Silver Rate in Jammu and Kashmir

  • Today's Silver Rate In Jammu and Kashmir ( 15 Aug 2020 )

    ₹ 66.95
    Today's Silver Rate per gram

    Compare Silver Rate In Jammu and Kashmir (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Silver (1 gram) ₹ 66.95 ₹ 65.01 ₹ 1.94 ↑
    Bar Silver (1 Kg) ₹ 66,950 ₹ 65,010 ₹ 1,940 ↑

    Silver Price In Jammu and Kashmir for Last 10 Days

    Date Silver (1 gram) Bar Silver (1 Kg)
    14 Aug 2020 ₹ 66.95 ₹ 66,950
    13 Aug 2020 ₹ 65.01 ₹ 65,010
    12 Aug 2020 ₹ 72.55 ₹ 72,550
    11 Aug 2020 ₹ 75.16 ₹ 75,160
    10 Aug 2020 ₹ 74.22 ₹ 74,220
    09 Aug 2020 ₹ 74.21 ₹ 74,210
    08 Aug 2020 ₹ 76.52 ₹ 76,520
    07 Aug 2020 ₹ 73.51 ₹ 73,510
    06 Aug 2020 ₹ 71.51 ₹ 71,510
    05 Aug 2020 ₹ 65.06 ₹ 65,060

    Weekly & Monthly Graph of Silver Rate in Jammu and Kashmir

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    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Silver Rate in Jammu and Kashmir

    Jammu and Kashmir, the state which is known as “Heaven on Earth” might have had a tumultuous past, but recent times have seen the state develop and grow steadily. A laidback lifestyle and unique cultural identity have made it hold its own, enticing the whole world with its beauty. Silver is viewed as an intrinsic part of the lifestyle here, being used for multiple purposes, from utensils to adornments. Given that silver is not produced here, J&K depends on silver imported from different parts of the world to meet local demands. Silver prices in the state thereby depend on multiple factors, changing on a daily basis.

    Trend of Silver Rate in Jammu and Kashmir for July 2020 (rates per kg)

    Parameters Silver Price (per kg)
    July 1 Rate Rs.48,560 per kg
    July 31 Rate Rs.63,010 per kg
    Highest Rate in July Rs.66,060 per kg on 30 July
    Lowest Rate in July Rs.48,510 per kg on 5 July
    Overall Monthly Performance Incline
    Percentage Change 29.75%

    Trend of Silver Rate in Jammu and Kashmir for June 2020 (rates per kg)

    Parameters Silver Price (per kg)
    June 1 Rate Rs.50,120 per kg
    June 30 Rate Rs.48,510 per kg
    Highest Rate in June Rs.50,160 per kg on 2 June
    Lowest Rate in June Rs.47,110 per kg on 16 June
    Overall Monthly Performance Decline
    Percentage Change -3.21%

    Trend of Silver Rate in Jammu and Kashmir for May 2020 (rates per kg)

    Parameters Silver Price (per kg)
    Rate on May 1 Rs.42,530 per kg
    Rate on May 31 Rs.50,100 per kg
    Highest Rate in May Rs.51,400 per kg on 25 May
    Lowest Rate in May Rs.41,010 per kg on 2 May
    Overall Monthly Performance Incline
    Percentage Change 17.79%
    • In the month of May, silver opened in Jammu and Kashmir at the rate of Rs.42,530 per kg. Soon after, it witnessed a dip and stood at the rate of Rs.41,010 per kg on the very next day. However, it started picking up as the week went by, closing the week at the rate of Rs.42,010 per kg. These fluctuations could be attributed to several factors, including the investors liquidating their long positions on the back of several economic stimulus packages released by governments across the world to very little US jobs data that highlighted the grim economic situation. These things led to the gains for silver as a safe-haven investment in such unpredictable times. The jump in prices of silver were also due to the rising tensions in regard to the tiff between the USA and China with Trump threatening new tariffs on China that rattled the stock market. However, the dollar remained firm, which led to prices of silver remaining steady overall in the first week of May in Jammu and Kashmir.
    • In the second week of May in Jammu and Kashmir, silver opened at the rate of Rs.42,060 per kg which was an increase from the previous week’s closing price. However, the prices continued to rise as the week passed by and even touched the rate of Rs.43,620 per kg on 11 May. Soon after, it also dipped by the end of the week where it stood at the rate of Rs.42,960 per kg. The dip in prices was in response to optimism around the stock market picking up with several world economies opening up again after the lockdowns that lasted for weeks. These lockdowns had affected the economic activities severely. The rise in prices were in response to fears around a fresh wave of coronavirus infections in such countries that led to more interest in precious metals as a safe-haven investment, especially if the economy was being so unpredictable and recovery seeming to be more in the long haul now.
    • The precious white metal continued to rise steadily through the third week of May in Jammu and Kashmir, with the price rising to as high as Rs.48,510 per kg on 19 May. The week started with the prices standing at the rate of Rs.43,160 per kg and ended the week standing at the rate of Rs.48,200 per kg. Investors continued to flock to precious metals as a safe-haven investment in light of the coronavirus pandemic showing up in a second wave in many countries where there was optimism around the lockdown being lifted. The US-China tensions and possible new tariffs being imposed on China by the US led to more fears of a worsening trade war which made stock markets and equities even less appealing. All these factors contributed to the steady increase in prices of silver through this week.
    • In the last week of the month, the prices of silver had hit the highest for the month on 25 May wherein it stood at the rate of Rs.51,400 per kg. The week ended with the price of the metal standing at the rate of Rs.50,100 per kg. This was a steady increase from the start of the week when it was Rs.48,250. The rising trade tensions between China and USA and the anticipation around Trump’s response to the Hong Kong riots triggering the Chinese government led to lower risk appetite and a higher appeal for safe haven investments. The trend of silver prices in Jammu and Kashmir in the month of May witnessed an overall and a steady incline of 17.79%.

    Trend of Silver Rate in Jammu and Kashmir for April 2020 (rates per kg)

    Parameters Silver Price (per kg)
    April 1 Rate Rs.40,500 per kg
    April 30 Rate Rs.41,520 per kg
    Highest Rate in April Rs.42,710 per kg on 21 April
    Lowest Rate in April Rs.40,360 per kg on 6 April
    Overall Monthly Performance Incline
    Percentage Change 2.51%
    • The price of metal for the month of April increased by 2.51%. Silver prices stood at Rs.40,500 per kg. This was the price of one kilogram of the white metal for five days. From the first five days of the month, Jammu and Kashmir saw the rates of silver remain steady at Rs.40,500 per kg. However, on the sixth day of the month, silver had touched the lowest price for April at Rs.40,360. The drop in the price of the white metal was due to the strengthening of the U.S. dollar and global equities. The fall in the number of deaths due to Coronavirus also played a role in the fall of the silver prices. Many investors across the world had started to hedge risks ahead of a long May Day weekend followed by the meeting of a few top oil producers who wanted to stem the market slump by working towards improving the risk sentiment and hoping the coronavirus would soon come to an end.
    • Global market performance instilled fears of a global economic recession led by the wide-spread coronavirus. This led to the increase in the price of the white metal as investors turned towards safe havens such as silver. Weak manufacturing data released by the U.S. and the low retail sales also played a role in traders moving away from riskier assets.
    • By the second week of April, silver prices again began to surge, remaining at Rs.41,100 for three consecutive days as the long weekend loomed ahead of the Good Friday holiday. There was also an easing of the US dollar, as the US Federal Reserve released the stimulus measures in response to the coronavirus pandemic, the OPEC meet, and increasing worries about the global economy delaying to get back to normal very slowly as Covid-19 continued to force the economy to struggle. This led the investors to turn to precious metals as a safe haven investment in the face of increasing volatility around the economy and equities which helped to keep prices steady.
    • By the third week of the month, prices remained unsteady, with the highest price point for the month of April being Rs.42,710 per kg on 21 April. The rise was driven by fears of a global recession continuing while Trump’s announcement of the economy reopening helped to drive prices down.
    • By the end of the month, prices of oil fell drastically, leading to further volatility in equities which led to a steadying of prices of the white metal as investors looked to it as a safer option. Overall, the trend for silver in the month of April was an incline with a percentage change of 2.51%.

    Trend of Silver Rate in Jammu and Kashmir for March 2020 (rates per kg)

    Parameters Silver Price (per kg
    March 1 Rate Rs.47,400 per kg
    March 31 Rate Rs.40,500 per kg
    Highest Rate in March Rs.50,700 per kg on 6 March
    Lowest Rate in March Rs.37,800 per kg on 19 March
    Overall Monthly Performance Decline
    Percentage Change -14.55%
    • In Jammu and Kashmir, Silver opened at a rate of Rs.47,400 per kg for the month of March. In light of the COVID-19 virus turning into a pandemic, precious metals came up as a safe haven investment for most investors.
    • The price of silver continued to rise into the second week of March with the highest rate for the month being recorded on 6 March when it stood at the rate of Rs.50,700 per kg. This was set to be the biggest weekly gain in almost 11 years.
    • The price of the white metal dropped to the lowest and stood at Rs.37,800 per kg on 19 March. The price of the precious metal witnessed a constant drop owing to the fact that the US Dollar kept rising.
    • The overall monthly performance for silver in March in Jammu and Kashmir witnessed a decline with a percentage change of –14.5%.

    Trend of Silver Rate in Jammu and Kashmir for February 2020 (rates per kg)

    Parameters Silver Price (per kg)
    February 1 Rate Rs.50,300 per kg
    February 29 Rate Rs.47,400 per kg
    Highest Rate in February Rs.52,900 per kg on 24 February
    Lowest Rate in February Rs.47,400 per kg on 29 February
    Overall Monthly Performance Decline
    Percentage Change -5.76%
    • In Jammu and Kashmir, the prices of Silver were recorded to be Rs.50,300 per kg. The investors looked to invest in the safe-haven due to the outbreak of Corona Virus in China as there were serious global growth concerns which ultimately impacted the markets negatively. The outbreak of Corona Virus prompted the investors to turn to investing in Silver.
    • Silver prices in Jammu and Kashmir recorded its highest on 24 February 2020 at Rs.52,900 per kg after World Health Organisation declared Corona Virus as a global epidemic after news regarding the spreading of disease in six more countries. This prompted the traders to invest more aggressively in safe-havens and stay away from riskier assets.
    • The price of Silver fell to its lowest on 29 February 2020 and was computed to be at Rs.47,400 as the news of Corona Virus spreading in different parts of the globe forced the investors to liquidate their assets and stock on cash.
    • As Corona Virus continues to impact the global markets negatively, the overall trend of Silver declined by 5.76% in the month of February.

    Trend of Silver Rate in Jammu and Kashmir for January 2020 (rates per kg) 

    Parameters Silver Price (per kg)
    January 1 Rate Rs.50,300 per kg
    January 31 Rate Rs.50,200 per kg
    Highest Rate in January Rs.52,600 per kg on 8 January
    Lowest Rate in January Rs.49,200 per kg on 30 January
    Overall Monthly Performance Decline
    Percentage Change -0.19%
    • For the month of January, Silver opened at Rs.50,300 per kg. The rates of the white metal fell by Rs.600 per kilogram when compared to the rates charged on the last day of for the month of December.
    • The silver rates increased over the first week and touched the highest for the month on 8 January when every kilo of the white metal cost Rs.52,600 in the state.
    • The demand for silver fluctuated during the month due to the outbreak of Corona Virus in China. With the dollar also falling in value, the rate for silver dwindled due to escalating tensions in the Middle East and concerns regarding the trade deal between Washington and Beijing.
    • Silver closed the month at Rs.50,200 per kg after reducing to its lowest for the month the previous day. The overall performance of the white metal in Jammu and Kashmir was -0.19%, trending downwards.

    Silver as an investment

    Silver has been used for centuries, being passed down from generation to generation in Jammu and Kashmir. The affordability of silver makes it ideal for individuals who are just beginning their investment journey, providing them an excellent opportunity to invest in a time tested metal. A high demand coupled with limited resources make silver a smart investment, with its versatility ensuring there are always buyers for it.

    Physical Silver – Silver in the form of jewellery, coins, bars, utensils, statues, etc. are some of the popular artefacts in Jammu and Kashmir. These can be purchased at jewellers across the state and serve dual purposes, acting as a utility element and as an investment. Silver jewellery is often not ideal, if viewed only from the investment purpose, given the fact that there are a lot of making and wastage charges involved. Coins can be purchased from banks and jewellers, with the ones purchased from banks coming with quality assurance and purity certificates, making them more expensive. These artefacts can be pledged or sold for immediate cash, making them ideal during emergencies.

    Silver Contracts – New to most people in the state, silver contracts and futures are modern ways to invest in this precious metal. The National Multi Commodity Exchange, the Multi Commodity Exchange and the National Commodity and Derivatives Exchange offer platforms for people to participate in silver trade. This option to invest in silver comes with a certain element of risk attached and a good knowledge about how markets function can be a huge advantage.

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