Silver Rate in Bhopal

Daily Silver Rates
Date Silver (1 gram) Bar Silver (1 Kg)
19 Feb 2019 ₹ 43.5 ₹ 43,500
18 Feb 2019 ₹ 43.6 ₹ 43,600
17 Feb 2019 ₹ 43.4 ₹ 43,400
16 Feb 2019 ₹ 43.4 ₹ 43,400
15 Feb 2019 ₹ 42.8 ₹ 42,800
14 Feb 2019 ₹ 42.7 ₹ 42,700
13 Feb 2019 ₹ 42.8 ₹ 42,800
12 Feb 2019 ₹ 43.1 ₹ 43,100
11 Feb 2019 ₹ 43.3 ₹ 43,300
10 Feb 2019 ₹ 43.3 ₹ 43,300

*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 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.

Trend of Silver Rate in Bhopal for December 2018 (rates per gram)

Parameters Silver Price (per kg)
December 1 Rate Rs.38,500 per kg
December 31 Rate Rs.41,500 per kg
Highest Rate in December Rs.41,500 per gram on 31 December
Lowest Rate in December Rs.38,500 per gram on 1 December
Overall Monthly Performance Incline
Percentage Change 7.79%

Silver rate trend in Bhopal in December 2018:

  • As the US-China trade wars began, the markets fell giving rise to demand for silver and gold which led to the increase in prices in December.
  • The silver trade opened at Rs.38,500 per kg and increased throughout the month due to various geopolitical tensions all over the world.
  • The demand for bullion increased in the second half of the month due to the upcoming wedding season in the country. Due to this, local demand for silver and gold was at a rise.
  • Silver trade closed the month with a percentage incline of 7.79 at Rs.41,500 per kg on 31 December.

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

Parameters Silver price (per kg)
November 1 Rate Rs.40,900 per kg
November 30 Rate Rs.38,800 per kg
Highest Rate in November Rs.41,500 per kg from 2-4 and 6 November
Lowest Rate in November Rs.38,800 per kg on 30 November
Overall Monthly Performance Decline
Percentage Change -5.13%

Trend of Silver Rate in Bhopal for November 2018:

  • Trading opened for the month in Bhopal with silver trading at Rs.40,900 per kg on the 1st with strong domestic demand from local industries and coin makers amid positive global cues.
  • Silver prices surged to a monthly high of Rs.41,500 per kg on the 2nd with domestic jewellers and retailers ramping up purchases ahead of the upcoming festive season. However, prices fell over the next couple of days with the rallying dollar and rising stocks suppressing local demand.
  • Silver rate in Bhopal was recorded holding at Rs.39,700 per kg on the 15th with domestic investors gravitating towards the equities markets amid the dominating dollar and well-performing stock markets.
  • When trading concluded for the month, silver was priced at Rs.38,800 per kg on – the lowest recorded monthly figure – on the 31st with poor and subdued domestic demand. Bhopal recorded a decline of 5.13% in silver rates during the course of the month.

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

Parameters Silver price (per kg)
October 1 Rate Rs.41,100 per kg
October 31 Rate Rs.41,200 per kg
Highest Rate in October Rs.42,000 per kg on 3 October
Lowest Rate in October Rs.41,100 per kg on 1 and 2 October
Overall Monthly Performance Incline
Percentage Change 0.24%

October 2018 - Week 1 (1 - 7):

  • When trading began for the month, the white metal prices were recorded holding at Rs.41,100 per kg on the 1st with steady local demand for the metal.
  • With the US dollar dropping against apex currencies ahead of the US Federal Reserve meeting, silver rate in Bhopal surged to Rs.42,000 per kg on the 2nd.
  • The week came to an end with silver priced at Rs.41,900 per kg on the 7th, registering a incline of Rs.800 per kg in the last five days.

October 2018 - Week 2 (8 - 14):

  • The second week began with silver prices holding at Rs.41,500 per kg on the 8th with poor domestic demand from industries and coin makers amid the weak trend overseas.
  • With the US greenback rallying amid the bullish stock markets, demand dropped further and silver was recorded trading at Rs.41,200 per kg on the 9th.
  • Trading closed for the week with silver rates finishing at Rs.41,500 per kg on the 14th, the same rate the metal was trading at when the week commenced.

October 2018 - Week 3 (15 - 21):

  • Silver in Bhopal was recorded trading at Rs.41,900 per kg on the 15th when the week began with domestic markets recovering from the previous week’s losses.
  • Prices dropped to Rs.41,400 per kg on the 17th before surging to Rs.41,900 per kg the next couple of days on account of the tumbling equity markets and losing US dollar index.
  • Silver was priced at Rs.41,500 per kg on the 20th before dropping slightly to Rs.41,400 per kg on the 21st with demand capped by the recovering US dollar and well-performing stock markets.

October 2018 - Week 4 (22 - 28):

  • The penultimate week commenced with silver price in Bhopal holding at Rs.41,500 per kg on the 22nd with steady demand from industries and coin makers amid the firm market trend overseas.
  • Silver rates surged to Rs.41,900 per kg on the 24th as the rupee value dropped amid the highly volatile domestic markets.
  • Trading concluded for the week with the industrial metal priced at Rs.41,700 per kg on the 28th after an increase in the dollar value led to silver imports dropping domestically.

October 2018 - Week 5 (29 - 31):

  • The last week began with silver trading at Rs.41,600 per kg on the 29th with demand on the decline amid the strong greenback and rising equities.
  • Subdued demand coupled with unfavourable market cues led to prices dropping further during the week and silver was recorded trading at Rs.41,200 per kg on the 30th.
  • The month came to an end with the white metal priced at Rs.41,200 per kg on the 31st, registering an incline of 0.24% in silver prices in Bhopal during the course of the month.

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

Parameters Silver price (per kg)
September 1 Rate Rs.40,000 per kg
September 30 Rate Rs.41,200 per kg
Highest Rate in September Rs.41,200 per kg on 29 and 30 September
Lowest Rate in September Rs.39,500 per kg on 5, 7, 15-16 September
Overall Monthly Performance Incline
Percentage Change 3%

September 2018- Week 1 (1-8)

  • The price of silver in Bhopal stood at Rs.40,000 per kg as on 01 September 2018.
  • Though the price of the metal inclined on 2nd and traded at Rs.40,100 per kg, silver rates quickly declined due to poor demand and recorded a monthly low of Rs.39,500 per kg from 5th to 7th of the month.
  • Silver prices inclined towards the end of the week and closed at Rs.39,700 per kg as the ongoing trade war had a negative impact on the stock market and investors preferred investing in safe-haven assets.

September 2018- Week 2 (9-15)

  • As the demand for the metal remained stable, silver continued to trade at Rs.39,700 per kg on 9th September.
  • Silver rates in Bhopal inclined and traded at Rs.39,700 per kg from 11 to 13 of the month as the value of the US dollar fell compared to a basket of apex currencies.
  • As the US dollar rate continued to fluctuate, silver prices in Bhopal fell once again hit a monthly low of Rs.39,500 per kg on 15 September.

September 2018- Week 3 (16-22)

  • The rate of silver remained unaffected on 16 September and continued to trade at Rs.39,500 per kg.
  • During this week, the value of the US dollar fell further as the trade was tension continued and silver price inclined and traded at Rs.39,700 per kg on 17 September.
  • Meanwhile, the US dollar could not recover and silver rates further inclined and traded at Rs.40,100 per kg on 20 and 21 September before closing at Rs.40,300 per kg on the 22.

September 2018- Week 4 (23-30)

  • Silver prices stood unaffected and traded at Rs.40,300 per kg on 23 September in Bhopal before falling to Rs.40,000 per kg on 24 due to weak demand from both domestic market and from overseas.
  • As the demand for the metal fell, the price of silver fell to Rs.40,000 per kg on 24 September but quickly inclined to Rs.40,200 per kg on 25 and further inclined to Rs.40,800 per kg on 26 September.
  • During the end of the month, silver prices surged further and hit a monthly high of Rs.41,200 per kg on 29 and 30 September and recorded and overall incline of 3% for the month.

Trend of Silver Rate in Bhopal for August 2018 (rates per gram)

Parameters Silver price (per kg)
August 1 Rate Rs.41,400 per kg
August 31 Rate Rs.40,300 per kg
Highest Rate in August Rs.41,400 per kg on 1 and 9 August
Lowest Rate in August Rs.39,800 per kg on 24 August
Overall Monthly Performance Decline
Percentage Change -2.65%

August 2018 - Week 1 (1 - 05):

  • On the first day of the month, the highest silver rate for the month of August was recorded in Bhopal when the metal was traded at Rs.41,400 per kg.
  • Though silver prices fell by Rs.300 per kg on 2 August due to muted domestic demand, the prices quickly picked up on 4 August and traded at Rs.41,300 per kg. The increase in the demand for the metal led to the incline in silver prices.
  • At the end of the first week of August, silver continued to trade at Rs.41,300 per kg.

August 2018 - Week 2 (6 - 12):

  • Silver prices remained unchanged on the first day of week 2. The metal continued to trade at Rs.41,300 per kg on 6 August in Bhopal.
  • Silver prices slightly increased and stood at Rs.41,400 per kg on 9 August as the value of the US dollar declined compared to other currencies. On this day, the highest silver rate for the month of August in Bhopal was recorded again.
  • As the demand for the metal fell sharply, silver prices quickly fell on 10 August and traded at Rs.41,100 per kg. Throughout the week, demand for the metal played a huge role in determining silver prices in Bhopal.
  • Week 2 closed with silver dropping in value to Rs.41,200 per kg.

August 2018 - Week 3 (13 - 19):

  • On 13 August, silver prices in Bhopal stood at Rs.41,200 per kg.
  • During the third week of August, US released the employment data which indicated positive developments for the nation. This increased the value of the US dollar causing silver prices in Bhopal decline.
  • On 16 August, silver prices fell and the metal traded at Rs.39,900 per kg.
  • A rise in demand for the metal was observed on the last day of week 3, thereby increasing the price of silver to Rs.40,000 per kg.
  • Silver traded at Rs.40,000 per kg from 17 to 19 August.

August 2018 - Week 4 (20 - 26):

  • Due to steady industrial demand, the white metal continued to trade at Rs.40,000 per kg on 20 August in Bhopal.
  • After remaining steady for one day, silver prices in Bhopal increased by Rs.100 per kg and traded at Rs.40,100 per kg on 22 August.
  • On 23 August, the price of silver in Bhopal fell as the value of the US dollar further rose. On this day, silver was traded at Rs.39,900 per kg, a Rs.100 decline in value.
  • At the end of week 4, silver experienced a surge in its price as it was recorded to be valued at Rs.40,200 per kg.

August 2018 - Week 5 (27 - 31):

  • On 27 August, the precious metal was sold at Rs.40,200 per kg in Bhopal.
  • Silver then increased in value as domestic demand from local jewelers and industries for the metal rose.
  • As the value of the US dollar started recovering, silver prices fell marginally during the last two days of the month and closed at Rs.40,300 per kg.

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

Parameters Silver price (per kg)
July 1 Rate Rs.42,800 per kg
July 31 Rate Rs.41,400 per kg
Highest Rate in July Rs.42,900 per kg from 9 - 10 July
Lowest Rate in July Rs.41,200 per kg from 28 - 29 July
Overall Monthly Performance Decrease
Percentage Change -3.27%

July 2018- Week 1 (1-10)

  • Silver rates in Bhopal for the month of July commenced at Rs.42,800 per kg.
  • As the demand for the metal from the industrial units fell on 3 July 2018, the price of silver fell to Rs.42,400 per kg.
  • Though silver rates slightly increased in the following days and traded at Rs.42,800, it could not sustain due to lack of stable demand from the local coin makers and industrial units.
  • On 9 - 10 of July, the highest silver price for the month of July was recorded when the metal was sold at Rs.42,900 per kg.
  • Though the price of silver increased during the end of the week, it was marginal and was not significant.

July 2018- Week 2 (11-17)

  • On the first day of week 2, silver rates dropped by Rs.300 per kg and traded at Rs.42,600 on 11 July. The drop in the silver rate was mainly caused due to the weak demand for the metal.
  • As the industrial demand for silver dipped further during the second week of July in Bhopal, stood at roughly around Rs.42,200 per kg from 12 - 14 July.
  • A slight increase of Rs.100 per kg was noted on 16 July 2018 when silver was traded at Rs.42,300 per kg as the demand for the metal stabilized.
  • On 17 July, the end of Week 2, the price of silver in Bhopal was recorded at Rs.42,100 per kg.

July 2018- Week 3 (18 - 24)

  • On 18 July 2018, silver prices fell further and traded at s.41,700 per kg. Throughout the month of July, silver rates in Bhopal were mainly affected by poor demand. When the demand picked up, the price of silver increased and vice versa.
  • On 20 July, silver prices dropped to Rs.41,300 per kg as the dollar value in comparison with other currencies rose.
  • However, demand for the metal increased in the following few days, which led to the increment in the silver rate. The price of silver in Bhopal on 21 - 22 July stood at Rs.41,700 per kg.
  • Silver prices did not remain stable as the price of the metal then declined towards the end of the week in Bhopal as it stood at Rs.41,400 per kg on 24 July.

July 2018- Week 4 (25 - 31)

  • Steady industrial demand for the metal caused the price of silver to drop to Rs.41,500 per kg on 25 July.
  • Due to the decline of dollar value, silver prices spiked on 26 July to Rs.41,800 per kg. However, demand for the metal dropped which naturally caused the decline in silver prices over the next few days.
  • As on 28 - 29 July, the price of silver stood at Rs.41,200 per kg.
  • By the end of the month, the price of silver increased as dollar rates dropped slightly. The metal stood at Rs.41,400 on 30 - 31 July.

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.

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 price of silver 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.

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