Silver Rate in Himachal Pradesh

  • Today's Silver Rate In Himachal Pradesh ( 25 Jan 2021 )

    ₹ 71.5
    Today's Silver Rate per gram

    Compare Silver Rate In Himachal Pradesh (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Silver (1 gram) ₹ 71.5 ₹ 72.5 ₹ -1 ↓
    Bar Silver (1 Kg) ₹ 71,500 ₹ 72,500 ₹ -1,000 ↓

    Silver Price In Himachal Pradesh for Last 10 Days

    Date Silver (1 gram) Bar Silver (1 Kg)
    22 Jan 2021 ₹ 71.5 ₹ 71,500
    21 Jan 2021 ₹ 72.5 ₹ 72,500
    20 Jan 2021 ₹ 71.2 ₹ 71,200
    19 Jan 2021 ₹ 70.6 ₹ 70,600
    18 Jan 2021 ₹ 69.7 ₹ 69,700
    17 Jan 2021 ₹ 69.7 ₹ 69,700
    16 Jan 2021 ₹ 69.7 ₹ 69,700
    15 Jan 2021 ₹ 70.6 ₹ 70,600
    14 Jan 2021 ₹ 70.3 ₹ 70,300
    13 Jan 2021 ₹ 70.7 ₹ 70,700

    Weekly & Monthly Graph of Silver Rate in Himachal Pradesh

    • 7 Days
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    • 3 Months
    • 6 Months

    *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 December 2020 (rates per kg)

    Parameters Silver Price (per kg)
    December 1 Rate Rs.64,600 per kg
    December 31 Rate Rs.72,300 per kg
    Highest Rate in December Rs.74,100 per kg on 21 December
    Lowest Rate in December Rs.63,400 per kg on 10 December
    Overall Monthly Performance Incline
    Percentage Change 11.91%

    Trend of Silver Rate in Himachal Pradesh for November 2020 (rates per kg)

    Parameters Silver Price (per kg)
    November 1 Rate Rs.60,100 per kg
    November 30 Rate Rs.64,700 per kg
    Highest Rate in November Rs.67,700 per kg on 18 November
    Lowest Rate in November Rs.60,100 per kg on 1 November
    Overall Monthly Performance Incline
    Percentage Change 7.65%

    Trend of Silver Rate in Himachal Pradesh for October 2020 (rates per kg)

    Parameters Silver Price (per kg)
    October 1 Rate Rs.60,700 per kg
    October 31 Rate Rs.61,000 per kg
    Highest Rate in October Rs.63,500 per kg on 21 October
    Lowest Rate in October Rs.60,210 per kg on 8 October
    Overall Monthly Performance Incline
    Percentage Change 0.49%

    Trend of Silver Rate in Himachal Pradesh for September 2020 (rates per kg)

    Parameters Silver Price (per kg)
    September 1 Rate Rs.76,500 per kg
    September 30 Rate Rs.62,500 per kg
    Highest Rate in September Rs.76,500 per kg on 1 September
    Lowest Rate in September Rs.58,500 per kg on 24 September
    Overall Monthly Performance Decline
    Percentage Change -18.30%

    Trend of Silver Rate in Himachal Pradesh for August 2020 (rates per kg)

    Parameters Silver Price (per kg)
    August 1 Rate Rs.65,010 per kg
    August 31 Rate Rs.66,370 per kg
    Highest Rate in August Rs.76,520 per kg on 8 August
    Lowest Rate in August Rs.65,010 per kg on 1 and 13 August
    Overall Monthly Performance Incline
    Percentage Change 2.09%

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

    Parameters Silver Price (per kg)
    July 1 Rate Rs.48,560 per kg
    July 31 Rate Rs.63,010 per kg
    Highest Rate in July Rs.66,060 per kg on 30 July
    Lowest Rate in July Rs.48,510 per kg on 5 July
    Overall Monthly Performance Incline
    Percentage Change 29.75%

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

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

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

    Parameters Silver Price (per kg)
    Rate on May 1 Rs.42,530 per kg
    Rate on May 31 Rs.50,100 per kg
    Highest Rate in May Rs.51,400 per kg on 25 May
    Lowest Rate in May Rs.41,010 per kg on 2 May
    Overall Monthly Performance Incline
    Percentage Change 17.79%
    • In Himachal Pradesh, the price of silver opened at the rate of Rs.42,530 per kg for the month of May 2020. By 3 May, the rates of the precious white metal had dropped to Rs.41,210 per kg. The metal witnessed the fall in its price as the U.S. Dollar had firmed. However, the prices had been trading above the previous session's low as the risk sentiment saw a decrease after the increasing tensions between Washington and Beijing over the recent wide-spread Coronavirus pandemic. Silver prices had risen after a drop during the previous trading rally as a weak and grim U.S. economic data had underscored the impact of the virus. The week came to an end with the price of silver standing at the rate of Rs.43,510 per kg.
    • The second week of the month started with the metal standing at Rs.43,610 per kg. In the following days, the rates had witnessed a decrease as the U.S. Dollar had gained from safe-haven buying which was driven by the wide-spread fears over another wave of the COVID-19 virus hitting the economy. On 15 May, the price of silver had risen to the rate of Rs.43,160 per kg. Silver prices had risen to be below the three-week high that it achieved during the previous session, and this was underpinned by talks about another U.S. stimulus package. This was also driven by increasing tensions between USA and China. The price of the metal had increased to Rs.46,900 per kg on 16 May, the last day of the second week. This increase in price was led by the increasing trade tensions between the USA and China. This had in turn added to the fears over a weak global economy which was just recovering from the impact of the Coronavirus.
    • The third week opened in Himachal Pradesh with the metal being priced at a lower rate of Rs.46,710 per kg. The price decrease was affected by a surge in the stocks and oil over the optimism of a potential vaccine for the Coronavirus. The prices kept fluctuating over the next few days and then hit Rs.48,200 per kg on 21 May. The rates of silver continued to increase. On 23 May, the week ended with the metal being sold at Rs.48,350 per kg. This increase in silver rates was due to the fears over a long global economic weakness and this pushed aside a premature enthusiasm over a possible vaccine for the Coronavirus. This had led investors to seek refuge in this safe-haven metal for their investments.
    • On 24 May, silver was trading at the rate of Rs.48,360 per kg. The price of the metal had then hit its highest price for the month on 25 May 2020 at Rs.51,400 per kg. The rates had surged higher due to the increasing concerns over the relation between USA and China and this had an impact on the risk appetite of investors. The price had then decreased to Rs.48,000 per kg on 26 May. After increasing to Rs.48,700 per kg on 27 May, the rates of silver had fallen to Rs.47,910 per kg on 28 May. The week had closed with the price of the precious metal standing at the rate of Rs.48,560 per kg. The month had ended with the white metal standing at the rate of Rs.50,100 per kg. During this month, the metal saw an overall increase in its performance by 17.79%.

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

    Parameters Silver Price (per kg)
    March 1 Rate Rs.47,400 per kg
    March 31 Rate Rs.40,500 per kg
    Highest Rate in March Rs.50,700 per kg on 6 March
    Lowest Rate in March Rs.37,800 per kg on 19 March
    Overall Monthly Performance Decline
    Percentage Change -14.55%
    • For the month of March, the rate of silver stood at the rate of Rs.47,400 per kg in Himachal Pradesh. There was no change in the prices when compared to the closing price of the previous month. With a big rebound from the fall, the rates for the white metal jumped by Rs.1,100 per kg the next day.
    • The precious metal recorded its highest price for the month on 6 March 2020 when it stood at the rate of Rs.50,700 per kg. in the Himachal Pradesh. The traders across the globe anticipated a cut in the interest rates by the US Federal Reserve and that further pushed the prices higher for the white metal.
    • The rates dropped following that as investors embarked on a selling spree to hoard cash. The drop in the prices saw a kilogram of silver cost Rs.37,800 per kg on 19th March. The rise in the US dollar along with Coronavirus lingering over the global markets was said to be reason why investors sought to sell off their assets.
    • The US Federal Reserve announced some measures to absorb the impact of coronavirus on the economy. Owing to this, the silver prices increased over the next few days. However, with many countries going into lockdown to contain the spread of the virus, the rates remained stagnant for the last week and closed at Rs.40,500 per kg. The monthly performance of the metal witnessed a drop of –14.55%.

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

    Parameters Silver Price (per kg)
    February 1 Rate Rs.50,300 per kg
    February 29 Rate Rs.47,400 per kg
    Highest Rate in February Rs.52,900 per kg on 24 February
    Lowest Rate in February Rs.47,400 per kg on 29 February
    Overall Monthly Performance Decline
    Percentage Change -5.76%
    • The price of silver in Himachal Pradesh opened at Rs.50,300 per kg as investors turned away from investing in riskier assets due to the outbreak of Corona Virus in China which negatively impacted the global market movements.
    • The price of silver in Himachal Pradesh was recorded to be the highest on 24 February at Rs.52,900 per kg as investors turned to investing in safe havens such as silver after World Health Organisation declared Corona Virus as a global epidemic. The reports emerged that the disease had spread to six other countries including China which severely impacted the market movements and forced investors to stay away from investing in riskier assets.
    • The price of Silver dropped on 29 February at Rs.47,400 per kg as the outbreak of Corona Virus forced investors to liquidate their assets and stock on cash.
    • As Corona Virus continues to impact the global markets negatively, the overall trend of Silver declined by 5.76% in the month of February.

    Trend of Silver Rate in Himachal Pradesh for Januaryr 2020 (rates per kg) 

    Parameters Silver Price (per kg)
    January 1 Rate Rs.50,300 per kg
    January 31 Rate Rs.50,200 per kg
    Highest Rate in January Rs.52,600 per kg on 8 January
    Lowest Rate in January Rs.49,200 per kg on 30 January
    Overall Monthly Performance Decline
    Percentage Change -0.19%
    • Himachal Pradesh saw Silver opening at Rs.50,300 per kg for the month of January due to an increase in optimism regarding the trade deal between U.S. and China.
    • Silver saw a gradual increase in rates over the first week and touched the highest for the month on 8 January when the white metal was valued at Rs.52,600.
    • The rates of the white metal slipped by Rs.600 per kilogram when compared to the rates charged on the last day of December.
    • There were serious concerns over the demand of silver due to the outbreak of Corona Virus in China due to which the rates of the white metal began to fluctuate considerably since 10 January. Apart from that, dollar losing value, and tensions in the Middle East played a role in the see-sawing of silver rates
    • Silver closed the month at Rs.50,200 per kg after reducing to its lowest for the month the previous day. The overall performance of the white metal in Himachal Pradesh was -0.19%, trending downwards.

    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.

    Also Check Silver Price in Metro Cities

    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.

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