Silver Rate In Panaji

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Silver Rate in Panaji

Panaji, the capital of the tourist capital of India, Goa is a city unlike other, full of culture and old world charm. The city was the gateway for traders into India in the past, serving as a key link in international trade. Silver was used extensively to pay for such trade, with the Arabs, Dutch, Portuguese and British trying to establish base here. Today, the city continues to be a major destination, attracting visitors from all over the globe. Silver prices in Panaji are determined by taking international costs into account, since a majority of the silver consumed here is imported.

Trend of Silver Rate in Panaji for March 2020 (rates per kg)

• Silver had a good opening in the month of March, compared to the steep fall in prices in February. On 1 March, the price of silver in Panaji was Rs.47,400 per kg as its appeal of being a safe haven investment shot through the roof with the coronavirus pandemic threatening the global economy causing fears of a worldwide recession looming ahead.
• Towards the second week of March, silver had recovered from its largest one-day fall in 7 years, as expectations of interest rate cuts by the US Federal Reserve picked up its prices. By 6 March, it hits its highest price in the month of March, rising to Rs.50,700 per kg. This was further boosted up by the fall in equities due to crude oil prices dipping to new lows. Investors increasingly turned to precious metals as a stable investment in these times of extreme volatility.
• By the third week of March, silver again slipped by nearly 1% as investors started looking to cash in on their investments now and liquidating it in order to meet the demands of a possible economic downturn. Silver thus hit its lowest price of Rs.37,800 per kg on 19 March as coronavirus continued its damaging run through stock markets and economies across the world.
• By the end of the month, silver had picked up again to be a modest Rs.40,500 per kg on 31 March which was a good recovery from the slump of nearly 3% from the previous weeks. This was boosted by the stimulus offered by the US Federal Reserve with its cuts on interest rates.
• There was an overall decline of –14.5% for silver throughout the month of March in Panaji.

Trend of Silver Rate in Panaji for February 2020 (rates per kg)

• The month of February 2020 opened with the rate of silver standing at the rate of Rs.50,300 per kg in Panaji. As Corona virus starts hitting other countries, the global economy is expected to slow down. In such conditions, the precious metal is being considered as a haven for investors.
• During the month of February, the precious metal had hit the highest price point on the 24th of February. The price of silver touched a rate of Rs.52,900 per kg. The lowest recorded rate for the month of February was Rs.47,400 per kg and it was recorded on 29 February 2020. The report of Corona virus hitting 6 other countries had affected the overall investment scenario in the market.
• There was a hefty drop in the price of the precious metal and one of the main reasons behind the drop in price was caused after the World Health Organisation announced that Corona virus has turned out to be a global epidemic. The price of silver came to a close at the rate of Rs.47,400 per kg for the month of February 2020.
• The percentage change in the performance of the metal for the month of February 2020 was –5.76%.

Trend of Silver Rate in Panaji for January 2020 (rates per kg)

• In Panaji, the prices of the white metal opened at Rs.50,300 on 1 January 2020 and closed at Rs.50,200 on 31 January 2020.
• Throughout the month of January, the prices of silver fluctuated in Panaji. However, silver prices saw an overall decline of 0.19% over the course of the month.
• Initially, the prices of the white metal saw a gain in prices due to the tensions between the US and Iran. During the period, silver hit its highest rate for the month and touched Rs.52,600 for a kg on 8 January 2020.
• However, due to the demand for riskier assets and the trade deal concerns, the prices of silver fluctuated for the rest of the month. The concerns of the coronavirus also ensured that silver prices were affected. On 30 January 2020, the prices of silver hit its lowest rate for the month and touched Rs.49,200 for a kg.

Trend of Silver Rate in Panaji for December 2019 (rates per kg)

• In Panaji, silver prices recorded one of the highest inclines in the month at 5.82%. At the beginning of the month, the price of the metal was Rs.48,100 per kg and was fluctuating through the first week.
• However, silver prices hit its monthly low at Rs.46,400 per kg on 10 December recording a dip in prices by Rs.1,700 per kg in just 10 days. This was majorly due to the investors awaiting developments on the trade deal between the United States of America and China.
• The price of the metal increased in the second half of the month as the tensions between Iran and the United States of America increased. The investors shifted to the bullion for safe-haven appeal.
• At the end of the month, the price of the metal closed the month at Rs.50,900 per kg with a percentage incline. Another major factor which played a role in the rise in prices was the impeachment inquiry on United States President, Donald Trump. Due to this, traders shifted to the bullion amidst a weak dollar value in the market.

Trend of Silver Rate in Panaji for November 2019 (rates per kg)

Trend of Silver Rate in Panaji for October 2019 (rates per kg)

Trend of Silver Rate in Panaji for September 2019 (rates per kg)

Trend of Silver Rate in Panaji for August 2019 (rates per kg)

Trend of Silver Rate in Panaji for July 2019 (rates per kg)

Trend of Silver Rate in Panaji for June 2019 (rates per kg)

• At the start of the month, silver rate in Panaji stood at Rs.39,400 per kg. This was the same price it traded at during the end of the previous month. The price of the metal remained stable primarily due to stagnant demand. This was the lowest the metal was trading at for the month.
• As the Federal Bank’s decision to cut interest rates caused speculation in a declining economic growth, the dollar value dipped. This caused the price of silver to rise to Rs.40,100 per kg on June 14.
• The white metal then hit a monthly high on June 21 as the Federal Reserve Bank signaled it was on the verge of cutting interest rate. During this time, silver traded at Rs.41,500 per kg.
• The month ended with silver trading at Rs.40,800 per kg, recording a 3.55% monthly incline.

Trend of Silver Rate in Panaji for May 2019 (rates per kg)

Trend of Silver Rate in Panaji for April 2019 (rates per kg)

Trend of Silver Rate in Panaji for March 2019 (rates per kg)

• The white metal experienced a dip in value from the previous month due to the strengthened dollar and weakened equity. Silver rate in Panaji stood at Rs.42,700 per kg. Although a decline from last month, this was the highest that the metal stood at for the month.
• The dollar then managed to rise above the Euro on the 7th after the European Central Bank postponed their interest hike. This withheld economic crisis and thereby withheld the growth of gold. The price of silver stood at Rs.41,000 per kg.
• Silver hit its lowest point for the month on 29th when it stood at Rs.40,200 per kg. During this time, other equites too dipped in value.
• A percentage decline of 4.91 was recorded at the end of March when the white metal was priced at Rs.40,600 per kg.

Trend of Silver Rate in Panaji for February 2019 (rates per kg)

• Silver in Panaji was priced at Rs.43,900 per kg at the start of the month of February. On 5 February, the price of the metal then rose to Rs.44,100 per kg while the local and industrial demand were high.
• The value of the US dollar surged in comparison to other currencies causing local industrial offtake to dip. This caused the price of silver on 14 February to decline to Rs.42,700 per kg. However, the overseas demand for the metal remained constant.
• The economic anxiety over the ongoing Sino-U.S. trade disparity and Brexit cause the equity markets to get volatile, resulting the investors choosing safe haven assets. The price of silver on 20 February then showed an incline as it stood at Rs.44,000 per kg,
• Contradicting global cues clubbed with the declining demand of the metal from local industries and coin makers affected the rate of silver in Panaji. At the end of the month, silver was recorded at Rs.43,300 per kg, a 1.36% decline in the percentage change.

Trend of Silver Rate in Panaji for January 2019 (rates per kg)

• Despite a modest opening of Rs.41,500 per kg on 1 January, silver prices in Panaji rose steadily on industrial offtake and favourable overseas cues.
• Silver traded at Rs.42,400 per kg on 9 January as coin makers increased orders due to the low dollar rate, with retail sales also boosting demand for the metal as silver traded at Rs.42,600 per kg on 15 January.
• A minor dip in price due to declining Asian offtake and static industrial demand saw the metal trade at Rs.41,800 per kg on 22 January.
• Fears of the economic impact of Brexit resulted in increased investor interest in silver and boosted prices towards the end of the month as the metal traded at Rs.43,900 per kg on 31 January.

Trend of Silver Rate in Panaji for December 2018 (rates per kg)

Trend of silver rate in Panaji in December 2018:

• Silver opened the market on December, priced at Rs.38,500 per kg in Panaji. The metal showed an upward trend in prices throughout the month as the global markets fell, resulting in the strengthening of the rupee.
• By the middle of the month, the price of silver had reached Rs.40,900 per kg as the dollar weakened further due to the US-China trade war. This led to investors depending on the bullion as a haven asset, thus creating an increase in demand.
• On the national front, local demand amongst jewellers increased throughout the country in the second half of December due to the wedding season.
• Silver trading closed on 31 December at Rs.41,500 per kg resulting in a percentage incline of 7.79.

Trend of Silver Rate in Panaji for November 2018 (rates per kg)

Silver Rate Trend in Panaji for November 2018:

• Silver rates in Panaji declined sharply as a weak rupee coupled with a global decline in industrial demand for the metal impacted prices.
• When trading opened on 1 November, silver prices were stable at Rs.40,900 per kg but prices dipped steadily as retail demand was poor due to rising import costs.
• With weak overseas demand as a result of reduced Asian industrial offtake, prices fell to Rs.39,800 per kg on 20 November.
• Silver rates made a recovery as local industrial demand rose marginally but slid sharply as the month ended, trading at Rs.38,800 per kg on 30 November to record an overall decline of 5.13% during the month.

Trend of Silver Rate in Panaji for October 2018 (rates per gram)

October 2018 – Week 1 (1-7):

• The week began with silver priced at Rs.41,100 per kg in Panaji. Over the course of the week, the price surged on the back of a weakening dollar.
• On the 3rd, the rate jumped to its monthly high at Rs.42,000 per kg before dropping down to Rs.41,500 per kg on October 5 as the demand for the metal receded in the local markets.
• However, on October 7, the price jumped up once again to end the week at Rs.41,900 per kg. The price rose as the dollar weakened owing to weak U.S. economic data.

October 2018 – Week 2 (8-14):

• For the second week of the month, silver commenced trading at Rs.41,500 per kg on October 8.
• Over the course of the week, the price dipped gradually as the demand from the industrial units and coin makers stayed flat but stable.
• By the 11th, the price had dropped down to its monthly low at Rs.41,100 per kg. However, sliding equities helped silver regain some of its recent losses. Hence, it moved up to end the week at Rs.41,500 per kg on October 14.

October 2018 – Week 3 (15-21):

• Silver rate in Panaji started the third week of October at Rs.41,900 per kg on the 15th. The price rose as the investors sought refuge from falling shares in precious metals.
• As the week went by, the price of the industrial metal went down as the stocks bounced back, along with a gradual drop in the demand from local jewellers.
• On the 17th, silver was traded at Rs.41,400 per kg after which, it moved up to Rs.41,700 per kg. The final days of the week saw some volatility as it concluded trading on the 21st at Rs.41,500 per kg.

October 2018 – Week 4 (22-28):

• At the start of the fourth week of October, silver was seen changing hands at Rs.41,500 per kg – same as its previous close. For the first couple of days, the price stayed flat on the back of a stable demand.
• The global cues and the performance of rupee against the dollar had their say as the week progressed. These cues affected the price of silver, which jumped up to Rs.41,800 per kg on the 25th.
• However, by the end of the week, the price was back to its previous level at Rs.41,700 per kg on October 28.

October 2018 – Week 5 (29-31):

• The final week began with silver trading at Rs.41,600 per kg on October 29. In the final days of the month, the price dropped by Rs.400 per kg to end the month on 31st at Rs.41,200 per kg.
• The drop was mainly owing to a subdued demand in the local markets, coupled with a rising dollar and recovering equities. The month saw an increase of 0.24% in the price of silver in Panaji.

Trend of Silver Rate in Panaji for September 2018 (rates per gram)

Parameters	Silver price (per kg)
September 1 Rate	Rs.40,000 per kg
September 30 Rate	Rs.41,200 per kg
Highest Rate in September	Rs.41,200 per kg on 29 and 30 September
Lowest Rate in September	Rs.39,500 per kg on 5, 7, 15-16 September
Overall Monthly Performance	Incline
Percentage Change	3%

September 2018- Week 1 (1-8)

• When trading for silver commenced for the month of September, the price of the metal stood at Rs.40,000 per kg.
• On the 2nd of the month, silver rates in Panaji inclined by Rs.100, however, it quickly fell to Rs.40,000 on the 3th and further fell a monthly low of Rs.39,500 per kg on 5th September and remained unaffected till the 7th of the month.
• The ongoing trade war affected the stock markets negatively and investors turned towards safe-haven assets. Due to which, silver rates in Panaji increased by the end of the week and closed at Rs.39,700 per kg.

September 2018- Week 2 (9-15)

• On the first day of week 2, silver rates remained unaffected and opened at Rs.39,700 per kg but the price of the metal inclined in the following days.
• As the value of the US dollar fell after the US inflation data was released, from 11 to 13 September, silver rates surged and traded at Rs.39,700 per kg.
• During the end of the week, silver rates in Panaji fell and traded at Rs.39,800 per kg on 14 September and fell further and closed at Rs.39,500 per kg as the value of the US dollar recovered.

September 2018- Week 3 (16-22)

• As the retail demand for the metal did not increase, silver continued to be traded at Rs.39,500 per kg on 16 September in Panaji.
• However, on 17, 18, and 19 September, silver rates inclined and traded at Rs.39,700 per kg, Rs.39,800 per kg, and Rs.40,000 per kg respectively as the demand for the metal picked up and the value of the US dollar fell again.
• the last few days of the week, silver rates further inclined and traded at Rs.40,100 per kg on 20 and 21 and closed at Rs.40,300 per kg on 22 September.

September 2018- Week 4 (23-30)

• Silver opened at Rs.40,300 per kg on 23 September in Panaji.
• Due to muted demand from the domestic market, the price of the metal fell to Rs.40,000 per kg on 24 September but silver rates quickly inclined to Rs.40,200 per kg on 25 and further inclined to Rs.40,800 per kg on 26 September.
• Silver hit a monthly high of Rs.41,200 per kg on 29 and 30 September and recorded an overall incline of 3%.

Trend of Silver Rate in Panaji for August 2018 (rates per kg)

Parameters	Silver price (per kg)
August 1 Rate	Rs.41,400 per kg
August 31 Rate	Rs.40,300 per kg
Highest Rate in August	Rs.41,400 per kg on 1 and 9 August
Lowest Rate in August	Rs.39,800 per kg from 24 August
Overall Monthly Performance	Decline
Percentage Change	-2.65%

August 2018 - Week 1 (1 - 05):

• The silver price in Panaji, at the start of August 2018, commenced at Rs.41,400 per kg. This was the highest the price of silver stood at for the month.
• Domestic demand for the metal dropped on 2 August causing the price of silver to decline as well. On this day, the metal was recorded at Rs.41,100 per kg, a Rs.300 per kg decline from the start of the month.
• Silver price in the city the stood stable for a day before spiking by Rs.200 per kg on 4 August. The metal traded at Rs.41,300 that can be associated with the increased demand amongst domestic dealer and industries.
• On 5 August, the last day of week 1, silver was priced at Rs.41,300 per kg, not being affected by the increased demand that was recorded on the previous day.

August 2018 - Week 2 (6 - 12):

• Domestic demand for silver then dipped at the start of week 2, causing silver price in the city to drop to Rs.41,300 per kg.
• The US economy then experienced positive trends, in turn negatively affecting the value of the dollar. Naturally the silver price in Panaji dropped to Rs.41,200 per kg on 7 August.
• On 9 August, a substantial gain in the value of silver was recorded after it experienced a decline previously. The silver price in Panaji stood at Rs.41,400 per kg. This also was the highest that the metal was priced for the month of August 2018. The upswing in the value may be associated with the decline the dollar value in comparison with other currencies.
• After experiencing an uprise in value, the price of silver in Panaji dropped along with domestic demand. As on 10 August, the metal in the city was priced at Rs.41,100 per kg. The metal, throughout the entire month, was determined by the variation in demand for the same.
• The silver price in Panaji then experienced a high and ended week 2 at Rs.41,200 per kg.

August 2018 - Week 3 (13 - 19):

• Week 3 commenced with silver trading at Rs.41,200 per kg, the same as it did at the end of week 2.
• The price of silver experienced a dip the next day dropping to Rs.40,900. This may have been caused by a decline in demand for silver in the city.
• Employment data had been released in the US during the course of week 3, causing positive trends in the economy. This increased the value of the dollar, which in turn caused the silver price in Panaji to drop.
• Even though the dollar rose in value, it had a positive effect on the price of silver. On 15 August, silver rose to Rs.41,100 per kg. However, this did not last long as the price dipped to Rs.39,900 per kg, on 16 August, the very next day.
• The city of Panaji experienced a spike in silver rates during 17 - 19 August, as it was priced at Rs.40,000 per kg marking a Rs.100 increment to end the third week of August 2018.

August 2018 - Week 4 (20 - 26):

• Week 4 began with silver price in Panaji being recorded at Rs.40,000 per kg. This was the same price the metal stood at during the end of week 3.
• Silver then experienced a rise in value on 22 August as it was recorded at Rs.40,100 - a Rs.100 increment in comparison to the price of silver at the start of week 4.
• Silver then dipped a couple of points as the dollar rose in value over other currencies. The metal, on 23 August, was trading at Rs.39,900 in Panaji.
• In the following days of week 4, domestic demand for the metal declined, thereby adversely affecting the price of silver. During this time, silver dropped in value further as it stood at Rs.39,800 per kg.
• However, at the end of week 4 the price of silver in Panaji increased as it stood at Rs.40,200 per kg on 26 August.

August 2018 - Week 5 (27 - 31):

• In the beginning of week 5, silver in Panaji was recorded at Rs.40,200 per kg.
• The value of silver then rose as domestic demand from industries and jewellers increased during the course of week 5.
• The silver price in Panaji for the month of August recorded a declining trend of -2.65% as it stood at Rs.40,300 per kg to end week 5 and the month of August 2018.

Trend of Silver Rate in Panaji for July 2018 (rates per kg)

Parameters	Silver price (per kg)
July 1 Rate	Rs.42,800 per kg
July 31 Rate	Rs.41,400 per kg
Highest Rate in July	Rs.42,900 per kg on 9 and 10 July
Lowest Rate in July	Rs.41,200 per kg on 28 and 29 July
Overall Monthly Performance	Decline
Percentage Change	-3.27%

July 2018- Week 1 (1-7)

• The price of silver rose briefly towards the end of the first week but the overall trend was one of decline.
• Trading opened with the white metal priced at Rs.42,800 per kg as local industrial units reduced orders due to fluctuating dollar rates as well as overseas trends.
• Prices dropped to Rs.42,400 per kg on 3 July on reduced interest from coin makers and traders ahead of the Federal Reserve testimony.
• Silver prices rose to Rs.42,800 per kg on 4 July as fears over the impact of the ongoing trade war between US and China led to markets falling steeply.
• Demand fluctuated for the rest of the week, with silver ending at Rs.42,700 per kg on 7 July.

July 2018- Week 2 (8-14)

• Silver prices in Panaji were sluggish in the second week, opening at Rs.42,600 per kg on 8 July.
• The rupee continued to lose ground to the dollar, which made imports cheaper but reduced retail demand due to the higher price.
• Prices rose to Rs.42,900 per kg on 9 July as geopolitical tensions and the growing tariff war led investors to look to bullion as a safe-haven asset.
• The dollar and equity markets recovered as silver prices once more fell to Rs.42,200 per kg on 12 July.
• There was a slight recovery as the week ended, with silver priced at Rs.42,300 per kg on 14 July.

July 2018- Week 3 (15-21)

• There was no change in the price of silver as the third week began with the metal trading at Rs.42,300 per kg on static demand.
• Following the positive economic outlook indication, speculation of a rate hike led to the US dollar rising as markets also surged on bullish sentiment.
• Silver prices, on the other hand, did not see much change in price, trading at Rs.42,100 per kg on 17 July.
• Prices dropped sharply to Rs.41,700 per kg on 18 July as poor demand from local industrial units and the falling rupee affected prices.
• The drop in price continued as the week progressed in spite of comments criticising the recent rise in the dollar rate.
• Minor fluctuations in the price were observed before silver ended the week at Rs.41,700 per kg on 21 July.

July 2018- Week 4 (22-31)

• Silver price rose by Rs.100 per kg traded at Rs.41,500 per kg on 25 July. The hike in silver prices was mainly due to increase in retail demand for the metal.
• Due to the decline of dollar value, silver prices spiked on 26 July to Rs.41,800 per kg. However, demand for the metal dropped which naturally caused the decline in silver prices over the next few days.
• As on 28 - 29 July, the price of silver stood at Rs.41,200 per kg. This was the lowest silver rate recorded in the month of Panaji for the month of July.
• By the end of the month, the price of silver increased as dollar rates dropped slightly. The metal stood at Rs.41,400 on 30 - 31 July.
• Overall, silver rates in Panaji for the month of July fell by 3.27%.

Trend of Silver Rate in Panaji for June 2018 (rates per kg)

Parameters	Silver price (per kg)
June 1 Rate	Rs.42,800 per kg
June 30 Rate	Rs.42,800 per kg
Highest Rate in June	Rs.45,000 per kg on 15 June
Lowest Rate in June	Rs.42,600 per kg from 2- 5 June
Overall Monthly Performance	Stable
Percentage Change	0.00%

June 2018- Week 1 (1-10)

• Panaji’s silver rates in the first week of June were stable as industrial demand kept prices from fluctuating too wildly.
• Silver was priced at Rs.42,800 per kg on stable demand from industrial units.
• The upcoming summit between the United States and North Korea led to a rally by the dollar, which led to a drop in demand for silver prices to Rs.42,600 per kg on 2 June.
• Local industrial offtake fluctuated based on the dollar rate, as the rupee fell heavily against the dollar for most of the week.
• Prices did not change for the rest of the week, with silver trading at Rs.43,700 per kg on 10 June.

June 2018- Week 2 (11-17)

• The upcoming summit between the United States and China led to some volatility across currency markets and bullion demand.
• The industrial metal opened the second week at Rs.43,900 per kg on 11 June as local coin makers rekindled interest in silver.
• Silver prices jumped to Rs.44,000 per kg on 12 June due to market volatility across currency markets, which resulted in a rise in demand for safe-haven assets.
• Prices rose to Rs.45,000 per kg on 15 June as investors flocked to bullion, fearing a trade war as the dollar rate fell sharply.
• Prices stabilised as the week ended on steady trading, with silver priced at Rs.44,300 per kg on 17 June.

June 2018- Week 3 (18-24)

• The third week saw silver trade at Rs.43,400 per kg in Panaji on 18 June due to price fluctuations as a result of unstable market conditions.
• The fall in the dollar rate led to a slight rise in silver demand, but the recovering equity markets meant that gains were capped.
• The white metal’s value fell to Rs.42,900 per kg on 21 June on increased short-selling ahead of the Fed meeting, cautious of an interest rate hike announcement.
• Demand from local industrial units also fell due to the plummeting rupee, though overseas demand, especially from Asian industry, remained consistent.
• There was some fluctuation in prices towards the end of the week, though silver did not see much change in price.

June 2018- Week 4 (25-30)

• There was a steady drop in the price of silver due to low industrial offtake, with both local and overseas orders slowing down due to the stable dollar.
• Volatility marked silver trading this week, with the metal priced at Rs.43,200 per kg when trading opened on 25 June.
• Prices dipped as the week progressed, with the industrial metal’s price falling to Rs.43,100 per kg on 26 June amid a gradual decline in orders from coin makers.
• WIth the upcoming Federal Reserve meeting and the possibility of an imminent interest rate hike, silver prices dropped to Rs.42,800 per kg on 29 June and stayed constant till the end of the month.
• Demand was unchanged due to market forces that led to silver ending at the same price it opened.

Trend of Silver Rate in Panaji for May 2018 (rates per kg of silver)

Parameters	Silver price (per kg)
May 1 Rate	Rs.42,000 per kg
May 31 Rate	Rs.43,100 per kg
Highest Rate in May	Rs.43,800 per kg on 25 May
Lowest Rate in May	Rs.42,000 per kg on 1 May
Overall Monthly Performance	Incline
Percentage Change	2.61%

May 2018- Week 1 (1st -6th)

• Demand for silver was on the increase in the first week of May, with the metal opening the week at Rs.42,000 per kg.
• Increased demand from industrial units as well as a volatile dollar rate led to a gradual rise in price, with the industrial metal trading at Rs.42,600 per kg on 2 May.
• Increased tensions between the United States and China over trade led to fluctuating fortunes on the market, which led to higher demand for bullion.
• Prices remained high as steady demand from local industrial units coupled with positive market cues kept silver rates consistent.

May 2018- Week 2 (7th-13th)

• The second week began with silver trading at Rs.43,200 per kg on 7 May in Panaji, as the dollar was volatile ahead of U.S. jobs data.
• Demand rose steadily as favourable market conditions as well as a low dollar rate led to an increase in orders from overseas as well as local industrial units.
• Prices rose to Rs.43,500 per kg on 11 May as renewed tensions between the U.S. and China led to the dollar falling, as investors looked to bullion as a safe-haven asset.
• Demand was consistent as the week ended on 13 May, though there was a slight drop in local industrial demand due to the high price.

May 2018- Week 3 (14th-20th)

• The third week began with silver trading at Rs.43,600 per kg on 14 May as overseas demand for safe-haven assets like bullion grew due to uncertainty over a possible trade war.
• Prices regularised over the course of the week, with silver rates falling to Rs.43,000 per kg on 16 May amidst a recovery across stock markets.
• The possibility of an interest rate hike as early as next month led to growing confidence in the dollar, as demand for bullion gradually fell.
• Local demand was also on the decline, as silver traded at Rs.43,200 per kg on 18 May.
• The week ended with silver priced at Rs.43,100 per kg on 20 May as coin makers increased demand.

May 2018- Week 4 (21st-27th)

• There was no change in the price of silver as the fourth week began on 21 May, as local demand was stable in spite of a rise in the dollar rate.
• Prices rose as the fear of the imminent North Korea and U.S. talks being called off led to panic across stock markets, with the dollar also plunging.
• Silver prices rose to Rs.43,800 per kg on 25 May as the markets continued to trade low in light of the cancellation of the summit.
• Local demand rose marginally as the week progressed, though silver prices fell to Rs.43,600 per kg as the week ended on 27 May.

May 2018- Week 5 (28th-31st)

• The last week of May saw silver prices fall significantly as the summit between the U.S. and North Korea was back on, which boosted the dollar.
• Silver was priced at Rs.43,000 per kg on 28 May, as demand weakened sharply over the weekend.
• Prices rose marginally as silver traded at Rs.43,100 per kg on 29 May amidst a rise in local demand, though the rise was shortlived.
• Silver fell heavily on 30 May, trading at Rs.42,900 per kg as overseas demand was static due to the stable dollar.
• The month ended with silver priced at Rs.43,100 per kg on 31 May to record a 2.61% rise in value.

Trend of Silver Rate in Panaji for April 2018 (rates per kg)

Parameters	Silver price (per kg)
April 1 Rate	Rs.41,400 per kg
April 30 Rate	Rs.42,300 per kg
Highest Rate in April	Rs.43,800 per kg on 20 and 22 April
Lowest Rate in April	Rs.41,000 per kg on 5 April
Overall Monthly Performance	Incline
Percentage Change	2.17%

April 2018- Week 1 (1st - 7th)

• Silver opened at Rs.41,400 per kg in Panaji on 01 April 2018.
• As the demand from local industrial units and coin makers kept pouring, silver prices remained stable in the following days.
• The demand for bullion increased as equity market performed poorly due to the ongoing trade talks between the United States of America and China.
• On 3 April, silver price in Panaji rose to Rs.41,600 per kg.
• Silver prices succumbed to strong U.S Dollar and the lowest silver rate for the month of April in Panaji was recorded on 5 April when the metal traded at Rs.41,000 per kg.
• A minor drop in demand led to silver rate in Panaji ending the week trading at Rs.41,200 per kg on 7 April.

April 2018- Week 2 (8th - 15th)

• Throughout the second week of April, the demand for silver grew due to wildly fluctuating equity markets and currency markets.
• Silver opened at Rs.41,200 per kg on 8 April.
• Tensions between the U.S. and North Korea had a great impact on the equity market predictions and led to profit-booking by some investors.
• On 11 April, silver price in Panaji rose to Rs.41,700 per kg.
• The increase in silver prices was because of investors choosing to invest in safe-haven assets like gold and silver as the suspected chemical attack in Syria negatively affected the equity market.
• On 12 April, silver rate in Panaji rose to Rs.42,000 per kg.
• Silver closed at Rs.41,900 per kg as demand from industrial units dropped.

April 2018- Week 3 (16th - 22nd)

• Prices rose to Rs.42,100 per kg on the first day of the week.
• As the dollar rate remained poor, demand for bullion rose. Thus, silver prices rose to Rs.43,700 per kg on 19 April.
• The highest silver rate in Panaji for the month was recorded on 20 and 22 April when the metal traded at Rs.43,800.
• As the local demand remained steady, silver price in Panaji were stable throughout the week.
• A slight dip in price was recorded towards the end of the week as the dollar rate began to recover and equity markets also made some gains. However, no major fluctuations in silver prices were reported.
• On 22 April 2018, silver closed at Rs.41,900 per kg.

April 2018- Week 4 (23rd - 30th)

• Lack of demand from local industrial units and coin makers caused silver rate in Panaji to fall in the last week of April.
• The outcome of the Fed Reserve meeting and U.S. industrial data due to be released led to investors being more bullish as interest in bullion fell.
• On 23 April, silver opened at Rs.43,700 per kg. Though an increase of Rs.1,800 per kg was seen, silver prices quickly dropped in the following days due to poor demand.
• As tensions between China and the U.S. appeared to be easing, equity markets and the dollar rose, leading to lower imports of silver.
• Silver price in Panaji further fell to Rs.42,800 per kg on 28 April before finally settling at Rs.42,300 per kg on 30 April.

Trend of Silver Rate in Panaji for March 2018 (rates per kg)

Parameters	Silver price (per kg)
March 1 Rate	Rs.41,100 per kg
March 31 Rate	Rs.41,400 per kg
Highest Rate in March	Rs.41,900 per kg on 7 March
Lowest Rate in March	Rs.41,000 per kg on 19 and 21 March
Overall Monthly Performance	Incline
Percentage Change	0.72%

March 2018 – Week 1 (1 – 4):

• When trading began in Panaji, the industrial metal was recording trading firm at Rs.41,100 per kg on the 1st.
• Demand for the metal surged in the bullion market due to uneven performances by the equity markets as the week progressed.
• On the 2nd, prices rose to Rs.41,400 per kg after an incline in industrial offtake was recorded following a bearish run by the US dollar.
• The 3rd saw silver prices rising further to Rs.41,600 per kg with domestic stock markets tumbling amid the weakened US dollar.
• Silver rates remained untouched at Rs.41,600 per kg for the rest of the week with the bullion market tracking a firm trend overseas.

March 2018 – Week 2 (5 – 11):

• The week opened with the white metal prices holding steady at Rs.41,600 per kg on the 5th with consistent demand for the metal.
• However, a decline in industrial demand at the global level led to silver rates dropping to Rs.41,400 per kg on the 6th.
• The 7th witnessed silver rates rebounding to Rs.41,900 per kg after demand from investors and traders inclined with the US dollar index losing against other apex currencies.
• With the US dollar regaining lost ground amid well-performing equities, demand for the metal subsided. This led to silver being priced at Rs.41,500 per kg on the 8th which plunged further to Rs.41,300 per kg on the 9th amid the poor overseas trends.
• Demand, however, picked up as the week progressed after the US dollar tumbled amid market uncertainties and silver was recorded trading at Rs.41,600 per kg on the 11th when the week came to an end.

March 2018 – Week 3 (12 – 18):

• Silver trade in Panaji saw prices dropping significantly due to a bullish performance by the US dollar during the week.
• Silver was priced at Rs.41,600 per kg on the 12th, when the week began with firm trends from the previous week.
• With the stronger than expected US jobs and payrolls’ data indicating a rise in the number of jobs contributing to the US economy, the greenback surged. This led to silver rates dropping to Rs.41,400 per kg on the 13th.
• Though prices rebounded to Rs.41,700 per kg on the 14th as the dollar tumbled after the sudden dismissal of the US Secretary of State, speculations over a possible Fed rate hike during the next week led to dollar rebounding and silver was recorded trading at Rs.41,500 per kg on the 15th.
• Poor trends overseas compounded with reduced domestic demand from local industrial units and coin makers resulted in prices plummeting to Rs.41,300 per kg and 41,100 per kg on the 16th and the 17th respectively.
• The week concluded with the industrial metal trading at Rs.41,100 per kg on the 18th as demand remained low with international markets expecting a rise in the US interest rates during the central bank’s monetary policy meeting next week.

March 2018 – Week 4 (19 – 25):

• Trading opened for the week with the white metal priced relatively lower at Rs.41,000 per gram on the 19th following a slight decline in demand from the previous week.
• Thanks to an increase in demand from local coin manufacturers and industrial units, prices surged to Rs.41,200 per kg on the 20th.
• Though rates plunged to Rs.41,000 per gram the next day, silver prices soon rebounded with investors and traders banking on the metal to hedge against the uneven equities and the metal was recorded trading at Rs.41,500 per kg on the 22nd.
• With markets cautious ahead of the US Federal Bank monetary policy announcement on future Fed rate hikes, demand for the white metal remained strong over the next few days. Silver was priced at Rs.41,600 per kg on the 23rd amid the firm overseas trends.
• The week came to an end with prices remaining untouched at Rs.41,600 per kg on the 25th with the bullion market following strong trends overseas.

March 2018 – Week 5 (26 – 31):

• The last week commenced with silver prices holding at Rs.41,600 per kg on the 26th with steady demand amid firm global cues.
• With tensions rising between the US and Russia, investors gravitated towards assets considered safer such as gold and silver. This led to prices surging to Rs.41,800 per kg on the 27th.
• The 28th, however, saw the dollar regaining lost ground from its previous rally of losses and rose against a basket of currencies amid the recovering equity markets. This led to silver rates in Panaji dropping to Rs.41,500 per kg on the 28th which plummeted further to Rs.41,400 per kg on the 29th.
• Trading concluded for the month with the white metal trading firm at Rs.41,400 per kg on the last day with subdued but steady demand from local industries and coin makers amid positive global cues.
• Panaji recorded an incline of 0.72% in silver trade during the course of the month.

Trend of Silver Rate in Panaji for February 2018 (rates per kg)

Parameters	Silver price (per kg)
February 1 Rate	Rs.42,600 per kg
February 28 Rate	Rs.41,200 per kg
Highest Rate in February	Rs.42,600 per kg on 1 and 2 February
Lowest Rate in February	Rs.40,600 per gram on 10 and 11 February
Overall Monthly Performance	Decline
Percentage Change	-3.28%

February 2018 - Week 1 (1st - 4th):

• The month began in Panaji with the white metal trading at Rs.42,600 per kg on the 1st after the US dollar weakened ahead of the US employment data. This was also the lowest monthly figure recorded in the city.
• Silver rate in Panaji remained unaltered at Rs.42,600 per kg on the 2nd owing to strong domestic demand amid the positive global cues.
• However, the US dollar index rose against other emerging currencies after the US payrolls data proved to be stronger than expected. This led to silver price in Panaji plunging to Rs.41,700 per kg on the 3rd.
• Thanks to the subdued but steady demand from industries and coin manufacturers, the rest of the week saw the industrial metal prices holding steady at Rs.41,700 per kg on the 4th.

February 2018 - Week 2 (5th - 11th):

• When trading commenced for the second week, silver was priced relatively lower at Rs.41,500 per kg on the 5th after demand for the metal declined amid weak global cues.
• Though rates rose to Rs.41,900 per kg the next day, silver price in Panaji plunged to Rs.41,400 per kg on the 7th with the US dollar index rising against other apex currencies in the international market.
• Poor trends overseas compounded by weak demand resulted in silver rates dropping further to Rs.40,800 per kg on the 8th.
• The 9th saw the white metal rates rebounding to Rs.41,000 per kg following an unexpected incline in domestic demand despite the poor trend overseas.
• However, with the dollar and equities market performing well in the international trade, silver rate in Panaji plummeted to Rs.40,600 per kg on the 10th. This was also the lowest recorded monthly figure in the city.
• The week concluded with the industrial metal trading at Rs.40,600 per kg on the 11th with poor demand amid the weak trends overseas.

February 2018 - Week 3 (12th - 18th):

• Poor dollar performances coupled with weakly performing equities resulted in silver price in Panaji rising considerably during the course of the week.
• The week began with silver priced relatively higher at Rs.40,900 per kg on the 12th with the US dollar losing ground ahead of the US inflation data.
• The next couple of days saw silver rate in Panaji rising after markets awaited the inflation data for clues on the pace of Fed rate hikes during the year. The white metal was recorded trading at Rs.41,300 per kg on the 13th before rising to Rs.41,400 per kg on the 14th amid the positive trends overseas.
• Prices surged to Rs.41,800 per kg on the 15th before plunging to Rs.41,700 per kg on the 16th with the US dollar strengthening following the US inflation data.
• With investors and traders gravitating on safe-haven assets to hedge against inflation concerns, demand for the metal surged. This led silver prices holding steady at Rs.41,700 per kg for the remainder of the week.

February 2018 - Week 4 (19th - 25th):

• The fourth week commenced with the industrial metal priced at Rs.41,600 per kg on the 19th.
• However, silver rate in Panaji plunged to Rs.41,200 per kg the next day after the US dollar strengthened against other emerging currencies.
• Though rates remained untouched at Rs.41,200 per kg on the 21st amid the poor trends overseas, silver price in Panaji rebounded to Rs.41,400 per kg the next day with an increase in demand from local industries and coin manufacturers.
• Prices surged further to Rs.41,600 per kg on the 23rd with the US dollar index and equities market losing in the international market.
• The 24th saw rates declining slightly to Rs.41,500 per kg after domestic demand stabilised amid the firm trends overseas.
• Thanks to steady demand from industries and coin makers, the rest of the week saw silver trading firm at Rs.41,500 per kg amid the positive trend overseas.

February 2018 - Week 5 (26th - 28th):

• When trading commenced for the last week, silver prices in Panaji were recorded holding at Rs.41,600 per kg on the 26th.
• Silver rate in Panaji surging to Rs.41,700 per kg on the 27th as markets were shaky.
• The month came to an end with the industrial metal trading at Rs.41,200 per kg on the 28th with silver trade in Panaji registered a loss of 3.28% during the course of the month.

Trend of Silver Rate in Panaji for January 2018 (rates per kg)

Parameters	Silver price (per kg)
Silver Rate on 1st January 2018	Rs.39,100 per kg
Silver Rate on 31st January 2018	Rs.42,200 per kg
Highest Rate in January	Rs.42,700 per kg on 29 January
Lowest Rate in January	Rs.38,700 per kg on 10 and 11 January
Overall Monthly Performance	Incline
Percentage Change	7.92%

January 2018 - Week 1 (1st - 7th)

• Silver was priced at Rs.39,100 per kg when trading began on the first day of January 2018.
• Due to steady demand from local coin makers and industrial units, silver prices in Panaji remained at Rs.39,100 per kg on the 2nd day of this week.
• As the US dollar seemed to strengthen, silver prices in the state took a hit and fell by Rs.300 to Rs.38,800 per kg on the 3rd of January.
• Demand held steady on the 4th, as a result of which, silver rate in Panaji remained at Rs.38,800 per kg when trading ended for the day.
• The drop in demand was due to the jobs data, which was expected to hit the markets this week. Rates remained the same on the next day as well as investors exercised caution when making purchases.
• However, demand rose on the 6th and prices went up to Rs.39,200 per kg - a Rs.400 per kg hike - as the data was weaker than expected.
• When the week ended, silver rates in Panaji were recorded at Rs.39,200 per kg.

January 2018 - Week 2 (8th - 14th)

• The second week of January began with silver still trading at Rs.39,200 per kg.
• On the 9th, silver rate in Panaji dropped slightly to Rs.39,100 per kg. This happened because the dollar improved and demand for the metal declined.
• The 10th again saw silver prices drop - this time to Rs.38,700 per kg - as a rising US dollar continued to affect precious metal trading.
• Silver was still trading at Rs.38,700 per kg on the 11th but dropped started on a upward path to trade at Rs.38,900 per kg on the 12th of the month.
• As the US dollar weakened after a brief surge, silver prices went further up to Rs.39,200 per gram on the 13th of January.
• Silver rates were recorded at Rs.39,200 per gram on the final day of this week.

January 2018 - Week 3 (15th - 21st)

• When the third week started on the 15th, silver prices had seen little change and it was seen trading at Rs.39,200 per kg.
• Due to stable from local investors, the metal continued to trade at Rs.39,200 per kg before rising to Rs.39,600 per kg on the the 17th.
• The US dollar regained some of the lost ground, which put bullion trading on the backburner. The white metal traded at Rs.39,100 per kg on the 18th of the month.
• Over the next three days, i.e., from the 19th to the 21st, silver continued at Rs.39,100 per kg as demand was low but steady.

January 2018 - Week 4 (22th - 28th)

• The fourth week of January bore witness to a few changes in prices as markets remained largely stable.
• On the 22nd of January, when the week began, silver was priced at Rs.39,100 per kg which then rose to Rs.39,200 per kg the next day due to a slight change in demand.
• There was very few changes in demand over the course of the week as there were no major drivers which would otherwise impact trading patterns.
• On the 24th of the month, silver was trading at Rs.39,200 per kg and went on to sell at this rate on the 25th of the month as well.

January 2018 - Week 5 (29th - 31st)

• The final week of January 2018 bore witness some changes in prices, which was the cause of change in the USD- INR dynamic.
• On the 29th of January, the white metal was priced at Rs.42,700 per kg - a significant rise compared to the trading rates over the course of the previous week.
• The 30th saw silver price in Panaji drop to Rs.42,200 per kg - a Rs.500 decline as demand for the metal took a nosedive as the latest Federal Reserve meeting approached.
• When the month ended, silver was seen trading at Rs.42,200 per kg.
• Overall, silver prices changed by a massive 7.92% this month due to a number of factors. The US dollar was largely underperforming and local demand surged as a result.

Trend of Silver Rate in Panaji for December 2017 (rates per kg)

Parameters	Silver price (per kg)
Silver Rate on 1st December 2017	Rs.38,300 per kg
Silver Rate on 31st December 2017	Rs.38,700 per kg
Highest Rate in December	Rs.38,700 per kg from 29 to 31 December
Lowest Rate in December	Rs.36,800 per kg on 13 December
Overall Monthly Performance	Incline
Percentage Change	1.04%

December 2017 - Week 1 (1st to 10th)

• In Panaji, the week opened with silver trading at Rs.38,300 per kg on the 1st amid firm overseas trends.
• Silver rate in Panaji surged to Rs.38,500 per kg on the 2nd with the US tax reform plan stalled by the US Senate.
• Thanks to steady demand from industries and coin makers amid the weakened dollar, prices remained unchanged at Rs.38,500 per kg until the 7th.
• The 8th, however, saw silver rate in Panaji plunging to Rs.36,800 per kg with the US dollar gaining against other apex currencies after the US Senate decided to pass the Republican tax bill.
• When the week concluded, the white metal prices were recorded holding at Rs.37,100 per kg on the 10th with an incline in domestic buying by industrial units and coin manufacturers amid the positive overseas trends.

December 2017 - Week 2 (11th to 17th)

• When trading commenced for the second week, the industrial metal was priced at Rs.37,000 per kg on the 11th due to a slight decline in demand from the previous week.
• Demand, however, plunged further to Rs.36,800 per kg on the 13th with the US dollar gaining against other major currencies in the global markets.
• The 14th saw silver rate in Panaji rebounding to Rs.37,500 per kg following the Fed rate hike which pushed the US dollar and equities lower.
• But with the dollar picking up on the 15th, demand for the metal declined. This led to the industrial metal being priced at Rs.36,900 per kg.
• With investors and stockists mulled over by the final result of the tax overhaul on the US economy, rates rebounded to Rs.37,200 per kg on the 16th.
• Steady demand coupled with firm trend overseas led to silver price in Panaji remaining unchanged at Rs.37,200 per kg for the remainder of the week.

December 2017 - Week 3 (18th to 24th)

• The week began with the white metal trading steady at Rs.37,200 per kg on the 18th amid positive overseas trends.
• Strong global cues coupled with an increased domestic demand for the metal resulted in silver prices surging to Rs.37,500 per kg on the 19th.
• Rates remained unaltered at Rs.37,500 per gram on the 20th before rising to Rs.37,600 per kg the following day with an incline in demand from coin manufacturers and industrial units.
• The 22nd saw price in Panaji plunging to Rs.37,400 per kg with the US dollar gaining against other apex currencies in the world market.
• The newly released US tax cuts led to the Asian stocks declining. This resulted in silver prices rebounding to Rs.37,700 per kg on the 23rd.
• The week ended with the industrial metal trading steady at Rs.37,700 per kg on the 24th owing to strong demand from coin manufacturers and industrial units.

December 2017 - Week 4 (25th to 31st)

• The final month of the year began with the white metal priced at Rs.37,700 per kg on the 25th with steady demand from the previous week.
• Silver rate in Panaji surged to Rs.37,900 per kg on the 26th before rising further to Rs.38,200 per kg on the 27th due to an increase in demand from coin makers and industries amid the positive overseas trends.
• Prices continued to rise amid the weakened US dollar and poorly performing equities as the week progressed. This led to silver being priced at Rs.38,600 per kg on the 28th.
• The month concluded with the industrial metal prices holding firm at Rs.38,700 per kg on the 31st with steady demand from industrial units and coin makers.
• Panaji registered a profit of 1.04% in silver trade owing to the strong trends overseas during the course of the month.

Trend of Silver Rate in Panaji for November 2017 (rates per kg)

Parameters	Silver price (per kg)
Silver rate on 1st November 2017	Rs.39,300 per kg
Silver rate on 30th November 2017	Rs.38,500 per kg
Highest Rate in November 2017	Rs.40,100 per kg on 20 November
Lowest Rate in November 2017	Rs.38,500 per kg on 30 November
Overall Monthly Performance	Decline
Percentage Change	-2.03%

November 2017 - Week 1 (1st - 5th)

• When trading opened for November, silver was priced at Rs.39,300 per kg.
• Demand remained largely steady this week in Panaji, which led to rates holding at mostly the same rates.
• From the 2nd to the 5th, silver rates in Panaji were recorded at Rs.39,300 per kg, thanks to consistent demand from local markets.

November 2017 - Week 2 (6th - 12th)

• The second week began with silver in Panaji still trading at Rs.39,300 per kg.
• On the 7th, however, silver prices increased to Rs.40,000 as local trading was affected by global cues and a weak US dollar.
• But, as the greenback bounced back, silver rates dropped to Rs.39,800 per kg on the 8th of the month.
• Rates fluctuated quite a bit this week, with the metal trading at Rs.39,900 per kg on the 9th and then dropping to Rs.39,700 per kg on the 10th.
• There was a steadying of prices witnessed on the 11th and the white metal traded at Rs.39,800 per kg.
• When the week ended, silver was still trading at Rs.39,800 per kg.

November 2017 - Week 3 (13th - 19th)

• Silver rates remained unchanged for most of this week, as demand from local industries and coin makers remained consistent.
• When trading began in Panaji for the 13th of November, silver was priced at Rs.39,800 per kg.
• The 14th saw silver rates remain unchanged but increase slightly to Rs.39,900 per kg on the 15th of the month.
• On the 17th, silver prices in Panaji dropped back down to Rs.39,800 per kg due to low demand.
• When the week ended, silver was still trading at Rs.39,800 per kg.

November 2017 - Week 4 (20th - 26th)

• This week started on a high note, with silver rates at their highest for the month, at Rs.40,100 per kg.
• But, after that sudden surge, the white metal’s prices dropped down to Rs.39,600 per kg on the 21st of November.
• Rates fluctuated a little this week with the metal trading at Rs.39,700 per kg on the 23rd and then at Rs.39,800 per kg on the 24th.
• However, a resurgent dollar and poor local cues pushed prices down to Rs.39,500 per kg on the 25th of the month.
• During the closing hours of the week, silver was still trading at Rs.39,500 per kg.

November 2017 - Week 5 (27th - 30th)

• When the last week of November started, silver prices were recorded at Rs.39,700 per kg.
• But rates dropped to Rs.39,500 per kg on the 28th as demand began to fall.
• Silver rates fell again to trade at Rs.39,200 per kg on the penultimate day of the month as there was no sign of the demand increasing.
• On the final day of November, silver rates dropped by Rs.700 to bring it down to Rs.38,500 per kg.
• A weak local demand and a resurgent US dollar caused silver rates in Panaji to drop by 2.03%.

Details of Silver Price in Panaji (1 Kg) - Till December 2015

Silver prices in Panaji closely reflect prices across the country, with minute variations witnessed on a daily basis. The current price for 1 kg silver in the city is Rs 36,325 (as of December 22, 2015), with the prices hovering around the Rs 36,000 mark for most of this month. Silver rates have remained under the Rs 40,000 mark per kg for most of the year, crossing it in May, when a kg of silver cost around Rs 43,500. March, July and December have been good months for silver aficionados, with the prices staying close to the Rs 35,000 mark per kg of silver.

Silver as an investment

Silver has been around for centuries, and while it may not be expensive enough to wage wars, it has managed to hold its own over all these years. Considered as a safe investment, silver offers people who can’t afford gold or diamond the opportunity to own a precious metal which finds applications across the globe. A limited supply coupled with high demand make it a highly liquid investment, offering a chance to make quick money. With individuals looking to diversify their investment portfolios, silver has found itself on the list of many youngsters in the country. Buying silver in its physical form or indulging in trade through silver contracts are two of the popular investment avenues in India today.

Silver contracts – Silver contracts are new to a majority of the population in India, limited to those who are aware of how the markets function and are not afraid to take risks. Trading in such markets typically involves purchasing silver in bulk, with the National Multi Commodity Exchange, the National Commodity and Derivatives Exchange and the Multi Commodity Exchange offering a platform for enthusiasts to indulge in such trade. Ability to predict market trends could be beneficial while participating in the market.

Physical silver – Silver in the form of coins, bars and jewellery continues to be the preferred form of owning the white metal, with thousands across Panaji opting for them on a regular basis. Silver coins and bars can be used exclusively for investment, as they maintain their value over time, in comparison to jewellery which can lose its value after a particular period. Silver can be purchased from jewellers across the city, with an option for every budget available. Silver coins purchased from banks tend to be more expensive on account of quality assurances and purity checks.

Also Check Silver Price in NearBy Cities of Panaji

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