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Silver Price in Guwahati
Silver is one of the sought-after precious metals in the city of Guwahati. Apart from its ever-increasing industrial usage across different domains, silver is bought in various forms from traditional ornate elaborate jewellery pieces and silverware to gift articles for festive occasions and utensils meant for ritualistic purposes. Possession of the white precious metal is considered auspicious and a sign of good luck and prosperity in addition to being a symbol of social prestige in some sections in the city.
Many consumers hailing from middle-class and upper middle-class sections in the city buy the white precious metal as they consider it as a safe haven of investment in the long term against any cash crunch and financial instability. Many investors in Guwahati buy silver coins and bars given that the white precious metal is more affordable than the yellow metal. Owing to its intrinsic value, and instant acceptability anywhere in the world, silver is held in high regard.
Trend of Silver Rate in Guwahati 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)
- There were a number of fluctuations noted in the price of silver during the first week of February in Guwahati.
- Silver opened at Rs.42,520 per kg on the 1st due to steady demand for this metal in both international and domestic markets.
- The rate of silver rose to Rs.42,640 per kg on the 2nd due to increased demand. However, this could not be sustained and silver prices declined the next day to trade at Rs.42,115 per gram on the 3rd of February. This was also the lowest rate at which silver traded for the month of February in Guwahati.
- Due to a fall in the value of the U.S. dollar and resulting increase in demand, the rate of silver rose to Rs.42,355 per gram on the 4th of the month.
- Silver closed the first week of February by trading at Rs.42,355 per kg which was the same rate as that of the previous day due to steady demand.
February ‘17 - Week 2 (6th to 12th)
- During the second week, silver traded at Rs.42,520 per kg which was slightly higher than that of the previous day.
- Right after this, due to higher demand from industrialists, the price of silver rose to trade at Rs.42,930 per kg.
- Price of silver was Rs.42,950 per kg on the 9th of February thanks to sustained but lower demand for this metal.
- The price of silver fell to Rs.42,375 per kg on the 10th due to reduction in the demand for this precious metal.
- Prices fluctuated during the week, with silver continued trading at Rs.42,570 per kg on 12th February due to a sudden rise in demand.
February ’17- Week 3 (13th to 19th)
- A minor variation in the rate of the U.S. dollar led to sudden decrease in the demand for silver with this metal trading at Rs.43,280 per kg on the first day of the third week of February.
- This demand was however not very steady and fluctuated throughout the week. On the 14th of February, the price of silver plunged to Rs.43,030 per kg.
- Prices rose to Rs.43,115 per kg on 15th February and later rose to Rs.43,385 per kg on 16th February due to a sudden drop in the value of the U.S. Dollar.
- Local demand kept prices stable as demand fluctuated, trading at Rs.43,520 per kg on 17th February.
- The week ended with silver trading at Rs.43,400 per kg on 19th February, due to steady demand.
February ’17- Weeks 4 & 5 (20th to 28th)
- The price of silver in the last two weeks of February fluctuated slightly varying demand for this precious metal from industrialists and coin makers.
- Silver was priced at Rs.43,270 per kg on 20th February, before rising slightly to trade at Rs.43,285 on the 21st of February.
- There was an increase in demand for this metal resulting in prices rising to trade at Rs.43,240 per kg on the 22nd of February.
- A slight increase in demand led to silver trading at Rs.43,680 per kg on 24th February.
- Silver prices continued to trade at Rs.43,910 per kg on 25th February, with the price staying steady the next day as well.
- Silver prices continued to rise as the month ended, trading at Rs.44,165 per kg on 28th February to record an overall rise of 3.86%. This was also the highest at which silver traded for the month of February.
Trend of Silver Rate in Guwahati 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 Guwahati rose in the first week of January as demand from the industrial sector as well as coin makers increased.
- Silver was priced at Rs.39,035 per kg on 1st January and rose to Rs.39,530 per kg on 3rd January on increased demand due to a fluctuating U.S. Dollar.
- Prices continued to increase as domestic demand also rose, with silver trading at Rs.40,670 per kg on 5th January before falling slightly due to a dip in demand.
- Silver was priced at 40,390 per kg as the week ended on 7th January, registering a weekly rise in price of Rs.1,355 per kg due to higher industrial demand.
January ‘17 - Week 2 (8th to 14th)
- Silver prices continued to rise in the second week of January as markets were volatile, which resulted in higher demand for bullion.
- Silver was priced at Rs.40,390 per kg on 8th January as local demand for silver increased.
- Demand from coin makers also pushed prices higher, with silver trading at Rs.40,815 per kg on 10th January.
- Market fluctuations kept demand for silver high, as the metal traded at Rs.41,295 per kg on 11th January.
- Prices fell to Rs.41,030 per kg on 13th January before closing the week at Rs.41,230 per 14th January.
January ’17- Week 3 (15th to 21st)
- The third week saw prices of silver continue to rise, though there were a few fluctuations in demand.
- Silver was priced at Rs.41,230 per kg on 15th January, as a rise in industrial demand led to prices rising to Rs.41,560 per kg on 16th January.
- A drop in the U.S. Dollar led to higher demand for silver as the metal traded at Rs.41,805 per kg on 19th January.
- Global markets took their cue from the U.S. stocks, which were shaky due to the impending transfer of power, resulting in a rise in demand for silver.
- Silver ended the week trading at Rs.41,930 per kg on 21st January, recording a weekly increase of Rs.700 per kg.
January ’17- Weeks 4 & 5 (22nd to 31st)
- Prices in the last two weeks of January were stable for the most part, with a few fluctuations towards the end of the month.
- Silver was priced at Rs.41,930 per kg on 22nd January and rose to a monthly high of Rs.42,180 per kg on 23rd January as markets dropped, which boosted demand for silver.
- Prices regularised during the week, with silver trading at Rs.41,835 per kg on 25th January.
- The Lunar New Year holiday led to a decrease in demand from Asian markets, which led to silver falling to Rs.41,075 per kg on 27th January.
- Prices rose marginally as the month ended, with silver trading at Rs.42,010 per kg on 30th January.
- The month ended with silver priced at Rs.41,980 per kg.
|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.38,700 per kg on 23rd December|
December 2016 - Week 1 (1st to 4th):
- Guwahati saw silver prices fluctuate during the month of December.
- On 1st, silver was seen trading at Rs.40,450 per kg but climbed to Rs.40,795 on the 2nd.
- The 3rd saw prices gain a little more when compared to the previous day for silver to trade at Rs.41,070.
- When the week ended on the 4th, silver was seen trading at Rs.41,070 per kg, as it increased by Rs.570.
December 2016 - Week 2 (5th to 11th):
- Week 2 began with silver trading at Rs.41,055 per kg and witnessed quite a bit of fluctuations for the next few days.
- On 9th, silver prices increased to Rs.41,290 per kg courtesy of a sudden upswing in global demand.
- When the week ended on 11th, silver prices were up by a little bit which helped th metal trade at Rs.41,345 per kg.
December 2016 - Week 3 (12th to 18th):
- As there was no major catalytic factors around the world, silver prices seemed to go down over the third week of December.
- When week 3 began on the 12th, silver was seen trading at Rs.41,345 per kg.
- However, prices decreased significantly to hit Rs.40,605 per kg on 15th.
- On 18th, at the end of the week, silver was seen trading at Rs.39,305 per kg as global trends saw a further decrease.
December 2016 – Week 4 (19th to 25th):
- Silver prices continued on its downward trend during the fourth week as well/
- When the week began on the 19th, silver was trading at Rs.39,345 per kg but fell considerably to hit Rs.38,815 per kg on the 22nd.
- Prices dropped further to Rs.38,700 per kg on the 23rd, but gained a little bit more on the 24th.
- At the end of week 4, silver traded at Rs.38,725 per kg as demand saw a slight increase on Christmas.
December 2016 – Week 5 (26th to 31st):
- The last week of 2016 saw silver prices improve when compared to the previous four weeks.
- On 26th of December, silver prices fell from previous week’s prices to hit Rs.Rs.38,460 per kg .
- Silver traded at Rs.39,680 per kg on 29th as markets saw some fluctuations.
- The last day of the year silver prices fell to Rs.39,035 per kg, as 2016 came to an end.
- Overall, silver prices in Guwahati saw a change of -3.46% for the month of December.
|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)
- The price of silver was high as the month began as consistent demand from the industrial sector kept prices high.
- Silver was priced at Rs.42,910 per kg on 1st November as retail demand also increased due to the festive season.
- The upcoming U.S. election and uncertainty over the results led to markets falling, which led to silver demand increasing.
- Silver traded at Rs.44,180 per kg on 6th November.
November '16 - Week 2 (7th to 13th)
- Silver prices stayed high as demand was high due to fluctuating markets and consistent demand from industry.
- Silver was priced at Rs.43,685 per kg on 7th November as U.S. markets fell on the news of Donald Trump securing the U.S. presidency.
- The surprise announcement of the demonetisation of Rs.1,000 and Rs.500 notes led domestic markets to slide, which led investors to invest in bullion.
- Silver prices reached a high of Rs.44,960 per kg on 9th November but slipped as the week ended to Rs.42.005 per kg on 13th November.
November '16 - Week 3 (14th to 20th)
- The currency shortage led to demand for silver falling during the week.
- Silver traded at Rs.41,760 per kg on 14th November as markets began to rise, which led to interest in silver declining.
- Overseas demand also fell as currency markets stabilised after the uncertainty of the previous week.
- Silver prices fluctuated during the week but ended at Rs.40,735 per kg on 20th November as demand was low.
November '16 - Week 4 and 5 (21st to 30th)
- Silver prices fell as industrial demand failed to meet expectations.
- Domestic retail demand was also low due to the currency shortage and strict regulation of bullion purchases.
- Silver traded at Rs.40,890 per kg on 21st November as international demand also slowed due to a strong stock market and a resurgent U.S. Dollar.
- Silver fell to Rs.40,190 per kg on 25th November as retail demand all but ceased.
- Prices rose marginally as the month ended, with silver trading at Rs.41,055 per kg on 30th November.
|October 1st Rate||Rs.45,900|
|October 31st Rate||Rs.43,035|
|Highest Rate in October||Rs.45,900 on October 1st and October 2nd|
|Lowest Rate in October||Rs.41,685 on October 7th|
October ’16 – Weeks 1 and 2 (1st to 9th)
- The price of silver stood at Rs.45,900 on the 1st of October, and rates remained stable on the 2nd too.
- Prices then began their gradual decline until the 8th, when they hit Rs.41,800 per gram and remained unchanged on the 9th as well.
- The overall decline in prices between the start of the month and the 9th of October was Rs.1,100.
October ’16 – Week 3 (10th to 16th)
- Silver was priced at Rs.42,600 on the first day of the third week of October, marking an increase of Rs.800 from the last day of the previous week.
- Prices then fell by Rs.15 and the rate per kg was recorded at Rs.42,585 on the 11th and 12th of October, after which they began falling on a consistent basis for the next three days.
- Silver prices were recorded at Rs.41,780 on the 15th of the month and they remained stable on the 16th to close the week at the aforementioned rate.
- The third week of October ended with silver rates declining by Rs.820 in comparison with the previous week.
October ’16 – Week 4 (17th to 23rd)
- Silver rates were recorded at Rs.41,970 at the start of the fourth week of October thanks to an increase on the first day of the week.
- An increase of Rs.320 on the second day of the week saw prices climb to Rs.42,290 after which they first declined by Rs.20, and the increased by Rs.20 on the following two days to remain at Rs.42,290 on the 20th of October.
- Prices fell on the 21st of October, but a rise on the 22nd to Rs.42,130 saw rates remain constant for one more day and close the week at Rs.42,130 per kg.
- Silver prices rose by Rs.160 between the start and the end of the fourth week of October.
October ’16 – Week 5 (24th to 31st)
- Silver prices were recorded at Rs.42,330 on the 24th of October was thanks to an increase in rates from the closing levels of the fourth week.
- Rates increased over the next two days in succession before a decline on the 27th saw them plunge to Rs.42,295.
- Prices were recorded at Rs.42,500 on the 28th and then declined to remain cosntant for two days at Rs.42,270.
- A relatively big increase on the last day of the month saw prices climb to Rs.43,035 and end the month strongly.
|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)
- Silver prices rose in the beginning of the month.
- Positive global trend overseas impacted silver prices.
- Silver climbed up as investors flocked to these metals.
- Silver trading opened at Rs.45,225 per kilogram in September.
- The rate climbed Rs.46,760 per kilogram around 3rd and 4th of the month.
- The week’s incline was recorded at 3.39%.
September '16 - Week 2 (5th to 11th)
- The looming Fed rate hike led to fluctuation in silver prices this week.
- Silver was recorded at Rs.46,760 per kilogram on the 5th of September.
- The highest was achieved on 7th, at Rs.47,820 per kilogram, this week.
- With hopes of the rate hike, silver prices dipped to Rs.46,835 per kilogram on 10th and 11th of the month.
September '16 - Week 3 (12th to 18th)
- Owing to hawkish comments from the Federal Reserve, silver continued to drop in the third week of the month.
- A weak global trend also led to a decline in demand for silver.
- Silver traded at Rs.45,715 per kilogram on 12th September.
- A fall in offtake from industrialists and coin makers resulted in the lowering of silver demand in the domestic market.
- Silver lost Rs.1,465 per kilogram by the end of week 3, trading at Rs.45,370 per kilogram on 17th and 18th September.
September '16 - Week 4 (19th to 25th)
- Silver price reached Rs.46,110 per kilogram on 19th September.
- Fed rate hike has been put on hold, due to which Silver climbed up this week.
- The Fed rate hike was put aside till the end of the year owing to presidential elections which is around the corner.
- Silver reached its peak this week on 22nd September at Rs.47,590 per kilogram.
- Although demand went high, prices fell marginally to Rs.47,535 per kilogram on 23rd September and maintained the same rate for the remainder of the week.
September '16 - Week 5 (26th to 30th)
- Silver dipped this week due to weak industrial support.
- Silver traded at Rs.46,950 per kilogram on 26th September.
- The strengthening dollar led to a weakened global trend.
- Silver fell to Rs.45,750 per kilogram by 30th September.
- Although silver fell this week, September recorded an increase of 1.16%.
|1st August||Rs.49, 430 per kg|
|31st August||Rs. 45, 460 per kg|
|Highest Price||Rs.49, 670 per kg on 03rd August|
|Lowest Price||Rs.44, 805 per kg on 29th August|
|Trend||Decline in silver prices|
August '16– Weeks 1 (1st to 7th)
- Silver opened at Rs.49, 430 per kg at the beginning of the week and performed well for the first 5 days of the week.
- Highest silver rate for the month was marked on 03rd August when silver trade at Rs.49,670 per kilogram.
- Silver closed at Rs.47, 255 per kilogram on 7th of August.
August '16 – Week 2 (8th to 14th)
- Silver prices slightly increased on the first 2 days of the week and traded at Rs.47,460 per kilogram.
- Silver prices continued to climb on 10th and 11th of August when silver was traded at Rs.48,595 per kilogram and Rs.48,330 per kilogram, respectively.
- The week concluded with a downward curve as silver prices declined from 12th to 14th August due to muted demand from domestic participants.
- Silver closed at Rs.47,750 per kilogram.
August '16– Week 3 (15th to 21st)
- Major fluctuations in silver prices was not reported in the 3rd week of August but a declining trend was noted.
- Silver opened at Rs.47,750 and managed to avoided significant prices changes til the 19th of August.
- Due to weak trend overseas and positive U.S employment data, silver prices fell and touched Rs.46,690 per kilogram on 20th August and closed at the same price on 21st August.
August '16 – Week 4 (22nd to 28th)
- Despite Fed rate hike prediction, silver managed to shun drastic fall in silver prices this week.
- Silver opened at Rs.45,800 per kilogram and a slight increase of Rs.135 per kilogram was noted on 23rd August.
- Silver further drifted to Rs.45,015 per kilogram mid-week before settling at Rs.45,040 per kilogram on 28th august.
August '16 - Week 5 (29th to 31st)
- The lowest silver rate in the month of August was recorded this week on 29th August when silver traded at Rs.44,805 per kilogram.
- Fed rate hike interpretation and muted demand from jewellers and coin makers led to decline in silver prices on 30th of August when silver traded at Rss.45,485 per kilogram.
- Silver drifted further and closed at Rs.45,460 per kilogram.
|1st Day||Rs.46,490 per kg|
|Last Day||Rs.48,970 per kg|
|Highest Price||Rs.49,745 per kg on 11th July|
|Lowest Price||Rs.46,490 per kg on 1st July|
July'16 - Week 1 and 2 (1st to 10th)
- On the first day of the month, the price of silver was at its lowest, costing Rs.46,490 per kg.
- There was a minor increase noted in the price after that to Rs.47,920 per kg and this price was maintained until the 3rd of July.
- Minor fluctuations were noted in silver rates and on the 6th there was a sharp incline in the price of silver to Rs.49,300 per kg.
- Rate of silver decreased slightly to close at Rs.47,720 per kg on the last day of the week.
July'16 - Week 3 (11th to 17th)
- The highest price of silver for the month was seen on the 11th at Rs.49,745 per kg.
- A minor decline of Rs.500 was seen in the rate of silver the next day and continued to reduce even further throughout the week.
- Silver prices stayed steady at Rs.48,840 per kg on the last two days of week 3.
July '16 - Week 4 (18th to 24th)
- A minor decline was seen on the first day of week 4 to Rs.48,360 per kg and continued declining after that as well.
- There were fluctuations noted in the price of silver as the week progressed.
- Price of silver fell drastically to cost Rs.46,665 per kg on the 21st which was also the lowest for the fourth week.
- On the final day of the week, the price of silver was Rs.47,420 per kg.
July‘16 - Week 5 (25th to 31st)
- Fluctuations were witnessed in the rate of silver throughout the week.
- Silver prices varied between Rs.47,160 per kg to Rs.47,375 per kg before rising slightly.
- On the final two days of the week, the price of silver was steady at Rs.48,970 per kg.
|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)
- Prices of silver in Guwahati began the week strong but fell as demand slumped.
- The price of silver on the 1st of May was Rs. 42,590 per kg and the price rose to the monthly high of Rs. 42,675 on the 2nd of May as demand was high.
- The price dropped as the week progressed, with demand slowing on the domestic front, trading at Rs. 41,595 per kg.
- Silver traded at Rs. 41,875 per kg on the 8th of May, a slight increase on the earlier rate.
May '16 -Week 3 (9th to 15th)
- Silver prices fell as demand from international markets dropped, impacting domestic demand.
- The Dollar made slight gains during the week, which resulted in silver trading lower than usual.
- Silver traded at Rs. 41,725 per kg on the 9th of May, with the price dipping further on the following day.
- As the markets fluctuated, silver made a resurgence, climbing to Rs. 41,570 per kg before dropping to Rs. 41,255 on the 15th of May.
May '16 - Week 4 (16th to 22nd)
- Silver prices stayed constant for the first half of the week but dipped later in the week as the possibility of an interest rate hike in June gathered momentum.
- Silver retailed at Rs. 41,255 per kg on the 16th of May and rose the following day on market volatility.
- The prices soon fell as stock markets rallied as data indicated the possibility of a rate hike in June, with the Dollar gaining on other currencies.
- Silver traded at Rs. 40,135 per kg on the 22nd of May, a fall of Rs. 1,120 since the start of the week.
May '16 - Weeks 5 and 6 (23rd to 31st)
- Silver dipped further in the last week of May, as speculation of a rate hike in June and positive data from the U.S. job market kept the Dollar and stock market high.
- Silver retailed at Rs. 40,060 per kg, with the price declining as the week progressed.
- Prices stabilised around the Rs. 39,600-mark mid-week, though they continued to decline.
- The biggest drop was on the 30th of May, when prices fell to Rs. 38,795 as the economy anticipated better-than-expected figures from the job market.
- The price rose by Rs. 270 on the 31st of May to close the month at Rs. 39,065 per kg.
|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 during the first four days of the month after which they increased steadily for two days gaining stability for remainder of the ten-day period.
- Prices were recorded at Rs.36,780 on the 1st of the month and Rs.36,620 on the tenth day of April.
- Prices began to increase on the fifth day of trading as international and domestic trends grew stronger amidst 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 first day of the week and Rs.39,110 on the last.
- The overall increase in prices over the week exceeded Rs.2000.
Apr ‘16 - Week 4 (18th to 24th)
- Silver rates fluctuated during the week and became stable on the last two days of trading.
- Prices were recorded at Rs.38,920 on the 18th of April and Rs.41,155 on the 24th.
- The increase in prices over the week exceeded Rs.2200, making it the best trading week for jewellers in April.
Apr ‘16 - Week 5 (25th to 30th)
- Apart from a slight decline in prices on the fourth and last day of trading, silver prices increased consistently over the last week of April.
- Prices were recorded at Rs.40,810 on the first day of the 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)
- Prices were down in the first week of trading this month.
- Prices were Rs.37,005 on 1st and Rs.36,640 on 6th.
- Silver appreciated on 2nd before losing out the gains and then some on 3rd.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Silver managed to perform positively in the second week.
- Rates were Rs.37,695 on 7th and Rs.37,710 on 13th.
- Silver posted a net gain of Rs.15 during the week.
Mar'16 - Week 3 (14th to 20th)
- The gains were bigger in the third week.
- Rates were Rs.37,650 on 14th and Rs.37,865 on 20th.
- Silver ended the week Rs.215 higher, with a monthly high of Rs.38,640 observed on 18th.
Mar'16 - Week 4 (21st to 27th)
- Prices reverted back to declining trend in the fourth week.
- Rates were Rs.37,930 on 21st and Rs.36,685 on 27th.
- There was a net loss of Rs.1,245 in the week.
Mar'16 - Week 5 (28th to 31st)
- Prices continued falling in the fifth week also.
- Prices were Rs.36,570 on 28th and Rs.36,495 on 31st.
|1st February rate||Rs.34,970|
|29th February rate||Rs.36,295|
|Highest rate in February||Rs.38,640 on 12th|
|Lowest rate in February||Rs.34,970 on 1st|
Week 1 (1st to 7th)
- Silver was trading in the positive in the first week.
- Prices were Rs.34,970 on 1st and Rs.36,925 on 7th.
- Silver had a highly profitable week in which it rose by almost Rs.2,000 and didn’t have a single negative session.
Week 2 (8th to 14th)
- The second week was again profitable for silver.
- Rates were Rs.36,950 on 8th and Rs.38,525 on 14th.
- Silver started out weakly, losing some value till 11th before rallying on 12th and stabilizing on 13th and 14th.
Week 3 (15th to 21th)
- Silver was gainful in third week also, albeit the gains were less than the first 2 weeks.
- Prices were Rs.37,220 on 15th and Rs.37,930 on 21st.
- Silver was mostly stable over the week with no substantial rises or gains as it closed the week Rs.710 higher.
Week 4 (22nd to 29th)
- Silver traded in the negative towards the end of February.
- Prices were Rs.37,615 on 22nd and Rs.36,295 on 29th.
- Silver lost value on all days of the week before stabilizing towards the end at Rs.36,295.
Silver as an investment
Silver, also known as ‘poor man’s gold’, is in demand in the city of Guwahati given that the white precious metal is within the reach of many small investors (10 grams of silver coin is pegged at Rs.340 as of December 2015). Silver is viewed as a safe hedge against overall inflation in the country and economic uncertainty. Many consumers in Guwahati consider sterling grade silver as a robust form of investment in the long term. Sterling grade, also known as grade 925, consists of 92.5% silver and 7.5% copper.
Physical silver: Many consumers in Guwahati buy silver coins and bars which are the most preferred and conventional form of investment. Silver is also widely sought in the form of ornate silverware in addition to various traditional ornaments. There are several major jewellery stores across the city of Guwahati which sell different kinds of silver articles from decorative artefacts to items used for ritualistic purposes. Specially designed pieces of jewellery such as anklets, toe-rings, necklaces and bracelets among many others are also in demand.
Silver contracts: Silver is traded in National Multi Commodity Exchange (NMCE), Multi Commodity Exchange (MCX) and National Commodity & Derivatives Exchange (NCDEX). SILVERM (silver mini) and SILVER (1000) are traded in units of 5 kg while Silver micro (SILVERMIC) is traded in 1 kg (unit). SILVERHEDG is traded in units of 30 kg. The base value of Silver mini, Silver micro and Silver 1000 is 1 kg while the maximum order size is 600 kg with purity grade 999.
Silver rate in Guwahati
The rate of silver in Guwahati depends on various national and international economic factors. The price of 1 kg of silver was pegged at Rs.40185 in January 2015. The rate of silver decreased by -3.5% to Rs.38768 in the month of February. The slide continued in the following months of March and April when price of the white precious metal fell by -4.5% and -1% to Rs. 37413 and Rs.37000 respectively. The price of silver decreased further in the latter part of 2015 barring a mini rally in the month of May when it rose marginally by 3.5% to Rs.38321. The price of the precious metal, however, plummeted in the month of June when it was pegged at Rs.37955. The rate of silver fell by -5.1% to Rs.36019 in the month of July and continued to decrease further in the following months of August and September to Rs.35978. Barring minor fluctuations, the price of silver hovered around Rs.35,234 in the month of October but fell by -3.2% to Rs.34100 in November. 1 kg of silver was pegged at Rs.34343 in December.
Also Check Silver Price in NearBy Cities of Guwahati
|Silver Rate in Kolkata||Silver Rate in Patna||Silver Rate in Ranchi|
|Also Know: Gold Rate in Guwahati|
Read more on Silver
- Silver – Poor Man’s Gold
- Silver Bars and Silver Coins
- Silver Jewelry
- Why Should You Invest in Silver?
- Are Long Term Silver Investments a Good Idea?
News About Guwahati Silver Rate
Volatility in Gold scares away Indian buyers
The yellow metal had a really good start this year, in fact it has been the best in three decades and global investors have piled on gold as a safe haven from the financial turmoil in 2016. But the buyers in India have not been so enthusiastic about investing in the yellow metal. Buyers usually shy away from investing in gold when it is volatile. Bullion rose by 19% to %1,263.48 an ounce this year after the indication by Federal Reserve that it might delay further interest rate increases.
17th February 2016