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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 rates 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 March 2017 (rates per kg)
|March 1st Rate||Rs. 43,900 per kg|
|March 31st Rate||Rs. 42,100 per kg|
|Highest Rate in March||Rs. 44,000 per kg on 2nd March|
|Lowest Rate in March||Rs. 40,300 per kg on 15th March|
March ‘17 - Week 1 (1st to 5th)
- Silver prices in Bangalore were recorded at Rs.43,900 per kg on the 1st of March.
- Prices increased by Rs.100 on the second day of the month to escalate to Rs.44,000 per kg, making it the highest recorded rate in the month of March.
- Silver prices were subject to a decline by Rs.1300 on the third of March owing to a decline in demand from industrialists and coin makers, dragging them down to Rs.42,700 per kg.
- Prices increased by Rs.600 on the 4th and rose to Rs.43,300 where they remained for another week to close the week at a decline of Rs.600 in comparison with the start of the week.
March ‘17 - Week 2 (6th to 12th)
- The price of silver on the opening day of the second week of March was Rs.42,800, recording a decline of Rs.500 from the closing levels of the previous week.
- Prices remained unchanged on the second day of the week thanks to consistent demand and the lack of any major international events.
- On the 8th of March, silver prices fell by Rs.700 to settle at Rs.42,100 per kg, after which another decline by Rs.600 on the 9th of the month saw them dip to Rs.41,500 per kg.
- Silver prices remained stable on the 10th of March as no changes were recorded from the 9th.
- Prices then fell by Rs.300 to Rs.41,200 on the 11th of March, and they remained unchanged for the following few days as demand grew stable.
- Silver closed the second week of March at a decline of Rs.1600 in comparison with the first day of the week.
March ’17- Week 3 (13th to 19th)
- Prices on the first day of the third week of March were stable from their previous levels, trading at Rs.41,200 per kg on the 13th and 14th of March.
- Silver prices tumbled again on the 15th of the month, when they hit Rs.40,300, making it the lowest recorded rate of the metal during March.
- Prices increased by Rs.900 on the 16th and went back to their previous levels of Rs.41,200 per kg.
- A drop in prices by Rs.400 on the 17th saw them fall to Rs.40,800 per kg, after which an increase by Rs.100 saw them stand at Rs.40,900 per kg on the 18th and 19th of March.
March ’17- Week 4 (20th to 26th)
- Silver opened the penultimate week of the month at Rs.41,100 per kg, marking a small incline from the closing levels of the previous week.
- On the 21st of March, prices declined by Rs.300 to settle at Rs.40,800 per kg, and then increased by Rs.400 on the 22nd to settle at Rs.41,200 per kg.
- Prices remained stable on the 23rd before an increase of Rs.100 saw them rise to Rs.41,300 per kg on the 24th of March.
- Prices increased by Rs.400 on the 25th of March and remained unchanged on the 26th as well, closing the penultimate week of the month at Rs.41,700 per kg.
March ’17 – Week 5 (27th to 31st)
- The price of silver on the first day of the last week of March was recorded at Rs.41,700 per kg as there was no change in rates from the closing levels of the fourth week.
- On the 28th of March, an increase by Rs.400 saw prices rise to Rs.42,100 per kg, and stable demand ensured that prices remained the same until the end of the month.
- The last week of March experienced an incline, albeit by just Rs.400, and the overall decline in prices from the first day of the month to the last was 4.10%.
|February 1st Rate||Rs. 41,500 per kg|
|February 28th Rate||Rs. 43,900 per kg|
|Highest Rate in February||Rs. 43,900 per kg on 28th February|
|Lowest Rate in February||Rs. 41,500 per kg from 1st to 7th February|
February ‘17 - Week 1 (1st to 5th)
- Silver prices in Bangalore was stable during the first week due to muted but sustained demand for this precious metal.
- Silver was priced at Rs.41,500 per kg on 1st February and was steady at this rate until the end of the first week of the month.
- This could mainly be attributed to the demand for silver from industrialists and coin makers. This price was the lowest at which silver traded for the month of February.
- It is also quite unusual for a demand as stable as the one noted in the first week of February for silver.
February ‘17 - Week 2 (6th to 12th)
- The second week saw silver opening at the same rate as the previous week at Rs.41,500 and was steady at this price until the 7th of February.
- Right after this, due to increased demand from jewellers and industrialists, the price of silver jumped by over Rs.1,000 to trade at Rs.42,700 per kg.
- Rate of silver was steady at Rs.42,700 per kg thanks to sustained demand for this metal.
- However, this demand could not be sustained and the price of this precious metal fell by Rs.300 to trade at Rs.42,400 on the 10th of February.
- Prices fluctuated during the week, with silver trading at Rs.43,000 per kg on 11th February due to a sudden rise in demand. Silver was steady at this rate until the end of the week.
February ’17- Week 3 (13th to 19th)
- A slight fluctuation in the rate of the U.S. dollar led to rise in the demand for silver with this metal trading at Rs.43,200 per kg on the first day of the third week of February.
- However, demand could not be sustained and the price of silver fell to Rs.43,000 again on the 14th. Rate of silver was steady until the 15th of February.
- Prices rose to Rs.43,300 per kg on 16th February and later rose to Rs.43,400 per kg on 17th February due to a sudden drop in the value of the U.S. Dollar as a result of a projected drop in growth rates for the month.
- Local demand kept prices stable as demand fluctuated, trading at Rs.43,500 per kg on 18th February.
- The week ended with silver trading at Rs.43,500 per kg on 19th February, due to sustained demand, recording a rise of Rs.300 in the price of silver during the third week of February.
February ’17- Weeks 4 & 5 (20th to 28th)
- The price of silver in the last two weeks of February fluctuated slightly due to U.S. Dollar rates and an uncertain market along with unstable demand.
- Silver was priced at Rs.43,300 per kg on 20th February, with the price falling further to trade at Rs.43,200 per kg on 22nd February. Demand was stable the next day as well with silver trading at the same rate.
- A slight increase in demand from coin makers led to silver trading at Rs.43,400 per kg on 24th February.
- Silver prices rose to Rs.43,400 per kg on 25th February, with the price increasing to Rs.43,800 per kg on 27th February.
- Silver prices continued to rise as the month ended, trading at Rs.43,900 per kg on 28th February to record an overall increase of 5.78%. This was also the highest at which silver traded for the month of February.
|January 1st Rate||Rs.39,600 per kg|
|January 31st Rate||Rs.41,500 per kg|
|Highest Rate in January||Rs.41,700 per kg on 23rd January|
|Lowest Rate in January||Rs.39,200 per kg on 2nd January|
January ‘17 - Week 1 (1st to 7th)
- The price of silver saw an increase in the first week of January in Bangalore as demand rose due to fluctuations in the U.S. Dollar rate.
- Silver traded at Rs.39,600 per kg on 1st January as demand was still poor due to lower than usual industrial demand.
- Prices fell to Rs.39,200 per kg on 2nd January due to poor demand before recovering to trade at Rs.39,900 per kg on 4th January.
- Heightened demand from coin makers and higher domestic demand led to prices reaching Rs.40,300 per kg on 5th January.
- Consistent demand from the industrial sector kept prices stable, with silver ending the week trading at Rs.40,300 per kg on 7th January.
January ‘17 - Week 2 (8th to 14th)
- Silver prices continued to rise in the second week of January due to stable demand and favourable market conditions.
- Silver was priced at Rs.40,300 per kg on 8th January, the price remaining unchanged as demand was consistent.
- Prices rose to Rs.40,500 per kg on 10th January as demand from Asian markets was high, as silver rose to Rs.41,020 per kg on 11th January.
- Demand increased further, with silver trading at Rs.41,200 per kg on 12th January but fell the subsequent day to trade at Rs.40,700.
- Silver traded at Rs.40,700 per kg on 14th January as the U.S. Dollar rose.
January ’17- Week 3 (15th to 21st)
- Prices rose marginally in the third week, though demand fluctuated due to market forces.
- Silver was priced at Rs.40,700 per kg on 15th January and rose to Rs.41,200 per kg on 16th January..
- Demand rose as the U.S. Dollar continued to fall, as silver traded at Rs.41,500 per kg on 18th & 19th January.
- A marginal drop in industrial demand led to silver trading at Rs.41,400 per kg on 20th January as the week ended with silver trading at Rs.41,100 per kg on 21st January.
January ’17- Weeks 4 & 5 (22nd to 31st)
- Silver prices in the last two weeks of January were relatively stable as demand was consistent.
- Silver traded at Rs.41,200 per kg on 22nd January and rose by Rs.600 per kg to trade at Rs.41,700 per kg on 23rd January, the highest rate for the month.
- Prices dipped marginally due to a lowering of demand following the Lunar New Year, as silver was priced at Rs.41,600 per kg on 24th January.
- Speculation over the outcome of the U.S. Federal Reserve meeting to be held towards the end of the month led to markets rising slightly, which lowered demand for bullion.
- Silver traded at Rs.41,400 per kg on 26th & 27th January before falling to Rs.40,500 per kg on 28th January on stagnant demand from industry.
- Silver prices fluctuated as the month ended, closing at Rs.41,500 per kg on 31st January to register a rise in price of 4.79%.
|December 1st Rate||Rs.41,100 per kg|
|December 31st Rate||Rs.39,600 per kg|
|Highest Rate in December||Rs.41,100 per kg on 1st,5th,6th & 9th December|
|Lowest Rate in December||Rs.38,500 per kg on 26th December|
December '16 - Week 1 (1st to 4th)
- Silver prices in December fluctuated in the first week due to market uncertainties.
- Silver was priced at Rs.41,100 per kg on 1st December, with the price falling to Rs.40,500 per kg on 2nd December.
- Demand from the industrial sector was muted due to the ongoing currency shortage, which kept prices low.
- The retail sector also saw declining demand, though international markets showed an interest in the metal.
- Silver ended the week at Rs.40,500 per kg on 4th December.
December '16 - Week 2 (5th to 11th)
- Silver prices rose to Rs.41,100 per kg on 5th December as markets fluctuated, as prices dropped to Rs.40,700 per kg the next day.
- Prices rose to Rs.41,100 per kg on 9th December as demand rose marginally as international demand was high.
- Domestic demand continued to recover slowly, resulting in prices falling as the week ended to Rs.41,000 per kg on 11th December.
December '16 - Week 3 (12th to 18th)
- A sluggish bullion market kept silver prices low, as demand from jewellers failed to raise prices.
- Silver traded at Rs.41,000 per kg on 12th December, with prices staying unchanged for the next few days.
- Fluctuations in demand led to prices dropping to Rs.40,500 per kg on 15th December.
- Prices fell further as the week ended, resulting in silver trading at Rs.39,000 per kg on 18th December.
December '16 – Week 4 (19th to 25th)
- The week before Christmas saw silver prices stay more or less constant as demand was stagnant.
- Silver traded at Rs.39,500 per kg on 19th December, with prices continuing to fall due to declining demand.
- Prices fell to Rs.39,000 per kg on 22nd December, with the price remaining constant for the rest of the week.
December '16 – Week 5 (26th to 31st)
- The last week of December saw silver prices fluctuate due to contrasting curs from the international and domestic markets.
- Silver fell to its monthly low of Rs.38.500 per kg on 26th December as domestic demand plunged.
- Prices recovered marginally towards the middle of the week as international demand rose due to higher demand.
- As the currency shortage abated, purchases of silver rose by a fraction.
- Silver ended the year at Rs.39,600 per kg on 31st December, recording an overall loss of over 3%.
|November 1st Rate||Rs.42,600 per kilogram|
|November 30th Rate||Rs.41,100 per kilogram|
|Highest Rate in November||Rs.45,000 per kilogram on 12th and 13th November|
|Lowest Rate in November||Rs.40,200 per kilogram on 25th November|
November '16 - Week 1 (1st to 6th)
- Silver traded at Rs.42,600 per kilogram on 1st and 2nd November.
- Prices climbed this week as industrialists and coin makers increased their offtake.
- Demand for silver was stable as the wedding season kicked off.
- Silver rates climbed to Rs.43,500 per kilogram on 3rd November and remained unchanged for the rest of the week.
- Trends in the global market favoured silver this week.
November '16 - Week 2 (7th to 13th)
- Silver traded at Rs.43,500 per kilogram till 9th November.
- Prices of the metal increased this week as global trends firmed up.
- The highest price recorded this month was Rs.45,000 per kilogram on 12th and 13th November.
- Increased offtake by industrialists and coin makers led to an overall increase in silver prices.
November '16 - Week 3 (14th to 20th)
- Prices dropped this week as Donald Trump’s win in the U.S. presidential elections rocked the global market.
- In the domestic market, the demonetisation scheme took its toll on silver.
- Silver traded at Rs.44,000 per kilogram at the start of the week.
- By the end of the week, silver rates had fallen to Rs.40,600 per kilogram.
- Gloomy consumer sentiments resulted in a fall in physical demand for the metal.
November '16 - Week 4 and 5 (21st to 30th)
- Silver traded at Rs.41,100 per kilogram on 21st November.
- Prices fluctuated this week as the nation faced a cash shortage.
- The lowest price recorded for this month was Rs.40,500 per kilogram on 26th and 27th November.
- Rates of silver increased towards the end of the week as demand picked up.
- Silver traded at Rs.41,100 per kilogram on 29th and 30th November.
|October 1st Rate||Rs.45,500 per kg|
|October 31st Rate||Rs.42,600 per kg|
|Highest Rate in October||Rs.45,500 per kg from 1st-3rd October|
|Lowest Rate in October||Rs.41,700 per kg on 8th and 9th October|
October ’16- Weeks 1 & 2 (1st-9th)
- Silver prices in Bangalore were constant for the initial 3 days before declining due to reduced demand.
- A rise in the U.S. Dollar and strengthening markets led to a decrease in demand for silver.
- Industrial and seasonal demand bolstered prices before demand dropped mid-week.
- Silver was priced at Rs.45,500 per kg on 1st October and Rs.41,700 per kg on 9th October.
- Silver recorded its sharpest drop in value, decreasing by Rs.3,800 per kg in a single week.
October ’16- Week 3 (10th-16th)
- Demand from jewellers due to the festive season boosted demand as industrial offtake reduced.
- Silver traded at Rs.42,000 per kg on 10th October.
- Overseas demand weakened due to a resurgent market and U.S. Dollar, though demand rose marginally by the middle of the week.
- Silver traded at Rs.42,100 per kg on 16th October, marking a Rs.100 decrease in price for the week.
October ’16- Week 4 (17th-23rd)
- Silver prices rose marginally as industrial demand increased.
- Markets were unstable due to the upcoming elections in U.S.A, leading to the U.S. Dollar falling against other currencies.
- Silver capitalised on the fall in market rates, trading at Rs.42,100 per kg on 17th October.
- Silver reached a high of Rs.42,300 per kg from 20th-22nd October before prices fell to Rs.42,100 per kg on 23rd October.
- Silver prices reflected no change for the week.
October ’16- Week 5 (24th-31st)
- Silver made some gains as industrial demand rose and currency markets continued to fluctuate, leading to renewed interest in silver.
- The price of silver was recorded at Rs.42,100 per kg on 24th October and rose steadily during the week.
- Festive buying also led to higher demand for the metal, with the price rising to a monthly high of Rs.42,600 per kg from 29th-31st October.
- While prices increased towards the end of the month, silver recorded an overall decline of Rs.2,900 for the month of October due to reduced demand from various sectors.
|1st Day||Rs.44,300 per kilogram|
|Last Day||Rs.45,500 per kilogram|
|Highest Price||Rs.46,600 per kilogram on 9th September|
|Lowest Price||Rs.44,200 per kilogram on 2nd September|
September '16 - Week 1 (1st to 4th)
- Silver traded at a low price of Rs.44,300 per kilogram on 1st September.
- Prices dropped to Rs.44,200 per kilogram on 2nd September, which was the lowest for this month.
- Silver rates picked up as domestic demand poured in on account of the festive season.
- In the global market, anticipation of a Fed rate hike was put to rest as slow economic data indicated that it would not be possible this month.
- Prices rose to Rs.45,300 per kilogram on 3rd and 4th September.
September '16 - Week 2 (5th to 11th)
- Prices continued to rise this week as the global market trends were positive.
- Silver traded at Rs.46,600 per kilogram on 9th September which was the highest rate for this month.
- By the end of the week, prices dropped to Rs.45,600 per kilogram as the prospects of a Fed rate hike loomed above the market.
September '16 - Week 3 (12th to 18th)
- Silver rates were relatively constant this week.
- Silver traded at Rs.45,600 per kilogram till 15th September and fell to Rs.45,100 per kilogram on 16th September.
- Hawkish comments from the U.S. Federal Reserve indicated that a rate hike could be expected soon.
- Demand dropped by the end of the week as savvy traders were reluctant to invest.
September '16 - Week 4 (19th to 25th)
- Silver traded at Rs.45,100 per kilogram on the 19th of September but rates soon climbed to Rs.45,600 per kilogram.
- The rise in prices could be attributed to the bullish tendencies in the global market.
- The Fed rate hike was put on hold as the U.S. presidential elections were approaching.
- By 25th September, the price of silver rose to Rs.46,200 per kilogram.
- Industrial offtake was strong in the domestic market.
September 2016 - Week 5 (26th to 30th)
- Silver continued to trade at Rs.46,200 per kilogram from 26th to 29th September.
- A bearish atmosphere in the global market led to prices falling to Rs.45,500 per kilogram on 30th September.
- Reduced demand from industrialists and coin markers also dampened silver prices.
|1st August||Rs.48,100 per kg|
|31st August||Rs.44,600 per kg|
|Highest Price||Rs.48,400 per kg on 03rd August|
|Lowest Price||Rs.44,200 per kg from 26th to 29th August|
|Trend||Decline in silver prices|
August '16 – Weeks 1 (1st to 7th)
- Silver prices steadily declined after marking the highest prices of Rs.48,400 per kg on 03rd August due to lack of demand from local market.
- Silver prices at the beginning of the week was Rs. 48,100 per kg and was Rs. 47,200 at the end of the week. Silver prices fell by Rs.900 per kg in the first week of August.
- Positive US economic data affected silver prices in India and abroad.
August '16 – Week 2 (8th to 14th)
- Silver opened at Rs.46,500 per kg at the beginning of the week. Gold and silver prices increased for the next three days despite much expected US economic data report.
- Silver prices fell and was traded at Rs.46,700 per kg during the last two days of the week.
- The demand of silver also increased as demand from local silver coin makers increased.
August '16 – Week 3 (15th to 21st)
- Silver and gold prices fell slightly as investors sold their stocks and local jewellers displayed lack of interest. Silver opened at Rs.46,700 and managed to avoid major fluctuations.
- Reduced demand from coin makers led to the prices declining.
- Firm dollar rate, positive US employment date and FED rate hike contributed to the decline of silver prices. Silver closed at Rs.46,000 per kg.
August '16 – Week 4 (22nd to 28th)
- Silver prices fell and was traded at Rs.45,000 at the beginning of the week. The on-going FED rate hike speculations, increased employment rate in the U.S and lack of demand from spot markets has kept silver prices low this week.
- Though drastic dip in silver prices wasn’t reported, there was a slight decline.
- Silver traded at Rs.44,240 per kg between 26th to 29th August which is the lowest in the month of August.
- Experts forecast increase in silver prices in the second half of the year due to festive season.
August '16 - Week 5 (29th to 31st)
- Lowest silver rate for the month was recorded from 26th to 29th of the month when silver prices were Rs.44,200 per kg. FED rate hike is still speculated and experts expect rise in interest rates. This reduced silver prices.
- Firm dollar bill as well led to the decrease in silver prices.
- Silver prices declined as demand reduced in local market. Silver closed at Rs.44,600 per kg.
|1st Day||Rs.43,500 per kg|
|Last Day||Rs.47,500 per kg|
|Highest Price||Rs.48,000 per kg on 7th July|
|Lowest Price||Rs.43,500 per kg on 1st July|
July'16 - Week 1 and 2 (1st to 10th)
- Although the rate of silver was quite low during the beginning of the month, it picked up quite a bit over the first ten days.
- The highest rate of the month was seen on the 7th of July due to a strong demand and increased global cues.
- Although the rate of silver decreased after that slightly, prices were quite high.
- Despite minor fluctuations, price of silver remained high for the first ten days of the month.
July'16 - Week 3 (11th to 17th)
- A rise in prices was noted throughout the third week of July with regards to the price of silver.
- Silver opened at Rs.46,400 per kg at the start of the week and increased steadily thereafter.
- The highest price of silver noted during the week was on the 15th with price of silver touching Rs.47,600 per kg after which prices decreased marginally.
- The week closed with silver being priced at Rs.47,500 per kg which was also one of the higher rates seen during the third week of the month.
July '16 - Week 4 (18th to 24th)
- Compared to the previous week, rate of silver dipped by Rs.400 on the first day of the week.
- Prices declined even further over the next few days although this was marginal.
- From the 22nd of July, there was a minor increase noted in the price of silver wherein prices touched Rs.46,800 per gram.
- Week closed with silver being priced at Rs.46,800 per gram amidst decreasing demand for the precious metal.
July‘16 - Week 5 (25th to 31st)
- Silver maintained the same rate as that of the previous week for the first day after which a minor decline was noted over the next two days.
- Price of silver increased again to Rs.47,800 per kg which was also one of the higher rates for the month.
- There was a marginal decrease the next day by Rs.300 to Rs.47,500 and this rate was maintained until the end of the month.
- Overall, a rise of 9.19% was seen at the end of the month with respect to silver prices as compared to the beginning.
|June 1st Rate||Rs.38,800 per kg|
|June 30th Rate||Rs.43,500 per kg|
|Highest Rate in June||Rs.43,500 per kg on 30th of June|
|Lowest Rate in June||Rs.38,500 per kg on the 2nd of June|
Jun'16 - Week 1 (1st to 4th)
- Silver traded at Rs.38,800 per kg on the 1st of June.
- Silver came down to Rs.38,500 on 2nd of June and the rates stayed the same on the 3rd of June.
- Silver closed the week at Rs.39,100 per kg on the 4th of June.
Jun'16 - Week 2 (5th to 11th)
- Silver traded at Rs.39,100 per kg on the 5th of June.
- Silver traded at Rs. 39,400 on the 8th of June.
- The price of silver hit Rs. 40,900 per kg on the 10th of June.
- Silver hit the highest for the week on the 11th of June at Rs.41,000 per kg.
Jun'16 - Week 3 (12th to 18th)
- Silver traded at Rs. 41,000 per kg on the 12th of June.
- The price of silver dropped down by Rs.200 per kg on the 13th as silver traded at Rs.40,800.
- Silver managed to pick up again as it hit Rs.42,100 per kg on the 16th of June.
- Silver traded at Rs.41,500 per kg on the 18th of June.
Jun'16 - Week 4 (19th to 25th)
- Silver traded at Rs.41,500 per kg on the 19th of June.
- On the 21st of June, silver traded at Rs.42,000 per kg.
- Silver dropped to Rs.41,200 per kg on the 23rd of June.
- Silver traded at Rs.42,000 on the 25th of June.
Jun'16 - Week 5 (26th to 30th)
- The price of silver remained unchanged and traded at Rs.42,000 per kg on the 26th of June.
- Silver witnessed an incline of Rs.400 and traded at Rs.42,400 per kg on the 28th of June.
- Silver closed the month at Rs.43,500 per kg on the 30th of June.
|1st May rate||Rs. 41, 900|
|31st May rate||Rs. 38, 500|
|Highest rate in May||Rs. 41, 900 on 1st and 2nd May|
|Lowest rate in May||Rs. 38, 500 on 30th and 31st May|
May ‘16 - Weeks 1 and 2 (1st to 8th)
- Silver prices in Bangalore began trading on a positive, thanks to demand from industry.
- Silver traded at Rs. 41, 900 on the 1st of May and ended the week at Rs. 41, 400, a slight drop in value.
- The uncertain stock market as well as the sinking Dollar drove investors to put their money in silver, pushing its price higher.
- Silver ended the week with a slight decline in its rate.
May '16 -Week 3 (9th to 15th)
- Silver rates fell slightly this week due to a decrease in demand and a recovery by the currency markets.
- Silver traded at Rs. 41, 200 on the 9th of May and at Rs. 40, 700 on the 15th of May.
- There was a rise in the price on 10th of May but prices fell marginally for the rest of the week.
- A resurgent Dollar kept silver prices low and a fall in demand from industrial units also contributed to the decline in price.
May '16 - Week 4 (16th to 22nd)
- Silver rates continued to drop as market speculation on a possible U.S. Federal Reserve interest rate increase gathered momentum, leading to a strengthening Dollar.
- The price of silver was Rs. 41, 200 on the 16th of May and Rs. 39, 700 on the 22nd of May.
- There was a slight increase in the rates on the 16th of May from the previous week but prices fell the next day and stayed low the rest of the week.
- U.S. housing market data released this week showed encouraging growth which brought up the Dollar, resulting in silver declining.
May '16 - Weeks 5 and 6 (23rd to 31st)
- Silver slumped further as markets reacted to news of positive growth in the U.S. job market, spelling favourable conditions for an increase in key interest rates by the Fed.
- Silver traded at Rs. 39, 600 on the 23rd of May and fell further to Rs. 38, 500 on the 31st of May.
- The Dollar strengthened, with the Rupee also gaining ground as investors pulled out of bullion and switched their bets to currency markets.
- The decline was also attributed to weak demand by investors and industry, as Fed officials continued to hint at a rate hike in the immediate future.
|April 1st Rate||Rs.36,800|
|April 30th Rate||Rs.41,900|
|Highest Rate in April||Rs.42,000 on the 29th of April|
|Lowest Rate in April||Rs.35,900 on the 3rd and 4th of April|
|Overall Performance||Gain / Positive|
Apr'16 - Weeks 1 & 2 (1st to 10th)
- Silver rates declined marginally during the initial ten trading days of the month.
- Prices were recorded at Rs.36,800 on the 1st of April and Rs.36,300 on the tenth day of the month.
- Despite marginal increases and decreases during the course of the first ten days of the month, there was decline of Rs.500 in prices mostly due to the fact that international and domestic trends were still firming.
Apr ‘16 - Week 3 (11th to 17th)
- Silver prices deviated from the trend and increased drastically during the third week of trading.
- Prices were recorded at Rs.36,900 on at the start of the week and Rs.38400 by the end of the seven-day period.
- Prices were on the up by Rs.1500 in seven days, marking a steep incline thanks to increase in demand and strong global cues amidst weakening of the dollar and high offtake.
Apr ‘16 - Week 4 (18th to 24th)
- The fourth week of April also witnessed gains in silver rates as the trend was maintained.
- Prices were recorded at Rs.38,500 on the first day of the week and Rs.40,300 on the last.
- The overall increase in price was Rs.1,800, making it the best week for trading in terms of gains.
Apr ‘16 - Week 5 (25th to 30th)
- Silver rates experienced a great start to the week with prices increasing day by day before falling marginally on the last day of the week.
- As the week progressed, prices increased steadily and hit a month-high of Rs.42,000 on the 29th of April, but declined by Rs.100 to Rs.41,900 on the last day of the month.
|1st March rate||Rs.36,400|
|31st March rate||Rs.36,400|
|Highest rate in March||Rs.37,700 from 21st to 24th|
|Lowest rate in March||Rs.36,300 on 29th and 30th|
|Overall performance||No change|
Mar'16 - Week 1 (1st to 6th)
- Silver prices were stable in Bangalore over the first week at Rs.36,400.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Silver rates were once again stable during the 2nd week as bullion trading came to a halt over protests from gold jewellers.
Mar'16 - Week 3 (14th to 20th)
- Prices continued to remain at Rs.36,400 over the course of 3rd week also.
Mar'16 - Week 4 (21st to 27th)
- Silver rates experienced fluctuation in the 4th week as prices started out at a high of Rs.37,700 and fell to Rs.36,700 on 25th where they remained for the rest of the days.
Mar'16 - Week 5 (28th to 31st)
- There was some more fluctuations in the final days of March.
- Prices were Rs.36,600 on 28th and Rs.36,400 on 31st.
|1st February rate||Rs.35,040|
|29th February rate||Rs.36,605|
|Highest rate in February||Rs.38,525 on 12th|
|Lowest rate in February||Rs.34,975 on 2nd|
Week 1 (1st to 7th)
- Silver gained value as February began.
- Prices were Rs.35,040 on 1st and Rs.36,690 on 7th.
- Silver rose by an overall margin of Rs.1,
Week 2 (8th to 14th)
- Silver rates were stable on the whole during the 2nd week.
- Rates were Rs.35,900 on 8th and Rs.37,800 on 14th.
- Silver prices rose by an overall margin of Rs.1,900 over the second week, with positive trading on all days except on 11th when prices marginally fell to Rs.37,100 fro Rs.37,200.
Week 3 (15th to 21th)
- Silver gained some more value in the 3rd week.
- Prices were Rs.37,100 on 15th and Rs.37,600 on 21st.
- Silver prices were stable within 37,100-37,600 range all through the week.
Week 4 (22nd to 29th)
- Silver prices were down during trading in the last week of February.
- Rates were Rs.37,400 on 22nd and Rs.36,400 on 29th.
- Silver prices were stable at Rs.37,400 till 25th before depreciating consecutively over the next 4 days to end the week Rs.1,000 lower.
4 th January rate
31 st January rate
Highest rate in January
Rs.35,400 on 30th and 31st
Lowest rate in January
Rs.33,100 on 4th, 5th and 13th
Jan '16 - Week 1 (4 th to 10 th )
Silver rates were positive in the first week of trading in 2016.
Prices were Rs.33,100 on 4th and Rs.33,600 on 10th.
Silver rates rose consistently till 8th to touch Rs.34,000.
Prices slid by Rs.400 on 9th to settle at Rs.33,600 for the rest of the week.
Jan '16 - Week 2 (11 th to 17 th )
Silver rates were stable on the whole during the 2nd week.
Rates were Rs.33,600 on 11th and Rs.33,700 on 17th.
Prices depreciated to Rs.33,100 by 13th before rallying to Rs.34,100 on 14th.
Silver lost Rs.400 to settle at Rs.33,700 for the week.
Jan '16 - Week 3 (18 th to 24 th )
Silver Rates were up in the 3rd week.
Prices were Rs.33,800 on 18th and Rs.34,300 on 24th.
Silver gained value on all days of the week to rise to Rs.34,300 by 23rd and settle there on 24th.
Jan '16 - Week 4 (25 th to 31 st )
Silver prices were up again in the last week of January.
Rates were Rs.34,200 on 25th and Rs.35,400 on 31st.
Silver rates appreciated to Rs.35,200 by 28th before dropping to Rs.35,100 on 29th.
Prices appreciated and stabilized at Rs.35,400 on 30th and 31st.
|Highest rate in December||Rs.34,700 on 1st|
|Lowest rate in December||Rs.33,100 on 18th|
- Silver prices were stable on the whole in the 1st week of December.
- Prices were Rs.34,700 on 1st and Rs.34,500 on 7th.
- Prices dropped by Rs.1,000 in the first 3 days to settle at Rs.33,700 by 3rd.
- Silver gained an overall value of Rs.800 in the next four days to end the week at almost the same level it began with.
- Silver Rates depreciated marginally during the 2nd week.
- Rates were Rs.34,100 on 8th and Rs.33,800 on 14th.
- Silver prices declined gradually in multiples of Rs.100 to Rs.33,800 on 14th from Rs.34,100 on 8th, except for 9th when prices rose by Rs.100 to Rs.34,200.
- Silver Rates were up in the 3rd week.
- Prices were Rs.33,300 on 15th and Rs.33,800 on 21st.
- Silver was stable in the range of Rs.33,100 and Rs.33,900 throughout the week with small gains and losses along the way.
- Silver prices depreciated in the final days of the month.
- Rates were Rs.33,900 on 22nd and Rs.33,300 on 31st.
- Silver rates were stable within Rs.300 in the range of Rs.33,800 to Rs.34,100 all through the 4th week.
- Prices dropped by Rs.500 on 29th to Rs.33,400 and again by Rs.100 on 31st to end the month at Rs.33,300.
|Highest rate in November||Rs.36,500 on 2nd and 3rd|
|Lowest rate in November||Rs.33,900 on 18th, 24th, 28th and 30th|
Nov '15 - Week 1 (1st to 7th)
- Silver prices depreciated in the 1st week of November.
- Prices were Rs.36,200 on 1st and Rs.35,100 on 7th.
- Rates appreciated slightly to Rs.36,500 on 2nd and 3rd before dropping to Rs.35,700 by 5th.
- Silver appreciated slightly to Rs.35,775 on 6th and dropped to Rs.35,100 on 7th.
Nov '15 - Week 2 (8th to 14th)
- Silver Rates depreciated again in the 2nd week of the month.
- Prices were Rs.35,100 on 8th and Rs.34,100 on 14th.
- Prices dropped to Rs.34,800 on 11th and dropped again on 13th and 14th to settle at Rs.34,100.
Nov '15 - Week 3 (15th to 21st)
- Silver Rates rose marginally in the 3rd week.
- Prices were Rs.34,100 on 15th and Rs.34,300 on 22nd.
- Prices oscillated between Rs.33,900 and Rs.34,500 for the whole week before settling at Rs.34,300 at end of the week.
Nov '15 - Nov '15 - Week 4 and Week 5 (22nd to 28th, 29th to 30th)
- Silver prices were down in the final days of the month.
- Prices were Rs.34,300 on 22nd and Rs.33,900 on 30th.
- Silver rates stabilized at Rs.34,100 by 26th before rising slightly to Rs.34,200 on 27th and settling at Rs.33,900 for the last 3 days.
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.
Silver Rate in Bangalore in 2015
2015 has seen an average price of around Rs.37,000 per kg of silver in Bangalore. Price per kg at the beginning of the year was Rs.35,968, which increased to Rs.40,572 by 21st January. Prices continued to stay upwards of Rs.37,500 over January and most of February, before falling to Rs.36,178 on 23rd February. The next peak was seen on 28th March at Rs.39,068. Prices once again fell to sub-37,000 on 9th April, before recovering to Rs.39,945 by 29th April. May saw price per kg of silver again breach the 40,000 mark, and went on to rally till Rs.43,538 on 18th May before gradually declining to Rs.39,762 on 16th June.
Also Check Silver Price in NearBy Cities of Bangalore
|Silver Rate in Chennai||Silver Rate in Hyderabad||Silver Rate in Mumbai|
|Silver Rate in Coimbatore||Silver Rate in Mysore||Silver Rate in Pondicherry|
|Also Know: Gold Rate in Bangalore|
Read more on Silver
- Interesting Facts About Silver
- Silver’s Industrial Demand
- Why Buy Silver?
- Silver Bars And Coins Investments
- Investment In Silver
- Factors Influencing Silver Price in COMEX
News About Silver Rate in Bangalore
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.
28th 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.
16th March 2016