Silver Rate in Jaipur

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Silver Price in Jaipur

In the traditional sense, buying precious metals like silver or gold meant buying jewelry that’s made of gold or silver. Buying silver in Jaipur wasn’t often thought of as an investment, but it is now coming into the limelight as a tradable commodity that rises in value depending on market trends. With internet access being made available to nearly everyone, market prices, fluctuations, news and factors that affect the price of silver can be tracked, measured and used to earn a profit.

Jaipur, the “Pink City”, is an ancient city which is now home to over 3 million people. With the largest SEZ in the country and a growing population of highly educated young adults, the city and its population are perfectly poised to make full use of the benefits of investing in silver as a commodity.

Trend of Silver Rate in Jaipur for June 2020 (rates per kg)

• In Jaipur, the price of the metal opened the month of June at Rs.50,120 per kg and showed an overall declining trend with risk appetite amongst investors increasing. With the markets reopening for business, the price of the metal showed continuous declines after hitting its highest on 2 June at Rs.50,160 per kg.
• By the middle of the month, the price of the metal dipped and hit its lowest at Rs.47,110 per kg on 16 June and the price of the metal fluctuated heavily after.
• In the second half of the month, silver prices, due to subdued demand and the rising number of COVID-19 cases in the country, showed fluctuating prices and closed the month at Rs.48,510 per kg on 30 June with an overall percentage decline of 3.21.

Trend of Silver Rate in Jaipur for May 2020 (rates per kg)

• Opening the month at Rs.42,530 per kg on 1 May, silver prices in the city of Jaipur showed an overall incline due to its safe-haven appeal amidst investors increasing in the month with tensions rising between China and the United States of America. The price of the metal dropped significantly on 2 May to Rs.41,010 per kg due to increased risk appetite amongst investors with a strong dollar value in the international market and the ease of lockdown restrictions all over the world. On 3 May, the price of silver was Rs.41,210 per kg, increasing by Rs.200 per kg and further to be priced at Rs.42,220 per kg on 4 May. With investor risk appetite fluctuating and shifting towards the equities market due to strong data from Japanese equities, the price of the metal dipped 41,310 per kg on 6 May. However, the metal recovered marginally by the end of the week, closing at Rs.42,010 per kg on 7 May.
• The price of the metal, opening the second week of the month was Rs.42,060 per kg on 8 May, increasing marginally by Rs.60 per kg. On 9 May, silver prices surged to Rs.43,510 per kg, increasing by more than Rs.1,000 per kg. With investors shifting away from riskier assets, fearing a possible second wave of COVID-19 cases all over the world, silver prices increased and were Rs.43,620 per kg on 11 May. The price of the metal dipped in the second half of the week, at Rs.43,090 per kg on 12 May and further decreasing to Rs.42,950 per kg on 13 May. With a struggling dollar, silver prices held steady, increasing marginally to Rs.42,960 per kg on 14 May and closing the week at Rs.43,160 per kg on 15 May, with an increase of Rs.300 per kg.
• In the third week of the month, silver prices showed a positive trend at the beginning of the week, opening at Rs.46,900 per kg on 16 May and then dipping marginally to Rs.46,710 per kg on 17 May. Tensions between China and the United States of America made investors focused on the bullion market and stay away from riskier assets. On 18 May, the price of the white metal increased to Rs.46,720 per kg and further increasing to Rs.48,510 per kg on 19 May. With the dollar value keeping risk appetite of investors at bay, the price of the precious metal dipped to Rs.47,670 per kg on 20 May, decreasing by Rs.840 per kg. The price of the metal increased yet again on 21 May, with tensions between Washington and Beijing increasing and investors awaiting the response of the White House regarding Hong Kong. The metal closed the third week of the month at Rs.48,350 per kg on 23 May.
• Opening the last week of the month at Rs.48,360 per kg on 24 May, with a marginal incline in prices compared to the previous week’s closing, silver prices showed constant fluctuations. On 25 May, the precious metal hit its highest price of the month and week at Rs.51,400 per kg, However, on 26 May, the price of the metal dipped substantially due to profit booking from investors, at Rs.48,000 per kg. Increasing marginally to Rs.48,700 per kg on 27 May, with decreased risk appetite, the price of the metal dipped yet again on 28 May, to Rs.47,910 per kg and remained the same on 29 May as well. With riots taking place all over the United States of America and trade tensions increasing between China and the U.S., the price of the metal increased to Rs.48,560 per kg and closed the month and the week at Rs.50,100 per kg on 31 May. The white metal recorded a percentage incline of 17.79 at the end of the month.

Also Check Silver Price in Metro Cities

Trend of Silver Rate in Jaipur for April 2020 (rates per kg)

• With constant fluctuations in bullion prices in the international market, silver prices in Jaipur opened the month of April at Rs.40,500 per kg on 1 April and held steady for 4 continuous days. With the country on lockdown and bullion trading centres shut to prevent the spread of COVID-19, the price was stagnant at Rs.40,500 per kg until 5 April. However, due to various global factors such as the rise in the value of the dollar in the international market, the price of the metal on 6 April dipped and was at Rs.40,360 per kg, increasing marginally by Rs.10 to Rs.40,370 per kg on the last day of the week. The price of the metal showed marginal inclines due to the price of the dollar in the international market prompting investors to shift to the stock market with increased risk appetite.
• The second week of April saw silver prices increase gradually, opening at Rs.41,290 per kg on 8 April. The rise in prices was due to uncertainty amongst investors along with the rise in new COVID-19 cases all over the world. On 9 April, a kilogram of silver was priced at Rs.40,960 per kg and increased marginally to Rs.41,000 per kg on 10 April. The price of the metal increased by Rs.100 to be priced at Rs.41,100 per kg on 11 April and held steady on 12 April. The gradual rise in prices was due to mixed trends in bullion prices in the international market. On 14 April, the price of the metal increased substantially to Rs.41,310 per kg and further to Rs.41,920 per kg on 15 April. The rise in prices of silver was due to investors shifting back to the bullion market with lower risk appetite and with the increasing trend of COVID-19 cases all over the world. At the end of the week, the metal closed at Rs.41,860 per kg on 16 April.
• Silver prices opened the third week of the month on 17 April at Rs.41,900 per kg, however, the price of the metal declined rapidly to Rs.41,210 per kg on 18 April with possible reports of vaccines to treat COVID-19. With a higher risk appetite, investors shifted to the stock market, resulting in the dipping of silver prices. On 19 April, a kilogram of silver was priced at Rs.41,160 per kg and increased to Rs.41,170 per kg on 20 April. However, with the reports of a possible vaccine fading away, the price of the metal hit its highest of the week and the month at Rs.42,710 per kg on 21 April with investors shifting back to the bullion market with lower risk appetite and higher safe-haven demand. On 22 April, silver was priced at Rs.41,660 per kg and decreased further to Rs.41,420 per kg on 23 April. Silver ended the week on 24 April and was priced at Rs.42,430 per kg.
• The metal showed an inclining trend at the beginning of the last week of the month, opening on 25 April at Rs.42,540 per kg, increasing by Rs.110 per kg compared to previous week’s closing. The metal, on 26 April was priced at Rs.42,600 per kg and increased to Rs.42,610 per kg on 27 April. The rise in prices was majorly due to higher safe-haven demand of the metal. However, at the end of the week, silver prices began faltering yet again with speculations of easing lockdown restrictions in many countries all over the world. With talks of opening essential businesses, risk appetite amongst investors increased and the price of the metal went down. On 29 April, the price of silver was Rs.41,510 per kg and closed the month at Rs.41,520 per kg on 30 April, recording a percentage incline of 2.51.

Trend of Silver Rate in Jaipur for March 2020 (rates per kg)

• In Jaipur, silver opened the month of March priced at Rs.47,400 per kg. With the gradual and fast-paced increase in the cases of COVID-19 all over the world, the economy had been greatly affected and so was the bullion market. In the first week of the month, the metal recorded a marginal rise in prices from Rs.47,400 per kg to be priced at Rs.50,100 per kg on 4 March. The metal even hit its monthly high on 6 March at Rs.50,700 per kg. The rise in prices of silver was majorly due to investors shifting to the bullion market for safe-haven while waiting for the interest rate cut by the United States Federal Reserve. At the end of the week, the price of the metal was Rs.50,500 per kg.
• Silver prices were hit majorly in the second week of the month. With the increasing effect of COVID-19 all over the world and on the economy, investors in panic started to hoard cash by selling their assets. With many countries in lockdown and trade stopped, traders shifted to cash to survive this period of time. Due to this, the metal opened the second week of the month at Rs.50,500 per kg and by 12 March, the metal’s prices had dipped by almost Rs.2,000 per kg to Rs.48,600 per kg. Increasing further with heavy selling of assets, the white metal’s prices dipped further and closed the second week of March at Rs.44,000 per kg on 15 March.
• The third week of March saw silver prices being hit in a major way. As countries went into lockdown trade in the country had completely stopped along with the international bullion market. Investors shifted to cash completely with an increasing number of cases of the virus hit the United States of America. The price of the metal on 16 March was Rs.43,200 per kg and decreased throughout the week. By 19 March, the white metal had hit its lowest price of the month at Rs.37,800 per kg. However, with India going into lockdown for 21 days, trading was off and with investors shifting to the bullion market temporarily, the price of the metal increased marginally.
• Opening the last week of the month at Rs.40,500 per kg, the price of the metal remained steady until the end of March. With major trading floors off and with little no activity in the physical market, there were no rise or falls in the price of the metal. After opening at Rs.40,500 per kg on 25 March, the precious metal’s prices remained the same and closed at Rs.40,500 per kg on 31 March recording an overall monthly decline of 14.5.

Trend of Silver Rate in Jaipur for February 2020 (rates per kg)

• Jaipur saw a declining trend in silver prices in the month of February. The metal opened the month at Rs.50,300 per kg on 1 February and had dropped by Rs.700 per kg by 5 February itself to be priced at Rs.49,600 per kg. This was majorly due to China liquidating funds and cutting down the reverse repo rates in the country to help float their economy. The price of the metal increased again due to increased fears with a greater number of cases of the virus being reported in the world.
• After increasing marginally to Rs.49,900 per kg by 10 February, silver prices in the city fluctuated through the second week of the month. With reports of new cases of the virus every day, investors shifted to the bullion market amidst lower risk appetite and increased safe-haven demand. The price of the white metal increased to Rs.50,000 per kg on 15 February. However, the prices had dipped marginally in the week when it was reported that the number of new cases of the virus had decreased.
• In the third week of February, silver prices in the city saw an incline with South Korea reporting fresh new cases along with a rise in the number of deaths due to the virus. Traders shifted to the bullion market quickly amidst the fears, thus increasing the demand for the metal. On 20 February, the price of the metal was Rs.52,100 per kg and had increased to Rs.52,900 per kg by 24 February.
• However, due to silver’s higher prices and constant fluctuation investors took to profit booking which was the primary reason for the monthly decline. With the profit booking, silver prices in the city and country dipped drastically. At the end of the month, the metal closed at a low price of Rs.47,400 per kg on 29 February with an overall decline of 5.76%.

Trend of Silver Rate in Jaipur for January 2020 (rates per kg)

• The rates of silver opened the month of January at Rs.50,300 per kg in Jaipur. The rates of the metal were down by Rs.600 per kg when compared to the previous month’s closing price.
• Due to the ongoing tensions between the United States and Iran, the rates of the white metal touched the highest for the month on 8 January. A kilogram of silver was retailed for Rs.52,600 in the city.
• Following this, the rates of silver fluctuated considerably as investors were concerned about the demand for the metal. This was accounted to the outbreak of coronavirus in China and geopolitical tensions in the Middle East.
• Silver closed the month at Rs.50,200 per kg after slipping to its lowest for the month on 30 January as the World Health Organization declared the deadly virus as a global epidemic. The overall performance of the white metal in Jaipur was -0.19%, trending downwards.

Also Check Silver Price in NearBy Cities of Jaipur

Investing in Silver in Jaipur

Silver coins – It is important to ensure that your silver is embossed, marked, stamped or engraved in some way that certifies its purity and the fact that it is real silver. A certificate is also usually issued along with your silver. The coins can be bought in weights from 10 grams to 500 grams. The corresponding risk and reward is marginally lesser because the amount and weight of silver being held is in a lesser quantity.

Silver bullion – It is for those who wish to invest in quantities larger than coins, in the form of bars and tablets that range from 500 grams up to 5 kilos. Investing in larger quantities is marginally cheaper, and the silver bullion in your possession will appreciate or depreciate, bringing with it greater risk and reward, as it being held in a larger physical quantity. Bullion bars are also sometimes embossed with serial numbers, which makes it hard to counterfeit them.

Silver coins and bullion can be sold to a merchant immediately for up to 75% of its value in the market at that particular date, and can be held for longer periods of time to ensure a higher price. In this way, it can be collected and used as a safety net that appreciates over time. Collectors and those not proactively involved in managing their silver investment portfolio chose this option, as the silver passively increases its own value.

Silver jewelry – It is among the most expensive forms of silver available, as it incurs a 10% making charge and a 15% melting charge at the time of sale. It is the most popular form of silver bought and sold in India. It is bought and either held for its craftsmanship, or given as a gift during one of the many festivals and marriages that require the purchase or gifting of precious metals as assets with aesthetic appeal.

Banks also sell silver, and this is a highly secured form of owning the precious metal. Banks like ICICI, HDFC, Kotak, etc. will always give you the purest form of certified silver, but at a price that’s usually higher than the current market rate. These silver bars and tablets are imported from international mints and certification authorities, and hence cost more.

The silver rate fluctuates due to many market forces like inflation, demand and supply, movements in the stock market, etc. The price of silver in Jaipur has remained more or less constant over the last few months, staying between Rs.37 and Rs.42 per gram, and is more stable than gold. Detailed study of the fluctuations in prices and the reasons for the same can be used to your advantage as an investor.

Buying Silver in Jaipur

One can buy silver coins, bars and bullion in many retail outlets across Jaipur Thewa Jewellery, Kundan Jewellery, R K Silver Emporium, Arya Silver Art, B L Jewellers, Silver Jewellery (Jaipur), and a number of merchants around the city.

When buying silver in Jaipur, it is highly recommended that you buy from a well-established and certified dealer. Ensure that the silver is marked, stamped, engraved or in some way certified and determined to be authentic silver of established purity. Ensure that you also get a certificate of authenticity which contain details of weight, amount purchased, purity and current rate.