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Silver Price in Indore
Silver is one of the precious metal that many people can afford in Indore. As an alternative to gold, silver has provided better returns than gold. Silver rates in Indore had jumped at a rate of 354% from the year 2008 at the rate Rs.16,525 to Rs.75,020 in the year 2011. Silver prices will steadily rise in the medium to long term as the bullion rises in Indore. This precious metal seems to be stable all over the world even in times of financial uncertainty. Silver has also been called as the ‘poor man’s gold’ as it accessible to the people of Indore who may not be able to afford gold.
Silver as an Investment:
Jewelry - Buying silver as a jewelry or artefact is expensive than buying silver coins. But a lot of households use silver cutlery. Women like wearing silver ornaments like anklets, chains, rings and earrings. But, when you resell the jewelry, the making charges of about 10% is deducted and a melting charges is levied, which lowers the rate of return.
Coins and bars - Silver can be bought in coins and bars. Silver coins are used in India for gifting or during the puja ceremonies in certain religion. The silver purchases are high during the festive and wedding season. The banks also offer silver coins and bars and give an assay certification as well, but they won’t buy it back from you. Whereas, dealers and jewelers will.
Silver bullion - Through Bullion India, you can buy small quantities of pure silver at a lowest possible price with an option for free storage for no fee or brokerage. The market rates are affordable and the quality is ensured. It is easy to open and operate the account as minimum documentation is needed. You can redeem the holding and take physical delivery of the bullion at your doorstep.
Trend of Silver Rate in Indore for October 2016 (rates per kg)
|1st Day||Rs.45,900 per kilogram|
|Last Day||Rs.43,035 per kilogram|
|Highest Price||Rs.45,900 per kilogram on 1st and 2nd October|
|Lowest Price||Rs.41,685 per kilogram on 7th October|
October 2016 – Week 1 and 2 (1st to 9th)
- At the start of the week, silver traded at Rs.45,900 per kilogram.
- Bearish sentiments ruled the global markets as expectations of the Fed rate hike were strong.
- Demand for silver took a hit and rates started to drop.
- Silver traded at Rs.41,800 per kilogram on 9th October.
- The trend for this week was a considerable drop in silver prices.
October 2016 – Week 3 (10th to 16th)
- At the start of the week, silver rates improved slightly from last week’s drop.
- Silver traded at Rs.42,600 per kilogram on 10th October as demand picked up.
- Through the week, silver prices declined and settled at Rs.41,780 per kilogram on 15th and 16th October.
- The decline in silver rates could be attributed to a reduction in industrial offtake coupled with a gloomy atmosphere in the global market.
October 2016 – Week 4 (17th to 23rd)
- Rising expectations of the Fed rate hike led to a drop in silver rates on 17th October with silver trading at Rs.41,970 per kilogram.
- Demand picked up in the domestic market as the wedding season blossomed.
- Trends in the global market were positive as the Fed rate hike seemed uncertain till December.
- On 22nd and 23rd October, silver traded at Rs.42,130 per kilogram.
October 2016 – Week 5 (24th to 31st)
- Demand increased this week but did not meet expectations.
- On 24th October, silver traded at Rs.42,330 per kilogram.
- Coin makers and industrial units increased their offtake leading to a rise in silver prices.
- Silver reached its highest price for this week on 31st October, trading at Rs.43,035 per kilogram.
- The trend for this month was a decline in prices by 6.24%.
|1st Day||Rs.45,225 per kg|
|Last Day||Rs.45,750 per kg|
|Highest Price||Rs.47,820 per kg on 07th September|
|Lowest Price||Rs.45,225 per kg on 01st of September|
September Week 1 – (01st to 04th)
- Silver traded at Rs.45,225 per kilogram which is also the lowest price recorded for the month.
- Silver rates slightly increased and traded at Rs.45,610 per kilogram on 02nd September.
- On 04th of September, silver further rose and closed at Rs.46,760 per kilogram.
September week 2- (05th to 11th)
- As the much speculated Fed rate hike refused to cease, silver prices fell and traded at Rs.46,695 per kilogram.
- However on 07th of September, silver participants decided to put aside the speculation and increased their silver intake.
- Silver traded at Rs.47,820 per kilogram which is the highest silver rate recorded in the month.
- For the remaining days of the week, silver prices reduced gradually.
- Silver closed at Rs.46,835 per kilogram.
September week 3 (12th to 18th)
- On the first day of the week, silver prices reduced and traded at Rs.45,715 per kilogram.
- Throughout the week, silver prices suffered to remain constant avoiding major fluctuations in silver prices.
- Silver prices increased and traded at Rs.45,825 per kilogram on 15th September.
- However, silver prices drifted due to poor demand from domestic market and closed at Rs.45,320 per kilogram.
September week 4 (19th to 25th)
- On 19th of September, silver prices increased as domestic demand picked up and traded at Rs.46,110 per kilogram.
- Silver prices further rose and traded at Rs.47,590 per kilogram on 22nd September as demand from coin makers and jewellers saw an upward curve.
- Silver rates drifted to Rs.47,535 per kilogram as demand for silver fell on 23rd September and closed at the same price till the end of the week.
September week 5 (26th to 30th)
- Fed rate hike speculation and poor demand from local market both resulted in decrease in silver prices.
- Silver prices fell and traded at Rs.46,950 per kilogram on 26th September.
- On 27th September, silver further fell and traded at Rs.46,505 per kilogram.
- Silver prices drifted further and settled at Rs.45,750 per kilogram.
|Highest Price||Rs.49,670 per kilogram on 3rd August|
|Lowest Price||Rs.44,805 per kilogram on 29th August|
August '16 – Weeks 1 (1st to 7th)
- Silver traded at Rs.49,430 per kilogram on 1st August, starting the month on a strong note.
- As the dollar weakened, silver rates rose to Rs.49,670 per kilogram on 3rd August, the highest for the month.
- Prices started to drop on 6th August as the U.S. released positive economic data.
- Global demand fell and silver rates dropped to Rs.47,255 per kilogram.
August '16 – Week 2 (8th to 14th)
- Silver prices climbed at the beginning of the week.
- Silver traded at Rs.47,460 per kilogram on 8th August.
- Stable demand in the domestic market kept prices constant.
- Silver dropped to Rs.47,750 per kilogram on 13th August and remained constant going into week 3 of August.
August '16 – Week 3 (15th to 21st)
- Silver prices fluctuated through week 3 with an overall declining trend.
- Silver traded at Rs.47,750 on 15th August.
- By the end of the week, sluggish demand in the domestic market led to prices falling to Rs.46,690 per kilogram.
- The U.S. Federal Reserve was confident that a rate hike will be possible which resulted in a fall in demand in the global markets.
August '16– Week 4 (22nd to 28th)
- Silver traded at Rs.45,800 per kilogram on 22nd August.
- The dollar caught wind of a strong U.S. economy and started climbing.
- Silver prices dropped on account of this to Rs.45,040 per kilogram on 28th August.
- Prices this week showed some stability as domestic demand was consistent.
August '16 - Week 5 (29th to 31st)
- Silver prices dropped to the lowest for the month on 29th August when it was seen trading at Rs.44,805 per kilogram.
- With a Fed rate hike most likely possible in the coming month, prices of silver were low.
- Silver climbed slightly to Rs.45,460 per kilogram by the end of the month.
- Domestic demand is expected to pick up in the second half of 2016, but the trends in the global market may keep silver prices low.
|July 1st Rate||Rs.46,490 per 1 kg|
|July 31st Rate||Rs.48,970 per 1 kg|
|Highest Rate in July||Rs.49,745 per 1 kg on 11th of July|
|Lowest Rate in July||Rs.46,490 per 1 kg on July 1st|
July'16 - Week 1 and 2 (1st to 10th)
- Silver traded at Rs.46,490 per 1 kg on the 1st of July.
- Owing to heavy demand, silver climbed up to Rs.48,965 per kg on the 4th of July.
- Silver continued to climb up and hit Rs.49,265 per kg on the 7th of July.
- Silver closed the second week at Rs.49,745 per kg on the 10th of July.
July'16 - Week 3 (11th to 17th)
- Silver opened the third week at Rs.49,745 per kg the 11th of July.
- There was an increase in demand and price steadily climbed up to Rs.49,235 per kg on the 12th of July.
- Silver witnessed a decline as prices dropped down to Rs.48.840 per kg on the 16th of July.
- The price of silver remained constant at Rs.48,840 per kg on the 17th of July.
July '16 - Week 4 (18th to 24th)
- Silver traded at Rs.48,360 per kg on 18th of July.
- Prices came down to to Rs.46,665 per kg on the 21st of July as a result of lukewarm demand.
- Silver price increased to Rs.47,880 per kg on the 22nd of July.
- Silver closed the fourth week at 47,420 per kg on the 24th of July.
July‘16 - Week 5 (25th to 31st)
- Silver opened the week at Rs.47,160 per kg on the 25th of July.
- Silver traded at Rs.47,595 per kg on the 26th of July.
- The price of silver dropped down by Rs.220 on the 27th of July at Rs.47,375 per kg.
- Silver managed to recover and hit Rs.48,785 per kg on the 29th of July.
- Silver closed the month at Rs.48,970 per kg on the 31st of July.
|June 1st Rate||Rs. 38,640 per 1 kg|
|June 30th Rate||Rs. 44,635 per 1 kg|
|Highest Rate in June||Rs. 44,635 per 1 kg for 1 kg for 30th June|
|Lowest Rate in June||Rs. 44,635 per 1 kg on June 1st|
Jun'16 - Week 1 (1st to 4th)
- Silver traded at Rs. 38, 640 per 1 kg on the 1st of June.
- Silver price surged by Rs.225 per kg on the 3nd of June at Rs. 38,865 per kg.
- 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 as there was no change in the price from the previous week.
- The price of silver came down by Rs.65 from Rs. 39,755 per kg to Rs. 39,690 per kg on the 6th of June.
- Silver witnessed a further decline as prices dropped down to Rs. 39,585 per kg on the 8th of June.
- Prices steadily increased over the week and silver traded at Rs.41,510 per kg on the 11th of June.
Jun'16 - Week 3 (12th to 18th)
- Silver remained unchanged and traded at Rs.41,510 per kg on the 12th of June.
- Silver hit Rs.41,935 per kg on the 14th of June.
- Silver traded at Rs.42,958 per kg on the 16th of June.
- The price declined further over the week and silver hit Rs.42,235 on the 18th of June.
Jun'16 - Week 4 (19th to 25th)
- Silver traded at Rs.42,235 per kg on the 19th of June.
- Due to heavy demand in the global market,the price of silver rose to Rs.42,405 per kg on the 21st of June.
- The price of silver relatively increased over the week and hit Rs.43,465 per kg on the 24th of June.
- The price of silver remained unchanged on the 25th of June at Rs.43,465 per kg.
Jun'16 - Week 5 (26th to 30th)
- Silver traded at Rs.43,465 per kg on the 25th and 26th of June.
- The price further increased to Rs.43,980 per kg on the 29th of June.
- Silver closed the month at Rs.44,635 per kg on the 30th of June.
|1st May rate||Rs. 42,590|
|31st March 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 in Indore declined gradually due to weaker demand as well as market forces.
- Silver retailed at Rs. 42,590 per kg on the 1st of May and reached a monthly high of Rs. 42,675 on the 2nd of May.
- The price fell slightly for the rest of the week as supply exceeded demand.
- Silver retailed at Rs. 41,595 on the 6th of May, the price falling by Rs. 1,080 in the back of subdued demand.
- Silver rallied towards the end of the week to Rs. 41,875 on the 7th and 8th of May.
May '16 -Week 3 (9th to 15th)
- Falling demand kept silver prices low for most of the week, with the trend leaning towards a steady decline in prices.
- Silver traded at Rs. 41,725 per kg on the 9th of May, a decline of Rs. 150 from the previous week’s price.
- The price fell to a weekly low of Rs. 40,890 on the 10th of May as the Dollar strengthened due to a resurgent stock market.
- Prices rose marginally towards the end of the week, with silver trading at Rs. 41,255 per kg on the 15th of May.
May '16 - Week 4 (16th to 22nd)
- Silver rates fell further due to speculation of an interest rate hike by the U.S. Federal Reserve by June or July, bolstering the stock market and the U.S. Dollar.
- The price of silver remained constant at Rs. 41,255 per kg on the 16th of May, but prices began to slide as the week progressed.
- Data from the U.S. manufacturing industry showed sustained growth, helping the Dollar gain on other currencies, resulting in demand for silver falling.
- Silver retailed at Rs. 40,135 for one kg on the 22nd of May, a drop of Rs. 1,120 from the start of the week.
May '16 - Weeks 5 and 6 (23rd to 31st)
- With strong data indicating the possibility of an interest rate hike by June, the Dollar continued to strengthen, keeping demand for silver low and thus, pushing prices lower as well
- Silver traded at Rs. 40,060 per kg on the 23rd of May, with prices falling for the rest of the week.
- Prices fell to a monthly low of Rs. 38,795 per kg on the 30th of May as data from the U.S. job market was released, pushing demand for bullion lower.
- Silver recovered on the last day of the month as data was not as promising as expected, resulting in a trading price of Rs. 39,065 per kg.
|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 were on the decline during the first four days of trading after which started to increase and remained constant for the three days of the ten-day period which recorded a decline in price overall.
- Prices were recorded at Rs.36,780 on the 1st of the month and Rs.36,620 on the tenth day of the month.
- Prices started to rise towards the end of the week thanks to the firming of international and domestic cues.
Apr ‘16 - Week 3 (11th to 17th)
- Silver rates increased steadily during the third week of the month.
- Prices were recorded at Rs.37,115 on the first day of the week and Rs.39,110 on the last day of the week.
- Prices rose by almost Rs.2000 over the third week of trading, as domestic and global cues strengthened amidst increase in industrial demand.
Apr ‘16 - Week 4 (18th to 24th)
- Silver rates fluctuated during the fourth week of the month but recorded healthy gains over the seven-day period.
- Prices were recorded at Rs.38,920 on the first day of the week and Rs.41,155 on the last.
- Prices increased by more than Rs.2200 during the seven-day period, making it the best week for jewellers and traders over the month.
Apr ‘16 - Week 5 (25th to 30th)
- Silver rates increased steadily over the course of the week despite a marginal dip on the fourth day of trading.
- Prices were recorded at Rs.40,810 on the first day of the week and Rs.42,590 on the last day of 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 traded in the negative in the first week.
- Prices were Rs.37,005 on 1st and Rs.36,640 on 6th.
- Prices fell by Rs.365 over the course of the week.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Silver gained value in the second week.
- Rates were Rs.37,695 on 7th and Rs.37,710 on 13th.
- There were no major fluctuations as silver closed the week Rs.15 higher.
Mar'16 - Week 3 (14th to 20th)
- Prices were up by Rs.215 in the third week.
- Rates were Rs.37,650 on 14th and Rs.37,865 on 20th.
- Prices breached the 38,000 mark on 18th before subsiding to Rs.37,865 by the end of the week.
Mar'16 - Week 4 (21st to 27th)
- Prices were down by Rs.1,245 in this week.
- Rates were Rs.37,930 on 21st and Rs.36,685 on 27th.
- Silver breached Rs.38,000 mark on 22nd week before sliding to sub-36,000 rates by the end of the week.
Mar'16 - Week 5 (28th to 31st)
- There were more losses in the last 4 days.
- 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)
- There was appreciation in rates at the beginning of the month.
- Rates were Rs.34,970 on 1st and Rs.36,925 on 7th.
- Silver rallied all over the week, breaching the 36,000 mark and almost touching the 37,000-mark as prices closed at Rs.36,925.
Week 2 (8th to 14th)
- Silver prices appreciated again in the 2nd week.
- Rates were Rs.36,950 on 8th and Rs.38,525 on 14th.
- Silver was up for majority of the week, closing Rs.1,575 higher by the end.
Week 3 (15th to 21th)
- Silver continued its positive streak in the third week.
- Prices were Rs.37,220 on 15th and Rs.37,930 on 21st.
- The rise in this week was marginal on most days, ultimately closing Rs.710 higher at Rs.37,930.
Week 4 (22nd to 29th)
- Silver finally lost value towards the end of February.
- Prices were Rs.37,615 on 22nd and Rs.36,295 on 29th.
- Silver prices dropped by an overall amount of Rs.1,320 during this week.
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 rates appreciated in the 1st week of the month.
Prices were Rs.33,230 on 4th and Rs.33,865 on 10th.
Silver rose up to Rs.34,220 as on 8th before shedding a little and touching Rs.33,865 to end the week.
Jan '16 - Week 2 (11 th to 17 th )
Silver continued its gain in the 2nd week.
Rates were Rs.33,750 on 11th and Rs.34,335 on 17th.
Prices slid to Rs.33,295 on 13th before rallying to Rs.34,220 on 14th
Silver rose to Rs.34,335 on 15th and remained stable for the rest of the week.
Jan '16 - Week 3 (18 th to 24 th )
The gains continued through the 3rd week also.
Prices were Rs.34,115 on 18th and Rs.34,425 on 24th.
Silver rates fluctuated from a low of Rs.34,070 on 19th to a high of Rs.34,800 during the course of the week.
Jan '16 - Week 4 (25 th to 31 st )
The 4th week also registered gain for silver rates.
Prices were Rs.34,435 on 25th and Rs.34,930 on 31st.
Silver appreciated continuously till 28th to touch Rs.35,565 before losing some value to settle at Rs.34,930 for the month.
|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 December.
- Prices were Rs.34,030 on 1st and Rs.35,015 on 7th.
- Silver lost value for the first time in the month on 3rd when prices dropped to Rs.33,660.
- Prices appreciated by an overall Rs.1,355 till 7th to settle at Rs.35,015 for the week.
- Silver prices were down in the 2nd week of the month.
- Prices were Rs.34,415 on 8th and Rs.33,670 on 14th.
- Silver was mostly on a downward trajectory through the week and bottomed out on 14th at Rs.33,670.
- Silver Rates were stable on the whole in the 3rd week.
- Prices were Rs.33,230 on 15th and Rs.33,900 on 21st.
- Silver traded in the stable rage of Rs.33,000 to 33,900 in this week, though there was a steep drop on 18th which was recuperated on 19th.
- Silver Rates went down at the end of the month.
- Prices were Rs.34,020 on 22nd and Rs.33,405 on 31st.
- Prices were stable till 28th hovering just above Rs.34,000 before stabilizing around Rs.33,500 for the rest of the month.
|1st November rate||Rs.37,670|
|30th November rate||Rs.33,940|
|Highest rate in November||Rs.37,670 on 1st, 2nd and 3rd|
|Lowest rate in November||Rs.33,940 on 30th|
- Silver rates depreciated in the 1st week of November.
- Prices were Rs.37,670 on 1st and Rs.36,100 on 7th.
- Silver was stable in the first 3 days at Rs.37,670 before dropping to Rs.36,200 on 4th.
- Silver stabilized at Rs.36,450 on 5th and 6th and fell to Rs.36,100 on 7th.
- Silver was again devalued in the 2nd week of November.
- Prices were Rs.36,100 on 8th and Rs.35,000 on 14th.
- Silver rates dropped on 10th, 11th and 13th and were stable at preceding days’ rates for the remaining days of the week.
- Silver Rates were stable on the whole in the 3rd week.
- Prices were Rs.35,000 on 15th and Rs.34,995 on 21st.
- Silver was stable at Rs.35,000 till 18th, dropped to Rs.34,675 on 19th and rose marginally to Rs.34,775 on 19th.
- Silver rose by Rs.220 on 21st to settle at Rs.34,995 for the week.
- Silver Rates were stable overall towards the end of the month.
- Prices were Rs.34,995 on 22nd and Rs.33,940 on 30th.
- Silver was stable at Rs.34,995 till 25th before dropping to Rs.34,290 on 26th and Rs.34,090 on 28th.
- Prices dropped slightly on the last day to end the month at Rs.33,940.
Silver Price Trends in Indore
Silver rate as of 16th June, 2015 for 1 gram was Rs.39.36. The silver rates were at the highest at Rs.45,600 per kg in July 2014 and the lowest at Rs.35,990 in December 2014. The average value of silver over the last one year has hovered around Rs.39,000 per kg.
The rates are based on various indicators and information provided. People tend to buy silver despite the prices being high, as they believe that the silver bullion value will soar in the coming years.
Where can you Buy Silver from in Indore?
You can buy silver in Indore at R K Jewellers, Anil Jewellers, Vivek Jewellers, Vinayak Jewellers, Kanashri Jewellers, Arpit Jewellers, Subash Chandra Chandmal Jain, Raghunath Prasad & Sons, Hiralal Motilal Saraf, Shri Mahalaxmi Jewellers, etc.
Also Check Silver Price in NearBy Cities of Indore
|Silver Rate In Bhopal||Silver Rate In Delhi||Silver Rate In Raipur|
|Silver Rate In Jaipur||Silver Rate In Pune||Silver Rate In Nagpur|
|Also Know: Gold Rate in Indore|