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Silver Rate Today in Nagapattinam
silver rate in Nagapattinam

10gm:
₹700.00
0(0.00%)
1kg:
₹70,000.00
0(0.00%)

Last updated on: 8th Mar 2023

Nagapattinam is a town in Tamilnadu that is rich in history and heritage. It is a small city that is now gaining popularity. It also has great potential in the trade of precious goods like Silver due to the demand in the city.  

Silver and gold coins are very popular in the town and are often used as gifts on auspicious occasions, including festivals and anniversaries. Silver is in demand in Nagapattinam almost throughout the year. This makes it a highly cash-convertible asset. 

Silver Rate Comparison

How to buy silver in Nagapattinam?

It is very important to watch the price movements of silver in the market before investing. Silver, like the same way in the case of gold, is available in various types like bars, coins, and jewelry. Each form offers its unique advantages and disadvantages. Carefully decide upon the form of your investment so that you can have a clear idea regarding the pros and cons of your decision.

Bullion

The most popular way of investing in silver is by buying coins or bullions. Silver Bullion refers to silver with the highest purity that is kept in the form of bars, coins or ingots. If the silver rates in Nagapattinam increase, you can profit from the silver bullion.

Silver Futures

Silver futures are a way to wager on the rising or falling silver rates without even owning physical silver. You can own a large portion of the metal with a relatively smaller capital. 

Exchange-Traded Funds (EFTs)

If you want a lower-risk way of investing without owning physical silver, choose Exchange Traded Funds. When the prices rise, you will own the silver, and you won't have to worry about it getting stolen. 

Silver rates as per grams in Nagapattinam

GramYesterdayToday
1 gram
₹70.00
0 (0.00%)
₹70.00
0 (0.00%)
8 grams
₹560.00
0 (0.00%)
₹560.00
0 (0.00%)
10 grams
₹700.00
0 (0.00%)
₹700.00
0 (0.00%)
100 grams
₹7,000.00
0 (0.00%)
₹7,000.00
0 (0.00%)
1kg
₹70,000.00
0 (0.00%)
₹70,000.00
0 (0.00%)

How is the Purity of Silver Evaluated in Nagapattinam?

Silver is a soft metal, so metals like copper or zinc are added to give it strength. The best silver in the market is sterling silver which contains 92.5% of silver. It would have the stamp 925. If it is stamped 999, it is of the purest quality. 

Another common way to check the BIS hallmark. Only authorised institutions can sell hallmarked silver. Hallmarks are official marks. This helps you recognise whether or not the silver you are purchasing has legal standards of fineness.

Historical Silver Rate in Nagapattinam for Last 10 Days

10 grams
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Day Silver
09 Mar 2023
₹700.00
0 (0.00%)
08 Mar 2023
₹700.00
0 (0.00%)
07 Mar 2023
₹700.00
0 (0.00%)
06 Mar 2023
₹700.00
0 (0.00%)
05 Mar 2023
₹700.00
0 (0.00%)
04 Mar 2023
₹700.00
0 (0.00%)
03 Mar 2023
₹700.00
-2 (0.00%)
02 Mar 2023
₹702.00
+12 (0.00%)
01 Mar 2023
₹690.00
0 (0.00%)
28 Feb 2023
₹690.00
-19 (0.00%)
Day Silver
09 Mar 2023
₹700.00
0 (0.00%)
08 Mar 2023
₹700.00
0 (0.00%)
07 Mar 2023
₹700.00
0 (0.00%)
06 Mar 2023
₹700.00
0 (0.00%)
05 Mar 2023
₹700.00
0 (0.00%)
04 Mar 2023
₹700.00
0 (0.00%)
03 Mar 2023
₹700.00
-2 (0.00%)
02 Mar 2023
₹702.00
+12 (0.00%)
01 Mar 2023
₹690.00
0 (0.00%)
28 Feb 2023
₹690.00
-19 (0.00%)
Day Silver
09 Mar 2023
₹700.00
0 (0.00%)
08 Mar 2023
₹700.00
0 (0.00%)
07 Mar 2023
₹700.00
0 (0.00%)
06 Mar 2023
₹700.00
0 (0.00%)
05 Mar 2023
₹700.00
0 (0.00%)
04 Mar 2023
₹700.00
0 (0.00%)
03 Mar 2023
₹700.00
-2 (0.00%)
02 Mar 2023
₹702.00
+12 (0.00%)
01 Mar 2023
₹690.00
0 (0.00%)
28 Feb 2023
₹690.00
-19 (0.00%)
Day Silver
09 Mar 2023
₹700.00
0 (0.00%)
08 Mar 2023
₹700.00
0 (0.00%)
07 Mar 2023
₹700.00
0 (0.00%)
06 Mar 2023
₹700.00
0 (0.00%)
05 Mar 2023
₹700.00
0 (0.00%)
04 Mar 2023
₹700.00
0 (0.00%)
03 Mar 2023
₹700.00
-2 (0.00%)
02 Mar 2023
₹702.00
+12 (0.00%)
01 Mar 2023
₹690.00
0 (0.00%)
28 Feb 2023
₹690.00
-19 (0.00%)
Day Silver
09 Mar 2023
₹700.00
0 (0.00%)
08 Mar 2023
₹700.00
0 (0.00%)
07 Mar 2023
₹700.00
0 (0.00%)
06 Mar 2023
₹700.00
0 (0.00%)
05 Mar 2023
₹700.00
0 (0.00%)
04 Mar 2023
₹700.00
0 (0.00%)
03 Mar 2023
₹700.00
-2 (0.00%)
02 Mar 2023
₹702.00
+12 (0.00%)
01 Mar 2023
₹690.00
0 (0.00%)
28 Feb 2023
₹690.00
-19 (0.00%)

Analysis of Gold Vs. Silver in Nagapattinam

The silver market is nearly 8 times bigger than that of gold. This makes silver much cheaper and more available than gold in the markets of prestigious goods. And also, it is, for this reason, the prices of silver stay volatile. Only about 12% of the gold supply goes to industrial uses. Whereas nearly 56% of the silver supply is used in the industry. These facts hold for many regions in India, including the town Nagapattinam.

Impact of GST on silver rates in Nagapattinam

Recently the government has changed the percentage of GST applicable to silver to 3%. Thus the rates of silver in Nagapattinam are hiked by 3%, not just in Nagapattinam but across the country. 

Paper silver Vs. Physical silver

Paper silver is an asset that reflects the price of silver while not being silver itself. Any real metal does not back it, so it’s considered to exist only on paper.

This kind of ownership over silver helps more for trading purposes than long-term investment purposes. Examples include silver certificates, pool accounts, silver futures accounts, etc.

The key benefit of paper silver is that you can avoid all the issues of storing silver in physical form. On the other hand, physical silver is a tangible asset that you can own.

FAQs of Silver Rate in Nagapattinam

Do the silver rates in Nagapattinam go up with inflation?

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For years now, silver has always served as a wonderful hedge against inflation. If you want to get the best gains during inflationary times, silver can help you with that.

How is silver measured in Nagapattinam?

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Can I buy silver without paying any taxes?

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Does silver have resale value?

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Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are subject to change with market value and are provided on an as-is basis. Wint Wealth has no commercial interest or gain in or from the actions resulting from the information displayed on this page. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of the data contained on this website.