Silver Rate in Bhopal

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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 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%

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.

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

Parameters	Silver price (per kg)
June 1 Rate	Rs.42,800 per kg
June 30 Rate	Rs.42,800 per kg
Highest Rate in June	Rs.45,000 per kg on 15 June
Lowest Rate in June	Rs.42,600 per kg from 2- 5 June
Overall Monthly Performance	Stable
Percentage Change	0.00%

June 2018- Week 1 (1-10)

• Silver price in Bhopal showed signs of volatility, with the metal opening the week at Rs.42,800 per kg on stable demand from industrial units.
• The recent rally by the dollar ahead of the summit between the United States and North Korea caused some turbulence on the commodity exchanges, as silver rate in Bhopal fell to Rs.42,600 per kg on 2 June.
• Local industrial offtake fluctuate based on the dollar rate, as the rupee fell heavily against the dollar for most of the week.
• Prices were stable for the remainder of the week, as investor sentiment moved towards bullion, as silver ended the week priced at Rs.43,700 per kg on 10 June.

June 2018- Week 2 (11-17)

• The positive market trend continued in spite of the dollar gaining on other currencies, as silver opened the second week priced at Rs.43,900 per kg on 11 June.
• Industrial offtake kept prices stable, as both local as well as overseas industrial units increased order volumes ahead of a possible trade war.
• Silver price in Bhopal jumped to Rs.44,000 per kg on 12 June before surging to Rs.45,000 per kg on 15 June on sharp dips in the dollar rate.
• The fear of a global trade war led to renewed pressure on the dollar as investors looked to bullion as a safe haven.
• Prices stabilised towards the end of the week, with silver trading at Rs.44,300 per kg on 17 June.

June 2018- Week 3 (18-24)

• Silver in Bhopal was priced at Rs.43,400 per kg on 18 June as prices fluctuated following the rapid drop in the dollar rate last week.
• Demand for bullion was on the decline as equity markets recovered amidst positive investor sentiment, with industrial offtake falling steadily.
• Silver price in Bhopal fell to Rs.42,900 per kg on 21 June as investors looked to short sell bullion, which affected silver sales as well.
• The continued drop in demand for silver from industrial units led to stagnating sales locally, though overseas demand kept pace with previous sessions.
• There was some fluctuation in prices towards the end of the week, though silver did not see much change in price.

June 2018- Week 4 (25-30)

• The last week of June saw silver price in Bhopal decline steadily due to poor demand from industrial units, resulting in silver prices dropping steadily.
• The industrial metal was priced at Rs.43,200 per kg when trading opened on 25 June, with local coin makers reducing offtake due to the rising dollar rate.
• Stable local equity markets coupled with overseas trends led to silver prices falling to Rs.43,100 per kg on 26 June.
• The Federal Reserve meeting and a possible interest rate hike led to increased pressure on bullion, as silver prices tumbled to Rs.42,800 per kg on 29 June.
• There was no change in price as the month ended, with silver remaining unchanged from the month’s opening price.

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

Parameters	Silver price (per kg)
May 1 Rate	Rs.42,000 per kg
May 31 Rate	Rs.43,100 per kg
Highest Rate in May	Rs.43,800 per kg on 25 May
Lowest Rate in May	Rs.42,000 per kg on 1 May
Overall Monthly Performance	Incline
Percentage Change	2.61%

May 2018- Week 1 (1st - 6th)

• The month began with silver priced at Rs.42,000 per kg in Bhopal as demand for silver was stable as a result of steady orders from industrial units.
• Political conditions such as the impending trade wars between the U.S., and China as well as the U.S.-North Korea tensions led to equity markets performing poorly, which led to higher demand for safe-haven assets like bullion.
• Silver price in Bhopal rose to Rs.42,600 per kg on 3 May before declining orders led to a marginal drop in prices.
• A rise in the dollar rate as well as stable economic markets locally led to silver rate in Bhopal falling to Rs.41,100 per kg on 6 May.

May 2018- Week 2 (7th - 13th)

• The second week saw demand for silver rise marginally due to wildly fluctuating equity markets and currency markets.
• The week began with silver trading at Rs.43,200 per kg on 7 May due to steady demand from industrial as well as retail sectors.
• Tensions between the U.S. and North Korea dominated equity market predictions and led to profit-booking by some investors.
• Demand rose in spite of a steady dollar ahead for talks between the United States and North Korea, which also had Asian stocks trading high.
• Silver price in Bhopal continued to rise for the rest of the week as currencies also plunged.
• Local demand was steady but demand vagaries led to the industrial metal trading at Rs.43,600 per kg on 13 May.

May 2018- Week 3 (14th - 20th)

• Prices rose to Rs.43,600 per kg as the third week began as investors assessed the impact of the upcoming summit between the U.S. and North Korea.
• Overseas demand for the industrial metal was quite high as markets were low and the dollar rate was poor, resulting in increased demand for bullion.
• Silver fell to to Rs.43,000 per kg on 16 May as local industrial demand increased on positive market cues and futures buying.
• Silver price in Bhopal were high for most of the week as international cues bolstered local demand and kept prices steady.
• A slight dip in price was recorded towards the end of the week as the dollar rate began to recover and equity markets also made some gains.
• Silver ended the week priced at Rs.43,100 per kg on 20 May.

May 2018- Week 4 (21st - 27th)

• Demand for silver was steady but there was a drop in the industrial metal’s value over the fourth week of May.
• The outcome of the Fed Reserve meeting and U.S. industrial data due to be released led to investors being more bullish as interest in bullion fell.
• Silver opened the week at Rs.43,100 per kg on 20 May after an early rally but prices dropped on poor demand for the rest of the week.
• As tensions between China and the U.S. appeared to be easing, equity markets and the dollar rose, leading to lower imports of silver.
• Silver price in Bhopal rose to Rs.43,500 per kg on 23 May before continuing to rise on positive demand cues

May 2018- Week 5 (28th - 31st)

• The last week of May saw demand for the industrial metal on the decline due to lower investor interest in bullion ahead of the much anticipated North Korea- U.S. summit.
• Silver opened the week at Rs.43,000 per kg on 28 May before prices dropped to Rs.42,900 per kg on 30 May.
• Poor local demand also contributed to the drop in price, though silver recovered marginally to end the month at Rs.43,100 per kg.

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

Parameters	Silver price (per kg)
April 1 Rate	Rs.41,400 per kg
April 30 Rate	Rs.42,300 per kg
Highest Rate in April	Rs.43,800 per kg on 20 and 22 April
Lowest Rate in April	Rs.41,000 per kg on 5 April
Overall Monthly Performance	Incline
Percentage Change	2.17%

April 2018- Week 1 (1st - 7th)

• Silver opened the week trading at Rs.41,400 per kg as the week began as increased demand from industrial units.
• A low U.S. Dollar rate coupled with increased demand from investors due to ongoing tensions between the U.S. and China led to prices rising to Rs.41,600 per kg on 3 April.
• Local demand began to fall slightly as the week progressed as overseas demand declined marginally, resulting in silver trading at Rs.41,000 per kg on 5 April.
• Increased tariffs on China and positive U.S. non-farm payrolls data led to the dollar index gaining, as demand for silver fell both domestically as well as internationally.
• The week ended with silver priced at Rs.41,200 per kg on 7 April on fluctuating market cues.

April 2018- Week 2 (8th - 15th)

• The second week saw silver price in Bhopal increase as political tensions and market fluctuations dominated demand.
• The industrial metal was priced at Rs.41,200 per kg on 8 April, with the price remaining unchanged due to stagnant demand from Asian industry.
• Global demand did not see much change as the week began but increased as investors sought safe-haven assets in an attempt to hedge losses from equity markets.
• Prices rose to Rs.41,700 per kg on 11 April following the renewal of tensions with China.
• Prices jumped to Rs.42,000 per kg on 12 April following news of the chemical attack by Syrian government forces.
• Silver rate in Bhopal regularised as the week ended, with the metal trading at Rs.41,900 per kg on 15 April.

April 2018- Week 3 (16th - 22nd)

• Renewed tensions over the U.S.-led intervention in Syria led to  equity markets and currencies falling across the globe, with investors rushing to invest in bullion.
• Silver price in Bhopal climbed to Rs.42,100 per kg on 16 April as investors assessed the impact of the airstrikes on economic growth.
• Local demand for silver was constant, with the industria; metal’s price rising to  Rs.42,500 per kg on 18 April as coin makers also increased orders.
• The continuing trade tensions between the U.S. and China resulted market turbulence and an increase in bullion investment.
• Silver prices jumped to Rs.43,700 per kg on 19 April as the dollar tumbled and equity markets dropped sharply.
• The end of the week saw a continued rise in rates as silver traded at Rs.43,800 per kg on 22 April.

April 2018- Week 4 (23rd - 30th)

• Demand for silver fell slightly as global equity markets recovered from their earlier losses and global currencies also performed well.
• Silver opened the week at Rs.43,700 per kg on 23 April prices fell sharply as local industrial demand fell on low orders.
• Favourable economic data from the U.S. and the prospect of talks reduced tensions between the U.S. and China, which stabilised markets.
• Silver rate in Bhopal fell throughout the week to end the month at Rs.42,300 per kg on 30 April.

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

Parameters	Silver price (per kg)
March 1 Rate	Rs.41,100 per kg
March 31 Rate	Rs.41,400 per kg
Highest Rate in March	Rs.41,900 per kg on 7 March
Lowest Rate in March	Rs.41,000 per kg on 19 and 21 March
Overall Monthly Performance	Incline
Percentage Change	0.72%

March 2018 - Week 1 (1st - 4th):

• On the first day of March, silver traded at Rs.41,100 per kg in Bhopal and the price continued to increase towards the end of the week.
• Global demand for the white metal was on rise on the second day of the week. The price of silver thus rose to Rs.41,400 per kg.
• The weakening of US dollar on the third day further surged silver price in Bhopal by Rs.500 per kg.
• The week ended with the white metal trading at Rs.41,600 per kg, owing to the steady demand from global markets.

March 2018 - Week 2 (5th - 11th):

• Silver rate in Bhopal during the second week of March had been fluctuating throughout the 7-day period.
• The week opened with the white metal trading at Rs.41,700 per kg, up by Rs.100 per kg from the previous week.
• On 6th of March, there was a sudden drop in the metal price by Rs.300 per kg to Rs.41,400 per kg.
• The next day saw the silver in Bhopal trading at Rs.41,900, up by Rs.500 from the previous day. The sudden rise was attributed to the demand from local industries.
• During the next two days of the week, the price of the white metal was on decline. On 8th of March, the rate fell to Rs.41,500 per kg and on the next day, it further declined to Rs.41,300 per kg due to reduced demand.
• However, the week ended on a positive note, with the price of the metal bouncing back to Rs.41,600 per kg.

March 2018 - Week 3 (12th - 18th):

• Silver trading in Bhopal during the third week of March opened with the metal priced at Rs.41,600 per kg on 12th of March.
• Due to poor demand, the rates dropped by Rs.200 per kg on the following day, i.e., on 13th March.
• On the very next day, due to the increased demand from the local market, the silver price in Bhopal rose to Rs.41,700 per kg before dropping to Rs.41,500 per kg on 15th March.
• The price of the white metal then saw a drop to Rs.41,300 per kg on the next day.
• The week ended with the prices further declining to Rs.41,100 per kg over the last two days.

March 2018 - Week 4 (19th - 25th):

• The fourth week of March saw the prices of silver recovering from the previous week. The price of the metal was on the rise throughout the week.
• The week opened on 19th March with silver trading at Rs.41,000 per kg, continuing the previous week’s closing price.
• From Day 2 of the week, the silver price in Bhopal were up beginning with Rs.41,200 per kg on the 20th, Rs.41,500 per kg on 22nd and Rs.41,600 per kg on 23rd. However, the 21st saw a drop in price by Rs.100 per kg, before it shot up by Rs.400 per kg on the immediate day.
• For the last two days of the week, the 24th and 25th, silver rate in Bhopal remained the same at Rs.41,600 per kg due to steady demand.
• The week thus ended positively with the price of the white metal recovering from the previous week’s loss.

March 2018 - Week 5 (26th - 31st):

• During most of the days in the final week of March, silver rate in Bhopal remained steady due to stable demand.
• The week began with silver in Bhopal continuing to trade at the previous day’s price which is Rs.41,600 per kg.
• The second day, the 27th, saw a rise in the metal price by Rs.200 per kg, recording a new price of Rs.41,800 before declining to Rs.41,500 per kg on the following day.
• With a steady decline in demand for the product, the silver price in Bhopal further plummeted to Rs.41,400 per kg on the 29th.
• Over the last two days of the week, silver price in Bhopal remained the same with no change in demand.
• Looking at the overall trend of silver prices across the month, the rates went up by 0.72% on an average.

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

Parameters	Silver price (per kg)
Silver Rate on 1st February 2018	Rs.42,600 per kg
Silver Rate on 28th February 2018	Rs.41,200 per kg
Highest Rate in February	Rs.42,600 per kg on 1 and 2 February
Lowest Rate in February	Rs.40,600 per gram on 10 and 11 February
Overall Monthly Performance	Decline
Percentage Change	-3.28%

February 2018 - Week 1 (1 - 4):

• The month began in Bhopal with the industrial metal trading at Rs.42,600 per kg - the highest recorded monthly figure - on the 1st amid the weakened US dollar and poorly performing equity markets.
• Thanks to steady domestic demand from industrial units and coin manufacturers amid the strong trends overseas, silver price in Bhopal remained unchanged at Rs.42,600 per kg on the 2nd.
• With the US dollar recovering from previous days’ losses following the release of the highly anticipated US employment data, silver rate in Bhopal plunged to Rs.41,700 per kg on the 3rd.
• The week came to an end with silver prices holding steady at Rs.41,700 per kg on the 4th owing to a subdued but steady demand amid the firm overseas trends.

February 2018 - Week 2 (5 - 11):

• The second week began with silver trading relatively lower at Rs.41,500 per kg on the 5th amid the strengthening US dollar and equities market.
• The dollar, however, lost against a basket of other emerging currencies and led to silver price in Bhopal rising to Rs.41,900 per kg on the 6th.
• Rates dropped to Rs.41,500 per kg on the 7th before plunging further to Rs.40,800 per kg on the 8th after the US dollar and equities regained lost ground in the international market.
• The 9th witnessed silver prices surging to Rs.41,000 per kg which dropped again to Rs.40,600 per kg - lowest recorded monthly figure - on the 10th after the rising US dollar led to a decline in domestic demand for the metal.
• The week concluded with silver rate in Bhopal holding firm at Rs.40,600 per kg on the 11th amid global cues.

February 2018 - Week 3 (12 -18):

• Silver price in Bhopal were greatly influenced by the US inflation data released during the week.
• The week began with the white metal priced at Rs.40,900 per kg on the 12th.
• With markets refraining from making purchases ahead of the US inflation data, the US dollar dropped. This led to silver being priced at Rs.41,300 per kg on the 13th.
• The 14th saw silver rates rising to Rs.41,400 per kg before surging further to Rs.41,800 per kg on the 15th after the dollar weakened with investors eyeing on the inflation data for clues on the pace of interest rate hikes during the year.
• With the US dollar index touching near three-year lows in the global market, prices stabilised at Rs.41,700 per kg on the 16th.
• With investors gravitating on safe-haven assets to hedge against inflation concerns, demand for the white metal rose. This led to silver rate in Bhopal holding steady at Rs.41,700 per kg until the 18th.

February 2018 - Week 4 (19 - 25):

• The week witnessed silver price in Bhopal dropping initially before picking up amid the weakening US dollar and equity markets.
• The week commenced with the white metal prices holding at Rs.41,600 per kg on the 19th.
• With the US dollar regaining lost ground from the previous week’s rally of losses, silver rates plunged to Rs.41,200 per kg on the 20th.
• Prices remained untouched at Rs.41,200 per kg the next day before rising to Rs.41,400 per kg on the 22nd following a slight incline in demand from local industries and coin makers.
• The 23rd saw silver rate in Bhopal surging further to Rs.41,600 per kg after demand remained strong despite the well-performing dollar and equities.
• On the 24th, prices dropped marginally to Rs.41,500 per kg with the US dollar gaining against a basket of other major emerging currencies. Steady demand coupled with firm trends overseas resulted in the metal trading at the same rate until the end of the week.

February 2018 - Week 5 (26 - 28):

• The final week of trading in Bhopal began with the industrial metal priced at Rs.41,600 per kg on the 26th after investors and traders remained cautious ahead of the Federal Reserve Chairman Jerome Powell’s first congressional testimony.
• Silver rate in Bhopal rose to Rs.41,700 per kg on the 27th with the US dollar losing against a basket of other emerging currencies in the international markets.
• The Fed Chairman’s promise to save the country from an economic crisis while sticking to the current plan of interest rate hikes resulted in the US dollar strengthening. This led to silver being priced at Rs.41,200 per kg on the 31st.
• Silver trade in Bhopal recorded a decline of 3.28% in silver prices during the course of the month.

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

Parameters	Silver price (per kg)
Silver rate on 1st January 2018	Rs.38,925 per kg
Silver rate on 31st January 2018	Rs.42,200 per kg
Highest Rate in January	Rs.42,700 per kg on 29 January
Lowest Rate in January	Rs.38,925 per kg on 1, 2 and 10 January
Overall Monthly Performance	Incline
Percentage Change	8.41%

January 2018 - Week 1 (1st - 7th):

• When trading began in Bhopal, silver was recorded trading at Rs.38,925 per kg on the 1st This was also the lowest recorded monthly figure in the city.
• Thanks to steady demand from local coin makers and industrial units, prices remained untouched at Rs.38,925 per kg the next day.
• Silver rate in Bhopal surged to Rs.39,110 per kg on the 3rd before plunging to Rs.38,995 per kg on the 4th after demand for the metal declined amid the strengthening US dollar.
• However, demand picked up with the dollar index losing against a basket of other emerging currencies towards the end of the week.
• Silver prices rose to Rs.39,265 per kg on the 5th which rose further to Rs.39,355 per kg on the 6th following an increase in demand amid the positive trends overseas.
• Steady demand coupled with strong global cues resulted in silver rate in Bhopal remaining untouched at Rs.39,355 per kg for the remainder of the week.

January 2018 - Week 2 (8th - 14th):

• Silver prices were recorded holding steady at Rs.39,355 per kg on the 8th when the week began amid positive overseas trends.
• However, with the US dollar gaining against other apex currencies in the global markets, demand for the metal declined. This led to the metal being priced Rs.39,115 per kg and Rs.38,925 per kg on the 9th and the 10th respectively.
• However, with demand picking up after an increase in offtake by industries and coin makers, silver price in Bhopal surged to Rs.39,110 per kg on the 11th.
• Strong global cues coupled with steady domestic demand resulted in the white metal prices remaining untouched at Rs.39,110 per kg the following day.
• Silver rate in Bhopal rose to Rs.39,265 per kg on the 13th which surged further to Rs.39,355 per kg on the 14th due to a decline in the US dollar index value in the international markets.

January 2018 - Week 3 (15th -21st):

• The third week saw silver prices rising initially before plummeting on poor global cues towards the end of the week.
• Silver was recorded trading relatively higher at Rs.39,680 per kg on the 15th as demand for the metal picked up amid the weakening equities and the US greenback.
• Silver price in Bhopal dropped slightly to Rs.39,670 per kg on the 16th and continued to remain unchanged at the same rate the next day.
• The US dollar, however, regained lost ground and pushed demand lower for the industrial metal. This led to silver being priced at Rs.39,265 per kg on the 18th.
• Though the white metal prices dropped to Rs.39,115 per kg on the 19th, silver rate in Bhopal rebounded to Rs.39,265 per kg on the 20th following an uncharacteristic increase in demand in the domestic markets.
• Steady demand from coin manufacturers and industries despite the weak global cues resulted in the industrial metal being priced at Rs.39,265 per kg for the rest of the week.

January 2018 - Week 4 (22nd -28th):

• Strong safe-haven demand compounded by positive global cues resulted in silver rates rising significantly during the week.
• When trading began for the week, the industrial metal was priced at Rs.39,265 per kg on the 22nd.
• Steady domestic demand from local coin makers and industrial units amid the firm trends overseas resulted in the metal prices holding steady at Rs.39,265 per kg until the 24th.
• The 25th, however, saw silver rate in Bhopal surging to Rs.40,285 per kg on the 25th after investors and traders speculating over possible US government shutdown concerns ramped up safe-haven purchases.
• Thanks to strong global demand amid the strong global cues, silver price in Bhopal remained untouched at Rs.40,285 per kg until the end of the week.

January 2018 - Week 5 (29th - 31st):

• The final week commenced with silver opening on a stronger note with the metal priced at Rs.42,700 per kg - the highest recorded monthly figure- on the 29th with an increased domestic demand brought about the positive trends overseas.
• However, with markets eyeing on the two-day monetary policy meeting at the US Federal Reserve, the US dollar surged.
• The strengthening greenback coupled with firmer equities resulted in silver rate in Bhopal holding steady at Rs.42,200 per kg on the 30th and the 31st.
• Silver price in Bhopal rose by 8.41% owing to the strong trends that pushed rates higher during the month.

Trend of Silver Rate in Bhopal for December 2017 (rates per kg)

Parameters	Silver price (per kg)
Silver Rate on 1st December 2017	Rs.38,230 per kg
Silver Rate on 31st December 2017	Rs.39,265 per kg
Highest Rate in December	Rs.39,365 per kg on 30 and 31 December
Lowest Rate in December	Rs.36,545 per kg on 13 December
Overall Monthly Performance	Incline
Percentage Change	2.70%

December 2017 - Week 1 (1st to 10th)

• The industrial metal was priced at Rs.38,230 per kg on the 1st, when trading commenced in Bhopal.
• Silver price in Bhopal surged to Rs.38,815 per kg on the 2nd with the US dollar losing against a basket of other emerging currencies.
• The 5th witnessed silver rate in Bhopal decline again to Rs.37,965 per kg before rebounding to Rs.38,395 per kg the next day with the dollar rising amid the firm equities.
• Demand remained low for much of the week against the strong US dollar index coupled with firm equity markets. This led to silver prices dropping as low as Rs.37,235 per kg on the 7th of December.
• Poor domestic demand coupled with unfavourable global trends led to silver rate in Bhopal hitting Rs.36,620 per kg on the 8th.
• However, a steady but subdued local demand from industrial units and coin makers resulted in the industrial metal trading firm at Rs.36,715 per kg on for the remainder of the week.

December 2017 - Week 2 (11th to 17th)

• When trading opened for the second week silver was priced at Rs.36,920 per kg on the 11th with demand slightly improving from the previous week.
• However, silver price in Bhopal dropped to Rs.36,620 per kg the next day before declining to Rs.36,545 per kg on the 13th amid the strengthening US dollar and well-performing equity markets. This was also the lowest recorded monthly figure in Bhopal.
• A decline in the US dollar index after the dollar weakened against other major emerging currencies led to an increase in demand for the white metal. This led to silver rate in Bhopal surging to Rs.38,395 per kg on the 14th.
• The 15th, however, witnessed rates plunging to Rs.36,920 per kg as demand for the metal subsided amid the strengthening dollar.
• Prices remained unchanged at Rs.36,920 per kg on the 16th but rebounded to Rs.37,180 per kg on the 17th with the new interest rate hike by the Fed Reserve proving to be unfavourable for the equities market.

December 2017 - Week 3 (18th - 24th)

• The week commenced silver priced relatively lower at Rs.37,600 per kg on the 18th as the US tax bill moved a step closer to approval.
• However, with investors speculating over the ultimate impact of the US tax overhaul on the country’s economic growth, equity markets muted. This led to silver prices in Bhopal surging to Rs.38,395 per kg on the 19th.
• Steady industrial demand coupled with positive trends overseas led to silver holding steady at Rs.38,395 per kg on the 20th.
• However, the US Senate’s decision to clear the tax bill resulted in a stronger dollar index and firmer equities. This led to silver rate in Bhopal plunging to Rs.37,600 per kg on the 21st.
• With equities market on the decline in the Asian trade, an increased demand for the industrial metal resulted in the white metal being priced at Rs.37,865 per kg on the 23rd and the 24th.

December 2017 - Week 4 (25th to 31st)

• The final week began with silver trading at Rs.38,395 per kg on the 25th.
• Though prices declined to Rs.38,005 per kg on the 26th, silver rates rebounded to Rs.38,275 per kg on the 27th with the US dollar losing its sheen amid the strong global cues.
• On the 29th, silver rate in Bhopal were recorded at Rs.38,815 per kg which surged further to Rs.39,265 per kg on the 30th owing to a strong increase demand from industrial units and coin manufacturers.
• The last day of the year saw silver price in Bhopal holding steady at Rs.39,265 per kg on the 31st due to strong investor sentiments for the industrial metal amid the positive trends overseas.
• Silver trade witnessed an incline of 2.70% in prices in Bhopal during the course of the month due to the strong international cues that pushed demand higher for the metal.

Trend of Silver Rate in Bhopal for November 2017 (rates per kg)

Parameters	Silver price (per kg)
Silver rate on 1st November 2017	Rs.38,995 per kg
Silver rate on 30th November 2017	Rs.38,640 per kg
Highest Rate in November 2017	Rs.40,520 per kg on 18 and 19 November
Lowest Rate in November 2017	Rs.38,640 per kg on 30 November
Overall Monthly Performance	Decline
Percentage Change	0.91%

November 2017 - Week 1 (1st to 5th):

• The month began in Bhopal with silver trading at Rs.38,995 per kg on the 1st of November.
• The 2nd witnessed Silver rate in Bhopal surging to Rs.39,950 per kg due to an increase in local buying ahead of the festive season.
• Demand remained suitably high during the week with the equity markets performing poorly amid a weakened dollar.
• Silver was recorded trading at Rs.39,355 per kg on the 4th due to a marginal drop in industrial demand.
• The week ended with Silver price in Bhopal holding steady at Rs.39,355 per kg on the 5th amid positive global trends.

November 2017 - Week 2 (6th to 12th):

• Steady demand for the industrial metal coupled with positive trends overseas led to silver opening steady at Rs.39,355 per kg on the 6th.
• Strong global cues coupled with the political crisis prevailing in the Middle East led to an increase in demand for safe-haven assets like silver and gold. This led to silver rates rising to Rs.40,040 per kg on the 7th.
• With domestic demand capitalising over the political turmoil caused by the surprise arrest of Saudi diplomats, Silver rate in Bhopal were recorded trading at Rs.40,040 per kg on the 8th and the 9th.
• However, with world markets recovering from the shock, silver prices plunged to Rs.39,970 per kg on the 10th.
• Local demand remained steady despite the poor trends overseas. This led to the Silver price in Bhopal remaining untouched at Rs.39,970 per kg for the rest of the week.

November 2017 - Week 3 (13th to 19th):

• The week started off with the white metal trading relatively lower at Rs.39,870 per kg on the 13th.
• However, with the Brexit fallout resulting in weak British equity markets, prices picked up during the week. Silver was recorded trading at Rs.40,140 per kg on the 14th.
• Silver price in Bhopal continued to rise as the week progressed. An increase in industrial order from the Asian continents led to silver rates rising further to Rs.40,240 per kg on the 15th.
• Silver rate in Bhopal remained untouched at Rs.40,240 per kg on the 16th, but prices plunged to Rs.40,040 per kg on the 17th due to poor local demand amid a weak trend overseas.
• The 18th, however, witnessed silver rates in Bhopal hitting its highest monthly figure of Rs.40,520 per kg as local demand surged after intensifying US-North Korean conflicts.
• Steady global demand coupled with positive cues led to silver trading firm at Rs.40,520 per kg on the 19th as well.

November 2017 - Week 4 (20th to 26th):

• The fourth week commenced with silver priced at Rs,40,440 per kg on the 20th with commodity markets stabilising after the previous week’s surge.
• Demand - global, as well as domestic - declined over the next couple of days with the dollar strengthening over other apex currencies and the equity markets regaining lost ground . This led to Silver rate in Bhopal plunging to Rs.39,780 per kg and Rs.39,265 per kg on the 21st and the 22nd respectively.
• The 23rd saw prices rising to Rs.40,060 per kg after local demand picked up ahead of the wedding season.
• Demand remained strong after the dollar and equity markets lost its ground amid the ongoing crisis with North Korea.
• The week concluded with silver trading at Rs.39,780 per kg on the 26th.

November 2017 - Week 5 (27th to 30th):

• The final week witnessed Silver rate in Bhopal dropping significantly on account of the poor trends overseas pushing demand lower for the metal.
• The industrial metal was priced at Rs.39,780 per kg on the 27th when the week commenced.
• On the 28th, a decline in industrial demand coupled with reduced orders led to Silver price in Bhopal plunging to Rs.39,680 per kg.
• A strengthening dollar couple with firm equities led to prices plummeting further to Rs.39,115 per kg on the 29th.
• Trading ended for the month with the industrial metal trading at Rs.38,640 per kg on the 30th. Bhopal recorded a decline of 0.91% in silver trade during the course of the month.

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.

Also Check Silver Price in NearBy Cities of Bhopal

Silver Rate in Delhi	Silver Rate in Indore	Silver Rate in Raipur
Silver Rate in Mumbai	Silver Rate in Pune	Silver Rate in Nagpur

Also Know: Gold Rate in Bhopal