Silver Rate in Andhra pradesh

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Silver Rate in Andhra Pradesh

Silver is the second most traded precious metal in the world, finding use in multiple industries and trades. Being a natural resource, the demand for silver has never faded away, with it forming the core of our past. Andhra Pradesh is one of the few states in India which produce silver, making it an extremely important entity for silver trade. Excellent ports have ensured that imported silver can reach Indian shores through the state. With development on the cards in Andhra Pradesh, a large portion of the population has resources to invest in silver, with silver rates not being a deterrent for them. In spite of being a silver producer, silver prices in Andhra Pradesh are related to international prices, depending on multiple factors.

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

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

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

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

August 2018 - Week 1 (1 - 05):

• At the start of August 2018, silver commenced to trade at Rs.41,400 per kg. This was recorded to be the highest price point of the metal in Andhra Pradesh for the month.
• On the second day of the month, demand amongst local industries and jewellers declined causing the price of silver to drop as well. The metal was trading at Rs.41,100 per kg, a Rs.300 decline from the start of the month.
• The price of the metal remained unaltered for a day but increased by Rs.200 per kg on August 4. On this day, silver in Andhra Pradesh was priced at Rs.41,300. This hike in silver price may have been linked to the high demand for the metal from local industries.
• At the end of week 1, silver in the state was recorded at Rs.41,300 per kg, unaffected by the increased demand for the metal from the previous day.

August 2018 - Week 2 (6 - 12):

• At the start of week 2, the state experienced a drop in the demand for metal. This naturally caused the silver price in Andhra Pradesh to decline. The metal was trading at Rs.41,300 per kg.
• The US dollar increased in value in comparison to other currencies after their economy showed positive trends. This depleted the value of silver, and on 7 August, it was priced at Rs.41,200 per kg.
• Two days later, silver experienced a hike in its value, and was recorded to be at its highest price point for the month of August 2018. On this day, the metal was trading at Rs.41,400 per kg, which can be linked to the decline in the dollar value.
• This upswing in price did not last long as the metal dipped in value after domestic demand in the state plummeted as well. On 10 August, the metal was trading at Rs.41,100 per kg. Throughout the entire month, the price of silver in Andhra Pradesh was determined by the varying demand that the state experienced.
• On the last day of week 2, silver enjoyed a rise in value as it stood at Rs.41,200 per kg.

August 2018 - Week 3 (13 - 19):

• Silver commenced trading at Rs.41,200 per kg at the start of the week. This was the same price as recorded at the end of week 2.
• Silver then witnessed a drop in its value after demand in the state for the metal declined. The price on 14 August was recorded at Rs.40,900.
• US released their employment data during week 3, which had a positive effect on the economy and the dollar value, and a negative impact on the price of silver.
• In spite of the dollar gaining value, silver price rose as well. The price of silver as on 15 August, increased to Rs.41,100 per kg, but dropped to Rs.39,900 per kg the next day.
• During the end of week 3, silver price in the state shot up by Rs.100 per kg, and during 17 - 19 August, it was trading at Rs.40,000 per kg.

August 2018 - Week 4 (20 - 26):

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

August 2018 - Week 5 (27 - 31):

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

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

July 2018- Week 1 (1-10)

• Silver traded at Rs.42,800 per kg on 1 July 2018.
• On 3 July 2018, a marginal drop in silver prices was noted as the metal traded at Rs.42,400 per kg. The drop in silver prices on this day was mainly due to the drop in demand for the metal in industrial units.
• However, during the week, silver prices managed to increase as the demand from industrial units and coin makers picked up and hit Rs.42,800 per kg.
• The highest silver price for the month of July in Andhra Pradesh was recorded on 9-10 July, when the metal traded at Rs.42,900 per kg.
• The increase in silver rates during the last two days of the week can be contributed to positive market trends and the declining US dollar rates over all other currencies.

July 2018- Week 2 (11-17)

• Silver prices stood at Rs.42,600 per kg at the beginning of week 2 in Andhra Pradesh.
• The drop in demand for the white metal led to the fall in silver prices. Compared to week 1, silver rates fell continuously during the second week of July.
• As the industrial demand for silver dipped further, it decreased the silver price in the city. The price of silver from 12 - 14 July stood at roughly Rs.42,200 per kg.
• On 16 July 2018, silver prices slightly increased and traded at Rs.42,300 per kg. Though it was a small difference in silver rates, the increase was majorly due to the increase in demand as other external factors remained almost neutral.
• Though there was a decline in the US dollar value during the last few days of the week, it did not affect silver rates much.
• Silver stood at Rs.42,100 per kg on 17 July.

July 2018- Week 3 (18 - 24)

• As of 18 July, silver was priced at Rs.41,700 per kg.
• On the first day of the week, silver rates dropped by Rs.400 per kg compared to the previous day when the white metal traded at Rs.42,100 per kg.
• Demand for silver played a huge role throughout the month and determined the silver rates in Andhra Pradesh. When demand from local jewellers, merchants, coin makers, and industrial units dipped, the prices declined. When the demand picked up, the prices increased too.
• The price of silver further dipped to Rs.41,300 per kg on 20 July mainly because the value of the US dollar increased.
• Silver rates between 21 - 22 July stood at Rs.41,700 per kg. Though the prices slightly picked up on 21 and 22, the rates quickly fell to Rs.41,400 per kg on 24 July.

July 2018- Week 4 (25 - 31)

• An increase of Rs.100 per kg was recorded on 25 July 2018. Silver opened at Rs.41,500 per kg.
• On 26 July, the rate of silver increased by Rs.300 per kg and traded at Rs.41,800 per kg as demand for the metal picked up.
• The price of silver stood at Rs.41,200 per kg as on 28 - 29 July. This was also the lowest silver price recorded for the month.
• By the end of the month, the price of silver increased as US dollar rates dropped slightly. The metal stood at Rs.41,400 per kg on 30 - 31 July.
• Overall, silver prices fell by 3.27% in the month of July in Andhra Pradesh.

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

June 2018 - Week 1 (1 - 10):

• Silver was priced at Rs.42,800 in Andhra Pradesh when trading commenced for the first week of June.
• Strong US jobs data caused the US dollar to surged against other emerging currencies, this led to a drop in demand for precious metals. As a result, silver traded at Rs.42,600 per kg on the 2nd.
• Silver traded at Rs.42,600 per kg over the next three days due to steady demand, before rising slightly to Rs.42,900 per kg on the 6th.
• There was a tiny drop in prices on the 7th and the metal traded at Rs.42,800 per kg before rising to Rs.43,600 per kg on the 8th ahead of the G7 Summit and US President Donald Trump’s twitter outburst.
• As markets fell after the controversial tweets, demand for metals surged, this caused silver in Andhra Pradesh to trade at Rs.43,700 per kg on the 9th.
• The week drew to a close with silver prices still holding at Rs.43,700 per kg.

June 2018 - Week 2 (11 - 17):

• This week began with silver trading at Rs.43,900 per kg - up by Rs.200 from the previous day’s rates.
• Despite a strong dollar and a growing equity market, demand was steady, which led silver to trade at Rs.44,000 per kg on the 12th of June.
• The summit between the US and North Korea went ahead as planned in Singapore, which caused demand to drop and silver prices went down to Rs.43,900 because of this.
• However, the looming concerns over a trade war between the US and China gripped the market and everything fell. This caused silver rates to surge to Rs.45,000 per kg on the 15th.
• Prices dropped as the week drew to a close as the high demand seen over the previous few days was unsustainable. When the week ended on the 17th, the metal was seen trading at Rs.44,300 per kg.

June 2018 - Week 3 (18 - 24):

• The US dollar, which fell significantly the previous week, showed signs of recovery during this week’s trading.
• Silver prices in Andhra Pradesh went down to Rs.43,400 per kg to record a massive Rs.900 drop in just a day’s session.
• As demand went up slightly, silver rates rose to Rs.43,500 per kg on the 19th before going down to Rs.43,100 per kg on the 20th.
• The 21st saw silver rates drop again - to Rs.43,000 per kg - as demand continued to fall after the dollar recovered quickly.
• From the 22nd to the 24th, silver continued to trade at Rs.42,900 per kg as there was sustained demand for the metal.

June 2018 - Week 4 (25 - 30):

• The final week of June saw little changes being recorded with regards to silver prices. When the week began on the 25th, the metal was priced at Rs.43,200 per kg - a Rs.300 increase from the previous day’s rates.
• Rates held steady on the 27th before dropping further to Rs.43,000 per kg as demand seemed to weaken as the US dollar continued on its upward trajectory.
• On the 29th, the precious metal’s rates went down to Rs.42,800 per kg - a Rs.200 per kg decline from the previous session.
• When the week and month came to an end, silver was seen trading at Rs.42,800 per kg.
• There were considerable fluctuations recorded during the month’s trading, however, the rates ended where they started - at Rs.42,800 per kg - and no change in price trends were recorded.

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

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

• Silver trading was on the positive side this month, thanks to a rising demand seen towards the end of the month.
• On the 1st of May, when trading started for this month, the white metal was priced at Rs.42,000 per kg.
• With concerns rising ahead of the US-China trade war and the possible effect it could have, safe haven demand surged. This caused silver demand to rise locally as well and the metal traded at Rs.42,600 per kg on the 3rd.
• The week drew to a close with the metal trading at Rs.42,600 per kg.

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

• Silver rates in Andhra Pradesh had risen to Rs.43,200 per kg when the second week’s trading began on the 7th of May.
• After news about a rising dollar arrived, demand for the white metal dropped, and the metal traded at Rs.43,000 per kg.
• A slight improvement in local demand pushed silver rates up to Rs.43,100 per kg on the 9th before rising to Rs.43,300 per kg on the 10th.
• As demand continued to rise amidst strong demand from industries and coin makers, and the weakening of the dollar, rates went up to RS.43,500 per kg on the 11th.

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

• The third week’s trading began with a slight improvement in silver rates. On the 14th, when this week began, the white metal was priced at Rs.43,600 per kg.
• As markets strengthened and the US dollar gained, silver rates dropped to Rs.43,300 per kg on the 15th before dropping further to Rs.43,000 per kg the subsequent day.
• A brief surge in demand caused silver rates to go up to Rs.43,200 per kg on the 16th before slumping back down to Rs.43,000 per kg on the 17th.
• Demand was uneven for the remaining few days as well with prices rising and dropping on a regular basis.
• On the 18th, the metal was seen trading at Rs.43,200 per kg as domestic demand surged but fell back to Rs.43,000 per kg on the 19th.
• When the week ended, the white metal was seen trading at Rs.43,100 per kg.

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

• The penultimate week of May began with little change in prices. The metal was still seen trading at Rs.43,100 per kg as demand remained steady.
• Markets fell after news that the Federal Reserve would keep the interest rates unchanged. This caused silver demand to rise.
• On the 22nd, the metal traded at Rs.43,200 per kg before trading a further improved rate of Rs.43,500 per kg on the 23rd.
• There was a brief decline in prices as demand softened and the metal traded at Rs.43,300 per kg on the 24th.
• Rates seen on the 25th were the highest for the month too. After demand consolidated, prices fell to Rs.43,600 per kg on the 26th.

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

• The last four day of May saw silver rate in Andhra Pradesh drop because of a resurgent dollar and a even slowed down local demand.
• The week began with silver trading at Rs.43,000 per kg on 28th before rising marginally to Rs.43,100 per kg the next day.
• On the 30th, prices dropped to Rs.42,900 per kg as the metal couldn’t hold against the barrage of the dollar.
• A rise in local demand caused rates to go up to Rs.43,100 per kg on the final day of the month.
• Strong cues paired with a steady local demand helped silver rates incline by 2.61% this month.

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

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

• When trading opened in Andhra Pradesh, silver rates were recorded holding at Rs.41,400 per kg on the 1st with steady domestic demand amid favourable market cues.
• An increase in industrial offtake for the metal over the next couple of days led to silver being priced at Rs.41,600 per kg on the 3rd.
• Despite the poorly performing US dollar, local demand plunged during the week. This led to silver rate in Andhra Pradesh plummeting to their lowest recorded monthly figure of Rs.41,000 per kg on the 5th.
• With market participants mulled over by the possibility of a trade war between the US and China, demand surged at the international level.
• The week came to an end with the industrial metal priced at Rs.41,200 per kg on the 7th amid positive overseas trends.

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

• The second week began with silver rate in Andhra Pradesh holding firm at Rs.41,200 per kg on the 8th with subdued but steady demand from local industries and coin makers.
• The US dollar index lost against a basket of other apex currencies, weakening the greenback. This led to an increase in global demand for the metal.
• The US dollar and equity markets tumbled as the news about the US-led airstrike on Syrian civilians broke out. This led to silver price in Andhra Pradesh rising to Rs.42,000 per kg on the 12th.
• However, rates dropped to Rs.41,600 per kg the next day with local demand remaining unaffected by the positive global cues.
• When trading concluded for the week, the white metal was recorded trading at Rs.41,900 per kg on the 15th following an increase in industrial orders for the metal.

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

• Safe-haven demand for silver surged during the week with markets panicking over the US-led retaliatory attacks on Syria, weakening the US dollar.
• The week began with silver price in Andhra Pradesh holding at Rs.42,100 per kg on the 16th with demand picking up amid the strong trend overseas.
• Positive global market cues coupled with an increased domestic demand led to silver prices surging during the week.
• Thanks to an increase in demand from local industries and coin makers, rates rose to Rs.43,700 per kg on the 19th amid the firm overseas trends.
• The 20th recorded silver rate in Andhra Pradesh touching their highest monthly figure of Rs.43,800 per kg as investors capitalised on the weakened US dollar and banked on silver futures.
• The week ended with rates holding steady at Rs.43,800 per kg on the 22nd with consistent demand from local coin manufacturers and industries amid favourable market cues.

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

• The last week saw silver price in Andhra Pradesh greatly influenced by the recovering US dollar index and rising equity markets, pushing demand for the greenback-dependant assets lower.
• When trading opened for the week, the white metal was recorded trading at Rs.43,700 per kg on the 23rd.
• With markets speculating on the US Federal Reserve monetary policy meeting, the US dollar index rose against a basket of other emerging currencies. This led to silver being expensive for investors with foreign currencies.
• With the trade war fears easing down, demand from the Asian continent declined and silver was recorded trading at Rs.43,000 per kg on the 26th.
• The next day saw rates plummeting further to Rs.42,800 per kg with global demand suppressed by the strengthened US dollar and stock markets.
• Trading concluded for the month with the silver rate in Andhra Pradesh holding at Rs.42,300 per kg on the 30th, registering an incline of 2.17% in silver trade during the course of the month.

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

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

• When silver sales began in Andhra Pradesh for March 2018, silver was priced at Rs.41,100 per kg.
• Rates went up to Rs.41,400 per kg on the 2nd as demand went up owing to a rise in demand from coin makers, jewellers and industrial units.
• On the 3rd, silver rate in Andhra Pradesh went up to Rs.41,600 per kg, thank to a steady rise in purchases.
• As demand was stable, silver continued to trade at Rs.41,600 per kg on the final day of this week.

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

• Silver was trading at Rs.41,700 per kg when the second week of March began after the US dollar rose and demand dropped.
• This surged to Rs.41,900 per kg on the 7th - the month’s highest rates as local demand remained bullish ahead of strong purchases from investors.
• Silver price in Andhra Pradesh dropped over the next few days of the week, and the metal traded at a much depleted Rs.41,600 per kg on the 11th.

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

• The white metal was priced at Rs.41,600 per kg on the 12th but dropped to Rs.41,400 per kg on the 13th due to weak demand.
• On the 14th, however, Silver rate in Andhra Pradesh went up to Rs.41,700 per kg after cues improved owing to the latest situation caused by the US President Donald Trump.
• Rates tapered off over the remaining few days of the week and the metal traded at Rs.41,300 per kg on the 16th and a Rs.41,100 per kg on the 18th.

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

• Silver rate in Andhra Pradesh were holding at Rs.41,000 per kg - a Rs.100 drop from the previous day’s trading rates.
• This went up to Rs.41,200 per kg on the 20th before falling to Rs.41,100 per kg on the 21st. Rates, though, rose on the 22nd to Rs.41,500 per kg on the 23rd as well as sales rebounded.
• On the 24th, silver price in Andhra Pradesh went up to Rs.41,600 per kg as markets capitalised on a slightly uncertainty over the latest Fed meeting.
• On the final day of the week, silver was still trading at Rs.41,600 per kg.

March 2018 - Week 5 (26th - 31st):

• When the final week’s trading started, silver was priced at Rs.41,600 per kg. This rose to Rs.41,800 per kg on the 27th as a number of issues including the trade war axis between the US and China helped push demand up.
• As demand dropped ahead of weak cues, silver rate in Andhra Pradesh went down to Rs.41,500 per kg and fell further as the week progressed.
• When the week and month ended, silver was priced at Rs.41,400 per kg.
• Overall, a 0.72% change in price trends were recorded this month, which could have been higher if not for the fall over the final week.

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

Silver is generally purchased in bulk quantities, with 100g, 500g and 1kg options being popular in Andhra Pradesh. Individuals who wish to purchase a 1kg bar of silver in the state would have to shell out Rs 35,534 (as of December 17, 2015). The current prices are a result of a drop over the last week, which saw prices fall by almost Rs 1,300 per kg. Silver prices over the year have been anything but steady, with the price reaching highs of Rs 43,566 per kg in May and lows of Rs 35,266 in March. December too has witnessed a huge drop in rates, primarily due to international factors. The price of 1 kg silver remained under the Rs 40,000 mark for most of the year, enabling people to purchase it without financially taxing themselves.

Silver as an investment

Silver, unlike traditional investment modes is considered a safe investment option, primarily due to its demand across the globe. The importance of silver in festivals and celebrations has made it a culturally significant metal, finding a place in our homes and banks. The low cost of silver compared to gold provides an investment opportunity to new investors and those with moderate resources, helping them build a decent investment portfolio. Two of the most popular modes of silver investment in Andhra Pradesh are silver contracts and physical silver, each having unique benefits.

Physical Silver – Physical silver accounts for most of the silver consumed in Andhra Pradesh, with silver coins, bars and jewellery being the preferred choice for millions in the state. No wedding and celebration are complete without silver, with people considering it auspicious. Sale of silver peaks during festivals like Diwali, with great prices on offer. Silver coins can be purchased from both banks and jewellers, with the ones purchased from banks generally costing more on account of purity checks and quality. Jewellers across the state cater to different budgetary requirements, offering products ranging from chains, rings, amulets, etc.

Silver contracts and futures – Indian markets have grown over the years, helping people make money through smart investment choices. Silver can be purchased through these markets, with it being traded on the Multi Commodity Exchange, National Commodity and Derivatives Exchange, etc. These options can help one make quick profits but are also riskier than traditional investment modes, and one should exercise caution while investing.

Also Check Silver Price in NearBy Cities of Andhra Pradesh

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• How To Buy Silver Bullions?
• Silver Jewelry
• Global Demand And Silver Rates In India
• What Are Silver Futures?