Silver Rate in Himachal Pradesh

  • Today's Silver Rate In Himachal Pradesh ( 21 Jul 2019 )
    ₹ 44
    Today's Silver Rate per gram
    Compare Silver Rate In Himachal Pradesh (Today & Yesterday)
    Today
    (21 Jul 2019)
    Yesterday
    (20 Jul 2019)
    Rate Change
    Silver (1 gram) ₹ 44 ₹ 44 ₹ 0 ↑
    Bar Silver (1 Kg) ₹ 44,000 ₹ 44,000 ₹ 0 ↑
    Silver Price In Himachal Pradesh for Last 10 Days
    Date Silver (1 gram) Bar Silver (1 Kg)
    21 Jul 2019 ₹ 44 ₹ 44,000
    20 Jul 2019 ₹ 44 ₹ 44,000
    19 Jul 2019 ₹ 44.5 ₹ 44,500
    18 Jul 2019 ₹ 42.3 ₹ 42,300
    17 Jul 2019 ₹ 42.4 ₹ 42,400
    16 Jul 2019 ₹ 41.5 ₹ 41,500
    15 Jul 2019 ₹ 41.2 ₹ 41,200
    14 Jul 2019 ₹ 41.3 ₹ 41,300
    13 Jul 2019 ₹ 41.3 ₹ 41,300
    12 Jul 2019 ₹ 41 ₹ 41,000

    Weekly & Monthly Graph of Silver Rate in Himachal Pradesh

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    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Silver Rate in Himachal Pradesh

    Himachal Pradesh might evoke the image of a calm, green place surrounded by mountains, but it is one of the fastest growing economies in the country, apart from being home to some of the richest farmers in India. Like other states in the country, silver was used extensively in Himachal Pradesh during the reign of kings, forming a deep association with the people here. While Himachal might not account for a large portion of silver consumed in the country, it still has a sizeable population which uses silver. Silver rates in the state are closely related to international rates, with prices changing on a regular basis.

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

    Parameters  Silver Price (per kg) 
    June 1 Rate  Rs.39,400 per kg 
    June 30 Rate  Rs.40,800 per kg 
    Highest Rate in June  Rs.41,500 per kg on 21 June 
    Lowest Rate in June  Rs.39,400 per kg from 1 - 2 June 
    Overall Monthly Performance  Incline 
    Percentage Change  3.55% 
    • Silver prices in Himachal Pradesh when the month began stood at Rs.39,400 per kg, unchanged since the end of May primarily due to the stagnant local and industrial demand for the white metal in the market. 1 – 2 June was also the time when silver prices were at its monthly lowest.
    • With the US Federal Reserve in talks to slash the interest rates, there were speculation of a negative impact on the global economy and traders turned to bullion. This led to a depreciation of the US dollar against other currencies, which prompted silver prices to surge to Rs.40,100 per kg on 14 June.
    • The US Federal Reserve then announced that it was looking to cut interest rates, prompting the white metal to touch a monthly high of Rs.41,500 per kg recorded on 21 June.
    • By the end of the month, the silver price trend in Himachal Pradesh was up by 3.55% largely due to the speculation of a negative impact on the global economy speculated by the possible rate cut by the US Federal Reserve.

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

    Parameters  Silver Price (per kg) 
    May 1 Rate  Rs.40,500 per kg 
    May 31 Rate  Rs.39,400 per kg 
    Highest Rate in May  Rs.40,500 per kg on 1 and 2 May 
    Lowest Rate in May  Rs.39,200 per kg from 20-22 May 
    Overall Monthly Performance  Decline 
    Percentage Change  -2.71% 
    • At the start of the month, silver rate in Himachal Pradesh stood relatively stable at Rs.40,500 per kg. However, fluctuating overseas interest clubbed with weak local demand caused the white metal to fall sharply to Rs.40,000 per kg on 13 May.
    • As the US dollar stabilised, the local retail offtake declined causing local vendors to cut orders short as import costs rose dramatically. On 18 May, the price of the metal dipped to Rs.39,500 per kg.
    • Weak overseas demand prevailed while equity markets stayed volatile. Furthermore, the trade war between the U.S. and China, caused the price of silver in the city to decline further. On 22 May, it traded at Rs.39,200 per kg.
    • Even though the white metal saw a marginal increase in its price towards the end of the month, the month saw a percentage decline of 2.71. The month ended with silver trading at Rs.39,400 per kg.

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

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

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

    Parameters Silver Price (per kg)
    March 1 Rate Rs.42,700 per kg
    March 31 Rate Rs.40,600 per kg
    Highest Rate in March Rs.42,700 per kg on 1 March
    Lowest Rate in March Rs.40,200 per kg on 29 March
    Overall Monthly Performance Decline
    Percentage Change -4.91%
    • The silver rate in Himachal Pradesh experienced a decline in value from the previous month. The month began with the metal trading at Rs.42,700 per kg. As the value of bullion dipped, equities dropped too, but the dollar rose.
    • This was the highest that it traded at for the month of March.
    • The price of silver further declined due to unfavorable economic trends. One of the major influencers of the declining trend of the metal was the European Central Bank (ECB). Postponing their verdict to increase rates of interest caused the metal to plateau in its growth. On the 7th, silver traded at Rs.41,000 per kg.
    • On the 29th, the price of silver was recorded to be at its lowest for the month. It traded at Rs.40,200 per kg, and unusually, equities dropped in value at the same time.
    • Silver experienced a declining trend for the month of March and the percentage decline was recorded at 4.91. The month ended with silver trading at Rs.40,600 per kg.

    Trend of Silver Rate in Himachal Pradesh For February 2019 (rates per kg)

    Parameters Silver Price (per kg)
    February 1 Rate Rs.43,900 per kg
    February 28 Rate Rs.43,300 per kg
    Highest Rate in February Rs.44,100 per kg on 5 February
    Lowest Rate in February Rs.42,700 per kg on 14 February
    Overall Monthly Performance Decline
    Percentage Change -1.36%
    • Silver opened at Rs.43,900 per kg on 1 February in Himachal Pradesh amidst steady industrial demand and conflicting trends overseas.
    • As the equity market was volatile and investors turned towards safe-haven assets, the demand for the metal picked up and silver prices surged and recorded the highest rate for the month of Rs.44,100 per kg on 5 February.
    • As the retail demand for the metal fluctuated and the industrial demand fell, silver rates fell to Rs.43,100 per kg on 12 February and further fell to a monthly low of Rs.42,700 per kg on 14 February.
    • Though silver rates managed to recover, it fell during the end of the month as the ongoing Sino-U.S. trade talks and upcoming Fed report reduced investor interest in safe-haven assets. Silver closed at Rs.43,300 per kg on 28 February after recording a 1.36% drop in value.

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

    Parameters Silver Price (per kg)
    January 1 Rate Rs.41,500 per kg
    January 31 Rate Rs.43,900 per kg
    Highest Rate in January Rs.43,900 per kg on 30 and 31 January
    Lowest Rate in January Rs.41,400 per kg on 2 January
    Overall Monthly Performance Incline
    Percentage Change 5.78%
    • With a turbulent dollar rate trend and steady local demand increased, the silver price in Himachal Pradesh opened strong at Rs.41,500 per kg on 1 January.
    • The US government shutdown stirred up volatility in the equity market causing investors to invest in safe haven assets. This boosted the local silver offtake, thereby increasing the value of the metal to Rs.42,700 per kg as on 12 January.
    • Local demand for the metal in the coming weeks were unstable causing the price of silver in the state to dip substantially to Rs.41,800 per kg on 22 January. However, good retail sales compensated for the loss in value.
    • Post fed reserve, the dollar unexpectedly dipped in value while local and industrial demand for the metal rose. At the end of the month, the price of silver surged to Rs.43,900 per kg.  

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

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

    Silver Rate Trend in Himachal Pradesh for December 2018:

    • Through the month of December, the price of silver in Himachal Pradesh increased by 7.79%. Most of this surge was witnessed in the final week, although, the price did improve steadily at the beginning of the month. On December 1, the silver rate was Rs.38,500 per kg.
    • By December 12, the price had risen to Rs.40,700 per kg, marking an increase of Rs.2,200 per kg in a 12-day period. This sharp spike was a result of various factors, most notably bearish stocks and an increase in local demand from coin makers and jewellers.
    • The second half of the month started with a slight reversal in this bullish trend. The price dipped to Rs.39,800 per kg on December 19 as the greenback strengthened, along with equities.
    • Once again, over the closing days of December, global growth concerns and a weak dollar prompted investors to reconsider their precious metals holdings. As they rallied towards safe-haven metals, the price of silver in Himachal Pradesh surged to end trading on December 31 at Rs.41,500 per kg.

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

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

    Silver Rate Trend in Himachal Pradesh for November 2018:

    • The price of silver steadily decreased throughout the month due to various factors such as low demand on a global scale and the value of the falling rupee against the dollar.
    • On 1 November 2018, the price of the metal was Rs.40,900 per kg and increased to Rs.41,500 per kg in the first week, as the demand increased in Diwali and Dhanteras.
    • However, silver prices decreased in the state due to global factors of Brexit negotiations and a possible increase in rates of interest.
    • On 30 November 2018, the price of the metal was Rs.38,800 per kg marking a percentage decrease in price by 5.13.

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

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

    October 2018 - Week 1 (1-7):

    • Silver began the week trading at Rs.41,100 per kg with weak demand for the industrial metal amid poor overseas market trends. This was also the lowest silver prices recorded in the state.
    • Silver prices in Himachal Pradesh surged to Rs.42,000 per kg on 3 October with the US dollar depreciating against other apex currencies ahead of the US Federal Reserve meeting.
    • Demand for the white metal stabilised as the week progressed and silver was recorded trading at Rs.41,900 per kg on the last day of the week.

    October 2018 - Week 2 (8-14):

    • Silver rates in Himachal Pradesh opened the week trading at Rs.41,500 per kg after the dollar gained over other currencies and bullish equity markets prompted the decline in silver rates by Rs.400 per kg.
    • Weak overseas cues coupled with subdued domestic demand from industries and coin makers led to silver prices dropping to Rs.41,200 per kg on 9 October.
    • However, with increased demand from industrial units amid fluctuating markets, rates of the white metal rose to Rs.41,500 per kg when the week ended.

    October 2018 - Week 3 (15-21):

    • When the week began, silver was recorded trading at Rs.41,900 per kg, inclining by Rs.400 per kg over the previous day with strong demand amid stable overseas market cues triggered by the losing dollar and equities.
    • Prices of the white metal declined to Rs.41,400 per kg on 17 October. Demand for the industrial metal rose as the week progressed with silver trading at Rs.41,700 per kg on 18 October.
    • With subdued but stable demand from the domestic industries and coin makers, silver declined to trade at Rs.41,500 per kg on the last two days of the period.

    October 2018 - Week 4 (22-28):

    • Silver traded at Rs.41,500 per kg when the week began on 22 October with domestic markets increasing their purchases in the back of positive overseas cues.
    • With the US dollar losing value over other apex currencies, demand for silver inclined and the white metal was recorded trading at Rs.41,900 per kg on 24 October.
    • Trading concluded for the week with silver priced at Rs.41,700 on 28 October with subdued but stable demand from local industries and coin makers.

    October 2018 - Week 5 (29-31):

    • The final week saw the silver priced at Rs.41,600 per kg on 29 October with demand from the local market suppressed by the strong dollar and rising equities.
    • Silver prices on the last of the month stood at Rs.41,200 per kg with the demand for the industrial metal declining amid unfavourable overseas trend.
    • The month witnessed an incline of 0.24% on silver prices in Himachal Pradesh attributed to a strong overseas market trend coupled with steady demand from the domestic market.

    Trend of Silver Rate in Himachal Pradesh for September 2018 (rates per gram)

    Parameters Silver price (per kg)
    September 1 Rate Rs.40,000 per kg
    September 30 Rate Rs.41,200 per kg
    Highest Rate in September Rs.41,200 per kg on 29 and 30 September
    Lowest Rate in September Rs.39,500 per kg on 5, 7, 15-16 September
    Overall Monthly Performance Incline
    Percentage Change 3%

    September 2018- Week 1 (1-8)

    • At the start of week 1 of September, silver began trading at Rs.40,000 per kg.
    • The price of silver in Himachal Pradesh then rose by Rs.100 per kg on the second day of the month, but rapidly declined back to Rs.40,000 per kg on 3 September. From 5 - 7 September, the price of silver dipped further to Rs.39,500 per kg, the lowest the metal was priced at for the month.
    • Week 1 ended with silver closing at Rs.39,700 per kg as the ongoing trade war negatively affected the stock market and investors preferred safe-haven assets.

    September 2018- Week 2 (9-15)

    • Steady local and industrial demand helped the price of silver remain unaffected at Rs.39,700 per kg at the start of week 2.
    • The demand for silver picked up from 11 - 13 September causing the metal to increase in value to.39,900 per kg. However, the price of silver in Himachal Pradesh plummeted to Rs.39,800 per kg on 14.
    • On 15 September, the dollar fluctuated in value causing a decline in silver rates. The week ended with silver closing at Rs.39,500 per kg.

    September 2018- Week 3 (16-22)

    • Week 3 commenced with silver opening at Rs.39,500 per kg. However, the price of silver in Himachal Pradesh inclined in the following days as the dollar weakened due to ongoing trade war tension.
    • The price of the metal rose further and traded at Rs.39,700 per kg, Rs.39,800 per kg, and Rs.40,000 per kg on 17, 18, and 19 September respectively.
    • Silver continued to increase in value, and on 20 - 22 September, it traded at Rs.40,100 per kg. The week ended with silver closing at Rs.40,300 per kg while global trade war caused tension.

    September 2018- Week 4 (23-30)

    • Week 1 began with the silver price in Himachal Pradesh being recorded at Rs.40,300 per kg. However, due to weak local and industrial demand, the price of the metal dipped to Rs.40,000 per kg the next day.
    • The price of the metal remained at Rs.40,000 per kg on 24 September, but it quickly recovered and began trading at Rs.40,200 per kg on 25, and further rose to Rs.40,800 per kg the next day
    • On 29 and 30 September, silver prices in Himachal Pradesh hit a monthly high of Rs.41,200 per kg and recorded an overall incline of 3% for the month.

    Trend of Silver Rate in Himachal Pradesh for August 2018 (rates per kg)

    Parameters Silver price (per kg)
    August 1 Rate Rs.41,400 per kg
    August 31 Rate Rs.40,300 per kg
    Highest Rate in August Rs.41,400 per kg on 1 and 9 August
    Lowest Rate in August Rs.39,800 per kg from 24 August
    Overall Monthly Performance Decline
    Percentage Change -2.65%

    August 2018 - Week 1 (1 - 05):

    • Silver began trading at Rs.41,400 per kg at the start of the first week of August. This was the highest price of silver for the month.
    • Silver then rose by Rs.200 per kg on 4 August, on account of high domestic demand for the metal from industries and jewellers. Silver inclined to Rs.41,300.
    • The first week of August ended with silver trading at Rs.41,300 per kg. The high demand for the metal did not have an effect on the price.

    August 2018 - Week 2 (6 - 12):

    • Week 2 began with the metal being priced at Rs.41,300 per kg in Himachal Pradesh.
    • The price declined to Rs.41,400 per kg on 9 August that may have been caused due to the decline in the value of the dollar. Silver price on this day was at its peak for the month of August 2018.
    • Week 2 ended with the price of silver declining to Rs.41,200 per kg.

    August 2018 - Week 3 (13 - 19):

    • On 13 August, silver in Himachal Pradesh was priced the same as it did at the end of week 2.
    • On 16 August, the price of silver dipped to Rs.39,900 per kg. This was influenced by the US economy recording a positive trend post the release of their employment data.
    • Week 3 ended with silver trading at Rs.40,000 per kg, an increment of Rs.100.

    August 2018 - Week 4 (20 - 26):

    • Silver price in Himachal Pradesh stood stagnant from the end of week 2 as it still remained at Rs.40,000 per kg on 20 August.
    • The dollar, in comparison to other currencies increased in value on 23 August as silver dipped in value. The state experienced a decline in the price of silver as it stood at Rs.39,900.
    • Week 4 ended with silver being priced at Rs.40,200 per kg.

    August 2018 - Week 5 (27 - 31):

    • The fifth week started off with silver being priced the same as it did at the end of week 4.
    • Demand for the metal then increased during the course of week 5, causing the price of the metal in Himachal Pradesh to increase as well.
    • The state recorded a declining trend of -2.65% with regard to the silver price. At the end of the month, the metal traded at Rs.40,300 per kg.

    Trend of Silver Rate in Himachal Pradesh for July 2018 (rates per kg)

    Parameters Silver price (per kg)
    July 1 Rate Rs.42,800 per kg
    July 31 Rate Rs.41,400 per kg
    Highest Rate in July Rs.42,900 per kg on 9 and 10 July
    Lowest Rate in July Rs.41,200 per kg on 28 and 29 July
    Overall Monthly Performance Decline
    Percentage Change -3.27%

    July 2018- Week 1 (1-10)

    • In Himachal Pradesh, silver was traded at Rs.42,800 per kg on 1 July 2018.
    • On 3 July 2018, silver rates fell by Rs.400 per kg and traded at Rs.42,400 per kg. Poor demand from coin makers and industrial units in the Himachal Pradesh affected the silver rates negatively.
    • However, in the following days, silver prices picked up and traded at Rs.42,800 per kg. The rise in silver rates can be directly associated with the spike in demand for the metal from local jewellers.
    • On 9 and 10 July, the highest silver price of Rs.42,900 per kg was recorded for the month. Silver rates rose as demand picked up further.
    • The increase in silver rates during the last two days of the week can be attributed to positive market trends and the declining dollar rates over all other currencies.

    July 2018- Week 2 (11-17)

    • Silver prices fell by Rs.300 per kg on 11 July and traded at Rs.42,600 per kg.
    • Though the value of the dollar remained stable, silver prices continued to drop due to poor domestic demand.
    • As the demand for the metal fell further, silver prices fell. Silver traded at Rs.42,200 per kg from 12 - 14 July.
    • Silver traded at Rs.42,300 per kg on 16 July 2018, a marginal increase was noted, but the prices of the metal quickly dropped.
    • Silver rates were not significantly affected even though the value of the dollar fell in the last few days in this week.
    • Silver dropped further and stood at Rs.42,100 per kg on 17 July.

    July 2018- Week 3 (18 - 24)

    • On the first day of week 3, silver was priced at Rs.41,700 per kg.
    • A drop of Rs.400 per kg was noted on the first day of the week due to muted demand from local merchants.
    • The main factor that affected silver prices in Himachal Pradesh throughout the month was the demand for the metal. However, the value of the dollar played a key role in determining the silver price this week.
    • On 20 July 2018, the price of silver further dipped to Rs.41,300 per kg. However, this could be due to a rise in the dollar value.
    • Silver rates between 21 - 22 July stood at Rs.41,700 per kg. Though the prices slightly picked up on 21 and 22, the rates quickly fell to Rs.41,400 per kg on 24 July.

    July 2018- Week 4 (25 - 31)

    • On 25 July, an increase of Rs.100 per kg was recorded and silver opened at Rs.41,500 per kg.
    • On 26 July, the rate of silver increased by Rs.300 per kg and traded at Rs.41,800 per kg as the demand for the metal picked up.
    • The price of silver stood at Rs.41,200 per kg as on 28 - 29 July. This was also the lowest silver price recorded for the month.
    • By the end of the month, the price of silver increased as dollar rates dropped slightly. The metal stood at Rs.41,400 on 30 - 31 July.
    • Overall, silver prices in Himachal Pradesh fell by 3.27% in the month of July.

    Trend of Silver Rate in Himachal Pradesh for June 2018 (rates per kg)

    Parameters Silver price (per kg)
    June 1 Rate Rs.42,800 per kg
    June 30 Rate Rs.42,800 per kg
    Highest Rate in June Rs.45,000 per kg on 15 June
    Lowest Rate in June Rs.42,600 per kg from 2 to 5 June
    Overall Monthly Performance Steady
    Percentage Change 0.00%

    June 2018 - Week 1 (1 - 10):

    • Silver was priced at Rs.42,800 per kg when trading started in Himachal Pradesh for the month.
    • The US dollar seemed to be on a inclining path against other currencies. This caused silver rates to drop to Rs.42,600 per kg on the 2nd of June.
    • After the news about a weakened dollar hit the market, silver rates in Maharashtra went up to Rs.43,900 per kg on the 6th.
    • This rate then went down to Rs.43,800 per kg the next day as demand slowed down slightly ahead of a varying cues.
    • As the G7 summit failed to enable positive talks, markets fell and precious metal demand increased.
    • When the first week of June came to an end, silver was priced at Rs.43,700 per kg.

    June 2018 - Week 2 (11 - 17):

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

    June 2018 - Week 3 (18 - 24):

    • The US dollar strengthened after the fall seen during the previous week, causing silver rates to go down to Rs.43,400 per kg when this week started.
    • This was a Rs.900 decline from the previous day’s session. On the 19th, prices went up slightly to Rs.43,500 per kg before going down to Rs.43,100 per kg on the 20th.
    • Due to a poor trend overseas and a weakened local demand, silver prices went down to Rs.42,900 per kg on the 21st.
    • The 22nd saw silver continuing at Rs.42,900 per kg and continue at this rate for the remainder of the week.

    June 2018 - Week 4 (25 - 30):

    • The last week of June began with silver trading at Rs.43,200 per kg - a Rs.300 rise from the previous closing session.
    • Rates held steady on the 27th before dropping further to Rs.43,000 per kg as demand seemed to weaken as the US dollar continued on its upward trajectory.
    • On the 29th, the precious metal’s rates went down to Rs.42,800 per kg - a Rs.200 per kg decline from the previous session.
    • Silver was trading at Rs.42,800 per kg on the final day.

    Trend of Silver Rate in Himachal Pradesh for May 2018 (rates per kg of silver)

    Parameters Silver price (per kg)
    May 1 Rate Rs.42,000 per kg
    May 31 Rate Rs.43,100 per kg
    Highest Rate in May Rs.43,800 per kg on 25 May
    Lowest Rate in May Rs.42,000 per kg on 1 May
    Overall Monthly Performance Incline
    Percentage Change 2.61%

     

    May 2018 - Week 1 (1 - 6):

    • This month recorded a down turn in gold price trends due to a weak local demand despite a number of potential
    • When trading started for the month of May in Himachal Pradesh, gold was priced at Rs.3,227 per gram.
    • On the 2nd, gold prices in Himachal Pradesh dropped to Rs.3,203 per gram - a Rs.24 drop - as the US dollar strengthened significantly and bullion demand dropped as a result.
    • Prices in Himachal Pradesh dropped down again - to Rs.3,190 per gram - as the greenback improved in the midst of strong equity markets.
    • The final day of this week saw gold rates rise to Rs.3,213 per gram as demand from jewellers and retailers surged.

    May 2018 - Week 2 (7 - 13):

    • The second week of May opened in Himachal Pradesh with gold being priced at Rs.3,213 per gram which surged by Rs.15 to Rs.3,228 per gram the next day due to strong demand.
    • The rise the previous day could be attributed to the looming trade war concerns between the United States and China.
    • Gold rates went down to Rs.3,217 per gram on the 9th due to a resurgent dollar before clawing back on the 10th to trade at Rs.3,221 per gram.
    • When the week ended, the yellow metal was priced at Rs.3,221 per gram.

    May 2018 - Week 3 (14 - 20):

    • The precious metal was traded at Rs.3,242 per gram - the month’s highest rates- as a turbulent dollar caused gold rates to rise.
    • On the 15th, prices dropped slightly and the metal traded at Rs.3,239 per gram before dropping further to Rs.3,227 per gram as demand plummeted.
    • Gold rates were continually on the decline this month as demand was on the lower side ahead of a steadily rising dollar.
    • The week ended with the yellow metal trading at Rs.3,200 per gram.

    May 2018 - Week 4 (21 - 27):

    • The penultimate week of May started with a slight improvement in gold prices. Due to overnight trading cues, gold rates went up to Rs.3,208 per gram on the 21st.
    • As the dollar incline against various other world currencies, gold demand took a hit. This led to gold trading at Rs.3,191 per gram on the 22nd and the 23rd of May.
    • Rates seemed to increase over the next few days as the US dollar began to weaken due to concerns with the administration.
    • On the 24th, the metal traded at Rs.3,201 per gram which rose to Rs.3,211 per gram on the 25th and then to Rs.3,211 per gram the next day.
    • Over the final two days of this week, the yellow metal traded at Rs.3,216 per gram - a slight dip as the dollar recovered and gold rates dropped.

    May 2018 -Week 5 (28 - 31):

    • The final week of May opened with gold trading at Rs.3,216 per gram. This dropped significantly on the 29th due to a sudden surge in the dollar.
    • The yellow metal traded at Rs.3,195 per gram on the day owing to the dollar. This, however, rose to Rs.3,206 per gram as demand for the precious metal increased.
    • Gold rates in Himachal Pradesh declined by 0.65% this month, owing to poor cues from the local market.

    Trend of Silver Rate in Himachal Pradesh for April 2018 (rates per kg)

    Parameters Silver price (per kg)
    April 1 Rate Rs.41,400 per kg
    April 30 Rate Rs.42,300 per kg
    Highest Rate in April Rs.43,800 per kg on 20 and 22 April
    Lowest Rate in April Rs.41,000 per kg on 5 April
    Overall Monthly Performance Incline
    Percentage Change 2.17%

    April 2018- Week 1 (1-7)

    • Demand for silver in Himachal Pradesh reflected trends seen in other cities, with the industrial metal priced at Rs.41,400 per kg on 1 April.
    • Strong local demand kept prices from fluctuating too much, in spite of turbulence in the international market.
    • Equity markets fell on fears of a trade war between the U.S. and China, as silver prices rose to Rs.41,600 per kg on 3 April.
    • Prices began to dip for the rest of the week as local industrial demand was muted due to a recovering U.S. Dollar.
    • Silver traded at Rs.41,000 per kg on 5 April as demand vagaries led to a marginal drop in interest in bullion.
    • Prices rose to Rs.41,200 per kg as the week ended on 7 April, though local demand was static.

    April 2018- Week 2 (8-15)

    • There was a rise in demand for silver in the second week as geopolitical tensions in the Korean peninsula as well as escalating trade tensions with China led to U.S. markets being volatile.
    • The industrial metal traded at Rs.41,200 per kg on 8 April before prices jumped to Rs.41,700 per kg on 11 April on rising interest from investors.
    • The news of a chemical attack on Syrian civilians by the government led to widespread panic across stock markets, which led to higher demand for safe-haven assets like bullion.
    • Silver prices consequently rose to Rs.42,000 per kg on 13 April as coin makers also increased orders.
    • Prices fell marginally as the week ended, with silver priced at Rs.41,900 per kg on 15 April.

    April 2018- Week 3 (16-22)

    • Silver prices rose to Rs.42,100 per kg on 16 April as demand for the industrial metal rose on increased orders by local industry.
    • The retaliatory attack by a U.S.-led coalition on Syria once again led to market turmoil, as global stock markets fell and the dollar fell against other global currencies.
    • Interest in silver continued to rise as the metal traded at Rs.42,500 on 18 April on strong interest from industry as well as investors.
    • Prices rose to a monthly high of Rs.43,800 per kg on 20 April as the dollar plunged on unfavourable market trends and falling investor confidence.
    • Silver maintained its price as the week ended on 22 April as strong local and overseas trends kept prices steady.

    April 2018- Week 4(23-30)

    • The last week of April saw demand for silver fall due to declining interest from industrial units and a rising dollar rate.
    • Silver was priced at Rs.43,700 per kg on 23 April but prices fell steeply as coin makers reduced orders following a strengthening of the dollar.
    • Prices dropped to Rs.43,000 per kg on 26 April as investors put off silver futures trading ahead of the Fed Reserve meeting.
    • Local demand was influenced by international trends, as industry reduced demand and silver prices fell to Rs.42,800 per kg on 27 April.
    • The month ended with silver prices falling to Rs.42,300 per kg as demand fell on unfavourable cues.

    Trend of Silver Rate in Himachal Pradesh for March 2018 (rates per kg)

    Parameters Silver price (per kg)
    March 1 Rate Rs.41,100 per kg
    March 31 Rate Rs.41,400 per kg
    Highest Rate in March Rs.41,900 per kg on 7 March
    Lowest Rate in March Rs.41,000 per kg on 19 and 21 March
    Overall Monthly Performance Incline
    Percentage Change 0.72%

    March 2018 – Week 1 (1 – 4):

    • Silver opened the month in Himachal Pradesh trading at Rs.41,100 per kg on the 1st.
    • Demand for the metal surged in the bullion market due to uneven performances by the equity markets as the week progressed.
    • On the 2nd, prices rose to Rs.41,400 per kg after an incline in industrial offtake was recorded following a bearish run by the US dollar.
    • The 3rd saw silver prices rising further to Rs.41,600 per kg with domestic stock markets tumbling amid the weakened US dollar.
    • Silver rate in Pradesh remained untouched at Rs.41,600 per kg for the rest of the week with the bullion market tracking a firm trend overseas.

    March 2018 – Week 2 (5 – 11):

    • The week opened with the white metal prices holding steady at Rs.41,600 per kg on the 5th with consistent demand for the metal.
    • However, a decline in industrial demand at the global level led to silver price in Himachal Pradesh dropping to Rs.41,400 per kg on the 6th.
    • The 7th witnessed silver rate in Himachal Pradesh rebounding to Rs.41,900 per kg after demand from investors and traders inclined with the US dollar index losing against other apex currencies.
    • With the US dollar regaining lost ground amid well-performing equities, demand for the metal subsided. This led to silver being priced at Rs.41,500 per kg on the 8th which plunged further to Rs.41,300 per kg on the 9th amid the poor overseas trends.
    • Demand, however, picked up as the week progressed after the US dollar tumbled amid market uncertainties and silver was recorded trading at Rs.41,600 per kg on the 11th when the week came to an end.

    March 2018 – Week 3 (12 – 18):

    • Silver trade in Himachal Pradesh saw prices dropping significantly due to a bullish performance by the US dollar during the week.
    • Silver was priced at Rs.41,600 per kg on the 12th, when the week began with firm trends from the previous week.
    • With the stronger than expected US jobs and payrolls’ data indicating a rise in the number of jobs contributing to the US economy, the greenback surged. This led to silver rate in Himachal Pradesh dropping to Rs.41,400 per kg on the 13th.
    • Though prices rebounded to Rs.41,700 per kg on the 14th as the dollar tumbled after the sudden dismissal of the US Secretary of State, speculations over a possible Fed rate hike during the next week led to dollar rebounding and silver was recorded trading at Rs.41,500 per kg on the 15th.
    • Poor trends overseas compounded with reduced domestic demand from local industrial units and coin makers resulted in prices plummeting to Rs.41,300 per kg and 41,100 per kg on the 16th and the 17th respectively.
    • The week concluded with the industrial metal trading at Rs.41,100 per kg on the 18th as demand remained low with international markets expecting a rise in the US interest rates during the central bank’s monetary policy meeting next week.

    March 2018 – Week 4 (19 – 25):

    • Trading opened for the week with the white metal priced relatively lower at Rs.41,000 per gram on the 19th following a slight decline in demand from the previous week.
    • Thanks to an increase in demand from local coin manufacturers and industrial units, prices surged to Rs.41,200 per kg on the 20th.
    • Though rates plunged to Rs.41,000 per gram the next day, silver price in Himachal Pradesh soon rebounded with investors and traders banking on the metal to hedge against the uneven equities and the metal was recorded trading at Rs.41,500 per kg on the 22nd.
    • With markets cautious ahead of the US Federal Bank monetary policy announcement on future Fed rate hikes, demand for the white metal remained strong over the next few days. Silver was priced at Rs.41,600 per kg on the 23rd amid the firm overseas trends.
    • The week came to an end with prices remaining untouched at Rs.41,600 per kg on the 25th with the bullion market following strong trends overseas.

    March 2018 – Week 5 (26 – 31):

    • The last week commenced with silver price in Himachal Pradesh holding at Rs.41,600 per kg on the 26th with steady demand amid firm global cues.
    • With tensions rising between the US and Russia, investors gravitated towards assets considered safer such as gold and silver. This led to silver rate in Himachal Pradesh surging to Rs.41,800 per kg on the 27th.
    • The dollar made gains towards the end of the month as equities also recovered, resulting in the metal trading at Rs.41,400 per kg on 29th.
    • The end of the month saw no change in price as silver traded at Rs.41,400 per kg on the last day.

    Details of Silver Price in Himachal Pradesh (1 Kg) - Till December 2015

    Individuals who wish to purchase silver in Himachal Pradesh can do so by weight. Silver can be purchased in quantities ranging from a gram to a few kilograms, depending on individual requirement. The current cost of 1 kg silver in the state is Rs 35,956 (as of December 21, 2015). The cost of silver for most of the year has been below the Rs 40,000 per kg mark, making it pocket friendly and cost effective. Prices peaked in May, going over the Rs 42,000 mark per kg, and dropped to their lowest in March and December, touching lows of Rs 35,200 and Rs 34,500 per kg respectively.

    Silver as an investment

    Silver has been around for centuries, and continues to be popular even today, highlighting its importance in a world starved for precious metals. Silver provides a safe and affordable option to millions who cannot purchase other, more expensive metals. The demand for silver in multiple industries has ensured that one can get good returns, without high risk. The ability to melt and mould silver into desired shapes gives it more ornamental value, while retaining its integrity. Young investors can look towards silver to add to their investment portfolio without having to empty their pockets. Physical silver and silver contracts are two of the most popular means of investing in silver in Himachal Pradesh today.

    Physical silver – Silver jewellery, coins and bars have been used exhaustively in Himachal Pradesh, with an option available for every budget. Silver jewellery is integral to the culture of the state, with it being a mainstay when it comes to accessories. Intricate designs make jewellery from the state unique, with a growing demand witnessed in different parts of the globe. Silver jewellery is traditionally purchased during festivals and celebrations, passing down from generation to generation, making it an important family heirloom. Silver bars and coins are used predominantly for investments, thanks to the liquidity they provide and their purity. These coins can be purchased from both banks and jewellers, with the ones purchased from banks costing more on account of purity checks and quality assurance.

    Silver contracts – Silver contracts and futures are still in their infancy in the state, primarily due to lack of awareness about the same. Individuals who wish to participate in such trade can do so through the National Commodities and Derivatives Exchange, the National Multi Commodity Exchange and the Multi Commodity Exchange. This is ideal for individuals who are well versed with how markets function and can help your investment grow, but are also subject to market risks.

    Read more on Silver

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