Silver Rate in Bangalore Today

Today's Silver price in Bangalore :

  • 1 gram silver price is 50.00 Indian Rupee
  • 1 kg silver price is 50,000 Indian Rupee
  • Today's Silver Rate in Bangalore( 23 Jan 2020 )
    ₹ 50
    Today's Silver Rate per gram
    Compare Silver Rate In Bangalore (Today & Yesterday)
    (23 Jan 2020)
    (22 Jan 2020)
    Rate Change
    Silver (1 gram) ₹ 50 ₹ 49.8 ₹ 0.2 ↑
    Bar Silver (1 Kg) ₹ 50,000 ₹ 49,800 ₹ 200 ↑
    Silver Price In Bangalore For Last 10 Days
    Date Silver (1 gram) Bar Silver (1 Kg)
    23 Jan 2020 ₹ 50 ₹ 50,000
    22 Jan 2020 ₹ 49.8 ₹ 49,800
    21 Jan 2020 ₹ 51 ₹ 51,000
    20 Jan 2020 ₹ 50.7 ₹ 50,700
    19 Jan 2020 ₹ 50.4 ₹ 50,400
    18 Jan 2020 ₹ 50.4 ₹ 50,400
    17 Jan 2020 ₹ 50.4 ₹ 50,400
    16 Jan 2020 ₹ 50 ₹ 50,000
    15 Jan 2020 ₹ 50 ₹ 50,000
    14 Jan 2020 ₹ 49.7 ₹ 49,700

    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.

    Trend of Silver Rate in Bangalore for December 2019 (rates per kg)

    Parameters Silver Price (per kg)
    December 1 Rate Rs.48,100 per kg
    December 31 Rate Rs.50,900 per kg
    Highest Rate in December Rs.50,900 per kg on 31 December
    Lowest Rate in December Rs.46,400 per kg on 10 December
    Overall Monthly Performance Incline
    Percentage Change 5.82%
    • On the first day of the month, the price of silver in Bangalore was at Rs.48,100 per kg. Bangalore saw an incline in the prices of silver for the month of December.
    • Due to the optimism of the trade deal between China and the US, the prices of silver reduced from 2 December 2019 to 11 December 2019. However, silver prices increased from 12 December 2019 due to the trade deal concerns and the impeachment of the US President.
    • On 10 December 2019, the price of silver touched its lowest of Rs.46,400 for a kg in Bangalore.
    • However, the price of silver gained and touched its highest of Rs.50,900 per kg on the last day of the month. Overall, the prices of silver saw an incline of 5.82% for the month of December in Bangalore.

    Trend of Silver Rate in Bangalore for November 2019 (rates per kg)

    Parameters Silver Price (per kg)
    November 1 Rate Rs.50,500 per kg
    November 30 Rate Rs.48,100 per kg
    Highest Rate in November Rs.50,700 per kg on 2 and 3 November
    Lowest Rate in November Rs.47,200 per kg on 9 and 10 November
    Overall Monthly Performance Decline
    Percentage Change -4.75%
    • The price of silver in Bengaluru opened at Rs.50,500 per kg for the month of November. The price of the precious metal was the direct result of the interest rate cut of the US Federal Reserve.
    • The price went up on the second day of the month and stood at Rs.50,700 per kg which has been the highest recorded price for the month. The price hike has been affected by the US-China trade war.
    • Owing to all these factors, the price of the precious metal closed at Rs.48,100 per kg on the 30th of November. There was an overall decline of –4.75% in the performance of silver.

    Trend of Silver Rate in Bangalore for October 2019 (rates per kg)

    Parameters Silver Price (per kg)
    October 1 Rate Rs.47,400 per kg
    October 31 Rate Rs.50,000 per kg
    Highest Rate in October Rs.50,400 per kg on 26 and 27 October
    Lowest Rate in October Rs.47,400 per kg on 1 October
    Overall Monthly Performance Incline
    Percentage Change 5.4%
    • Silver rate in Bangalore traded low at the starting of the month at Rs.47,000 per kg with the US-China trade war causing uncertainties, ultimately helping the dollar to rise. This was also the lowest rate in October.
    • Prices climbed to Rs.50,400 per kg on 26 and 27 October as stocks were positively impacted by the strengthening of the dollar and rise of equity markets as the US stated it was close to a trade pact with China.
    • Silver prices were at Rs.50,000 per kg by the end of the month with a steady incline of 5.4% as the uncertainty around the US-China deal resulted in the metal becoming a more attractive and safe investment.

    Also Check Silver Price in Metro Cities

    Trend of Silver Rate in Bangalore for September 2019 (rates per kg)

    Parameters  Silver price (per kg) 
    September 1 Rate  Rs.51,600 per kg
    September 30 Rate  Rs.48,500 per kg 
    Highest Rate in September  Rs.55,200 per kg on 4 September 
    Lowest Rate in September  Rs.48,500 per kg on 30 September 
    Overall Performance  Decline 
    Percentage Change  -6% 
    • Silver prices in Bangalore opened at Rs.51,600 per kg on steady industrial demand despite conflicting overseas cues.
    • The metal was subject to fluctuations in demand due to tensions in the Middle East, which drove up bullion demand as prices rose to Rs.55,200 per kg on 4 September.
    • Demand was sluggish as equity markets recovered and interest in safe-haven assets fell, as silver prices dropped steadily.
    • The end of the month saw a continued fall in rates as retail demand plummeted on high import costs, with the metal ending the month at a monthly low of Rs.48,500 per kg on 30 September, with prices falling by 6% during the month.

    Trend of Silver Rate in Bangalore for August 2019 (rates per kg)

    Parameters Silver Price (per kg)
    August 1 Rate Rs.44,100 per kg
    August 31 Rate Rs.51,600 per kg
    Highest Rate in August Rs.52,200 per kg on 29 August
    Lowest Rate in August Rs.44,100 per kg on 1 August
    Overall Monthly Performance Incline
    Percentage Change 17%
    • The month began with silver price in Bangalore opening at Rs.44,100 per kg due to declining retail demand but market volatility bolstered price as the metal rose steadily.
    • An increase in tensions in the Middle East unsettled equity markets and impacted the dollar rate which resulted in investors increasing their bullion offtake, as the white metal rose to Rs.48,800 per kg on 13 August.
    • Prices remained static for a few days before dropping to Rs.47,800 per kg on 19 August on U.S. interest rate cut hopes and fears over a possible recession.
    • Despite fluctuations in overseas demand, local interest in silver remained high as industrial units and coin makers capitalized on a weak rupee, with prices rising to Rs.52,200 per kg on 29 August before settling at Rs.51,600 per kg when the month ended.

    Trend of Silver Rate in Bangalore for July 2019 (rates per kg)

    Parameters  Silver Price (per kg) 
    July 1 Rate  Rs.40,500 per kg 
    July 30 Rate  Rs.44,800 per kg 
    Highest Rate in July  Rs.44,900 per kg on 25 July 
    Lowest Rate in July  Rs.40,400 per kg on 2 July 
    Overall Monthly Performance  Incline 
    Percentage Change  10.61% 
    • Silver prices in Bangalore opened at Rs.40,500 per kg due to sluggish local demand but rose on positive overseas cues and an increase in industrial demand, trading at Rs. 41,300 per kg on 11 July.
    • A rise in Middle East tensions unsettled markets and the dollar resulting in investors increasing their bullion offtake, as the industrial metal rose to Rs.41,300 per kg on 13 July.
    • Prices remained constant for a few days before a bullion rally led to the metal surging to Rs.44,500 per kg on 19 July on U.S. interest rate cut hopes and rising economic uncertainty.
    • Demand for silver remained high as industrial units and coin makers capitalized on a weak rupee, with prices rising to Rs.45,900 per kg on 25 July and settling at Rs.44,800 per kg when the month ended.

    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.

    Also Check Silver Price in Other Cities

    Read more on Silver

    News About Silver Rate in Bangalore

    • Silver Gains on Rising Demand from Coin Makers and Industrial Units

      Silver prices rose as increased offtake by coin makers bolstered demand for the industrial metal. The industrial metal closed at Rs.39,090 per kg to record a rise of Rs.90 as industrial offtake also rose on positive global cues.

      Dovish comments from major central banks as well as rising tensions in the Middle East increased bullion’s appeal globally.

      Despite the rise in silver futures, there was no change in the price of silver coins which traded flat at Rs.80,000 for the purchase and Rs.81,000 for the sale of 100 pieces.

      24 June 2019

    • Silver Rates Fall on Sluggish Demand and Weak Global Cues

      Silver and gold rates fell in trading as well overseas cues and a drop in demand impacted prices. Silver prices fell by Rs.370 to trade at Rs.40,680 per kg as industrial demand was on the decline. Coin makers also reduced orders due to weak trends from overseas. 

      Positive U.S. economic data boosted the dollar rate and led to a revival across equity markets, which diminished bullion’s appeal among investors.  

      On the global front spot silver fell by 0.22% to trade at $15.64 per ounce.  

      Meanwhile gold prices also dropped marginally on subdued demand from jewellers. Gold fell by Rs.120 to trade at Rs.34,080 for 10 grams. International demand for gold was also weak as the metal fell by 0.28% to trade at $1,310.20 per ounce. 

      1 March 2019

    • Silver Shines on Industrial Demand Surge, Gold Muted

      Silver rates in Bangalore rose on a spurt in demand from industrial units and coin makers. Silver prices rose by Rs.118 to trade at Rs.40,386 per kg on the futures market as local industrial units took advantage of a low dollar rate and market instability to increase their long positions. 

      Gold prices on the other hand saw muted demand from overseas which was reflected in local trading. The yellow metal traded at Rs.33,510 for 10 grams on the futures market to reflect a miniscule rise of Rs.7.  

      Weak retail demand and reduced offtake by jewellers reduced the yellow metal’s appeal, though a firming trend could boost flagging demand.

      25 February 2019

    • Bullion Drops on Sliding Demand, Overseas Cues

      There was a slight drop in both gold and silver prices as lacklustre demand and static overseas trends impacted rates. Gold traded 0.11% lower on the Multi-Commodity Exchange (MCX) to open at Rs.33,329 for 10 grams.  

      Similarly, the price of silver dropped by 0.15% to trade at Rs.40,303 per kg as industrial demand was static. Overseas demand for the metal was also poor as traders awaited the State of the Union address for indications on the Sino-U.S. trade talks. A marginal recovery in the dollar rate also reduced demand for bullion due to the increase in import cost for non-dollar buyers. 

      Analysts expect gold to meet some resistance as the dollar appears to be recovering, though predictions for silver remain robust.

      6 February 2019

    • Silver Prices Set To Rise In September?

      The price of silver looks set to rise after making a 0.5% gain in the past week. Silver prices today stood at $17.18 per ounce. Silver prices rose to trade at $17.05 per ounce in the past week but could rise as the U.S. debt ceiling deadline draws near.

      A failure to raise the debt ceiling could result in markets falling and an increase in demand for silver. The recent dollar trades have also been a positive cue for silver prices, as the U.S. Dollar Index fell by 91 basis points to 92.52.

      The flagging dollar rate and uncertainty over the possibility of an interest rate hike by the U.S. Federal Reserve could push silver towards an ascent in the coming month.

      28 August 2017

    • Silver Rates Fall Marginally In Trading After Dollar Recoups Losses

      Silver prices dipped in trading on Tuesday, 22nd August, 2017 after the U.S. dollar recouped some of its losses and markets calmed.

      Silver futures for September delivery fell by 0.2% to trade at $16.99 per troy ounce.

      Tensions between North Korea and the United States once again ignited a rush for bullion but the dollar rebounded after back-to-back losses, climbing 0.5% in trading.

      Following the dollar’s positive turn, global markets also rose, stimulated by the recent boost. Chinese stocks also rose as Eurozone bourses were in the green after a period of negative trading.

      22 August 2017

    • Silver Prices Climb To Rs.38,000 Due To Weak Dollar

      Silver prices rose to Rs.38,000 per kg today as bullion demand rose due to a weak U.S. dollar. Speculation as well as industrial offtake led to increased demand for the white metal. Silver ended the day trading at Rs.38,355 per kg on August 1st, 2017.

      Gold prices were also on the upswing, with the yellow metal trading at Rs.28,540 for 10 grams in the national capital in early trading on August 1st, 2017. Poor U.S. economic data as well as the decreasing chances of a rate hike this year led to an increase in demand for bullion.

      31 July 2017

    • Gold Rates Increase by Rs.100; Silver Reclaims Rs.42,000 Mark

      Gold prices jumped up Rs.100 and settled at Rs.29430 per 10 grams owing to a positive overseas trend. Domestic jewellers were also responsible for the hike in rates. Silver, on the other hand, reclaimed the Rs.42,000 mark per kilogram by rising by Rs.200 thanks to enhanced offtake by coin makers and industrial units. According to traders, gold prices hit a month’s high as the dollar grew weaker following President Trump’s failure to implement his healthcare legislation. Across the world, gold prices increased by 1.22% to $1258.10 per ounce, making it the highest recorded rate since the 28th of February. Silver prices increased by 0.96% to $17.91 per ounce in Singapore.

      28 March 2016

    • Price Of Silver Reaches Highest Point For 2016

      The price of silver, which had been on the rise for the last few days, has reached its highest for 2016 at USD 15.80 per troy ounce as recorded on Comex division. This is a rise of 1.3% since February 11, 2016. The relative strength has been above 60 and the resistance has now been pegged at USD 15.83. The price of silver has also improved by about 7% since March which has been attributed to the improvement in the global financial markets. This improvement has also helped silver ETFs improve their performance which was recorded at an improvement of 0.5% for the iShare Silver Trust which uses the London Silver Fix Price as its benchmark.

      16 March 2016

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