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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 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|
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|
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|
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|
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.
|Parameters||Silver price (per kg)|
|Silver rate on 1st October 2017||Rs.39,530 per kg|
|Silver rate on 31st October 2017||Rs.39,435 per kg|
|Highest Rate in September||Rs.40,440 per kg on 16 October|
|Lowest Rate in September||Rs.39,110 per kg on 5 and 19 October|
|Overall Monthly Performance||Decline|
October 2017 - Week 1 (1st to 8th)
- The subdued from the buyers, jeweller and investors led the silver to be traded low in the first week of October in Bhopal.
- The white metal was priced Rs.39,530 per kg for the first two days of the week.
- As the week progressed, the silver price in Bhopal dropped drastically and reached the month's lowest on 5 October.
- After touching Rs.39,110 per kg, silver started gaining the lost luster due to the growing demand in the overseas market.
- The upcoming festive season raised the demand for the metal in the local market and resulted the metal to be traded at Rs.39,680 per kg for the last two days of the first week.
October 2017 - Week 2 (9th to 15th)
- The Second week opened with gold priced Rs.39,950 per kg and increased over the week as diwali was around the corner.
- Rising political tension between two nations and war of words edged up the silver’s price in Bhopal to Rs.40,060 per kg.
- Prices remained on the higher edge; as the North korea’s rising nuclear power owed the investors, making silver a safe haven.
- Towards the end of the week, prices were stable for four days due to the poor US job data.
- The week ended with silver priced Rs.40,390 per kg.
October 2017 - Week 3 (16th to 22nd)
- On 16 October, silver was priced Rs.40,440 per kg, the highest in the month, due to the massive demand from the buyers, investors and jewellers.
- The weak global cues slumped silver by Rs.1,330 per kg. The subdued demand overseas also declined the silver’s price gradually, in between the diwali season.
- On 19 October, the silver’s price again touched the month’s lowest, Rs.39,110 per kg. Increasing stability in the US dollar and equities, slowly increased the bullion’s price to Rs.40,285 per kg.
- As the week ended, the rising political tensions in Europe raised instability US market and traded silver at Rs.40,060 per kg on the last two days of the week.
October 2017 - Week 4 & Week 5 (23rd to 31st)
- The last week of the month has a record of gold traded at Rs.40,040 per kg due to the ongoing fear among the investors.
- Silver price in Bhopal fall sharply by Rs.945 per kg to Rs.39,115 per kg as the demand dropped in the local as well overseas market. The MCX silver futures rate was down by 0.32%.
- As the month closed, silver gained its lusture at the bullion market due to the rising volatility in the gold price. In Bhopal, silver closed at Rs.39,435 per kg.
|Parameters||Silver price (per 1 kg)|
|Silver rate on 1st September||Rs.40,390 per kg|
|Silver rate on 30th September||Rs.39,530 per kg|
|Highest Rate in September||Rs.40,900 per kg on 9 and 10 September|
|Lowest Rate in September||Rs.39,530 per kg on 28 to 30 September|
|Overall Monthly Performance||Decline|
September 2017 - Week 1 (1st - 10th)
- Silver was trading at Rs.40,390 per kg when September began in Bhopal.
- Due to continued and stable demand from local investors prices remained unchanged till the 3rd.
- The 4th saw silver rates in Bhopal increase to Rs.41,075 per kg, courtesy of a weak US dollar performance.
- As demand increased, silver prices in Bhopal went up to Rs.40,340 per kg and then to Rs.41,495 per kg as industrial ramped up their purchases to improve their inventory.
- Due to a sudden fall in demand on the 7th, rates fell to Rs.40,230 per kg.
- The final three days saw increased demand for silver as North Korea confirmed reports about its latest - and the most powerful nuclear test.
- On the 8th, silver was trading at Rs.41,675 per kg, which then increased to Rs.41,900 per kg on the 9th.
- At the time of closing on the 10th, silver was still trading at Rs.41,900 per kg.
September 2017 - Week 2 (11st - 17th)
- Silver prices this week was largely on the decline as a result of a strengthening US dollar.
- On the 11th, silver in Bhopal was priced at Rs.41,075 per kg before going down slightly to trade at Rs.41,030 per kg on the 12th.
- Silver rates in Bhopal rose to Rs.41,075 per kg on the 13th again but fell this time by a higher margin.
- On the 14th, the white metal was priced at Rs.40,890 per kg and continued at this rate till the end of the week.
September 2017 - Week 3 (18th - 24th)
- Silver rates in Bhopal was reflective of the trend seen in the consolidated Indian market. When the week began on the 18th, the metal was priced at Rs.40,440 per kg.
- A strong US dollar performance had an adverse effect on silver on the 19th as the metal traded at Rs.39,680 per kg.
- The North Korea - US conflict didn’t seem to settle down, which stoked safe-haven purchases, globally and domestically.
- A drop in demand on the 21st saw the white metal trade at Rs.39,670 per kg. Due to steady and sustained demand, silver rates remained unchanged till the week came to an end.
September 2017 - Week 4 (25 -30):
- In Bhopal, silver prices opened for this week at Rs.39,670 per kg.
- Due to increased buying spurred by the imminent arrival of Dusshera festivities, silver prices rose to Rs.40,520 per kg.
- However, as demand took a hit, silver prices in Bhopal went down to Rs.39,780 per kg on the 27th.
- Silver prices in Bhopal went further down to Rs.39,530 per kg on the 28th as demand plummeted amidst weak global cues.
- Over the final two days of the week, silver prices remained at Rs.39,530 per kg, thanks to a sustained but low demand from local buyers.
- Silver rates fell by 2.12% this month because of low demand for the metal in local circles.
|Parameters||Silver price (per kg)|
|Silver Rate in 1st August||Rs.38,925 per kg|
|Silver Rate in 31st August||Rs.40,040 per kg|
|Highest Rate in August||Rs.40,190 per kg on 29 & 30 August|
|Lowest Rate in August||Rs.37,235 per kg on 5 & 6 August|
|Overall Monthly Performance||Incline|
August 2017 - Week 1 (1st-6th)
- Silver traded at Rs.38,995 per kg on the 1st following a strong offtake from industries.
- Silver markets fell significantly on the 2nd to Rs.38,455 due to reduced demand from industries.
- Silver price in Bhopal dropped down on the 3rd to Rs.37,965 per kg indicating a decline in foreign trade sessions.
- Release of employment data globally led to the white metal's rates rise to Rs.38,120 per kg.
- On the 5th, silver rate in in Bhopal hit a monthly low figure of Rs.37,235 per kg which continued on to the 6th as well.
August 2017 - Week 2 (7-13):
- The second week witnessed a surge in the prices due to increased offtake by industries and coin makers, and rising tensions between the US and North Korea as well.
- The week started off with silver being traded initially at Rs.37,295 per kg, which rose to Rs.38,345 per kg on the 8th.
- Silver rate in in Bhopal fell down to Rs.37,965 per kg on the 9th following a decline in industrial demands.
- Silver price in in Bhopal shot up again to Rs.38,925 per kg on the 10th after excessive demand from industries and traders coupled with the crash in the US economy and overseas conflict with North Korea.
- With consistent demand from industries and coin makers, silver rates progressed to Rs.39,530 per kg on the 11th.
- The 12th and 13th witnessed the white metal trading at Rs.39,640 per kg.
August 2017 - Week 3 (14th-20th)
- The third week began with silver trading consistently at Rs.39,640 per kg and continued onto the 15th.
- The 16th witnessed silver rate in Bhopal fall to Rs.38,815 per kg due to an irregular decline in overseas demand.
- With the US dollar softening, silver rates rose further to Rs.39,115 per kg on the 18th.
- Bhopal saw silver trading at Rs.39,115 per kg for the rest of the week with steady industrial demand.
August 2017 - Week 4 (21st-27th)
- The fourth week witnessed volatility in silver prices due to unstable demand.
- Silver traded at an incline in prices at Rs.39,115 per kg on the 21st, Rs.39,265 per kg on the 22nd and the 23rd due to steady increase in demand during the week.
- Silver rate in Bhopal rose to Rs.39,355 per kg on the 24th.
- The recovery of the US dollar and decline in global demand proved to be unfavourable conditions for silver trade.
- This resulted in silver being traded at Rs.38,995 per kg for the rest of the week.
August 2017 - Week 5 (28th-31st)
- The last week witnessed the white metal's prices inclining with purchases made by investors and industries.
- On the 29th, silver price in Bhopal hit a monthly high figure of Rs.40,190 per kg due to significant increase in industrial demand which continued onto the next day.
- The month ended with the white metal's rates falling down to Rs.40,040 per kg.
|Parameters||Silver price (per kg)|
|July 1st Rate||Rs.38,640 per kg|
|July 31st Rate||Rs.38,640 per kg|
|Highest Rate in July||Rs.38,690 per kg on 3 July|
|Lowest Rate in July||Rs.36,035 per kg on 10 July|
|Overall Monthly Performance||No change|
July 2017 - Week 1 (1st to 9th)
- Silver prices in Bhopal were recorded at Rs.38,640 per kg on the 1st of July.
- Rates were unchanged on the 2nd due to continued buying from investors in the city.
- The 3rd saw silver prices reach the monthly high figure of Rs.38,690 per kg as a result of the US dollar exchanging at near nine-month lows.
- With domestic trading remaining at a low, silver rates dropped on the 4th to trade at Rs.37,705 per kg before increasing slightly to Rs.37,800 due to positive cues.
- As the US dollar strengthened due to positive job data, silver prices dropped to Rs.37,115 per kg and continued at the same rate for the remainder of the week.
July 2017 - Week 2 (10th to 16th)
- Silver rates reached their lowest figure for the month on the 10th of July as it was trading at RS.36,035 per kg.
- Rates went up to Rs.36,270 per kg on the 11th as markets crashed after reports about Trump family’s alleged connection to Russia surfaced.
- Silver was selling at Rs.36,920 per kg on the 12th and the 13th as local industries and coin makers pushed to improve their inventory
- With investors exercising caution on the 14th, silver prices went down to Rs.36,270 per kg before bouncing back to Rs.37,180 per kg on the 15th and the 16th.
- The significant jump in prices was due to the US economy performing weakly, subsequently affecting precious metal prices worldwide.
July 2017 - Week 3 (17th to 23rd)
- On the 17th of July, silver was priced at Rs.37,180 per kg, which then spiked to Rs.37,600 per kg on the 18th.
- The 19th as well maintained the positive growth with rates going up to Rs.37,705 per kg before a slowed down purchase brought rates down to Rs.37,600 per kg on the 20th.
- Investors, particularly those from industries and the jewellery segment, began purchasing silver more on the 21st, which led to the metal trading at Rs.37,800 per kg.
- During the last two days of the week, silver prices stabilised to hold at Rs.38,005 per kg.
July 2017 - Week 4 (24th to 31st)
- On the 24th, silver was trading at Rs.38,120 per kg due to subdued demand from industries and jewellers.
- Rates went up to Rs.38,230 per kg on the 25th before going down to Rs.38,120 per kg because various sections of investors were waiting for a price correction.
- Silver rates were on the ascent on the 27th with prices reaching as high as Rs.38,690 per kg but decline considerably over the last few days of the month.
- On the last day of July 2017, silver was trading at Rs.38,640 - the same rate as seen on the 1st of the month.
|June 1 Rate||Rs.40,285 per kg|
|June 30 Rate||Rs.38,995 per kg|
|Highest Rate in June||Rs.40,890 per kg on 7 June|
|Lowest Rate in June||Rs.38,455 per kg on 21 June|
|Overall Monthly Performance||Decline|
June'17 - Week 1 (1st - 4th)
- Silver began trading at Rs.40,285 per kg when the month of June began.
- Prices, however, decreased to Rs.39,950 per kg as industrial offtake reduced and so did the demand from coin makers.
- Silver rate in Bhopal increased considerably to reach Rs.40,670 per kg - a Rs.720 increase - due to positive signs in the bullion industry,
- Silver prices remained at Rs.40,670 per kg as there was a sustained demand for the metal.
June '17 - Week 2 (5th - 11th)
- Silver rate in Bhopal started at Rs.40,670 per kg on the 5th and remained unchanged on the 6th of June as well.
- The 7th saw silver rates hit a monthly high of Rs.40,890 per kg as global tensions increased and bullion rates took a leap all over the world.
- As the same amount of demand couldn’t be sustained, silver prices decreased on the 8th to reach Rs.40,725 per kg and then went down to Rs.40,285 per kg on the 9th.
- During the trading day on the 10th, silver prices decreased further to Rs.40,060 per kg and remained there till the end of the week on the 11th.
June'17 - Week 3 (12th - 18th)
- Rates fell consistently during the third week of June as demand fell significantly as a direct impact of the US dollar strengthening.
- On the 12th of June, silver was priced at Rs.39,680 per kg, which then went down to Rs.39,435 per kg on the 13th.
- Silver prices went down on the 14th - for the third consecutive day - to reach Rs.39,115 per kg but increased slightly to Rs.39,265 per kg on the 15th.
- Over the last two days of the week - i.e., the 17th and the 18th, silver prices were holding at Rs.38,460 per kg.
June '17 - Week 4 (19th - 25th)
- When the penultimate week of June began on the 19th, silver was trading at Rs.38,640 per kg - a Rs.180 increase from the previous day’s prices.
- Rates remained the same on the 20th, before decreasing to hit a monthly low of Rs.38,455 per kg - on the 21st of June.
- Prices went up slightly to Rs.38,460 per kg on the 22nd and gradually increased over the next couple days.
- The 23rd saw silver rate in Bhopal go up to Rs.38,690 per kg and then increase to Rs.38,925 per kg.
- When the week came to an end, silver rates in Bhopal were recorded at Rs.38,925 per kg.
June'17 - Week 5 (26th - 30th)
- During the last week of June 2017, prices rose and fell simultaneously, owing to a haphazard local demand.
- On the 26th, silver was priced at Rs.38,925 per kg, which then went down considerably to Rs.38,455 per kg on the 27th of June.
- The 28th saw prices increase to Rs.39,115 per kg, which continued to remain the same on the 29th as well.
- On the last day of June 2017, silver prices fell marginally to reach Rs.38,995 per kg - marking a Rs.120 decline from the previous day’s rates.
- Silver rates in Bhopal fell at a rate of 3.20% due to a significant downturn demand which was spurred by weak global and domestic cues.
|Parameters||Silver Price in Bhopal|
|May 1st Rate||Rs.40,040 per kg|
|May 31st Rate||Rs.40,060 per kg|
|Highest Rate in May||Rs.40,520 per kg on May 30|
|Lowest Rate in May||Rs.37,705 per kg on May 10 and 11|
May ’17 – Week 1 (1st – 7th)
- There were minor fluctuations in the price of silver in Bhopal during the first week of May due to factors such as the French presidential election, bullish stock markets and the rise in the US Dollar rate.
- Silver traded at Rs.40,040 per kg on May 1 and the price fell to Rs.39,115 per kg on the next day. This is a fall of Rs.925 per kg.
- The price dropped to Rs.38,925 per kg on May 3 as the Asian stock markets were bullish and the demand for safe-haven assets declined.
- Silver hit the market at the price of Rs.38,005 per kg on the last day of the week.
May ’17 – Week 2 (8th – 14th)
- Silver traded low at the market at Rs.37,965 per kg, a drop in price due to the afterglow of the Macron win in the presidential elections in France.
- Prices declined further over the course of the week and hit its all-time low in the month, reaching Rs.37,705 per kg on May 10 and 11. This fall in price is due to fall in industrial demand and a lack of buying from coin minters.
- The price of the white metal increased on the next day, reaching Rs.37,865 per kg due to safe-haven buying and a fluctuation in the US dollar rate.
- The price of silver was Rs.38,005 per kg on the last day of the second week.
May ’17- Week 3 (15th – 21st)
- Silver hit the market at Rs.38,230 per kg, trading bullishly when compared to the previous week due to the fall in the US Dollar rate and US Federal Reserve developments.
- Prices were on the rise from May 15 to May 19 due to demand fluctuations and fall in retail sales figures in the US. The price on May 18 was Rs.39,265 per kg, a rise of Rs.1,035 per kg when compared to the rate on May 15.
- The price declined to Rs.38,815 per kg on May 19 due to weak manufacturing data in the US. Because of this the US Federal Reserve could not increase interest rates.
- The market closed at Rs.39,115 per kg on the last day of the third week in May.
May ’17 – Week 4 (22nd – 28th)
- Silver opened at the market at Rs.39,265 per kg on May 22, a hopeful high when compared to the previous week.
- During the next few days of the week, the price of the precious white metal fluctuated with rates going up and down due to various geopolitical factors involving the US President Donald Trump and a bullish Asian stock market.
- The price increased to Rs.40,040 per kg on May 23 and fell again to Rs.39,670 per kg on the next day. This was because panic buying increased on May 23 due to the Manchester blast.
- The price of silver stood at Rs.40,190 per kg on May 28, the last day of the fourth week of May.
May ’17 – Week 5 (29th – 31st)
- Silver traded on a bullish note during the last week of May, reaching Rs.40,285 per kg on May 29.
- The incline was because of geopolitical developments around the world such as the Greece bailout, Brexit talks and growth in the euro zone.
- The above factors led to a further increase in price of the precious metal on the next day. The price reached the highest in the month to Rs.40,520 per kg on May 30.
- There was an overall incline in the price of silver in May by 0.04%.
|April 1st Rate||Rs.42,570 per kg|
|April 30th Rate||Rs.40,040 per kg|
|Highest Rate in April||Rs.43,055 per kg on the 15th and 16th of April|
|Lowest Rate in April||Rs.40,040 per kg on the 29th and 30th of April|
April ‘17 - Week 1 (1st to 9th)
- On the first day of April in Bhopal, silver traded at Rs.42,570 per kg and this rate continued on the 2nd of April as well.
- The next day, the U.S. Federal Reserve exhibited a cautious tone regarding the change in interest rates resulting in a decline in the rate of silver.
- On the 3rd of the month, silver was priced at Rs.42,435 per kg before increasing to trade at Rs.42,730 per kg the next day.
- Due to sluggish data from the U.S. regarding economy, there were no significant variations in the price of this precious metal.
- Silver rate fell on the 6th of April to trade at Rs.42,640 per kg and reduced further the next day to be priced at Rs.42,570 per kg.
- Rate of this metal increased again to Rs.42,640 per kg on the last two days of the first week.
April ‘17 - Week 2 (10th to 16th)
- On the 10th of April, silver was priced at Rs.41,625 per kg and increased slightly the next day.
- Due to an increase in the demand for this metal from coin makers and industrialists across the country, silver traded at Rs.41,780 per kg on the 11th of April.
- However, this demand could not be sustained and the rate of silver reduced to trade at Rs.42,640 per kg on the 12th of April before rising again to Rs.42,775 per kg on the 13th.
- Silver rate fell again on the 14th to trade at Rs.43,030 per kg due to a fall in the demand.
- However, on the last two days of the month, the demand for this metal rose sharply, resulting in silver trading at Rs.43,055 per kg which was also the highest at which this metal was priced for the month.
April ’17- Week 3 (17th to 23rd)
- Rate of silver fell to Rs.43,030 per kg on the 17th of April as the value of the U.S. dollar increased. However, this fall was temporary and silver rates recovered the next day.
- Silver was priced at Rs.42,775 per kg on the 18th of April in Bhopal but fell the next day to trade at Rs.42,435 per kg.
- This rate was noted on the 19th of April as well.
- However as the demand for this metal fell, silver rate reduced as well to trade at Rs.42,080 per kg on the 21st of April.
- On the last two days of the week, silver traded at Rs.41,980 per kg due to a marginal rise in the demand for this metal.
April ’17- Weeks 4 (24th to 30th)
- Silver was priced at Rs.41,625 per kg on the first day of the last week of April in Bhopal. This reduced price can be attributed to a decline in the demand for this metal.
- Silver traded at Rs.41,435 per kg on the 25th of April and fell to Rs.40,520 per kg on the 26th of April.
- Emmanuel Macron, a centrist candidate won the first round of the presidential elections in France resulting in price variations of silver.
- Due to stable demand for silver, the price of silver was Rs.40,190 per kg on the 28th of April. The rate fell again and silver was priced at Rs.40,040 per kg on the last two days of the week. This was also the lowest at which silver was priced for the month of April.
- At the end of April, a decline of 5.94% was noted in the rate of silver in Bhopal.
|March 1st Rate||Rs.43,970 per kilogram|
|March 31st Rate||Rs.42,115 per kilogram|
|Highest Rate in March||Rs.44,100 per kilogram on March 2nd|
|Lowest Rate in March||Rs.40,040 per kilogram on March 15th|
March ‘17 - Week 1 (1st to 5th)
- Silver opened trading for the month of March at Rs.43,970 per kilogram.
- Sustained demand for the metal saw it marginally climb to Rs.44,100 per kilogram on March 2nd.
- A stronger US Dollar saw silver drop to Rs.42,730 per kilogram on March 3rd.
- Increased industrial demand saw silver recover to Rs.43,295 per kilogram for March 4th and March 5th.
March ‘17 - Week 2 (6th to 12th)
- A slight decline in industrial demand saw Silver open the second week of trading at Rs.42,925 per kilogram.
- Drop in demand from coin makers saw Silver slump to Rs.41,435 per kilogram on March 9th.
- An expected US Federal Interest Rate hike saw silver plummet to Rs.40,670 per kilogram on March 10th.
- Silver saw a further decline to Rs.40,520 per kilogram on March 11th and March 12th.
March ’17- Week 3 (13th to 19th)
- A marginal increase in demand from coin makers saw Silver open the third week of trading at Rs.40,760 per kilogram.
- A strong US Dollar and slump in industrial demand for the precious metal saw Silver drop to Rs.40,040 per kilogram on March 15th.
- Propped up by a slight increase in industrial demand, Silver climbed to Rs.40,890 per kilogram on March 16th.
- Silver remained stable and closed the week’s trading at Rs.40,815 per kilogram.
March ’17- Weeks 4 (20th to 26th)
- Sustained demand from coin makers and industry saw Silver open the week’s trading at Rs.41,075 per kilogram.
- An increase in trading in the FOREX market saw Silver rates drop to Rs.40,725 per kilogram on March 21st.
- Sustained demand for the precious metal saw Silver climb to Rs.41,435 per kilogram on March 24th.
- Sustained demand stabilized Silver at Rs.41,340 per kilogram to close the week’s trading.
March ’17- Weeks 5 (27th to 31st)
- Healthy demand by industry saw Silver open the week’s trading at Rs.41,900 per kilogram.
- A weakened US Dollar saw Silver climb further to Rs.42,115 per kilogram on March 28th and March 29th.
- Increase in demand for Silver saw it further climb to Rs.42,435 per kilogram on March 30th.
- Silver closed the month’s trading at Rs.42,115 per kilogram.
|February 1st Rate||Rs. 42,520 per kg|
|February 28th Rate||Rs. 44,165 per kg|
|Highest Rate in February||Rs. 44,165 per kg on 28th February|
|Lowest Rate in February||Rs. 42,115 per kg on 3rd February|
February 2017 - Week 1 (1st -4th):
- On 1st of February, when trading for the month bega, silver was trading at Rs.42,520 per kg but went up to Rs.42,640 per kg, thanks to the sudden rise in industrial demand.
- The 3rd, however, saw silver prices decrease to hit the lowest for the month at Rs.42,115 per kg.
- At the end of the week on 4th, silver rates went up to Rs.42,355 per kg on 4th as prices seemed to go up slightly.
February 2017 - Week 2 (5th - 11th):
- When week 2 began on 5th, silver was still priced at Rs.42,355 per kg before increasing by Rs.165 to hit Rs.42,520 per kg.
- On 7th, prices increased again to reach Rs.42,930 per kg - an increase of Rs.410 per compared to the previous day’s price.
- Rates went down marginally to Rs.42,920 per kg on 8th but bounced back to finish the business day of the 9th at Rs.42,950 per kg.
- On 10th, prices hit the lowest for the week to reach Rs.42,375 per kg..
- Rates went up on the last day of week 2 to hit Rs.42,570 per kg as demand went up again.
February 2017 - Week 3 (12th - 18th):
- The third week of February saw gold prices fluctuate considerably.
- When trading began on 12th, silver was priced at Rs.42,570 per kg and increased considerably by Rs.710 to hit Rs.43,280 per kg on 13th.
- The 14th saw prices go down as several domestic factors brought about the rise wasn’t there to be see again.
- The final three days of week 3 in Bhopal witnessed prices increase as demand went up.
- On 15th, silver was priced at Rs.43,385 per kg which later went up to Rs.43,520 per kg on 16th.
- Week 3 ended on 18th as silver rates declined to go down to Rs.43,400 per kg.
February 2017 - Week 4 (19th - 25th):
- Over the fourth week of February, silver prices still saw fluctuations despite the fact that trend was on the incline.
- When trading began on 19th, silver was trading at Rs.43,400 per kg but went down to Rs.43,270 per kg on 20th.
- Rates slightly increased on 21st to reach Rs.43,285 per kg but went down on 22nd to hit Rs.43,240 per kg.
- Prices went up on the 23rd to Rs.43,295 per kg and then to Rs.43,680 per kg on 24th.
- When the week ended on 25th, silver was seen trading at Rs.43,910 per kg.
February 2017 - Week 5 (25th - 28th):
- Rates were on the incline during the last week of February.
- When trading began on 25th, silver was priced at Rs.43,910 per kg and then increased to Rs.44,110 per kg on 27th.
- On the last day of February, silver was still priced at Rs.44,165 per kg.
- Bhopal saw silver price trends increase by 3.86% for the month of February.
|January 1st Rate||Rs.39,035 per kg|
|January 31st Rate||Rs.41,900 per kg|
|Highest Rate in January||Rs.42,010 per kg on 30th January|
|Lowest Rate in January||Rs.39,035 per kg on 1st January|
January 2017 - Week 1 (1st to 7th):
- Bhopal didn’t see much of a change in silver prices and remained the same as other Tier-2 cities in the country.
- When January began, the metal was trading at Rs.39,035 per kg.
- As demand increased, gold prices went up to Rs.39,355 per kg by the end of 2nd.
- Prices had gone up to Rs.40,520 per kg on 5th as more and more people began to buy the metal.
- At the end of week 1, silver was trading at Rs.41,390 - a slight decrease from the previous day’s price.
January 2017 - Week 2 (8th to 14th):
- When week 2 of January began on 8th, silver was trading at Rs.40,390 per kg and remained much the same on 9th.
- Prices increased on 10th to go up to Rs.40,520 per kg as demand seemed to go up.
- On 11th, silver prices went down marginally to Rs.41,360 and went down again on 12th to Rs.41,230 per kg as markets stabilised.
- The week ended with silver still trading at Rs.41,230 per kg as no fluctuations were seen.
January 2017 - Week 3 (15th to 21st):
- The third week started with silver trading at Rs.41,230 and went up to Rs.41,360 per gram on 16th.
- The 18th saw prices go up as well to end the business day at Rs.41,895 per kg.
- However, prices went down by a small margin to Rs.41,675 per kg on 19th due to strengthening markets and remained the same on 20th too.
- Week 3 ended with silver trading at Rs.41,930 per kg.
January 2017 - Weeks 4 & 5 (22nd to 31st):
- The last two weeks of January saw silver prices fluctuate considerably.
- On 22nd, silver was trading at Rs.41,930 per kg, which went down to Rs.41,860 per kg on 23rd.
- After a slump for much of the week, prices increased significantly to Rs.42,010 per kg on 30th as demand from the industry rose.
- On the last day of January silver was trading at Rs.41,900 per gram.
- Silver prices in Bhopal went up by 7.33% for the month of January.
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|
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