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Silver Price in Ahmedabad
In India, people who purchase silver do so without the express intention of using it as an investment, but rather as a form of a princely gift in the form of jewelry, or ornaments. The mindset of investing in silver in Ahmedabad is changing, however, as access to real time information on the fluctuations in the price of silver are available to a newly educated population. Silver is now being viewed as an investable commodity.
Ahmedabad, the largest city and former capital of the state of Gujarat, is home to over 6 million people. It’s a fast growing metropolitan city with great potential and the people of this state stand perfectly poised to make the best of investing in silver as a tradable, valuable commodity.
Investing in Silver in Ahmedabad
Silver coins are available in various weightages, from many vendors. It’s important to ensure that your silver is embossed, marked, stamped or engraved in some way that certifies its purity and the fact that it is real silver. A certificate is also usually issued along with your silver. The coins can be bought in weights from 10 grams to 500 grams. The corresponding risk and reward is marginally lesser because the amount and weight of silver being held is in a lesser quantity.
Silver bullion is for those who wish to invest in larger quantities of silver, in the form of bars that range from 500 grams up to 5 kilos. Investing in larger quantities is marginally cheaper, and the silver bullion in your possession will appreciate or depreciate, bringing with it greater risk and reward, as it being held in a larger physical quantity. Most bullion bars are also embossed with serial numbers, which makes it hard to counterfeit them.
Silver coins and bullion is immediately and instantly tradable for up to 75% of its value in the market at that particular date, and can be held for longer periods of time to ensure a higher price. In this way, it can be collected and used as a safety net that appreciates over time. Collectors and those not proactively involved in managing their silver investment portfolio chose this option, as the silver passively increases its own value.
Silver jewelry is among the most expensive forms of silver available, as it incurs a 10% making charge and a 15% melting charge at the time of sale. It is the most popular form of silver bought and sold in India. It is bought and either held for its craftsmanship, or given as a gift during one of the many festivals and marriages that involve the purchase or gifting of precious metals as assets with aesthetic appeal.
Banks also sell silver, and this is a highly secured form of owning the precious metal. Banks like ICICI, HDFC, Kotak, etc. will always give you the purest form of certified silver, but at a price that’s usually higher than the current market rate.
Trend of Silver Rate in Ahmedabad for October 2016 (rates per kg)
|1st Day||Rs.45,900 per kilogram|
|Last Day||Rs.43,035 per kilogram|
|Highest Price||Rs.45,900 per kilogram on 1st and 2nd October|
|Lowest Price||Rs.41,685 per kilogram on 7th October|
October 2016 – Week 1 and 2 (1st to 9th)
- Bearish tendencies in the global market resulted in silver rates dropping this week.
- Silver traded at Rs.45,900 per kilogram on 1st and 2nd September, the highest price for the month.
- Demand declined as market trends did not favour the metal.
- By the end of the week, silver was seen trading at Rs.41,800 per kilogram.
- The lowest price recorded for this month was Rs.41,685 per kilogram on 7th October.
October 2016 – Week 3 (10th to 16th)
- Market trends took a turn and demand for silver climbed at the start of the week.
- Silver traded at Rs.42,600 per kilogram on 10th October, but the spike in demand was short lived.
- Reduced offtake from coin makers and industrial units led to a drop in silver prices.
- By the end of the week, silver rates had dropped to Rs.41,780 per kilogram.
October 2016 – Week 4 (17th to 23rd)
- On 17th October, silver traded at Rs.41,970 per kilogram.
- Silver prices picked up as industrial units and coin makers increased their offtake.
- Demand is expected to rise as the wedding season approaches.
- On 23rd October, silver traded at Rs.42,130 per kilogram on account of a slight recovery in demand.
October 2016 – Week 5 (24th to 31st)
- On 24th October, silver traded at Rs.42,330 per kilogram.
- The dollar lowered against a basket of currencies leading to positive trends for silver.
- Demand picked up in the global market.
- Festive demand in the domestic market also gave silver prices a boost.
- By the end of the week, silver traded at Rs.43,035 per kilogram.
- Though silver recovered on the back of increased demand, the trend of silver rates this month was a decline of 6.24%.
|1st Day||Rs.45,225 per kg|
|Last Day||Rs.45,750 per kg|
|Highest Price||Rs.47,820 per kg on 07th September|
|Lowest Price||Rs.45,225 per kg on 01st of September|
September Week 1 – (01st to 04th)
- The lowest silver rate was recorded on the first day of the month when silver traded at Rs.45,225 per kilogram.
- Due to demand from domestic market, silver prices increased on 02nd September.
- Silver rose and traded at Rs.45,610 on the second day of the week and continued to increase throughout the week.
- Silver prices closed at Rs.46,760 per kilogram.
September week 2- (05th to 11th)
- Silver prices managed to stay constant on the first day of week 2 as it continued to trade at Rs.46,760 per kilogram.
- Due to the expected Fed rate hike, silver prices reduced and touched Rs.46,695 on 06th of September.
- On 07th of September the highest silver rate of the month of Rs.47,820 per kilogram was recorded as silver participants increased their silver intake.
- Silver prices gradually declined from 08th of September and closed at Rs.46,835 per kilogram.
September week 3 (12th to 18th)
- Due to poor trend overseas, silver prices dropped and traded at Rs.45,715 per kilogram on 12th of September.
- Silver avoided major increase and decrease in prices throughout the week despite poor performance in international market.
- The highest silver rate for the week was recorded on 16th September when silver traded at Rs.45,840 per kilogram.
- Poor demand from domestic jewellers led to decrease in silver prices on 17th and 18th of September.
- Silver closed at Rs.45,370 per kilogram.
September week 4 (19th to 25th)
- Silver prices slightly increased on 19th of September as domestic demand picked up.
- Silver opened at Rs.46,110 per kilogram.
- On 22nd of September, silver prices rose further and traded at Rs.47,590 per kilogram.
- From 23rd September to the end of the week, silver rates traded at Rs.47,535 per kilogram as demand from coin makers and jewellers reduced..
September week 5 (26th to 30th)
- Silver prices did not increase significantly throughout week 5 due to Fed rate hike speculation.
- Industrialists and jewellers decreased their silver intake which further caused silver prices to drop.
- Silver opened at Rs.46,950 per kilogram.
- Silver further fell on 27th of September and traded at Rs.46,505 per kilogram before finally settling at Rs.45,750 per kilogram.
|1st July Rate||Rs.46,490 per kg|
|31st July Rate||Rs.48,970 per kg|
|Highest Rate in July||Rs.49,745 per kg on 11th July|
|Lowest Rate in July||Rs.46,490 per kg on 1st July|
|Overall Performance||Increase in price|
|% Change||+5.33% increase|
July'16 - Week 1 and 2 (1st to 10th)
- Silver prices were on the increase as the week began due to the low U.S. Dollar and weakened equity markets.
- Demand from the domestic market was also high, with industrial demand sustaining demand.
- Silver traded at Rs.47,920 per kg at the end of the first week.
- Prices continued to rise, with the price falling marginally towards the end of the week.
- The Dollar made a slight recovery as the stock market rallied and stabilised.
- Prices reached a high of Rs.49,300 per kg on the 6th of August but then fell as domestic demand dipped.
- Prices settled at Rs.47,720 per kg at the end of the week.
July'16 - Week 3 (11th to 17th)
- The silver price declined as markets stabilised and the Dollar recouped its losses of the previous weeks.
- Demand from overseas declined as the Dollar strengthened, with domestic demand also falling.
- Silver prices reached a high of Rs.49,745 per kg at the start of the week but low demand led to sharp decreases.
- Silver traded at Rs.48,840 per kg at the end of the third week.
July '16 - Week 4 (18th to 24th)
- Prices continued to slide as the Dollar made strong gains amid anticipation of a favourable economic growth report.
- Asian stocks took their cues from a resurgent U.S. market, leading to lowered demand from those markets as well.
- Domestic silver demand also fell on global cues.
- Silver traded at Rs.47,420 per kg at the end of the week.
July‘16 - Week 5 (25th to 31st)
- The price of silver increased as U.S. economic growth was lesser than expected, leading markets to fall.
- The Dollar weakened, causing demand for silver to rise, especially for overseas markets.
- Domestic silver demand also spiked as industrial demand increased.
- Silver traded at Rs.47,970 per kg at the end of the last week.
|June 1st Rate||Rs. 38,640 per 1 kg|
|June 30th Rate||Rs. 44,635 per 1 kg|
|Highest Rate in June||Rs. 44,635 per 1 kg for 1 kg for 30th June|
|Lowest Rate in June||Rs. 44,635 per 1 kg on June 1st|
Jun'16 - Week 1 (1st to 4th)
- Silver traded at Rs. 38, 640 per 1 kg on the 1st of June.
- Silver price rose by Rs.185 per kg on the 2nd of June at Rs. 38,825 per kg.
- Silver traded at Rs.39,755 per kg on the 4th of June.
Jun'16 - Week 2 (5th to 11th)
- There was no change in Silver prices on 5th as it traded at Rs. 39,755 per kg.
- The price of silver came down by Rs.65 from Rs. 39,755 per kg to Rs. 39,690 per kg on the 6th of June.
- Silver witnessed a further decline as prices dropped down to Rs. 39,585 per kg on the 8th of June.
- Prices steadily increased over the week and silver traded at Rs.41,510 per kg on the 11th of June.
Jun'16 - Week 3 (12th to 18th)
- Silver traded at Rs.41,510 per kg with no change in the price on 12th of June.
- The price steadily climbed up to Rs.41,935 per kg on the 14th of June.
- Silver hit the highest for the week on the 16th of June at Rs.42,985 per kg.
- Silver closed the third week of June at Rs.42,235 per kg on the 18th of June.
Jun'16 - Week 4 (19th to 25th)
- Silver opened the week at Rs.42,235 per kg on 19th of June.
- Prices shot up to Rs.42,405 per kg on the 21st of June.
- Silver price dropped down to Rs.42,020 per kg on the 22nd of June.
- The precious metal recovered over the rest of the week and hit Rs.43,465 per kg on the 25th of June.
Jun'16 - Week 5 (26th to 30th)
- Silver traded at Rs.43,465 per kg on the 26th of June.
- The price of silver dropped down by Rs.55 on the 27th of June at Rs. 43,410 per kg.
- Silver hit Rs.43,980 per kg on the 29th of June.
- Silver closed the month at Rs.44,635 per kg on the 30th of June.
|1st May rate||Rs. 42, 590|
|31st May rate||Rs. 39,065|
|Highest rate in May||Rs. 42, 675 on 2nd May|
|Lowest rate in May||Rs. 39,065 on 31st May|
May '16 - Weeks 1 and 2 (1st to 8th)
- Silver trading began on a positive note in May, as prices were Rs. 42, 590 on 1st of May and Rs. 41, 875 on the 8th of May.
- The rates dipped for a bit in the first two weeks by a small margin.
- Weak demand from industry as well as market volatility leading to currency gains caused the metal to go into free fall.
- Speculation of an imminent rate hike by the US Federal Reserve led to an upsurge in the Dollar, which in turn brought down the price of silver.
May '16 -Week 3 (9th to 15th)
- Silver rallied and made some initial gains in the third week of May, bolstered by industrial demand and the turbulence in the currency markets.
- Silver traded at Rs. 41, 725 on the 9th of May and at Rs. 41, 255 on the 15th of May.
- The initial gains gave way to a dip in price as the US Dollar experienced a bout of strong trading on the back of positive data from the housing market and renewed possibility of an interest rate hike.
- Silver made some gains on the 12th of May, trading at Rs. 41, 570 but market factors led to a drop in price by the end of the week.
May '16 - Week 4 (16th to 22nd)
- The fourth week of May saw silver continue its downward slide.
- Silver was trading at Rs. 41, 255 on the 16th of May and at Rs. 40, 135 on the 22nd of May.
- The sharp drop in price was attributed to the strong showing from the U.S. housing market, which grew for the third successive month, strengthening the Dollar.
- The Dollar rallied against other currencies as investors put their faith in the currency once again, leaving silver to steadily decline in price.
May '16 - Weeks 5 and 6 (23rd to 31st)
- Silver prices continued to drop in the fifth and sixth weeks.
- Silver rates were Rs. 40, 060 on the 23rd of May and Rs. 39,065 on the 31st of May.
- Silver prices rose on the 24th of May before steadily losing value over the rest of the fortnight.
- A dip in demand by investors as well as industry contributed to the decline in rate.
|1st March rate||Rs.37,005|
|31st March rate||Rs.36,495|
|Highest rate in March||Rs.38,640 on 18th|
|Lowest rate in March||Rs.36,455 on 29th|
Mar'16 - Week 1 (1st to 6th)
- Silver started March on a negative note.
- Prices were Rs.37,005 on 1st and Rs.36,640 on 6th.
- Silver prices appreciated to Rs.37,710 on 2nd before losing out the gains and settling at Rs.36,640 from 3rd to 6th.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Silver Rates appreciated in the 2nd week.
- Prices were Rs.37,695 on 7th and Rs.37,710 on 13th.
- Silver gained marginal value on 8th after which prices stabilized at Rs.37,710 for the rest of the week.
Mar'16 - Week 3 (14th to 20th)
- Silver prices were up again in the 3rd week.
- Prices were Rs.37,650 on 14th and Rs.37,865 on 20th.
Silver rose to a monthly high of Rs.38,640 on 18th before losing some of the gains and settling at Rs.37,865 for the week.
Mar'16 - Week 4 (21st to 27th)
- Silver rate declined in the 4th week.
- Rates were Rs.37,930 on 21st and Rs.36,685 on 27th.
- Prices rose on 21st before declining over the rest of the days.
Mar'16 - Week 5 (28th to 31st)
- Silver prices were marginally down in the last few days of March.
- Prices were Rs.36,570 on 28th and Rs.36,495 on 31st.
|1st February rate||Rs.34,970|
|29th February rate||Rs.36,295|
|Highest rate in February||Rs.38,640 on 12th|
|Lowest rate in February||Rs.34,970 on 1st|
Week 1 (1st to 7th)
- Silver Rates rose at the start of February.
- Prices were Rs.34,970 on 1st and Rs.36,925 on 7th.
- Silver gained value consecutively on all days of the 1st week, registering an overall rise of Rs.1.955.
Week 2 (8th to 14th)
- Silver Rates rose again in the 2nd week.
- Prices were Rs.36,950 on 8th and Rs.38,525 on 14th.
- Silver appreciated to Rs.38,640 on 12th, the highest rate this month before dropping marginally to Rs.38,525 by 14th.
Week 3 (15th to 21th)
- Silver prices continued appreciating going into the 3rd week.
- Prices were Rs.37,220 on 15th and Rs.37,930 on 21st.
- Silver touched a high of Rs.37,990 on 17th before settling at Rs.37,930 by the end of the week.
Week 4 (22nd to 29th)
- Silver rate declined in the final days of February.
- Rates were Rs.37,615 on 22nd and Rs.36,295 on 29th.
- Silver fluctuated in the 37,000s all through the week, except on 29th when prices fell below 37,000 to rest at Rs.36,295.
Highest rate in January
Rs.35,565 on 28th
Lowest rate in January
Rs.33,295 on 13th
Jan '16 - Week 1 (4thto 10th)
Silver Rates appreciated at the start of January.
Prices were Rs.33,230 on 4th and Rs.33,865 on 10th.
Silver prices rose on consecutive days to Rs.34,220 by 8th.
Prices declined to Rs.33,865 on 9th and settled at that level to end the week.
Jan '16 - Week 2 (11thto 17th)
Silver Rates appreciated again in the 2nd week.
Rates were Rs.33,750 on 11th and Rs.34,335 on 17th.
Silver lost value till 13th to settle at Rs.33,295 before making a comeback on 14th and 15th to rise to Rs.34,335.
Prices were stable at Rs.34,335 for the rest of the week.
Jan '16 - Week 3 (18thto 24th)
Silver Rates appreciated in the 3rd week too on the back of increased industrial offtake as well as increasing demand for coins.
Prices were Rs.34,115 on 18th and Rs.34,425 on 24th.
Silver rose to Rs.34,480 by 22nd before sliding marginally to Rs.34,425 on 23rd and 24th.
Jan '16 - Week 4 (25thto 31st)
Silver Rates appreciated again in the last week of January, completing the month on a positive note.
It was priced at Rs.34,435 on 25th and Rs.34,930 on 31st.
Silver prices rose to Rs.35,565 by 28th before dropping to Rs.35,045 on 29th and then to Rs.34,930 on 30th and 31st.
|Highest rate in December||Rs.35,050 on 5th and 6th|
|Lowest rate in December||Rs.33,050 on 18th|
- Silver Rates appreciated at the start of the month.
- Prices were Rs.34,040 on 1st and Rs.35,015 on 7th.
- Silver dropped to Rs.33,660 on 3rd before rallying to Rs.35,050.
- Silver lost marginally to settle at Rs.35,015 for the week.
- Silver Rates dropped again in the 2nd week.
- Rates were Rs.34,115 on 8th and Rs.33,670 on 14th.
- Silver traded above Rs.34,000 almost throughout the week except for 11th and 14th when prices were Rs.33,915 and Rs.33,670 respectively.
- Silver Rates appreciated marginally in the 3rd week.
- Prices were Rs.33,230 on 15th and Rs.33,900 on 21st.
- Silver rates were up all through the week except on 18th when prices dropped to Rs.33,050.
- Silver Rates dropped in the last week of December.
- It was priced at Rs.34,020 on 22nd and Rs.33,405 on 31st.
- Silver was trading upwards of Rs.34,000 throughout the week before dropping to Rs.33,545 on 30th and again on 31st to Rs.33,405.
|Highest rate in November||Rs.37,670 on 1st, 2nd and 3rd|
|Lowest rate in November||Rs.33,940 on 30th|
- Silver Rates depreciated at the start of the month.
- Prices were Rs.37,670 on 1st and Rs.35,800 on 7th.
- Silver was stable in the first 3 days at Rs.37,670 before going through two negative sessions that brought rates down to Rs.36,070 by 5th.
- Prices stabilized on 6th before falling to Rs.35,800 on 7th.
- Silver Rates dropped in the 2nd week also.
- Rates were Rs.25,800 on 8th and Rs.34,665 on 14th.
- Prices rose to Rs.36,100 on 9th before losing out the gains over the next 2 days to settle at Rs.34,875 on 11th.
- Silver dropped to Rs.34,665 on 12th and stayed there for the remaining part of the week.
- Silver Rates depreciated marginally in the 3rd week.
- Prices were Rs.34,665 on 15th and Rs.34,100 on 21st.
- Silver stayed stable at Rs.34,665 till 17th before dropping to Rs.34,100 on 18th and stabilizing at that level till 21st.
- Silver Rates were stable overall in the last week of November.
- It was priced at Rs.34,025 on 22nd and Rs.33,940 on 30th.
- Prices rose to Rs.34,290 on 26th and to Rs.34,310 on 27th before settling at Rs.34,090 on 28th and 29th.
- Silver dropped to month ending rate of Rs.33,940 on 30th.
Market Rates & Silver Price Trend in Ahmedabad
The silver rate fluctuates due to many market forces like inflation, demand and supply, movements in the stock market, etc. The price of silver in Ahmedabad has remained mostly constant over the last few months, staying between Rs.39 and Rs.41 (per gram), and is more stable than gold. Detailed study of the fluctuations in prices and the reasons for the same can be used to your advantage as an investor.
Buying Silver in Ahmedabad
One can buy silver coins, bars and bullion in many retail outlets across Ahmedabad like Silver Emporium, Raj Jewellers, Malabar Gold and Diamonds, Kantilal Shivali Zaveri, Chandi Khazana, Al-Haq Jewellers, and a number of merchants around the city.
When buying silver in Ahmedabad, it is highly recommended that you buy from a well-established and certified dealer. Ensure that the silver is marked, stamped, engraved or in some way certified and determined to be authentic silver of established purity. Ensure that you also get a certificate of authenticity which contain details of weight, amount purchased, purity and current rate.
Also Check Silver Price in NearBy Cities of Ahmedabad
|Silver Rate In Mumbai||Silver Rate In Jaipur||Silver Rate In Indore|
|Silver Rate In Nagpur||Silver Rate In Pune||Silver Rate In Surat|
|Also Know: Gold Rate in Ahmedabad|