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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 July 2017 (rates per kilogram)
|July 1 Rate||Rs.38,640 per kg|
|July 31 Rate||Rs.38,640 per kg|
|Highest Rate in July||Rs.38,690 per kg on 3 July|
|Lowest Rate in July||Rs.36,035 per kg on 10 July|
|Overall Monthly Performance||No change|
Trend of Silver Rate in Ahmedabad for June 2017 (rates per kg)
|June 1 Rate||Rs.40,285 per kg|
|June 30 Rate||Rs.38,995 per kg|
|Highest Rate in June||Rs.40,890 per kg on 7 June|
|Lowest Rate in June||Rs.38,455 per kg on 21 June|
|Overall Monthly Performance||Decline|
Trend of Silver Rate in Ahmedabad for May 2017 (rates per kg)
|Parameters||Silver Price in Ahmedabad|
|May 1st Rate||Rs.40,040 per kg|
|May 31st Rate||Rs.40,060 per kg|
|Highest Rate in May||Rs.40,520 per kg on 30th of May|
|Lowest Rate in May||Rs.37,705 per kg on 11th and 12th of May|
May 2017 - Week 1 (1st - 7th):
- In Ahmedabad, silver price trends for May saw a negligible change when considering only the first and the last day’s prices. However, the remaining 29 days in between witnessed plenty of eventful changes.
- On the 1st of May, silver was priced at Rs.40,040 per kg, which then went down to Rs.39,115 per kg on the 2nd due to a massive drop in demand.
- Prices fell again on the 3rd to Rs.38,925 per kg as jewellers - coin makers in particular - remained wary of investing in the metal.
- The 4th saw prices fall yet again and ended the day’s pricing at Rs.38,230 per kg.
- On 5th, silver prices decreased for the fifth consecutive day as rates went down to Rs.37,965 per kg but increased on the 6th to reach Rs.38,005 per kg.
- When the week came to an end on the 7th, silver prices were still holding at Rs.38,005 per kg.
May 2017 - Week 2 (8th - 14th):
- When the second week of May began in Ahmedabad, silver prices had regressed by Rs.40 to start at Rs.37,965 per kg.
- On the 9th, prices went down by Rs.100 due to a lack of demand for silver to trade at Rs.37,865 per kg.
- The 10th of May was when silver prices hit their lowest for the month. The low prices were due to a constant decrease in demand over the previous few days.
- On the 11th, silver prices were the same as on the 10th - at Rs.37,705 per kg.
- However, silver prices rallied over the next few days to end the week on a relative high.
- During the trading hours of the 12th, silver prices were recorded at Rs.37,865 per kg, which then went up to Rs.38,005 per kg on the 13th.
- The last day of May week 2 didn’t see any price change as silver was still trading at Rs.38,005 per kg.
May 2017 - Week 3 (15th - 21st):
- Unlike the previous week, silver prices gained overnight to start the 15th at Rs.38,230 per kg - a Rs.225 incline.
- Prices went up again on the 16th as demand from coin makers and the industrial sector rose considerably.
- On the 16th, silver was priced at Rs.38,640 per kg and went up again on the 17th to trade at Rs.38,995 per kg.
- Silver rates went up again on the 18th - this time by Rs.270 to close the day at Rs.39,265 per kg, but fell the next day to Rs.38,815 per kg due to a sudden drop in demand.
- Prices rose on the 20th to Rs.39,115 per kg after an unexpected fall the previous day.
- When the week came to an end, silver prices were still remained at Rs.39,115 per kg.
May 2017 - Week 4 (22nd - 28th):
- The fourth week of May saw prices fluctuate consistently due to an uneven demand for the metal.
- When the week began on the 22nd, silver was trading at Rs.39,265 per kg, which inclined to Rs.40,040 per gram on the 23rd.
- However, the rapid rise in demand couldn’t be sustained, leading to a drop of Rs.370 per kg, to bring prices down to Rs.39,670 per kg.
- After an anomalous fall, prices went up to Rs.39,950 per kg on the 25th and remained level on the 26th as well.
- The 27th saw prices increase to Rs.40,190 per kg and remained unchanged till the end of the week.
May 2017 - Week 5 (29th - 31st):
- When trading began for the final week of May, silver prices were recorded at Rs.40,285 per kg.
- Silver prices went up on the 30th to trade at Rs.40,520 per kg - making it the highest trading rate for the entire month.
- The same demand couldn’t be sustained which led to prices falling on the final day of May 2017 to Rs.40,060 per kg.
- Overall, silver prices inclined in Ahmedabad at a marginal rate of 0.04% for the month of May.
Trend of Silver Rate in Ahmedabad for April 2017 (rates per kg)
|April 1st Rate||Rs.42,570 per kg|
|April 30th Rate||Rs.40,040 per kg|
|Highest Rate in April||Rs.43,055 per kg on the 15th and 16th of April|
|Lowest Rate in April||Rs.40,040 per kg on the 29th and 30th of April|
April ‘17 - Week 1 (1st to 9th)
- On the first day of the fourth month in Ahmedabad, silver was priced at Rs.42,570 per kg and this rate continued until the next day.
- The next day, the U.S. Federal Reserve exhibited a cautious tone regarding the change in interest rates resulting in a decline in the rate of silver.
- On the 3rd of the month, silver was priced at Rs.42,435 per kg before increasing to trade at Rs.42,730 per kg the next day.
- Due to sluggish data from the U.S. regarding economy, there were no significant variations in the price of this precious metal.
- Silver rate fell on the 6th of April to trade at Rs.42,640 per kg and reduced further the next day to be priced at Rs.42,570 per kg.
- Rate of this metal increased again to Rs.42,640 per kg on the last two days of the first week.
April ‘17 - Week 2 (10th to 16th)
- On the 10th of April, silver was priced at Rs.41,625 per kg and increased slightly the next day.
- Due to an increase in the demand for this metal from coin makers and industrialists across the country, silver traded at Rs.41,780 per kg on the 11th of April.
- However, this demand could not be sustained and the rate of silver reduced to trade at Rs.42,640 per kg on the 12th of April before rising again to Rs.42,775 per kg on the 13th.
- Silver rate fell again on the 14th to trade at Rs.43,030 per kg due to a fall in the demand.
- However, on the last two days of the month, the demand for this metal rose sharply, resulting in silver trading at Rs.43,055 per kg which was also the highest at which this metal was priced for the month.
April ’17- Week 3 (17th to 23rd)
- Rate of silver fell to Rs.43,030 per kg on the 17th of April as the value of the U.S. dollar increased. However, this fall was temporary and silver rates recovered the next day.
- Silver was priced at Rs.42,775 per kg on the 18th of April in Ahmedabad but fell the next day to trade at Rs.42,435 per kg.
- This rate was noted on the 19th of April as well.
- However as the demand for this metal fell, silver rate reduced as well to trade at Rs.42,080 per kg on the 21st of April.
- On the last two days of the week, silver traded at Rs.41,980 per kg due to a marginal rise in the demand for this metal.
April ’17- Weeks 4 (24th to 30th)
- Silver was priced at Rs.41,625 per kg on the first day of the last week of April in Ahmedabad. This reduced price can be attributed to a decline in the demand for this metal.
- Silver traded at Rs.41,435 per kg on the 25th of April and fell to Rs.40,520 per kg on the 26th of April.
- Emmanuel Macron, a centrist candidate won the first round of the presidential elections in France resulting in price variations of silver.
- Due to stable demand for silver, the price of silver was Rs.40,190 per kg on the 28th of April. The rate fell again and silver was priced at Rs.40,040 per kg on the last two days of the week. This was also the lowest at which silver was priced for the month of April.
- At the end of April, a decline of 5.94% was noted in the rate of silver in Ahmedabad.
Trend of Silver Rate in Ahmedabad for March 2017 (rates per kg)
|March 1st Rate||Rs. 43,970 per kg|
|March 31st Rate||Rs. 42,115 per kg|
|Highest Rate in March||Rs. 44,100 per kg on 2nd March|
|Lowest Rate in March||Rs. 40,040 per kg on 15th March|
March ‘17 - Week 1 (1st to 5th)
- The price of silver in Ahmedabad was recorded at Rs.43,970 per kg on the 1st of March.
- On the second, an incline by Rs.130 saw prices to rise to Rs.44,100 per kg. This was also the highest rate of the metal recorded in March.
- Prices fell to a considerable extent on the 3rd of March owing to decrease in demand from industrialists and coin makers as well as international events that affected gold prices too, and silver traded at Rs.42,730 per kg on that day.
- On the 4th of March, prices inclined to Rs.43,295 as demand started to pick up, and they remained table for the following day as well to close the week at the aforementioned rate.
March ‘17 - Week 2 (6th to 12th)
- The price of silver on the opening day of the second week of March was Rs.42,925 – the same as the price on the closing day of the first week of the month.
- Prices dropped marginally on the next few days owing to decrease in demand. They were recorded at Rs.42,570 per kg on the 7th of March, Rs.41,900 per kg on the 8th of March, and Rs.41,435 per kg on the 9th of March.
- A considerable decrease on the 10th of March saw prices tumble to Rs.40,670 per kg, after which another decrease saw rates drop to Rs.40,520 per kg on the 11th.
- Prices remained stable on the last day of the second week of March as demand remained stable and the value of the metal at the close of trading was Rs.40, 520 per kg.
March ’17- Week 3 (13th to 19th)
- The price of silver on the first day of the third week of March was Rs.40,760 per kg thanks to a small incline in demand.
- Prices fell by Rs.320 on the second day of the third week and were recorded at Rs.40,440 per kg.
- On the 15th of March, prices hit their lowest levels in the month as they touched Rs.40,040 per kg, after which an incline by Rs.850 saw them rise to Rs.40,890 per kg on the 16th.
- A minor decrease on the 17th saw prices fall to Rs.40,815 per kg and rates remained stable for the next three days, closing the third week of March at Rs.40,815 per kg.
March ’17- Week 4 (20th to 26th)
- Silver opened the penultimate week of the month at Rs.41,075 per kg, marking a small incline from the closing levels of the previous week.
- Prices fell by Rs.350 on the 21st of March and were recorded at Rs.40,725 per kg.
- On the 22nd of the month, prices rose marginally and were recorded at Rs.41,230 per kg.
- Thanks to an incline in demand, silver closed the penultimate week of March on a strong note as rates rose to Rs.41,340 before rising again and closing the seven-day period at Rs.41,435 per kg.
March ’17 – Week 5 (27th to 31st)
- The price of silver on the first day of the last week of March was recorded at Rs.41,900 per kg.
- On the 28th of March, an incline by Rs.215 saw prices rise to Rs.42,115 per kg, and stable demand ensured that prices remained the same on the 29th of the month as well.
- Prices inclined by Rs.320 on the penultimate day of the month to settle at Rs.42,435 per kg, and a decrease by the same amount on the last day of the month saw the metal close March at Rs.42,115 per kg.
|February 1st Rate||Rs.42,520 per kg|
|February 28th Rate||Rs.44,165 per kg|
|Highest Rate in February||Rs.44,165 per kg on 28th February|
|Lowest Rate in February||Rs.42,115 per kg on 3rd February|
February ‘17 - Week 1 (1st to 5th)
- Silver prices in Ahmedabad fluctuated in the first week of February due to reduced demand from coin makers.
- Silver was priced at Rs.42,520 per kg on 1st February, with the price rising to Rs.42,640 per kg on 2nd February .
- A drop in industrial demand led to a fall in price, as silver traded at Rs.42,115 per kg on 3rd February.
- Prices rose marginally as the week ended, with silver trading at Rs.42,335 per kg on 5th February, recording a weekly decrease in price of Rs.165 per kg.
February ‘17 - Week 2 (6th to 12th)
- The second week saw silver traded at Rs.42,520 per kg on 6th February, with the prices rising to Rs.42,930 per kg on 7th February on increased demand from coin makers.
- Prices fluctuated during the week, with silver trading at Rs.42,950 per kg on 9th February before falling to Rs.42,375 per kg on 10th February due to a slump in industrial demand.
- A rise in local demand led to prices rising marginally as silver traded at Rss.42,570 per kg on 11th February.
- Prices remained unchanged as the week ended, with silver trading at Rs.42,570 per kg on 12th February.
February ’17- Week 3 (13th to 19th)
- A resurgent U.S. Dollar led to silver demand being muted as the week began, with the metal trading at Rs.43,280 per kg on 13th February.
- Prices rose to Rs.43,115 per kg on 15th February and later rose to Rs.43,520 per kg on 17th February due to a sudden drop in the value of the U.S. Dollar due to a projected drop in growth rates for the month.
- Local demand kept prices stable as demand fluctuated, trading at Rs.43,400 per kg on 18th February.
- The week ended with silver trading at Rs.43,400 per kg on 19th February, recording a weekly increase of Rs.120 per kg.
February ’17- Weeks 4 & 5 (20th to 28th)
- The price of silver in the last two weeks of February fluctuated due to U.S. Dollar rates and an uncertain market.
- Silver was priced at Rs.43,270 per kg on 20th February, with the price falling further to trade at Rs.43,240 per kg on 22nd February.
- A slight rise in demand from industrial units led to silver trading at Rs.43,680 per kg on 24th February.
- A drop in market value due to the implementation of various measures that could hurt the U.S. market in the long term led to greater demand for bullion.
- Silver prices rose to Rs.43,910 per kg on 25th February, with the price rising to Rs.44,110 per kg on 27th February.
- Silver prices continued to rise as the month ended, trading at Rs.44,165 per kg on 28th February to record an overall increase of 3.86%.
|January 1st Rate||Rs.39,035 per kg|
|January 31st Rate||Rs.41,980 per kg|
|Highest Rate in January||Rs.42,180 per kg on 18th January|
|Lowest Rate in January||Rs.39,035 per kg on 1st January|
January ‘17 - Week 1 (1st to 7th)
- Silver prices for the month of January were on the increase as heightened demand from coin makers as well as industry led to a rise in price.
- Silver was priced at Rs.39,035 per kg on 1st January, with the price rising as demand was high due to a relatively weak U.S. Dollar.
- Silver traded at Rs.40,670 per kg on 5th January as demand from coin makers rose following a slight dip in the U.S. Dollar.
- Prices fell marginally as the week ended, as silver traded at Rs.40,390 per kg on 7th January, recording a weekly increase in price of Rs.1,355 per kg.
January ‘17 - Week 2 (8th to 14th)
- Silver was priced at Rs.40,390 per kg on 8th January as prices were stable from the previous week, though there was an increase in price as the week progressed.
- Silver traded at Rs.40,815 per kg on 10th January as markets dropped, which resulted in an increase in demand for bullion both locally as well as internationally.
- Demand from Asia was particularly high, which helped drive prices to Rs.41,265 per kg on 12th January.
- Prices fluctuated in the next few days, with solver prices falling to Rs.41,030 per kg on 13th January on weakened demand.
- The week ended with silver trading at Rs.41,230 per kg on 14th January, recording a rise in price of Rs.840 per kg.
January ’17- Week 3 (15th to 21st)
- The third week saw the price of silver continue to rise due to sustained buying from industry and an increase in local retail demand.
- Gold traded at Rs.41,230 per kg on 15th January and rose to Rs.41,560 per kg on 16th January.
- Market fluctuations led to the U.S. Dollar dropping as speculation over how the monetary policy would be affected following Trump’s inauguration led to a drop in markets.
- Silver traded at Rs.41,805 per kg on 19th January as demand from Asia continued to keep prices high.
- Solver ended the week trading at Rs.41,930 per kg on 21st January, recording an increase in price of Rs.700 per kg.
January ’17- Weeks 4 & 5 (22nd to 31st)
- The last two weeks saw the price of silver fluctuate due to market rates, as silver prices were volatile during this period.
- Silver traded at Rs.41,930 per kg on 22nd January, with the price rising to Rs.42,180 per kg on 23rd January on sustained demand from the industrial sector.
- Local silver demand fell as the U.S. Dollar rose marginally, resulting in silver falling to Rs.41,425 per kg on 26th January.
- The price fell further to Rs.41,075 per kg on 28th January due to a sudden rally by the stock markets, which led to a decline in industrial demand.
- Prices recovered as the month ended, trading at Rs.41,980 per kg on 31st January.
|December 1st Rate||Rs.40,450 per kg|
|December 31st Rate||Rs.39,035 per kg|
|Highest Rate in December||Rs.41,630 per kg on 8th December|
|Lowest Rate in December||Rs.38,460 per kg on 26th December|
December '16 - Week 1 (1st to 4th)
- Price of silver in Ahmedabad kicked off at Rs.40,450 per kg as the month began, trading on 1st December. The price of silver steadily as the week progressed.
- Stock markets fluctuated and a relatively volatile U.S. Dollar led to a higher demand for this metal.
- Price of silver rose to Rs.41,070 per kg on 3rd December, but remained constant for the rest of the week until 4th December.
December '16 - Week 2 (5th to 11th)
- Prices were stable at the beginning of the second week of december due to steady demand.
- Silver traded at Rs.41,055 per kg on 5th December. Silver rates increased due to a rise in demand from coin makers.
- Silver rates increased to a monthly high of Rs.41,630 per kg on 8th December as demand for this precious metal increased abroad as well.
- Prices dipped as the week ended, with silver trading at Rs.41,345 per kg on 11th December.
December '16 - Week 3 (12th to 18th)
- Price of silver was steady at Rs.41,345 per kg on the 12th of December, but declined thereafter.
- Demand for silver fell i as the U.S. Dollar strengthened amidst speculation of a hike in the U.S. Federal Reserve interest rate.
- Silver was priced at Rs.40,605 per kg on 15th December and continued declining even further after that.
- Prices dropped to Rs.39,230 per kg on 16th December as industrial bookings fell and demand from industry in Asia also slowed down.
- Silver ended the week trading at Rs.39,305 per kg on 18th December.
December '16 – Week 4 (19th to 25th)
- In the run up to Christmas, the demand for silver decreased further as a surge of holiday shopping kept currencies and stock markets steady.
- Silver traded at Rs.39,435 per kg on 19th December, with the price falling to Rs.39,195 per kg the next day due to a reduction in demand.
- As the month progressed, the price of silver declined steadily.
- Prices recovered marginally as silver closed the week trading at Rs.38,725 per kg on 25th December.
December '16 – Week 5 (26th to 31st)
- On the first day of the fifth week of December, the price of silver dropped to Rs.38,460 per kg which was the lowest rate at which silver traded at for the month of December in Ahmedabad.
- Silver was priced at Rs.38,690 per kg on 27th December and rose to Rs.39,345 per kg on 28th December as consumer demand began to rise.
- With the U.S. Federal Reserve not raising interest rates, U.S. Dollar slightly declined.
- Stock markets did not perform well on fears of an economic slowdown in Asia, which increased the demand for silver.
- Silver ended the year priced at Rs.39,035 per kg on 31st December, though the value of silver fell by 3.49% during the month.
|November 1st Rate||Rs.42,910 per kg|
|November 30th Rate||Rs.41,055 per kg|
|Highest Rate in November||Rs.44,960 on 9th November|
|Lowest Rate in November||Rs.40,190 per kg on 25th November|
November '16 - Week 1 (1st to 6th)
- Silver prices in Ahmedabad for the month of November started on a high note due to an increase in demand from the industrial sector.
- On 1st November, silver was priced at Rs.42,910 per kg and increased further thereafter.
- Prices rose as the week continued, with silver trading at Rs.43,855 per kg on 3rd November.
- The week ended with silver trading at Rs.44,180 per kg on 4th. This high price can be attributed to growing demand both domestically as well as internationally.
November '16 - Week 2 (7th to 13th)
- The price of silver was steady at Rs.44,180 per kg on the first day of the second week of November due to increased demand as a result of demonetisation.
- Silver was priced at Rs.43,685 per kg on 7th November and rose as the week progressed.
- Donald Trump’s surprise win in the U.S. presidential election led to a fall in markets, which increased the demand for silver.
- Price of silver touched a monthly high of Rs.44,960 per kg on the 9th. However, this high rate could not be sustained and prices slightly declined thereafter.
- Silver traded at Rs.42,005 per kg on 13th November, with prices falling as the week ended.
November '16 - Week 3 (14th to 20th)
- Decrease in demand resulted in a price drop of silver. With most scrambling to get their hands on cash post demonetization announcement, the requirement for silver decreased.
- Silver was priced at Rs.41,760 per kg on 14th November, as international demand was also slow thanks to a market that was recovering.
- The possibility of a U.S. Fed rate increase led to the U.S. Dollar strengthening, resulting in a decrease in the demand for silver.
- On the 17th, price of silver was Rs.41,495 per kg, but steadily decreased thereafter.
- Prices fell as the week ended, with silver being priced at Rs.40,735 per kg on 20th November which was a continuation of the previous day’s price.
November '16 - Week 4 and 5 (21st to 30th)
- There were a number of fluctuations noted in the price of silver during the last week of November.
- Silver was priced at Rs.40,890 per kg on 21st November again due to sluggish demands.
- Prices increased slightly to Rs.41,325 per kg on 22nd November before dropping again.
- The price of silver on the 25th of November was Rs.40,190 which was the lowest at which silver traded during the month of November.
- Prices were stable for the rest of the week, with silver closing the month at Rs.41,055 per kg on 30th November.
- A decline of 4.32% was noted in the price of silver during the month of November.
|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|