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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 January 2018 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver rate on 1st January 2018||Rs.38,925 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.38,925 per kg on 1, 2 and 10 January|
|Overall Monthly Performance||Incline|
Trend of Silver Rate in Ahmedabad for December 2017 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver Rate on 1st December 2017||Rs.41,800 per kg|
|Silver Rate on 31st December 2017||Rs.43,000 per kg|
|Highest Rate in December||Rs.43,000 per kg on 30 December|
|Lowest Rate in December||Rs.40,100 per kg on 06 December|
|Overall Monthly Performance||Increasing|
December2017 - Week 1 (1st to 10th)
- Trading opened in Ahmedabad with silver priced at Rs.38,230 per kg on the 1st of December.
- However, with the US dollar rising significantly in the global markets, prices plunged to Rs.38,120 per kg on the 2nd.
- Silver rates remained unchanged at Rs.38,120 per kg on the 3rd before plummeting further to Rs.37,965 per kg the following day with subdued demand from coin manufacturers and industries amid the poor trend overseas.
- The strong US dollar index coupled with well-performing equities led to silver rates declining further during the week.
- The industrial metal was priced at Rs.37,600 per kg on the 6th before dropping to Rs.37,180 per kg on the 7th.
- With the US Senate approving the country’s biggest tax system overhaul plan, the US dollar rose against a basket of other emerging currencies. This led to silver prices plummeting to Rs.36,715 per kg on the 8th.
- Rates remained unchanged at Rs.36,715 per kg for the remainder of the week with investors and markets equally cautious ahead of the US Federal Reserve’s monetary policy meeting during the month.
December 2017 - Week 2 (11th to 17th)
- The second week commenced with silver trading relatively higher at Rs.36,920 per kg on the 11th owing to a slight increase in industrial demand for the metal.
- Though prices remained steady at Rs.36,920 per kg the next with sustained demand, the 13th saw rates declining to Rs.36,545 per kg amid the strengthening US dollar and rising equities.
- The Federal Reserve’s decision to raise its benchmark interest rates had a negative impact on the equities market. This led to silver rates surging to Rs.37,295 per kg on the 14th.
- However, demand couldn’t keep up against the recovering dollar during the week. This led to the white metal prices plunging to Rs.37,235 per kg on the 15th which dropped further to Rs.36,920 per kg on the following day.
- Thanks to an increased demand from industrial units and coin makers, rates rebounded to Rs.37,180 per kg on the 17th as the week came to an end.
December 2017 - Week 3 (18th to 24th)
- Silver was priced at Rs.37,600 per kg on the 18th when the week began.
- Prices surged to Rs.37,600 per kg the next day with stockists and traders speculating on the impact of the tax system overhaul on the US economy.
- The 20th saw silver rates remaining unchanged at Rs.38,395 per kg with steady demand from industries and coin makers amid the positive trend overseas.
- Though prices declined to Rs.37,600 per kg on the 21st, silver rates rebounded to Rs.37,865 per kg on the 23rd with the new US tax cuts proving to be unfavourable for the Asian stock market.
- Steady industrial demand coupled with strong global cues led to the white metal prices remaining unchanged at Rs.37,865 per kg for the remainder of the week.
December 2017 - Week 4 (25th to 31st)
- When trading commenced for the last week, silver rates were recorded holding at Rs.38,395 per kg on the 25th.
- However, with the US dollar attempting to make a comeback from its previous week’s losses, prices dropped to Rs.3,005 per kg the next day.
- Positive investor sentiments amid the positive global trends led to rates surging significantly towards the end of the week.
- On the 27th, the industrial metal was priced at Rs.38,815 per kg which surged further to Rs.38,825 per kg on the 28th amid the weakened US dollar and poorly performing equities.
- The 30th saw silver prices rise to Rs.39,265 per kg with an increase in domestic demand amid the positive trends overseas.
- The week concluded with the industrial metal prices holding firm at Rs.39,265 per kg on the 31st and Ahmedabad registered a profit of 2.70% in silver trade during the course of the month.
Trend of Silver Rate in Ahmedabad for November 2017 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver rate on 1st November 2017||Rs.38,995 per kg|
|Silver rate on 30th November 2017||Rs.38,640 per kg|
|Highest Rate in November||Rs.40,520 per kg on 18 and 19 November|
|Lowest Rate in November||Rs.38,640 per kg on 30 November|
|Overall Monthly Performance||Decline|
November 2017- Week 1 (1st to 5th)
- The month began with silver trading at Rs.38,995 per kg on 1 November in Ahmedabad, with prices fluctuating due to demand vagaries.
- Silver traded at Rs.39,950 per kg on 2 November as local demand jumped due to a sudden increase in orders from industry.
- Demand continued to rise as markets were unsteady, spurring demand from industrial units both locally as well as overseas.
- Silver traded at Rs.39,355 per kg on 4 November as prices remained constant till the week ended on 5 November.
November 2017- Week 2 (6 to 12)
- The week opened with silver priced at Rs.39,355 per kg on 6 November as demand from the previous week kept prices steady.
- Silver rate in Ahmedabad surged to Rs.40,040 per kg on 7 November as uncertainty in the Middle East over Saudi Arabia’s surprise corruption purge threw markets awry.
- Local demand also rose as the dollar suffered a drastic plunge, resulting in silver price in Ahmedabad holding steady at Rs.40,040 per kg on 8 & 9 November.
- Demand began to dip as the week progressed, with silver priced at Rs.39,970 per kg on 10 November.
- There was no change in price as the week drew to a close, with silver maintaining its price of Rs.39,970 per kg on 12 November.
November 2017- Week 3 (13th to 19th)
- The third week saw the price of silver touch its monthly high due to continued market fluctuation over the political uncertainty in Saudi Arabia as well as the ongoing tensions with North Korea.
- Silver traded at Rs.39,870 per kg on 13 November, dipping marginally due to a strong opening by markets across the world.
- Silver price in Ahmedabad soon rose as the Brexit fallout had the U.K. markets tumbling, with silver surging to Rs.40,140 per kg on 14 November.
- Silver continued to make gains as the metal rose to Rs.40,240 per kg on 15 & 16 November, with increased orders from Asian industrial units.
- Coin makers also saw a rise in orders, though prices did not see much of a change.
- Silver rate in Ahmedabad dipped to Rs.40,040 per kg on 17 November as demand regularised following a recovery by the markets.
- Tensions with North Korea flared up again as the week drew to a close, resulting in silver jumping to Rs.40,520 per kg on 18 & 19 November.
November 2017- Week 4 (20th to 26th)
- Silver traded at Rs.40,440 per kg on 20 November as commodity markets opened strongly after the previous week’s surge in demand.
- Prices slowly began to regularise themselves as silver rate in Ahmedabad fell to Rs.39,780 per kg on 21 November, though local demand was steady.
- The overall decline in demand in the international market led to local prices dropping to Rs.39,265 per kg on 22 November.
- Prices recovered as silver traded at Rs.40,060 per kg on 23 November due to a sudden rise in local demand following a market downturn.
- Demand was subject to the fluctuating markets, which led to the white metal trading at Rs.40,040 per kg on 24 November as tensions with North Korea dominated the markets.
- The week ended with silver rate in Ahmedabad continuing to fluctuate, trading at Rs.39,780 per kg on 26 November.
November 2017- Week 5 (27th to 30th)
- The final week of November saw silver prices dip due to a steady drop in demand.
- The industrial metal opened the week trading at Rs.39,780 per kg on 27 November, the price remaining unchanged from the previous week due to muted trading on the commodity exchanges.
- Silver price in Ahmedabad fell to Rs.39,680 per kg on 28 November as the initial surge of demand petered out following a market recovery.
- Silver rate in Ahmedabad fell to Rs.39,115 per kg on 29 November as the U.S. economy appeared to be on the upswing in spite of the internal and economic turmoil enveloping the country.
- Silver prices continued to drop as the month drew to a close as the metal traded at Rs.38,640 per kg on 30 November.
Trend of Silver Rate in Ahmedabad for October 2017 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver Rate on 1st October 2017||Rs.39,530 per kg|
|Silver Rate on 31st October 2017||Rs.39,435 per kg|
|Highest Rate in September||Rs.40,440 per kg on 16 October|
|Lowest Rate in September||Rs.39,110 per kg on 5 and 19 October|
|Overall Monthly Performance||Decline|
October 2017 - Week 1 (1st-8th):
- The week commenced with the industrial metal priced at Rs.39,530 per kg.
- Steady domestic demand from industrial units and coin makers led to silver price in Ahmedabad remaining unchanged on the 2nd as well.
- However, strong equity markets coupled with firmer dollar led rates plunging to Rs.39,265 per kg on the 3rd.
- Prices declined over the next few days with investors speculating over the possibility of a new Fed rate hike in December. This led to silver rate in Ahmedabad plummeting to Rs.39,110 per kg - the lowest recorded monthly figure - on the 5th.
- Thanks to strong global trends, prices recovered towards the end of the week with a significant increase in domestic demand. This led to the white metal being priced at Rs.39,680 per kg on the 7th and 8th.
October 2017 - Week 2 (9th-15th):
- Positive global trends coupled with strong domestic demand led to silver rate in Ahmedabad rising during the second week of October.
- When the week began, the industrial metal was recorded trading at Rs.39,950 per kg on the 9th.
- Local demand surged with the imminent arrival of the festive season. This led to silver price in Ahmedabad rising to Rs.40,060 per kg and Rs.40,285 per kg on the 10th and the 11th respectively.
- Strong global cues coupled with an improved demand amid the festive season led to the white metal being priced at Rs.40,390 per kg for the remainder of the week.
October 2017 - Week 3 (16th-22nd):
- The third week commenced with the industrial metal trading at Rs.40,440 per kg - the highest recorded monthly figure - on the 16th.
- However, the next few days saw the metal prices declining on account of weak overseas trends amid strong equities market and a firmer dollar. The white metal was priced at Rs.40,060 per kg and Rs.39,110 per kg on the 18th and the 19th.
- Thanks to the arrival of Diwali, festive demand surged domestically pushing prices higher to Rs.40,285 per kg on the 20th.
- Steady demand from industrial units and coin makers led to silver being priced at Rs.40,060 per kg for the rest of the week.
October 2017 - Week 4 & Week 5 (23rd-31st):
- A firm US economy coupled with other poor international trends led to silver rate in Ahmedabad dropping significantly during the week.
- The week opened with the white metal trading at Rs.40,040 per kg on the 23rd, which rose to Rs.40,060 per kg on account of an increased buying from industrial units and coin manufacturers the next day.
- The 25th, however, witnessed silver price in Ahmedabad plunging to Rs.39,780 per kg due to a decline in global demand for the metal.
- The next couple of days saw rated declining further to Rs.39,435 per kg after local demand dipped in the wake of the strengthening US economy.
- Poor domestic demand coupled with weak trends overseas led to rates plunging to Rs.39,115 per kg on the 28th and the 29th.
- Thanks to an increase in demand from industrial units and coin makers, the month ended with the silver price in Ahmedabad rising to Rs.39,435 per kg on the 31st.
Trend of Silver Rate in Ahmedabad for September 2017 (rates per kg)
|Parameters||Silver price (per 1 kg)|
|Silver rate on 1st September||Rs.40,390 per kg|
|Silver rate on 30th September||Rs.39,530 per kg|
|Highest Rate in September||Rs.40,900 per kg on 9 and 10 September|
|Lowest Rate in September||Rs.39,530 per kg on 28 to 30 September|
|Overall Monthly Performance||Decline|
September 2017 - Week 1 (1st - 10th)
- The first extended week of September was the best period for silver trading this month with prices rising routinely over the 10-day period.
- On the 1st of September, silver was priced at Rs.40,390 per kg. This continued till the 3rd as there was sustained demand from local investors.
- The 4th saw prices rise in Ahmedabad to Rs.41,075 per kg as demand surged amidst a weak performance from the US dollar.
- Silver rates in Ahmedabad ascended further to Rs.41,495 per kg on the 6th and rose again to Rs.41,675 per kg on the 8th day of the week.
- The 9th and the 10th were the apex period for silver sales this month as the metal’s rates reached a monthly high figure of Rs.41,900 per kg.
September 2017 - Week 2 (11th - 17th)
- When the second week of September began, silver rates had fallen to Rs.41,075 per kg as the US dollar’s resurgence put local demand on the backburner.
- The 12th saw silver prices in Ahmedabad drop to Rs.41,030 per kg as the greenback affected local sales considerably.
- Silver prices in Ahmedabad fell again on the 14th to reach Rs.40,890 per kg trading cues gave no signs of improving.
- However, there was a steady demand for the metal from the 15th to the end of the week - and silver rates remained at Rs.40,890 per kg.
September 2017 - Week 3 (18th - 24th)
- The third week saw silver open trading at Rs.40,440 per kg before dropping to Rs.39,670 per kg on the 19th as trade volume figures slipped.
- There was a brief increase in sales on the 20th, which saw the metal trade at Rs.40,040 per kg.
- The next day, however, saw rates in Ahmedabad fall back to Rs.39,670 per kg due to a slump in demand from overseas units.
- Prices picked up on the 22nd for the metal to trade at Rs.40,040 per kg, and as demand was stable, rates remained the same till the end of the week.
September 2017 - Week 4 (25th - 30th)
- The final week saw silver prices in Ahmedabad rise for a brief period as jewellers and coin makers increased their purchases to meet the upcoming festive season demand.
- On the 25th of September, silver was trading at Rs.39,670 per kg. This figure went up to Rs.40,520 per kg on the 26th as there was a sudden spike in trade volumes.
- However, silver rates in Ahmedabad went down to Rs.39,780 per kg on the 27th as demand dropped down after the previous day’s relatively bus session.
- The white metal’s rates dropped down to Rs.39,530 per kg - the month’s lowest rates as amount of purchases came to a near-screeching halt.
- A poor demand in both local and international markets saw silver rates decline by 2.12% for this month.
Trend of Silver Rate in Ahmedabad for August 2017 (rates per kg)
|Parameters||Silver price (per 1 kg)|
|Silver Rate on 1st August||Rs.38,925 per kg|
|Silver Rate on 31st August||Rs.40,040 per kg|
|Highest Rate in August||Rs.40,190 per kg on 29 & 30 August|
|Lowest Rate in August||Rs.37,235 per kg on 5 & 6 August|
|Overall Monthly Performance||Incline|
August ‘17- Week 1 (1st to 6th)
- Ahmedabad’s silver prices fell in the first week of August due to a drop in industrial demand from overseas, though the metal opened strongly at Rs.38,925 per kg on 1 August.
- Silver price in Ahmedabad fell to Rs.37,965 per kg on 3 August as a robust European market reduced its consumption of silver as a safe-haven asset.
- Volatility in the market led to silver price in Ahmedabad rising to Rs.38,120 per kg on 4 August as a momentary slump in the dollar rate spurred higher interest from overseas industry.
- Prices fell as the week progressed, with silver trading at Rs.37,235 per kg on 5 & 6 August after local demand also dropped.
August ‘17- Week 2 (7th to 13th)
- The second week saw silver priced at Rs.37,295 per kg on 7 August as there was a marginal rise in the price due to flat demand over the weekend.
- A recovery by the U.S. dollar also impeded any gains silver made, as local demand continued to be poor.
- Demand from coin makers was sporadic, as silver rose to Rs.38,345 per kg on 8 August before prices rose to Rs.38,925 per kg on 10 August.
- Renewed threats of aggression by North Korea and uncertainty in the Korean peninsula led to markets plummeting.
- Silver demand rose as industrial as well as retail demand soared, resulting in the metal trading at Rs.39,530 per kg on 11 August.
- Silver rate in Ahmedabad continued to rise as the week ended on 13 August, with silver priced at Rs.39,670 per kg.
August ‘17- Week 3 (14th to 20th)
- Silver price in Ahmedabad rose and remained constant as demand from local industrial units began to pick up.
- Silver traded at Rs.39,670 per kg on 14 August as overseas demand kept prices stable.
- A minor dip in price due to demand fluctuations resulted in silver falling to Rs.38,815 per kg on 16 August but a drop in the dollar rate raised silver price in Ahmedabad for the remainder of the week.
- Ongoing political crises and the threat of impending attack by North Korea led to U.S. markets falling and investors looking to silver for stability.
- Silver rose to Rss.39,530 per kg on 17 August but dipped to Rs.39,115 per kg on 18 August.
- Silver rate in Ahmedabad remained steady for the rest of the week as demand from local coin makers kept prices from fluctuating.
August ‘17- Week 4 (21st to 27th)
- The fourth week began with silver continuing to trade at Rs.39,115 per kg on 21 August before an increase in demand saw prices rise to Rs.39,265 per kg on 22 August.
- Demand was consistent which led to a minor rise in price as silver traded at Rs.39,355 per kg on 24 August.
- As industrial demand from Asia slowed, silver dropped to Rs.38,995 per kg on 25 August.
- Local demand helped prop prices and prevented them from sliding further as global prices fell heavily due to a drastic cut in Asian demand, as silver ended the week at Rs.38,995 per kg on 27 August.
August ‘17- Week 5 (28th to 31st)
- Prices rose marginally with silver trading at Rs.39,435 per kg on 28 August after demand rose over the weekend.
- Demand for silver surged as the threat of twin hurricanes and the economic impact led to markets being shaky.
- Silver price in Ahmedabad rose to Rs.40,190 per kg on 29 August amidst rising demand from local industrial units as well as local coin makers.
- There was no change in the price of silver as the month ended, with silver recording a 2.86% increase in price due to late rallies in demand.
|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|
July ‘17- Week 1 (1 to 9)
- Silver opened the week at Rs.38,640 per kg on 1 July as demand was steady, resulting in minimum fluctuation in prices.
- Prices rose as the U.S. dollar was on the decline following new reports of Russian collusion in the U.S. presidential election, resulting in silver trading at Rs.38,690 per kg on 3 July.
- Demand for silver dropped marginally as industrial demand from Asia was muted, with the white metal trading at Rs.37,600 per kg on 6 July.
- Local demand also fell as markets bounced back, as silver price in Ahmedabad fell to Rs.37,115 per kg from 7-9 July.
July ‘17- Week 2 (10 to 16)
- Demand for silver continued to drop as the second week began, with the metal trading at Rs.36,035 per kg on 10 July as the U.S. dollar rate was stable after a period of inconsistency.
- Silver prices rose marginally as demand from local industrial units increased, with the price rising to Rs.36,920 per kg on 12 & 13 July.
- The ongoing tensions in the Korean peninsula led to shaky Asian markets, which led to higher demand for silver as the metal rose to Rs.37,180 per kg on 15 July.
- Prices remained steady as the week ended, trading at Rs.37,180 per kg on 16 July after a period of volatility marked by fluctuating demand from Asia.
July ‘17- Week 3 (17 to 23)
- Prices were on the ascent in the third week as the dollar rate fell against global currencies and U.S. markets were also unsteady, prompting higher demand for bullion.
- Silver traded at Rs.37,180 per kg on 17 July before rising to Rs.37,600 per kg on 18 July following a surge in domestic demand.
- The fluctuating U.S. dollar rate led to higher demand from overseas markets as silver prices rose to Rs.37,705 per kg on 19 July.
- Silver price in Ahmedabad rose to Rs.38,005 per kg on 22 July thanks to a late rally on the commodity exchanges due to the tumbling U.S. markets and uncertainty over the U.S. health care program.
- Prices remained steady as the week ended on 23 July as local demand kept demand consistent.
July ‘17- Week 4 (24 to 31)
- Demand vacillated in the last week of July due to contrasting trends from overseas and the U.S. markets.
- Silver opened the week at Rs.38,120 per kg on 24 July before rising to Rs.38,230 per kg on 25 July as demand was on the upswing due to favourable market conditions.
- The white metal rose to Rs.38,690 per kg on 27 July as there was a sharp rise in demand from China and other Asian markets due to a sharp fall in the dollar rate, which prompted greater demand for bullion.
- Demand stabilised as the week wore on, trading at Rs.38,460 per kg on 29 & 30 July.
- Silver rate in Ahmedabad rose marginally as the month ended, trading at Rs.38,640 per kg on 31 July following an increase in demand from coin makers.
- Silver prices in Ahmedabad were unchanged as demand stabilised after a period of volatility during the month.
|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|
June ‘17- Week 1 (1st to 4th)
- Silver price in Ahmedabad rose in the first week of June due to increased demand from industrial units seeking to capitalise on the low U.S. dollar rate.
- The industrial metal traded at Rs.40,285 per kg on 1 June as local demand was also high in spite of reservations over the impending introduction of GST.
- Silver rate in Ahmedabad dipped to Rs.39,950 per kg on 2 June due to a slight decline in demand from Asian industrial units who were waiting for U.S. jobs data before placing orders.
- Demand rose as the U.S. markets fell after the renewing of hostilities between the United States and North Korea, as silver traded at Rs.40,670 per kg on 3 & 4 June.
June ‘17- Week 2 (5th to 11th)
- Prices remained constant for a few days, with silver trading at Rs.40,670 per kg on 5 & 6 June as demand was stable.
- Market fluctuations led to an increase in demand for the white metal among retail consumers, which led to prices rising to Rs.40,890 per kg on 7 June.
- Constant shifts in demand led to a drop in demand from local industrial units and coin makers, resulting in silver trading at Rs.40,725 per kg on 8 June before prices plunged to Rs.40,285 per kg on 9 June.
- Positive U.S. jobs data led to U.S. markets rising and a reduction in demand from overseas consumers, as silver fell to Rs.40,060 per kg on 10 & 11 June.
June ‘17- Week 3 (12 to 18)
- Demand continued to drop in the third week as geopolitical factors such as the possibility of a repeal of Obamacare, the affordable health care system as well as a renewal of rhetoric on the wall with Mexico took centrestage in the U.S.
- Silver traded at Rs.39,435 per kg on 13 June as markets continued to be buoyed by investor confidence and brisk trading in the dollar on the exchange markets.
- Prices fluctuated slightly towards the middle of the week with the white metal priced at Rs.38,995 per kg on 16 June.
- Demand continued to drop as local industry reached saturation and reduced demand for silver resulting in prices dropping to Rs.38,460 per kg on 17 & 18 June.
June ‘17- Week 4 (19th to 25th)
- Silver price in Ahmedabad did not see much change as the week began as local demand stagnated, resulting in the metal trading at Rs.38,640 per kg on 19 & 20 June.
- A drop in demand from European markets led to silver falling to Rs.38,455 per kg on 21 June.
- Marginal increases were recorded as the week progressed, with market volatility also contributing to a rise in demand for silver.
- Prices rose to Rs.38,690 per kg on 23 June as international demand rose slightly following the dollar’s slump against other global currencies.
- The week ended with silver trading at Rs.38,925 per kg on 25 June.
June ‘17- Week 5 (26th to 30th)
- The last week of June began with no change in the price of silver which continued to trade at Rs.38,925 per kg on 26 June.
- Silver price in Ahmedabad dipped marginally to Rs.38,455 per kg on 27 June due to demand vagaries before prices rose to Rs.39,115 per kg on 28 June.
- The impending implementation of GST led to an increase in demand for silver which kept prices stable at Rs.39,115 per kg on 29 June.
- Markets rose on the last day of the month which led to silver prices falling to Rs.38,995 per kg on 30 June as the value of silver dropped by 3.20%.
|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.
|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.
|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.
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|