Silver Rate In Dehradun

  • Today's Silver Rate In Dehradun ( 15 Aug 2020 )

    ₹ 66.95
    Today's Silver Rate per gram

    Compare Silver Rate In Dehradun (Today & Yesterday)

    Rate Change
    Silver (1 gram) ₹ 66.95 ₹ 65.01 ₹ 1.94 ↑
    Bar Silver (1 Kg) ₹ 66,950 ₹ 65,010 ₹ 1,940 ↑

    Silver Price In Dehradun For Last 10 Days

    Date Silver (1 gram) Bar Silver (1 Kg)
    14 Aug 2020 ₹ 66.95 ₹ 66,950
    13 Aug 2020 ₹ 65.01 ₹ 65,010
    12 Aug 2020 ₹ 72.55 ₹ 72,550
    11 Aug 2020 ₹ 75.16 ₹ 75,160
    10 Aug 2020 ₹ 74.22 ₹ 74,220
    09 Aug 2020 ₹ 74.21 ₹ 74,210
    08 Aug 2020 ₹ 76.52 ₹ 76,520
    07 Aug 2020 ₹ 73.51 ₹ 73,510
    06 Aug 2020 ₹ 71.51 ₹ 71,510
    05 Aug 2020 ₹ 65.06 ₹ 65,060

    Weekly & Monthly Graph of Silver Rate in Dehradun

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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 Dehradun

    Silver is one of the most popular natural resources in the world, finding use in industries ranging from electronics to automobiles to batteries. The world consumes over 1.1 billion ounces of silver in a year, making it a highly sought after resource. Dehradun, the capital city of Uttarakhand is on the verge of growing into a metropolis, with a large number of educational institutions established here. The city accounts for a major portion of silver consumed in Uttarakhand, with silver prices in the state determined after calculating the international price of silver and taking into account the import duties.

    Trend of Silver Rate in Dehradun for July 2020 (rates per kg)

    Parameters Silver Price (per kg)
    July 1 Rate Rs.48,560per kg
    July 31 Rate Rs.63,010 per kg
    Highest Rate in July Rs.66,010 per kg on 30 July
    Lowest Rate in July Rs.48,510 per kg on 5 July
    Overall Monthly Performance Incline
    Percentage Change 29.75%

    Trend of Silver Rate in Dehradun for June 2020 (rates per kg)

    Parameters Silver Price (per kg)
    June 1 Rate Rs.50,120 per kg
    June 30 Rate Rs.48,510 per kg
    Highest Rate in June Rs.50,160 per kg on 2 June
    Lowest Rate in June Rs.47,110 per kg on 16 June
    Overall Monthly Performance Decline
    Percentage Change -3.21%

    Trend of Silver Rate in Dehradun for May 2020 (rates per kg)

    Parameters Silver Price (per kg)
    May 1 Rate Rs.42,530 per kg
    May 31 Rate Rs.50,100 per kg
    Highest Rate in May Rs.51,400 per kg on 25 May
    Lowest Rate in May Rs.41,010 per kg on 2 May
    Overall Monthly Performance Incline
    Percentage Change 17.79%
    • In May, the price of silver in Dehradun started off at an optimistic high of Rs.42,530, in line with the uncertainty in stock markets because of the coronavirus pandemics which led to lockdowns and an economic downturn that led to a greater appeal for bullions as a safe-haven investment in times of a possible global recession. However, silver dipped to Rs.41,010 per kg on 2 May, which also would be the lowest price point for the month. This dip in prices was attributed to optimism of an economic turnaround as 6 countries around the world started taking steps to ease off on the lockdown and lift restrictions that were blocking economic activities. However, the price picked up the rest of the week and ended on a good note of Rs.42,010 per kg, because of the increasing volatility around US-China trade relations revolving around the protests in Hong Kong.
    • In the second week of May, silver prices in Dehradun continued to dip and rise. The dips could be attributed to news of several countries easing up on restrictions which led to greater optimism around equities and thus a dip in prices of precious metals. However, this was soon stymied by fears of a fresh wave of coronavirus infections in countries were restrictions were eased, leading to interest in bullions again as a safe-haven investment in such volatile times. The dollar remained strong which led to prices remaining steady overall in the Asian trade markets. While this capped the price and stopped it from rising exponentially even in such unpredictable times, it also stopped it from dipping too low as well.
    • The price of silver in the third week of May in Dehradun kept rising steadily, starting at Rs.43,160 and ending at Rs.48,200 with a sudden high in the middle of the week at Rs.48,510 on 19 May. Investors were going slow on riskier equities with the US-China tensions around the new law in Hong Kong giving rise to fears of further trade tariffs and trade wars between the two economic giants. This led to more of an appeal for safe-haven investments such as precious metals, especially in light of the coronavirus pandemic continuing to rage around the world and news of a fresh round of cases in economies that had eased up on restrictions of the lockdowns. Dismal US jobs data also underscored the reality of a bleak economic forecast, which led to more buying of bullions.
    • In the last week of the month, prices of silver rose to the highest it was for the month of May at Rs.51,400 on 25 May. It closed the month at Rs.50,100 with an overall monthly incline of 17.79%. This was in response to the highly volatile atmosphere between US and China around the protests in Hong Kong which sparked fears of a further trade war between the two superpowers, thus leading to precious metals remaining a safe haven from the unpredictable stock market.

    Trend of Silver Rate in Dehradun for April 2020 (rates per kg)

    Parameters Silver Price (per kg)
    April 1 Rate Rs.40,500 per kg
    April 30 Rate Rs.41,520 per kg
    Highest Rate in April Rs.42,710 per kg on 21 April
    Lowest Rate in April Rs.40,360 per kg on 6 April
    Overall Monthly Performance Incline
    Percentage Change 2.51%
    • In Dehradun, silver opened at a price of Rs.40,500 per kg in April. It remained constant at this price point for five days but dipped to the lowest price for the month to Rs.40,360 on 6 April. This was a direct correlation to global conditions which were a strong US dollar and anticipation of the release of the US nonfarm payroll data that would reveal the complete picture of the effect of coronavirus on the economy. A slowdown in coronavirus-related deaths fueled a stronger US dollar and global equities which led to the dip in prices by the end of the week.
    • In the second week of April, silver remained at the same price of Rs.41,100 for 3 consecutive days. The rest of the week was full of ups and downs as signs of a coronavirus slowdown affected its appeal of a safe-haven investment while increasing fears of a possible global recession fueled its appeal on the other hand as a safe-haven investment. Several stimulus measures by central banks of governments across the world further strengthened the bullion market making it more attractive than equities in the second week of April.
    • By the third week, silver would hit its highest price point of Rs.40,360 per kg on 21 April. This was in response to a total crash in oil prices, an extremely volatile equities market, a stronger US dollar, and the coronavirus which showed no signs of abating. With lockdowns continuing around the world, this led to steady and rising prices of precious metals which seemed to be safer than investing in equities or other forms of investments, in case of a global recession.
    • By the end of the month, the prices of silver continued to be high and low, with several countries readying to lift lockdowns and return to a bustling economy, which pushed confidence in equities and whetted the risk appetite as well, thus lowering the appeal of safe haven investments. However, the continued coronavirus pandemic, anticipation about further economic stimulus measures, and a strongly growing dollar would contribute to prices getting higher as well. Overall, this push and pull in the global economy and equities markets resulted in an upward trend of the prices of silver in April to 2.51% percentage change.

    Trend of Silver Rate in Dehradun for March 2020 (rates per kg)

    Parameters Silver Price (per kg
    March 1 Rate Rs.47,400 per kg
    March 31 Rate Rs.40,500 per kg
    Highest Rate in March Rs.50,700 per kg on 6 March
    Lowest Rate in March Rs.37,800 per kg on 19 March
    Overall Monthly Performance Decline
    Percentage Change -14.5%
    • The price of silver in Dehradun was a robust Rs.47,400 at the start of the month. This was a welcome recovery from its steep fall from the previous month. The rise in the price of precious metals was driven by worries of a global recession due to the impact of Covid-19 on the economies of more than 180 countries where the virus had now made its mark. This made precious metals like silver a safe-haven investment that seemed to be stable in a time of volatile stock markets.
    • Towards the second week of March, silver continued to maintain a stronghold, rising to the highest price of Rs.50,700 per kg on 6 March. This was also the highest weekly gain since October 2011. With equity markets continuing their freefall following the spread of Covid-19, investors looked to silver as a stable and safe investment.
    • Silver’s positive run was halted by the middle of the month and it fell to its lowest price of Rs.37,800 per kg by 19 March, led by a surging dollar and burgeoning Chinese economy, against the backdrop of the coronavirus continuing its rampage through global stock markets. This led to investors liquidating their investments to maintain their cash reserves in the case of a global recession which seemed to be looming ahead.
    • Silver ended the month at Rs.40,500 per kg, which was a mild recovery from the previous week, following a stimulus boost from the US Federal Reserve. The overall monthly performance was one of decline with a percentage change of –14.5%.

    Trend of Silver Rate in Dehradun for February 2020 (rates per kg)

    Parameters Silver Price (per kg)
    February 1 Rate Rs.50,300 per kg
    February 29 Rate Rs.47,400 per kg
    Highest Rate in February Rs.52,900 per kg on 24 February
    Lowest Rate in February Rs.47,400 per kg on 29 February
    Overall Monthly Performance Decline
    Percentage Change -5.76%
    • At the beginning of the second month of the year, the price of silver stood at the rate of Rs.50,300 per kg. Owing to the break of the Corona virus in China, silver is now a good investment option. As the international economy is likely to slow down due to the spreading virus.
    • During the month, the precious metal has hit the highest price point on 24 February when it stood at the rate of Rs.52,900 per kg. The lowest recorded rate for the month of February was Rs.47,400 per kg and it was recorded on 29 February 2020. The report of Corona virus hitting 6 other countries had taken a toll in the market.
    • The price of silver came to a close at the rate of Rs.47,400 per kg for the second month of 2020. The main reason behind the drop in price of the precious metal was also affected by the announcement made by World Health Organisation wherein Corona virus was pointed out as a global epidemic.
    • The percentage change in the performance of the metal for the month of February 2020 was –5.76%.

    Trend of Silver Rate in Dehradun for January 2020 (rates per kg)

    Parameters Silver Price (per kg)
    January 1 Rate Rs.50,300 per kg
    January 31 Rate Rs.50,200 per kg
    Highest Rate in January Rs.52,600 per kg on 8 January
    Lowest Rate in January Rs.49,200 per kg on 30 January
    Overall Monthly Performance Decline
    Percentage Change -0.19%
    • In Dehradun, the prices of silver for the month of January opened at Rs.50,300 and closed at Rs.50,200. Overall, the prices of silver saw a decline of 0.19% for the month of January in Dehradun.
    • The prices of silver on 1 January 2020 decreased by Rs.600 when compared to the last day of December 2019.
    • Initially, the prices of silver increased because of the tensions in the Middle East. Silver hits its highest rate as well during this period and touched Rs.52,600 for a kg on 8 January 2020.
    • The prices fluctuated throughout the rest of the month due to the signing of the trade deal, the demand for riskier assets, and the coronavirus concerns. Silver prices hit its lowest rate on 30 January and touched Rs.49,200 per kg.

    Silver as an investment

    Silver is viewed as a safe investment option by millions across the globe, primarily on account of its versatility. A limited supply coupled with huge demand ensure that it finds takers anytime of the day, while its pocket friendly nature appeals to thousands in Dehradun. With youngsters keen to jump on the investment bandwagon, silver is finding its way into the investment portfolios of people who cannot afford gold but still wish to have a diverse portfolio. Purchasing physical silver and indulging in trade through silver contracts remain two of the most popular options of investment in Dehradun.

    Physical silver – Indians own a large amount of precious metal and silver can be found in almost every household. Coins, bars and jewellery account for most of the physical silver purchased as investments in Dehradun, with products available for every budget. Both men and women use silver jewellery as accessories in the city, making it a popular fashion statement. As an investment, wastage and making charges can dilute the value of a purchase, but the dual role a piece of jewellery serves makes it extremely attractive. Coins and bars can be purchased according to weight, with different purity levels for different budgets available. Generally, coins purchased from banks tend to be more expensive, on account of quality assurance and purity checks.

    Silver contracts – Indian markets have opened up to the concept of trading in silver, with the Multi Commodity Exchange, the National Multi Commodity Exchange and the National Commodity and Derivatives Exchange offering a platform for individuals who wish to indulge in trade. Knowledge about how markets function combined with astute investment sense can go a long way in maximising the profit one can earn through such trade.

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