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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 January 2018 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver rate on 1st January 2018||Rs.38,925 per kg|
|Silver rate on 31st January 2018||Rs.42,200 per kg|
|Highest Rate in January||Rs.42,700 per kg on 29 January|
|Lowest Rate in January||Rs.38,925 per kg on 1, 2 and 10 January|
|Overall Monthly Performance||Incline|
Trend of Silver Rate in Guwahati for December 2017 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver Rate on 1st December 2017||Rs.38,230 per kg|
|Silver Rate on 31st December 2017||Rs.39,265 per kg|
|Highest Rate in December||Rs.39,365 per kg on 30 and 31 December|
|Lowest Rate in December||Rs.36,545 per kg on 13 December|
|Overall Monthly Performance||Incline|
December 2017 - Week 1 (1st to 10th)
- Silver was trading at Rs.38,230 per kg on the 1st when the month began in Guwahati.
- Silver price in Guwahati rose to Rs.38,815 per kg on the 2nd after a decline in the US dollar index led to an incline in demand from industries and coin makers.
- With the US Senate having approved the country’s biggest tax reform plan, the dollar began to regain lost ground. This led to silver prices dropping to Rs.38,005 per kg on the 4th before plunging further to Rs.37,965 per kg the following day.
- The 6th saw silver rate in Guwahati rebounding to Rs.38,395 per kg with an increase in industrial demand for the metal.
- The rise in demand, however, couldn’t keep up against the strong US dollar and this led to silver prices dropping to Rs.37,235 per kg on the 7th.
- Poor global cues coupled with reduced demand for the metal saw prices declining further to Rs.36,620 per kg on the 8th.
- When the week ended, the industrial metal was recorded trading slightly higher at Rs.36,715 per kg due to a surge in demand brought about by the weakening of the US dollar.
December 2017 - Week 2 (11th to 17th)
- When trading opened for the second week silver was priced at Rs.36,920 per kg on the 11th with demand slightly improving from the previous week.
- However, silver price in Guwahati dropped to Rs.36,620 per kg the next day before declining to Rs.36,545 per kg on the 13th amid the strengthening US dollar and well-performing equity markets. This was also the lowest recorded monthly figure in the city.
- A decline in the US dollar index after the dollar weakened against other major emerging currencies led to an increase in demand for the white metal. This led to silver rate surging to Rs.38,395 per kg on the 14th.
- The 15th, however, witnessed silver rate in Guwahati plunging to Rs.36,920 per kg as demand for the metal subsided amid the strengthening dollar.
- Prices remained unchanged at Rs.36,920 per kg on the 16th but rebounded to Rs.37,180 per kg on the 17th with the new interest rate hike by the Fed Reserve proving to be unfavourable for the equities market.
December 2017 - Week 3 (18th to 24th)
- Silver was priced at Rs.38,395 per kg when the third week commenced on the 18th.
- However, the 19th saw silver rate in Guwahati declining to Rs.37,600 per kg with the US dollar gaining against other major emerging currencies and the well-performing equities market.
- Silver prices fluctuated for much of the week due to the unevenly performing US dollar and vagaries in demand for the industrial metal.
- On the 20th, the white metal was recorded trading at Rs.39,395 per kg which plunged to Rs.37,705 per kg on the 21st with a steep decline in demand by industrial units and coin makers against the strong US dollar index.
- The next couple of days saw the metal prices varying significantly amid the uneven global cues that influenced demand for the industrial metal. Silver was priced at Rs.38,395 per kg on the 22nd before dropping to Rs.37,965 per kg on the 23rd.
- The week ended with the white metal prices stabilising at Rs.38,395 per kg on the 24th amid the positive trends overseas.
December 2017 - Week 4 (25th to 31st)
- The last week commenced with silver holding steady at Rs.38,395 per kg on the 25th with steady demand by industrial units and coin manufacturers.
- Silver rate in Guwahati plunged to Rs.38,005 per kg on the 26th before rebounding to Rs.38,275 per kg the following day due to an increase in global demand brought about by the weakened US dollar.
- The weak US dollar index coupled with a poorly performing equities market led to silver prices rising to Rs.38,815 per kg and Rs.39,265 per kg on the 29th and the 30th respectively.
- Strong investor sentiments brought about the positive trends overseas led to silver prices in Guwahati holding steady at Rs.39,265 per kg on the 31st.
- Strong demand coupled with positive global cues resulted in Guwahati recording an incline of 2.70% in silver prices during the course of the month.
Trend of Silver Rate in Guwahati for November 2017 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver rate on 1st November 2017||Rs.38,995 per kg|
|Silver rate on 30th November 2017||Rs.38,640 per kg|
|Highest Rate in November 2017||Rs.40,520 per kg on 18 and 19 November|
|Lowest Rate in November 2017||Rs.38,640 per kg on 30 November|
|Overall Monthly Performance||Decline|
November 2017 - Week 1 (1st to 5th):
- When trading commenced for the month of November, silver was priced at Rs.38,995 per kg on the 1st.
- A sudden increase in domestic demand ahead of the festive season led to Silver rate in Guwahati surging to Rs.39,950 per kg on the 2nd.
- A weakened dollar coupled with poorly performing equities resulted in Silver price in Guwahati remaining high for much of the week.
- Steady demand coupled with positive trends overseas led to silver trading steady at Rs.39,355 per kg on the 4th and the 5th.
November 2017 - Week 2 (6th to 12th):
- The second week opened with the industrial metal priced at Rs.39,355 per kg on the 6th after steady industrial demand from the previous week.
- Demand for the safe-haven metal surged after the surprise arrests of the Saudi diplomats in the Middle East leading to political uncertainty. This led to Silver rate in Guwahati surging to Rs.40,040 per kg on the 7th.
- Steady demand coupled with positive global trends led to Silver price in Guwahati remaining unchanged at Rs.40,040 per kg on the next couple of days.
- The 10th, however, witnessed prices declining to Rs.39,970 per kg after world markets recovered from the initial downfall.
- Despite the weak overseas trends, domestic demand for the metal remained steady from industrial units and coin manufacturers. This led to rates remaining untouched at Rs.39,970 per kg until the 12th.
November 2017 - Week 3 (13th to 19th):
- The week commenced with the white metal priced at Rs.39870 per gram on the 13th.
- Prices surged to Rs.40,140 per kg on the 14th after the UK markets tumbled following the Brexit fallout.
- The increase in safe-haven demand led to Silver rate in Guwahati rising during the week and the industrial metal was recorded trading at Rs.40,240 per kg the next day.
- Though prices remained unchanged at Rs.40,240 per kg on the 16th, silver rates declined to Rs.40,040 per kg on the 17th as the dollar gained against other apex currencies.
- With the geopolitical crisis in the Korean peninsula and the United States intensifying, investors gravitated towards safe-haven assets such as silver. This led to Silver rate in Guwahati surging to Rs.40,520 per kg on the 18th.
- Steady global as well as domestic demand from industries and coin manufacturers led to silver rates holding steady at Rs.40,520 per kg for the rest of the week.
November 2017 - Week 4 (20th to 26th):
- The fourth week opened with silver trading at Rs.40,440 per kg on the 20th with world markets stabilising after the previous week’s downfall.
- The US dollar strengthened against a basket of other major emerging currencies amid firm equities market. This led to Silver rate in Guwahati declining to Rs.39,780 per kg on the 21st which plunged further to Rs.39,265 per kg on the 22nd.
- With tensions rising between the US and North Korea, safe-haven demand rose for the white metal pushing prices back to Rs.40,060 per kg on the 23rd.
- The week concluded on the 26th with silver holding at Rs.39,780 per kg on the 26th owing to steady demand from industrial units and coin makers.
November 2017 - Week 5 (27th to 30th):
- Poor local demand coupled with weak trends overseas led to Silver rate in Guwahati declining significantly during the week.
- When the weak commenced, silver was recorded trading at Rs.39,780 per kg on the 27th.
- Silver price in Guwahati plunged to Rs.39,680 per kg on the 28th after demand from industries and coin makers dropped during the week.
- Poor global trends coupled with reduced domestic demand led to silver being priced at Rs.38,640 per kg when the month concluded.
- Guwahati registered a loss of 0.91% in silver trade during the month owing to a poorly performing dollar coupled with weak trends overseas.
|Parameters||Silver price (per kg)|
|Silver rate on 1st October 2017||Rs.39,530 per kg|
|Silver rate on 31st October 2017||Rs.39,435 per kg|
|Highest Rate in September||Rs.40,440 per kg on 16 October|
|Lowest Rate in September||Rs.39,110 per kg on 5 and 19 October|
|Overall Monthly Performance||Decline|
October 2017 - Week 1 (1st to 8th)
- Demand for silver was trading lower than expected, with the industrial metal priced at Rs.39,530 per kg on 1 October.
- Prices fell as demand was poor, resulting in the metal falling sharply as geo-political tensions on the Korean peninsula did not affect the dollar rate too much.
- The lack of demand in spite of it being the festive season led to silver price in Guwahati plunging to Rs.39,110 per kg on 5 October.
- There was a recovery in price as a sudden surge in demand from Asia led to silver prices in Guwahati rising to Rs.39,680 per kg on 7 October.
- The relative lack of turbulent markets and a steady rise in local demand led to silver prices remaining constant at Rs.39,680 per kg on 8 October as the week ended.
October 2017 - Week 2 (9th to 15th)
- Prices were on the rise in the second week, with silver priced at Rs.39,950 per kg on 9 October following an early surge in markets.
- The renewed tension in the United States over the planned budgetary proposals led to a slight dip in the markets, which led to a rise in demand for safe-haven assets like bullion.
- Silver rose to trade at Rs.40,060 per kg on 10 October and continued to climb for the remainder of the week, trading at Rs.40,390 per kg from 12-15 October due to an ever-rising demand from Asian markets.
- Low dollar rates owing to trouble within the United States as well as disquiet over the Catalan independence vote led to unstable markets, increasing demand for silver and gold among investors.
October 2017 - Week 3 (16th to 22nd)
- Markets opened the week with silver priced at Rs.40,440 per kg on 16 October as the rise in price continued due to steady demand for the industrial metal.
- Minor fluctuations in price wre observed due to vagaries in demand, but price more or less held steady in the third week of October.
- With the beginning of Diwali, there was greater demand for silver and gold from retailers and jewellers alike, which helped keep prices steady.
- Silver traded at Rs.40,060 per kg on 18 October as higher demand for precious metals coupled with a stable U.S. dollar led to prices plunging.
- Silver rate in Guwahati were quite unsteady for the remainder of the week, with silver rising to trade at Rs.40,285 per kg on 20 October.
- Demand fell as silver ended the week priced at Rs.40,060 per kg on 21 & 22 October.
October 2017 - Week 4 & Week 5 (23rd to 31st)
- The last week of October saw the price of silver in Guwahati decline as there was a reduction in industrial demand due to unfavourable market conditions.
- Silver was priced at Rs.40,040 per kg on 23 October with the price dropping to Rs.39,780 per kg on 25 October due to a sustained decline in demand.
- Prices continued to fall with silver trading at Rs.39,435 per kg on 27 October following renewed uncertainty over the stability of the dollar rate.
- Local demand was also on the decline after the end of Diwali, resulting in lower demand for bullion by jewellers.
- Prices dropped to Rs.39,115 per kg on 29 & 30 October before stabilising at Rs.39,435 per kg on 31 October.
|Parameters||Silver price (per 1 kg)|
|Silver rate on 1st September||Rs.40,390 per kg|
|Silver rate on 30th September||Rs.39,530 per kg|
|Highest Rate in September||Rs.40,900 per kg on 9 and 10 September|
|Lowest Rate in September||Rs.39,530 per kg on 28 to 30 September|
|Overall Monthly Performance||Decline|
September 2017 - Week 1 (1st - 10th)
- On the 1st of September, silver was priced at Rs.40,390 and continued at the same rate till the closing hours of the 3rd.
- Silver rates in Guwahati surged significantly to Rs.41,075 per kg on the 4th because of an increase in safe-haven demand in the US. This consequently pushed silver rates up in various cities in the country.
- As investors zeroed in on the metal to balance out the economic fall out, silver rates in Guwahati surged again to Rs.41,230 per kg on the 5th.
- Another day’s price surge later, silver prices fell to Rs.41,230 per kg after the US dollar began showing signs of recovery.
- But, North Korea’s open admission about its latest nuclear test pushed silver rates back on an upward trajectory.
- By the time the week ended, silver rates in Guwahati had gone up to Rs.41,900 per kg - which was the metal’s highest rate this month.
September 2017 - Week 2 (11st - 17th)
- This week saw silver prices fall back to its decent levels after the impact of US - North Korea conflict seemed to fade.
- On the 11th, silver was trading at Rs.41,075 per kg, before falling to Rs.41,030 per kg on the 12th.
- Silver rates in Guwahati went down to Rs.40,890 per kg on the 14th as industrial demand tanked as US dollar value picked up gradually.
- Till the 17th of this month, silver rates in Guwahati remained at Rs.40,890 per kg and the week’s trading session drew to a close.
September 2017 - Week 3 (18th - 24th)
- The third week began on a relatively weaker note with the metal trading at Rs.40,440 per kg - a Rs.450 decline from the previous day’s closing rates.
- Prices fell again - this time by Rs.770 per kg - to trade at Rs.39,670 per kg on the 19th of the month.
- The 20th saw silver rates in Guwahati go up marginally to Rs.40,060 per kg before falling back to Rs.39,670 per kg on the 21st of September.
- On the 22nd, silver rates in Guwahati went up on the account of increased buying from jewellers - who stocked up to meet the upcoming festive demand.
- Silver was trading at Rs.40,040 per kg on this day and continued at the same rate till the closing hours of the week.
September 2017 - Week 4 (25th - 30th)
- The last week of September saw silver rates in Guwahati remain steady before one of the initial days saw prices rise considerably.
- On the 25th of September, the white metal was trading at Rs.39,670 per kg - a Rs.370 decline from the prices seen on the 24th of the month.
- With demand for the Dussehra season rising, and with jewellers and coin makers scaling up their purchases - silver rates went up to Rs.40,520 per kg on the 25th of September.
- However, this spike in demand was a one-time event, which led to prices falling on the 26th to Rs.39,780 per kg.
- After demand consolidated in the city, silver rates in Guwahati went down again on the 27th to Rs.39,530 per kg, which continued till the closing hours of the 30th.
- Silver rates in Guwahati declined by 2.12% this month, courtesy of a weak demand from both international and indian circles.
|Parameters||Silver price (per kg)|
|Silver Rate in 1st August||Rs.38,925 per kg|
|Silver Rate in 31st August||Rs.40,040 per kg|
|Highest Rate in August||Rs.40,190 per kg on 29 & 30 August|
|Lowest Rate in August||Rs.37,235 per kg on 5 & 6 August|
|Overall Monthly Performance||Incline|
August 2017 - Week 1 (1st - 6th)
- Silver demand seemed to be on the vane for much of week due to subdued demand, which trickled down from the previous month.
- On the 1st of August, silver was priced at Rs.38,925 per kg.
- Silver rate in Guwahati in dipped to Rs.38,455 per kg on the 2nd as there was no demand from either the coin makers or the industrial units.
- Silver rate in Guwahati slumped further to Rs.37,965 per kg on the 3rd as a result of demand still remaining weak.
- However, prices went up to Rs.38,120 per kg on the 4th as demand from coin makers and jewellers increased.
- This sudden rise in prices was an anomaly. Rates fell by nearly Rs.900 to go down to Rs.37,235 per kg as demand fell again amidst weak global demand.
- The week ended with silver still trading at Rs.37,235 per kg.
August 2017 - Week 2 (7th - 13th)
- The second week of August began on a glum note due to little change in demand.
- On the 7th, the white metal was trading at Rs.37,295 per kg. Rates surged to Rs.38,345 per kg as industrial demand pushed purchases up and subsequently the prices.
- Rates fell back again on the 9th to reach Rs.37,965 per kg as the number of purchases went down.
- The 10th saw silver rate in Guwahati rise to Rs.38,925 per kg as a direct result of the rising tensions between the US and North Korea.
- Silver price in Guwahati went up on the 11th also, to Rs.39,530 per kg, as investors —coin makers and industrial units — decided to increase their inventory.
- Over the 12th and the 13th, silver rates was seen holding at Rs.39,670 per kg as demand remained steady.
August 2017 - Week 3 (14 - 20):
- Silver rate in Guwahati fluctuated considerably towards the latter half of this week.
- On the 14th of the month, silver was trading at Rs.39,670 per kg. This rate continued on to the 15th as well, thanks to sustained purchases from various quarters of the city.
- The 16th, however, saw prices drop to Rs.38,815, due to a weak trend overseas.
- With investors ramping up their purchase, silver rates pushed back up to Rs.39,530 per kg on the 17th before falling again, to Rs.39,115 per kg.
- As demand was stable, rates remained at Rs.39,115 per kg till the end of the week.
August 2017 - Week 4 (21st - 27th)
- The US dollar bounced back during the mid week which affected global as well as local silver sales.
- On the 21st of August, silver was seen trading at Rs.39,115 per kg - the same price as seen at the closing hours of the 20th.
- Silver price in Guwahati went up to Rs.39,265 per kg on the 21st before remaining steady on the 22nd.
- The 24th saw price in Guwahati increase to Rs.39,355 per kg before dropping to Rs.38,995 per kg on the 25th as dollar rallied against other currencies.
- Silver prices remained at Rs.38,995 per kg over the final two days of this week, owing to steady demand for the metal.
August 2017 - Week 5 (28th - 31st)
- The final week of August saw silver demand remain uneven, with the metal trading at Rs.39,435 per kg on the 28th.
- Rates went up to a monthly high figure of Rs.40,190 per kg on the 29th and the 30th as jewellers ramped up their purchases to meet retail demand.
- When the month came to an end on the 31st, silver was seen trading at Rs.40,040 per kg.
- Overall, silver price trends surged by 2.86% for this month, thanks to a weak dollar and a strong domestic bullion demand.
|Parameters||Silver price (per kg)|
|July 1st Rate||Rs.38,640 per kg|
|July 31st Rate||Rs.38,640 per kg|
|Highest Rate in July||Rs.38,690 per kg on 3 July|
|Lowest Rate in July||Rs.36,035 per kg on 10 July|
|Overall Monthly Performance||No change|
July 2017 - Week 1 (1st to 9th)
- Silver prices in Guwahati started for the month of July at Rs.38,640 per kg.
- As there was a sustained buying trend from local industrial units, rates remained unchanged on the 2nd.
- The 3rd led to silver prices hitting a monthly high figure of Rs.38,690 per kg, thanks to a subpar performance on the part of the US dollar.
- Silver prices fell to Rs.37,705 per kg on the 4th before going up to Rs.37,800 as strong international demand led to a hike in local trading prices.
- Rates closed at Rs.37,115 per kg when the week ended as US jobs data pushed markets on an upward trajectory.
July 2017 - Week 2 (10th - 16th)
- The 10th of July saw silver trade at Rs.36,035 per kg - the lowest rate for the month - as US markets strengthened amidst a positive outlook.
- Rates, however, increased from the 11th onwards as media reports were ripe with claims that US President Trump’s family had colluded with Russia to win the election.
- The 12th again led to prices increase as US dollar tanked, which subsequently led to increased buying in the local market.
- Silver prices in Guwahati were holding at Rs.36,920 per kg on the 12th and 13th as investors decided to use the situation to their advantage.
- On the 14th, prices dipped to Rs.36,270 per kg as demand seemed to reach saturation levels.
- That notion, though, was short lived as purchases ramped up on the 15th to drive prices up to Rs.37,180 per kg as US economic data was headed for a fall.
July 2017 - Week 3 (17th - 23th)
- On the 17th, when the third week began, silver was priced at Rs.37,180 per kg, which then spiked to Rs.37,600 per kg on the 18th.
- The 19th as well maintained the positive growth with rates going up to Rs.37,705 per kg before a slowed down purchase brought rates down to Rs.37,600 per kg on the 20th.
- Investors, particularly those from industries and the jewellery segment, began purchasing silver more on the 21st, which led to the metal trading at Rs.37,800 per kg.
- During the last two days of the week, silver prices stabilised to hold at Rs.38,005 per kg.
July 2017 - Week 4 (24th - 31st)
- When the last week of July started, silver opened at Rs.38,120 per kg. This was due to a sustained demand from industrial units and coin makers.
- Rates went up to Rs.38,230 per kg on the 25th before going down to Rs.38,120 per kg because various sections of investors were waiting for a price correction.
- Silver rates were on the ascent on the 27th with prices reaching as high as Rs.38,690 per kg but decline considerably over the last few days of the month.
- The month ended with the white metal trading at Rs.38,640 per kg. Overall, price trends in the port city of Vizag saw a 0% change as prices picked up towards the latter half of the month after a fall during the initial days of the month.
|June 1 Rate||Rs.40,285 per kg|
|June 30 Rate||Rs.38,995 per kg|
|Highest Rate in June||Rs.40,890 per kg on 7 June|
|Lowest Rate in June||Rs.38,455 per kg on 21 and 27 June|
|Overall Monthly Performance||Decline|
June 2017 - Week 1 (1-4):
- Barring a price drop on one of the days, silver rates largely seemed to be one the incline during the first week of June.
- When trading commenced on the 1st of the month, silver was priced at Rs.40,285 per kg.
- The 2nd saw silver rates in Guwahati drop to Rs.39,950 per kg as investors remained cautious with their purchases.
- Positive cues from the global market helped silver prices increase to Rs.40,670 per kg on the 3rd and, with demand holding steady, maintain the same prices on the 4th of the month.
June '17 - Week 2 (5th - 11th)
- Silver price in Guwahati remained at Rs.40,670 per kg on the 5th and the 6th before increasing to reach the monthly high figure of Rs.40,890 per kg on the 6th.
- In the wake of positive US job data, silver prices went down to Rs.40,815 per gram on the 8th.
- Due to the lack of domestic demand from industrial units and coin makers, silver prices went down significantly to Rs.40,060 per kg on the 9th.
- The last two days of this week, i.e., the 10th and the 11th saw silver prices remain at Rs.40,060 per kg as there was no change in purchase figures.
June'17 - Week 3 (12th - 18th)
- Overnight trading cues led to silver trading at Rs.39,780 per kg when the third week began on the 12th.
- Prices dropped further as the metal the metal got expensive in the international market.
- On the 13th, silver price in Guwahati were down to Rs.39,110 per kg due to a major fall in demand before rising slightly and coming back down to Rs.39,110 per kg on the 15th of the month.
- The 16th of June saw silver rate in Guwahati decline to Rs.38,995 per kg as demand from local players saw little signs of picking up.
- Another paltry fall followed the next day, on the 17th, as rates went down to Rs.38,460 per kg, before continuing at the same rate on the last day of the week.
June '17 - Week 4 (19th - 25th)
- This week saw silver price in Guwahati reach a 9-month low figures as demand fell further owing to a strong US dollar performance.
- When trading commenced for the week on the 19th, silver prices were recorded at Rs.38,640 per kg.
- On the 21st, silver rates fell to Rs.38,455 per kg - the lowest monthly figure - as the US dollar rose consistently due to favourable economic conditions.
- Prices rose on the 22nd to Rs.38,460 per kg before going up consistently to reach Rs.38,925 per kg by the 24th.
- This rise in demand is because of sustained precious metal purchases from industries, jewellers, and retailers.
- Silver rates remained consistent to end the week at Rs.38,925 per kg on the 25th of the month.
June'17 - Week 5 (26th - 30th)
- Precious metal prices remained unchanged on the 26th as the markets were awaiting some key economic data from the government.
- The 27th saw silver price in Guwahati hit the monthly low figure of Rs.38,455 per kg yet again ahead of the Fed Reserve chairperson’s speech.
- After the US dollar fell slightly, demand for the metal went up to Rs.39,115 per kg on the 28th and the 29th of the month.
- The last day of the month saw silver trading at Rs.38,995 per kg as investors slowly eased out of their purchasing deals.
|May 1st Rate||Rs.40,040 per kg|
|May 31st Rate||Rs.40,060 per kg|
|Highest Rate in May||Rs.40,520 per kg on 30th of May|
|Lowest Rate in May||Rs.37,705per kg on the 10th and 11th May|
May ’17 – Week 1 (1st – 7th)
- On the very first day of May, this precious metal was priced at Rs.40,040 per kg but due to market fluctuations, reduced over the next few days.
- There was a fall in the demand for safe-haven bullion as a result of Asian equities. Due to this, the price of silver was relatively low. Additionally, the value of the U.S. dollar gained against the yen which in turn had an impact on the price of this metal.
- On the 2nd of May, silver was priced at Rs.39,115 per kg prior to reducing the next day to trade at Rs.38,925 per kg. The fluctuation in the demand for silver had an impact on its price.
- Due to a rise in the value of the U.S. dollar, the demand for silver started to reduce. On the 5th of May, silver was priced at Rs.37,965 per kg which was also the lowest at which this metal traded at for the first week of the month.
- A slight recovery was noted in the rate of this metal as the week came to an end with silver being priced at Rs.38,005 per kg on the last two days of the week.
May ’17 – Week 2 (8th – 14th)
- After Emmanuel Macron won the French Presidential elections, the euro strengthened, thereby impacting the price of silver.
- On the first day of the second week of May, silver was priced at Rs.37,965 per kg but reduced slightly the next day to trade at Rs.37,865 per kg due to variations in the demand for this metal from domestic markets.
- With a fall in the demand for this metal from coin makers and industrialists, the price of silver continued to fall as the week progressed.
- Silver was priced at Rs.37,705 per kg on the 10th of May and this rate was noted the next day as well. This was the lowest at which silver was priced at for the month of May in Guwahati.
- On the last day of week 2 in Guwahati, silver traded at Rs.37,865 per kg.
May ’17- Week 3 (15th – 21st)
- As the value of the U.S. dollar fell, the rate of silver increased and this week saw the demand for silver increase as well.
- On the 15th of the month, silver was priced at Rs.38,230 per kg and increased to be priced at Rs.38,640 per kg on 16th of May.
- After weak manufacturing data from the U.S. reduced expectations of an interest rate hike by the U.S. Fed, the rate of silver inched higher.
- On the 17th of May, silver traded at Rs.38,995 per kg and rose to be priced at Rs.39,265 per kg on the 18th of May.
- As a rise was noted in the demand for this precious metal, the price of silver increased to trade at Rs.39,115 per kg.
May ’17 – Week 4 (22nd – 28th)
- There were a number of fluctuations witnessed in the rate of silver during the fourth week of May in Guwahati.
- Silver traded at Rs.39,265 per kg on the 22nd of May before increasing to trade at Rs.40,040 per kg on the 23rd of May.
- As Asian stocks gained, the price of silver started to marginally fall with this metal being priced at Rs.39,670 per kg on the 24th of May.
- A slight increase in the price of silver saw this metal being priced at Rs.39,950 per kg on the 25th and 26th of May due to sustained demand.
- The rate of silver rose due to increased demand on the last two days of the fourth week and the metal was priced at Rs.40,190 per kg.
May ’17 – Week 5 (29th – 31st)
- As a result of market instability, a large number of variations were noted in the rate of silver during the final week of the month in Guwahati.
- Easing stock markets in Asia and geopolitical issues resulted in a marginal increase in the rate of silver.
- Silver was priced at Rs.40,285 per kg on the 29th of the month before increasing to a monthly high of Rs.40,520 per kg on the 30th of May.
- On the last day of May in Guwahati, this metal traded at Rs.40,060 per kg, recording an incline of 0.04% in the price.
|April 1st Rate||Rs.42,570 per kg|
|April 30th Rate||Rs.40,040 per kg|
|Highest Rate in April||Rs.43,055 per kg on 15th & 16th April|
|Lowest Rate in April||Rs.40,040 per kg on 29th & 30th April|
April ’17- Week 1 (1st to 9th)
- Silver prices in Guwahati fluctuated in the first week of April, though prices rose as the week ended.
- Silver traded at Rs.42,570 per kg on 1st April, with the price rising marginally as industrial units increased demand.
- A relatively low U.S. Dollar also led to a rise in international demand as exports were more affordable, which pushed prices to Rs.42,775 per kg on 5th April.
- Prices dipped slightly due to fluctuations in demand, with silver trading at Rs.42,570 per kg on 7th April.
- The week ended with silver priced at Rs.42,640 per kg on 9th April as local demand dipped in spite of an increase in silver demand globally.
April ’17 – Week 2 (10th to 16th)
- An increase in demand from coin makers as well as higher demand from industrial units overseas led to silver prices rising in the second week of April.
- Silver was priced at Rs.41,625 per kg on 10th April as overseas demand led to prices rising, with silver trading at Rs.42,640 per kg on 12th April.
- Prices continued to rise as the U.S. markets fell due to geo-political factors such as the North Korean missile launches, which in turn led to the U.S. Dollar losing value and an increase in demand for silver.
- Silver traded at Rs.43,030 per kg on 14th April, with the jump in price attributed to higher demand from investors keen to offset market losses as well as coin makers due to favourable conditions.
- Silver ended the week trading at a monthly high of Rs.43,055 per kg on 16th April as demand rose due to conducive market conditions.
April ’17 – Week 3 (17th to 23rd)
- Silver prices were stable as the week began but dipped due to a fall in demand as markets recovered.
- Silver was priced at Rs.43,030 per kg on 17th April but prices dropped in the subsequent days as the U.S. Dollar rose following robust trading on the bourses that saw stocks recovering after the previous week’s steep fall.
- Prices dropped to Rs.42,080 per kg on 21st April as overseas industrial demand dropped due to the rising cost of imports, which also led to a fall in domestic demand.
- Silver prices fell to Rs.41,980 per kg as the week ended on 23rd April.
April ’17 – Week 4 (24th to 30th)
- The fall in the price of silver continued as demand dropped sharply due to a general decline in orders across verticals.
- Silver was priced at Rs.41,635 per kg on 24th April, with the price dropping to Rs.40,520 per kg on 26th April amidst waning interest from jewellers and coin makers due to steep import costs.
- The European markets also rose as the French presidential candidate favouring European integration appeared to be in the lead, which led to a further reduction in demand for silver.
- Prices dropped to Rs.40,190 per kg on 28th April before closing the month at Rs.40,040 per kg on 30th April, resulting in a 5.94% decline in price over the course of the month.
|March 1st Rate||Rs.43,970 per kilogram|
|March 31st Rate||Rs.42,115 per kilogram|
|Highest Rate in March||Rs.44,100 per kilogram on March 2nd|
|Lowest Rate in March||Rs.40,040 per kilogram on March 15th|
March ‘17 - Week 1 (1st to 5th)
- Silver opened trading for the month of March at Rs.43,970 per kilogram.
- Increased industrial demand for the metal saw it marginally climb to Rs.44,100 per kilogram on March 2nd.
- A stronger US Dollar in light of expected US Federal Interest Rate hikes saw silver drop to Rs.42,730 per kilogram on March 3rd.
- Increased industrial demand and demand from coin makers saw silver recover to Rs.43,295 per kilogram for March 4th and March 5th.
March ‘17 - Week 2 (6th to 12th)
- A decline in demand from coin makers saw Silver open the second week of trading at Rs.42,925 per kilogram.
- Drop in industrial demand saw Silver slump to Rs.41,435 per kilogram on March 9th.
- An expected US Federal Interest Rate hike saw silver plummet to Rs.40,670 per kilogram on March 10th.
- Silver saw a further decline to Rs.40,520 per kilogram on March 11th and March 12th.
March ’17- Week 3 (13th to 19th)
- A marginal increase in demand from coin makers saw Silver open the third week of trading at Rs.40,760 per kilogram.
- A strong US Dollar and slump in industrial demand for the precious metal saw Silver drop to Rs.40,040 per kilogram on March 15th.
- Propped up by a slight increase in industrial demand, Silver climbed to Rs.40,890 per kilogram on March 16th.
- Silver remained stable and closed the week’s trading at Rs.40,815 per kilogram.
March ’17- Weeks 4 (20th to 26th)
- Sustained demand from coin makers and industry saw Silver open the week’s trading at Rs.41,075 per kilogram.
- An increase in trading in the FOREX market saw Silver rates drop to Rs.40,725 per kilogram on March 21st.
- Sustained demand for the precious metal saw Silver climb to Rs.41,435 per kilogram on March 24th.
- Sustained demand stabilized Silver at Rs.41,340 per kilogram to close the week’s trading.
March ’17- Weeks 5 (27th to 31st)
- Sustained demand by industry saw Silver open the week’s trading at Rs.41,900 per kilogram.
- A weakened US Dollar saw Silver climb further to Rs.42,115 per kilogram on March 28th and March 29th.
- Increase in demand for Silver saw it further climb to Rs.42,435 per kilogram on March 30th.
- Silver closed the month’s trading at Rs.42,115 per kilogram.
|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.
|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.
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?