Silver Rate in Bhopal

Silver Rate in the Most Popular Indian Cities

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)

• 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)

• 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)

• 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)

• 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)

• 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)

• 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

1. Is silver a good investment in Bhopal?

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.

2. What are the different ways to invest in silver?

You can invest in silver in multiple ways such as silver jewellery, coins, bars, etc.

3. Can I purchase silver from banks?

Yes. You can purchase silver bars, coins, and more from banks.

4. When is the best time to purchase silver?

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.

5. Should I purchase silver bars or coins?

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.

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