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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 February 2017 (rates per kg)
|February 1st Rate||Rs.42,520 per kg|
|February 28th Rate||Rs.44,165 per kg|
|Highest Rate in February||Rs.44,165 per kg on 28th February|
|Lowest Rate in February||Rs.42,115 per kg on 3rd February|
February ‘17 - Week 1 (1st to 5th)
- Owing to a fall in demand from coin makers and industrialists in local markets, silver rates fluctuated 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 a marginal figure towards the end of the week, with silver trading at Rs.42,355 per kg on the 4th and 5th of February, 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 traded at Rs.42,520 per kg, with the prices increasing by Rs.410 to Rs.42,930 per kg a day later thanks to an increase in demand from coin makers.
- Fluctuations in price were recorded over the course of the week, with silver trading at Rs.42,950 per kg on the 9th of the month, followed by a considerable decline which saw prices fall to Rs.42,375 per kg on the 10th of February owing to a decline in industrial demand.
- On the 11th of February, an increase in domestic demand led to a marginal increase in prices as the metal traded at Rs.42,570 per kg.
- Prices gained stability 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 upsurge 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 on a consistent basis over the next three days owing to a sudden decline in the value of the U.S. Dollar.
- Silver rates were recorded at Rs.43,115, Rs.43,385, and Rs.43,520 on the 15th, 16th, and 17th of the month respectively.
- Domestic demand ensured that prices were stable despite fluctuations in demand 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.
Trend of Silver Rate in Dehradun for January 2017 (rates per kg)
|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|
January ‘17 - Week 1 (1st to 7th)
- Silver prices in Dehradun reflected trends across the country, with prices rising in the first week as demand rose.
- Silver was priced at Rs.39,035 per kg on 1st January, rising to Rs.39,530 per kg on 3rd January.
- An increase in industrial demand led to silver prices rising to Rs.40,670 per kg on 5th January, though prices fell due to a drop in demand.
- Silver ended the week trading at Rs.40,390 per kg on 7th January, recording an increase in price of Rs.1,355 per kg.
January ‘17 - Week 2 (8th to 14th)
- Silver prices rose on consistent demand during the second week of January, trading at Rs.40,390 per kg on 8th January.
- Prices rose as industrial demand increased due to a dip in U.S. Dollar values, with silver climbing to Rs.40,815 per kg on 10th January.
- An increase in local demand led to silver rising to Rs.41,295 per kg on 11th January, but prices soon fell due to a dip in demand.
- Silver traded at Rs.41,030 per kg on 13th January but recovered as the week ended to trade at Rs.41,230 per kg on 14th January.
January ’17- Week 3 (15th to 21st)
- An increase in industrial demand kept silver prices steady in spite of market fluctuations in the third week of January.
- 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 higher demand.
- Prices rose to Rs.41,990 per kg on 18th January before falling marginally to Rs.41,675 per kg on 20th January due to a decrease in domestic demand.
- Increased industrial demand from Asia ahead of Lunar New Year helped boost silver prices as the week ended, with silver trading at Rs.41,930 per kg on 21st January.
January ’17- Weeks 4 & 5 (22nd to 31st)
- The last two weeks of January saw silver prices fluctuate due to market volatility and a fluctuating U.S. Dollar.
- Silver traded at Rs.41,930 per kg on 22nd January, with the price rising to Rs.42,180 per kg on 23rd January as markets fell, increasing demand for bullion.
- Prices dipped in the next few days as demand from Asia slowed down, resulting in silver trading at Rs.41,835 per kg on 25th January.
- Local demand also fell, resulting in silver trading at Rs.41,075 per kg on 27th January.
- Prices recovered as the month ended, with silver trading at Rs.42,010 per kg on 30th January before falling to Rs.41,980 per kg on 31st January, recording an overall increase of 7.54%.
|December 1st Rate||Rs.40,450 per kg|
|December 31st Rate||Rs.39,035 per kg|
|Highest Rate in December||Rs.41,630 per kg on 8th December|
|Lowest Rate in December||Rs.38,460 per kg on 26th December|
December '16 - Week 1 (1st to 4th)
- The price of silver in Dehradun was Rs.40,450 per kg on 1st December. This high price was noticed due to an increase in demand for this precious metal.
- Due to sluggish stock markets, industrial demand was quite high and hence contributed to a further increase in price.
- Silver traded at Rs.40,795 per kg on 2nd December but fell marginally thereafter.
- On the final day of the week, silver closed at Rs.41,070 per kg.
December '16 - Week 2 (5th to 11th)
- As retail demand increased, a marginal rise was noted in the price of silver on the first day of the week.
- Silver was priced at Rs.41,055 per kg on 5th December as the U.S. Dollar fell against global currencies, which increased demand for bullion. This rate was maintained until the 6th of December. However, rate of silver decreased the next day.
- Prices of silver increased to Rs.41,630 per kg on 8th December, the highest rate for the month before declining the next day.
- Silver traded at Rs.41,345 per kg on the last day of the week.
December '16 - Week 3 (12th to 18th)
- Demand for silver decreased as stock markets began to rise due to good market conditions.
- On 12th December silver traded at Rs.41,345 per kg but declined steadily thereafter. This could be attributed to a reduction in demand.
- Speculation of interest hike by the U.S. Federal Reserve resulted in demand for silver reducing.
- Silver was priced at Rs.40,605 per kg on 15th December but declined to Rs.39,230 per kg on 16th December.
- Silver traded at Rs.39,305 per kg on 18th December which was the last day of week 3.
December '16 – Week 4 (19th to 25th)
- There was a marginal increase noted in the price of silver as the began, as compared to week 3 of December.
- Silver was priced at Rs.39,435 per kg on 19th December. However, this increase was not maintained and reduced the next day to Rs.39,195 per kg on 20th December as local demand also decreased.
- Although international demand was not high, local demand kept the markets buoyant during the week.
- This demand, however could not be sustained and silver decreased to Rs.38,700 per kg on 23rd December, which was the lowest rate for the week.
- Prices rose a little as the week ended, with silver trading at Rs.38,725 per kg on 25th December.
December '16 – Week 5 (26th to 31st)
- The price of silver fell on the first day of the week.
- Silver traded at Rs.38,460 per kg on 26th December, which was the lowest for the entire month.
- There was a marginal increase of Rs.200 in the price of silver on 27th December.
- Local demand also rose as the currency shortage abated, which helped prices reach Rs.39,345 per kg on 28th December.
- Silver traded at Rs.39,035 per kg on 31st December. A decline of 3.49% was noted in the value of silver as compared to the beginning of the month.
|November 1st Rate||Rs.42,910 per kg|
|November 30th Rate||Rs.41,055 per kg|
|Highest Rate in November||Rs.44,960 per kg on 9th November|
|Lowest Rate in November||Rs.40,190 per kg on 25th November|
November '16 - Week 1 (1st to 6th)
- Silver rates in Dehradun were stable as the month began due to strong demand from the industrial sector.
- Silver was trading at Rs.42,910 per kg on 1st November, which was further bolstered by a depreciating U.S. Dollar and unstable markets.
- The festive season led to higher demand for silver, with jewellers purchasing large volumes of the metal.
- Silver was priced at Rs.44,180 per kg on 6th November on the back of strong demand from all the retail and industrial sector.
November '16 - Week 2 (7th to 13th)
- The price of silver continued to remain high as markets were volatile and currency markets were weak.
- Silver traded at Rs.43,685 per kg on 7th November as news of the election of Donald Trump to the U.S. presidency led to markets falling.
- The shock announcement of the demonetisation of Rs.1,000 and Rs.500 notes led to panic on the bourses, which also boosted demand for bullion.
- Silver traded at its monthly high of Rs.44,960 per kg on 9th November before settling at Rs.42,005 per kg on 13th November.
November '16 - Week 3 (14th to 20th)
- The shortage of cash following the demonetisation announcement led to demand for silver falling.
- Silver was priced at Rs.41,760 per kg on 14th November, with the price dropping as the week progressed.
- Markets also stabilised after the previous week’s uncertainties, resulting in investors pulling out of the bullion market.
- Industrial demand fell sharply due to demonetisation, resulting in silver trading at Rs.40,735 per kg on 20th November.
November '16 - Week 4 and 5 (21st to 30th)
- The continued effect of demonetisation and strict regulation of bullion purchase led to demand for silver falling further.
- Silver was priced at Rs.40,890 per kg on 21st November, but declining demand led to rates dropping to Rs.40,190 per kg on 25th November, the lowest for the month.
- The U.S. Dollar began to strengthen as speculation of a Fed rate hike gained momentum, resulting in a reduction in demand for bullion.
- Silver ended the month at Rs.41,055 per kg on 30th November.
|1st Day||Rs.45,900 per kilogram|
|Last Day||Rs.43,035 per kilogram|
|Highest Price||Rs.45,900 per kilogram on 1st and 2nd October|
|Lowest Price||Rs.41,685 per kilogram on 7th October|
October 2016 – Week 1 and 2 (1st to 9th)
- The market was bearish this week on account of unfavorable trends.
- Initially, silver traded at Rs.45,900 per kilogram on 1st and 2nd September, the highest price for this month, as demand was up.
- Through the week, silver rates dropped as demand declined.
- By the end of the week, silver rates had dropped to Rs.41,800 per kilogram, a considerable decline in prices.
October 2016 – Week 3 (10th to 16th)
- Trends in the market played in favour of silver this week.
- Demand picked up as the U.S. Federal Reserve was uncertain of the interest rate hike.
- Silver rates climbed to Rs.42,600 per kilogram on 10th October.
- Towards the end of the week, prices dropped as industrialists and coin makers reduced their offtake.
- Silver prices fell to Rs.41,780 per kilogram by the end of the week.
October 2016 – Week 4 (17th to 23rd)
- Silver traded at Rs.41,970 per kilogram on 17th October as demand was low in the markets.
- Increased industrial offtake resulted in silver prices climbing back up.
- Silver was able to recover to Rs.42,130 per kilogram on 23rd October.
- With the wedding season approaching, jewellers and retailers are expecting a rise in demand.
October 2016 – Week 5 (24th to 31st)
- Silver traded at Rs.42,330 per kilogram on 24th October.
- Bullish tendencies sprouted in the global market as the dollar weakened against a basket of currencies.
- Festive demand also gave silver prices support to climb up.
- On 31st October, silver traded at Rs.43,035 per kilogram.
- The trend for silver rates this month was a decline of 6.24%.
|1st Day||Rs.45,225 per kilogram|
|Last Day||Rs.45,750 per kilogram|
|Highest Price||Rs.47,820 per kilogram on 7th September|
|Lowest Price||Rs.45,225 per kilogram on 1st September|
September '16 - Week 1 (1st to 4th)
- On 1st September, the price of silver was Rs.45,225 per kilogram.
- Silver prices were on the rise this week as prospects of a Fed rate hike died down in light of weak U.S. economic data.
- With the festive season near, demand in the domestic market also picked up.
- On 4th September, silver traded at Rs.46,760 per kilogram.
September '16 - Week 2 (5th to 11th)
- Silver traded at Rs.46,760 per kilogram on 5th September.
- Silver traded at Rs.47,820 per kilogram on 7th September which was the highest price for this month.
- At the start of the week, prices increased but soon started to drop on account of growing anticipation of an interest rate hike from the U.S. Federal Reserve.
- The price of silver fell to Rs.46,835 per kilogram on 10th and11th September.
September '16 - Week 3 (12th to 18th)
- On 12th September, silver traded at Rs.45,715 per kilogram.
- Reduced demand impacted silver prices through the week.
- Expectations of a Fed rate hike were still strong in the market.
- Towards the end of the week, silver was seen trading low at Rs.45,370 per kilogram.
September '16 - Week 4 (19th to 25th)
- The trend for the fourth week of September was an increase in silver prices.
- The rise in prices can be attributed to the Fed rate hike being put on hold as the presidential elections of the U.S. are fast approaching.
- On 19th September, the price of silver was Rs.46,110 per kilogram.
- Speculative demand was high amid a positive global and domestic market.
- Strong offtake by industrialists also gave silver rates a good boost.
- The price of silver climbed to Rs.47,535 per kilogram on 23rd September and stayed constant till the end of the week.
September '16 - Week 5 (26th to 30th)
- The dollar gained against a basket of currencies which led to a dampened silver market.
- On 26th September, silver traded at Rs.46,950 per kilogram.
- The Fed rate hike is on hold for now but the topic is up for discussion in November.
- Domestic demand dropped even though the festive season draws near.
- Silver traded at Rs.45,750 per kilogram on 30th September.
- The trend of silver prices this month was an increase of 1.16%.
|1st August||Rs.49,430 per kilogram|
|31st August||Rs. 45,460 per kilogram|
|Highest Price||Rs.49,670 per kilogram on 03rd August|
|Lowest Price||Rs.44,805 per kilogram on 29th August|
|Trend||Decline in silver prices|
August '16– Weeks 1 (1st to 7th)
- Silver traded at Rs.49,430 on 01st August 2016.
- Silver prices touched Rs.49,670 on 03rd of August which is the highest silver rate noted in the month of August.
- Due to muted demand from the domestic market, silver prices started to decline from the 04th of August and closed at Rs.47,255 per kilogram.
August '16– Week 2 (8th to 14th)
- There was a slight increase in silver prices of Rs.205 per kilogram on 8th of August.
- Silver prices increased by Rs.1135 on the 10th of August as demand from local jewellers increased.
- However, due to decrease in silver prices abroad and Fed rate hike speculation, silver prices fell gradually and closed at Rs.47,750 per kilogram.
August '16 – Week 3 (15th to 21st)
- Silver sold at Rs.47,750 per kilogram on the first day of the week.
- Silver prices increased by Rs.190 per kilogram on the 16th of August.
- Following the weak trend overseas, silver prices fell and closed at Rs.46,690 per kilogram.
August '16 – Week 4 (22nd to 28th)
- Silver fell by Rs.690 and traded at Rs.45,800 per kilogram on 22nd of August.
- Silver prices managed to end the week without any major fluctuations.
- Silver closed at Rs.45,040 per kilogram.
August '16 - Week 5 (29th to 31st)
- On 29th, Rs.44,805 per kilogram, the lowest silver rate of the month was recorded.
- Silver prices displayed a downward curve due to lack of demand, Fed rate hike expectation and strong U.S employment data.
- Silver closed at Rs.45,460 per kilogram on 31st of August.
|1st July rate||Rs.46,490|
|31st July rate||Rs.48,970|
|Highest rate in July||Rs.49,300 on the 6th of July|
|Lowest rate in July||Rs.46,490 on the 1st of July|
July'16 - Week 1 and 2 (1st to 10th)
- Silver prices were recorded at Rs.46,490 on the 1st of July.
- An increase by nearly Rs.1,500 drove prices up to Rs.47,920 on the 2nd to close the first week of the month with a significant increase.
- The price of silver increased by more than Rs.1,000 on the first day of the second week of July, and settled at Rs.48,965.
- An marginal decline on the 5th sent prices down to Rs.48,490 before an increase on the 6th pushed them up to Rs.49,300.
- A minor decline on the 7th brought prices down to Rs.49,265, followed by a significant decline which saw prices tumble to Rs.47,925.
- Prices fell again on the 9th and silver closed the week at Rs.47,720 per kilogram.
July'16 - Week 3 (11th to 17th)
- Silver started the third week of July trading at Rs.49,745 per kilogram.
- A decline by Rs.500 on the 12th was followed by another minor decline on the 13th as prices fell to Rs.49,065.
- Losses continued during the third week two consecutive declines on the 14th and 15th pushed prices down to Rs.48,745 before a minor increase raised them up to Rs.48,840 on the 16th.
- Prices did not change on the 17th, but a decline on the last day of the week ensured that silver closed the third week of July at Rs.48,840 per kilogram.
July '16 - Week 4 (18th to 24th)
- Silver rates fell marginally on the first day of the fourth week of July, and stood at Rs.48,360.
- A minor decline on the 19th brought prices down to Rs.48,090 before a slight increase on the 20th took them up to Rs.48,185.
- A significant decline on the 21st of July saw prices fall to Rs.46,665 before an increase brought them up to Rs.47,880 on the 22nd.
- A further drop in prices on the 23rd ensured that silver closed the fourth week of July at Rs.47,420.
July‘16 - Week 5 (25th to 31st)
- Silver prices dropped marginally on the first day of the last week of July, and started the week at Rs.47,160 per kilogram.
- Prices fluctuated until the 27th, after which an increase by Rs.1,500 saw prices jump to Rs.48,875 and they remained constant until the 29th.
- A marginal increase on the 30th saw prices rise to Rs.48,970 on the 30th and close the month at the same rate.
|June 1st Rate||Rs. 38,640 per 1 kg|
|June 30th Rate||Rs. 44,635 per 1 kg|
|Highest Rate in June||Rs. 44,635 per 1 kg for 1 kg for 30th June|
|Lowest Rate in June||Rs. 44,635 per 1 kg on June 1st|
Jun'16 - Week 1 (1st to 4th)
- Silver traded at Rs. 38, 640 per 1 kg on the 1st of June.
- Silver price surged by Rs.225 per kg on the 3nd of June at Rs. 38,865 per kg.
- Silver traded at Rs.39,755 per kg on the 4th of June.
Jun'16 - Week 2 (5th to 11th)
- Silver traded at Rs. 39,755 per kg on the 5th of June as there was no change in the price from the previous week.
- The price of silver came down by Rs.65 from Rs. 39,755 per kg to Rs. 39,690 per kg on the 6th of June.
- Silver witnessed a further decline as prices dropped down to Rs. 39,585 per kg on the 8th of June.
- Prices steadily increased over the week and silver traded at Rs.41,510 per kg on the 11th of June.
Jun'16 - Week 3 (12th to 18th)
- Silver remained unchanged and traded at Rs.41,510 per kg on the 12th of June.
- Silver hit Rs.41,935 per kg on the 14th of June.
- Silver traded at Rs.42,958 per kg on the 16th of June.
- The price declined further over the week and silver hit Rs.42,235 on the 18th of June.
Jun'16 - Week 4 (19th to 25th)
- Silver traded at Rs.42,235 per kg on the 19th of June.
- Due to heavy demand in the global market,the price of silver rose to Rs.42,405 per kg on the 21st of June.
- The price of silver relatively increased over the week and hit Rs.43,465 per kg on the 24th of June.
- The price of silver remained unchanged on the 25th of June at Rs.43,465 per kg.
Jun'16 - Week 5 (26th to 30th)
- Silver traded at Rs.43,465 per kg on the 25th and 26th of June.
- The price further increased to Rs.43,980 per kg on the 29th of June.
- Silver closed the month at Rs.44,635 per kg on the 30th of June.
|1st May rate||Rs. 42,590|
|31st May rate||Rs. 39,065|
|Highest rate in May||Rs. 42,675 on 2nd of May|
|Lowest rate in May||Rs. 38,795 on 30th of May|
May '16 - Weeks 1 and 2 (1st to 8th)
- Silver prices for the first two weeks of May in Dehradun fluctuated due to demand, before prices fell towards the end of the week.
- Silver traded at Rs. 42,590 per kg on the 1st of May, and rose to Rs. 42,675 per kg on the 2nd of May.
- The price fell slightly as the week progressed, reaching Rs. 41,565 per kg on the 4th of May as demand dropped.
- Prices rose marginally towards the end of the week, with silver trading at Rs. 41,875 per kg on the 8th of May.
May '16 -Week 3 (9th to 15th)
- Silver prices dipped this week, as market volatility resulted in demand rising and falling during the week.
- Silver was priced at Rs. 41,725 per kg on the 9th of May, and a drop in demand resulted in the price falling to Rs. 40,890 per kg on the 10th of May.
- A rising Dollar and the instable markets led to demand falling, and speculation of an interest rate hike by the U.S. Federal Reserve also pushed silver prices lower.
- The week ended with silver trading at Rs. 41,255 per kg on the 15th of May.
May '16 - Week 4 (16th to 22nd)
- Positive data from the U.S. manufacturing sector kept stock markets high and the Dollar also made gains, as silver prices dipped on low demand.
- Silver was priced at Rs. 41,255 per kg on the 16th of May, remaining unchanged from the previous week’s price.
- The price rose by Rs. 290 per kg on the 17th of May, trading at Rs. 41,545 per kg.
- Prices fell as the week ended, with silver trading at Rs. 40,135 per kg on 22nd of May.
May '16 - Weeks 5 and 6 (23rd to 31st)
- Prices fell as the markets rallied on anticipation of positive data from the U.S. market as well as the possibility of a rate hike in June.
- Silver traded at Rs. 40,060 per kg on the 23rd of May, with the price dropping to Rs. 39,695 per kg on the 24th of May as demand from industry slowed.
- Asian stock markets rallied, reducing the demand from industrial units in the sector.
- Prices fell to a low of Rs. 38,795 per kg on the 30th of May as stocks rose and the Dollar made rapid gains, before silver made a slight gain to end the month at Rs. 39,065 per kg on 31st of May.
|April 1st Rate||Rs.36,780|
|April 30th Rate||Rs.42,590|
|Highest Rate in April||Rs.42,690 on the 29th of April|
|Lowest Rate in April||Rs.36,000 on the 4th of April|
|Overall Performance||Gain / Positive|
Apr'16 - Weeks 1 & 2 (1st to 10th)
- Silver rates declined till the fourth day of the month following which a steady incline was recorded over the next four days before they gained stability on the 8th of the month.
- Prices were recorded at Rs.36.780 on the 1st of April and Rs.36,620 on the 10th.
- Rates began to increase on the fifth day of trading as local and international trends began firming in addition to an increase in industrial demand.
Apr ‘16 - Week 3 (11th to 17th)
- Silver rates increased steadily during the third week of the month.
- Prices were recorded at Rs.37,115 on the 11th of April and Rs.39,110 on the 17th.
- Rates increased by almost Rs.2000 during the course of the week.
Apr ‘16 - Week 4 (18th to 24th)
- The fourth week of April recorded consistent increases as the week progressed barring a slight decline on the 22nd after which they remained constant until the end of the week.
- Prices were recorded at Rs.38,920 on the 18th of April and Rs.41,155 on the 24th of the month.
- The penultimate week recorded the highest jump in prices as rates rose by over Rs.2200 over the seven days.
Apr ‘16 - Week 5 (25th to 30th)
- Silver prices continued increasing during the last week of April except for a marginal loss on the second day of trading.
- Prices were recorded at Rs.40,810 on the first day of the last week and Rs.42,590 on the last day of the month.
|1st March rate||Rs.37,005|
|31st March rate||Rs.36,495|
|Highest rate in March||Rs.38,640 on 18th|
|Lowest rate in March||Rs.36,455 on 29th|
Mar'16 - Week 1 (1st to 6th)
- Silver prices were down at the start of March.
- Prices were Rs.37,005 on 1st and Rs.36,640 on 6th.
- Silver gained substantially on 2nd and lost even more or 3rd to settle at Rs.36,640 for the week.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Silver was up in second week’s trading.
- Rates were Rs.37,695 on 7th and Rs.37,710 on 13th.
- Silver traded in positive on 8th before stabilizing till 13th.
Mar'16 - Week 3 (14th to 20th)
- Silver gained value over the third week.
- Rates were Rs.37,650 on 14th and Rs.37,865 on 20th.
- Silver experienced fluctuations in this week as prices peaked at monthly high level before shedding away the gains over the next few days.
Mar'16 - Week 4 (21st to 27th)
- Prices were down over the fourth week.
- Rates were Rs.37,930 on 21st and Rs.36,685 on 27th.
- Silver cumulatively lost Rs.1,245 in this week.
Mar'16 - Week 5 (28th to 31st)
- Silver prices fell in Dehradun towards the end of March.
- Prices were Rs.36,570 on 28th and Rs.36,495 on 31st, a cumulative loss of Rs.75.
Details of Silver Price in Dehradun (1 Kg) - Till December 2015
Most of the silver consumed in Dehradun is imported, meaning that international prices reflect on the amount one pays in the city. Purchasing 1 kg silver in the city would cost around Rs 35,956, as of December 21, 2015. The price of silver in Dehradun has witnessed massive ups and downs in 2015, with the cost touching peaks of Rs 43,500 in May and dropping to lows of Rs 35,250 in March and Rs 35,400 in December. The price of 1 kg silver has remained under the Rs 40,000 mark for most of the year, making it affordable and pocket friendly. Experts are of the opinion that silver prices could fall in the coming future, making it an ideal time to stock up on this precious metal.
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.