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Silver Price in Hyderabad
Silver has been a constant commodity in this historic city. Hyderabad is one of the major cities in the South, and boasts of a large and upwardly mobile middle-class population. The city has some of the best sites dating back to centuries and has been a preferred destination for a wide range of tourists and commercial interests alike. Silver rates in Hyderabad follow the trend of international prices, albeit with the addition of a few local dynamics which also affect silver rates in the city.
Silver is an intrinsic part of the culture of Hyderabad. The city boasts of a substantial reserve of silver, which is mainly held by private dealers. The city also has a robust precious metals market that offers a range of products and some of the best workmanship in the country.
Trend of Silver Rate in Hyderabad for December 2016 (rates per kg)
|December 1st Rate||Rs.40,450 per kg|
|December 31st Rate||Rs.39,035 per kg|
|Highest Rate in December||Rs.41,630 per kg on 8th December|
|Lowest Rate in December||Rs.38,700 per kg on 23rd December|
December '16 - Week 1 (1st to 4th)
- The price of silver in December was high as demand from the industrial sector rose.
- Silver traded at Rs.40,450 per kg on 1st December, with the price rising to Rs.40,795 per kg on 2nd December.
- Increased demand overseas led to prices rising to Rs.41,070 per kg on 3rd December, with the price staying constant as the week ended.
- Higher industrial demand and strong overseas demand were factors that led to a rise in price.
December '16 - Week 2 (5th to 11th)
- The second week saw silver prices fluctuate due to demand.
- Silver was priced at Rs.41,055 per kg on 5th December but the price fell to Rs.40,820 per kg the following day due to fluctuations in demand.
- A drop in the U.S. Dollar rate led to demand rising marginally, resulting in silver reaching Rs.41,630 per kg on 8th December.
- Due to low retail demand, prices fell as the week ended, with silver trading at Rs.41,345 per kg on 11th December.
December '16 - Week 3 (12th to 18th)
- Price fell in the third week due to decreasing demand from industry as well as low overseas demand.
- Silver traded at Rs.40,880 per kg on 12th December, with prices falling due to the U.S. Dollar strengthening.
- Domestic demand continued to be low due to scrutiny of bullion purchases, which dissuaded many consumers from purchasing silver in spite of it being the festive season.
- Silver ended the week trading at Rs.39,305 per kg on 18th December due to declining demand.
December '16 – Week 4 (19th to 25th)
- Demand from Asian markets reduced, which led to an overall decline in silver bookings, pushing prices down.
- Silver was priced at Rs.39,435 per kg, a marginal increase from the previous week, though prices fell for the rest of the week on poor demand.
- Currency markets were strong as investor sentiment was high, which led to lowered demand for safe haven assets like gold and silver.
- Silver traded at a monthly low of Rs.38,700 per kg on 23rd December before stabilising and ending the week at Rs.38.725 per kg on 25th December.
December '16 – Week 5 (26th to 31st)
- Prices failed to improve in the last week of December, though there was a marginal increase.
- Silver traded at Rs.38,460 per kg on 26th December as domestic retail demand showed signs of improving.
- The currency shortage began to improve, which led to an increase in purchases.
- Though international demand was muted, silver prices rose marginally, trading at Rs.39,630 per kg on 30th December.
- Prices fell as the month ended, resulting in silver being priced at Rs.39,035 per kg on 31st December, registering an overall decline in price.
|November 1st Rate||Rs.42,910 per kilogram|
|November 30th Rate||Rs.41,055 per kilogram|
|Highest Rate in November||Rs.44,960 per kilogram on 9th of November|
|Lowest Rate in November||Rs.40,190 per kilogram on the 25th of November|
November '16 - Week 1 (1st to 6th):
- At the beginning of the month on the 1st, silver traded at Rs.42,910 per kilogram.
- The next day on the 2nd, prices saw a significant increase as silver traded at Rs.44,385 per kilogram.
- The next two days on the 3rd and 4th too saw some fluctuations as silver traded at Rs.44,645 and 43,855 per kilogram respectively.
- Prices,however, stabilised during the last two days of the week as silver began to trade at Rs.44,180 per kilogram.
November '16 - Week 1 (7th to 13th):
- When the second week started on the 7th, silver prices fell slightly as the metal traded at Rs.43,685 per kilogram.
- On the 8th, prices increased slightly to hit Rs.43,855 per kilogram, a Rs.170 increase from the previous day.
- On the 9th prices hit Rs.44,960, the highest silver trading rate for the month and fell significantly at the end of the week to close at Rs.42,005 per kilogram.
November '16 - Week 3 (14th to 20th)
- The third week beginning on the 14th saw silver trade at Rs.41,760.
- However, as demonetization of Rs.500 and Rs.1,000 intensified, prices began to fall for the rest of the week.
- Courtesy of PM Modi’s assault on black money, silver prices ended at just Rs.40,735 per kilogram.
November '16 - Week 4 and 5 (21st to 30th)
- Silver traded at Rs.40,890 per kilogram on 21st November.
- Prices seemed to fluctuate this week as the nation faced a massive cash crunch.
- The lowest trading price of Rs.40,190 per kilogram was witnessed during the 25th of the month.
- Rates of silver increased towards the end of the week as demand picked up.
- Silver traded at Rs.41,055 per kilogram at the time of closing on 30th November.
- Overall, Hyderabad saw silver prices decline by about -4.32% for the month of November.
|October 1st Rate||Rs.45,900 per kg|
|October 31st Rate||Rs.43,035 per kg|
|Highest Rate in October||Rs.45,900 per kg on 1st and 2nd October|
|Lowest Rate in October||Rs.41,780 per kg on 15th and 16th October|
October ’16- Weeks 1 & 2 (1st-9th)
- Silver was priced at Rs.45,900 per kg on 1st October as demand was steady and markets were weak, prompting interest in silver.
- The price began to drop as demand reduced in the international market, with the domestic market seeing a drop in industrial demand.
- Prices fell sharply towards the end of the week as the markets stabilised, resulting in demand for silver dropping.
- Silver traded at Rs.41,800 per kg on 9th October to record a fall in price of Rs.4,100 per kg from the start of the week.
October ’16- Week 3 (10th- 16th)
- Prices recovered marginally due to an increase in demand from jewellers due to the ongoing festive season.
- Silver traded at Rs.42,600 per kg on 10th October and stayed steady in spite of markets stabilising and overall low demand internationally.
- The price fell as the week progressed as domestic markets also rose due to strong industrial data.
- Silver traded at Rs.41,780 per kg on 16th October, marking a decline in price of Rs.820 per kg from the beginning of the week.
October ’16- Week 4 (17th-23rd)
- Prices fluctuated due to markets being unstable, with silver trading at Rs.41,970 per kg on 17th October.
- Prices rose in the next few days before stabilising as demand stagnated.
- International demand was on par with domestic demand as the U.S. Dollar fell against other global currencies.
- Silver traded at Rs.42,130 per kg on 23rd October, with the price reflecting an increase of Rs.160 per kg from the start of the week.
October ’16- Week 5 (24th-31st)
- Silver prices made some gains during the week as a result of higher demand.
- Silver was priced at Rs.42,330 per kg on 24th October as demand from domestic and overseas markets saw an increase.
- The U.S. economic data revealed poorer than expected results, leading to markets falling and silver demand rising.
- Silver traded at Rs.43,035 per kg on 31st October after a late rally, an increase of Rs.705 per kg from the price at the start of the week.
|1st Day||Rs.45,225 per kilogram|
|Last Day||Rs.45,750 per kilogram|
|Highest Price||Rs.47,820 per kilogram on 7th September|
|Lowest Price||Rs.45,225 per kilogram on 1st September|
September '16 - Week 1 (1st to 4th)
- Silver rates picked up in the month of September.
- Silver traded Rs.45,225 per kilogram on 1st September, the lowest price for the entire month.
- As the expectations of an interest rate hike by the U.S. Federal Reserve settled down, demand for silver rose.
- By the end of the week, silver had risen by 3.39%, trading at Rs.46,760 per kilogram.
September '16 - Week 2 (5th to 11th)
- The second week of September started out strong but there were fluctuations through the week.
- On 5th September, silver traded at Rs.46,760 per kilogram.
- With high demand, prices rose to Rs.47,820 per kilogram on 7th September, the highest recorded price for the month.
- The market played off on hawkish comments by the U.S. Federal Reserve stating that an interest rate hike is possible.
- Silver rates dropped to Rs.46,835 per kilogram by the end of the week.
September '16 - Week 3 (12th to 18th)
- Market trends turned bearish this week as anticipation of a Fed rate hike grew strong.
- Silver traded at Rs.45,715 per kilogram on 12th September.
- Demand took a hit in the global and domestic market.
- At the end of the week, silver prices fell to Rs.45,370 per kilogram, a marginal decrease in prices.
September '16 - Week 4 (19th to 25th)
- Taking into account the upcoming U.S. presidential elections, the Federal Reserve took a decision to put the rate hike on hold for now.
- Investors, industrialists and coin makers increased their appetite.
- At the start of the week, silver traded at Rs.46,110 per kilogram.
- The highest price for this week was recorded on 22nd September at Rs.47,590 per kilogram.
- There was a slight drop in prices on 23rd September to Rs.47,535 per kilogram. Prices were constant for the rest of the week.
September '16 - Week 5 (26th to 30th)
- Domestic demand dropped on account of global bearish tendencies.
- On 26th September, silver traded at Rs.46,950 per kilogram.
- By the end of the month, silver traded low at Rs.45,750 per kilogram.
- The trend for this month was a 1.16% increase.
|1st August||Rs.49, 430 per kg|
|31st August||Rs.45, 460 per kg|
|Highest Price||Rs.49, 670 per kg on 03rd August|
|Lowest Price||Rs.44, 805 per kg on 29th August|
|Trend||Decline in silver prices|
August '16 – Weeks 1 (1st to 7th)
- The month started with silver prices at Rs.49, 430 per kg.
- Silver traded at Rs.49,670 per kg on the third day of the week which was also the highest silver rate recorded in the month of August. There was a moderate increase in silver price on day 5 of the week however it declined thereafter.
- Silver closed at Rs.47, 255 per kg on the last day of first week.
August '16 – Week 2 (8th to 14th)
- Silver opened at Rs.47, 460 per kg and remained steady for one day before silver prices increased.
- There was an increase in silver prices on the third day of the week. Silver prices increased from Rs.47, 460 to Rs.48, 595 per kg.
- Silver prices decreased during the last three days of the week and closed at Rs.47, 750 per kg.
August '16 – Week 3 (15th to 21st)
- Silver opened at Rs.47, 750 per kg which was the highest silver rate marked in the 3rd week of August.
- Silver prices continued to dip with minor fluctuations throughout the week.
- Silver closed at Rs.46, 690 per kg which was the lowest silver rate noted in the third week of the month.
August '16 – Week 4 (22nd to 28th)
- Following the weak trend overseas, silver prices declined slightly throughout the fourth week of the month.
- No significant increase or decrease in silver prices notes throughout the week. Silver prices remained almost steady.
- Silver closed at Rs.45, 040 per kg on the last day of fourth week of the month.
August '16- Week 5 (29th to 31st)
- On the first day of the week, silver traded at Rs.44, 805 per kg which is the lowest silver rate reported in the month of August.
- The decline in silver price throughout the week can be due to expected U.S rate hike, lack of demand from jewellers and positive U.S employment data.
- Silver prices increased in the last two days of the week and closed at Rs.45, 460 per kg.
|1st Day||Rs.46,490 per kg|
|Last Day||Rs.48,970 per kg|
|Highest Price||Rs.49,745 per kg on 11th July|
|Lowest Price||Rs.46,490 per kg on 1st July|
July'16 - Week 1 and 2 (1st to 10th)
- At Rs.46,490 per kg, silver was at its lowest price at the beginning of the month.
- Price of silver increased slightly to Rs.47,920 per kg the next day and stayed steady until the 3rd.
- Price of silver increased steadily after that to cost Rs.49,265 per kg on the 7th which was the highest for the week.
- Price of silver declined marginally after that to close at Rs.47,720 per kg on the last day of the second week.
July'16 - Week 3 (11th to 17th)
- On the 11th which was the first day of week 3, silver was priced at Rs.49,745 per gram which the highest for the month and the next day rates fell marginally though it managed to stay above the Rs.49,000 mark.
- Price of silver reduced even further as the week progressed with minor fluctuations.
- On the final day of the week, silver was priced at Rs.48,840 per kg and continued decreasing post that.
July '16 - Week 4 (18th to 24th)
- As compared to week, 4, there was a marginal decline in the price of silver. This decline can be attributed to due a decrease in demand.
- There were minor fluctuations noted in the price of silver as the week progressed.
- On the final day of the week, the price of silver was Rs.47,420 per kg which was relatively quite high.
July‘16 - Week 5 (25th to 31st)
- Price of silver declined again in the final week of the month although this decrease was minor and prices bounced back the next day.
- The highest rate of silver seen during the week was on the last two days of the month wherein silver was priced at Rs.48,970 per kg.
|June 1st Rate||Rs.38,640 per kg|
|June 30th Rate||Rs.44,635 per kg|
|Highest Rate in June||Rs.44,635 per kg on the 30th of June|
|Lowest Rate in June||Rs.38,640 per kg on the 1st of June|
June 2016 – Week One(June 1st to June 4th)
- Silver traded at Rs.38,640 per kg on the 1st of June.
- The rate of silver increased to Rs.38.865 on the 3rd of June due to heavy demand.
- Silver traded at Rs.39.755 per kg on the 4th of June.
Jun'16 - Week 2 (5th to 11th)
- Silver traded at Rs.39,755 per kg on the 5th of June.
- Price dropped down to Rs.39,585 per kg on the 8th of June.
- Silver traded at Rs.41,265 per kg on the 9th of June.
- Silver traded at Rs,41,510 per kg on the 11th of June.
Jun'16 - Week 3 (12th to 18th)
- Silver remained unchanged at Rs.41,510 on the 12th of June.
- Silver rose to Rs.41,935 per kg on the 13th of June.
- Silver hit the highest for the week on the 16th of June at Rs,42,985 per kg.
- Prices dropped down during the next two days as silver traded at Rs.42,235 per kg on the 18th of June.
Jun'16 - Week 4 (19th to 25th)
- Silver traded at Rs.42,235 per kg on the 18th of June.
- As demand increased, the price of silver increased to Rs.42,405 on the 21st of June.
- The price of silver further rose over the week and hit the highest for the week on the 24th of June at Rs.43,465 per kg.
Jun'16 - Week 5 (26th to 30th)
- Silver remained unchanged at Rs.43,465 per kg on the 25th and 26th of June.
- The price of silver dropped down to Rs.43,245 on the 28th of June owing to low demand in the domestic and global market.
- Silver closed the month at Rs.44,635 on the 30th of June.
|1st May rate||Rs. 42,590|
|31st May rate||Rs. 39,065|
|Highest rate in May||Rs. 42,675 on 2nd of May|
|Lowest rate in May||Rs. 38,795 on 30th of May|
May '16 - Weeks 1 and 2 (1st to 8th)
- The price of silver traded at a high at the start of the week but fell slightly towards the end of the week.
- Silver traded at Rs. 42,590 on the 1st of May and at Rs. 41,875 on the 8th of May.
- The price dropped on the 3rd due to a fall in demand but rates evened out over the rest of the week.
- The relatively weak Dollar and stock market led to a higher demand for silver.
May '16 -Week 3 (9th to 15th)
- Silver prices dipped at the start of the week but rallied and recouped some of their losses by the end of the week.
- Silver prices were Rs. 41,725 on the 9th of May and Rs. 41,255 on the 15th of May.
- Prices fell due to a slump in silver demand but the weak Dollar pushed prices up to maintain a stable rate.
- Speculation of a Fed rate hike resulted in the Dollar gaining some ground towards the end of the week, which caused a slide in silver prices.
May '16 - Week 4 (16th to 22nd)
- Silver prices continued to slide throughout the week on strong data from the stock markets.
- Silver continued to trade at Rs. 41,255 on the 16th of May and fell by the end of the week, trading at Rs. 40,135 for a kg.
- A US Federal Reserve rate hike and a stronger US Dollar contributed to the slide in silver prices.
- The markets also began to stabilise as the Dollar gained ground against bullion, adding to pressure on silver, leading to it dropping.
May '16 - Weeks 5 and 6 (23rd to 31st)
- Silver prices fell further, as the market was buoyed by a stronger Dollar and positive data from the manufacturing industry.
- Silver traded at Rs. 40,060 on the 23rd of May and at Rs. 39,065 on the 31st of May.
- Weaker demand in the light of the recovering Dollar also led to prices falling.
|April 1st Rate||Rs.37,015|
|April 30th Rate||Rs.42,590|
|Highest Rate in April||Rs.42,590 on the 30th of April|
|Lowest Rate in April||Rs.35,765 on the 4th of April|
|Overall Performance||Gain / Positive|
Apr'16 - Weeks 1 & 2 (1st to 10th)
- Silver rates fluctuated widely during the first ten days of trading after which they began picking up and maintaining consistency towards the end of the week.
- Prices were recorded at Rs.36,780 on the 1st of the month and Rs.36,620 on the tenth day of the month.
- Firming international and domestic cues in addition to increase in industrial demand and higher offtake ensured that there was no further decline in prices.
Apr ‘16 - Week 3 (11th to 17th)
- Silver prices fluctuated during the third week of trading as rates first increased and then decreased before rising again at the end of the week.
- Prices were recorded at Rs.37,115 on the 11th of April and Rs.39,110 by the end of the seven-day period.
- Prices were on the up by almost Rs.2000 over the third week of trading, marking a significant increase owing to increase in demand and strong global cues.
Apr ‘16 - Week 4 (18th to 24th)
- The fourth week of April also witnessed fluctuations in silver rates as prices remained unchanged for the first two days before increasing on the following two days and then dipping marginally and remaining constant until the end of the week.
- Prices were recorded at Rs.38,920 on the first day of the week and Rs.41,155 on the last.
- Over the course of the week, prices jumped by more than Rs.2200, making the penultimate week of trading record the highest gains in the month of April.
Apr ‘16 - Week 5 (25th to 30th)
- Silver rates were mostly on the rise during the final week of trading.
- Prices were recorded at Rs.40,520 on the first day of the week and Rs.42,590 on the last day of the month.
- The month ended on a good note for jewellers and traders as prices during the final week were the highest in the month.
|1st March rate||Rs.37,005|
|31st March rate||Rs.36,495|
|Highest rate in March||Rs.38,640 on 18th|
|Lowest rate in March||Rs.36,455 on 29th|
Mar'16 - Week 1 (1st to 6th)
- Silver prices declined in the first week of March.
- Prices were Rs.37,005 on 1st and Rs.36,640 on 6th.
- Prices were mostly stable over the week except for 2nd and third when they fluctuated between Rs.37,710 and Rs.36,640.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Silver appreciated in the 2nd week.
- Prices were Rs.37,695 on 7th and Rs.37,710 on 13th.
- There was no major fluctuation as prices touched Rs.37,710 on 8th and remained there for the rest of the days.
Mar'16 - Week 3 (14th to 20th)
- Silver had some more gains in the 3rd week.
- Prices were Rs.37,650 on 14th and Rs.37,865 on 20th.
- Prices appreciated to Rs.38,640, the highest rate in March on 18th before falling back to Rs.37,865 by 20th.
Mar'16 - Week 4 (21st to 27th)
- Silver declined in the 4th week.
- Rates were Rs.37,930 on 21st and Rs.36,685 on 27th.
- Prices appreciated at the start of the week before declining towards the end.
Mar'16 - Week 5 (28th to 31st)
- Silver lost some more value in the last days of the month.
- Prices were Rs.36,570 on 28th and Rs.36,495 on 31st.
|1st February rate||Rs.34,970|
|29th February rate||Rs.36,295|
|Highest rate in February||Rs.38,640 on 12th|
|Lowest rate in February||Rs.34,970 on 1st|
Week 1 (1st to 7th)
- Silver gained value coming into February.
- Rates were Rs.34,970 on 1st and Rs.36,925 on 7th.
- Silver was up on consecutive days in the week to rise by a margin of Rs.1,955 overall.
Week 2 (8th to 14th)
- Silver was up once more in February.
- Rates were Rs.36,950 on 8th and Rs.38,525 on 14th.
- Silver traded in negative on 10th and 11th before rallying to Rs.38,640 on 12th and ending the week at a slightly lower Rs.38,525.
Week 3 (15th to 21th)
- Silver rates were marginally up during third week’s trading.
- Prices were Rs.37,220 on 15th and Rs.37,930 on 21st.
- Silver rose by Rs.710 in a week that saw very less fluctuations.
Week 4 (22nd to 29th)
- Silver shed some of the gains in the last days of the month.
- Rates were Rs.37,615 on 22nd and Rs.36,295 on 29th.
- Silver rose to Rs.37,815 by 24th before sliding gradually to Rs.36,295 to end the month on an overall positive note.
4 th January rate
31 st January rate
Highest rate in January
Rs.35,565 on 28th
Lowest rate in January
Rs.33,295 on 13th
Jan '16 - Week 1 (4 th to 10 th )
Silver gained value in the 1st week of trading in 2016.
Prices were Rs.33,230 on 4th and Rs.33,865 on 10th.
Silver breached the 34,000-mark and rose to Rs.34,220 on 8th.
Prices slid to Rs.33,865 on 9th and were stable on 10th.
Jan '16 - Week 2 (11 th to 17 th )
Silver gained more value in the 2nd week.
Rates were Rs.33,750 on 11th and Rs.34,335 on 17th.
Silver rose continuously over the week except on 11th when it dropped to Rs.33,750 from Rs.33,865.
Jan '16 - Week 3 (18 th to 24 th )
Silver continued the positive run through the 3rd week also.
Rates were Rs.34,115 on 18th and Rs.34,425 on 24th.
Silver dropped marginally to Rs.34,070 on 19th before rising to Rs.34,800 by 21st.
Prices slid to Rs.34,480 on 22nd and again to Rs.34,425 on 23rd.
Jan '16 - Week 4 (25 th to 31 st )
Silver appreciated in the final week of the month.
It was priced at Rs.34,435 on 25th and Rs.34,930 on 31st.
Prices were mostly on the upward trend, touching a high of Rs.35,565 on 28th before losing some value over the next 3 days to end the month at Rs.34,930.
|Highest rate in December||Rs.35,050 on 5th and 6th|
|Lowest rate in December||Rs.33,050 on 18th|
- Silver Rates appreciated in the 1st week of the month.
- Rates were Rs.34,040 on 1st and Rs.35,015 on 7th.
- Silver fell on 3rd to sub-34,000 level before rallying on 5th to touch Rs.35,050.
- Silver prices declined in the 2nd week.
- Rates were Rs.34,415 on 8th and Rs.33,670 on 14th.
- Silver fell below 34,000 for the first time in the week on 11th and again on 14th to end lower at Rs.33,670.
- Silver Rates were up in the 3rd week.
- Prices were Rs.33,230 on 15th and Rs.33,900 on 21st.
- Silver was stable within the week-start and week-end rates all through the week.
- Silver Rates were once again mostly stable in the final weeks of December.
- Prices were Rs.34,020 on 22nd and Rs.33,405 on 31st.
- Silver was stable at a little over 34,000 all through 4th week but fell below this mark in the 5th week when it traded in Rs.33,490, Rs.33,545 and Rs.33,405.
|1st November rate||Rs.36,665|
|Highest rate in November||Rs.36,850 on 2nd|
|Lowest rate in November||Rs.33,725 on 23rd|
- Silver Rates depreciated in the 1st week of the month.
- Rates were Rs.36,665 on 1st and Rs.35,220 on 7th.
- Silver rose marginally to Rs.36,850 on 2nd before falling over the next 2 days to rest at Rs.35,820 on 5th.
- Silver dropped to Rs.35,220 on 7th from Rs.35,825 on 6th.
- Silver prices declined again in the 2nd week.
- Rates were Rs.35,220 on 8th and Rs.34,090 on 14th.
- Silver rose by Rs.1,045 on 9th to Rs.36,265 before depreciating consecutively till 13th to Rs.34,050.
- There was a marginal gain of Rs.40 on 14th when silver was selling at Rs.34,090.
- Silver Rates were stable overall in the 3rd week.
- Prices were Rs.34,090 on 15th and Rs.34,005 on 21st.
- Silver appreciated to Rs.34,485 on 16th before settling at Rs.34,090 again by 20th.
- Prices dropped to Rs.34,005 on 21st.
- Silver Rates were once again mostly stable in the final weeks of November.
- Prices were Rs.34,005 on 22nd and Rs.33,940 on 30th.
- Silver dropped to a low of Rs.33,725 on 23rd but otherwise stayed between Rs.34,090 and Rs.34,290 till 29th.
- Prices dropped to Rs.33,940 on 30th from Rs.34,090.
Silver as an Investment in Hyderabad
Silver is quite popular as a form of investment in Hyderabad. A significant part of the population owns physical silver in one form or the other, and also considers it while hedging against inflation. Silver has been a mainstay in segments such as jewelries, coins, idols, artefacts etc. in the city. The following investment options are pursued by people from Hyderabad:
Jewelries: This is the most popular commodity among the residents of Hyderabad, and also the country at large. Jewelries form the mainstay of the precious metal business in Hyderabad, and there are a lot of stores and outlets to cater to the needs of the people. Silverware and other gifting items are also commonly sold in the city.
Coins: Silver coins are a popular commodity owing to their easy availability and liquidity options. Coins are sold by both private dealers and banks at a premium over the market rates. These are available in different purities as well as quantity of silver, making them a versatile and somewhat cheaper solution than buying bulk.
Bullions: Bullions are sold in larger quantities, generally over 1 kg of silver per piece of the metal. Bullions are also available in various purities, and can be purchased at market rates of silver. This makes them the cheapest option among physical silver products, as per market prices. Also, customers should ensure they only approach well-respected dealers only as these deals are done for substantial amount of money and reliability becomes an issue.
Commodity exchange: Silver is also available as a tradable commodity in exchanges such as NCDEX and MCX. These exchanges sell silver on futures contracts and are open for 6 months in a year. The base quantity is generally set at 1 kg of silver. Commodity exchanges allow customers to trade the metal without actually holding the metal in hand.
Silver Rates in Hyderabad in 2015
Per kg silver rate in Hyderabad at the start of 2015 was Rs.36,192. This increased to Rs.40,582 by 21st January, and stayed above Rs.37,000 for the most part of February. The first half of March saw prices declining to Rs.35,465 by 17th March, before a short recovery which brought prices to Rs.39,082 by 27th March. Prices once again stabilized at around Rs.37,000 over the course of April, before increasing demands for the metal took prices to Rs.43,566 by 18th May. Price per kg of silver in Hyderabad on 16th June was Rs.39,768.
Also Check Silver Price in NearBy Cities of Hyderabad
|Silver Rate in Chennai||Silver Rate in Bangalore||Silver Rate in Vijayawada|
|Silver Rate in Mysore||Silver Rate in Ahmedabad||Silver Rate in Visakhapatnam|
|Also Know: Gold Rate in Hyderabad|
Read more on Silver
- Some Facts About Silver
- Global Silver Demand
- Hallmarking Of Silver
- Buying Silver Bars And Coins
- Why Should You Invest In Silver?
- Learn About the Silver Price in COMEX