• Silver Rate in Bhubaneswar

    Daily Silver Rates
    Date Silver (1 gram) Bar Silver (1 Kg)
    11 Dec 2018 ₹ 40.7 ₹ 40,700
    10 Dec 2018 ₹ 40.3 ₹ 40,300
    09 Dec 2018 ₹ 40.3 ₹ 40,300
    08 Dec 2018 ₹ 40.3 ₹ 40,300
    07 Dec 2018 ₹ 39.6 ₹ 39,600
    06 Dec 2018 ₹ 39.5 ₹ 39,500
    05 Dec 2018 ₹ 39.6 ₹ 39,600
    04 Dec 2018 ₹ 39.6 ₹ 39,600
    03 Dec 2018 ₹ 39 ₹ 39,000
    02 Dec 2018 ₹ 38.5 ₹ 38,500

    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Silver Price in Bhubaneswar

    Silver is highly sought-after in Bhubaneshwar due to various factors including it being viewed as a conventional form of investment. Silver is extensively used in the form of silverware, gifts during festive occasions and weddings among others. Silver is sought by people across different age groups. Jewellery exhibitions are often held attracting large crowds across the city. Different items of jewellery such as bajubandh, necklaces, bracelets and rings are sold. Handcrafted jewellery by expert craftsmen from Cuttack are also much in demand.

    For many customers, silver is a viewed as an effective hedge against inflation. Small investors in Bhubaneswar are more keen on silver than the yellow metal given that the former is comparatively more affordable. Silverware, coins and articles used in rituals is also commonplace. The prices of silver in Bhubaneswar depends on various national and international factors such as correction in the yellow metal owing to a slowdown in China and so forth.

    Trend of Silver Rate in Bhubaneswar 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 Bhubaneswar for August 2018 (rates per kg)

    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 from 24 August
    Overall Monthly Performance Decline
    Percentage Change -2.65%

    August 2018 - Week 1 (1 - 05):

    • The price of silver at the start of August 2018 stood at Rs.41,400 per kg. This was the highest the metal stood at for the entire month.
    • On 4 August, the price of the metal increased by Rs.200 per kg to Rs.41,300. High demand for the metal was recorded during this time.
    • On 5 August, the metal traded at Rs.41,300 per kg, unaffected by the surge in demand from the previous day.

    August 2018 - Week 2 (6 - 12):

    • Silver was trading at Rs.41,300 per kg in Bhubaneswar on 6 August, the same as it did at the end of week 1.
    • On 9 August, silver experienced a hike in its value as it stood at Rs.41,400 per kg, due to the decline in the value of the dollar. This was also the highest price point of silver in the city for the month of August 2018.
    • Week 2 ended on a high as silver in Bhubaneswar rose in value to Rs.41,200 per kg.

    August 2018 - Week 3 (13 - 19):

    • At the start of week 3, silver began trading at Rs.41,200 per kg, the same as it had been priced at the end of week 2.
    • US recorded a positive trend in their economy after they released their employment data. This caused the price of silver to decline to Rs.39,900 per kg on 16 August.
    • Bhubaneswar then enjoyed a rise in silver price, and at the end of week 3, silver was priced at Rs.40,000 per kg.

    August 2018 - Week 4 (20 - 26):

    • At the start of week 4, silver began to trade at Rs.40,000 per kg, unaltered from what it was priced at the end of week 3.
    • On 23 August, silver dipped in value while the dollar rose in value in comparison to other currencies. On this day, the metal was trading at Rs.39,900 in Bhubaneswar.
    • The silver price in the city increased during the end of week 4 to Rs.40,200 per kg.

    August 2018 - Week 5 (27 - 31):

    • Silver in the city commenced trading at Rs.40,200 per kg at the start of week 5.
    • Domestic demand for the metal from local industries and jewellers rose during the course of week 5, thereby increasing the price of silver in Bhubaneswar.
    • Silver experienced a negative trend of -2.65% for the month of August 2018. The month ended with silver in the city being priced at Rs.40,300 per kg.

    Trend of Silver Rate in Bhubaneswar 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 on 9 and 10 July
    Lowest Rate in July Rs.41,200 per kg on 28 and 29 July
    Overall Monthly Performance Decline
    Percentage Change -3.27%

    July 2018- Week 1 (1-7)

    • Silver opened at Rs.42,800 per kg on 1 July 2018.
    • Though the price of silver rose briefly towards the end of the first week in Bhubaneswar, the overall trend of silver was declining.
    • After remaining stable on 2 July, silver prices dropped to Rs.42,400 per kg on 3 July as the demand for the metal from local coin makers and traders fell ahead of the Federal Reserve testimony.
    • As fears over the impact of the ongoing trade war between the US and China led to markets falling steeply, it worked positively for silver. Silver prices rose to Rs.42,800 per kg on 4 July.
    • However, the white metal prices could not rise as the demand for the metal fell. Silver closed at Rs.42,700 per kg on 7 July.July 2018- Week 2 (8-14)
    • On 8 July, a drop of Rs.100 per kg was noted in the prices of the metal. Silver prices fell and traded at Rs.42,600 per kg on 8 July due to muted demand from local players.
    • Prices rose to Rs.42,900 per kg on 9 July as geopolitical tensions and the growing tariff war led investors to look to bullion as a safe-haven asset though the local demand did not pick up.
    • Though the international market for the precious metal looked positive, due to poor demand, silver prices could not sustain and fell to Rs.42,200 per kg on 12 July.
    • There was a slight recovery as the week ended, with silver priced at Rs.42,300 per kg on 14 July. However, the hike was not significant.

    July 2018- Week 3 (15-21)

    • At the beginning of week 3, silver continued to trade at Rs.42,300 per kg as the demand for the metal was stable.
    • Though demand for the metal played a huge role in determining silver prices, the value of the US dollar played a crucial role in week 3. Following the positive economic outlook indication, speculation of a rate hike led to the dollar rising as markets also surged on bullish sentiment.
    • Silver prices fell by Rs.200 per kg and traded at Rs.42,100 per kg on 17 July.
    • As the value of the US dollar increased, silver prices dropped sharply to Rs.41,700 per kg on 18 July. Poor demand for the metal from local industrial units also played a role in falling silver prices.
    • Minor fluctuations in the price were observed before silver ended the week at Rs.41,700 per kg on 21 July.

    July 2018- Week 4 (22-31)

    • As the retail demand for the metal picked up, silver rose by Rs.100 traded at Rs.41,500 per kg on 25 July.
    • Silver prices increased on 26 July to Rs.41,800 per kg as the value of the US dollar fell. Though the decline in the US dollar rate played positively for silver prices, poor demand for the metal caused silver rates to fall.
    • As on 28 - 29 July, the price of silver stood at Rs.41,200 per kg. This was the lowest silver rate recorded in the month of Bhubaneswar for the month of July.
    • By the end of the month, the price of silver increased as dollar rates dropped slightly. The metal stood at Rs.41,400 per kg on 30 - 31 July.
    • Overall, silver rates in Bhubaneswar for the month of July fell by 3.27%.

    Trend of Silver Rate in Bhubaneswar 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 to 5 June
    Overall Monthly Performance Steady
    Percentage Change 0.00%

    June 2018 - Week 1 (1 - 10):

    • Silver was priced at Rs.42,800 per kg when trading started for the month of June. Rates were on the lower side this month as the US dollar seemed to be rising consistently.
    • As cues from the international market remained weak, and local demand was also on the fall, silver rat in Bhubaneswar went down to Rs.42,600 per kg on the 2nd.
    • There was low yet steady demand as a result of which silver traded at Rs.42,600 per kg from the 3rd to the 5th.
    • With the relationship between the G7 nations remaining weak ahead of the summit, the dollar collapsed. This caused silver rates to rise up to Rs.43,900 per kg on the 6th of June.
    • After the dollar improved, silver rates fell to Rs.43,800 per kg on the 7th and then to Rs.43,600 per kg on the 8th of the month.
    • Over the final two days of this week, silver traded at Rs.43,700 per kg as demand from local industries and coin makers were on steady.

    June 2018 - Week 2 (11 - 17):

    • When the second week of June began on the 11th, silver was priced at Rs.43,900 per kg - a Rs.200 incline from the previous day’s rates.
    • This surged to Rs.44,000 per kg as demand for the metal improved, before falling to Rs.43,900 per kg the subsequent day after a buoyant dollar curbed the rise of the precious metal demand.
    • On the 15th, silver rate in Bhubaneswar went up to Rs.45,000 per kg - the month’s highest rate - as certain quarters of the market were cautious about the upcoming Fed meeting.
    • Once it was made clear that the outcome was positive and interest rate hikes were being considered, silver rates dropped to Rs.44,300 per kg.
    • When the week ended, silver rates were recorded at Rs.44,300 per kg.

    June 2018 - Week 3 (18 - 24):

    • The third week of June opened with silver trading at Rs.43,400 per kg - a Rs.900 drop from the previous day’s rates.
    • This dropped to Rs.43,500 per kg on the 19th before going down further to Rs.43,100 per kg on the subsequent day.
    • Silver prices continued to fall with the metal hitting Rs.42,900 per kg on the 21st, before a steady demand from industries helped stabilise the prices.
    • When the week ended, silver rates were still holding at Rs.42,900 per kg.

    June 2018 - Week 4 (25 - 30):

    • The final week of silver trading in Bhubaneswar started with the metal being priced at Rs.43,200 per kg - a Rs.300 rise from the previous day.
    • This happened because the US dollar fell slightly which the investors took advantage of by investing in silver and other precious metals.
    • As the US dollar began to climb, silver began to suffer and fell consistently over the remaining days of the month.
    • The metal traded at Rs.43,000 per kg on the 28th which then fell to Rs.42,800 per kg on the 29th as cues from the global market were weak.
    • When the month ended, silver was still priced at Rs.42,800 per kg.
    • A 0% change was recorded this month compared, with plenty of fluctuations being recorded over the four week period.

    Trend of Silver Rate in Bhubaneswar 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):

    • Silver was priced at Rs.42,000 per kg when trading started for the month of May.
    • Due to a steady rise in demand, silver rates went up to Rs.42,600 per kg on the 3rd of May. This rise in purchases was due to the US-China trade war concerns.
    • The, then ongoing, hot and cold talks between North Korea and the US also helped with the price increase.
    • After the US dollar regained some of its value, the white metal’s prices decreased. On the final day of this week, silver was seen trading at Rs.42,600 per kg.

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

    • This week saw silver prices drop during the initial days before increasing as the days progressed.
    • On the 7th of May, the white metal was priced at Rs.43,200 per kg as there was a steady demand for the metal in the market.
    • However, rates went down to Rs.43,000 per kg after the US Dollar started on a upward path and gained against various world currencies.
    • As the tussle between the US and North Korea seemed to intensify, prices of precious metals were on the rise.
    • Silver prices also recorded a slight rise with the metal trading at Rs.43,100 per kg on the 9th and then at Rs.43,300 per kg on the subsequent day.
    • With local demand, particularly from jewellers and industries increasing, silver rates in Bhubaneswar went further up to Rs.43,500 per kg on the 11th.
    • For the remaining two days of this week, the white metal continued to trade at Rs.43,500 per kg.

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

    • Third week’s trading started with silver opening at Rs.43,600 per kg on the 14th as there were speculations regarding the North Korea-US summit.
    • On the 15th, the white metal was priced at Rs.43,300 per kg which then dropped to Rs.43,000 per kg as demand weakened locally amidst poor global cues.
    • Prices went up to Rs.43,200 per kg on the 17th - a brief rise - before falling back to Rs.43,000 per kg on the 18th as the US dollar rose against other currencies.
    • On the final day of this week, the metal was priced at Rs.43,100 per kg as there was a low yet steady demand in the local market.

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

    • This week saw silver prices rise steadily as demand surged ahead of strong global cues.
    • On the 21st of May, the white metal was priced at Rs.43,100 per kg. As tensions rose in key regions in Europe and the Middle East, demand for safe haven assets also increased.
    • The 23rd saw silver trade at Rs.43,500 per kg before dropping by Rs.200 to Rs.43,300 per kg on the 24th of May.
    • For the remaining few days of the week, silver rates remained steady and the metal was seen trading at Rs.43,600 per kg at the time of closing.

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

    • The final week of May saw silver opening at Rs.43,000 per kg - a Rs.600 decline from the previous day’s rates.
    • This rose slightly to Rs.43,100 per kg on the 29th as demand also decline ahead of increased buying from the local market.
    • After US President Donald Trump confirmed that the cancelled summit would go ahead as planned, silver rates in Bhubaneswar dropped further to Rs.42,900 per kg.
    • A surge in demand, though, helped silver close on a slightly high note of Rs.43,100 per kg. Price trends recorded a 2.61% increase this month, thanks to strong demand from the domestic market.

    Trend of Silver Rate in Bhubaneswar 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):

    • The week began in Bhubaneswar with silver trading at Rs.41,400 per kg on the 1st with consistent domestic demand brought about by strong industrial orders.
    • The dollar weakened over the next couple of days with the US-China trade concerns and the US-North Korean tensions rising, leading to an increased investor demand for safe-haven assets such as the bullion.
    • Positive trends overseas coupled with steady domestic demand led to silver being priced at Rs.41,600 per kg on the 3rd
    • However, with the US dollar recovering from the initial shock, demand for the metal plunged. This led to silver being priced at Rs.41,100 per kg on the 6th.
    • The week came to an end with the industrial metal trading at Rs.41,200 per kg on the 7th amid firm trend overseas.

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

    • Silver price in Bhubaneswar were greatly influenced by the unevenly performing equities market and unsteady dollar performances during the week.
    • Silver was recorded trading at Rs.41,200 per kg when the week began amid firm overseas trends.
    • With the US-North Korean relations worsening, investor demand for the bullion surged. This led to rates rising to Rs.41,700 per kg on the 11th.
    • The 12th saw silver rate in Bhubaneswar surging to Rs.42,000 per kg as the US dollar lost against other apex currencies, pushing demand higher for the metal.
    • Trading concluded for the week with the industrial metal trading at Rs.41,900 per kg on the 15th with subdued but steady domestic demand amid positive global cues.

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

    • Trading commenced for the week with the white metal priced at Rs.42,100 per kg on the 16th with markets participants speculating over the possible impact of the US-led missile strikes on Syria.
    • The poorly performing dollar and losing equities resulted in demand surging in the international markets.
    • Strong demand coupled with firm trend overseas led to silver rates holding at Rs.43,700 per kg on the 19th.
    • silver rate in Bhubaneswar remained on the stronger side with strong international trends pushing demand higher for much of the week.
    • However, with the US dollar regaining lost ground against other apex currencies, silver rates dropped to Rs.41,900 per kg on the 22nd.

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

    • The final week witnessed silver price in Bhubaneswar rising initially before plunging due to a decline in industrial demand for the metal.
    • With investors awaiting the US central bank meeting and the nation’s industrial data, demand for the metal dropped towards the end of the week.
    • Trading opened for the week with the industrial metal priced at Rs.43,700 per kg on the 23rd amid positive overseas trends.
    • However, with the US dollar recovering, investor demand for the metal dropped and silver was recorded trading at Rs.43,000 per kg on the 26th.
    • Silver rate in Bhubaneswar remained untouched at Rs.42,800 per kg for the next couple of days on account of subdued but steady demand from industrial units and coin makers.
    • The month came to an end with silver rates in Bhubaneswar holding at Rs.42,300 per kg on the last day, registering an increase of 2.17% in prices during the month.

    Trend of Silver Rate in Bhubaneswar 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)

    • Silver prices in Bhubaneswar were on the rise on positive market developments as well as consistent demand from industrial units.
    • Trading opened at Rs.41,100 per kg as the month began, with steady demand due to consistent offtake from industrial units.
    • Prices climbed to Rs.41,400 per kg on 2 March on positive market cues and a declining U.S. Dollar.
    • Coin makers also increased orders which led to a rise in demand for the industrial metal as silver prices rose to Rs.41,600 per kg on 4 March.

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

    • The second week saw silver prices continue to rise on positiv market trends.
    • Silver was priced at Rs.41,700 per kg on 5 March as domestic demand rose on positive international trends.
    • Prices dropped to Rs.41,400 per kg on 6 March before a revival in interest led to prices rising to Rs.41,900 per kg on 7 March.
    • A declining dollar and geopolitical tensions in the U.S. led to markets falling and investors seeking safe-haven assets like bullion.
    • Prices regularised during the week as silver dropped to Rs.41,300 per kg on 9 March.
    • Prices recovered as the week ended on 11 March, trading at Rs.41,600 per kg.

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

    • The third week saw a gradual decline in demand for silver which was reflected in the price of the industrial metal.
    • Silver was priced at Rs.41,600 per kg on 12 March on stable demand though local industrial demand was on the decline due to a rise in the dollar value.
    • Silver dropped to Rs.41,600 per kg on 13 March on reduced demand from coin makers while equity markets stabilised on positive market cues.
    • The surprise firing of the U.S. Secretary of State led to a rise in silver demand, which rose to Rs.41,700 per kg on 14 March.
    • Demand fell for the rest of the week on a strengthening dollar.
    • The week ended with silver priced at Rs.41,100 per kg on 18 March following a steep fall in demand.

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

    • Silver prices fell as the week began, trading at Rs.41,000 per kg on 19 March on poor international demand.
    • Prices fluctuated on conflicting market cues as silver rose to Rs.41,200 per kg on 20 March on unsteady equity markets.
    • Geopolitical tensions in the U.S. led increasing interest in bullion as silver prices rose to Rs.41,500 per kg on 22 March.
    • Local demand rose as interest in silver peaked overseas which kept silver at Rs.41,600 per kg on 23 March.
    • Local demand remained constant as the week ended with silver priced at Rs.41,600 per kg on 25 March.

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

    • Silver was priced at Rs.41,600 per kg on 26 March as industrial offtake was bolstered by weak equity markets.
    • Prices rose to Rs.41,800 per kg on 27 March as markets plunged on the possibility of a trade war with China due to prohibitive trade tariffs.
    • Demand for the industrial metal slipped as the week progressed as local coin makers reduced offtake due to a rise in the dollar rate, making silver imports more expensive.
    • Reducing industrial demand resulted in silver prices dropping to Rs.41,400 per kg on 29 March as prices remained unchanged for the rest of the week.
    • In spite of a fall in demand towards the end of the month, silver prices rose by 0.72% during the month.

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

    Parameters Silver price (per kg)
    February 1 Rate Rs.42,600 per kg
    February 28 Rate 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 (1st - 4th):

    • The month began in Bhubaneswar with the white metal trading at Rs.42,600 per kg on the 1st after the US dollar weakened ahead of the US employment data. This was also the lowest monthly figure recorded in the city.
    • Silver rate in Bhubaneswar remained unaltered at Rs.42,600 per kg on the 2nd owing to strong domestic demand amid the positive global cues.
    • However, the US dollar index rose against other emerging currencies after the US payrolls data proved to be stronger than expected. This led to silver price in Bhubaneswar plunging to Rs.41,700 per kg on the 3rd.
    • Thanks to the subdued but steady demand from industries and coin manufacturers, the rest of the week saw the industrial metal prices holding steady at Rs.41,700 per kg on the 4th.

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

    • When trading commenced for the second week,  silver was priced relatively lower at Rs.41,500 per kg on the 5th after demand for the metal declined amid weak global cues.
    • Though rates rose to Rs.41,900 per kg the next day, silver price in Bhubaneswar plunged to Rs.41,400 per kg on the 7th with the US dollar index rising against other apex currencies in the international market.
    • Poor trends overseas compounded by weak demand resulted in silver rate in Bhubaneswar dropping further to Rs.40,800 per kg on the 8th.
    • The 9th saw the white metal rates rebounding to Rs.41,000 per kg following an unexpected incline in domestic demand despite the poor trend overseas.
    • However, with the dollar and equities market performing well in the international trade, silver rates in Bhubaneswar plummeted to Rs.40,600 per kg on the 10th. This was also the lowest recorded monthly figure in the city.
    • The week concluded with the industrial metal trading at Rs.40,600 per kg on the 11th with poor demand amid the weak trends overseas.

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

    • Poor dollar performances coupled with weakly performing equities resulted in silver price in Bhubaneswar rising considerably during the course of the week.
    • The week began with silver priced relatively higher at Rs.40,900 per kg on the 12th with the US dollar losing ground ahead of the US inflation data.
    • The next couple of days saw silver rate in Bhubaneswar rising after markets awaited the inflation data for clues on the pace of Fed rate hikes during the year. The white metal was recorded trading at Rs.41,300 per kg on the 13th before rising to Rs.41,400 per kg on the 14th amid the positive trends overseas.
    • Prices surged to Rs.41,800 per kg on the 15th before plunging to Rs.41,700 per kg on the 16th with the US dollar strengthening following the US inflation data.
    • With investors and traders gravitating on safe-haven assets to hedge against inflation concerns, demand for the metal surged. This led silver prices holding steady at Rs.41,700 per kg for the remainder of the week.

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

    • The fourth week commenced with the industrial metal priced at Rs.41,600 per kg on the 19th.
    • However, silver rate in Bhubaneswar plunged to Rs.41,200 per kg the next day after the US dollar strengthened against other emerging currencies.
    • Though rates remained untouched at Rs.41,200 per kg on the 21st amid the poor trends overseas, silver price in Bhubaneswar rebounded to Rs.41,400 per kg the next day with an increase in demand from local industries and coin manufacturers.
    • Prices surged further to Rs.41,600 per kg on the 23rd with the US dollar index and equities market losing in the international market.
    • The 24th saw rates declining slightly to Rs.41,500 per kg after domestic demand stabilised amid the firm trends overseas.
    • Thanks to steady demand from industries and coin makers, the rest of the week saw silver trading firm at Rs.41,500 per kg amid the positive trend overseas.

    February 2018 - Week 5 (26th - 28th):

    • When trading commenced for the last week, silver price in Bhubaneswar were recorded holding at Rs.41,600 per kg on the 26th.
    • Silver rate in Bhubaneswar surging to Rs.41,700 per kg on the 27th as markets were shaky.
    • The month came to an end with the industrial metal trading at Rs.41,200 per kg on the 28th with silver trade in Bhubaneswar registered a loss of 3.28% during the course of the month.

    Trend of Silver Rate in Bhubaneswar 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)

    • Bhubaneswar saw silver rates rise significantly due to incredibly high demand.
    • When the month of January began gold was priced at Rs.38,925 per kg.
    • The initial few weeks saw rise slowly but surged by large margins towards the last couple weeks of the month.
    • Silver prices in Bhubaneswar surged to to Rs.39,115 per kg on the 2nd, thanks to an improved demand from local investors.
    • The 3rd saw silver rates in Bhubaneswar fall to Rs.39,110 per kg due to a slight change in sales
    • On the 4th, however, prices picked back up and the white metal was seen trading at Rs.39,115 per kg.
    • The 5th saw silver prices to rise to Rs.39,265 per kg as demand began to increase over to increased local demand.
    • The final two days of this week, i.e., the 6th and the 7th saw silver trade at Rs.39,355 per kg, which continued on till the closing hours.

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

    • When the second week of January began, silver rates had dropped slightly to Rs.39,265 per kg.
    • The 9th saw silver prices drop to Rs.39,110 per kg as a steadying equity market had a positive impression on the US dollar.
    • Silver rates in Bhubaneswar continued to hold at Rs.39,110 per kg levels over the next few days as demand from industrial units and coin manufacturers remained steady.
    • Prices went up to Rs.39,265 per kg on the 13th and went up to Rs.39,355 per kg on the 13th, as the US dollar began showing cracks. This was largely due to the rising concerns against various decisions taken by the US president Donald Trump.
    • A steady local demand helped silver trade at Rs.39,355 per kg when the week came to an end on the 14th of January.

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

    • There was a consistent change in prices this week owing to uneven demand.
    • When the week began on the 15th, the white metal was trading at Rs.39,680 per kg - recording a Rs.325 increase from the previous day’s rates.
    • The 16th saw rates drop to Rs.39,670 per kg and continued at the same rate on the 17th as well as demand was low.
    • Silver rates in Bhubaneswar dropped again on the 18th - this time to Rs.39,265 per kg - as investors backed out while the dollar surged.
    • The white metal was seen trading at Rs.39,265 per kg when trading closed for the week on the 21st.

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

    • This week started on a strong note and the metal was trading at Rs.42,000 per kg on the 22nd of January.
    • Silver prices in Bhubaneswar continued at Rs.42,000 per kg over the 23rd and the 24th as well, thanks to steady demand from the domestic market.
    • The 25th saw silver rates in Bhubaneswar rise to Rs.43,100 per kg as positive change in overnight trading positions led to an upswing in demand.
    • Silver rates continued at Rs.43,100 per kg as demand from investors like coin makers and industrial units held steady. Rates seen from the 25th to the end of the week were the highest for the entire month.
    • When the week ended, the white metal was still trading at Rs.43,100 per kg as demand saw no change and so did the prices.

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

    • When trading began for the final week on the 29th of January, the white metal was priced at Rs.42,700 per kg.
    • Silver price in Bhubaneswar fell to Rs.42,200 per kg on the 30th - the second day of this week as the US dollar remained strong, thanks to a firm equity market.
    • The 31st too saw silver rates continue at Rs.42,200 as the demand form the previous day continued to flourish.
    • As demand rose consistently - and by big margins - this month silver rates recorded one of the best growth compared to the last few years.
    • A weak dollar and a strong domestic demand were the key determinants of this month’s price rise.
    • Silver price trends saw a massive 8.41% increase during this month, which was due to incredible rise in sales numbers.

    Trend of Silver Rate in Bhubaneswar 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)

    • When trading commenced for the month, silver prices were recorded holding at Rs.38,230 per kg on the 1st with firm trends overseas from the previous week.
    • Though silver price in Bhubaneswar surged to Rs.38,815 per kg on the 2nd following an incline in industrial demand for the metal, the next few days saw silver rates dropping against the strengthening US dollar and rising equities.
    • On the 5th, the white metal was recorded trading at Rs.37,965 per kg after the US dollar gained considerably against other apex currencies with the landmark tax reform plan being approved by the US Senate.
    • The next day saw silver price in Bhubaneswar rebounding to Rs.38,395 per kg due to an increase in domestic demand from industries and coin makers.
    • With the approved tax reform bill receiving positive responses from the US citizens, the US dollar rose considerably against other apex currencies. This led to silver rates dropping to Rs.37,235 per kg on the 7th which plummeted to Rs.36,620 per kg on the 8th amid the poor trends overseas.
    • The week concluded with the white metal trading relatively higher at Rs.36,715 per gram on the 10th owing to an increase in domestic demand amid the ongoing local wedding season.

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

    • Silver was priced at Rs.36,920 per kg on the 11th when the week began.
    • The strengthening US dollar coupled with gaining equities resulted in silver rate in Bhubaneswar dropping to Rs.36,620 per kg on the 12th before plummeting to Rs.36,545 per kg - the lowest recorded monthly figure - on the 13th after the US interest rates were raised by the Fed Reserve.
    • Though prices rebounded to Rs.38,395 per kg the next day, silver rate in Bhubaneswar dropped to Rs.36,920 per kg on the 15th with the US dollar index declining in the world markets.
    • Rates remained unchanged at Rs.36,920 per kg on the 16th before surging to Rs.37,180 per kg with an increase in demand from industries and coin makers towards the end of the week.

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

    • When the week began, the white metal was recorded trading at Rs.38,395 per gram on the 18h.
    • Prices plunged to Rs.37,800 per kg on the 19th before rebounding to Rs.38,395 per kg the following day after a decline in the US dollar led to an increased demand from industries.
    • Silver rates dropped again to Rs.37,705 per gram on the 21st amid the strengthening dollar and equities.
    • However, with stock markets in the Asian continent failing with the new tax cuts, prices recovering over the next couple of days.
    • When trading ended for the week, the industrial metal was recorded trading at Rs.38,395 per gram on the 14th with steady demand for the metal.

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

    • The last week saw silver prices rising significantly with the US dollar losing considerably amid the ongoing financial crisis in the US.
    • Trading commenced in Bhubaneswar with the white metal priced at Rs.38,395 per gram on the 25th.
    • Though silver rate in Bhubaneswar dropped to Rs.38,005 per gram on the 26th, the poorly performing dollar and equities led to silver prices surging to Rs.38,275 per kg the following day.
    • On the 29th, silver was recorded trading at Rs.38,275 per gram amid the positive trend overseas.
    • The final two days saw rates holding at Rs.39,265 per gram - the highest recorded monthly figure - owing to strong and steady demand from industries and coin manufacturers.
    • Bhubaneswar recorded an incline of 2.70% in silver rates during the course of the month.

    Trend of Silver Rate in Bhubaneswar 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 on 18 and 19 November
    Lowest Rate in November 2017 Rs.39,265 per kg on 22 November
    Overall Monthly Performance Decline
    Percentage Change -0.91%

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

    • When the first week of November began in Bhubaneswar, silver was priced at Rs.38,995 per kg. Silver prices were actually on the decline this month, owing to poor demand from investors in the city.
    • A rise in demand on the 2nd, thanks to positive global cues, pushed silver rate Bhubaneswar up to Rs.39,950 per kg.
    • Though, prices remained the same on the 3rd, they dropped to Rs.39,355 per kg on the 4th as demand took a hit after the initial rise.
    • When the week ended, the white metal was seen trading at Rs.39,355 per kg.

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

    • When trade exchanges opened on the 6th, silver priced had jumped to Rs.39,365 per kg - a Rs.10 increase from the previous day’s closing rates.
    • This then surged up to Rs.40,040 per kg on the 7th as demand from local industrial units and coin makers rose significantly.
    • Silver continued to trade at Rs.40,040 per kg over the next two days, i.e., on the 8th and 9th as well because of a stable demand.
    • However, silver rate in Bhubaneswar dropped to Rs.39,670 per kg on the 10th as demand reached saturation levels. This continued till the end of the week, ie., till the 12th.

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

    • Silver price in Bhubaneswar had dropped slightly to Rs.39,870 per kg when trading commenced for the third week of November.
    • Prices rose for the next two days before tapering off briefly only to rise again amidst positive cues.
    • On the 14th, silver traded at Rs.40,140 per kg. This then went up to Rs.40,240 per kg as offtake from local silver-reliant businesses increased.
    • But, due to a decline in demand caused by a rising US dollar, silver rate in Bhubaneswar went down to Rs.40,040 per kg.
    • The 18th witnessed silver rates rising significantly for the metal to trade at Rs.40,520 per kg as demand surged in the local circles on the back of the UK-EU situation.

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

    • Silver prices had gone down to Rs.40,440 per kg when trading began on the 20th of November.
    • Rates dropped over the next two days, with the metal selling at Rs.39,780 per kg on the 21st and then at Rs.39,265 per kg on the 22nd of the month.
    • When trading opened on the 23rd, silver rates had gone up to Rs.40,060 per kg before selling at Rs.40,040 per kg the next day.
    • Over the 25th and 26th of November, silver rate in Bhubaneswar were holding at Rs.39,780 per kg.

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

    • Silver rates dropped consistently over the final week of the month.
    • When trading began on the 27th, the white metal was priced at Rs.39,780 per kg.
    • Due to a drop in demand and subsequently the sales, silver rate in Bhubaneswar fell to Rs.39,680 per kg on the 28th of November.
    • The 29th again saw silver prices in Bhubaneswar fall to Rs.39,115 per kg as the US dollar was performing strongly against other currencies.
    • When the month came to an end, silver was seen trading at Rs.38,640 per kg.
    • All in all, there was a 0.91% decline in silver rates over the course of the month.
    Parameters Silver price (per kg)
    October 1 Rate Rs.39,530 per kg
    October 31 Rate 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
    Percentage Change -0.24%

    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.
    Parameters Silver price (per 1 kg)
    Silver rate on 1st September 2017 Rs.40,440 per kg
    Silver rate on 30th September Rs.39,530 per kg
    Highest Rate in September Rs.41,900 per kg on 9 and 10 September
    Lowest Rate in September Rs.39,530 per kg from 28 to 30 September
    Overall Monthly Performance Decline
    Percentage Change -2.12%

    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.
    Parameters Silver price (per kg)
    Silver Rate on 1st August Rs.38,925 per kg
    Silver Rate on 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
    Percentage Change 2.86%

    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.
    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
    Percentage Change 0%

    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 .
    Parameters Silver price
    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 and 27 June
    Overall Monthly Performance Decline
    Percentage Change -3.20%

    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 1st Rate Rs.43,970 per kg
    March 31st Rate Rs.42,115 per kg
    Highest Rate in March Rs.44,100 per kg on 2nd March
    Lowest Rate in March Rs.40,040 per kg on 15th March
    Overall Performance Decline
    Percentage Change 3.16%

    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 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
    Overall Performance Incline
    Percentage Change +3.86%

    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 1st Rate Rs.39,035 per kg
    January 31st Rate Rs.41,980 per kg
    Highest Rate in January Rs.42,180 per kg on 23rd January
    Lowest Rate in January Rs.39,035 per kg on 1st January
    Overall Performance Incline
    Percentage Change +7.54%

    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%.

    Silver as an investment

    Most consumers in Bhubaneshwar view silver as a safe form of investment due to its intrinsic value. Silver is in demand from various segments of people in Bhubaneswar given that the the white precious metal has a store of value. It is, therefore, considered a safe bet during any financial crises.

    According to experts, there is a strong demand for silver given that the demand for the yellow metal amongst the rural populace has seen a decline in the recent past.

    Physical silver: Silver is used in manifold ways in a wide variety of forms both for ornamentation purposes and paraphernalia associated with various traditional rituals in the city. There are several prominent stores across Bhubaneshwar which offer a wide range of silverware, coins and jewellery.

    Intricate silver jewellery with kundan work is much in demand.

    Silver contracts: The white precious metal is traded in Multi Commodity Exchange (MCX), National Multi Commodity Exchange (NMCE). The minimum contract which is traded (silver micro) is 1 kg while the initial margin is 5%. Consumers incur various other charges such as stamp duty and brokerage fees among others. Trade in silver futures is influenced by various factors such as price of gold, inflation and industrial demand among others.

    Silver rates in Bhubaneswar

    Silver rates in Bhubaneshwar (1kg) have been hovering around Rs.37,000 in the month of December 2015. 1 kg of the white precious metal was pegged at Rs.35,273 towards end of November before plummeting to a Rs.33,589 in the middle of December, registering a -4.7% decrease over a period of 30 days. The price of the precious metal, however rose by 10% to Rs.37,185 towards the end of December 2015. The price of silver witnessed fluctuations from the start of 2015 with 1 kg of silver pegged at Rs.38,463 in January. The price of silver plummeted through the following months with 1 kg of the precious metal pegged at Rs.36,754 in March, Rs.35810 in June and Rs.34970 in September. The prices rose marginally by 4.4% to Rs.36541 in the month of October.

    Also Check Silver Price in NearBy Cities of Bhubaneswar

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    Also Know: Gold Rate in Bhubaneswar

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