Silver Rate in Bhubaneswar

October 2017 - Week 1 (1-8):

• Silver opened trading at Rs.39,530 per kg on the 1st on account of subdued demand from industrial units and coin manufacturers.
• Prices remained low for much of the week with markets focusing on the release of the US economic data despite the geopolitical crisis prevailing in the United States and the Korean Peninsula.
• The 5th recorded the lowest monthly figure of Rs.39,110 per kg in Bhubaneswar. This was due to the poor domestic demand amid strong dollar rates and firmer world markets.
• However, a strong industrial demand from the Asian markets resulted in the dollar declining. This led to silver prices rising to Rs.39,680 per kg on the 7th.
• Thanks to steady demand, silver rates remained untouched at Rs.39,680 per kg on the 8th.

October 2017 - Week 2 (9-15):

• Silver rates dropped significantly during the week after the possibility of an interest rate hike by the US central bank led to a decline in global demand.
• The week commenced with the white metal trading at Rs.39,950 per kg on the 9th of October.
• With the festive season around the corner, local demand seemed to pick up in the domestic trade. This led to prices surging to Rs.40,060 per kg and Rs.40,285 per kg on the 10th and 11th respectively.
• Strong global cues compounded by weak equities market led to silver being priced at Rs.40,390 per kg for the remainder of the week.

October 2017 - Week 3 (16-22):

• The week began with the white metal priced at Rs.40,440 per kg - the highest monthly figure recorded on the 16th. in Bhubaneswar.
• However, prices declined over the next few days as the US dollar strengthened amid firm equity markets. This led to silver rates plunging to Rs.39,110 per kg touching the lowest monthly figure again on the 19th.
• Demand surged with the arrival of Diwali pushing festive sales higher in the local trade. This led to rates surging to Rs.40,285 per kg on the 20th.
• Local demand, however, dropped over the next two days and the industrial metal was recorded trading at Rs.40,060 per kg on the 21st and the 22nd.

October 2017 - Week 4 & Week 5 (23-31):

• Poor industrial demand compounded by weak overseas trends led to silver prices plummeting during the week.
• The week opened with the grey metal priced at Rs.40,040 per kg on the 23rd.
• Prices declined to Rs.39,780 per kg on the 25th after global demand was cutdown amid weak global trends.
• The 27th witnessed rates dropping further to Rs.39,435 per kg as the dollar stood its ground despite the North Korean nuclear prowess.
• The white metal rates dropped to Rs.39,115 per kg on the 29th and 30th before rebounding to Rs.39,435 per kg on the last day.
• Bhubaneswar registered a decline of 0.24% in silver prices over the course of the month.

September 2017 - Week 1 (1st-10th)

• The first week of September opened with the white metal trading at Rs.40,390 per kg on the 1st.
• The next couple of days saw silver prices remaining unchanged and the metal traded at Rs.40,390 per kg with steady industrial demand.
• Silver price in Bhubaneswar surged to Rs.41,075 per kg on the 4th as the US dollar weakened.
• Silver rates in Bhubaneswar rose further to Rs.41,495 per kg on the 6th as industries and coin manufacturers ramped up their purchases to boost their inventories.
• However, an uncharacteristic decline in demand resulted in the metal prices dropping to Rs.41,130 per kg on the 7th.
• News on North Korea’s confirmation on its successful two-stage thermonuclear weapon test broke out. This resulted in investors gravitating towards investments considered safer. This led to silver rates rising to Rs.41,900 per kg on the 9th.
• Rates remained unchanged at Rs. 41,900 per kg on the next day as well, thanks to steady safe-haven investments made around the world.

September 2017 - Week 2 (11th-17th)

• The second week witnessed the metal prices dropping towards the end with fluctuating demand and uneven global cues.
• Silver opened trading at Rs.41,075 per kg when the week began, which dropped to Rs.41,030 per kg the next day owing to reduced local demand from coin makers.
• With the US-North Korea overseas relations intensifying, silver prices in Bhubaneswar bounced to Rs.41,075 per kg on the 13th.
• Reduced demand from industrial units and coin manufacturers despite positive global trends resulted in silver prices dropping to Rs.40,890 per kg on the 14th.
• The rest of the week saw the silver rate in Bhubaneswar unchanged at Rs.40,980 per kg with steady demand from coin manufacturers.

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

• The third week opened with the industrial metal trading at Rs.40,440 per kg on the 18th.
• But, prices dropped against the strong US dollar rates and silver was priced at Rs.39,680 per kg on the 19th.
• Safe-haven investments rose further on the 20th after tensions escalated between the US and North Korea. This resulted in silver trading at Rs.40,060 per kg.
• However, reduced local demand in the city resulted in silver rates in Bhubaneswar dropping to Rs.39,670 per kg on the 21st.
• Prices remained unchanged for the remainder of the week, thanks to low but steady demand from industries and coin manufacturers.

September 2017 - Week 4 (25th-30th)

• Silver was priced at Rs.39,670 per kg on the 25th, when the week began.
• Silver price in Bhubaneswar surged to Rs.40,520 per kg as the arrival of Dussehra spurred silver purchases in Bhubaneswar on the 26th.
• Strong dollar rates coupled with an improving US economy proved to be unfavourable for the silver trade and the white metal rates dropped to Rs.39,780 per kg on the 27th.
• Silver price in Bhubaneswar dropped further to Rs.39,530 per kg on the 28th as local demand declined with uneven global cues.
• Thanks to steady and sustained demand from the coin makers and industrial units, prices remained unchanged at Rs.39,530 per kg until the 30th.

August 2017 - Week 1 (1st-6th)

• Silver trade declined significantly during the first week of August.
• Silver traded at Rs.38,925 per kg on the 1st when the week began.
• The demand for the metal dropped and silver was priced at Rs.38,455 per kg on the 2nd as the US dollar began to recoup.
• Silver prices in Bhubaneswar dropped furthermore to Rs.37,965 per kg on the 3rd as investors deferred purchases awaiting the US Federal Reserve meetings’ verdict.
• An increase in demand from industries and coin makers led prices to rise to Rs.38,120 per kg on the 4th.
• Silver rates in Bhubaneswar touched a monthly low figure of Rs.37,235 per kg on the 5th as demand for the metal was cut down by investors in the Asian markets.
• The week ended with silver trading at Rs.37,235 per kg on the 6th.

August 2017 - Week 2 (7-13):

• The week began with silver trading at Rs.37,295 per kg on the 7th.
• With demand for the metal increasing in domestic trade, silver rates in Bhubaneswar rose to Rs.38,345 per kg on the 8th, but dropped to Rs.37,965 per kg on the 9th.
• However, the conflicts between the US and North Korea which seemed to affect the US economy gave silver the push it needed and the metal was priced at Rs.38,925 per kg on the 10th.
• Silver rates in Bhubaneswar rose again to Rs.39,530 per kg on the 11th due to an increase in demand from industries and coin makers.
• Positive global trade priced the metal at Rs.39,670 per kg on the 12th.
• The week ended with silver trading at Rs.39,670 per kg, thanks to steady demand for the metal.

August 2017 - Week 3 (14th-20th)

• The third week saw silver rates fluctuate during the third week.
• Silver traded at Rs.39,670 per kg on the 14th, when the week began.
• Prices remained the same at Rs.39,670 per kg on the 15th, thanks to steady demand from investors.
• With the US economy recovering, silver rate in Bhubaneswar dropped to Rs.38,815 per kg on the 16th.
• However, the US-North Korea conflicts led to silver rates rising to Rs.39,530 per kg on the 17th.
• A slight decline in global demand brought down the silver prices to Rs.39,115 per kg on the 18th.
• Prices remained the same for the rest of the week, thanks to steady demand in the domestic trade.

August 2017 - Week 4 (21st-27th)

• The week started off with silver trading at Rs.39,115 per kg on the 21st.
• Steady demand for the metal over the next two days resulted in silver being priced at Rs.39,265 per kg on the 22nd and the 23rd.
• With industries and coin makers increasing their purchases, silver rate in Bhubaneswar rose to Rs.39,355 per kg on the 24th.
• However, a decline in demand for the metal resulted in silver prices in Bhubaneswardropping to Rs.38,995 per kg on the 25th.
• The rest of the week saw silver trading at Rs.38,995 per kg, thanks to steady domestic trade.

August 2017 - Week 5 (28th-31st)

• Silver trade seemed to improve in the last week of August with the metal trading at Rs.39,435 per kg on the 28th.
• With Hurricane Harvey taking its toll on the US economy, silver rate in Bhubaneswar touched a monthly high figure of Rs.40,190 per kg on the 29th.
• Steady demand resulted in silver trading at Rs.40,190 on the 30th as well, before dropping to Rs.40,040 per kg on the last day of the week.

July 2017 - Week 1 (1st to 9th)

• Silver opened at Rs.38,640 per kg when the month of July began.
• Throughout the week, the demand for the white metal in Bhubaneswar remained weak due to weak trend overseas and poor industrial demand.
• The highest silver price for the month of July in Bhubaneswar was Rs.38,690 on the 3rd. The reason for the increase can be attributed to the increase in demand from the coin makers who were trying to take advantage of a comparatively cheaper price trend.
• On the 4th, prices dropped by nearly Rs.1,000 per 1 kg silver to Rs.37,705 per kg as industrial units limited their risk by investing in the metal less and less.
• As the fall in prices pushed coin makers to invest a little more, silver rates went up to Rs.37,800 per kg on the 5th.
• Silver closed at Rs.37,115 per kg.

July 2017 - Week 2 (10th - 16th)

• On the 10th of July, silver prices recorded the lowest rate for the month when the white metal traded at Rs.36,035 per kg. This was mainly due to poor demand from industrialists and coin makers.
• However, in the next few days the demand for silver picked up slightly, silver prices went up to Rs.36,270 per kg and then to Rs.36,920 per gram on the 12th of the month.
• As there was a steady rise in demand during this week, silver prices went up to Rs.37,180 per kg on the 16th when the week ended.

July 2017 - Week 3 (17th - 23th)

• Many fluctuations were seen in the 3rd week of July.
• Silver opened at Rs.37,180 per kg on the 17th of the month.
• Silver prices increased to Rs.37,600 per kg on the 18th of July.
• As demand from industrial units and coin makers went up, silver prices increased to Rs.37,705 per kg the next day.
• Due to some positive global cues and local demand, prices went up to Rs.37,800 per kg on the 21st and increased again on the 22nd to trade at Rs.38,005 per kg.

July 2017 - Week 4 (24th - 31st)

• On the 24th of the month, silver prices were recorded at Rs.38,120 per kg which increased slightly to Rs.38,230 per kg on the 25th of July.
• The 27th saw silver rates reach Rs.38,690 per kg - which was the highest silver rate for the month.
• On the 29th, silver prices were recorded at Rs.38,460 per kg and increased to Rs.38,640 per kg on the last day of the month.
• Despite some significant ups and downs in trading and demand, silver price trends remained unchanged in Bhubaneswar .

June ‘17- Week 1 (1st to 4th)

• Silver was priced at Rs.40,285 per kg on 1 June as demand was steady due to increased demand from local industrial units as well as coin makers.
• Silver rate in Bhubanesawar dipped to Rs.39,950 per kg on 2 June as overseas demand dipped marginally due to a slight rise in the dollar rate.
• Political instability in the United States led to stock markets falling which prompted an increase in demand for silver which rose to Rs.40,670 per kg on 3 & 4 June.

June ‘17- Week 2 (5th to 11th)

• Prices did not change as the week began with silver priced at Rs.40,670 per kg on 5 & 6 June.
• A marginal increase in demand as well as internal political turmoil in the United States led to higher demand for the industrial metal, which traded at Rs.40,890 per kg on 7 June.
• Demand began to slip as the week progressed as the dollar bounced back following positive U.S. jobs data, with silver falling to Rs.40,060 per kg on 10 June.
• There was no change in the price of silver as the week ended, with international buyers staying away from bullion due to its high cost.

June ‘17- Week 3 ( 12 to 18)

• There was a further drop in the price of silver as industrial demand was sluggish and local demand stagnated.
• Silver was priced at Rs.39,680 per kg on 12 June before dropping to Rs.39,115 per kg on 14 June as investor sentiment was strong across Europe and America.
• The recovery of the U.S. dollar and the possibility of a Federal rate hike bolstered the stock markets as investors and industry, leading to silver prices falling to Rs.38,995 per kg on 16 June.
• The week ended with silver priced at Rs.38,460 per kg on 17 & 18 June due to poor demand from local and overseas markets.

June ‘17- Week 4 (19th to 25th)

• Volatile markets led to higher demand for bullion which bolstered demand for silver in the fourth week of June, as the metal opened the month at Rs.38,640 per kg on 19 June.
• Demand fluctuated with the price dipping to Rs.38,455 per kg on 21 June due to a drop in demand from coin makers.
• Prices rose to Rs.38,690 per kg on 23 June as the political turmoil in the United States once again led to its markets faltering.
• The week ended with silver priced at Rs.38,925 per kg on 25 June as local demand spiked ahead of the implementation of GST.

June ‘17- Week 5 (26th to 30th)

• Demand was on the increase in the last week as industrial units raised orders prior to GST coming into force, with silver priced at Rs.38,925 per kg on 26 June.
• Demand slipped to Rs.38,455 per kg on 27 June but prices recovered as the week progressed.
• Overseas demand was on the increase as the U.S. dollar rate dipped in light of renewed allegations of collusion between the Trump campaign and the Russians.
• Silver rose to Rs.39,115 per kg on 28 June before ending the month at Rs.38,995 per kg on 30 June.

March ‘17 - Week 1 (1st to 5th)

• On the 1st day of the month, silver traded at Rs.43,970 per kg. A number of variations were noted in the rate of silver as the March progressed.
• Silver was priced at Rs.44,100 per kg due to steady demand from overseas and industrialists. This was also the highest at which silver traded for the month of March in Bhubaneswar.
• Price of silver rose to Rs.43,295 on the 4th of March as demand started to increase, and they remained stable on the next day as well to close the week at the same price.

March ‘17 - Week 2 (6th to 12th)

• Silver price in Bhubaneswar on the first day of the second week of March was Rs.42,925 – with no rise being recorded in from the price on the closing day of the first week of the month.
• A fall on the 10th of March saw prices reduce to Rs.40,670 per kg, after which another reduction saw rates drop to Rs.40,520 per kg on the 11th.
• Silver Price in Bhubaneswar remained steady on the final day of the second week of March due to stable demand and the price of silver on the last day of the week was Rs.40, 520 per kg.

March ’17- Week 3 (13th to 19th)

• Price of this precious metal on the first day of the third week of the month was Rs.40,760 per kg due to minor fall in the value of the U.S.Dollar.
• Silver rate in Bhubaneswar reduced on the 14th of March, trading at Rs.40,440 per kg.
• On the 15th of the month, prices fell to a monthly low at Rs.40,040 per kg, after which an increase saw them rise to Rs.40,890 per kg on the 16th.
• A marginal decrease on the 17th saw prices fall to Rs.40,815 per kg and rates remained stable for the next three days, closing the third week of March at Rs.40,815 per kg.

March ’17- Week 4 (20th to 26th)

• On the second last week of the month, silver was priced at Rs.41,075 per kg, which was relatively higher than the rates noted during the previous week. However, the same could not be said for the rates noted during the next day.
• Price of silver in Bhubaneswar on the 21st of March, trading at Rs.40,725 per kg due to fluctuations in demand.
• Due to a rise in demand, silver closed the penultimate week of March on a strong note as price of this metal increased to Rs.41,340 before rising again and closing the week at Rs.41,435 per kg.

March ’17 – Week 5 (27th to 31st)

• On the first day of the last week of March, silver traded at Rs.41,900 per kg in Bhubaneswar which was higher than the rates seen during the previous week. This is due to a rise in the demand for silver in domestic markets.
• As the demand from coin makers increased, the rate of silver followed suit as well and traded at Rs.42,115 per kg on the 28th of March. The rate was noted until the 29th of March.
• Due to continued demand from jewellers, silver price increased to Rs.42,435 per kg.
• However, this demand was not sustained and on the last day of the month, silver closed at Rs.42,115 per kg recording a decline of 4.21%.

February ‘17 - Week 1 (1st to 5th)

• Owing to a fall in demand from coin makers and industrialists in local markets, silver rates were somewhat at the beginning of the first week of February.
• The price of the metal was recorded at Rs.42,520 per kg on the 1st of February, after which it increased by Rs.120 to Rs.42,640 on the 2nd of the month.
• A decline in demand contributed to a fall in price as silver traded at Rs.42,115 per kg on the 3rd of February.
• Rates increased by marginally towards the end of the week, with silver trading at Rs.42,355 per kg on the 4th of February.
• Rates remained unchanged on the 5th of February and closed the week at Rs.42,355 per kg, thereby marking a decline of Rs.165 between the first and the fifth of the month.

February ‘17 - Week 2 (6th to 12th)

• On the first day of the second week of February, silver prices were recorded at Rs.42,520 per kg, with the prices increasing by Rs.410 to Rs.42,930 per kg on the 7th of the month due to an increase in demand from coin makers and industrialists.
• Fluctuations in price were in order as the week progressed, with silver trading at Rs.42,950 per kg on the 9th of the month.
• A significant decline in prices followed a day later and resulted in prices falling to Rs.42,375 per kg on the 10th of February because of a decline in industrial demand.
• On the 11th of February, an increase in domestic demand led to a slight incline in prices as the metal traded at Rs.42,570 per kg.
• Prices remained stable on the last day of the week, with silver trading at Rs.42,570 per kg on the 12th of February.

February ’17- Week 3 (13th to 19th)

• An increase in the value of the U.S. Dollar meant that the demand for silver was muted as the metal traded at Rs.43,280 per kg on 13th February.
• Prices fell by Rs.250 on the second day of the week to settle at Rs.43,030 per kg after which they increased consistently over the next three days due to a sudden decline in the value of the U.S. Dollar.
• Silver prices stood at Rs.43,115 per kg on the 15th of the month, after which they rose to Rs.43,385 per kg on the 16th, before increasing again to Rs.43,520 per kg on the 17th February.
• Consistent domestic demand ensured that prices were stable as silver traded at Rs.43,400 per kg on the 18th of the month.
• The week ended with silver trading at Rs.43,400 per kg on the 19th of February, marking an increase of Rs.120 over the course of the seven-day period.

February ’17- Weeks 4 & 5 (20th to 28th)

• Uncertainties in the market in addition to the value of the US Dollar contributed to minor fluctuations over the first few days of the last two weeks of February.
• Silver was seen trading at Rs.43,270 on the 20th of February, after which they increased marginally to settle at Rs.43,285 on the 21st before falling by Rs.45 to Rs.43,240 on the 22nd of the month.
• A marginal increase in demand from industrialists contributed to a rise in silver prices as the metal traded at Rs.43,295 on the 24th of February.
• Bullion was subject to an increase in demand from the 25th of the month thanks to a decline in market value owing to the implementation of several different measures that had the potential to affect the US market in the long term.
• Silver prices surged to Rs.43,910 per kg on the 25th of February before remaining stable for another day, and then rose further to Rs.44,110 per kg on the 27th of the month.
• Silver prices rose again on the final day of the month and the metal closed February trading at Rs.44,165 per kg, thus recording an overall increase of 3.86% over the course of 28 days.

January ‘17 - Week 1 (1st to 7th)

• Silver prices in Bhubaneswar were high in the first week of January as demand from industrial units increased.
• Silver was priced at Rs,39,035 per kg on 1st January and rose to Rs.39,530 per kg on 3rd January due to an increase in local demand as well as a marginal increase in demand from coin makers.
• Silver traded at Rs.40,670 per kg on 5th January as market fluctuations led to greater demand for bullion, which pushed prices higher.
• Silver fell as the week ended, trading at Rs.40,390 per kg on 7th January to record a weekly increase of Rs.1,355 per kg.

January ‘17 - Week 2 (8th to 14th)

• Steady demand from the industrial sector kept silver prices high, with the metal trading at Rs.40,390 per kg on 8th January before rising to Rs.40,520 per kg on 9th January.
• Fluctuations in the U.S. Dollar rate as well as unstable markets led investors to make higher investments in bullion, resulting in silver prices rising to Rs.41,295 per kg on 11th January.
• A slight dip in demand led to silver trading at Rs.41,030 per kg on 13th January.
• Silver prices recovered as the week ended, trading at Rs.41,230 per kg on 14th January to record an increase in price of Rs.840 per kg over the week.

January ’17- Week 3 (15th to 21st)

• Prices fluctuated marginally in the third week, but increased overall due to an increase in industrial demand.
• Silver was priced at Rs.41,230 per kg on 15th January, with the price rising to Rs.41,415 per kg on 17th January on increasing demand from coin makers.
• Fluctuations across U.S. markets led to increased demand for silver, which took the price to Rs.41,990 per kg on 18th January.
• A strengthening of the U.S Dollar led to prices dipping slightly, as silver traded at Rs.41,675 per kg on 20th January.
• Prices recovered as the week drew to a close, trading at Rs.41,930 per kg on 21st January.

January ’17- Weeks 4 & 5 (22nd to 31st)

• Market conditions led to prices fluctuating in the last two weeks of January, with silver trading at Rs.41,930 per kg on 22nd January.
• Prices rose to a monthly high of Rs.42,180 per kg on 23rd January as industrial demand from Asia boosted prices.
• The U.S. Dollar strengthened on the possibility of a U.S. Fed rate hike, which led to a decrease in demand for bullion.
• Prices fell to Rs.41,435 per kg on 26th January as industrial demand from Asia fell following Lunar New Year.
• Silver traded at Rs.41,075 per kg on 27th January before prices recovered as the month ended.
• Silver traded at Rs.41,980 per kg on 31st January, recording an overall increase of 7.54%.