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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 February 2018 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver Rate on 1st February 2018||Rs.42,600 per kg|
|Silver Rate on 28th February 2018||Rs.41,200 per kg|
|Highest Rate in February||Rs.42,600 per kg on 1 and 2 February|
|Lowest Rate in February||Rs.40,600 per gram on 10 and 11 February|
|Overall Monthly Performance||Decline|
Trend of Silver Rate in Indore for January 2018 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver rate on 1st January 2018||Rs.38,925 per kg|
|Silver rate on 31st January 2018||Rs.42,200 per kg|
|Highest Rate in January||Rs.42,700 per kg on 29 January|
|Lowest Rate in January||Rs.38,925 per kg on 1, 2 and 10 January|
|Overall Monthly Performance||Incline|
Trend of Silver Rate in Indore for December 2017 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver Rate on 1st December 2017||Rs.38,230 per kg|
|Silver Rate on 31st December 2017||Rs.39,265 per kg|
|Highest Rate in December||Rs.39,365 per kg on 30 and 31 December|
|Lowest Rate in December||Rs.36,545 per kg on 13 December|
|Overall Monthly Performance||Incline|
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)
|Parameters||Silver price (per kg)|
|Silver rate on 1st November 2017||Rs.38,995 per kg|
|Silver rate on 30th November 2017||Rs.38,640 per kg|
|Highest Rate in November 2017||Rs.40,520 per kg on 18 and 19 November|
|Lowest Rate in November 2017||Rs.38,640 per kg on 30 November|
|Overall Monthly Performance||Decline|
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.
|Parameters||Silver price (per kg)|
|Silver rate on 1st October 2017||Rs.39,530 per kg|
|Silver rate on 31st October 2017||Rs.39,435 per kg|
|Highest Rate in September||Rs.40,440 per kg on 16 October|
|Lowest Rate in September||Rs.39,110 per kg on 5 and 19 October|
|Overall Monthly Performance||Decline|
October 2017 - Week 1 (1st to 8th)
- Silver opened at Rs.39,530 per kg in the month of October.
- The price remained constant for first two days at Indore, however, across the week there were fluctuation in the metal’s price.
- On 3 October, the silver price in Indore edged down due to the subdued demand from the buyers and investors , in spite of the firm equity market and US revenue.
- The lack of demand from buyers and retailers further dropped the silver to the month’s lowest on 5 October. The price of silver on that was Rs.39,110 per kg.
- Towards the end of the 1 st week, the silver’s rate in Indore crept up to Rs.39,680 per kg.
October 2017 - Week 2 (9th to 15th)
- The week opened with silver traded at Rs.39,950 per Kg, but as the week progressed, there was a gradual rise in the precious commodity’s price.
- The rising tensions between US and North Korea and poor job data factored the silver to be a safe haven, increasing the price to Rs.40,285 per kg on 11 October.
- From 12 October to 15 October, silver price in Indore was stable at Rs.40,390 per kg due to the ongoing instability in the US market and the rising demand ahead of the festive season.
October 2017 - Week 3 (16th to 22nd)
- Silver rate in Indore was the highest in the third week of October, which was apparently due to the huge demand pre-dhanteras.
- On 16 October, the silver traded at highest price and was priced Rs.40,440 per kg.
- The sudden drop in the demand post festive season and weak global cues dropped the silver price in Indore on 19 October to Rs.39,110 per kg, the lowest in the month.
- The political instability in europe affected the equities and US dollar rate drastically, increasing the appeal of the silver as safe haven. This sparked the price of silver to Rs.40,060 per Kg on the last day of the week.
October 2017 - Week 4 & Week 5 (23rd to 31st)
- On 25 October, the silver price in Indore inched down due to the subdued demand from the buyers, jewellers and retailers. In spite of having strong equity market, the demand for the precious metal went down.
- The MCX silver future was down by 0.32%. Although, the silver trading for the week began with Rs.40,040 per Kg, but as the week progressed the silver rate in Indore fell to Rs. 39,435 per Kg. There has been a drop of Rs.605 per kg.
- The bullion’s rate dropped further to Rs.39,115 per kg and was steady for two days that is 28 and 29 of October
- Towards the end of the month, that is on 30 October, the silver gained its lustre and was traded Rs.39,265 per kg. The volatility in the gold prices post diwali resulted the silver prices to go high.
- The month closed with silver traded at Rs.39,435 per kg.
|Parameters||Silver price (per 1 kg)|
|Silver rate on 1st September||Rs.40,390 per kg|
|Silver rate on 30th September||Rs.39,530 per kg|
|Highest Rate in September||Rs.40,900 per kg on 9 and 10 September|
|Lowest Rate in September||Rs.39,530 per kg on 28 to 30 September|
|Overall Monthly Performance||Decline|
September 2017- Week 1 (1st to 10th)
- Silver started at Rs.40,390 per kg on the 1st of September in Indore.
- As demand from domestic market poured in, silver prices continued to remain stable till the 3rd of the month.
- On the 4th, silver prices in Indore slightly increased and traded at Rs.41,075 per kg.
- On the 6th, silver prices picked up and traded at Rs.41,495 per kg as demand was stable.
- However, silver prices succumbed to a strong U.S dollar and positive employment data in the U.S.
- On 8th, silver prices pricked up again and traded at Rs.51,675 per kg as investors rushed to invest in the bullion market as the news of a nuclear test by North Korea surfaced.
- The highest selling price for the month was recorded on 9th and 10th when silver traded at Rs.41,900 per kg.
September 2017- Week 2 (11th to 17th)
- Strong U.S dollar kept silver prices low throughout the second week of September.
- Silver started at Rs.41,075 per kg.
- On the 12th, silver rates in Indore dropped to Rs.41,030 per kg as U.S dollar continued to remain strong.
- On 13th, silver prices settled at Rs.41,075 per kg.
- Silver prices did not see an increase throughout the week as U.S dollar remained strong.
- The lowest silver rate for this week was recorded from 14th of September to 17th of September when silver was sold at Rs.40,890 per kg.
September 2017- Week 3 (18th to 24th)
- In Indore, silver traded at Rs.40,440 per kg on 18 September.
- The drop in silver prices was due to the minor dip in orders from Europe.
- Prices continued to fall throughout week 3, with silver trading at Rs.39,670 per kg on 19 September.
- A small increase in silver prices in Indore was seen on the 20th of September when the white metal traded at Rs.40,060 per kg. This slight increase can be ignored as the prices quickly fell to Rs.39,670 per kg on the 21st of September.
- From 22nd to 24th of September, silver traded at Rs.40,040 per kg.
September 2017- Week 4 (25th to 30th)
- The last week saw a further decline in the price of silver in spite of continued geopolitical tensions in the United States.
- Following the victory of incumbent Chancellor Angela Merkel in the German elections, silver traded at Rs.39,670 per kg on 25 September and briefly rose to Rs.40,520 per kg on 26 September.
- The impending Catalan independence referendum did not appear to sway markets, which continued to rise, leading to a drop in demand for silver.
- Prices dropped to Rs.39,530 per kg on 28th September and remained constant till the month ended on 30th September.
- The lowest silver price recorded for the month of September in Jaipur was from 28th to 30th of September when silver was sold at Rs.39,530 per kg.
- Silver prices in Indore for the month of September in Indore registered a loss of 2.12%
|Parameters||Silver price (per kg)|
|Silver Rate in 1st August||Rs.38,925 per kg|
|Silver Rate in 31st August||Rs.40,040 per kg|
|Highest Rate in August||Rs.40,190 per kg on 29 & 30 August|
|Lowest Rate in August||Rs.37,235 per kg on 5 & 6 August|
|Overall Monthly Performance||Incline|
August 2017 - Week 1 (1st-6th)
- The first week witnessed silver rate in Indore drop sharply due to deteriorating industrial demand coupled with poor global trade.
- The week began with silver trading well at Rs.38,925 per kg on the 1st as industries and retailers involved themselves in mass purchases.
- However, the prices fell to Rs.38,455 per kg on the 2nd following the recovery of the US dollar which resulted in reduced industrial demand.
- Silver rate in Indore further dropped to Rs.37,965 per kg on the 3rd as investors reduced demand awaiting disclosure on the foreign trade meetings.
- The white metal rates hit a monthly low figure of Rs.37,235 per kg on the 5th due to high interest rates released by Federal Reserve which resulted in industries and coin makers suspending their purchases.
- The week ended with silver trading at Rs.37,235 per kg on the 6th.
August 2017 - Week 2 (7th-13th)
- Silver traded at Rs.37,295 per kg on the 7th as the week began.
- Prices went up to Rs.38,345 per kg on the 8th as silver trade began to recover in the local market.
- However, silver rate in Indore dropped again to Rs.37,965 per kg on the 9th following an uncharacteristic drop in industrial demand.
- The white metal rates surged to Rs.38,925 per kg on the 10th owing to the US - North Korea conflicts resulting in high silver demand.
- Prices went up further to Rs.39,530 per kg on the 11th as industries began to ramp up their purchases.
- With steady demand from industries and coin makers, silver traded at Rs.39,670 per kg on the 12th and the 13th.
August 2017 - Week 3 (14th-20th)
- Silver price in Indore moved back and forth during the third week due to unsteady global as well as local demands.
- Silver traded at Rs.39,670 on the 14th and the 15th due to steady demand from industries and coin makers.
- As the US dollar rose to make a comeback, demand for the metal deteriorated in the local and global markets. This resulted in silver trading at Rs.38,815 per kg on the 16th.
- With tensions rising between the US and North Korea leading to a collapse in the US economy, demand for the metal increased and silver traded at Rs.39,530 per kg on the 17th.
- Silver rates fell to Rs.39,115 per kg on the 18th owing to a marginal decline in demand from industries.
- Silver traded at Rs.39,115 per kg for rest of the week, thanks to steady local demand regardless of other global cues.
August 2017 - Week 4 (21st-27th)
- Silver prices went up initially before dropping towards the end of the week.
- The week began with silver trading at Rs.39,115 per kg on the 21st.
- The rise in demand from industries and coin makers led the metal to be priced at Rs.39,265 per kg on the 22nd which continued onto the next day.
- Silver rates went up further to Rs.39,355 per kg on the 24th as investors increased their purchases to meet local demand.
- However, an uncharacteristic drop in local markets led to silver being priced at Rs.38,995 per kg on the 25th.
- The white metal traded at Rs.38,995 per kg until end of the week owing to steady demand.
August 2017 - Week 5 (28th-31st)
- The last week witnessed silver trade flourish as the US-North Korea conflict worsened during the week.
- On the 28th, silver traded at Rs.39,435 per kg.
- Silver rates hit a monthly high figure of Rs.40,190 per kg on the 29th as Hurricane Harvey took its toll on the US economy.
- Steady demand resulted in silver trading at Rs.40,190 per kg on the 30th as well.
- The month of August ended with the white metal trading at Rs.40,040 per kg on the 31st following a marginal reduction in demand.
|Parameters||Silver price (per kg)|
|July 1st Rate||Rs.38,640 per kg|
|July 31st Rate||Rs.38,640 per kg|
|Highest Rate in July||Rs.38,690 per kg on 3 July|
|Lowest Rate in July||Rs.36,035 per kg on 10 July|
|Overall Monthly Performance||No change|
July 2017 - Week 1 (1st to 9th)
- When trading began in Indore for the month of July, silver rates were recorded at Rs.38,640 per kg. This was due to a sustained demand from industrial units in the city.
- Prices dropped on the 5th to reach Rs.37,800 per kg as demand fell from investors.
- Rates decreased to Rs.37,115 per kg on the 7th and remained unchanged due to weak but steady demand from local parties.
July 2017 - Week 2 (10th to 16th)
- Due to demand bottoming out - silver reached its lowest rate for the month - Rs.36,035 per kg - on the 10th of July.
- However, as demand picked up slightly, silver prices went up to Rs.36,270 per kg and then to Rs.36,920 per gram on the 12th of the month.
- As there was a steady rise in demand during this week, silver prices went up to Rs.37,180 per kg on the 16th when the week ended.
July 2017 - Week 3 (17th to 23rd)
- The third and penultimate week of July saw silver prices fluctuate due to a shifting demand.
- On the 17th, the white metal was trading at Rs.37,180 per kg, which then increased to Rs.37,600 per kg on the 18th of July.
- As demand from industrial units and coin makers went up, silver prices increased to Rs.37,705 per kg the next day.
- Due to some positive global cues and local demand, prices went up to Rs.37,800 per kg on the 21st and increased again on the 22nd to trade at Rs.38,005 per kg.
July 2017 - Week 4 (24th to 31st)
- Silver prices fluctuated considerably during the last week of July.
- On the 24th of the month, silver prices were recorded at Rs.38,120 per kg which increased slightly to Rs.38,230 per kg on the 25th of July.
- The 27th saw silver rates reach Rs.38,690 per kg - which was the highest silver rate for the month.
- On the 29th, silver prices were recorded at Rs.38,460 per kg and increased to Rs.38,640 per kg on the last day of the month.
- Even though there were some significant ups and downs with regard to trading and demand, silver price trends remained unchanged in the city.
|June 1 Rate||Rs.40,285 per kg|
|June 30 Rate||Rs.38,995 per kg|
|Highest Rate in June||Rs.40,890 per kg on 7 June|
|Lowest Rate in June||Rs.38,455 per kg on 21 June|
|Overall Monthly Performance||Decline|
June 2017 - Week 1 (1st - 4th)
- Silver began trading at Rs.40,285 per kg when the month of June began.
- Prices, however, decreased to Rs.39,950 per kg as industrial offtake reduced and so did the demand from coin makers.
- Rates increased considerably to reach Rs.40,670 per kg - a Rs.720 increase - due to some positive signs in the bullion industry,
- Silver price in Indore remained at Rs.40,670 per kg as there was a sustained demand for the metal.
June 2017 - Week 2 (5th - 11th)
- Silver rate in Indore started at Rs.40,670 per kg on the 5th and remained unchanged on the 6th of June as well.
- The 7th saw silver rates hit a monthly high of Rs.40,890 per kg as global tensions increased and bullion rates took a leap all over the world.
- As the same amount of demand couldn’t be sustained, gold prices decreased on the 7th to reach Rs.40,725 per kg and then went down to Rs.40,285 per kg on the 9th.
- During the trading day on the 10th, silver prices decreased further to Rs.40,060 per kg and remained there till the end of the week on the 11th.
June 2017 - Week 3 (12th - 18th)
- Rates fell consistently during the third week of June as demand fell significantly as a direct impact of the US dollar strengthening.
- On the 12th of June, silver was priced at Rs.39,680 per kg, which then went down to Rs.39,435 per kg on the 13th.
- Silver price in Indore went down on the 14th - for the third consecutive day - to reach Rs.39,115 per kg but increased slightly to Rs.39,265 per kg on the 15th.
- After than unexpected increase the previous day, silver prices went on their downward path to go down to Rs.38,995 per kg.
- Over the last two days of June week 3 - i.e., the 17th and the 18th, gold prices 38,460 per kg.
June 2017 - Week 4 (19th - 25th)
- When the penultimate week of June began on the 19th, silver was trading at Rs.38,640 per kg - a Rs.180 increase from the previous day’s prices.
- Rates remained the same on the 20th, before decreasing to hit a monthly low of Rs.38,455 per kg - on the 21st of June.
- Prices went up slightly to Rs.38,460 per kg on the 22nd and gradually increased over the next couple days.
- The 23rd saw silver rate in Indore go up to Rs.38,690 per kg and then increase to Rs.38,925 per kg.
- When the week came to an end, silver rates in Indore were recorded at Rs.38,925 per kg.
June 2017 - Week 5 (26th - 30th)
- During the last week of June 2017, prices dropped and fell simultaneously, owing to a haphazard local demand.
- On the 26th, silver was priced at Rs.38,925 per kg, which then went down considerably to Rs.38,455 per kg on the 27th of June.
- The 28th saw price in Indore increase to Rs.39,115 per kg, which continued to remain the same on the 29th as well.
- On the last day of June 2017, silver prices fell marginally to reach Rs.38,995 per kg - marking a Rs.120 decline from the previous day’s rates.
- Silver rates in Indore fell at a rate of 3.20% in Indore due to a significant downturn demand which was spurred by weak global and domestic cues.
|May 1st Rate||Rs.40,040 per kg|
|May 31st Rate||Rs.40,060 per kg|
|Highest Rate in May||Rs.40,520 per kg on 30th of May|
|Lowest Rate in May||Rs.37,705per kg on the 10th and 11th May|
May ’17 – Week 1 (1st – 7th)
- Silver opened at Rs.40,040 per kg on the 1st of May in Indore. However, this rate was not sustained.
- Due to a fall in the demand for safe-haven bullion as a result of equities in Asia, silver rate was relatively low.
- The increase in the value of the U.S. Dollar as compared to the Japanese Yen resulted in a decline in the price of this metal.
- Silver was priced at Rs.39,115 per kg on the second day of the month before reducing to trade at Rs.38,925 per kg on May 3rd.
- A reduction in the demand for this precious metal from industrialists resulted in a decline in the price of this metal.
- The value of the U.S. Dollar increased resulting in a fall in the price of this precious metal. Silver traded at Rs.37,965 per kg on the 5th of the month which was the lowest rate of silver for the month.
- There was a reduction in the demand for this precious metal from coin makers and industrialists.
- However, as the week concluded, there was a marginal recovery in the rate of this metal with silver being priced at Rs.38,005 per kg on the 6th as well as the 7th of May on account of slow but sustained demand.
May ’17 – Week 2 (8th – 14th)
- Emmanuel Macron’s win in the French Presidential election resulted in the strengthening of the Euro which in turn had an impact on the rate of silver.
- On the 8th of the month, silver was priced at Rs.37,965 per kg but fell slightly the next day to be priced at Rs.37, 865 per kg as a result of varying demand for this precious metal.
- There were a number of variations noted in the rate of silver was the week progressed due to fluctuating demand from coin makers and industrialists.
- On the 10th and 11th of the month, silver was priced at Rs.37,705 per kg which was also the lowest at which silver traded during the month of May in the city of Indore.
- On the last day of the second week of May, silver was priced at Rs.37,865 per kg.
May ’17- Week 3 (15th – 21st)
- During the third week of May, it was noted that the demand for this metal increased as the value of the U.S. Dollar fell. This also meant, an increase in the rate of silver.
- Silver was priced at Rs.38,230 per kg on May 15th, and rose the next day to trade at Rs.38,640 per kg.
- After weak manufacturing data from the U.S. decreased expectations of interest rate hike by the U.S. Fed, the rate of silver inched higher.
- This metal traded at Rs.38,995 per kg on the 17th of May and rose to Rs.39,265 per kg on the 18th.
- As the demand for silver increased, the price of this metal increased to trade at Rs.39,115 per kg.
May ’17 – Week 4 (22nd – 28th)
- Due to variations in demand for this metal from international markets, the rate of silver fluctuated throughout the fourth week of May in Indore.
- Silver traded at Rs.39,265 per kg on the 22nd of May before increasing to be priced at Rs.40,040 per kg on the 23rd of May.
- As Asian stocks gained, the price of this metal started to slightly fall with silver trading at Rs.39,670 per kg on the 24th of May.
- A slight rise in the price of this precious metal saw this silver trading at Rs.39,950 per kg on the 25th and 26th of May due to steady demand from coin makers.
- The price of silver increased due to higher demand on the last two days of the fourth week with silver trading at Rs.40,190 per kg.
May ’17 – Week 5 (29th – 31st)
- Due to instability in markets, the price of silver varied during the final week of May in Indore.
- Easing Asian stock markets along with geopolitical issues resulted in a slight increase in the rate of silver.
- This metal traded at Rs.40,285 per kg on the 29th of the month before increasing to a monthly high of Rs.40,520 per kg on the 30th of May.
- On the last day of the month in Indore, silver was priced at Rs.40,060 per kg, recording an incline of 0.04% in the price.
|April 1st Rate||Rs.42,570 per kg|
|April 30th Rate||Rs.40,040 per kg|
|Highest Rate in April||Rs.43,055 per kg on 15th & 16th April|
|Lowest Rate in April||Rs.40,040 per kg on 29th & 30th April|
April ’17- Week 1 (1st to 9th)
- Silver prices in the first week of April were stable as demand was steady, with prices reflecting those of the last week of March.
- Silver traded at Rs.42,570 per kg on 1st April, with an increase in price seen due to higher demand from industrial units on account of a low U.S. Dollar.
- Regional demand was also high, as domestic markets fluctuated due to uncertainty over the effect of GST on essential commodities and its implications on the larger market.
- Silver prices continued to rise during the week, trading at a weekly high of Rs.42,775 per kg on 5th April before dropping marginally due to demand fluctuations.
- The week ended with silver trading slightly lower at Rs.42,640 per kg on 9th April.
April ’17 – Week 2 (10th to 16th)
- Prices fluctuated in the second week of April due to conflicting cues from the markets, though prices were maintained.
- Silver was priced at Rs.41,625 per kg on 10th April, falling significantly in early trading as industrial demand fell due to concern over the North Korean crisis.
- Demand soon rose, with silver trading at Rs.43,030 per kg on 14th April as coin makers also increased demand.
- A weak U.S. Dollar led to increased exports, which pushed prices to a monthly high of Rs.43,055 per kg on 15th & 16th April, resulting in silver ending the week strongly due to higher demand and favourable market conditions.
April ’17 – Week 3 (17th to 23rd)
- Prices dipped marginally as markets began to recover from the previous weeks’ slides, which reduced demand for silver.
- Silver was priced at Rs.43,030 per kg on 17th April, with prices falling to Rs.42,425 per kg on 19th April as U.S. markets rallied on positive data and no apparent fall-out from the missile crisis in North Korea.
- Industrial demand fell as the U.S. Dollar strengthened, making exports more expensive, especially to Asia, where markets fell heavily.
- Prices fell as the week ended, with silver trading at Rs.41,980 per kg on 23rd April due to a rise in the U.S. Dollar and declining demand leading to a drop in price.
April ’17 – Week 4 (24th to 30th)
- Silver prices in the last week of April continued to drop, as demand slowed in the face of resurgent markets and declining interest from Asian industry.
- Silver traded at Rs.41,625 per kg on 24th April amidst an overall slowing down of demand.
- Local demand also reflected prevalent trends, as markets were buoyed by positive international cues, though the Rupee fell against the U.S. Dollar.
- Prices fell to Rs.40.520 per kg on 26th April as European markets also rose as the Euro-centric Emmanuel Macron appeared to be leading in the run-up to the French presidential election.
- Silver dropped to Rs.40,040 per kg on 30th April as silver prices fell by 5.94% due to a sudden decline in demand and high market volatility.
|March 1st Rate||Rs.43,970 per kg|
|March 31st Rate||Rs.42,115 per kg|
|Highest Rate in March||Rs.44,100 per kg on 2nd March|
|Lowest Rate in March||Rs.40,040 per kg on 15th March|
March ‘17 - Week 1 (1st to 5th)
- Rate of silver in Indore was recorded at Rs.43,970 per kg on the 1st of March and fluctuations were in order for the remainder of the month.
- Silver rate in Indore increased by Rs.130 on the second to Rs.44,100 per kg, making it the highest rate of the metal recorded in March.
- Silver price in Indore reduced to a large extent on the 3rd of March due to a fall in the international demand for this precious metal and silver traded at Rs.42,730 per kg on that day.
- Rate of silver increased to Rs.43,295 on the 4th of March as demand started to pick up, and they remained stable on the next day as well to close the week at the aforementioned rate.
March ‘17 - Week 2 (6th to 12th)
- The rate of silver on the first day of the second week of March was Rs.42,925 – with no rise being recorded in from the price on the closing day of the first week of the month.
- Silver rate in Indore fell slightly the next few days due to decline in demand. They were recorded at Rs.42,570 per kg on the 7th of March, Rs.41,900 per kg on the 8th of March, and Rs.41,435 per kg on the 9th of March.
- A steep reduction on the 10th of March saw prices tumble to Rs.40,670 per kg, after which another decline saw rates drop to Rs.40,520 per kg on the 11th.
- Silver price in Indore remained constant on the last day of the second week of March due to consistent demand and the rate of silver on the last day of the week was Rs.40, 520 per kg.
March ’17- Week 3 (13th to 19th)
- The rate of silver on the first day of the third week of March was Rs.40,760 per kg thanks to a small incline in demand.
- Rates fell by Rs.320 on the second day of the third week and were recorded at Rs.40,440 per kg.
- On the 15th of March, prices fell to a monthly low as they touched Rs.40,040 per kg, after which an incline by Rs.850 saw them rise to Rs.40,890 per kg on the 16th.
- A marginal decline on the 17th saw prices fall to Rs.40,815 per kg and rates remained stable for the next three days, closing the third week of March at Rs.40,815 per kg.
March ’17- Week 4 (20th to 26th)
- This metal opened the second last week of the month at Rs.41,075 per kg, marking a small incline from the closing levels of the previous week.
- Rates fell by Rs.350 on the 21st of March and were recorded at Rs.40,725 per kg.
- On the 22nd of the month, prices rose marginally and were recorded at Rs.41,230 per kg.
- Due to an incline in demand, silver closed the penultimate week of March on a strong note as rates rose to Rs.41,340 before rising again and closing the seven-day period at Rs.41,435 per kg.
March ’17 – Week 5 (27th to 31st)
- Silver rate in Indore on the first day of the last week of March was recorded at Rs.41,900 per kg.
- An rise by Rs.215 on the second day of the last week of March saw prices rise to Rs.42,115 per kg, and stable demand ensured that prices remained the same on the 29th of the month as well.
- Prices rose by Rs.320 on the second last day of the month to settle at Rs.42,435 per kg, and a decline by the same amount on the last day of the month saw the metal close March at Rs.42,115 per kg.
|February 1st Rate||Rs. 42,520 per kg|
|February 28th Rate||Rs. 44,165 per kg|
|Highest Rate in February||Rs. 44,165 per kg on 28th February|
|Lowest Rate in February||Rs. 42,115 per kg on 3rd February|
February 2017 - Week 1 (1st -4th):
- On 1st of February, when trading for the month bega, silver was trading at Rs.42,520 per kg but went up to Rs.42,640 per kg, thanks to the sudden rise in industrial demand.
- The 3rd, however, saw silver prices decrease to hit the lowest for the month at Rs.42,115 per kg.
- At the end of the week on 4th, silver rates went up to Rs.42,355 per kg on 4th as prices seemed to go up slightly.
February 2017 - Week 2 (5th - 11th):
- When week 2 began on 5th, silver was still priced at Rs.42,355 per kg before increasing by Rs.165 to hit Rs.42,520 per kg.
- On 7th, prices increased again to reach Rs.42,930 per kg - an increase of Rs.410 per compared to the previous day’s price.
- Rates went down marginally to Rs.42,920 per kg on 8th but bounced back to finish the business day of the 9th at Rs.42,950 per kg.
- On 10th, prices hit the lowest for the week to reach Rs.42,375 per kg..
- Rates went up on the last day of week 2 to hit Rs.42,570 per kg as demand went up again.
February 2017 - Week 3 (12th - 18th):
- The third week of February saw gold prices fluctuate considerably.
- When trading began on 12th, silver was priced at Rs.42,570 per kg and increased considerably by Rs.710 to hit Rs.43,280 per kg on 13th.
- The 14th saw prices go down as whatever factors brought about the rise wasn’t there to be see again.
- The final three days of week 3 in Indore witnessed prices increase as demand went up.
- On 15th, silver was priced at Rs.43,385 per kg which later went up to Rs.43,520 per kg on 16th.
- Week 3 ended on 18th as silver rates declined to go down to Rs.43,400 per kg.
February 2017 - Week 4 (19th - 25th):
- Over the fourth week of February, silver prices still saw fluctuations despite the fact that trend was on the incline.
- When trading began on 19th, silver was trading at Rs.43,400 per kg but went down to Rs.43,270 per kg on 20th.
- Rates slightly increased on 21st to reach Rs.43,285 per kg but went down on 22nd to hit Rs.43,240 per kg.
- Prices went up on the 23rd to Rs.43,295 per kg and then to Rs.43,680 per kg on 24th.
- When the week ended on 25th, silver was seen trading at Rs.43,910 per kg.
February 2017 - Week 5 (25th - 28th):
- Rates were on the incline during the last week of February.
- When trading began on 25th, silver was priced at Rs.43,910 per kg and then increased to Rs.44,110 per kg on 27th.
- On the last day of February, silver was still priced at Rs.44,165 per kg.
- In Indore silver price trends increased by 3.86% compared to the pattern over the previous month.
|January 1st Rate||Rs.39,035 per kg|
|January 31st Rate||Rs.41,980 per kg|
|Highest Rate in January||Rs.42,180 per kg on 23rd January|
|Lowest Rate in January||Rs.39,035 per kg on 1st January|
January ‘17 - Week 1 (1st to 7th)
- Trends in both international and national markets were indicative of a rise in silver prices due to high demand.
- The price of silver on the 1st of the month was Rs.39,035 per kg and this was also the lowest at which silver was priced at for the entire month of January.
- There was a rise of Rs.30 in the price of silver the next day wherein silver was priced at Rs.39,065 per kg.
- The rate of silver steadily increased to trade at Rs.39,530 on the 3rd of January.
- Silver traded at Rs.40,285 per kg on 4th January as domestic demand shot up due to a low rate of U.S. Dollar.
- Rate of silver rose to Rs.40,670 per kg on 5th of January before reducing to Rs.40,435 per kg the next day. Price of silver on the 5th was the highest rate of silver for the first week of January.
- Silver traded at Rs.40,390 per kg on 7th January, registering a weekly increase of Rs.1,355 per kg.
January ‘17 - Week 2 (8th to 14th)
- The rate of silver in the second week of January also saw an increase due to continuing demand from coin makers and the industrial sector with silver opening the week at Rs.40,390 per kg on 8th January.
- Rates rose even further to trade at Rs.40,520 per kg on the 9th of January and continued the upward trend on the 10th as well with silver trading at Rs.40,815 per kg.
- Rate of silver increased to Rs.41,295 per kg on 11th January, and continued this way de to fluctuation in markets leading to a rise in the demand for silver. However, silver rate dropped slightly the next day.
- Silver traded at Rs.41,030 per kg on 13th January as a slight dip in demand led to prices falling.
- There was a marginal recovery as the week ended, with silver trading at Rs.41,230 per kg on 14th January to register a weekly increase in price of Rs.840 per kg. This increase in rate could be attributed to the harvest festival taking place in different parts of the country leading to a rise in the rate of silver.
January ’17- Week 3 (15th to 21st)
- Rate in the third week was subject to market fluctuations due to varying cues from international markets.
- Silver traded at Rs.41,230 per kg on 15th January and increased to Rs.41,560 per kg the next day on steady demand.
- Prices traded at Rs.41,990 per kg on 18th January as the value of the U.S. dollar reduced.
- Rates steadied in the next few days, as silver traded at Rs.41,675 per kg on 20th January.
- At the end of the week, silver traded at Rs.41,930 per kg on 21st January.
January ’17- Weeks 4 & 5 (22nd to 31st)
- Silver was steady at the start of the fourth week due to consistent demand but varied later due to the market.
- Silver traded at Rs.41,930 per kg on 22nd January, before rising to Rs.42,180 per kg on 23rd January due to a spike in the demand.
- Prices steadied over the rest of the week, as demand reduced slightly with silver trading at Rs.41,835 per kg on 25th January.
- A drop in industrial demand from Asia led to silver prices falling to Rs.41,075 per kg from 27th-29th January.
- Prices increased as the month ended, with silver trading at Rs.42,010 per kg on 30th January.
- Reduction in demand led to silver trading at Rs.41,980 per kg on 31st January to record an overall increase of 7.54%.
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|