*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.
- Also Know: Gold Rate In Jammu And Kashmir
Trend of Silver Rate in Jammu and Kashmir for September 2018 (rates per gram)
| Parameters | Silver price (per kg) |
| September 1 Rate | Rs.40,000 per kg |
| September 30 Rate | Rs.41,200 per kg |
| Highest Rate in September | Rs.41,200 per kg on 29 and 30 September |
| Lowest Rate in September | Rs.39,500 per kg on 5, 7, 15-16 September |
| Overall Monthly Performance | Incline |
| Percentage Change | 3% |
Trend of Silver Rate in Jammu and Kashmir for August 2018 (rates per kg)
| Parameters | Silver price (per kg) |
| August 1 Rate | Rs.41,400 per kg |
| August 31 Rate | Rs.40,300 per kg |
| Highest Rate in August | Rs.41,400 per kg on 1 and 9 August |
| Lowest Rate in August | Rs.39,800 per kg from 24 August |
| Overall Monthly Performance | Decline |
| Percentage Change | -2.65% |
August 2018 - Week 1 (1 - 05):
- Week 1 commenced with silver being priced at Rs.41,400 per kg, the highest the metal was priced for August 2018.
- On 4 August, silver in Jammu and Kashmir rose by Rs.200 per kg. High demand from domestic jewellers and industries increased as silver stood at Rs.41,300.
- Week 1 ended with silver trading at Rs.41,300 per kg. The price of the metal was unaffected by the incline in demand for the same.
August 2018 - Week 2 (6 - 12):
- Silver traded at Rs.41,300 per kg in Jammu and Kashmir at the start of week 2.
- Silver was recorded at Rs.41,400 per kg on 9 August. The decline in price can be linked to to the fall of the dollar in comparison to other currencies. The price of silver was at its peak on this day.
- A small decline in the value of silver was recorded at the end of week 2 as it was priced at Rs.41,200 per kg.
August 2018 - Week 3 (13 - 19):
- The price of silver remained unaltered as the month of August rolled into week 3.
- The stability in price didn't last long as silver dipped to Rs.39,900 per kg on 16 August. This was influenced by the US economy recording a positive trend post the release of their employment data.
- Week 3 ended with a slight increment in the silver price as it traded at Rs.40,000 per kg.
August 2018 - Week 4 (20 - 26):
- Silver price in Jammu and Kashmir stood stagnant from the end of week 2 as it still remained at Rs.40,000 per kg on 20 August.
- The dollar, in comparison to other currencies increased in value on 23 August as silver dipped in value. The state experienced a decline in the price of silver as it stood at Rs.39,900.
- Week 4 ended with silver being priced at Rs.40,200 per kg.
August 2018 - Week 5 (27 - 31):
- The fifth week started off with silver being priced the same as it did at the end of week 4.
- Demand for the metal then increased during the course of week 5, causing the price of the metal in Jammu and Kashmir to increase as well.
- The state recorded a declining trend of -2.65% with regard to the silver price. At the end of the month, the metal traded at Rs.40,300 per kg.
Trend of Silver Rate in Jammu and Kashmir for July 2018 (rates per kg)
| Parameters | Silver price (per kg) |
| July 1 Rate | Rs.42,800 per kg |
| July 31 Rate | Rs.41,400 per kg |
| Highest Rate in July | Rs.42,900 per kg on 9 and 10 July |
| Lowest Rate in July | Rs.41,200 per kg on 28 and 29 July |
| Overall Monthly Performance | Decline |
| Percentage Change | -3.27% |
July 2018- Week 1 (1-10)
- On 1 July 2018, silver rates stood at Rs.42,800 per kg in Jammu and Kashmir.
- Within the next two days, a slight drop in silver prices was recorded as the metal dropped by Rs.400 per kg and traded at Rs.42,400 per kg on 3 July 2018. The fall in silver rates was mainly due to the fall in demand for the metal from industrial units and coin makers.
- Silver prices managed to restore back and hit Rs.42,800 per kg mid-week. Demand from industrial units and coin makers play an important role in the price of silver. As demand picked up, silver rates saw an increase.
- On 9-10 July, the highest silver price of Rs.42,900 per kg for the month of July was recorded.
- The increase in silver rates during the last two days of the week can be attributed to positive market trends and the declining US dollar rate over all other currencies.
July 2018- Week 2 (11-17)
- On 11 July 2018, silver prices stood at Rs.42,600 per kg. A drop of Rs.300 per kg was recorded from the previous day. Apart from a fall in demand, no other significant changes in external factors were noted.
- The price of silver is directly proportional to the demand for the metal. As the demand for silver from coin makers and industrial units fell, the price of silver fell gradually during week 2 of July in Jammu and Kashmir.
- Silver prices dropped continuously throughout the week.
- Silver prices dipped further as the demand for the metal fell. The price of silver from 12 - 14 July stood at roughly Rs.42,200 per kg.
- Though a slight increase in silver rates was noted on 16 July 2018 when the metal traded at Rs.42,300 per kg, it did not remain stable as the prices quickly dropped.
- There was a decline in the US dollar value during the last few days of the week, but it did not affect silver rates much.
- Silver dropped further and stood at Rs.42,100 per kg on 17 July.
July 2018- Week 3 (18 - 24)
- On 18 July 2018, silver was priced at Rs.41,700 per kg in Jammu and Kashmir.
- Silver rates dropped by Rs.400 per kg compared to the previous day mainly due to poor demand.
- Throughout the month of July, no significant external factors affected silver rates negatively. Demand was the only reason silver rates fell throughout this week.
- On 20 July 2018, the price of silver further dipped to Rs.41,300 per kg. However, this could be due to a rise in the US dollar value.
- Silver rates between 21 - 22 July stood at Rs.41,700 per kg. Though the prices slightly picked up on 21 and 22, the rates quickly fell to Rs.41,400 per kg on 24 July.
July 2018- Week 4 (25 - 31)
- On the first day of the week i.e., 25 July 2018, an increase of Rs.100 per kg was recorded. Silver opened at Rs.41,500 per kg.
- On 26 July, the rate of silver increased by Rs.300 per kg and traded at Rs.41,800 per kg as the demand for the metal picked up.
- The price of silver stood at Rs.41,200 per kg as on 28 - 29 July. This was also the lowest silver price recorded for the month.
- By the end of the month, the price of silver increased as US dollar rates dropped slightly. The metal stood at Rs.41,400 on 30 - 31 July.
- Overall, silver prices in Jammu and Kashmir fell by 3.27% in the month of July.
Trend of Silver Rate in Jammu and Kashmir for June 2018 (rates per kg)
| Parameters | Silver price (per kg) |
| June 1 Rate | Rs.42,800 per kg |
| June 30 Rate | Rs.42,800 per kg |
| Highest Rate in June | Rs.45,000 per kg on 15 June |
| Lowest Rate in June | Rs.42,600 per kg from 2 to 5 June |
| Overall Monthly Performance | Steady |
| Percentage Change | 0.00% |
June 2018 - Week 1 (1 - 10):
- Silver prices in Jammu and Kashmir recorded significant surges during the first week of June due to a number of factors.
- When the month began, silver was priced at Rs.42,800 per kg. As the US dollar seemed to strengthen ahead of a strong jobs data, prices dropped to Rs.42,600 per kg on the 2nd.
- Rates remained unchanged till the 5th at Rs.42,600 per kg before going up to Rs.42,900 per kg on the 6th.
- The 7th recorded a significant jump in silver prices as the metal traded at Rs.43,600 per kg - after the US President lamented against the “unfair trade practices” used by the other G7 members.
- This outburst led to an increase safe haven demand, after the dollar fell. On the 8th, silver price in Jammu and Kashmir went up to Rs.43,700 per kg.
- Over the final two days of this week, silver continued to trade at Rs.43,700 per kg, thanks to a stable local demand.
June 2018 - Week 2 (11 - 17):
- The second week of June began with silver prices holding at Rs.43,900 per kg - a Rs.200 rise from the previous day’s rates.
- A strong local demand helped offset the strength of the dollar as well as the equity market, which led to silver trading at Rs.44,000 per kg on the second day of this week.
- On the 13th, silver rates in Jammu and Kashmir dropped to Rs.43,900 per kg as the US and North Korea’s summit went ahead as planned, while trade war loomed large.
- The 15th saw silver prices rise to a monthly high rate of Rs.45,000 per kg as the trade war between the US and China caused the market to drop and safe haven demand to rise.
- Local demand was also in line with this but dropped on the final day of the week to Rs.44,300 per kg as the demand wasn’t sustainable.
June 2018 - Week 3 (18 - 24):
- The US dollar strengthened after the fall seen during the previous week, causing silver rates to go down to Rs.43,400 per kg when this week started.
- This was a Rs.900 decline from the previous day’s session. On the 19th, prices went up slightly to Rs.43,500 per kg before going down to Rs.43,100 per kg on the 20th.
- Due to a poor trend overseas and a weakened local demand, silver prices went down to Rs.42,900 per kg on the 21st.
- The 22nd saw silver continuing at Rs.42,900 per kg and continue at this rate for the remainder of the week.
- When the week ended on the 24th, silver was priced at Rs.42,900 per kg.
June 2018 - Week 4 (25 - 30):
- Silver prices dipped consistently over the course of this week due to poor demand across the country.
- When the week began, the white metal was priced at Rs.43,200 per kg - a Rs.300 incline from the previous day’s rates.
- On the 26th, rates went down to Rs.43,100 per kg and then to Rs.43,000 per kg the subsequent day.
- As the US dollar continued to strengthen, silver prices dropped to Rs.42,800 per kg on the 28th of the month.
- When the week and month ended, silver was priced at Rs.42,800 per kg and, despite fluctuations, there was no change in price trends this month.
Trend of Silver Rate in Jammu and Kashmir for May 2018 (rates per kg of silver)
| Parameters | Silver price (per kg) |
| May 1 Rate | Rs.42,000 per kg |
| May 31 Rate | Rs.43,100 per kg |
| Highest Rate in May | Rs.43,800 per kg on 25 May |
| Lowest Rate in May | Rs.42,000 per kg on 1 May |
| Overall Monthly Performance | Incline |
| Percentage Change | 2.61% |
May 2018 - Week 1 (1 - 6):
- This month recorded a down turn in gold price trends due to a weak local demand despite a number of potential
- When trading started for the month of May in Jammu and Kashmir, gold was priced at Rs.3,227 per gram.
- On the 2nd, gold prices in Jammu and Kashmir dropped to Rs.3,203 per gram - a Rs.24 drop - as the US dollar strengthened significantly and bullion demand dropped as a result.
- Prices in Jammu and Kashmir dropped down again - to Rs.3,190 per gram - as the greenback improved in the midst of strong equity markets.
- The final day of this week saw gold rates rise to Rs.3,213 per gram as demand from jewellers and retailers surged.
May 2018 - Week 2 (7 - 13):
- The second week of May opened in Jammu and Kashmir with gold being priced at Rs.3,213 per gram which surged by Rs.15 to Rs.3,228 per gram the next day due to strong demand.
- The rise the previous day could be attributed to the looming trade war concerns between the United States and China.
- Gold rates went down to Rs.3,217 per gram on the 9th due to a resurgent dollar before clawing back on the 10th to trade at Rs.3,221 per gram.
- When the week ended, the yellow metal was priced at Rs.3,221 per gram.
May 2018 - Week 3 (14 - 20):
- The precious metal was traded at Rs.3,242 per gram - the month’s highest rates- as a turbulent dollar caused gold rates to rise.
- On the 15th, prices dropped slightly and the metal traded at Rs.3,239 per gram before dropping further to Rs.3,227 per gram as demand plummeted.
- Gold rates were continually on the decline this month as demand was on the lower side ahead of a steadily rising dollar.
- The week ended with the yellow metal trading at Rs.3,200 per gram.
May 2018 - Week 4 (21 - 27):
- The penultimate week of May started with a slight improvement in gold prices. Due to overnight trading cues, gold rates went up to Rs.3,208 per gram on the 21st.
- As the dollar incline against various other world currencies, gold demand took a hit. This led to gold trading at Rs.3,191 per gram on the 22nd and the 23rd of May.
- Rates seemed to increase over the next few days as the US dollar began to weaken due to concerns with the administration.
- On the 24th, the metal traded at Rs.3,201 per gram which rose to Rs.3,211 per gram on the 25th and then to Rs.3,211 per gram the next day.
- Over the final two days of this week, the yellow metal traded at Rs.3,216 per gram - a slight dip as the dollar recovered and gold rates dropped.
Trend of Silver Rate in Jammu and Kashmir for April 2018 (rates per kg)
| Parameters | Silver price (per kg) |
| April 1 Rate | Rs.41,400 per kg |
| April 30 Rate | Rs.42,300 per kg |
| Highest Rate in April | Rs.43,800 per kg on 20 and 22 April |
| Lowest Rate in April | Rs.41,000 per kg on 5 April |
| Overall Monthly Performance | Incline |
| Percentage Change | 2.17% |
April 2018 - Week 1 (1st to 7th):
- Trading commenced for the month with silver rates in Jammu and Kashmir holding at Rs.41,400 per kg on the 1st as domestic markets held their ground tracking a positive trend overseas.
- Prices rose to Rs.41,600 per kg on the 3rd as market participants speculated over a possible trade war between the US and China, weakening the US dollar.
- The next couple of days saw silver rates dropping with demand on the decline amid the recovering US dollar index.
- Poor local demand from industries and coin makers coupled with weak global cues led to prices plummeting to Rs.41,000 per kg on the 5th.
- Demand picked up towards the end of the week with an increase in industrial offtake for the metal and silver was recorded trading at Rs.41,200 per kg on the 7th.
April 2018 - Week 2 (8th to 15th):
- Demand for the metal surged during the week on account of market uncertainties brought about by rising trade war fears between China and the US.
- The week began with silver priced at Rs.41,200 per kg on the 8th with steady domestic demand amid the firm trend overseas.
- The 11th saw silver prices surging to Rs.41,700 per kg with geopolitical tensions in the Korean peninsula pushing safe-haven demand for assets such as the bullion.
- The US-led chemical attacks on Syrian civilians during the week led to investors panicking in the stock markets, this pushed demand higher for the safe-haven assets globally.
- Strong industrial orders amid the positive trend overseas led to silver rates rising to Rs.42,000 per kg on the 13th.
- The week came to an end with the white metal trading at Rs.41,900 per kg on the 15th with steady demand from coin makers and industries.
April 2018 - Week 3 (16th to 22nd):
- Trading commenced for the week with silver rates holding at Rs.42,100 per kg on the 16th with strong orders from the Asian continent.
- With the equity markets still affected by the attack on Syria, the US dollar lost against a basket of other major currencies.
- Strong investor demand coupled with rising domestic demand from industries led to rates rising to Rs.42,500 per kg on the 18th.
- The 20th saw silver rates in Jammu and Kashmir surging to Rs.43,800 per kg - the highest recorded monthly figure - amid the weakened US dollar and favourable market trends.
- Thanks to steady demand from industrial units and coin makers, prices remained untouched at Rs.43,800 per kg for the remainder of the week.
April 2018 - Week 4 (23rd to 30th):
- The final week opened with silver prices slightly lower at Rs.43,700 per kg on the 23rd as the dollar began to regain lost ground from its previous losses.
- The recovering US dollar coupled with declining industrial demand resulted in rates dropping considerably during the week.
- With investors backing off from silver trading ahead of the US Federal Reserve monetary policy meeting, rates plummeted to Rs.43,000 per kg on the 26th.
- Unfavourable global trends coupled with reduced local demand led to silver being priced at Rs.42,800 per kg on the 27th.
- Trading concluded for the month with silver rates holding at Rs.42,300 per kg on the 30th as local demand declined amid poor global cues.
- Jammu and Kashmir recorded an increase of 2.17% in silver prices due to the geopolitical tensions and market uncertainties that pushed demand higher for the metal.
Trend of Silver Rate in Jammu and Kashmir for March 2018 (rates per kg)
| Parameters | Silver price (per kg) |
| March 1 Rate | Rs.41,100 per kg |
| March 31 Rate | Rs.41,400 per kg |
| Highest Rate in March | Rs.41,900 per kg on 7 March |
| Lowest Rate in March | Rs.41,000 per kg on 19 and 21 March |
| Overall Monthly Performance | Incline |
| Percentage Change | 0.72% |
March 2018 - Week 1 (1st - 4th):
- Silver was priced at Rs.41,100 per kg when trading began in Jammu and Kashmir for the month of March.
- Prices began on a slightly stronger note, thanks to a strong demand from industries and coin makers alike.
- The 2nd saw silver rate in Jammu and Kashmir rise to Rs.41,400 per kg before rising further to Rs.41,600 per kg on the 3rd as demand rose while equity markets fell owing to a poor dollar.
- When the week ended, silver prices were recorded at Rs.41,600 per gram as demand was steady.
March 2018 - Week 2 (5th - 11th):
- The second week began with silver opening at Rs.41,700 per kg - a Rs.100 incline from the previous day. This was due to an steady rise in local demand from coin makers and industrial units.
- Prices dropped to Rs.41,400 per kg the next day as the US dollar recovered and demand from precious metals dropped as a result.
- Demand couldn’t be halted for long, though. Rates surged to Rs.41,900 per kg on the 7th as demand surged in the local circles and prices rebounded.
- Over the next few days, however, silver rate in Jammu and Kashmir dropped as a rise in the US dollar and the subsequent drop in demand helped with this. The metal traded at Rs.41,500 per kg and Rs.41,300 per kg over the 8th and 9th respectively.
- The week drew to a close with prices rising slightly to Rs.41,600 per kg.
March 2018 - Week 3 (12th - 18th):
- The third week opened at Rs.41,600 per kg but dropped to Rs.41,400 per kg on the 13th as demand fell after jobs data showed an improvement.
- On the 14th, silver rate in Jammu and Kashmir went up to Rs.41,700 per kg as markets fell after US president Donald Trump fired Rex Tillerson, the Secretary of State.
- After the abrupt rise, silver price in Jammu and Kashmir dropped to Rs.41,500 per kg on the 15th and fell again to Rs.41,300 per kg on the 16th as markets recovered.
- When trading concluded for this week, silver was trading at Rs.41,100 per kg.
March 2018 - Week 4 (19th - 25th):
- Silver rates were holding at Rs.41,000 per kg - a Rs.100 drop from the previous day’s trading rates.
- This went up to Rs.41,200 per kg on the 20th before falling to Rs.41,100 per kg on the 21st. Rates, though, rose on the 22nd to Rs.41,500 per kg on the 23rd as well as sales rebounded.
- On the 24th, silver price in Jammu and Kashmir went up to Rs.41,600 per kg as markets capitalised on a slightly uncertainty over the latest Fed meeting.
- On the final day of the week, silver was still trading at Rs.41,600 per kg.
March 2018 - Week 5 (26th - 31st):
- When the final week’s trading started, silver was priced at Rs.41,600 per kg. This rose to Rs.41,800 per kg on the 27th as a number of issues including the trade war axis between the US and China helped push demand up.
- As demand dropped ahead of weak cues, silver rate in Jammu and Kashmir went down to Rs.41,500 per kg and fell further as the week progressed.
- When the week and month ended, silver was priced at Rs.41,400 per kg.
- Overall, a 0.72% change in price trends were recorded this month, which could have been higher if not for the fall
Details of Silver Price in Jammu and Kashmir (1 Kg) - Till December 2015
Individuals who wish to purchase silver in Jammu and Kashmir can do so by weight, with an option to buy coins weighing 1 gram onwards or bars, which can weigh either 500g or 1kg. The cost of 1 kg silver in the state is Rs 36,244 (as of December 18, 2015). The current price is on the back of a slight hike, jumping by almost Rs 900 over the last two days. The year, on the whole has been good for silver aficionados, as prices stayed around the Rs 36,000 mark for a kg of silver. Prices peaked in May, touching highs of Rs 43,000, whereas March, July and December witnessed a drop in rates.
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.
- Also Check: Silver Rate In Srinagar
