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  • Silver Rate in Karnataka

    Daily Silver Rates
    Date Silver (1 gram) Bar Silver (1 Kg)
    18 Jan 2018 ₹ 39.1 ₹ 39,100
    17 Jan 2018 ₹ 39.6 ₹ 39,600
    16 Jan 2018 ₹ 39.2 ₹ 39,200
    15 Jan 2018 ₹ 39.2 ₹ 39,200
    14 Jan 2018 ₹ 39.2 ₹ 39,200
    13 Jan 2018 ₹ 39.2 ₹ 39,200
    12 Jan 2018 ₹ 38.9 ₹ 38,900
    11 Jan 2018 ₹ 38.7 ₹ 38,700
    10 Jan 2018 ₹ 38.7 ₹ 38,700
    09 Jan 2018 ₹ 39.1 ₹ 39,100

    *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 2017 (rates per kg)

    Parameters Silver price (per kg)
    Silver Rate on 1st December 2017 Rs.38,300 per kg
    Silver Rate on 31st December 2017 Rs.38,700 per kg
    Highest Rate in December Rs.38,700 per kg from 29 to 31 December
    Lowest Rate in December Rs.36,800 per kg on 13 December
    Overall Monthly Performance Incline
    Percentage Change 1.04%

    Trend of Silver Rate in Karnataka for November 2017 (rates per kg)

    Parameters Silver price (per kg)
    Silver rate on 1st November 2017 Rs.39,300 per kg
    Silver rate on 30th November 2017 Rs.38,500 per kg
    Highest Rate in November 2017 Rs.40,100 per kg on 20 November
    Lowest Rate in November 2017 Rs.38,500 per kg on 30 November
    Overall Monthly Performance Decline
    Percentage Change -2.03%

    November 2017 - Week 1 (1st - 5th)

    • When trading opened for November, silver was priced at Rs.39,300 per kg.
    • Demand remained largely steady this week in Karnataka, which led to rates holding at mostly the same rates.
    • From the 2nd to the 5th, silver rate in Karnataka were recorded at Rs.39,300 per kg, thanks to consistent demand from local markets.

    November 2017 - Week 2 (6th - 12th)

    • The second week began with silver in Karnataka still trading at Rs.39,300 per kg.
    • On the 7th, however, silver prices increased to Rs.40,000 as local trading was affected by global cues, and a weak US dollar.
    • But, as the greenback bounced back, silver rate in Karnataka dropped to Rs.39,800 per kg on the 8th of the month.
    • Rates fluctuated quite a bit this week, with the metal trading at Rs.39,900 per kg on the 9th and then dropping to Rs.39,700 per kg on the 10th.
    • There was a steadying of prices witnessed on the 11th and the white metal traded at Rs.39,800 per kg.
    • When the week ended, silver was still trading at Rs.39,800 per kg.

    November 2017 - Week 3 (13th - 19th)

    • Silver rate in Karnataka remained unchanged for most of this week, as demand from local industries and coin makers remained consistent.
    • When trading began in Karnataka for the 13th of November, silver was priced at Rs.39,800 per kg.
    • The 14th saw silver rate in Karnataka remain unchanged but increase slightly to Rs.39,900 per kg on the 15th of the month.
    • On the 17th, silver price in Karnataka dropped back down to Rs.39,800 per kg due to low demand.
    • When the week ended, silver was still trading at Rs.39,800 per kg.

    November 2017 - Week 4 (20th - 26th)

    • This week started on a high note, with silver rates at their highest for the month, at Rs.40,100 per kg.
    • But, after that sudden surge, silver price in Karnataka dropped down to Rs.39,600 per kg on the 21st of November.
    • Rates fluctuated a little this week with the metal trading at Rs.39,700 per kg on the 23rd and then at Rs.39,800 per kg on the 24th.
    • However, a resurgent dollar and poor local cues pushed prices down to Rs.39,500 per kg on the 25th of the month.
    • During the closing hours of the week, silver was still trading at Rs.39,500 per kg.

    November 2017 - Week 5 (27th - 30th)

    • When the final week of November began, silver price in Karnataka had surged to Rs.39,700 per kg.
    • But rates dropped to Rs.39,500 per kg on the 28th as demand began to fall.
    • Silver rates fell again, to trade at Rs.39,200 per kg on the penultimate day of the month, as there was no sign of the demand increasing.
    • On the final day of November, silver rate in Karnataka dropped by Rs.700 to bring it down to Rs.38,500 per kg.
    • A weak local demand and a resurgent US dollar caused silver rates in Karnataka to drop by 2.03%.
    Parameters Silver price (per kg)
    October 1 Rate Rs.39,800 per kg
    October 31 Rate Rs.39,300 per kg
    Highest Rate in September Rs.40,500 per kg on 16 October
    Lowest Rate in September Rs.39,100 per kg on 7 and 8 October
    Overall Monthly Performance Decline
    Percentage Change -1.25%

    October 2017 - Week 1 (1-8):

    • The initial week saw silver prices declining significantly due to poor trends overseas coupled with the strengthening dollar.
    • Trading commenced with the white metal trading high at Rs.39,800 per kg owing to an increased buying from industrial units and coin manufacturers.
    • However, silver trade lost it shine with the dollar recovering amid the possibility of an interest rates hike by the US central bank. This led to prices plunging to Rs.39,400 per kg on the 3rd.
    • Though rates rebounded to Rs.39,500 per kg on the 4th and the 5th, firm equity markets and a stronger dollar led to silver rates plunging to Rs.39,100 per kg - a decline of Rs.400 per kg - on the 6th.
    • Despite strong global trends, domestic demand remained on the weaker side. This led to silver rates remaining unchanged at Rs.39,100 per kg for the remainder of the week.

    October 2017 - Week 2 (9-15):

    • The domestic trade witnessed silver rates being greatly influenced during the second week. This was due to the positive trends overseas and the imminent arrival of the festive season during the week.
    • The industrial metal was priced at Rs.39,800 per kg when the week began on the 9th.
    • With the effect of the festive season kicking in, domestic demand surged in the local trade. This led to silver prices surging to Rs.40,100 per kg on the 10th.
    • Steady local demand coupled with strong global trends resulted in rates remaining unchanged at Rs.40,100 per kg until the 12th.
    • Prices rose further to Rs.40,300 per kg on the 13th owing to an increase in industrial offtake for the white metal.
    • The rest of the week witnessed the industrial metal trading steady at Rs.40,300 per kg due to steady demand from industries and coin makers.

    October 2017 - Week 3 (16-22):

    • When trading commenced for the third week, silver was priced higher at Rs.40,500 per kg - the highest recorded monthly figure - on the 16th.
    • Poor global trends amid the strengthening dollar over the next few days led to rates plunging to Rs.40,200 per kg and Rs.40,000 per kg on the 17th and 18th respectively.
    • Domestic demand remained weak despite the arrival of Diwali in the city. This led to the white metal prices dropping uncharacteristically to Rs.39,800 per kg on the 19th.
    • Weak international trends coupled with subdued domestic demand led to the metal trading at Rs.39,800 per  kg until the 22nd

    October 2017 - Week 4 & Week 5 (23-31):

    • Poor global trends coupled with a strengthening dollar led to silver prices declining significantly during the week.
    • Silver was priced at Rs.39,700 per kg on the 23rd and 24th, thanks to steady demand from industries and coin manufacturers.
    • Weak trends overseas and strong dollar rates led to rates plummeting to Rs.39,600 per kg on the 25th. However, local demand seemed to improve despite unfavourable global cues and the
    • industrial metal prices rebounded to Rs.39,700 per kg on the 26th.
    • Global demand collapsed with investors speculating over the possible interest rate hike in December. This led to silver prices plunging to Rs.39,300 per kg on the 27th.
    • The 28th and the 29th witnessed the metal trading relatively higher at Rs.39,600 per kg due to an increased domestic demand amid positive global cues.
    • The month ended with silver being priced at Rs.39,300 per kg registering a loss of 1.25% in silver trade during the month of October.
    Parameters Silver price (per 1 kg)
    Silver rate on 1st September 2017 Rs.40,000 per kg
    Silver rate on 30th September Rs.39,800 per kg
    Highest Rate in September Rs.41,800 per kg on 8 September
    Lowest Rate in September Rs.39,600 per kg on 25 September
    Overall Monthly Performance Decline
    Percentage Change -0.50%

    September 2017- Week 1 (1st to 10th)

    • The first week of September saw the price of silver progressively rise in Karnataka after the sharp decline in the dollar rate.
    • Silver was priced at Rs.40,000 per kg on 1 September and rose to Rs.40,600 per kg on 2-3 September as local demand was on the increase.
    • A lack of stability led to higher demand from investors, which pushed silver rates in Karnataka to Rs.41,300 per kg on 6 September after sustained demand from overseas industrial units.
    • The successful testing of a thermonuclear device by North Korea led to higher demand for safe-haven assets like silver, which led to prices rising to Rs.41,800 per kg on 8 September.
    • Demand remained high as the week ended, but prices stabilised slightly as the industrial metal traded at Rs.41,600 per kg on 10 September.

    September 2017- Week 2 (11th to 17th)

    • Demand for silver was on the decline as the second week began, with local demand feeling the strain of a rising U.S. dollar rate.
    • Silver traded at Rs.41,000 per kg on 11 September as U.S. markets recouped some of their losses in the previous week.
    • The metal’s price vacillated over the course of the week due to conflicting cues from local markets and international demand.
    • Silver price in Karnataka rose to Rs.41,200 per kg on 13 September before falling to Rs.40,800 per kg on 14 September.
    • Demand rose once again as the week drew to a close, trading at Rs.41,000 per kg on 15 September.
    • The week ended with silver rising to Rs.41,700 per kg on 17 September, as local and industrial demand rose.

    September 2017- Week 3 (18th to 24th)

    • Silver opened the week trading at Rs.41,700 per kg on 18 September before plunging to Rs.39,800 per kg on 19 September as trading volumes fell.
    • Silver price in Karnataka continued to fall for most of the week, trading at Rs.40,200 per kg on 20 September as higher U.S. dollar rates led to a drop in demand from overseas industrial units.
    • Demand rose briefly to trade at Rs.40,100 per kg on 22 September, but prices quickly fell to Rs.39,800 per kg on 23 September and remained constant till the week ended on 24 September.

    September 2017- Week 4 (25th to 30th)

    • The last week of September saw silver rate in Karnataka dip further due to positive markets and an overall decline in silver demand.
    • The industrial metal traded at Rs.39,600 per kg on 25 September as demand was muted, but prices rose to Rs.40,500 per kg on 26 September as local demand kept prices from dropping.
    • The victory of Angela Merkel in the German elections led to stock markets surging, but the impending Catalan independence referendum led to tension across Europe.
    • Higher demand for silver was recorded across Asian markets, though prices did not rise as silver traded at Rs.39,800 per kg on 28 September.
    • Demand was consistent as the month ended, with silver priced at Rs.39,800 per kg on 30 September.
    • In spite of a late recovery in price, the value of silver fell by 0.50% over the course of the month.

    Details of Silver Price in Karnataka (1 Kg) - Till December 2015

    The price of 1 kg of silver is pegged at Rs.33556 (as of December 17th, 2015). The price of the yellow precious metal has been on the downward slide since the start of 2015 when 1 kg of silver was pegged at Rs.40090. In the following month of February, the price of silver by -3.4% to Rs.38700. The months of March saw the price of the precious metal marginally rising by 0.4% to Rs.38880 but marginally fell by -1.4% to Rs.38301 in April. The month of May witnessed a rise in the price of the precious metal by 5.8% to Rs.40530. However, the mini rally did not continue in the following months with the precious metal losing gains in June and July at Rs.38088 and Rs.36158 respectively. The downward trend continued in August when the price of silver fell by 0.4% to Rs.36010. The price of silver continued to plummet in the months of September and October at Rs.35487 and Rs.34576 respectively. 1 kg of silver was pegged at Rs.34100 towards the end of November.

    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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