Silver Rate in Indore

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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 December 2018 (rates per gram)

Silver Rate Trend in Indore in December 2018:

• The price of silver opened the month of December at Rs.38,500 per kg and increased steadily throughout the month.
• The major reason for the increase in the price of the metal was the strengthening of the rupee against the dollar which led to an increase in demand.
• Due to the US-China trade truce in December, the markets crashed leading to an increase in investments on the bullion by the investors. The value of the dollar also fell against other currencies.
• At the end of the month, the price of the metal closed at Rs.41,500 per kg which resulted in an incline of 7.79%.

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

Silver Rate Trend in Indore for November 2018:

• Silver rates in Indore dropped considerably with domestic demand being suppressed by the strong US dollar and poor market trends overseas.
• Trading commenced for the month with the industrial metal trading at Rs.40,900 per kg on the 1st with strong local as well as domestic demand for the metal. With jewellers and retailers ramping up purchases ahead of the festive season, prices surged to a monthly high of Rs.41,500 per kg on the 2nd.
• Despite the positive trend overseas and volatile equity markets, demand for the metal remained low for much of the month and silver was recorded trading at Rs.40,000 per kg on the 12th.
• Prices continued to drop towards the end of the month with Asian orders for the industrial metal plummeting amid the declining Chinese economy. Trading closed for the month with silver priced at Rs.38,800 per kg on the 30th, registering a 5.13% drop in rates during the course of the month.

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

October 2018 - Week 1 (1 - 7):

• The rising crude oil prices and the falling rupee were the highlight for this month’s trading sessions.
• When the month began, silver was priced at Rs.41,100 per kg. As the dollar was also on the weaker side along with the rupee, silver hit its highest level on the 3rd, when it traded at Rs.42,000 per kg.
• The next few days saw silver prices consolidate slowly before ending at Rs.41,900 per kg on the 7th of October.

October 2018 - Week 2 (8 - 14):

• Silver prices had fallen by Rs.400 when this week trading started with silver trading at Rs.41,500 per kg.
• Prices went down over the next few days but picked back up as the week was nearing its close.
• Over the midweek, silver rates hit Rs.41,200 per kg but increased to Rs.41,500 per kg on the final day of this week.

October 2018 - Week 3 (15 - 21):

• The third week of October started with silver opening at Rs.41,900 per kg as demand for the metal had surged over the weekend.
• However, as demand slowed down, prices went down to Rs.41, 400 per kg on the 17th before rising slightly to trade at Rs.41,700 per kg on the 19th.
• Over the final two days of the week, i.e., the 20th and 21st, silver was seen trading at Rs.41,500 per kg and Rs.41,400 per kg respectively.

October 2018 - Week 4 (22 - 28):

• This week started with silver opening at Rs.41,500 per kg as prices remained close to the previous week’s closing.
• As the rupee fell and local markets remained volatile, silver rates went up to Rs.41,900 per kg on the 24th of October.
• Due to a fluctuating dollar, silver rates went down to Rs.41,500 per kg on the 26th of the month before closing at Rs.41,700 per kg on the 28th.

October 2018 - Week 5 (29 - 31):

• The final week of October saw silver start strong but drop as the days progressed. When the week began on the 29th, silver was priced at Rs.41,600 per kg.
• However, as demand slowed down, rates went down to Rs.41,200 per kg before continuing at the same rate on the 31st of October as well.
• Price trends recorded a 0.24% incline this month as demand from the local market was on the higher side owing to a poorly performing rupee.

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

September 2018- Week 1 (1-8):

• When the trading for silver opened for the month of September, silver was priced at Rs.40,000 per kg.
• However, on 5th of the month, silver prices in Indore recorded a monthly low of Rs.39,500 per kg as the demand for the metal fell.
• Meanwhile, the ongoing trade war affected the stock market negatively and investors turned towards safe-haven assets which helped silver prices in Indore inclined and closed at Rs.39,700 per kg.

September 2018- Week 2 (9-15):

• On 9th of the month, the price of silver continued to trade at Rs.39,700 per kg amid stable demand for the metal.
• Meanwhile, the US inflation data dimmed the policy tightening case proposed by the US Federal Reserve and the value of the US dollar fell.
• As the US dollar fell, silver rates inclined and traded at Rs.39,900 per kg from 11 to 13 September before falling to Rs.39,800 per kg on the 14 due to poor demand. Silver rates further fell on 15 September and closed at Rs.39,500 per kg.

September 2018- Week 3 (16-22):

• On 16 September, silver was traded at Rs.39,500 per kg and inclined gradually during the course of the week.
• Silver prices surged on 17 September and traded at Rs.39,700 per kg and further inclined to Rs.39,800 per kg and Rs.40,000 per kg on 18 and 19 September respectively.
• As the ongoing trade tension continued and the value of the US dollar fell further, the price of silver further inclined and traded at Rs.40,100 per kg on 20 and 21 before closing at Rs.40,300 per kg on the 22 September.

September 2018- Week 4 (23-30):

• Silver continued to trade at Rs.40,300 per kg on 23 September in Indore.
• However, due to muted demand, silver rates fell to Rs.40,000 per kg on 24 September but quickly recovered and surged to Rs.40,200 per kg on 25 and further inclined to Rs.40,800 per kg on 26 September.
• On 29 and 30 September, the highest silver rate of Rs.41,200 per kg was recorded for the month of September in Indore and recorded an overall incline of 3% for the month.

Trend of Silver Rate in Indore for August 2018 (rates per gram)

August 2018 - Week 1 (1 - 05):

• In Indore, silver was sold at Rs.41,400 per kg on 1 August 2018. This is also the highest recorded silver rate in Indore for the month of August.
• However, the price of the metal fell as the industrial demand for silver fell on 2 August and the metal traded at Rs.41,100 per kg.
• On 4 August, the price of silver surged in Indore as the retail demand for the metal picked up. On this day, silver increased by Rs.200 per kg.
• On 5 August, silver closed at Rs.41,300 per kg.

August 2018 - Week 2 (6 - 12):

• In the second week of August, silver prices in Indore fell continuously.
• However, on the first day of the week, as the demand from the industrial units was high, silver opened at Rs.41,300 per kg on 6 August.
• On the other hand, the value of the US dollar increased compared to other currencies as the US unemployment data revealed positive changes for the economy.
• As the value of the US dollar increased, the price of silver fell to Rs.41,200 per kg.
• A small hike in silver prices was noted on 09 August when the metal traded at Rs.41,400 per kg. On this day, silver recorded the highest silver rate in Indore for the month of August yet again.
• As the demand for the metal fell sharply, silver prices quickly fell on 10 August and traded at Rs.41,100 per kg. Throughout the week, demand for the metal played a huge role in determining silver prices in Indore.
• A small hike in silver prices was noted on the last two days of the week when the metal traded at Rs.41,200 per kg.

August 2018 - Week 3 (13 - 19):

• On 13 August, silver continued to trade at Rs.41,200 per kg.
• On 14 August, as the local demand for the metal fell, there was a sharp fall in silver prices in Indore. On this day, silver traded at Rs.40,900 per kg.
• As the value of the dollar further increased, silver prices fell further in the city.
• Though the value of the US dollar increased, the demand for the metal was stable. Due to which, silver prices rose to Rs.41,100 per kg on 15 August.
• However, due to weak overseas trend, the price of the metal fell to Rs.39,900 per kg on 16 August.
• Silver traded at Rs.40,000 per kg from 17 to 19 August.

August 2018 - Week 4 (20 - 26):

• Silver started at Rs.40,000 per kg on 20 August.
• On 22 August, the price of silver fell by Rs.100 per kg and traded at Rs.40,100 per kg.
• However, as the value of the US dollar increased further, silver prices in Indore fell drastically and traded at Rs.39,900 on 23 August.
• As the local demand for the metal also fell, the lowest silver rate for the month of August in Indore was recorded on 24 August when the metal traded at Rs.39,800 per kg.
• Silver closed at Rs.40,200 per kg on 26 August.

August 2018 - Week 5 (27 - 31):

• As the industrial demand for the metal was stable, silver continued to trade at Rs.40,200 per kg on 27 August.
• Silver was sold at Rs.40,400 per kg on 28 August.
• As the value of the US dollar started recovering, silver prices fell marginally during the last two days of the month and closed at Rs.40,300 per kg.

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

July 2018- Week 1 (1-10)

• Trading for silver at the start of July 2018 commenced at Rs.42,800 per kg.
• The price of the metal then declined moderately on 3 July. This dip can be linked to the drop of demand in industrial units. The price of silver at this time dipped to Rs.42,400 per kg. The value of the dollar with regard to other currencies was also recorded to be on the decline during this time.
• The price of the metal in the city then rose to Rs.42,800 and stagnated for the next few days. The variation in local industrial offtake could have been the cause for the increment in silver prices.
• At the end of week 1 in July, on 9 - 10 July, silver rates in the city increased to Rs.42,900 per kg. This could be because of positive market trends clubbed with declining dollar rates over other currencies.

July 2018- Week 2 (11-17)

• The decline in demand for silver in Indore caused the price of the metal to decline as well. The silver price in Indore for the second week of July declined when compared to the latter part of week 1. The price of the metal during this time stood at Rs.42,600.
• Industrial demand for the metal dipped further which in turn decreased the silver price in Indore. The price from 12 - 14 July stood at roughly Rs.42,200.
• Due to stable industrial demand, silver prices continued to be relatively stable. Silver rate in Indore on 16 July stood at Rs.42,300 per kg.
• Due to the decline in dollar value over other currencies, the price of silver in Indore then increased towards the end of the week and stood at Rs.42,100 per kg on 17 July.

July 2018- Week 3 (18 - 24)

• The price of silver in the third week of July declined when compared to the previous week of July. The price of the metal on 18 July stood at Rs.41,700 per kg. This can be associated with decreased industrial demand for silver during the same time.
• The value of the dollar in comparison with other currencies then rose on 20 July causing the silver price in Indore to drop further. The metal was valued at Rs.41,300 per kg on 20 July.
• Demand for the metal increased in the following few days which led to the increment in the silver rate. The price of silver in Indore on 21 - 22 July stood at Rs.41,700 per kg.
• The price of the metal declined towards the end of the week in Indore as it stood at Rs.41,400 per kg on 24 July.

July 2018- Week 4 (25 - 31)

• Steady industrial demand for the metal caused the price of silver to drop to Rs.41,500 per kg on 25 July.
• Due to the decline of dollar value, silver prices spiked on 26 July to Rs.41,800 per kg. However, demand for the metal dropped which naturally caused the decline in silver prices over the next few days.
• As on 28 - 29 July, the price of silver stood at Rs.41,200 per kg.
• 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.

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

June 2018 - Week 1 (1 - 10):

• When the month began, silver rate in Indore was recorded holding at Rs.42,800 per kg with local demand on the decline amid the gaining US greenback and rising stock markets.
• With industrial demand capped by the weak trend overseas, silver price in Indore dropped to a monthly low of Rs.42,600 per kg on the 2nd and continued trading at the same rate until the 5th.
• However, with market participants speculating over disagreements between the participating nations at the G7 summit, demand for safe-haven assets such as gold and silver rose during the week.
• On the 10th, the white metal was priced at Rs.43,700 per kg with strong investor demand brought about by the positive trend overseas.

June 2018 - Week 2 (11 - 17):

• The week saw silver price in Indore touching monthly highs with demand influenced by the US Fed Reserve monetary policy meeting held mid-week.
• Silver was recorded trading at Rs.43,900 per kg when the week opened amid firm overseas trends.
• Strong investor demand brought about by the US central bank’s decision to leave the Fed rates untouched led to silver rate in Indore surging to Rs.45,000 per kg on the 15th.
• However, demand stabilised over the next couple of days and silver rates were recorded holding at Rs.44,300 per kg on the 17th.

June 2018 - Week 3 (18 - 24):

• The third week commenced with the industrial metal priced relatively lower at Rs.43,400 per kg on the 18th with subdued domestic demand amid the strong US dollar and index and equities.
• With investor demand suppressed by the weak trend overseas, silver rate in Indore dropped to Rs.43,100 per kg on the 20th.
• The week came to an end with the white metal priced at Rs.42,900 on the 24th with subdued but steady demand from industrial units and coin makers amid firm overseas trends.

June 2018 - Week 4 (25 - 30):

• The final week began with silver trading at Rs.43,200 per kg on the 25th on account of strong local retail demand brought about by a drop in the dollar value.
• However, with the US dollar index gaining against a basket of other major currencies, prices dropped to Rs.43,000 per kg on the 28th.
• The month came to an end with todays silver rate in Indore holding at Rs.42,800 per kg with poor domestic demand amid the strengthened US dollar and rising equity markets.

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

May 2018 - Week 1 (1st - 6th):

• The month began in Indore with silver rates holding at Rs.42,000 per kg - the lowest recorded monthly figure - on the 1st with poor industrial demand amid the strong US dollar index and rising equities.
• Strong political tensions between the US and North Korea coupled with the US-Sino trade talks led to silver price in Indore rising considerably during the week.
• Silver rate in Indore rose to Rs.42,600 per kg on the 3rd following strong industrial orders from the Asian continent brought about by the firm trend overseas.
• Steady demand from local industrial units and coin makers coupled with positive market trends led to silver prices remaining unchanged at Rs.42,600 per kg for the remainder of the week.

May 2018 - Week 2 (7th - 13th):

• The second week of trading opened with silver priced at Rs.43,200 per kg - an increase of Rs.600 from the previous session - on the 7th owing to an increased industrial offtake for the metal.
• Though prices dropped initially, the poorly performing US dollar coupled with losing equity markets led to silver price in Indore improving during the week.
• Silver prices plunged to Rs.43,000 per kg on the 8th as the greenback rose against a basket of other apex currencies, making the bullion expensive for foreign market participants.
• With diplomatic relations deteriorating between North Korea and the US, stock markets tumbled. This led to investors banking on safe-haven assets such as the bullion over the next couple of days.
• Strong investor demand coupled with firm market trends led to silver rate in Indore rising to Rs.43,100 per kg on the 9th, which further surged to Rs.43,300 per kg on the 10th.
• With domestic markets tracking favourable cues overseas, demand from industrial units and coin manufacturers surged. This led to silver being priced at Rs.43,500 per kg on the 11th.
• The rest of the week saw the white metal trading firm at Rs.43,500 per kg with consistent local demand amid the positive trend overseas.

May 2018 - Week 3 (14th - 20th):

• Trading commenced for the third week with silver price in Indore holding firm at Rs.43,600 per kg on the 14th as the dollar weakened after the US-North Korean summit was called off unexpectedly.
• However, with the US dollar index regaining lost ground, demand for the metal plunged over the next couple of days.
• Poor global demand coupled with weak market trends led to silver rates dropping to Rs.43,300 per kg on the 15th before plummeting to Rs.43,000 per kg on the 16th.
• Rates rose marginally to Rs.43,200 per kg on the 17th, but with industrial demand held in check by the strengthening US dollar, prices dropped to Rs.43,000 per kg on the 18th.
• Thanks to an increase in domestic demand, silver rate in Indore rose to Rs.43,100 per kg on the 20th as the week came to an end.

May 2018 - Week 4 (21st - 27th):

• Trading opened for the week with the white metal priced at Rs.43,100 per kg on the 21st on account of steady demand from local industries and coin makers.
• With political tensions rising in the Middle East and the European continent, safe-haven demand surged considerably during the week.
• Strong investor demand coupled with positive global cues led to silver rate in Indore rising to Rs.43,500 per kg on the 23rd.
• Though prices dropped to Rs.43,300 per kg the next day, steady investor demand for the bullion led to silver price in Indore recovering to Rs.43,800 per kg on the 25th.
• Trading concluded for the week with the industrial metal prices finishing lower at Rs.43,600 per kg on the 27th as domestic demand declined amid the recovering greenback and equities.

May 2018 - Week 5 (28th - 31st):

• The last week began with silver trading at Rs.43,000 per kg on 28th as domestic rates dropped by Rs.600 from the previous session amid the strengthening US dollar.
• Rates rebounded to Rs.43,100 per kg on the 29th, but with the US greenback rising against other apex currencies on the back of positive market sentiments on the US-North Korean summit, silver prices dropped to Rs.42,900 per kg on the 30th.
• The month came to an end with the industrial metal prices holding at Rs.43,100 per kg on the 31st with demand stabilising amid the steady dollar.
• Silver rates in Indore recorded an incline of 2.61% due to the strong global cues that pushed demand higher during the course of the month.

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

April 2018 - Week 1 (1st - 7th):

• When the week began in Indore, silver was recorded trading at Rs.41,400 per kg on the 1st with steady industrial demand amid the positive trend overseas.
• With the US dollar losing against a basket of other major currencies, demand for the metal surged during the week and silver price in Indore was recorded holding at Rs.41,600 per kg on the 3rd.
• However, with the US dollar recovering from its initial losses, demand flatlined and the industrial metal was recorded trading at Rs.41,000 per kg on the 5th.
• The week concluded with silver priced at Rs.41,200 per kg on the 7th following a slight increase in industrial demand for the white metal.

April 2018 - Week 2 (8th - 15th):

• The second week commenced with silver trading at Rs.41,200 per kg on the 8th with local demand on the decline amid the recovering US dollar.
• However, with the US markets tumbling amid the poor global cues, demand for safe-haven assets surged and silver rate in Indore was recorded trading at Rs.41,700 per kg.
• Demand rose further during the week with strong industrial orders from the Asian continent and silver was priced at Rs.42,000 per kg on the 12th.
• Trading concluded for the week with silver price in Indore holding at Rs.41,900 per kg on the 15th with subdued but steady local demand for the industrial metal.

April 2018 - Week 3 (16th - 22nd):

• Demand surged significantly during the week as US markets began to tumble after the US’s involvement in Syria.
• The week opened with silver priced at Rs.42,100 per kg on the 16th with strong domestic demand amid the positive trend overseas.
• The 18th saw silver rate in Indore rising further to Rs.42,500 per kg with investor demand on the rise amid the weakened US dollar index.
• With trade war concerns between the US and China impacting stock markets, demand for safe-haven assets during the week.
• On the 19th, the white metal was recorded trading at Rs.43,700 per kg with strong investor demand brought about by positive market cues.
• Silver price in Indore rose to a monthly high of Rs.43,800 per kg on the 20th with strong global demand amid the positive trend overseas.

April 2018 - Week 4 (23rd - 30th):

• The last week began with silver trading at Rs.43,700 per kg on the 1st with steady local demand from coin makers and industrial units amid the strong trend overseas.
• With the US dollar index regaining lost ground against a basket of other major emerging currencies, demand for the metal dropped and silver rate in Indore was recorded holding at Rs.42,800 per kg on the 27th and the 28th.
• The month came to an end with the industrial metal priced at Rs.42,300 per kg on the last day of trading, registering an incline of 2.17% in silver trade during the course of the month.

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

March 2018 - Week 1 (1st - 4th):

• Silver traded at Rs.41,100 per kg on the opening day of the month in Indore.
• During the week, the price for a kilogram of silver inclined influenced by the positive demand for the industrial metal in the global market which had its impact in the domestic market.
• By the end of the week, the silver price in Indore rose by Rs.400 per kg as the USD depreciated over other emerging currencies.
• The silver price stood at Rs.41,600 per kg by the end of the week attributed to the sustained demand in the domestic market.

March 2018 - Week 2 (5th - 11th):

• Silver began trading at the start of the second week of March 2018 at Rs.41,700 per kg, rising by Rs.100 over the previous day.
• On the 6th, the price declined to Rs.41,400 per kg before moving upwards to stand at Rs.41,900 per kg determined by the increase in demand by the local industries.
• The silver price in Indore on the 8th declined to stand at Rs.41,500 per kg due to subsided demand and it continued to trend till the 9th of the month.
• On the 11th, the silver rate in Indore increased to Rs.41,600 per kg due to the surge in demand by the local industries.

March 2018 - Week 3 (12th - 18th):

• The silver price in Indore began trading at Rs.41,600 per kg but declined to stand at Rs.41,400 per kg on the 13th.
• Silver prices continued to fluctuate over the week as the industrial metal rose to Rs.41,700 per kg on the 14th before declining to Rs.41,500 per kg on the 15th.
• With a weaker demand, silver prices constantly dropped during the course of the month.
• The silver rate in Indore on the 16th declined to Rs.41,300 per kg before dropping further to stand at Rs.41,100 per kg on the last two days of the week.

March 2018 - Week 4 (19th - 25th):

• The silver rate in Indore for a kilogram stood at Rs.41,000 when the fourth week of March began. However, the price increased by Rs.200 per kg on the 20th pushing the silver price to Rs.41,200 per kg.
• Silver prices dropped again on the 21st which stood at Rs.41,000 per kg; however, it increased the next day to stand at Rs.41,500 per kg due to a rise in the demand for the metal.
• Buoyed by the steady demand, the silver price in Indore ended the week at Rs.41,600 per kg on the 25th of the month.

March 2018 - Week 5 (26th - 31st):

• The final week witnessed the silver rate in Indore open at Rs.41,600 per kg with no changes compared to the previous day’s rate.
• On the second day of the week, the silver price in Indore increased by Rs.200 per kg to stand at Rs.41,800 per kg owing to a steady demand for the metal in the market.
• During last three days of the month, the silver price in Indore continued to stand at Rs.41,400 per kg due to the steady demand.
• Overall, the silver price trend in Indore inclined by 0.72%, a slight increase compared to the previous month.

Trend of Silver Rate in Indore for February 2018 (rates per kg)

February 2018 - Week 1 (1st - 4th):

• Trading commenced in Indore with the industrial metal priced at Rs.42,600 per kg - the highest recorded monthly figure - on the 1st with the US dollar index losing ahead of the US employment data.
• Steady domestic demand from industrial units and coin makers amid the positive trends overseas led to silver rate in Indore remaining untouched at Rs.42,600 per kg on the 2nd.
• The US jobs data, however, proved to be stronger than expected and the US dollar recovered amid positive sentiments. This led to silver price in Indore dropping to Rs.41,700 per kg on the 3rd.
• The rest of the week saw the industrial metal trading firm at Rs.41,700 per kg with steady demand domestic demand amid the positive overseas trends.

February 2018 - Week 2 (5th - 11th):

• The second week began with the white metal prices holding at Rs.41,500 per kg on the 5th after a poor trend overseas resulted in a decline in industrial demand for the metal.
• Silver price in Indore rose to Rs.41,900 per kg on the 6th before dropping to Rs.41,400 per kg on the 7th after the US dollar index gained against a basket of other major emerging currencies in the international market.
• Silver prices plunged further to Rs.40,800 per kg on the 8th with a decline in domestic demand brought about by the strengthening US dollar and equities.
• However, an increase in demand from coin manufacturers and industries amid the weak global cues led to silver rates rebounding to Rs.41,000 per kg on the 9th.
• The dollar, however, regained lost ground the next day with the equity markets performing well in the global markets. This led to silver prices in Indore touching their lowest recorded monthly figure of Rs.40,600 per kg on the 10th amid the weak trends overseas.
• The week came to an end with silver rate in Indore holding at Rs.40,600 per kg on the 11th with subdued demand from industries and coin manufacturers.

February 2018 - Week 3 (12th - 18th):

• Silver rate in Indore rose considerably after the US dollar weakened amid the poorly performing equities during the week.
• When trading opened for the week, the industrial metal was recorded trading at Rs.40,900 per kg on the 12th with the US dollar weakening ahead of the US inflation data.
• With markets cautious ahead of inflation data and awaiting clues on the pace of US interest rate hikes by the Federal Reserve, the US greenback plunged. This led to silver price in Indore being priced at Rs.41,300 per kg and Rs.41,400 per kg on the 13th and the 14th respectively.
• Silver rates rose to Rs.41,800 per kg on the 15th before stabilising at Rs.41,700 per kg on the 16th after the US dollar index recovered from the impact of the US inflation data.
• Thanks to steady demand from industrial units and coin manufacturers amid the positive trends overseas, prices remained untouched at Rs.41,700 per kg for the rest of the week.

February 2018 - Week 4 (19th - 25th):

• The week opened in Indore with the white metal trading at Rs.41,600 per kg on the 19th following a slight decline in industrial demand from the previous week.
• With the dollar rising against other emerging currencies, demand for the metal plunged. This led to silver rate in Indore dropping to Rs.41,200 per kg on the 20th.
• Thanks to steady demand from industries and coin makers, the metal prices were recorded holding at Rs.41,200 per kg on the 21st.
• However, an incline in demand by investors and traders in order to hedge against the inflation concerns led to silver rates rebounding to 41,400 per kg on the 22nd.
• The 23rd witnessed silver price in Indore rising to Rs.41,600 per kg with strong demand for the industrial metal amid the positive global cues.
• With the US dollar recovering from the initial shock, rates plunged to Rs.41,500 per kg on the 24th.
• Steady domestic demand coupled with positive trends overseas led to silver being priced at Rs.41,500 per kg for the rest of the week.

February 2018 - Week 5 (26th - 28th):

• The final week began in Indore with the industrial metal trading at Rs.41,600 per kg on the 26th with strong demand for the metal.
• World markets refrained from making purchases ahead of new Federal Reserve chairman’s first congressional speech, as a result of which the US dollar decline. This led to silver rate in Indore surging to Rs.41,700 per kg on the 27th.
• However, with the Fed chief promising the nation to save the country’s economy from overheating while continuing to raise the interest rates as planned, the US dollar rebounded. This led to silver price in Indore plummeting to Rs.41,200 per kg on the last day.
• Poor global trends coupled with weak demand for the metal led to silver prices in Indore declining at 3.28% during the course of the month.

Trend of Silver Rate in Indore for January 2018 (rates per kg)

January 2018 - Week 1 (1 - 7):

• Trading commenced in Indore with the white metal priced at Rs.38,925 per kg on the 1st amid poor trends overseas. This was also the lowest recorded monthly figure in the city.
• Prices remained unaltered at Rs.38,925 per kg on the 2nd with steady demand from coin makers and industries.
• The next day saw silver rates rising considerably to Rs.39,110 per kg before plunging to Rs.38,995 per kg on the 5th after the strengthening dollar and equities led to a decline in domestic demand for the metal.
• The US dollar index, however, lost against a basket of other major currencies with stock markets taking a hit. This led to silver prices rebounding to Rs.39,265 per kg on the 5th.
• The poorly performing dollar compounded with steady demand for the metal led to silver closing at Rs.39,355 per kg on the 6th.
• Silver rates were recorded holding at Rs.39,355 per kg on the 7th when the week came to an end amid firm overseas trends.

January 2018 - Week 2 (8 - 14):

• The week saw prices dropping initially before picking up considerably amid the weakening US dollar towards the end of the week.
• Silver was recorded trading at Rs.39,355 per kg on the 8th when the week began.
• However, with the US dollar index gaining considerable ground in the international market, demand for the metal dropped. This led to silver being priced at Rs.39,115 per kg on the 9th.
• Though prices plunged to Rs.38,925 per kg on the 10th, an increase in industrial offtake for the metal led to prices rebounding to Rs.39,110 per kg on the 11th.
• Thanks to steady demand by industrial units and coin makers, prices remained untouched at Rs.39,110 per kg the next day.
• Positive trends overseas coupled with strong domestic demand led to silver prices rising for the remainder of the week.
• Silver prices were recorded holding at Rs.39,265 per kg on the 13th amid the firm trends overseas.
• The week came to an end with the industrial metal trading at Rs.39,355 per gram on the 14th.

January 2018 - Week 3 (15 - 21):

• The third week saw silver prices in Indore dropping after the dollar strengthened as the week progressed.
• Trading began for the week with the white metal priced at Rs.36,670 per kg on the 15th with domestic demand tracking a firm trend overseas.
• Prices rose to Rs.39,680 per kg on the 16th and continued to remain untouched at the same rate the next day with steady demand for the metal.
• However, with the US dollar recovering from its previous losses, silver rates dropped to Rs.39,265 per gram on the 18th.
• Prices dropped further to Rs.39,115 per kg on the 18th before rebounding to Rs.39,265 per kg on the 20th as demand picked up after the US dollar lost against a basket of other emerging currencies.
• The week concluded with the industrial metal trading firm at Rs.39,265 per kg on the 20th amid positive global cues.

January 2018 - Week 4 (22 - 28):

• Firm trends overseas coupled with strong safe haven appeal for the metal led to silver rates surging significantly during the week.
• When trading began for the week, the white metal prices were recorded holding at Rs.39,265 per kg on the 22nd.
• The US dollar index lost against a basket of other emerging currencies amid the poorly performing equities in the international market.
• An incline in safe-haven investments amid the inflation concerns led to silver prices surging to Rs.40,285 per kg on the 25th.
• Thanks to strong and steady demand from industrial units and coin makers, silver continued trading at Rs.40,285 per kg for the remainder of the week.

January 2018 - Week 5 (29- 31):

• The final week began in Indore with the industrial metal prices relatively higher at Rs.41,700 per kg on the 29th following an incline in demand for safe-haven assets amid the weakening US dollar and equities.
• Silver prices dropped to Rs.42,200 per kg on the 30th with a slight decline in demand by industries and coin makers.
• The month concluded with the white metal trading firm at Rs.42,200 per kg after the dollar remained flat ahead of the two-day Federal Reserve monetary policy meeting.
• Indore recorded an incline of 8.41% in silver rates during the course of the month.

Trend of Silver Rate in Indore for December 2017 (rates per kg)

December 2017 - Week 1 (1st to 10th)

• Trading opened in Indore with silver priced at Rs.38,230 per kg on the 1st.
• Strong global cues coupled with increased domestic demand by industrial units and coin manufacturers led to silver prices rising to Rs.38,815 per kg on the 2nd.
• However, with the US dollar gaining against other apex currencies after the US tax reform bill moved a step closer to approval, silver rate in Indore plunged to Rs.37,965 per kg on the 5th.
• Thanks to an increase in domestic demand, prices recovered to Rs.38,395 per kg on the 6th.
• The demand, however, couldn’t keep up against the rising US dollar during the week. This led to the white metal prices dropping to Rs.37,235 per kg on the 7th before plunging further to Rs.36,620 per kg on the 8th.
• When the week came to an end, the industrial metal was recorded trading at Rs.36,715 per kg on the 10th with a marginal increase in domestic demand against the poor trend overseas.

December 2017 - Week 2 (11th to 17th)

• When trading opened for the second week silver was priced at Rs.36,920 per kg on the 11th with demand slightly improving from the previous week.
• However, prices dropped to Rs.36,620 per kg the next day before declining to Rs.36,545 per kg on the 13th amid the strengthening US dollar and well-performing equity markets. This was also the lowest recorded monthly figure in Indore.
• A decline in the US dollar index after the dollar weakened against other major emerging currencies led to an increase in demand for the white metal. This led to silver rate in Indore surging to Rs.38,395 per kg on the 14th.
• The 15th, however, witnessed rates plunging to Rs.36,920 per kg as demand for the metal subsided amid the strengthening dollar.
• Prices remained unchanged at Rs.36,920 per kg on the 16th but rebounded to Rs.37,180 per kg on the 17th with the new interest rate hike by the Fed Reserve proving to be unfavourable for the equities market.

December 2017 - Week 3 (18th to 24th)

• Trading opened for the third week with the industrial metal priced at Rs.38,395 per kg on the 18th.
• On the 19th, the white metal prices were holding at Rs.37,800 per kg. However, silver rates surged to Rs.38,395 per kg on the 20th owing to a steep incline in industrial demand amid a positive trend overseas.
• Silver price in Indore dropped again to Rs.37,705 per kg on the 21st after a decline in demand was brought about by the US dollar’s strong performance against other apex currencies.
• However, the new tax cuts by the Federal Reserve resulted in the Asian markets’ downfall. This led to an increase in demand for safe-haven assets such as silver and gold globally.
• When the week concluded, the white metal was recorded trading at Rs.38,395 per kg amid the strong trends overseas.

December 2017 - Week 4 (25th to 31st)

• When trading commenced for the week, silver was priced at Rs.38,395 per kg on the 25th. However, a poor demand from industries led to silver rates dropping to Rs.38,005 per kg on the 26th.
• Demand for the metal significantly rose during the week with the US dollar losing against other apex currencies. This led to the white metal being priced at Rs.38,275 per kg on the 27th.
• The 29th witnessed silver price in Indore surging to Rs.38,815 per kg before rising further to Rs.39,265 per kg the next day.
• On the final day, silver traded at a monthly high figure of Rs.39,265 per kg, which was due to strong year-end investor sentiments.
• Indore registered a incline of 2.70% in silver trade, thanks to the strong trend overseas that pushed demand higher for the industrial metal.

Trend of Silver Rate in Indore for November 2017 (rates per kg)

November 2017 - Week 1 (1st to 5th)

• When trading commenced for the month, silver was priced at Rs.38,995 per kg on the 1st of December.
• The 2nd saw silver price in Indore surging to Rs.39,950 per kg due to an increase in orders from industrial units and coin makers.
• Positive overseas trends during the next few days pushed demand for the metal higher in the local as well as global commodity markets.
• Silver rate in Indore stabilised at Rs.39,355 per kg on the 4th and remained untouched for the rest of the week, thanks to strong global cues coupled with steady industrial demand.

November 2017- Week 2 (6 to 12):

• The second week began with the white metal trading firm at Rs.39,355 per kg on the 6th owing to a steady demand that kept prices unchanged.
• Silver rate in Indore surged to Rs.40,040 per kg on the 7th as commodity markets took a hit following the surprise corruption purge in Saudi Arabia.
• With the dollar index plummeting over the next few days, domestic demand rose. This led to silver being priced at Rs.40,040 per gram on the 8th and the 9th.
• However, demand dropped with the dollar recovering as the week progressed. This led to silver rate in Indore plunging to Rs.39,970 per kg on the 10th.
• Steady local demand despite the poor trend overseas led to white metal prices remaining untouched at Rs.39,970 per kg until the 12th.

November 2017 - Week 3 (13th to 19th)

• Indore witnessed silver prices greatly influenced by the political uncertainty in the Middle East coupled with the geopolitical concerns with North Korea during the week.
• Silver opened relatively lower at Rs.39,870 per kg on the 13th after the week began with firmer equity markets from the previous week.
• Silver price in Indore surged to Rs.40,140 per kg on the 14th as the U.K economy collapsed after the Brexit fallout.
• Strong demand from the Asian industrial units led to silver prices rising further to Rs.40,240 per kg on the 15th and the 16th.
• However, with global markets recuperating, silver rate in Indore plunged to Rs.40,040 per kg on the 17th following a decline in domestic demand.
• The US economy tumbled with tensions rising in the Korean peninsula. This led to silver rates rebounding to Rs.40,520 per kg on the 18th. This was also the highest recorded monthly price in Indore.
• Strong global trends coupled with increased demand for safe-haven assets led to silver price in Indore remaining untouched at Rs.40,520 per kg on the 19th as well.

November 2017 - Week 4 (20th to 26th)

• The week opened with the white metal trading strong at Rs.40,440 per kg on the 20th.
• With the US economy recovering from the overseas crisis with North Korea, the next couple of days saw rates declining despite the steady domestic demand.
• The industrial metal was priced at Rs.39,780 per kg on the 21st before it plunged to Rs.39,265 per kg on the 22nd.
• The 23rd, however, witnessed silver rate in Indore surging to Rs.40,060 per kg with strong local demand coupled with a positive trend overseas.
• With the US-North Korean relations intensifying, demand for safe-haven assets like silver surged. This led to silver being priced at Rs.40,040 per kg on the 24th.
• The week concluded with the industrial metal trading at Rs.39,780 per kg on the 16th after prices declined with reduced domestic demand amid poor global cues.

November 2017 - Week 5 (27th to 30th)

• The last week witnessed silver rates plunging significantly owing to a considerable drop in industrial demand during the week.
• The white metal was recorded trading at Rs.39,780 per kg on the 27th when the week commenced.
• With equity markets and the dollar recovering amid possibilities of a new US tax reform plan to overhaul the country’s tax system, demand for the industrial metal plunged during the week.
• This led to silver rate in Indore plummeting to Rs.39,680 per kg and Rs.39,115 per kg on the 28th and the 29th.
• Poor demand coupled with uneven global trends led to silver being priced at Rs.38,640 per kg on the 30th.

Silver Price Trends in Indore

Silver rate as of 16^th 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

Read more on Silver

• Interesting Facts About Silver
• Effect Of Demand On The Silver Price
• How To Find Authentic Silver
• Industrial Usage Of Silver
• Buying Silver Bars And Coins