Silver Rate in Karnataka

  • Today's Silver Rate In Karnataka ( 06 Aug 2020 )

    ₹ 65.06
    Today's Silver Rate per gram

    Compare Silver Rate In Karnataka (Today & Yesterday)

    Rate Change
    Silver (1 gram) ₹ 65.06 ₹ 65.41 ₹ -0.35 ↓
    Bar Silver (1 Kg) ₹ 65,060 ₹ 65,410 ₹ -350 ↓

    Silver Price In Karnataka for Last 10 Days

    Date Silver (1 gram) Bar Silver (1 Kg)
    05 Aug 2020 ₹ 65.06 ₹ 65,060
    04 Aug 2020 ₹ 65.41 ₹ 65,410
    03 Aug 2020 ₹ 65.13 ₹ 65,130
    02 Aug 2020 ₹ 65.12 ₹ 65,120
    01 Aug 2020 ₹ 65.01 ₹ 65,010
    31 Jul 2020 ₹ 63.01 ₹ 63,010
    30 Jul 2020 ₹ 66.06 ₹ 66,060
    29 Jul 2020 ₹ 66.05 ₹ 66,050
    28 Jul 2020 ₹ 64.71 ₹ 64,710
    27 Jul 2020 ₹ 61.22 ₹ 61,220

    Weekly & Monthly Graph of Silver Rate in Karnataka

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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 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 July 2020 (rates per kg)

    Parameters Silver Price (per kg)
    July 1 Rate Rs.48,560per kg
    July 31 Rate Rs.63,010 per kg
    Highest Rate in July Rs.66,010 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 Karnataka 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 Karnataka for May 2020 (rates per kg)

    Parameters Silver Price (per kg)
    May 1 Rate Rs.42,530 per kg
    May 31 Rate 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%
    • Silver had stepped foot into May in Karnataka standing at Rs.42,530 per kg. Even though there had been a fall in the rates on the next day and reached Rs.41,010 per kg, the metal had been standing firm on the back of a lot of stimulus packages which had been released by many governments across the world for boosting the economy to respond to the Coronavirus. The prices had then fallen much before the end of this week as there had been optimism over the lockdown being lifted. This had created hope in the global stock markets and had also prompted a lot of investors to start booking profits. These prices had remained pretty much steady as the U.S. dollar had been strong. The tensions between the U.S. and China had also contributed to the slowdown of the risk sentiments among most investors across the world.
    • During the second week of this month, the metal had stood at Rs.42,060 and increased on 11 May to Rs.43,620. The hike in the silver rates have been linked to the economic data which showed increasing high rates of unemployment and this had increased fears of a possible recession. This had led leading to the hike in the appeal of the white metal. The U.S. jobs data had been awaited by all investors.
    • The silver rates during in the third week of the month in this state had kicked off at Rs.43,160 and had then risen to Rs.46,900. The with prices had been rising through the week, and the week had closed with the metal being priced at Rs.48,200 per kg. The increase in prices is because of the U.S. jobs data which showed a very weak economy. The tensions of the US-China trade relations had also led to the appeal of safe-haven metal.
    • During the last week of the month, the silver prices had opened at Rs.48,250 per kg. The tensions around the Hong Kong protests and the strained US-China trade relations had led to the fluctuations in the price of silver. The increased economic stimulus packages had increased the silver prices as investors had a low-risk appetite. There had been a rise in the price of silver as the U.S. dollar had weakened.

    Trend of Silver Rate in Karnataka 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%
    • Silver opened in Karnataka at a price of Rs.40,500 in the month of April and remained unchanged for the first five days of the month in keeping with global trends as investors turned to precious metals as a safe-haven investment as coronavirus pandemic affected stock markets around the world. The investors stayed away from investing in riskier assets as almost every country going for lockdowns and restrictions, which were affecting the economy. The price of the white metal remained steady in the first week of April due to the anticipation around the release of US jobs data, which would reveal the true extent of the coronavirus pandemic. However, by the end of the week, prices dropped to the lowest price point for the month of April at Rs.40,360 per kg on 6 April. This was in due to the number of deaths due to coronavirus falling which led to optimism around the economy getting back on track, leading to an increase in appetite for risk once again, thus resulting in a dip in prices of precious metals and its appeal as a safe-haven investment.
    • 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 Karnataka 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 -14.5%
    • For the month of March, the prices of silver opened and closed at Rs.47,400 per kg and Rs.40,500 per kg in Karnataka. Overall, silver saw a 14.5% decline in the rates for the month.
    • When compared to the last day of February, silver prices remained the same on 1 March 2020. However, the prices increased by Rs.1,100 on the next day and were at Rs.48,500 for a kg. In the first week, silver hit its highest rate for the month and was at Rs.50,700 per kg on 6 March 2020. Silver prices saw a sharp increase at the beginning of the month as traders all over the world were expecting the US Federal Reserve to cut the interest rates.
    • From 7 March 2020 until 19 March 2020, the prices of silver dropped substantially due to the coronavirus outbreak. A strong US dollar also ensured that the prices dropped substantially. During this period, silver hit its lowest rate for the month and was at Rs.37,800 on 19 March 2020.
    • From 24 March until the end of the month, the prices of silver remained stagnant and were at Rs.40,500 per kg. The introduction of several measures by the US Federal Reserve to help the economy during the coronavirus outbreak made sure that the prices of the white metal did not fall.

    Trend of Silver Rate in Karnataka 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%
    • Silver opened on a high in February in Karnataka at Rs.50,300 per kg as the fears of coronavirus stoked the appeal for silver and other metals as a safe haven in the event of a global economic slowdown.
    • The price of silver spiked to its highest on 24 February at Rs.52,900 per kg as the virus spread beyond the borders of China to other countries as well with the World Health Organisation too stating its increasing concern.
    • The white metal fell to its lowest on the last day of the month of the leap year at Rs.47,400 per kg even as share markets globally had their worst weekly fall since the year 2008 as the coronavirus spread to six more countries apart from China.
    • The overall trend of silver in Karnataka in February was on a decline of –5.76% because of the viral outbreak worldwide.

    Trend of Silver Rate in Karnataka 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%
    • In Karnataka, silver prices witnessed a declining trend in the month of January. The rates opened at Rs.50,300 per kg and closed at Rs.50,200 per kg.
    • Over the month, the rates of the white metal fluctuated a lot in the state. It was accounted to the outbreak of coronavirus in China, tensions in the Middle East, and uncertainty about the signing of the trade deal between the United States and China.
    • Silver touched Rs.52,600 per kg, the highest price for the month on 8 January as tensions between Washington and Tehran continued after the United States eliminated a top Iranian military general in a drone attack.
    • The rates slipped to Rs.49,200 per kg on 30 January after the World Health Organization (WHO) declared coronavirus as a global epidemic. Silver closed the month in Karnataka at Rs.50,200 per kg with the overall performance being -0.19%.

    Also Check Silver Price in NearBy Cities of Karnataka

    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.

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