Silver Rate in Bihar

  • Today's Silver Rate in Bihar( 12 Dec 2019 )
    ₹ 47
    Today's Silver Rate per gram
    Compare Silver Rate In Bihar (Today & Yesterday)
    Today
    (12 Dec 2019)
    Yesterday
    (11 Dec 2019)
    Rate Change
    Silver (1 gram) ₹ 47 ₹ 46.5 ₹ 0.5 ↑
    Bar Silver (1 Kg) ₹ 47,000 ₹ 46,500 ₹ 500 ↑
    Silver Price In Bihar for Last 10 Days
    Date Silver (1 gram) Bar Silver (1 Kg)
    12 Dec 2019 ₹ 47 ₹ 47,000
    11 Dec 2019 ₹ 46.5 ₹ 46,500
    10 Dec 2019 ₹ 46.4 ₹ 46,400
    09 Dec 2019 ₹ 46.5 ₹ 46,500
    08 Dec 2019 ₹ 46.6 ₹ 46,600
    07 Dec 2019 ₹ 46.6 ₹ 46,600
    06 Dec 2019 ₹ 47.6 ₹ 47,600
    05 Dec 2019 ₹ 47.6 ₹ 47,600
    04 Dec 2019 ₹ 47.9 ₹ 47,900
    03 Dec 2019 ₹ 47.7 ₹ 47,700

    Weekly & Monthly Graph of Silver Rate in Bihar

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    *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 Rate in Bihar

    Bihar has a long and impressive past, being the birthplace of some of the biggest kingdoms and religions in India. Over the years, the state has managed to retain some of its lost history, forming a unique cultural identity. Silver forms an integral part of the state today, with no celebrations and festival complete without it. The growth of a few cities have increased the disposable income of residents and silver is viewed as a great investment option here. Silver rates in Bihar are closely related to international silver prices, on account of India being a major importer of this white metal.

    Trend of Silver Rate in Bihar for November 2019 (rates per kg) 

    Parameters Silver Price (per kg)
    November 1 Rate Rs.50,500 per kg
    November 30 Rate Rs.48,100 per kg
    Highest Rate in November Rs.50,700 per kg on 2 and 3 November
    Lowest Rate in November Rs.47,200 per kg on 9 and 10 November
    Overall Monthly Performance Decline
    Percentage Change -4.75%

    Trend of Silver Rate in Bihar for October 2019 (rates per kg) 

    Parameters Silver Price (per kg)
    October 1 Rate Rs.47,400 per kg
    October 31 Rate Rs.50,000 per kg
    Highest Rate in October Rs.50,400 per kg on 26 and 27 October
    Lowest Rate in October Rs.47,400 per kg on 1 October
    Overall Monthly Performance Incline
    Percentage Change 5.4%

    Trend of Silver Rate in Bihar for September 2019 (rates per kg) 

    Parameters Silver Price (per kg)
    September 1 Rate Rs.51,600 per kg
    September 30 Rate Rs.48,500per kg
    Highest Rate in September Rs.55,200 per kg on 4 September
    Lowest Rate in September Rs.48,500 per kg on 30 September
    Overall Monthly Performance Decline
    Percentage Change -6%

    Trend of Silver Rate in Bihar for August 2019 (rates per kg) 

    Parameters Silver Price (per kg)
    August 1 Rate Rs.44,100 per kg
    August 31 Rate Rs.51,600 per kg
    Highest Rate in August Rs.52,200 per kg on 29 August
    Lowest Rate in August Rs.44,100 per kg on 1 August
    Overall Monthly Performance Incline
    Percentage Change 17%

    Trend of Silver Rate in Bihar for July 2019 (rates per kg)

    Parameters  Silver Price (per kg) 
    July 1 Rate  Rs.40,500 per kg  
    July 31 Rate  Rs.44,800 per kg  
    Highest Rate in July  Rs.44,900 per kg on 25 July  
    Lowest Rate in July  Rs.40,400 per kg on 2 July  
    Overall Monthly Performance  Incline  
    Percentage Change  10.61%  

    Trend of Silver Rate in Bihar for June 2019 (rates per kg)

    Parameters Silver Price (per kg)
    June 1 Rate Rs.39,400 per kg
    June 30 Rate Rs.40,800 per kg
    Highest Rate in June Rs.41,500 per kg on 21 June
    Lowest Rate in June Rs.39,400 per kg from 1 - 2 June
    Overall Monthly Performance Incline
    Percentage Change 3.55%
    • The rates of silver stood at Rs.39,400 per kilogram at the start of the month of June in Bihar. This was lowest price for which the metal was traded in the state during the month. It was attributed to stagnant demand for the white metal.
    • The price of silver surged to Rs.40,100 per kg on 14 June as the dollar value dipped. The drop came on the back of speculations of a negative impact on the global economy after reports emerged that the US Federal Reserve was looking to cut the interest rates.
    • The rates of the metal touched the monthly high of Rs.41,500 per kg on 21 June. The jump in the prices came after the US Federal Reserve announce that it was on the brink of reducing the interest rates.
    • The rates of silver closed at Rs.40,800 per kg in Bihar for the month of June. The prices showed an incline of 3.55% over the month.

    Trend of Silver Rate in Bihar for May 2019 (rates per kg)

    Parameters Silver Price (per kg)
    May 1 Rate Rs.40,500 per kg
    May 31 Rate Rs.39,400 per kg
    Highest Rate in May Rs.40,500 per kg on 1 and 2 May
    Lowest Rate in May Rs.39,200 per kg from 20-22 May
    Overall Monthly Performance Decline
    Percentage Change -2.71%
    • The start of May saw a slight decline in the silver rates in Bihar when the metal opened at Rs. 40,500 per kg. The previous month ended when the white metal traded at Rs. 40,600 per kg. The reduction in the value may have been caused due to the reduced global demand for bullion.
    • The price of the metal continued to drop mid-month as the dollar gained value over other currencies and the US economy saw a robust increment in the performance in the first quarter of the fiscal year.
    • The US-China trade dispute slowed down several industries in China leading to a depleted demand for silver. The value of silver dipped to its lowest point on 20 – 22 May to Rs.39,200 per kg.
    • Towards the end of the month, silver saw a marginal rise in its value when it closed at Rs. 39,400 per kg, recording a percentage decline of 2.71%

    Trend of Silver Rate in Bihar for April 2019 (rates per kg)

    Parameters Silver Price (per kg)
    April 1 Rate Rs.40,600 per kg
    April 30 Rate Rs.40,500 per kg
    Highest Rate in April Rs.41,000 per kg on 9 April
    Lowest Rate in April Rs.40,200 per kg on 15 and 24 April
    Overall Monthly Performance Decline
    Percentage Change -0.24%

    Trend of Silver Rate in Bihar for March 2019 (rates per kg)

    Parameters Silver Price (per kg)
    March 1 Rate Rs.42,700 per kg
    March 31 Rate Rs.40,600 per kg
    Highest Rate in March Rs.42,700 per kg on 1 March
    Lowest Rate in March Rs.40,200 per kg on 29 March
    Overall Monthly Performance Decline
    Percentage Change -4.91%
    • At the start of the month, the silver rate in Bihar was Rs.42,700 per kg, a decline in value from the previous month. At the beginning of March, the US dollar gained value over other currencies while equities depleted in value. This was the highest value of silver in March.
    • Silver failed to rise in value due to unfavorable economic conditions. The ECB’s (European Central Bank) decision to postpone their decision to increase interest rates too stunted the growth of the metal. On 7th, silver traded at Rs.41,000 per kg.
    • The white metal traded at its lowest for the month on 29th. While it was unorthodox, equities to fell in value at the same time. During this time, silver traded at Rs.40,200 per kg.
    • The month of March recorded a declining trend of 4.91%, while the price of the metal increased marginally to Rs.40,600 per kg.

    Trend of Silver Rate in Bihar for February 2019 (rates per kg)

    Parameters Silver Price (per kg)
    February 1 Rate Rs.43,900 per kg
    February 28 Rate Rs.43,300 per kg
    Highest Rate in February Rs.44,100 per kg on 5 February
    Lowest Rate in February Rs.42,700 per kg on 14 February
    Overall Monthly Performance Decline
    Percentage Change -1.36%
    • Silver opened at Rs.43,900 per kg on 01 February and slowly inclined to Rs.44.100 per kg on 5 February as the domestic and international demand for the metal was high.
    • However, in the following days, the industrial demand for the metal dropped as the value of the US Dollar increased and the price of the metal fell to Rs.42,700 per kg on 14 February though the domestic demand remained unchanged.
    • Investors around the globe feared the impact of Brexit and the trade war between the US and China on the equity markets and turned towards safe-haven assets like silver which boosted the prices of the metal to Rs.44,000 on 20 February in Bihar.
    • However, during the end of the month silver rates fell and closed at Rs.43,300 per kg and recorded an overall decline of 1.36% for the month due to the declining demand for the metal from local coin makers.

    Trend of Silver Rate in Bihar for January 2019 (rates per kg)

    Parameters Silver Price (per kg)
    January 1 Rate Rs.41,500 per kg
    January 31 Rate Rs.43,900 per kg
    Highest Rate in January Rs.43,900 per kg on 30 and 31 January
    Lowest Rate in January Rs.41,400 per kg on 2 January
    Overall Monthly Performance Incline
    Percentage Change 5.78%
    • Silver in Bihar was priced at Rs.41,500 per kg on 1 January and rose further as local demand increased and global cues were favourable. As on 10 January, the price of silver stood at Rs.42,600 per kg.
    • Demand for the metal in the Asian continent stunted for while due to the trade restriction the US imposed on China. This resulted in a decline in the price of silver as it traded Rs.42,100 per kg on 19 January.
    • The volatile market at the aftermath of Brexit and the shutdown of the U.S. government resulted in investors shifting to safe haven assets. On 26 January, the price of silver recovered and was priced at Rs.43,200 per kg.
    • The demand for the metal continued to surge and coin makers and retail sales rose, thereby boosting the value of silver. The monthly incline of the metal stood 5.78% and the month ended with silver standing at Rs.43,900 per kg.

    Trend of Silver Rate in Bihar for December 2018 (rates per kg)

    Parameters Silver Price (per kg)
    December 1 Rate Rs.38,500 per kg
    December 31 Rate Rs.41,500 per kg
    Highest Rate in December Rs.41,500 per gram on 31 December
    Lowest Rate in December Rs.38,500 per gram on 1 December
    Overall Monthly Performance Incline
    Percentage Change 7.79%

    Silver Rate Trend in Bihar for December 2018:

    • The price of silver in Bihar on December 1 was Rs.38,500 per kg. Over the course of the first week, the industrial metal made some good gains, led by an increase in the local demand. By the end of the week, the price was up to Rs.39,600 per kg.
    • On December 8, the price increased further to Rs.40,300 per kg. The second week saw another surge in the price – this time, to Rs.40,700 per kg on the 11th. The demand for the metal from local coin makers and industries through this period was mostly flat.
    • The third week of the month started on a bearish note as the price dipped to Rs.39,800 per kg on December 20 because of rallying stocks and a strong U.S. Dollar. However, it increased marginally to Rs.40,000 per kg by December 25.
    • By the end of the year, the price had increased substantially and on December 31, the silver rate in Bihar was Rs.41,500 per kg. This marked a monthly increase of 7.79% in the price, led by a weak dollar and falling equities.

    Trend of Silver Rate in Bihar for November 2018 (rates per kg)

    Parameters Silver price (per kg)
    November 1 Rate Rs.40,900 per kg
    November 30 Rate Rs.38,800 per kg
    Highest Rate in November Rs.41,500 per kg from 2-4 and 6 November
    Lowest Rate in November Rs.38,800 per kg on 30 November
    Overall Monthly Performance Decline
    Percentage Change -5.13%

    Silver Rate Trend in Bihar for November 2018:

    • The price of silver in Bihar decreased at a steady rate throughout the month due to the fall in the value of the rupee and poor demand globally.
    • On 1 November 2018, the price of silver was Rs.40,900 per kg and reached a monthly high at Rs.41,500 per kg in the first week of the month. The price of the metal fell gradually after.
    • Silver prices increased initially due to the celebrations of Dhanteras in the state. However, the price decreased due to the Brexit negotiations due to which the market was volatile, and investors showed less interest in the bullion.
    • The price of the metal declined through the month, closing at Rs.38,800 per kg, recording a decline of 5.13%.

    Trend of Silver Rate in Bihar for October 2018 (rates per gram)

    Parameters Silver price (per kg)
    October 1 Rate Rs.41,100 per kg
    October 31 Rate Rs.41,200 per kg
    Highest Rate in October Rs.42,000 per kg on 3 October
    Lowest Rate in October Rs.41,100 per kg on 1 and 2 October
    Overall Monthly Performance Incline
    Percentage Change 0.24%

    October 2018 - Week 1 (1-7):

    • Silver opened the week trading at Rs.41,100 per kg in the back of a rise in demand for the industrial metal amid favourable overseas market cues.
    • Prices inclined to Rs.42,000 per kg on 3 October - the highest for October - amid the strong demand from industries and coin makers in the back of strong overseas cues.
    • Silver prices in Bihar ended the week at Rs.41,900 per kg, inclining by Rs.800 per kg over the opening price of the week.

    October 2018 - Week 2 (8-14):

    • Silver traded at Rs.41,500 per kg when the week opened on 8 October due to steady demand from industries in the back of a strengthening US greenback and the equity market.
    • As the US dollar gained over other apex currencies coupled with weak demand for the industrial market, silver rates in Bihar fell to Rs.41,100 per kg on 11 October.
    • By the end of the week, there was an increase in demand from industries which led the silver to close at Rs.41,500 per kg.

    October 2018 - Week 3 (15-21):

    • Silver traded at Rs.41,900 per kg when the week opened on 15 October, after an incline in the US dollar rate which led to domestic prices rising over the weekend.
    • Amid the US dollar regaining losses recorded last week, demand for the white metal declined and silver was trading at Rs.41,400 per kg on 17 October.
    • The metal recovered lost ground to trade at Rs.41,700 per kg before dropping to Rs.41,500 per kg as the US dollar gained over other apex currencies.

    October 2018 - Week 4 (22-28):

    • Silver began the week trading at Rs.41,500 per kg with the local market gaining momentum and a depreciating US dollar.
    • The fluctuating rupee-dollar dynamic coupled with a volatile market, silver rates in Bihar inclined to Rs.41,900 per kg on 24 October.
    • Silver closed the week trading at Rs.41,700 per kg backed by steady demand from local industries and coin makers.

    October 2018 - Week 5 (29-31):

    • The white metal opened the week trading at Rs.41,600 per kg after a marginal increase in the dollar value led to a decrease of Rs.100 per kg over the previous day.
    • Silver closed for the week at Rs.41,200 per kg with weak demand for the industrial metal amid the appreciation of the US dollar.
    • Silver price in Bihar for the month of October witnessed an incline of 0.24% of its overall value.

    Trend of Silver Rate in Bihar 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%

    September 2018 - Week 1 (1 - 8):

    • Silver was recorded trading at Rs.40,000 per kg on the 1st when the month began in Bihar with subdued local demand amid uneven market trends overseas.
    • Silver rates surged by Rs.100 to Rs.40,000 per kg on the 2nd before plummeting to a monthly low of Rs.39,500 per kg on the 5th after the US dollar index rose against a basket of other emerging currencies on the back of the well-performing equity markets.
    • When the week came to an end, the industrial metal was recorded was recorded trading at Rs.39,700 per kg on the 8th with investors hedging on safe-haven assets amid the intensifying trade dispute between the US and China.

    September 2018 - Week 2 (9 - 15):

    • The second week began with silver rates in Bihar holding at Rs.39,700 per kg on the 9th with steady global demand from investors and other market participants.
    • Prices remained untouched at Rs.39,700 per kg until the 13th with demand on the rise following the poor US inflation data.
    • Silver was recorded trading at Rs.39,800 per kg on the 14th before plunging to Rs.39,500 per kg on the 15th with local demand capped by the recovering US dollar index and rising equity markets.

    September 2018 - Week 3 (16 - 22):

    • Trading commenced for the week with silver priced at Rs.39,500 per kg on the 16th with subdued but steady local demand from industries and coin makers amid the weak trends overseas.
    • The 17th saw silver price in Bihar surging to Rs.39,700 per kg before rising further to Rs.40,000 per kg on the 18th on account of strong retail demand at the domestic level.
    • Silver was priced at Rs.39,800 per kg and Rs.40,000 per kg on the 18th and the 19th before closing at Rs.40,100 per kg on the 22nd amid the positive market trends overseas.

    September 2018 - Week 4 (23 - 30):

    • The final week commenced with the white metal priced at Rs.40,300 per kg on the 23rd with local markets capitalising on the previous session’s gains.
    • Though prices dropped to Rs.40,000 per kg on the 24th for a short period, silver rates picked up the next day to trade at Rs.40,200 per kg on the 25th.
    • Silver prices surged to a monthly high of Rs.41,200 per kg on the 29th and the white metal continued trading at the same rate for the rest of the month.
    • Bihar registered a profit of 3% in silver trade owing to the positive global cues that pushed demand higher during the month.

    Trend of Silver Rate in Bihar 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):

    • At the start of August 2018, silver was priced Rs.41,400 per kg, the highest the metal stood at for the month.
    • Silver increased by Rs.200 in the state of Bihar on 4 August to Rs.41,300. The hike was associated with a surge in demand for the metal from local industries and jewellers.
    • At the end of week 1, the metal was recorded at Rs.41,300 per kg. The surge in demanded recorded earlier in the week did not have an affect on the price of the metal.

    August 2018 - Week 2 (6 - 12):

    • The price remained unaltered as the month rolled into the second week when silver was still priced at Rs.41,300 per kg in Bihar.
    • On 9 August, silver rose to Rs.41,400 per kg as the value of the dollar declined in contrast with other currencies. Today was also the highest silver had been priced for the month.
    • The silver price in Bihar dipped to Rs.41,200 per kg at the end of week 2.

    August 2018 - Week 3 (13 - 19):

    • The price of silver in the state remained at Rs.41,200 per kg on the first day of week 3.
    • However, the value declined after the US economy experienced positive trends after having released their employment data. On 16 August, silver was recorded at Rs.39,900 per kg.
    • At the end of the third week, a rise in the demand for silver was observed causing the price of silver to increase to Rs.40,000 per kg.

    August 2018 - Week 4 (20 - 26):

    • At the start of week 4, silver still stood at Rs.40,000 per kg.
    • The dollar rose in value on 23 August which caused the price of silver to decline to Rs.39,900 per kg.
    • Week 4 ended with silver surging to Rs.40,200 per kg.

    August 2018 - Week 5 (27 - 31):

    • Week 5 commenced with silver trading at Rs.40,200.
    • Domestic demand for the metal then rose during the week causing the price of silver to increase as well.
    • Silver price in the city recorded a negative trend of of -2.65% as the metal was trading at Rs.40,300 per kg at the end of the month.

    Trend of Silver Rate in Bihar 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 (1-10)

    • In Bihar, silver was traded at Rs.42,800 per kg on 1 July 2018.
    • As the demand for the metal fell by Rs.400 per kg on 3 July 2018, it was traded at Rs.42,400 per kg. As the local coin makers and industrial units reduced their silver intake, the demand for the metal fell, affecting the prices of silver negatively.
    • However, silver prices regained and rose Rs.42,800 per kg mid-week and remained stable for the next few days as the demand for the metal increased slightly.
    • During the end of week 1, from 9 - 10 July, the highest silver rate of Rs.42,900 per kg for the month of July was recorded in Bihar.
    • Silver prices in Bihar could increase significantly during the first week due to positive market trends clubbed with declining US dollar rates over other currencies.

    July 2018- Week 2 (11-17)

    • An increase in silver prices was recorded in the first week of July. However, silver prices fell continuously during the second week of July.
    • As the demand for the metal from local merchants fell during the second week, silver prices fell by Rs.300 per kg and opened at Rs.42,600 per kg on 11 July.
    • As demand fell further and the intake of silver reduced in Bihar, silver prices from 12 - 14 July stood at roughly Rs.42,200 per kg.
    • On 16 July, the demand for silver picked up slightly and the prices rose to Rs.42,300 per kg.
    • As demand for the metal was not steady and industrial units consumed less silver, the price of the metal fell by Rs.200 per kg and closed at Rs.42,100 per kg on 17 July.

    July 2018- Week 3 (18 - 24)

    • Silver prices in Bihar continued to fall in week 3. On 18 July, silver rates fell by Rs.400 per kg and traded at Rs.41,700 per kg. The dip in silver consumption from industrial units caused silver rates to fall in Bihar.
    • Though demand for the metal significantly affected silver rates in Bihar, this week the value of the US dollar played a crucial role. On 20 July, the value of the US dollar increased over other currencies which caused silver prices to fall by Rs.400 per kg and the metal traded at Rs.41,300 per kg.
    • However, demand for the metal picked up and silver rates increased by Rs.400 per kg and traded at Rs.41,700 per kg from 21 to 22 July.
    • As demand for the metal was not steady, silver rates fell during the end of the week and closed at Rs.41,400 per kg on 24 July.

    July 2018- Week 4 (25 - 31)

    • Silver opened at Rs.41,500 per kg on 25 July.
    • Due to the decline of US dollar value, silver prices spiked on 26 July to Rs.41,800 per kg. However, demand for the metal dropped which naturally caused the decline in silver prices over the next few days.
    • The lowest silver price for the month of July was recorded on 28 and 29 July, when the metal traded at Rs.41,200 per kg.
    • As the US dollar rate fell, silver prices increased marginally and stood at Rs.41,400 per kg on 30 - 31 July.
    • Overall, silver prices fell by 3.27% in the month of July in Bihar.

    Trend of Silver Rate in Bihar 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 in Bihar when trading started for the month of June.
    • As the US dollar gained against other currencies, silver rates went down to Rs.42,600 per kg on the 2nd.
    • Due to subdued demand and poor cues, silver prices remained unchanged till the 5th - trading at Rs.42,600 per kg throughout.
    • The US dollar weakened against other major currencies, silver rates picked up to hit Rs.43,900 per kg on the 6th before dropping to Rs.43,800 per kg the next day.
    • When the week came to an end on the 10th, silver was priced at Rs.43,700 per kg as demand consolidated across the country.

    June 2018 - Week 2 (11 - 17):

    • This week opened with silver trading at Rs.43,900 per kg - a Rs.200 increase from the previous session as investors took advantage of the rising markets.
    • On the 12th, silver traded at Rs.44,000 per kg as demand went up slightly before going back down to Rs.43,900 per kg on the 13th.
    • The next few days saw silver prices rise after the US dollar seemed to decline against a number of other currencies. Silver traded at Rs.44,300 per kg on the 14th before going up to a monthly high rate of Rs.45,000 per kg on the 15th.
    • Over the 16th and 17th, silver traded at Rs.44,300 per kg as demand subsided ahead of a recovering dollar and a stabilising equity market.

    June 2018 - Week 3 (18 - 24):

    • The third week of trading began with silver opening at Rs.43,400 per kg as there was a Rs.900 drop after a strongly performing dollar caused gold rates to drop.
    • On the 19th, the metal was seen trading at Rs.43,500 per kg which then dropped to Rs.43,100 per kg the next day as demand weakened further.
    • The 21st also saw silver rates drop - going down to Rs.42,900 per kg as there was a low demand from local industries and coin makers.
    • When the week drew to a close, the white metal was trading at Rs.42,900 per kg as demand dropped ahead of a strong dollar.

    June 2018 - Week 4 (25 - 30):

    • The final week of June saw silver rates drop consistently as demand showed no signs of picking up as the dollar remained strong.
    • On the 25th, when the week began, silver was priced at Rs.43,200 per kg as there was a strong demand for the metal.
    • The 26th and 27th saw silver trade at Rs.43,000 per kg as there was a consistent demand for the metal. Rates were the same on the 28th as demand was low but steady.
    • Demand weakened on the 29th and prices went down to Rs.42,800 per kg as overseas cues coupled with weak demand pushed prices down.
    • When the month came to a halt, the white metal was priced at Rs.42,800 per kg - which was also the month’s starting rate.
    • Although there was a lot of fluctuation in silver prices for the entire month, there was technically no change in the overall performance of the metal.

    Trend of Silver Rate in Bihar 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 trading was on the positive side this month, thanks to a rising demand seen towards the end of the month.
    • On the 1st of May, when trading started for this month, the white metal was priced at Rs.42,000 per kg.
    • With concerns rising ahead of the US-China trade war and the possible effect it could have, safe haven demand surged. This caused silver demand to rise locally as well and the metal traded at Rs.42,600 per kg on the 3rd.
    • The week drew to a close with the metal trading at Rs.42,600 per kg.

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

    • Silver rate in Bihar had risen to Rs.43,200 per kg when the second week’s trading began on the 7th of May.
    • After news about a rising dollar arrived, demand for the white metal dropped, and the metal traded at Rs.43,000 per kg.
    • A slight improvement in local demand pushed silver rates up to Rs.43,100 per kg on the 9th before rising to Rs.43,300 per kg on the 10th.
    • As demand continued to rise amidst strong demand from industries and coin makers, and the weakening of the dollar, silver price in Bihar went up to RS.43,500 per kg on the 11th.
    • Demand remained steady for the remaining few days of this week due to sustained sales in the market.

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

    • The third week’s trading began with a slight improvement in silver rates. On the 14th, when this week began, the white metal was priced at Rs.43,600 per kg.
    • As markets strengthened and the US dollar gained, silver rate in Bihar dropped to Rs.43,300 per kg on the 15th before dropping further to Rs.43,000 per kg the subsequent day.
    • A brief surge in demand caused silver rates to go up to Rs.43,200 per kg on the 16th before slumping back down to Rs.43,000 per kg on the 17th.
    • Demand was uneven for the remaining few days as well with prices rising and dropping on a regular basis.
    • On the 18th, the metal was seen trading at Rs.43,200 per kg as domestic demand surged but fell back to Rs.43,000 per kg on the 19th.
    • When the week ended, the white metal was seen trading at Rs.43,100 per kg.

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

    • The penultimate week of May began with little change in prices. The metal was still seen trading at Rs.43,100 per kg as demand remained steady.
    • This week saw some increased demand after concerns regarding the US Fed rate meeting, which suggested that no interest rate hike will be approved.
    • Markets fell after this news and bullion demand all over the world rose. On the 22nd, the metal traded at Rs.43,200 per kg before trading a further improved rate of Rs.43,500 per kg on the 23rd.
    • There was a brief decline in prices as demand softened and the metal traded at Rs.43,300 per kg on the 24th.
    • The 25th saw silver trade at Rs.43,800 per kg as demand surged after cues from the domestic markets remained strong.
    • Silver rate in Bihar seen on the 25th were the highest for the month too. After demand consolidated, prices fell to Rs.43,600 per kg on the 26th.

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

    • The last four day of May saw silver rates drop because of a resurgent dollar and a even slowed down local demand.
    • The week began with silver trading at Rs.43,000 per kg on the 28th before rising marginally to Rs.43,100 per kg the next day.
    • On the 30th, Silver price in Bihar dropped to Rs.42,900 per kg as the metal couldn’t hold against the barrage of the dollar.
    • A rise in local demand caused rates to go up to Rs.43,100 per kg on the final day of the month.
    • Strong cues paired with a steady local demand helped silver rates incline by 2.61% this month.

    Trend of Silver Rate in Bihar 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 (1 - 7):

    • Trading opened in Maharashtra with silver priced at Rs.41,400 per kg on the 1st amid positive market trends coupled with steady domestic demand.
    • Interest for the metal improved as investors banked on safe-haven assets such as the bullion after the US import tariffs were raised by the the US President.
    • Rates rose to Rs.41,600 per kg on the 3rd before plunging to Rs.41,300 per kg the next day as the dollar recovered from its initial shock.
    • The 5th saw silver prices plummeting to its lowest recorded monthly figure of Rs.41,000 per kg following a decline in industrial offtake for the metal.
    • The week came to an end with the white metal prices holding at Rs.41,200 per kg on the 7th with local demand from industries and coin makers picking up.

    April 2018 - Week 2 (8 - 15):

    • The week began with silver trading at Rs.41,200 per kg on the 8th before rising to Rs.41,300 per kg amid firm overseas trends.
    • An increase in global demand brought about by the weakened US dollar led to silver rates surging to Rs.41,700 per kg on the 11th.
    • The 12th saw silver prices surging further to Rs.42,000 per kg with the bullion market capitalising on the losing greenback and equity markets.
    • The dollar, however, gained against a basket of other emerging currencies and silver was recorded trading at Rs.41,600 per kg the following day.
    • The US-led attacks on Syria resulted in investors gravitating towards assets considered safer such as the bullion towards the end of the week.
    • The week concluded with the industrial metal prices holding at Rs.41,900 per kg on the 15th with steady domestic demand for the metal.

    April 2018 - Week 3 (16 - 22):

    • When trading commenced for the third week, silver rates in Maharashtra were recorded holding at Rs.42,100 per kg on the 16th with domestic markets tracking a firm trend overseas.
    • With tensions rising between North Korea and the US, demand for the metal improved over the next couple of days.
    • The losing greenback coupled with the poorly performing equity markets led to silver prices surging to Rs.43,700 per kg on the 19th.
    • The 20th witnessed rates surging further to Rs.43,800 per kg as the US dollar lost ground with the dollar index losing against other apex currencies at the global level.
    • The rest of the week saw the white metal prices remaining untouched at Rs.43,800 per kg with steady demand from industries and coin makers amid the positive trend overseas.

    April 2018 - Week 4 (23 - 30):

    • When trading commenced for the last week, silver was recorded trading slightly lower at Rs.43,700 per kg on the 23rd, which plunged to Rs.43,000 per kg on the 24th with the US dollar regaining lost ground.
    • The week saw global demand declining with poor markets trends affecting investor interest for the metal, pushing prices lower at the domestic level.
    • Though prices rose to Rs.43,100 per kg on the 25th, rates plummeted again to Rs.43,000 per kg on the 26th with reduced local demand amid the strong US greenback.
    • Poor global cues coupled with declining domestic demand from industrial units and coin manufacturers led to silver rates dropping to Rs.42,800 per kg on the 27th.
    • Prices remained untouched at Rs.42,800 per kg the next day on account of subdued but steady demand from the local markets.
    • The month came to an end with the industrial metal priced at Rs.42,300 per kg on the 30th owing to the strong dollar rates that resulted in reduced domestic demand for the metal.
    • Silver prices in Maharashtra rose by 2.17% due to the rising geopolitical tensions that pushed investor demand higher during the month.

    Trend of Silver Rate in Bihar 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):

    • In Bihar, gold was priced at Rs.41,100 per kg when trading commenced for the month of March. This rose as the week progressed as demand from the local market picked up amidst an increase in purchase volumes.
    • With markets and the US dollar weakening, silver investors found the right motivation to invest in the metal. Rates went up to Rs.41,400 per kg on the 2nd as a result.
    • Due to sustained increase in demand, silver rate in Bihar went up to Rs.41,600 per kg on the 3rd before continuing at this rate on the 4th day of the month.

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

    • There was a Rs.100 rise in silver price in Bihar when trading opened for the second week of March. On the 5th, the white metal was priced at Rs.41,700 per kg, thanks to a brief increase in demand.
    • As the US dollar recovered due to a rising market, silver rate in Bihar tumbled down to Rs.41,400 per kg on the 6th. This, then increased to Rs.41,900 per kg on the 7th - the month’s highest rates - as demand from industrial units and coin makers went up.
    • The US dollar held strong over the next few days and silver rates took a beating as a result. On the 8th, the white metal was priced at Rs.41,500 per kg before falling further to Rs.41,300 per kg on the 9th.
    • Demand stabilised on the 10th before rising on the 11th for the metal to trade at Rs.41,600 per kg as local investors pushed through with their investment.

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

    • When trading for the third week commenced, silver was priced at Rs.41,600 per kg. This dropped to Rs.41,400 per kg the next day as the US jobs data turned out to be much better than initially expected.
    • On the 14th, silver rate in Bihar surged to Rs.41,700 per kg as the US dollar tanked after US Secretary of State was fired from his position.
    • After the dollar bounced back from the fall, silver rates took a hit and went down to Rs.41,500 per kg and then to Rs.41,300 per kg over the 15th and 16th of March.
    • The week came to an end on the 18th and silver price in Bihar were recorded at Rs.41,000 per kg - the month’s lowest rate.

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

    • Silver rate in Bihar were still holding at Rs.41,000 per kg when the fourth week of March began on the 19th. This rose to Rs.41,200 per kg on the 20th before falling back to Rs.41,000 per kg the next day.
    • As industrial demand surged on the 22nd, silver price in Bihar went up to Rs.41,500 per kg before rising to Rs.41,600 per kg the next day.
    • The week drew to a close with silver rates still holding at Rs.41,600 per kg.

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

    • The final week of March recorded consistent up and down in prices. It opened at Rs.41,600 per kg, which increased to Rs.41,800 per kg as demand surged after the spat between the US and Russia took centre stage.
    • On the 28th, rates dropped to Rs.41,500 per kg as industrial demand went down due to weak cues.
    • The month ended with silver price in Bihar holding at Rs.41,400 per kg - a 0.72% incline compared to the previous month’s trends.

    Silver as an investment

    Gold and silver have always been popular in India, but with new import duties on gold it has become more expensive and out of reach for a major portion of the population. Silver, thereby becomes a safe and viable investment choice for millions in Bihar, enabling them to own this precious metal without having to empty their pockets. Silver is also culturally significant in Bihar, with no auspicious ceremony complete without it. Residents of Bihar who wish to invest in silver can do so through different means, with physical silver and commodity futures being the popular investment modes today.

    Physical silver – There is no doubt that Indians love tangible investments and silver in its physical form is the most preferred mode of silver investments in the country. Investors and households, both continue to purchase silver either in the form of coins or jewellery. Silver coins can be a better investment choice compared to jewellery, given the fact that they are pure and there are no wastage or making charges associated with them. Silver jewellery like chains, bangles, rings, etc. serve a dual purpose, acting both as an investment and an adornment. Silver can be purchased from banks and jewellers in Bihar, with a number of shops catering to different budgetary requirements.

    Commodity Futures – Commodity futures provide an exciting option to new investors, with silver being one of the popular commodities traded on the market. One can trade through the MCX and NCDEX, having freedom to choose the amount of silver they wish to purchase. The major drawback about futures trading is the purity guarantee and storage, which can confuse new players.

    Read more on Silver

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