• Silver Rate in Himachal

    Daily Silver Rates
    Date Silver (1 gram) Bar Silver (1 Kg)
    11 Dec 2018 ₹ 40.7 ₹ 40,700
    10 Dec 2018 ₹ 40.3 ₹ 40,300
    09 Dec 2018 ₹ 40.3 ₹ 40,300
    08 Dec 2018 ₹ 40.3 ₹ 40,300
    07 Dec 2018 ₹ 39.6 ₹ 39,600
    06 Dec 2018 ₹ 39.5 ₹ 39,500
    05 Dec 2018 ₹ 39.6 ₹ 39,600
    04 Dec 2018 ₹ 39.6 ₹ 39,600
    03 Dec 2018 ₹ 39 ₹ 39,000
    02 Dec 2018 ₹ 38.5 ₹ 38,500

    *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 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%

    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.

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