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Silver Rate in the Most Popular Indian Cities
Silver Rate Today Chennai | Silver Price in Coimbatore | Silver Price Today Ahmedabad | Silver Price In Dehradun |
Silver Price in Kolkata | Silver Rate Today Bangalore | Silver Rate Today Hyderabad |
Silver Price in Bhopal
India is the largest importer of silver in the world. Not surprisingly, most consumers in Bhopal hold silver in high regard. Many investors view the white precious metal as a surrogate for the yellow metal, especially when there are restrictions on the gold trade. Non-traditional and small investors, therefore, view silver as a safe haven in terms of investment.
According to experts, most consumers gravitate towards conventional forms of investment such as precious metals and more so towards silver which is more affordable than the yellow metal. Silver is used in a variety of industries apart from fashionable and trendy silverware and articles which are commonplace. Silver rate in Bhopal depends on various international and national developments such as inflation, investment flow and correction in the price of gold among other factors.
Also Check Silver Price in NearBy Cities of Bhopal
Also Know: Gold Rate in Bhopal
Trend of Silver Rate in Bhopal for April 2022 (rates per kg)
Parameters | Silver Price (per kg) |
April 1 Rate | Rs.71,700 per kg |
April 30 Rate | Rs.69,500 per kg |
Highest Rate in April | Rs.75,200 on 18 April |
Lowest Rate in April | Rs.68,800 per kg on 28 April |
Overall Monthly Performance | Decline |
Percentage Change | 3.06% |
- The silver price in Bhopal stood at Rs.71,700 per kg on the first day of the month of April 2022.
- The highest rate of the metal was recorded on 18 April where the price was Rs.75,200 per kg. The lowest rate of silver during the month was recorded on 28 April 2022. On this day, a kilogram of the metal had been traded at the rate of Rs.68,800 per kg.
- During the month, the price of silver witnessed an overall incline decline in its performance the percentage change standing 3.06%.
Trend of Silver Rate in Bhopal for March 2022 (rates per kg)
Parameters | Silver Price (per kg) |
March 1 Rate | Rs.70,000 per kg |
March 28 Rate | Rs.71,300 per kg |
Highest Rate in March | Rs.77,600 on 9 March |
Lowest Rate in March | Rs.70,000 per kg on 1 March |
Overall Monthly Performance | Incline |
Percentage Change | 1.85% |
- The silver price in Bhopal stood at Rs.70,000 per kg on the first day of the month of March 2022.
- The highest rate of the metal was recorded on 9 March where the price was Rs.71,300 per kg. The lowest rate of silver during the month was recorded on 1 March 2022. On this day, a kilogram of the metal had been traded at the rate of Rs.70,000 per kg.
- During the month, the price of silver witnessed an overall incline in its performance the percentage change standing at 1.85%.
Trend of Silver Rate in Bhopal for February 2022 (rates per kg)
Parameters | Silver Price (per kg) |
February 1 Rate | Rs.65,300 per kg |
February 28 Rate | Rs.70,100 per kg |
Highest Rate in February | Rs.70,600 per kg on 24 February |
Lowest Rate in February | Rs.64,900 per kg on 7 February |
Overall Monthly Performance | Incline |
Percentage Change | 7.35% |
- Silver price in Bhopal opened the month of February at the rate of Rs.65,300 per kg.
- The precious white metal recorded the highest price on the 24th of February wherein a kilogram of silver was being traded at the rate of Rs.70,600. The lowest price of the valuable metal was recorded on the 7th of February when it stood at the rate of Rs.64,900 per kg.
- Silver closed the month at the rate of Rs.70,100 per kg. in Bhopal. The overall performance of silver witnessed an inclining trend with the percentage change standing at 7.35%.
Trend of Silver Rate in Bhopal for January 2022 (rates per kg)
Parameters | Silver Price (per kg) |
January 1 Rate | Rs.66,600 per kg |
January 31 Rate | Rs.65,400 per kg |
Highest Rate in January | Rs.69,300 per kg on 21 January |
Lowest Rate in January | Rs.64,300 per kg on 10 January |
Overall Monthly Performance | Decline |
Percentage Change | -1.80% |
- Silver prices in Bhopal started off at Rs.66,600 per kg and soon dipped to the lowest price point of Rs.64,300 per kg on 10 January.
- However, silver rates in Bhopal started fluctuating thereafter to peak on 21 January at the highest price point which was Rs.69,300 per kg.
- However, due to the continued fluctuation in silver prices in Bhopal, the final gold rate for January on the 31st was Rs.65,400 per kg.
- The overall trend in silver prices in Bhopal was on a decline with a percentage change of –1.80%.
Trend of Silver Rate in Bhopal for December 2021 (rates per kg)
Parameters | Silver Price (per kg) |
December 1 Rate | Rs.66,300 per kg |
December 31 Rate | Rs.66,000 per kg |
Highest Rate in December | Rs.66,300 on 1 December, 28 December, and 29 December |
Lowest Rate in December | Rs.64,600 per kg on 15 December |
Overall Monthly Performance | Decline |
Percentage Change | -0.45% |
- Silver rates opened in Bhopal for the month of December at Rs.66,300 per kg. This was also the highest rate during this month and repeated itself on 28 and 29 December.
- After the first week, silver prices in Bhopal started declining to hit the lowest price point on 15 December at Rs.64,600 per kg.
- By the last day of the month, silver rates in the city closed at Rs.66,000 per kg.
- The overall performance of silver was on a decline in December in Bhopal with a percentage change of –0.45%.
Trend of Silver Rate in Bhopal for November 2021 (rates per kg)
Parameters | Silver Price (per kg) |
Rate on 1 November 2021 | Rs.68,700 per kg |
Rate on 30 November 2021 | Rs.66,500 per kg |
Highest Rate in November | Rs.71,700 per kg on 13 and 14 November |
Lowest Rate in November | Rs.66,500 per kg on 30 November |
Overall Monthly Performance | Decline |
Percentage Change | -3.20% |
- Silver prices in Bhopal in November started off at Rs.68,700 per kg and soon started increasing to hit the highest price point of Rs.71,700 per kg which stayed the same for two consecutive days, 13 and 14 November.
- However, silver rates in Bhopal started fluctuating after that point to hit the lowest rate of Rs.66,500 per kg by the end of the month.
- The overall performance of silver in Bhopal in November was on a decline with a percentage change of –3.20%.
Silver rates in Bhopal
The rate of silver in Bhopal has been plummeting since January 2015. The precious white metal is pegged at Rs.34,415 per kg, a -5.1% decrease from Rs.36,265 in the month of November. The white precious metal which was pegged at Rs.39,985 in January plummeted in the following months of February, March and April at Rs.37436, Rs.36424 and Rs.36340 respectively. The silver price continued the downward trend in June and July barring mini rallies. The white precious metal which was pegged at Rs.35476 towards the end of August registered a -1.2% decrease towards the end of September at Rs.35049.
Silver as an investment in Bhopal
Many view the white precious metal as a safe haven in terms of investment. Silver is regarded as a store of wealth given its intrinsic value. There is a view that in the event of a government default, the price of the yellow metal may shoot up. During times of economic instability, most consumers turn to traditional investment forms such as silver.
Physical silver: Most consumers buy silver in the form of jewellery or artefacts. There are several prominent stores across Bhopal which offer a wide range of silverware, coins and jewellery including designer silver jewellery with intricate kundan work. Silver bars and coins are also sought.
Silver contracts: Silver is traded in Multi Commodity Exchange (MCX) and National Commodity & Derivatives Exchange (NCDEX). Silver micro is traded in 1 kg. The initial margin is 5%. Customers should bear various charges such as brokerage, exchange levy and stamp duty among others.
FAQs on Silver Rate in Bhopal
- Is silver a good investment in Bhopal?
- What are the different ways to invest in silver?
- Can I purchase silver from banks?
- When is the best time to purchase silver?
- Should I purchase silver bars or coins?
Yes. Silver is a good investment option and its price is less compared to gold. It is used in making jewellery, silverware, mirrors, batteries, electrical wiring, and more.
You can invest in silver in multiple ways such as silver jewellery, coins, bars, etc.
Yes. You can purchase silver bars, coins, and more from banks.
The best time to purchase silver is when the rates are low. For this, you will need to check silver prices on a daily basis in order to analyse the price trend.
If you want to make a small investment, you can purchase silver coins. However, silver bars are a preferred choice to receive maximum returns if you want to purchase bulk stocks.