Silver Rate in Bangalore Today

  • Today's Silver Rate in Bangalore( 19 Oct 2021 )

    ₹ 67.8
    Today's Silver Rate per gram

    Compare Silver Rate In Bangalore (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Silver (1 gram) ₹ 67.8 ₹ 67.5 ₹ 0.3 ↑
    Bar Silver (1 Kg) ₹ 67,800 ₹ 67,500 ₹ 300 ↑

    Silver Price In Bangalore For Last 10 Days

    Date Silver (1 gram) Bar Silver (1 Kg)
    19 Oct 2021 ₹ 67.8 ₹ 67,800
    18 Oct 2021 ₹ 67.5 ₹ 67,500
    17 Oct 2021 ₹ 67.4 ₹ 67,400
    16 Oct 2021 ₹ 67.4 ₹ 67,400
    15 Oct 2021 ₹ 67.7 ₹ 67,700
    14 Oct 2021 ₹ 66.6 ₹ 66,600
    13 Oct 2021 ₹ 65.8 ₹ 65,800
    12 Oct 2021 ₹ 65.8 ₹ 65,800
    11 Oct 2021 ₹ 65.8 ₹ 65,800
    10 Oct 2021 ₹ 65.9 ₹ 65,900

    Weekly & Monthly Graph of Silver Rate in Bangalore

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    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Silver Price in Bangalore

    Bangalore is the second largest market for precious metals in Southern India, closely behind Chennai. This metropolitan city has a vast middle class population mainly driven by the famous IT sector in the city. Silver has become popular with the residents of Bangalore mainly as a form of investment. Silver generally offers good resale value and returns, which beats inflation and provides a secure and stable commodity to customers to bank on. Silver rate in Bangalore are driven by international prices of the commodity.

    Gold is quite expensive when compared to silver, and so silver has an added advantage in the market for lower income groups in the city. The metal is sold by bullion dealers, jewelry stores, artefacts shops, silverware sellers and a variety of other outlets in the city. Silver is also available for residents in Bangalore through the national commodity exchanges MCX and NCDEX.

    Today's Gold Rate in Bangalore

    Historical Trend of Silver Price in Bangalore

    Months Lowest Silver Price Per Kg Highest Silver Price Per Kg
    September 2021 63,000 69,600
    August 2021 65,000 73,100
    July 2021 68,400 75,000
    June 2021 67,600 73,400
    May 2021 67,500 74,600
    April 2021 63,400 74,000
    March 2021 65,400 71,500
    February 2021 67,900 75,700
    January 2021 63,900 72,000
    December 2020 58,600 72,300
    November 2020 59,800 66,700
    October 2020 60,210 63,500
    September 2020 58,500 76,500
    August 2020 65,010 76,520
    July 2020 48,510 66,060
    June 2020 47,110 50,160
    May 2020 41,010 51,400
    April 2020 40,360 42,710
    March 2020 37,800 50,700
    February 2020 47,400 52,900
    January 2020 49,200 52,600

    Trend of Silver Rate in Bangalore for September 2021 (rates per kg)

    Parameters Silver Price (per kg)
    September 1 Rate Rs.68,700 per kg
    September 30 Rate Rs.63,000 per kg
    Highest Rate in September Rs.69,600 per kg from 4 to 7 September
    Lowest Rate in September Rs.63,000 per kg on 30 September
    Overall Monthly Performance Decline
    Percentage Change -8.29%
    • In Bangalore, a kilo of silver was priced Rs.68,700 per kg at the start of the month. Compared to the closing price of the previous month, the rate of precious metal was up by Rs.300 in the city.
    • Over the month, silver recorded the highest and lowest price for the month on 4th and 30th September. On the mentioned dates, a kilo of the white metal cost Rs.69,600 and Rs.63,000 respectively.
    • Silver price in Bangalore closed the month at Rs.63,000 per kg. The overall performance of the white metal in the city witnessed a declining trend.

    Trend of Silver Rate in Bangalore for August 2021 (rates per kg)

    Parameters Silver Price (per kg)
    August 1 Rate Rs.73,000 per kg
    August 31 Rate Rs.68,400 per kg
    Highest Rate in August Rs.73,100 per kg on 4 August
    Lowest Rate in August Rs.65,000 per kg on 7 and 8 August
    Overall Monthly Performance Decline
    Percentage Change -6.30%
    • In Bangalore, silver opened the month of August at Rs.73,000 per kg. Compared to July’s closing price the rate of the precious metal didn’t see any change in the city.
    • Over the month, silver witnessed a declining trend in Bangalore. The percentage change recorded in the rates stood at -6.30%.
    • Silver price in Bangalore recorded its highest price for the month on 4th August when a kilo cost Rs.73,100. The lowest price was recorded on 7th and 8th August. On the mentioned dates, consumers were charged Rs.66,600 for a kilogram.

    Trend of Silver Rate in Bangalore for July 2021 (rates per kg)

    Parameters Silver Price (per kg)
    July 1 Rate Rs.74,100 per kg
    July 31 Rate Rs.73,000 per kg
    Highest Rate in July Rs.75,000 per kg on 5 July
    Lowest Rate in July Rs.71,400 per kg on 28 July
    Overall Monthly Performance Decline
    Percentage Change -1.48%
    • Silver price is Bangalore opened at the rate of Rs.74,100 per kg for the month of July 2021.
    • The highest rate of the precious metal was recorded on 5th July 2021 wherein it stood at the rate of Rs.75,000 per kg. The lowest rate of silver during the month was recorded on 28th July 2021 when a kilogram of the precious white metal was being traded at the rate of Rs.71,400 per kg.
    • During the month, the price of silver witnessed an overall decline in its performance the percentage change standing at –1.48%.

    Trend of Silver Rate in Bangalore for June 2021 (rates per kg)

    Parameters Silver Price (per kg)
    June 1 Rate Rs.72,600 per kg
    June 30 Rate Rs.72,900 per kg
    Highest Rate in June Rs.73,400 per kg on 23 June and from 25 - 27 June
    Lowest Rate in June Rs.67,600 per kg on 19 and 20 June
    Overall Monthly Performance Incline
    Percentage Change 0.41%
    • The price of silver in Bangalore at the start of the month was Rs.72,600 per kg. Compared to the price charged at the end of the previous month, the rate was up by Rs.600 for every kilo.
    • Over the month, the price of the white metal saw a lot of fluctuations. Silver recorded its highest and lowest price for the month on 23rd and 19th June. On the mentioned dates, a kilo of the precious metal cost Rs.73,400 and Rs.67,600 respectively.
    • Silver price in Bangalore closed the month at Rs.72,900 per kg. The overall performance of metal was one of incline with the percentage change being 0.41%.

    Trend of Silver Rate in Bangalore for May 2021 (rates per kg)

    Parameters Silver Price (per kg)
    May 1 Rate Rs.67,500 per kg
    May 31 Rate Rs.72,000 per kg
    Highest Rate in May Rs.74,000 per kg on 18 May
    Lowest Rate in May Rs.67,500 per kg on 1 May - 3 May
    Overall Monthly Performance Incline
    Percentage Change 6.66%
    • In Bangalore, the price of silver opened the month of May at Rs.67,500 per kg on 1 May and stayed at the same rate till 3 May due to a mute trend seen in the domestic and international markets.
    • Silver rate in Bangalore increased in the second and third week of the month due to a weaker dollar and was at its highest of the month on 18 May at Rs.74,000 per kg. The price of the metal also increased due to a lower bond yields of the U.S. Treasury.
    • The value of the white metal decreased in the last week of the month as investors took profits at Rs.72,000 per kg on 31 May and recorded an overall weekly incline of 6.66%.

    Trend of Silver Rate in Bangalore for April 2021 (rates per kg)

    Parameters Silver Price (per kg)
    April 1 Rate Rs.63,400 per kg
    April 30 Rate Rs.72,800 per kg
    Highest Rate in April Rs.74,000 per kg on 24 April – 26 April
    Lowest Rate in April Rs.63,400 per kg on 1 April
    Overall Monthly Performance Incline
    Percentage Change 14.82%
    • Silver rate in Bangalore opened the month of April at Rs.63,400 per kg on 1 April and showed an inclining trend due to a lower dollar value in the market and lower U.S. Treasury bond yields.
    • The price of the white metal increased through the month with minor fluctuations seen in the second week of April. Silver prices increased to its highest of the month on 24 April as it hit the Rs.74,000 per-kg mark.
    • At the end of the month, the silver rate closed at Rs.72,800 per kg on 30 April recording an overall incline of 14.82%.

    Trend of Silver Rate in Bangalore for March 2021 (rates per kg)

    Parameters Silver Price (per kg)
    March 1 Rate Rs.68,200 per kg
    March 31 Rate Rs.65,500 per kg
    Highest Rate in March Rs.68,200 per kg on 1 March
    Lowest Rate in March Rs.65,400 per kg on 28 March
    Overall Monthly Performance Decline
    Percentage Change -3.95%
    • The price of silver in Bangalore was Rs.68,200 per kg on 1 March, opening the month and showed an overall declining trend for the month due to a stronger dollar value and positive U.S. Treasury bond yields.
    • During the month, the silver rate in Bangalore declined substantially and recovered marginally towards the end of March.
    • At the end of the month, the price of the metal dipped to its lowest on 28 March at Rs.65,400 per kg and closed the month at Rs.65,500 per kg on 31 March recording an overall decline of 3.95%.

    Trend of Silver Rate in Bangalore for February 2021 (rates per kg)

    Parameters Silver Price (per kg)
    February 1 Rate Rs.78,100 per kg
    February 28 Rate Rs.67,500 per kg
    Highest Rate in February Rs.78,100 per kg on 1 February
    Lowest Rate in February Rs.67,300 per kg on 5 February
    Overall Monthly Performance Decline
    Percentage Change -13.57%
    • Silver rate in Bangalore was Rs.78,100 per kg and was at its highest on the day. The white metal’s value fluctuated throughout the month and showed a decline. The price of the metal declined to its lowest at Rs.67,300 per kg on 5 February.
    • After constant fluctuations seen in the market due to the rise in COVID-19 cases and the changes seen in the U.S. dollar value, silver prices declined.
    • At the end of the month, the silver price in Bangalore closed at Rs.67,500 per kg on 28 February recording an overall monthly decline of 13.57%.

    Trend of Silver Rate in Bangalore for January 2021 (rates per kg)

    Parameters Silver Price (per kg)
    January 1 Rate Rs.72,000 per kg
    January 31 Rate Rs.69,800 per kg
    Highest Rate in January Rs.72,000 per kg on 1 January – 3 January
    Lowest Rate in January Rs.63,900 per kg on 9 January – 11 January
    Overall Monthly Performance Decline
    Percentage Change 3.05%
    • Silver rate in Bangalore opened the year at Rs.72,000 per kg on 1 January and was at its highest on the same day holding steady until 3 January. The price of the metal showed a fluctuating trend throughout the month.
    • However, with the U.S. dollar recovering in the market, silver prices dipped to its lowest of the month at Rs.63,900 per kg on 9 January and were the same price till 11 January as investors awaited on a decision regarding monetary policy from the Biden administration in the U.S.
    • At the end of the month, silver prices fluctuated and closed the month at Rs.69,800 per kg on 31 January and showed an overall monthly percentage decline of 3.05.

    Trend of Silver Rate in Bangalore for December 2020 (rates per kg)

    Parameters Silver Price (per kg)
    December 1 Rate Rs.64,600 per kg
    December 31 Rate Rs.72,300 per kg
    Highest Rate in December Rs.74,100 per kg on 21 December
    Lowest Rate in December Rs.63,400 per kg on 10 December
    Overall Monthly Performance Incline
    Percentage Change 11.9%
    • In Bangalore, silver was priced at Rs.64,600 per kg on 1 December and showed an overall inclining trend for the month. On 10 December, the metal had hit its lowest price of the month at Rs.63,400 per kg due to vaccine optimism.
    • However, with constant fluctuations, the price of the metal increased in the last week of the month to hit its highest at Rs.74,100 per kg on 21 December.
    • Silver rate in Bangalore, at the end of December, dipped marginally to Rs.72,300 per kg on 31 December, closing the month with an incline percentage of 11.9.

    Trend of Silver Rate in Bangalore for November 2020 (rates per kg)

    Parameters Silver Price (per kg)
    November 1 Rate Rs.60,100 per kg
    November 30 Rate Rs.63,300 per kg
    Highest Rate in November Rs.70,000 per kg on 7 November
    Lowest Rate in November Rs.60,100 per kg on 1 November
    Overall Monthly Performance Incline
    Percentage Change 5.32%
    • Silver rate in Bangalore opened at Rs.60,100 per kg and was at its lowest on the first day of the month on 1 November. The metal’s prices increased through the month due to lesser risk appetite amongst investors.
    • The price of the metal increased and was at its highest on 7 November at Rs.70,000 per kg and fluctuated to a great extent through the week and declined marginally due to flat trends in the international market.
    • At the end of the month, silver rate closed at Rs.63,300 per kg on 30 November with a percentage incline of 5.32.

    Trend of Silver Rate in Bangalore for October 2020 (rates per kg)

    Parameters Silver Price (per kg)
    October 1 Rate Rs.60,700 per kg
    October 31 Rate Rs.61,000 per kg
    Highest Rate in October Rs.63,500 per kg on 21 October
    Lowest Rate in October Rs.60,210 per kg on 8 October
    Overall Monthly Performance Incline
    Percentage Change 0.49%
    • In Bangalore, silver rate in October opened at Rs.60,700 per kg on 1 October and showed an overall incline in prices for the month as the uncertainties around the U.S. election dipped risk appetite.
    • On 8 October, the metal hit its lowest at Rs.60,210 per kg and was at its highest on 21 October at Rs.63,500 per kg as the value of the U.S. dollar fluctuated.
    • On the last day of the month, silver prices increased marginally and closed at Rs.61,000 per kg recording an overall percentage incline of 0.49.

    Trend of Silver Rate in Bangalore for September 2020 (rates per kg)

    Parameters Silver Price (per kg)
    September 1 Rate Rs.76,500 per kg
    September 30 Rate Rs.62,500 per kg
    Highest Rate in September Rs.76,500 per kg on 1 September
    Lowest Rate in September Rs.58,500 per kg on 24 September
    Overall Monthly Performance Decline
    Percentage Change -18.30%
    • Opening the month of September at Rs.76,500 per kg, silver rate in Bangalore was at its highest on 1 September 2020. However, the metal showed a declining trend throughout the rest of the month.
    • With the rise in the dollar value in the international market, silver prices continued to decline throughout the rest of the month as silver hit its lowest price of the month at Rs.58,500 per kg.
    • The metal closed the month at Rs.62,500 per kg on 30 September, recording an overall monthly percentage decline of 18.30.

    Trend of Silver Rate in Bangalore for August 2020 (rates per kg)

    Parameters Silver Price (per kg)
    August 1 Rate Rs.65,010 per kg
    August 31 Rate Rs.66,370 per kg
    Highest Rate in August Rs.76,520 per kg on 8 August
    Lowest Rate in August Rs.65,010 per kg on 1 and 13 August
    Overall Monthly Performance Incline
    Percentage Change 2.09%
    • Silver rate in Bangalore for August showed an overall monthly incline, opening at Rs.65,010 per kg which was the lowest price of the metal in the month. The silver rate was at its lowest on 13 August as well.
    • Silver price in Bangalore hit its highest on 8 August, crossing the Rs.76,000 per kg mark at Rs.76,520 per kg on a weak dollar.
    • However, the price of the metal fluctuated heavily through the rest of the month, closing at Rs.66,370 per kg with an overall incline of 2.09%.

    Trend of Silver Rate in Bangalore for July 2020 (rates per kg)

    Parameters Silver Price (per kg)
    July 1 Rate Rs.48,560 per kg
    July 31 Rate Rs.63,010 per kg
    Highest Rate in July Rs.66,060 per kg on 30 July
    Lowest Rate in July Rs.48,510 per kg on 5 July
    Overall Monthly Performance Incline
    Percentage Change 29.75%
    • Silver rate in Bangalore at the beginning of July was Rs.48,560 per kg and hit the lowest price of the month on 5 July at Rs.48,510 per kg with the value of the U.S. dollar recovering in the market.
    • The value of the metal increased throughout the month with the rise in COVID-19 cases all over the world and rise in geopolitical tensions.
    • The silver price was at Rs.66,060 per kg on 30 July, hitting the highest price of the month and closed at Rs.63,010 per kg on 31 July with a percentage incline of 29.75.

    Trend of Silver Rate in Bangalore for June 2020 (rates per kg)

    Parameters Silver Price (per kg)
    June 1 Rate Rs.50,120 per kg
    June 30 Rate Rs.48,510 per kg
    Highest Rate in June Rs.50,160 per kg on 2 June
    Lowest Rate in June Rs.47,110 per kg on 16 June
    Overall Monthly Performance Decline
    Percentage Change -3.21%
    • In the city of Bangalore, the price of silver opened at Rs.50,120 per kg on 1 June and showed a declining trend through the month, recording an overall percentage decline. The price of the white metal dipped to a great extent within the first two weeks of the month and was priced at Rs.47,720 per kg on 15 June.
    • With risk appetite increasing amongst investors and the equities markets recovering, the price of the metal dipped in the international market. Along with this, the rise in COVID-19 cases in the country hampered the demand for the metal. The metal hit its lowest price on 16 June at Rs.47,110 per kg.
    • At the end of the month, silver closed at Rs.48,510 per kg on 30 June with a percentage decline of 3.21.

    Trend of Silver Rate in Bangalore for May 2020 (rates per kg)

    Parameters Silver Price (per kg)
    May 1 Rate Rs.42,530 per kg
    May 31 Rate Rs.50,100 per kg
    Highest Rate in May Rs.51,400 per kg on 25 May
    Lowest Rate in May Rs.41,010 per kg on 2 May
    Overall Monthly Performance Incline
    Percentage Change 17.79%
    • In the month of May, silver opened the first week of the month at Rs.42,530 per kg on 1 May and showed fluctuating prices throughout the month. However, the price of the precious metal dipped on the very next day on 2 May to Rs.41,010 per kg. Silver prices recovered marginally to Rs.41,210 per kg on 3 May. The fall in prices was majorly due to high risk appetite amongst investors who shifted away from the bullion market with positive Japanese equities data being showcased. The price of the metal increased marginally on 4 May to Rs.41,220 per kg and further to Rs.41,520 per kg on 5 May. The price of the metal fluctuated for the next two days and closed the week at an increased price at Rs.42,010 per kg on 7 May.
    • Opening the second week of the month at an increased price of Rs.42,060 per kg on 8 May, the price of the metal increased substantially in the first half of the week. On 9 May, the price of the white metal increased to a great extent to Rs.43,510 per kg and increased further on 10 May at Rs.43,610 per kg. With a possible second wave of COVID-19 happening all over the world, the price of the metal increased with a higher safe-haven appeal. However, in the second half of the week, the price of the metal dipped due to increased risk appetite amongst investors increased and gold was priced at Rs.43,620 per kg and soon declining to Rs.43,090 per kg, dipping by almost Rs.600 per kg. The price of the metal fell further on 13 May to Rs.42,950 per kg with investors expecting the economy to recover faster with eases in the lockdown restrictions in countries all over the world. On 14 May, a kilogram of silver was priced at Rs.42,960 per kg, and the precious metal ended the second week of the month, crossing the Rs.43,000 per kg, at Rs.43,160 per kg on 15 May.
    • In Bangalore, the precious metal opened the third week of the month at Rs.46,900 per kg, recording an incline of more than Rs.3,500 per kg on 16 May. With tensions between Washington and China rising concerning the response of the White House to the security law being imposed on Hong Kong by China, investor risk appetite dipped as they waited. The price of the metal dipped marginally on the next day, at Rs.46,710 per kg and increasing marginally yet again to Rs.46,720 per kg on 18 May. The drop in prices was majorly due to the value of the dollar bolstering the losses of the market and keeping the incline of gold prices at bay. On 19 May, silver prices increased substantially yet again to Rs.48,510 per kg with tensions rising between the two economic superpowers. The price of the white metal fluctuated for the rest of the week, ending at Rs.48,350 per kg on 23 May.
    • In the last week of the month, silver prices showed continuous fluctuations throughout, opening at Rs.48,360 per kg on 24 May and increasing to Rs.51,400 per kg on 25 May with investors shifting back to the equities market on a stronger dollar value. However, on 26 May, the price of the metal dipped by almost the same amount it rose, to Rs.48,000 per kg with riots occurring in many states in the United States of America. Increasing by Rs.700, the price of the white metal was Rs.48,700 per kg on 27 May. Silver prices dipped by Rs.790 per kg and was priced at Rs.47,910 per kg on 28 May and held steady until 29 May. After increasing to Rs.48,560 per kg on 30 May, the metal closed the month at Rs.50,100 per kg on 31 May with an overall percentage incline of 17.79.

    Also Check Silver Price in Metro Cities

    Trend of Silver Rate in Bangalore for April 2020 (rates per kg)

    Parameters Silver Price (per kg)
    April 1 Rate Rs.40,500 per kg
    April 30 Rate Rs.41,520 per kg
    Highest Rate in April Rs.42,710 per kg on 21 April
    Lowest Rate in April Rs.40,360 per kg on 6 April
    Overall Monthly Performance Incline
    Percentage Change 2.51%
    • In Bangalore, the price of silver opened the month of April at Rs.40,500 per kg and remained steady until 5 April. Since the country was on lockdown to prevent the spread of COVID-19, major trading centres for bullion for shut for operations. Since there was no trade, the price of the metal remained steady. However, on 6 April, the price of the metal changed and dipped marginally to Rs.40,360 per kg and increased marginally to Rs.40,370 per kg on 7 April, ending the week at the same price. The dip in prices was majorly due to the value of the dollar rising in the market and the safe-haven demand for the metal dipped.
    • In the second week of the month, the price of silver showed regular fluctuations due to various global factors affecting the international price of the metal. On 8 April, the price of silver was Rs.40,960 per kg and showed a gradual rise in its price throughout the week. With the safe-haven appeal of the metal at a rise due to the rise of COVID-19 cases in the United States of America, the focus of investors shifted to the bullion market. On 10 April, silver was priced at Rs.41,000 per kg and by 14 April, it had increased to Rs.41,310 per kg. Silver prices saw a major incline in its price on 15 April at Rs.41,920 per kg. The rise in prices was majorly due to the fall in the dollar value in the market along with stimulus packages being released by central banks all over the world to help the economy recover.
    • Silver prices in the third week of the month should constant fluctuations with major inclines in prices as well. On 17 April, the price of the metal was Rs.41,900 per kg and fluctuated to a great extent due to the global and local demand of the metal during COVID-19. The price of silver decreased on 18 April to Rs.41,210 per kg with a fewer number of COVID-19 cases being reported in the world. With talks of a possible vaccine being mentioned, risk appetite amongst investors increased and prompted them back to the stock market. By 20 April, the price of the metal had dipped to Rs.41,170 per kg but not before increasing to Rs.42,710 per kg on 21 April, marking the highest price of the metal for the month. Silver closed the third week at Rs.41,660 per kg on 22 April.
    • In the last week of April, silver prices showed heavy inclines throughout, opening the week at Rs.41,420 per kg on 23 April. On 24 April, the price of the white metal Rs.42,430 per kg owing to stimulus packages being launched by various central banks in the world. Along with this, steady demand amongst investors also played an important role in the rise in prices. By 26 April, a kilogram of silver was being sold at Rs.42,610 per kg. However, in the last two days of the month, the metal’s price dipped below the Rs.42,000 per kg mark. With the ease in lockdown restrictions and possibilities of businesses opening around the world, especially in the United States of America, the price of the metal went down and closed at Rs.41,520 per kg recording a percentage incline for the month of 2.51.

    Trend of Silver Rate in Bangalore for March 2020 (rates per kg)

    Parameters Silver Price (per kg
    March 1 Rate Rs.47,400 per kg
    March 31 Rate Rs.40,500 per kg
    Highest Rate in March Rs.50,700 per kg on 6 March
    Lowest Rate in March Rs.37,800 per kg on 19 March
    Overall Monthly Performance Decline
    Percentage Change -14.5%
    • With the effect of the Coronavirus increasing all over the world, especially the United States of America, the value of the bullion saw a slump with investors shifting to cash by selling their assets. The rise in the value of the dollar also affected the value of the metal. Silver prices opened the month of March at Rs.47,400 per kg and increased in the first week of the month. The marginal rise in its prices was mainly due to investors awaiting the rate cut by the United States Federal Reserve to help stabilise the economy. With a decreased risk appetite amongst investors, the metal’s prices increased to hit its monthly high at Rs.50,700 per kg on 6 March.
    • For the second week of the month, silver prices showed heavy fluctuations with mixed trends in the global market. The price of the metal on 7 March was Rs.50,500 and remained steady on 8 March. However, on 9 March, silver prices fell substantially to Rs.49,200 per kg. The metal recovered on 10 March at Rs.50,000 per kg. However, post hitting the Rs.50,000 per kg mark, the metal’s prices started dipping with a greater number of traders selling off their assets to hoard cash amidst the dollar value increase in the market. By 15 March, the value of silver was Rs.44,000 per kg, falling by Rs.5,300 per kg from the monthly high.
    • The third week of the month saw silver prices hitting its monthly low. Opening at Rs.44,000 per kg, the metal’s priced dipped further to the Rs.39,000 per kg levels at Rs.39,300 per kg on 18 March. On 19 March, the price of silver had hit its lowest price in the month at Rs.37,800 per kg. This was due to the rise in the number of cases of Coronavirus all over the world, majorly in the United States of America. With traders hoarding for cash and the dollar holding its value in the market, the value of the white metal dipped further. However, with the United States Federal Reserve stating the measures taken to combat the virus, traders started shifting to the bullion market. The price of silver increased marginally to cross the Rs.40,000 per kg mark. On 23 March, a kg of silver was priced at Rs.40,700.
    • Silver, in the last week of the month, remained steady, opening at Rs.40,500 per kg on 25 March. With steady global trends, the value of the bullion held in the country as well. At the end of the month, silver prices closed on 31 March at Rs.40,500 per kg, recording a percentage decline of 14.5.

    Trend of Silver Rate in Bangalore for February 2020 (rates per kg)

    Parameters Silver Price (per kg)
    February 1 Rate Rs.50,300 per kg
    February 29 Rate Rs.47,400 per kg
    Highest Rate in February Rs.52,900 per kg on 24 February
    Lowest Rate in February Rs.47,400 per kg on 29 February
    Overall Monthly Performance Decline
    Percentage Change -5.76%
    • For the month of February, silver prices showed constant fluctuating trends throughout the global market, including in Bangalore. The price of the metal on 1 February was Rs.50,300 per kg and ended the month with an overall decline in prices of 5.76%. Even amidst renewed fears of the Coronavirus and new cases of the virus in other parts of the world, the price of the metal ended at a decline due to profit-booking by investors at the end of the month.
    • After hitting Rs.50,000 per kg on 7 February, the price of the metal fluctuated throughout the second week of the month. Silver prices decreased through the second week as China liquidated funds helped keep the economy afloat. Apart from this, China’s senior medical advisor also mentioned that the epidemic may be over by April, which prompted investors to shift back to the markets with increased risk appetite.
    • With the value of the dollar holding strong and capping the possible gains of silver in the global market, the price of the metal was Rs.50,400 per kg on 18 February. With a slight decrease in the number of new cases of the disease, investors shifted to the stock market momentarily. However, this was short-lived when South Korea reported an increase in the number of cases in the country. On 24 February, the metal was valued at Rs.52,900 per kg.
    • The last week of the month was when the metal suffered a fallback. Even through silver prices were expected to increase amidst the increasing number of Coronavirus cases in the world, the prices dipped. With investors booking profits amidst the price rallies. The metal closed the month with a percentage decline of 5.76 at Rs.47,400 per kg on 29 February.

    Trend of Silver Rate in Bangalore for January 2020 (rates per kg)

    Parameters Silver Price (per kg)
    January 1 Rate Rs.50,300 per kg
    January 31 Rate Rs.50,200 per kg
    Highest Rate in January Rs.52,600 per kg on 8 January
    Lowest Rate in January Rs.49,200 per kg on 30 January
    Overall Monthly Performance Decline
    Percentage Change -0.19%
    • In Bangalore, silver’s overall monthly performance witnessed a declining trend. The rates opened the month of January at Rs.50,300 per kg, a drop of Rs.600 per kg from the closing price of the previous month.
    • The rates touched the highest for the month in the city on 8 January with every kilogram costing Rs.52,600. The jump in the prices was accounted to the tensions between the United States and Iran.
    • Silver prices however started to fluctuate after that as concerns grew over the demand of the white metal following the outbreak of the deadly coronavirus in China. Unrest in the Middle East and weak US dollar were also responsible for the fluctuations in the prices.
    • The price of the white metal slipped to its lowest on 30 January as the World Health Organization declared the virus as a global epidemic. Silver closed the first month of 2020 at Rs.50,200 per kg.

    Also Check Silver Price in Other Cities

    Silver as an Investment in Bangalore

    Silver has gradually increased its share in the local commodities market. Silver generally offers good returns and the metal can be readily sold any time a person wants to, as there is a good demand for the metal and it offers good resale value. Silver is purchased by Bangalore residents in the forms of:

    Physical silver: Physical silver encompasses categories such as bullions including bars and ingots, jewelry and ornament, silverware and other utensils, and coins, among others. Silver is also a pretty popular gifting item, and sees a seasonal spike in sales during festivals and marriage seasons. Jewelry stores sell silver at a premium over market prices due to workmanship and other costs in designing the pure metal. Bullion dealers offer the cheapest option for silver rates in Bangalore, however they generally sell silver in larger quantities, which can be expensive and call for a greater level of safety on investments. Coins are available in different purities and can be purchased from a variety of places including banks.

    Silver contracts: Silver contracts in the city can be purchased from the national commodities exchanges including NCDEX and MCX. Out of these MCX is recognized as a global silver trading market and is quite popular in and out of the country. Contracts are available for base quantities of 1kg of silver and at purities of 999 and 995 parts per thousand.

    The Trend of Silver Rate in Bangalore

    In Bangalore, silver is considered as an important metal and can be a substitute for gold. Silver is used not only in jewellery but also heavily used in industries for the manufacture of many products. Apart from this, the white metal is also used as currency and has been used as wealth for many centuries. If there is a crash in the market, the value of silver would not be affected as it carries value in its physical form as well. Silver prices are directly related to the gold prices in the country and also dependant on the international value of the metal as well.

    What Are The Factors Affecting The Silver Rate In Bangalore?

    The major factors which affect the silver prices in Bangalore are the industrial demand of the metal along with the demand for physical silver. Apart from this, the international trend of silver and gold plays a major role in the volatility and constant fluctuation of the price in the city.

    Several additional factors have a role in determining silver rates in Bangalore such as geopolitical uncertainties, the trend of crude oil in the market, and the value of the U.S. dollar against other currencies. Moreover, any changes in import taxes, rate cuts by central banks also affect the price of silver.

    Read more on Silver

    News About Silver Rate in Bangalore

    • Silver futures prices on MCX fall by 0.06% on 21 September 2021

      Silver futures prices on MCX fell by Rs.35.9 or 0.06% on 21 September 2021 and were at Rs.59,868 for a kg. In the international markets, the prices of the white metal plunged by 0.06% and were at $25.20 for an ounce. Like silver, gold futures prices also fell in India. Gold futures prices on MCX fell by 0.19% and were at Rs.46,210 for 10 grams. In the last session, the prices of the yellow metal jumped by Rs.87.8 or 0.6%. In the international markets, gold prices continued to jump. Gold rates jumped by 0.18% and were at $1,816.70 for an ounce.

      21 September 2021

    • Gold and Silver Futures on 17 August 2021

      On the MCX, gold futures were up 0.01% or Rs.7, to Rs.47,232 per 10 grams on Tuesday, 17 August 2021. At Rs.63,600 per kilogram, silver futures rose 0.23%, or Rs.143.

      17 August 2021

    • Silver price down by Rs.255 on Tuesday

      On Tuesday, the price of silver recorded a decline of 0.37 percent or Rs.255 per kilogram on the Multi Commodity Exchange (MCX). The drop in the rates saw a kilo of the white metal cost Rs.68,978. It needs to be mentioned here that in the spot market, silver was priced at Rs.68,204 on Monday. Globally, the precious metal was trading at $26.03 per ounce after easing by 0.2 percent.

      Gold price also eased on Tuesday as a firmer dollar made the bullion expensive for holders of other currencies. Gold futures on the MCX were down 0.16 percent and 10 grams of gold cost Rs.46,934. In the international market, spot gold price and US gold futures were down by 0.2 percent each and was trading at $1,775.42 and $1,776.40 per ounce.

      29 June 2021

    • Gold price today at Rs 48,310 per 10 gm, silver trending at Rs 71,600 a kg

      The cost of 22 carat gold on Monday rose to Rs.48,310 for 10 gm from Rs.48,300 and silver was retailing at Rs.71,600 per kg.

      The price of gold in New Delhi for 22-carat gold is at Rs.47,110 per 10 gm. The price of the yellow metal in Chennai grew to Rs.46,160. The cost in Mumbai was Rs.48,310.

      The cost of 24-carat gold also saw a g growth of Rs.10 per 10 gram to Rs.49,310 on Monday from Rs.49,300 on the previous day.

      The cost of silver remained flat at Rs.71, 600 per kilogram. The rupee dropped 8 paise to end at 72.99 against the US dollar on Friday.

      Spot gold rose 1% to $1,889.27 per ounce. US gold futures grew 1% at $1,892.

      07 June 2021

    • Silver price on the MCX plunge by 0.54 percent

      On the Multi Commodity Exchange (MCX), silver futures were down by 0.54 percent or Rs.388.30 per kg on Wednesday. The drop in the rates meant a kilogram of the white metal cost Rs.71,908 per kg. In the international market, silver rate was down by 0.34 percent to cost $27.8 per troy ounce.

      Gold price in India also plunged on the MCX. The rate was down by 0.08 percent and 10 grams of the yellow metal cost Rs.49,160. Spot gold price was up by 0.02 percent taking the value to Rs.47,910 despite global gold prices witnessing a decline of 0.02 percent. A troy ounce of global spot price cost $1,896.7. The dollar to rupee conversion today increased to Rs.73.1 from the previous close of Rs.72.9.

      02 June 2021

    • Gold prices increase near to Rs.48,000 per 10-gram mark; silver prices rise

      Silver and gold futures in the market were trading on a positive note on 23 April due to a weaker U.S. dollar value and the falling U.S. Treasury yields. U.S. President Joe Biden’s proposal to hike the capital tax gains prompted investors to shift to the bullion.

      On the Multi Commodity Exchange, gold prices increased by 0.17% to Rs.47,853 per 10 grams. Silver prices also inclined by 0.16% to Rs.69,330 per kg. In the spot market, gold prices declined by Rs.168 to Rs.47,450 per 10 grams. Silver, on the other hand, increased by Rs.238 to Rs.69,117 per kg.

      In the global market, spot gold increased by 0.2% to $1,781.11 per ounce. Silver prices, however, declined marginally by 0.3% to $26.10 per ounce.

      23 April 2021

    • Silver prices fall by more than Rs.200; gold prices fall marginally

      Silver prices dipped by Rs.216 to Rs.64,222 per kg compared to its previous closing price of Rs.64,438 per kg in the domestic markets due to a muted trend seen in the international market.

      Gold prices declined marginally by Rs.15 to Rs.44,949 per 10 grams compared to its previous closing price of Rs.44,964 per 10 grams. According to sources, spot gold prices were down by Rs.15 due to a mute trend in trading.

      In the international market, gold prices were also trading low at $1,727 per ounce and silver prices were trading flat at $24.78 per ounce.

      06 April 2021

    • Delivery of silver could cross Rs.700 crore on the Multi Commodity Exchange

      The silver futures contract was recently concluded on the Multi Commodity Exchange and the metal saw a delivery intention of 80.85 tonnes which was valued at Rs.545 crore. This could be a record for a single day as was seen on 8 March 2021.

      The delivery intention of 80,850 kilos was seen on the Multi Commodity Exchange on 1 March in Ahmedabad and there are no clear intentions if the sellers are one or more. The contracts had expired on 5 March and according to data, from 1 March to 4 March, the intention of silver delivery was valued at Rs.725 crore in the contracts for March.

      According to sources, the physical demand for silver was less due to a drop in demand in the industries in Tamil Nadu and the country due to higher prices. Due to this, traders are often known to deliver accredited silver bars on the exchange.

      08 March 2021

    • Price of gold and silver rise by more than Rs.200 in the domestic market

      Gold prices increase by Rs.278 to Rs.46,013 per 10 grams in New Delhi due to a weaker dollar and a positive trend seen in the international market. Gold prices had earlier closed at Rs.45,735 per 10 grams in the previous session.

      Silver prices, as well, increased by Rs.265 to Rs.68,587 per kg compared to its previous closing price of Rs.68,322 per kg.

      In the international market, gold prices were trading lower at $1,774 per ounce and silver prices as well were low at $26.94 per ounce.

      22 February 2021

    • Gold declines Rs.118; silver falls Rs.875

      Prices of gold slipped Rs.118 to Rs.49,221 per 10 gram in New Delhi on Wednesday on a weak global trend. The yellow metal had closed at Rs.49,339 per 10 grams previously. Prices of silver also dropped Rs.875 to Rs.63,410 per kg, from Rs.64,285 per kg.

      In the international market, gold fell at $1,860 per ounce, while silver was slipped $24.22 per ounce.

      Gold prices were trading under pressure due to strong equity indices as investors kept a close eye on the progress on COVID-19 vaccine approvals and its distribution.

      09 December 2020

    • Silver rates fall in India on 17 November due to vaccine optimism

      Silver futures prices for the month of December on MCX fell by 0.21% on 17 November and were at Rs.63,555 for a kg. According to SMC Global, silver rates in the international markets could range between $22.60 and $26.20. Gold futures prices for the month of December fell by 0.04% and were at Rs.50,810 for 10 grams. On 16 November, the prices of the yellow metal closed at Rs.50,830 for 10 grams. Silver and gold prices fell because of vaccine optimism. Spot gold prices in the international markets remained unchanged and were at $1,887.99 for an ounce. Gold futures prices in the US jumped by 0.1% and were at $1,888.70 for an ounce.

      17 November 2020

    • Yellow metal holds above Rs 51,000; Silver down over 1%

      The talks regarding the economic stimulus among US lawmakers faced a setback on October 21 when President Donald Trump accused the Democrats of being unwilling to craft a compromise on aid.

      On the Multi-Commodity Exchange (MCX), December gold contracts were dropped by 0.46% at Rs.51,095 per 10 grams. December silver futures slipped 1.1% at Rs 62,899 per kg.

      Gold settled at $1929.50 per troy ounce with a gain of 0.74% and silver settled at 25.24 per troy ounce.

      The Dollar Index, dropped for a third straight day, losing 0.5% to hit a seven-week low of 92.46.

      23 October 2020

    • Gold increases Rs.454, silver rises Rs.751

      Price of gold grew by Rs.454 to Rs.51,879 per 10 gram in Delhi on Tuesday as the value of Indian Rupee dropped, according to HDFC Securities. The yellow metal had closed at Rs.51,425 per 10 gram on Monday. The price of silver also surged Rs,751 to Rs.63,127 per kilogram from Rs.62,376 per kilogram in the previous trade.

      The rupee pared initial gains and finally settled at 17 paise lower at 73.46 against the US dollar on Tuesday after trading closed.

      On the global markets, gold was traded marginally lower at USD 1,910 per ounce, while the white metal remained flat at USD 24.25 per ounce.

      7 October 2020

    • Gold rates fall below Rs. 50,000, and silver reaches Rs.58,700

      The prices of gold and silver had reduced tracking the international prices which has shifted sideways after a selloff during previous trading rally. On the Multi Commodity Exchange (MCX), the gold futures prices had dipped by Rs.550 (1.09%) and had reached Rs.49,831. The silver futures for December had reduced and reached Rs.58,681 from the previous price of Rs.61,213. The U.S. dollar had gained and this made the metals very expensive for everyone who held other currencies. At the level, the gold had then receded by 11.32% from an all-time high of Rs.56,191 which had been last month. The Comex gold futures had range bounded between $1,877.90 and $1,909.90. per ounce. 

      24 September 2020

    • Silver futures prices increase by Rs.510 on 15 September 2020

      Silver futures prices for the month of September increased by Rs.510 and were at Rs.69,475 for a kg on 15 September 2020. On 7 August 2020, silver futures prices hit record highs and were at Rs.77,949 for a kg. In the international markets, the prices of silver reduced and were at $27.12 for an ounce. According to various commodity analysts, traders are looking forward to the outcome of the US Central Bank’s policy meeting that is scheduled on 15 September and 16 September. The tensions between China and India have dented hopes that the economy would recover faster. In times of financial and political uncertainties, there is a boost for safe-haven assets.

      16 September 2020

    • Silver futures prices gain by Rs.108 on 16 September 2020

      Silver futures prices on MCX for the month of September gained by Rs.108 and were at Rs.69,075 for a kg. Silver futures prices hit record highs on 7 August and were at Rs.77,949 for a kg. In the international markets, the prices of silver fell by 0.1% and were at $27.20 for an ounce. Gold prices increased for the third consecutive session in the country. The main reason for the increase in prices was a weak dollar. Gold futures prices for the month of October increased by Rs.166 and were at Rs.51,935 for 10 grams. On 7 August, gold futures prices hit record highs and were at Rs.56,191 for 10 grams. In the international markets, spot gold prices increased by 0.1% and were at $1,957.45 for an ounce.

      16 September 2020

    • Gold prices almost near record highs; silver prices cross Rs.65,000 per kg level

      Gold prices traded near its record high on 3 August 2020 due to positive trends in the international market. With the United States of America devising a new stimulus plan, the risk appetite amongst investors lowered. On the Multi Commodity Exchange, gold futures for August was trading at Rs.53,555 per 10 grams.

      With the United States dollar showing a weaker trend in the market, August futures touched an intraday high at Rs.53,700 per 10 grams. Silver futures for September increased by Rs.607 and was trading at Rs.65,670 per kg.

      In the international market, spot gold was trading at $1,976.47 per ounce after gaining by 1% and was at its all-time high. Silver, on the other hand, dipped marginally by 0.1% to $24.25 per ounce.

      4 August 2020

    • Silver touches its highest, gold on its way towards record expectations

      Silver touched its highest in almost seven years and gold continued to move towards record high as markets looked for more stimulus to help the global economy recover from the Covid-19 pandemic. As the number of cases due to the virus continues to grow, traders are turning to the precious metals on surging demand for havens. Slowing growth and negative real interest rates in the United States. Have only made the investors gravitate towards silver and gold. After the success of a European rescue package this week, close eye will be kept on the negotiations between Republicans and Democrats on legislation to prop up the hobbled American economy. Spot silver climbed as much as 7.2% to $22.8366 an ounce, the highest since 2013, and traded at $22.6078. Gold grew as much as 1.3% to $1,865.81 an ounce, the highest since September 2011, and closing in on the all-time high of $1,921.17 set that year.

      22 July 2020

    • Gold prices record marginal incline while silver dips

      Gold prices showed a decline of 0.79% on 16 July compared to its previous day’s closing. The metal’s value dipped by Rs.386 to Rs.48,773 per 10 grams.

      In the international market, the price of the metal showed a substantial drop in prices, however, the losses were capped due to the constant rise in COVID-19 cases all over the world. The persisting tensions between China and the United States of America also helped steady gold prices.

      Spot gold was priced at $1,797.24 per ounce, dipping by 1% and U.S. gold futures remained steady at $1,799.70 per ounce.

      17 July 2020

    • Silver rates climb on Friday

      Silver rates gained on Friday tracking firm global rates. The futures of the white metal were up by Rs.190 and was trading at Rs.51,285 per kilogram. While silver gained, gold erased gains. The futures of the yellow metal touched the day’s high of Rs49,948 for every 10 grams on the Multi Commodity Exchange (MCX) after increasing by Rs.70.

      It must be noted here that both gold and silver prices in the commodity market have been hitting new highs recently as traders have shunned risk and sought safe havens.

      In the international bullion market, spot gold was little changed at $1,799 per ounce, after hitting $1800 mark while silver was quoted at $18.94 per ounce on Friday.

      10 July 2020

    • Gold and silver see a significant rise in prices in the country

      The price of gold in Delhi on 1 July increased by more than Rs.600 to Rs.49,908 per 10 grams on Wednesday tracking positive trends in the international market. In the previous session, the precious metal had closed at Rs.49,261 per 10 grams. Following suit, silver prices also jumped substantially by Rs.1,611 per kg from Rs.50,259 per kg to Rs.51,870 per kg.

      According to Tapan Patel, Senior Analyst (Commodities), HDFC Securities, spot gold prices saw a heft gain in Delhi for 24-karat gold due to international trends of the metal’s value. In the international market, gold was trading at $1,788 per ounce and silver crossed the $18 per ounce at Rs.$18.34 per ounce.

      3 July 2020

    • Silver prices increase in Bangalore and cross Rs.50,000 for a kg

      The prices of silver increased by 0.12% in Bangalore on 1 July 2020 and are at Rs.50,423 for a kg. In the previous session, the prices of silver increased by 3%.

      In the international markets, the prices of silver increased by 0.6% and are at $18.24 for an ounce. Like silver, the prices of gold increased in India as well. Gold futures prices for the month of August on MCX increased by 0.14% and are at Rs.48,830 for 10 grams. In India, the prices of gold are inclusive of 3% GST and 12.5% import duty. Due to the increase in the number of coronavirus cases, the prices, the prices of gold increased in the global markets as well. Spot gold prices increased by 0.1% and are at $1,782.21 for an ounce. The prices of gold have increased due to the several measures that have been introduced by central banks and governments all over the world. In the case of currency debasement and inflation, investors move towards gold. According to a note given Kotak Securities, the tensions between China and the US are causing more issues to the economy recovering quicker.

      1 July 2020

    • Gold reaches Rs.48,559 and silver increases to Rs.48,600

      The prices of gold had increased to Rs.48,559 from Rs.48,534. Silver rates had also made a few gains from Rs.48,556 and closed at Rs.48,600. In spite of there being no increase in demand, the rates prices of the yellow metal had increased and reached an all-time high mark of Rs.48,825 and had then dipped more than Rs.250.

      In the city of New Delhi, the rates of 22-carat gold had decreased by Rs.150 per 10 gram and was being sold at Rs.47,100, and in Chennai, the price had been Rs.46,270. In Mumbai, the prices had gold had increased by Rs.50 and reached Rs.48,350 for 22-carat and 24 carat was being sold at Rs.48,450.

      30 June 2020

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