Silver Rate in Karnataka

Daily Silver Rates
Date Silver (1 gram) Bar Silver (1 Kg)
21 Feb 2019 ₹ 43.9 ₹ 43,900
20 Feb 2019 ₹ 44 ₹ 44,000
19 Feb 2019 ₹ 43.5 ₹ 43,500
18 Feb 2019 ₹ 43.6 ₹ 43,600
17 Feb 2019 ₹ 43.4 ₹ 43,400
16 Feb 2019 ₹ 43.4 ₹ 43,400
15 Feb 2019 ₹ 42.8 ₹ 42,800
14 Feb 2019 ₹ 42.7 ₹ 42,700
13 Feb 2019 ₹ 42.8 ₹ 42,800
12 Feb 2019 ₹ 43.1 ₹ 43,100

*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 Karnataka

Silver is held in high regard across various sections in India owing to its store of value. The white precious metal, is considered a safe bet during periods of financial instability and inflation. Many consumers buy gift articles made of silver during the wedding season. The precious metal is believed to bring in prosperity and good luck. Not surprisingly, silver articles are widely used for the performance of several rituals.

Silver rate in Karnataka depends on a wide range of national and international factors. Silver is viewed as a traditional investment used in the form of trendy gifts during festivals, weddings, temple jewellery besides any other auspicious occasion. The white precious metal is bought by people across different age groups for a variety of uses.

Trend of Silver Rate in Karnataka for December 2018 (rates per kg)

Parameters Silver Price (per kg)
December 1 Rate Rs.38,500 per kg
December 31 Rate Rs.41,500 per kg
Highest Rate in December Rs.41,500 per gram on 31 December
Lowest Rate in December Rs.38,500 per gram on 1 December
Overall Monthly Performance Incline
Percentage Change 7.79%

Silver Rate Trend in Karnataka for December 2018:

  • Rising demand from the retail sector and coin makers boosted silver rates in Nagpur which opened at Rs.38,500 per kg on 1 December.
  • Overseas industrial demand for the metal was static as Asian offtake was poor due to the effects of the Sino-U.S. trade dispute but local demand rose as the dollar weakened, with silver trading at Rs.40,700 per kg from 11-14 December.
  • Minor fluctuations were recorded when silver fell to Rs.39,800 per kg on 18 December but interest from investors bolstered the metal’s demand as geopolitical tensions affected equities.
  • Fears of the economic impact of the U.S. government shutdown and Brexit further dented equities and the dollar as silver demand soared to Rs.41,500 per kg when trading closed on 31 December.

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

Parameters Silver price (per kg)
November 1 Rate Rs.40,900 per kg
November 30 Rate Rs.38,800 per kg
Highest Rate in November Rs.41,500 per kg from 2-4 and 6 November
Lowest Rate in November Rs.38,800 per kg on 30 November
Overall Monthly Performance Decline
Percentage Change -5.13%

Silver Rate Trend in Karnataka for November 2018:

  • Demand for silver was on the decline as industrial demand dropped due to weak overseas cues, though the metal traded strongly at Rs.40,900 per kg on 1 November.
  • Prices rose marginally during Diwali, trading at Rs.41,500 per kg on 5 November as local retail demand increased but a steep drop in the rupee dented interest in the metal.
  • The Sino-U.S. trade dispute led to a reduction in silver orders from Asian industrial units, further denting demand for the metal as silver fell to Rs.39,800 per kg on 20 November.
  • Silver rates in Karnataka dropped to a monthly low of Rs.38,800 per kg on 30 November as poor offtake from coin makers and industrial units pushed prices lower.

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

Parameters Silver price (per kg)
October 1 Rate Rs.41,100 per kg
October 31 Rate Rs.41,200 per kg
Highest Rate in October Rs.42,000 per kg on 3 October
Lowest Rate in October Rs.41,100 per kg on 1 and 2 October
Overall Monthly Performance Incline
Percentage Change 0.24%

October 2018 - Week 1 (1-7):

  • When the week began, silver opened trading at Rs.41,100 per kg due to a steady demand for the industrial metal in the domestic market.
  • With the US dollar losing some sheen ahead of the US Federal Reserve meeting to decide on a possible interest hike, silver prices in Karnataka rose to Rs.42,000 per kg on 2 October.
  • Silver ended at Rs.41,900 per kg when the week ended on 7 October, recording a decline of Rs.800 per kg as against the opening price.

October 2018 - Week 2 (8-14):

  • Silver rates in Karnataka stood at Rs.41,500 per kg when the week began on 8 October, declining due to poor demand from industries and coin makers due to weak overseas cues.
  • The US greenback rose amid bullish stock markets which prompted a fall in demand for the white metal and silver was recorded trading at Rs.41,100 per kg on 11 October.
  • Silver traded at Rs.41,500 per kg when the week ended on 14 October with demand subdued by an appreciating dollar and well-performing equities market.

October 2018 - Week 3 (15-21):

  • Silver in Karnataka was recorded trading at Rs.41,900 per kg when the week began on 15 October with the local markets recovering from previous week’s losses.
  • On 17 October, prices dropped to Rs.41,400 per kg before inclining to Rs.41,700 per kg the next day due to tumbling stock markets and a depreciating US dollar.
  • Silver closed the week trading at Rs.41,500 per kg, declining due to weak demand for the metal amid recovering dollar.

October 2018 - Week 4 (22-28):

  • Silver traded at Rs.41,500 per kg when the week began on 4 October with a rise in demand from industries and coin makers due to a strong market trend overseas.
  • Rates increased to Rs.41,900 per kg on 24 October as the rupee depreciated over the US greenback due to a highly volatile stock market.
  • Silver closed at Rs.41,700 per kg when the week ended on 28 October after an incline in the dollar rate led to sliver imports falling in the domestic market.

October 2018 - Week 5 (29-31):

  • Silver opened this week trading at Rs.41,600 per kg on 29 October due to a drop in demand for the white metal amid a stable US dollar and rising equities.
  • Subdued demand coupled with weak overseas market cues led to a drop in silver rates in Karnataka and the industrial metal was trading at Rs.41,200 per kg on 30 October.
  • Silver prices in Karnataka during the month rose by 0.24% when silver closed the month at Rs.41,200 per kg on 31 October.

Trend of Silver Rate in Karnataka 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%

September 2018 - Week 1 (1 - 8):

  • Trading opened for the month with silver in Karnataka priced at Rs.40,000 per kg on the 1st with steady local demand from industrial units and coin makers amid the firm trend overseas.
  • The week witnessed silver rates fluctuating on account of inconsistent demand brought about by the volatile markets and uneven global cues.
  • Prices rose to Rs.40,100 per kg the next day before dropping to Rs.39,500 per kg - the lowest recorded monthly figure - on the 5th following a drop in industrial demand for the white metal.
  • However, with the US-Chinese trade dispute intensifying overseas, stock markets tumbled, forcing investors to bank on safe-haven assets. This led to silver prices recovering to Rs.39,700 per kg towards the end of the week.

September 2018 - Week 2 (9 - 15):

  • The week began with silver trading at Rs.39,700 per kg on the 9th with domestic markets capitalising on the previous session’s gains.
  • The US dollar index dropped considerably against other apex currencies following the weaker-than-expected US employment data. This led to silver price in Karnataka surging to Rs.39,900 per kg on the 11th.
  • Trading concluded for the week with the industrial metal priced at Rs.39,500 per kg on the 15th as the US dollar regained lost ground amid the improving dollar fortunes.

September 2018 - Week 3 (16 - 22):

  • Trading commenced for the week with silver priced at Rs.39,500 per kg on the 16th with poor demand for the metal from industries and coin manufacturers amid unfavourable market cues overseas.
  • Demand, however, picked up as the week progressed with industrial units and coin makers ramping up purchases to stock their inventories and silver was priced at Rs.40,000 per kg on the 19th amid strong domestic trends.
  • The week saw demand picking up further with the rupee value dropping and the international trade tensions tumbling the equity markets.
  • The week came to an end with the white metal priced at Rs.40,300 per kg on the 22nd with strong global demand compounded with positive trends overseas.

September 2018 - Week 4 (23 - 30):

  • The final week began with silver priced at Rs.40,300 per kg on the 23rd with steady local demand amid the positive global cues.
  • A decline in industrial orders from the Asian continent led to prices dropping to Rs.40,000 per kg the next day but soon picked up to Rs.40,800 per kg over the next couple of days, thanks to the weakening US dollar and losing equity markets.
  • The month concluded with silver rate in Karnataka at a monthly high of Rs.41,200 per kg on the 30th, registering a 3% increase in prices during the course of the month.

Trend of Silver Rate in Karnataka 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):

  • August began with silver in Karnataka trading at its highest for the month. As on 1 August, the metal was priced at Rs.41,400 per kg.
  • Domestic demand for silver in the state dipped the next day creating a decline in the value for the metal. The price dropped by Rs.300 per kg, and stood at Rs.41,100 per kg.
  • Silver then stabilised in value over the next few days before experiencing a hike in the price on 4 August. Silver surged by Rs.200 per kg as demand for the metal amongst local industries and jewellers increased. This surge in demand, however, did not affect the price of silver in the state.
  • At the end of week 1, the price of silver in Karnataka stood at Rs.41,300 per kg.

August 2018 - Week 2 (6 - 12):

  • Industrial demand for silver in the state plummeted at the start of week 2, naturally causing a dip in the value of silver. The metal was priced at Rs.41,300 per kg.
  • On 7 August, the US economy showed positive trends causing the value of the dollar to rise and the silver price in Karnataka to plummet to Rs.41,200 per kg.
  • After the metal declined in value, a significant hike was recorded on 9 August as silver was trading at Rs.41,400 per kg. The uprise in the price of silver can be linked to the decline in the value of the dollar in correspondence with other currencies.
  • The next day, domestic demand for the metal declined causing the price of silver in the state to plumet too. On 10 August, silver was recorded at Rs.41,100 per kg. Throughout the entire month, the price of silver was determined by the variation in demand for the metal.
  • Week 2 ended with silver experiencing a slight hike in its value as it was trading at Rs.41,200 per kg.

August 2018 - Week 3 (13 - 19):

  • On 13 August, silver commenced trading Rs.41,200 per kg.
  • The next day, silver price in the state experienced a decline as it fell a couple of points to Rs.40,900. A drop in demand could have been the cause for the decline.
  • During week 3, US released employment data which had a favourable impact on its economy. This led to the incline in the value of the dollar, in turn depleting the value of silver.
  • Despite the fact that the dollar rose in value, the metal in Karnataka uncharacteristically rose in value on 15 August to Rs.41,100 per kg. However, the hike did not last long as the value of silver dipped the very next day to Rs.39,900 per kg.
  • During 17 - 19 August, silver in the state experienced a spike in its value and rose by Rs.100 per kg. Silver in Karnataka, at the end of week 3, closed at Rs.40,000 per kg.

August 2018 - Week 4 (20 - 26):

  • At the start of week 4, the price of silver in the state remained unaltered as it stood at Rs.40,000 per kg.
  • The price of silver then rose in value by Rs.100 per kg to Rs.40,100 on 22 August.
  • The metal then dipped a few points to Rs.39,900 as the dollar rose in value in comparison to other currencies.
  • In subsequent days, demand for the metal declined causing its price to drop further to Rs.39,800 per kg.
  • Week 4 ended with silver substantially increasing in value to Rs.40,200 per kg.

August 2018 - Week 5 (27 - 31):

  • Silver was priced at Rs.40,200 per kg at the start of week 5.
  • As demand for the metal from local industries and jewellers increased, its value rose in the state of Karnataka as well.
  • The week ended with the dollar rising in correspondence to other currencies, causing the silver price to decline to Rs.40,300 per kg. The month recorded a declining trend in silver price at the rate of -2.65%.

Trend of Silver Rate in Karnataka 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)

  • In Karnataka, silver was traded at Rs.42,800 per kg on 1 July 2018.
  • On 3 July, the price of silver fell by Rs.400 per kg and traded at Rs.42,400 per kg. The fall in demand for the metal from industrial units and coin makers led to the decline of silver rates.
  • However, during the week, silver prices picked up and traded at Rs.42,800 per kg. During this time, a spike in demand was noted.
  • On 9 and 10 July, the highest silver price of Rs.42,900 per kg was recorded for the month in Karnataka.
  • Positive market trends and the declining US dollar rates over all other currencies caused the increase in silver prices.

July 2018- Week 2 (11-17)

  • On 11 July, silver rates fell by Rs.300 per kg and traded at Rs.42,600 per kg. The fall in silver prices was due to a dip in silver intake in Karnataka.
  • Silver prices dipped further as the demand for the metal fell. The metal traded at Rs.42,200 per kg from 12 - 14 July.
  • On 16 July 2018, silver traded at Rs.42,300 per kg. Though a marginal increase was noted on this day, the prices of the metal quickly dropped.
  • Though there was a decline in the dollar value during the last few days of the week, it did not affect silver rates much.
  • Silver rates fell by Rs.200 per kg and closed at Rs.42,100 per kg on 17 July 2018.

July 2018- Week 3 (18 - 24)

  • Due to a lack of demand, silver rates dropped by Rs.400 per kg on the first day of the week. On 18 July 2018, silver was priced at Rs.41,700 per kg.
  • Though silver rates were not greatly influenced by any other external factors except demand throughout the month, a rise in US dollar value affected silver rates in the third week of July in Karnataka.
  • On 20 July 2018, due to a rise in US dollar value, the price of silver further dipped to Rs.41,300 per kg.
  • Silver rates stood at Rs.41,700 per kg from 21 - 22 July. 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)

  • An increase of Rs.100 per kg was recorded 25 July 2018 when silver traded at Rs.41,500 per kg.
  • On 26 July, silver prices further increased by Rs.300 per kg and traded at Rs.41,800 per kg as the demand for the metal picked up.
  • However, as the demand for the metal faded, the price of silver fell and stood at Rs.41,200 per kg from 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, the prices of silver fell by 3.27% in the month of July in Karnataka.

Trend of Silver Rate in Karnataka 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):

  • When the week started, silver rates in Karnataka were recorded at Rs.42,800 per kg on 1 June. The demand for the metal from local industries and coin manufacturers remained stable amid positive overseas trends.
  • With the US dollar growing stronger day by day against other major emerging apex currencies, silver rates fell to the monthly low of Rs.42,600 per kg on 2 June.
  • Silver rates remained stable till 5 June due to subdued local demand coupled with declining interest overseas led to rates stagnating.
  • Silver prices fell further to Rs.43,600 per kg on 8 June on steadily declining demand.
  • Prices rose to Rs.43,700 per kg on 9 June as the value of the US dollar fluctuated and markets got jittery just before the summit.
  • Silver closed at Rs.43,700 per kg on 10 June on steady domestic demand and positive overseas trends.

June 2018 - Week 2 (11 - 17):

  • As the industrial demand of the metal picked up, there was a small hike in silver prices at Rs.43,900 per kg on 11 June. On the other hand, investors were capitalising on the previous session’s gains on the commodity markets.
  • Due to positive investor sentiments, silver prices in Karnataka continued to rise and traded at Rs.44,000 per kg on 12 June. However, prices quickly fell to Rs.43,900 per kg on 13 June.
  • Silver traded at Rs.44,300 per kg on 14 June as local coin makers increased.
  • Prices surged to Rs.45,000 per kg on 15 June, the highest rate for the month of June in Karnataka.
  • In the next few days, the price of the metal fell and traded at Rs.44,300 per kg for the rest of the week as the domestic demand for silver stabilised in spite of declining overseas interest.

June 2018 - Week 3 (18 - 24):

  • Silver prices fell drastically on the first day of week 3 as the value of the US dollar grew stronger. On this day, the metal traded at Rs.43,400 per kg.
  • Poor demand from industrial units coupled with a strengthening U.S. Dollar led to a drop in the price of the metal across domestic and international markets.
  • As the domestic demand for the metal picked up and traded at Rs.43,500 per kg on 19 June. But, the overall demand for the metal was poor due to to the steady equity and currency markets.
  • The metal fell further to Rs.42,900 per kg on 21 June due to the impending Federal Reserve meeting and the expected schedule of interest rate hikes.
  • Demand from local coin makers was flat due to the rising dollar, as the trade tariff crisis led to equity disturbances.
  • The week ended with silver priced at Rs.42,900 per kg on 24 June.

June 2018 - Week 4 (25 - 30):

  • Silver opened at Rs.43,200 per kg on 25 June. An incline of Rs.300 per kg in silver rates was noted on the first day of the week.
  • Prices did not change much due to the fluctuating dollar throughout the week.
  • The escalating of tensions between the United States and China over trade tariffs caused further fluctuations across global markets, though silver prices did not reflect a change.
  • Silver rates fell to Rs.42,800 per kg on 29 June due to poor overseas demand.
  • The month ended with silver priced at Rs.42,800 per kg on 30 June. The overall trend in silver prices remained steady throughout the month in Karnataka.

Trend of Silver Rate in Karnataka 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 (1st - 6th)

  • Silver trading in Karnataka saw consistent improvement over the course of this month, with rates reaching the highest levels towards the fourth week of the month.
  • On the 1st of May, when trading began, silver was priced at Rs.42,000 per kg. This was also the lowest silver price for the month.
  • As demand was on a steady incline, silver rates went up to Rs.42,600 per kg on the 3rd before continuing to hold steady for the remaining few days of this week.

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

  • The second week’s trading started with silver prices holding at Rs.43,200 per kg - a slow and consistent improvement from the previous week’s rates.
  • As the dollar seemed to incline, silver rates fell slightly on the next day to trade at Rs.43,000 per kg on the 8th of May.
  • On the 9th, silver rates went up slightly to Rs.43,100 per kg before rising to Rs.43,300 per kg as demand in the local market was on a steady incline.
  • Silver prices in Karnataka went further up to Rs.43,500 per kg on the 11th and then to Rs.43,600 per kg on the 12th as demand continued to rise.
  • Demand remained consistent on the final day of this week, thanks to sustained purchases from the local market.

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

  • When the third week of May began, silver was priced at Rs.43,600 per kg. There were fluctuations in rates this week due to uneven demand caused by slowed down purchases.
  • The second day of this week, i.e., the 15th saw silver rates drop by Rs.300 and the metal traded at Rs.43,300 per kg.
  • On the 16th, silver rates dropped to Rs.43,000 per kg as cues from the global market weakened and demand dropped as a result.
  • Prices rose to Rs.43,200 per kg on the 17th before dropping to Rs.43,000 per kg on the 18th the US dollar gained against other currencies.
  • On the final day of this week, the metal was priced at Rs.43,100 per kg as there was a low yet steady demand in the local market.

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

  • The fourth week of May’s trading in Karnataka saw silver rates rise due to strong cues brought about by a weakened dollar.
  • There were a number of conflicts around the world which helped bullion investors’ cause and they increased their investment.
  • On the 21st, when the week began, the white metal was priced at Rs.43,100 per kg before rising to Rs.43,500 per kg on the 23rd as demand surged.
  • Prices went down to Rs.43,300 per kg on the 24th as demand for the metal dropped slightly on the day.
  • On the 25th, the precious metal traded at Rs.43,800 per kg - the month’s highest rates as demand surged ahead of a poor dollar.
  • The final day of this week saw silver rates rise slightly to Rs.43,600 per kg uncertainties rose in the US and demand for safe haven assets were on the rise.

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

  • When the final week of May opened for trading, silver rates had dropped to Rs.43,000 per kg - a sharp Rs.600 per kg decline in just a day.
  • On the 29th, prices went up slightly to Rs.43,100 per kg before dropping to Rs.42,900 per gram on the final day of the month.
  • As demand surged briefly silver rates went up to Rs.43,100 per kg. This month’s trading recorded a 2.61%, thanks to a surge in demand towards the final week.

Trend of Silver Rate in Karnataka 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 -7th)

  • The first week of April saw silver prices trade at Rs.41,400 per kg on 1 April as local demand was stable and in line with trends seen overseas.
  • The possibility of trade wars between the U.S. and China led to some market instability, which in turn led to higher demand for bullion.
  • Prices rose to Rs.41,600 per kg on 3 April but this was a brief rise as a string dollar rate led to a drop in orders for silver across both local as well as international orders.
  • The fluctuating local industrial demand for silver could be attributed to strong equity markets and the high cost of import due to the stable U.S. dollar.

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

  • Prices rose in the second week as demand for bullion was on the rise due to political instability impacting market performance.
  • Silver opened the week trading at Rs.41,200 per kg on 8 April before prices rose to Rs.41,700 per kg on 11 April.
  • The suspected Syrian chemical attack against its own citizens led to global equity markets falling as demand for safe-haven assets like bullion rose.
  • Silver was priced at Rs.42,000 per kg on 12 April as local orders increased due to the favourable international cues as well as a low U.S. Dollar rate.
  • Coin makers also increased orders which kept silver prices stable in spite of continued market fluctuation, as silver prices dipped slightly.
  • The industrial metal traded at Rs.41,600 per kg on 13 April as international markets began to recover from the earlier panic selling.
  • The week ended with silver priced at Rs.41,900 per kg on 15 April due to conflicting cues from international markets and local demand.

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

  • Demand for silver in Karnataka was on the increase as international trends as well as local orders rose in the third week.
  • Silver opened the week trading at Rs.42,100 per kg on 16 April after the U.S.-led airstrikes on Syria led to renewed turmoil across stock markets.
  • The continued war rhetoric by the U.S. and tense ties with China led to a rush to invest in safe haven assets by investors, which pushed up prices and demand for silver.
  • The industrial metal was priced at Rs.43,700 per kg on 19 April as the dollar plunged due to political crises, which led to a rise in orders from Asia due to the lower import cost.
  • Silver rose to a monthly high of Rs.43,800 per kg on 20 April and prices remained unchanged for the remainder of the week due to strong local demand and favourable international cues.

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

  • The last week of April saw demand for silver fall slightly as equity markets regained their earlier losses and the dollar slowly recoup its value.
  • Silver opened the week at Rs.43,700 per kg on 23 April as investors awaited results of the Fed Reserve meeting and tensions with China appeared to be abating.
  • Local demand was stagnant due to a rise in the dollar rate, which made imports of the metal more expensive.
  • The industrial metal traded at Rs.43,000 per kg on 26 April due to a decline in demand from coin makers and the retail sector as well.
  • The drop in price continued for the rest of the week with silver trading at Rs.42,800 per kg on 27 April.
  • A sharp drop was seen as the month ended with silver priced at Rs.42,300 per kg on 30 April.

Trend of Silver Rate in Karnataka 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 prices in Karnataka were on the rise on positive market developments as well as consistent demand from industrial units.
  • Trading opened at Rs.41,100 per kg as the month began, with steady demand due to consistent offtake from industrial units.
  • Prices climbed to Rs.41,400 per kg on 2 March on positive market cues and a declining U.S. Dollar.
  • Coin makers also increased orders which led to a rise in demand for the industrial metal as silver prices rose to Rs.41,600 per kg on 4 March.

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

  • The second week saw silver prices continue to rise on positiv market trends.
  • Silver was priced at Rs.41,700 per kg on 5 March as domestic demand rose on positive international trends.
  • Prices dropped to Rs.41,400 per kg on 6 March before a revival in interest led to prices rising to Rs.41,900 per kg on 7 March.
  • A declining dollar and geopolitical tensions in the U.S. led to markets falling and investors seeking safe-haven assets like bullion.
  • Prices regularised during the week as silver dropped to Rs.41,300 per kg on 9 March.
  • Prices recovered as the week ended on 11 March, trading at Rs.41,600 per kg.

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

  • The third week saw a gradual decline in demand for silver which was reflected in the price of the industrial metal.
  • Silver was priced at Rs.41,600 per kg on 12 March on stable demand though local industrial demand was on the decline due to a rise in the dollar value.
  • Silver dropped to Rs.41,600 per kg on 13 March on reduced demand from coin makers while equity markets stabilised on positive market cues.
  • The surprise firing of the U.S. Secretary of State led to a rise in silver demand, which rose to Rs.41,700 per kg on 14 March.
  • Demand fell for the rest of the week on a strengthening dollar.
  • The week ended with silver priced at Rs.41,100 per kg on 18 March following a steep fall in demand.

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

  • Silver prices fell as the week began, trading at Rs.41,000 per kg on 19 March on poor international demand.
  • Prices fluctuated on conflicting market cues as silver rose to Rs.41,200 per kg on 20 March on unsteady equity markets.
  • Geopolitical tensions in the U.S. led increasing interest in bullion as silver prices rose to Rs.41,500 per kg on 22 March.
  • Local demand rose as interest in silver peaked overseas which kept silver at Rs.41,600 per kg on 23 March.
  • Local demand remained constant as the week ended with silver priced at Rs.41,600 per kg on 25 March.

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

  • Silver was priced at Rs.41,600 per kg on 26 March as industrial offtake was bolstered by weak equity markets.
  • Prices rose to Rs.41,800 per kg on 27 March as markets plunged on the possibility of a trade war with China due to prohibitive trade tariffs.
  • Demand for the industrial metal slipped as the week progressed as local coin makers reduced offtake due to a rise in the dollar rate, making silver imports more expensive.
  • Reducing industrial demand resulted in silver prices dropping to Rs.41,400 per kg on 29 March as prices remained unchanged for the rest of the week.
  • In spite of a fall in demand towards the end of the month, silver prices rose by 0.72% during the month.

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

Parameters Silver price (per kg)
February 1 Rate Rs.42,600 per kg
February 28 Rate 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
Percentage Change -3.28%

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

  • The month began in Karnataka with the white metal trading at Rs.42,600 per kg on the 1st after the US dollar weakened ahead of the US employment data. This was also the lowest monthly figure recorded in the city.
  • Silver rate in Karnataka remained unaltered at Rs.42,600 per kg on the 2nd owing to strong domestic demand amid the positive global cues.
  • However, the US dollar index rose against other emerging currencies after the US payrolls data proved to be stronger than expected. This led to silver price in Karnataka plunging to Rs.41,700 per kg on the 3rd.
  • Thanks to the subdued but steady demand from industries and coin manufacturers, the rest of the week saw the industrial metal prices holding steady at Rs.41,700 per kg on the 4th.

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

  • When trading commenced for the second week,  silver was priced relatively lower at Rs.41,500 per kg on the 5th after demand for the metal declined amid weak global cues.
  • Though rates rose to Rs.41,900 per kg the next day, silver price in Karnataka plunged to Rs.41,400 per kg on the 7th with the US dollar index rising against other apex currencies in the international market.
  • Poor trends overseas compounded by weak demand resulted in silver rates dropping further to Rs.40,800 per kg on the 8th.
  • The 9th saw the white metal rates rebounding to Rs.41,000 per kg following an unexpected incline in domestic demand despite the poor trend overseas.
  • However, with the dollar and equities market performing well in the international trade, silver rate in Karnataka plummeted to Rs.40,600 per kg on the 10th. This was also the lowest recorded monthly figure in the city.
  • The week concluded with the industrial metal trading at Rs.40,600 per kg on the 11th with poor demand amid the weak trends overseas.

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

  • Poor dollar performances coupled with weakly performing equities resulted in silver prices rising considerably during the course of the week.
  • The week began with silver priced relatively higher at Rs.40,900 per kg on the 12th with the US dollar losing ground ahead of the US inflation data.
  • The next couple of days saw silver rate in Karnataka rising after markets awaited the inflation data for clues on the pace of Fed rate hikes during the year. The white metal was recorded trading at Rs.41,300 per kg on the 13th before rising to Rs.41,400 per kg on the 14th amid the positive trends overseas.
  • Prices surged to Rs.41,800 per kg on the 15th before plunging to Rs.41,700 per kg on the 16th with the US dollar strengthening following the US inflation data.
  • With investors and traders gravitating on safe-haven assets to hedge against inflation concerns, demand for the metal surged. This led silver price in Karnataka holding steady at Rs.41,700 per kg for the remainder of the week.

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

  • The fourth week commenced with the industrial metal priced at Rs.41,600 per kg on the 19th.
  • However, silver rate in Karnataka plunged to Rs.41,200 per kg the next day after the US dollar strengthened against other emerging currencies.
  • Though rates remained untouched at Rs.41,200 per kg on the 21st amid the poor trends overseas, silver prices rebounded to Rs.41,400 per kg the next day with an increase in demand from local industries and coin manufacturers.
  • Prices surged further to Rs.41,600 per kg on the 23rd with the US dollar index and equities market losing in the international market.
  • The 24th saw rates declining slightly to Rs.41,500 per kg after domestic demand stabilised amid the firm trends overseas.
  • Thanks to steady demand from industries and coin makers, the rest of the week saw silver trading firm at Rs.41,500 per kg amid the positive trend overseas.

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

  • When trading commenced for the last week, silver price in Karnataka were recorded holding at Rs.41,600 per kg on the 26th.
  • With markets eyeing the latest move by the Fed, the US dollar weakened. This led to silver rate in Karnataka surging to Rs.41,700 per kg on the 27th.
  • The month came to an end with the industrial metal trading at Rs.41,200 per kg on the 28th as the US dollar strengthened.
  • Silver trade in Karnataka registered a loss of 3.28% during the course of the month.

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

Parameters Silver price (per kg)
Silver Rate on 1st January 2018 Rs.39,100 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.38,700 per kg on 10 and 11 January
Overall Monthly Performance Incline
Percentage Change 7.92%

January 2018 - Week 1 (1st - 7th)

  • Silver was priced at Rs.39,100 per kg when trading began on the first day of January 2018.
  • Due to steady demand from local coin makers and industrial units, silver prices in Karnataka remained at Rs.39,100 per kg on the 2nd day of this week.
  • As the US dollar seemed to strengthen, silver prices in the state took a hit and fell by Rs.300 to Rs.38,800 per kg on the 3rd of January.
  • Demand held steady on the 4th, as a result of which, silver prices remained at Rs.38,800 per kg when trading ended for the day.
  • The drop in demand was due to the jobs data, which was expected to hit the markets this week. Rates remained the same on the next day as well as investors exercised caution when making purchases.
  • However, demand rose on the 6th and gold price in Karnataka went up to Rs.39,200 per kg - a Rs.400 per kg hike - as the data was weaker than expected.
  • When the week ended, silver rates in Karnataka were recorded at Rs.39,200 per kg.

January 2018 - Week 2 (8th - 14th)

  • The second week of January began with silver still trading at Rs.39,200 per kg.
  • On the 9th, silver rate in Karnataka dropped slightly to Rs.39,100 per kg. This happened because the dollar improved and demand for the metal declined.
  • The 10th again saw silver prices in Karnataka drop - this time to Rs.38,700 per kg - as a rising US dollar continued to affect precious metal trading.
  • Silver was still trading at Rs.38,700 per kg on the 11th but dropped started on a upward path to trade at Rs.38,900 per kg on the 12th of the month.
  • As the US dollar weakened after a brief surge, silver prices went further up to Rs.39,200 per gram on the 13th of January.
  • Silver rates were recorded at Rs.39,200 per gram on the final day of this week.

January 2018 - Week 3 (15th - 21st)

  • When the third week started on the 15th, silver prices had seen little change and it was seen trading at Rs.39,200 per kg.
  • Due to stable from local investors, the metal continued to trade at Rs.39,200 per kg before rising to Rs.39,600 per kg on the the 17th.
  • The US dollar regained some of the lost ground, which put bullion trading on the backburner. The white metal traded at Rs.39,100 per kg on the 18th of the month.
  • Over the next three days, i.e., from the 19th to the 21st, silver continued at Rs.39,100 per kg as demand was low but steady.

January 2018 - Week 4 (22nd - 28th)

  • The fourth week of January bore witness to a few changes in prices as markets remained largely stable.
  • On the 22nd of January, when the week began, silver was priced at Rs.39,100 per kg which then rose to Rs.39,200 per kg the next day due to a slight change in demand.
  • There was very few changes in demand over the course of the week as there were no major drivers which would otherwise impact trading patterns.
  • On the 24th of the month, silver was trading at Rs.39,200 per kg and went on to sell at this rate on the 25th of the month as well.

January 2018 - Week 5 (29th - 31st)

  • The final week of January 2018 bore witness some changes in prices, which was the cause of change in the USD- INR dynamic.
  • On the 29th of January, the white metal was priced at Rs.42,700 per kg - a significant rise compared to the trading rates over the course of the previous week.
  • The 30th saw silver prices in Karnataka drop to Rs.42,200 per kg - a Rs.500 decline as demand for the metal took a nosedive as the latest Federal Reserve meeting approached.
  • When the month ended, silver was seen trading at Rs.42,200 per kg.
  • Overall, silver prices changed by a massive 7.92% this month due to a number of factors. The US dollar was largely underperforming and local demand surged as a result of that.

Silver as an investment in Karnataka

Silver is an accessible precious metal which can be an effective hedge against inflation in the long term. Sterling grade or grade 925 consisting of 92.5% silver and 7.5% copper are the most common forms of investment. Sterling jewellery is sold in the form of rings and necklaces.

Physical silver: Silver coins and bars are widely bought in Karnataka. Customers can buy silver bars of various denominations from Metals and Minerals Trading Corporation of India (MMTC) and banks. Silver coins are more affordable compared to gold and therefore, are more popular forms of investment. Silverware, artefacts and intricate jewellery including trendy customised pieces are popular.

Silver contracts: Customers can trade in silver futures on MCX and NCDEX. Silver Mini (SILVERM) and SILVER 1000 are traded in units of 5 kg. SILVERHEDG is traded in units of 30 kg in NCDEX. Many customers invest in futures owing to its transparent pricing.

Also Check Silver Price in NearBy Cities of Karnataka

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