Silver Rate in Kolhapur

Daily Silver Rates
Date Silver (1 gram) Bar Silver (1 Kg)
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
11 Feb 2019 ₹ 43.3 ₹ 43,300
10 Feb 2019 ₹ 43.3 ₹ 43,300
09 Feb 2019 ₹ 43.3 ₹ 43,300
08 Feb 2019 ₹ 43.1 ₹ 43,100
07 Feb 2019 ₹ 43.2 ₹ 43,200

*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 Price in Kolhapur

Silver is sought-after by millions across the country in many forms. While silver has a significant and growing industrial base in terms of its usage, it is widely used for making intricate jewellery items, coinage, silverware and other artefacts. Many consumers in Kolhapur buy silver gift articles during the wedding season since the white precious metal is believed to bring in good luck. Silver articles are extensively used during various traditional rituals. Not surprisingly, possession of the precious metal is considered a symbol of prosperity and status amongst a significant section of society.

Most middle-class and lower middle-class segments seek the white precious metal as a robust asset and safe haven for investment in the long term. Many small investors in Kolhapur prefer buying silver to gold given the former is more affordable than the yellow metal. Owing to its intrinsic value, silver is recognised across in the world and can, therefore, be easily bought and sold at any location.

Trend of Silver Rate in Kolhapur 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%

Trend of Silver Rate in Kolhapur 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%

Trend of Silver Rate in Kolhapur 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 Kolhapur for August 2018 (rates per gram)

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 on 24 August
Overall Monthly Performance Decline
Percentage Change -2.65%

August 2018- Week 1 (1-5)

  • At the beginning of the month, silver prices in Kolhapur remained stable due to steady local industrial demand and a recovering falling Indian rupee.
  • Silver opened at Rs.41,400 per kg on 1 August. However, the price of the metal fell in the following days as the value of the US dollar increased.
  • Though the demand for the metal was steady, poor overseas trends caused silver rates to fall to Rs.41,000 per kg on 3 August.
  • As the rupee strengthened and the demand for the metal picked up, silver prices increased and closed at Rs.41,300 per kg on 5 August.

August 2018- Week 2 (6-12)

  • Due to volatile markets, silver prices fluctuated throughout week 2. However, the prices regularised over the course of the week.
  • On 6 August, silver continued to trade at Rs.41,300 per kg as the demand for the metal was unaffected.
  • However, on 9 August, the price of the metal fell to Rs.41,400 per kg as the dollar in correspondence to other currencies rose in value. This was also the highest recorded silver rate in Kolhapur recorded for the second time in this month. The value of the metal could incline and hit the highest rate due to high demand and declining value of the US dollar.
  • Due to the political tension between the U.S. and China, global markets fell and the price of silver fell to Rs.41,100 per kg on 10 August.
  • As the demand for the metal stabilized, the price of silver increased and closed at Rs.41,200 per kg on 12 August.

August 2018- Week 3 (13-19)

  • Silver prices remained unaffected on the first day of week 3. It continued to trade at Rs.41,200 per kg on 13 August.
  • Though the international demand for metal was steady, the local industrial demand for silver fell. This led to a drop in silver rates in Kolhapur.
  • On 16 August as the Federal Reserve’s indicated a rate hike, investors refrained from bullion. This caused silver prices to decline and trade at Rs.39,990 per kg.
  • As the domestic demand picked up, a small hike in silver prices was noted. Silver closed at Rs.40,000 per kg.

August 2018- Week 4 (20-26)

  • Silver prices remained unchanged and continued to trade at Rs.40,000 per kg on 20 August. Amidst week trend overseas, the local demand for the metal help the silver prices remain stable.
  • Though the dollar price started recovering and experts expected silver prices in Kolhapur to fall, the local demand for the metal caused silver rates to increase and trade at Rs.40,100 per kg on 22 August.
  • Throughout the month of August, the demand for the metal and the value of the US dollar played a crucial role in determining silver rates in Kolhapur.
  • Silver rates in Kolhapur closed at Rs.40,200 per kg on 26 August.

August 2018- Week 5 (27-31)

  • The last week saw silver prices turn sluggish as demand and market trends pushed prices lower.
  • Silver opened at Rs.40,200 per kg on 27 August on stable local demand.
  • The strain on European markets due to Brexit negotiations and a falling Euro prompted investors to increase bullion purchases. This led to a rise in silver prices when the metal rose to Rs.40,400 per kg on 28 August.
  • Prices fell on demand fluctuations, with the industrial metal trading at Rs.40,300 per kg on 29 August.
  • There was no change in price for the rest of the week, as silver rates closed the month at Rs.40,300 per kg to register a loss of 2.65% on poor demand.

Trend of Silver Rate in Kolhapur 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 from 9 - 10 July
Lowest Rate in July Rs.41,200 per kg from 28 - 29 July
Overall Monthly Performance Decrease
Percentage Change -3.27%

July 2018- Week 1 (1-10)

  • The silver intake in Kolhapur was high, due to which the metal traded at Rs.42,800 per kg on 01 July 2018.
  • On 03 July 2018, a marginal drop in silver prices was noted as the metal traded at Rs.42,400 per kg. The drop in silver prices on this day was mainly due to the drop in demand for the metal in industrial units.
  • On the following days, the price of the metal rose marginally in Kolhapur to Rs.42,800 per kg. However, the local industrial offtake had been fluctuating.
  • On 9 and 10 July, silver rates in the city increased to Rs.42,900 per kg as the demand picked up. This was the highest silver rate recorded for the month of July in Kolhapur.
  • The hike could also be because of positive market trends clubbed with declining dollar rates over other currencies.

July 2018- Week 2 (11-17)

  • At the beginning of week 2 silver prices stood at Rs.42,600 in Kolhapur.
  • The fall in silver prices was constant throughout week 2 unlike week 1.
  • As the industrial demand for silver in Kolhapur reduced further, the metal was traded at Rs.42,200 per kg from 12 - 14 July.
  • The price of the metal increased by Rs.100 per kg and stood at Rs.42,300 per kg on 16 July. Industrial demand for the metal then stabilised and silver price in Kolhapur became steady as well.
  • Due to the decline in dollar value over other currencies, the price of silver in Kolhapur increased towards the end of the week and stood at Rs.42,100 per kg on 17 July.

July 2018- Week 3 (18 - 24)

  • Compared to the previous week, the prices of silver saw a downward curve this week.
  • On 18 July, silver rates dropped by Rs.400 per kg and opened at Rs.41,700 per kg. This can be associated with decreased industrial demand for silver during the same time.
  • On the first day of the week, silver rates dropped by Rs.400 per kg compared to the previous day when the white metal traded at Rs.42,100 per kg.
  • Demand for silver played a huge role throughout the month and determined the silver rates in Kolhapur. When demand from local jewelers, merchants, coin makers, and industrial units dipped, the prices declined. When demand picked up, prices increased too.
  • However, as demand for the metal increased, silver was traded at Rs.41,700 per kg on 21 - 22 July in Kolhapur.
  • On 24 July, silver closed at Rs.41,400 per kg.

July 2018- Week 4 (25 - 31)

  • An increase of Rs.100 per kg was noted on 25 July when silver was traded at Rs.41,500 per kg.
  • Due to the decline of the dollar value, silver prices spiked on 26 July to Rs.41,800 per kg. However, due to poor demand, silver rates dropped in the following days.
  • 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 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 Kolhapur.

Trend of Silver Rate in Kolhapur 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- 5 June
Overall Monthly Performance Stable
Percentage Change 0.00%

June 2018 - Week 1 (1 - 10):

  • When the week began, silver was recorded trading at Rs.42,800 per kg on the 1st with steady demand from local industries and coin manufacturers amid firm overseas trends.
  • With the US dollar gaining against other major emerging currencies, the dollar strengthened. This led to rates dropping to a monthly low of Rs.42,600 per kg on the 2nd.
  • Prices remained untouched at Rs.42,600 per kg until the 5th with subdued local demand amid the poor trend overseas.
  • Silver rates dropped further to Rs.43,600 per kg on the 8th before rebounding to Rs.43,700 per kg the following day.
  • The week came to an end with the industrial metal prices holding firm at Rs.43,700 per kg on the 10th with steady domestic demand coupled with positive trend overseas.

June 2018 - Week 2 (11 - 17):

  • The week opened with silver trading at Rs.43,900 per kg on the 11th with investors capitalising on the previous session’s gains on the commodity markets.
  • Prices rose further to Rs.44,000 per kg amid favourable market cues before plummeting to Rs.43,900 per kg the next day following successful talks at the US-North Korean summit.
  • The US dollar, however, lost its ground after the US dollar index lost against a basket of currencies following the Federal Reserve’s decision to leave the interest rates untouched. This led to demand rising over the next couple of days.
  • Silver was recorded trading at Rs.44,300 per kg on the 14th before surging to a monthly high of Rs.45,000 per kg on the 15th amid favourable market cues coupled with strong industrial demand for the metal.
  • The next couple of days prices dropping to Rs.44,300 per kg with domestic demand stabilising as investors backed down from purchases amid the recovering dollar and gaining equities.

June 2018 - Week 3 (18 - 24):

  • When trading began for the third week, silver was recorded trading at Rs.43,400 per - a drop of Rs.900 - on the 18th after the well-performing US dollar and stock markets led to a decline in investor demand for the metal.
  • Though rates rose to Rs.43,500 per kg on the 19th, prices plummeted to Rs.43,100 per kg the following day with domestic demand capped by the strong greenback.
  • Trading concluded for the week with the white metal prices holding at Rs.42,900 per kg on the 24th with demand flatlined by the strong dollar performances during the week.

June 2018 - Week 4 (25 - 30):

  • When trading began for the final week, silver prices in Bangalore were recorded holding at Rs.43,200 per kg on the 25th with domestic markets on the rise with strong retail demand for the metal.
  • The next two days saw local demand capped by the rising dollar and silver was priced at Rs.43,000 per kg on the 28th.
  • Poor trends overseas coupled with subdued demand from industrial units and coin makers led to silver rates dropping further to Rs.42,800 per kg on the 29th.
  • The month came to an end with the industrial metal priced at Rs.42,800 per kg on the 30th and Bangalore witnessed silver trading closing with no change in the overall monthly performance during the month.

Trend of Silver Rate in Kolhapur 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)

  • Demand for silver was on the increase in the first week of May, with the metal opening the week at Rs.42,000 per kg.
  • Increased demand from industrial units as well as a volatile dollar rate led to a gradual rise in price, with the industrial metal trading at Rs.42,600 per kg on 2 May.
  • Increased tensions between the United States and China over trade led to fluctuating fortunes on the market, which led to higher demand for bullion.
  • Prices remained high as steady demand from local industrial units coupled with positive market cues kept silver rates consistent.

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

  • The second week began with silver trading at Rs.43,200 per kg on 7 May in Kolhapur, as the dollar was volatile ahead of U.S. jobs data.
  • Demand rose steadily as favourable market conditions as well as a low dollar rate led to an increase in orders from overseas as well as local industrial units.
  • Prices rose to Rs.43,500 per kg on 11 May as renewed tensions between the U.S. and China led to the dollar falling, as investors looked to bullion as a safe-haven asset.
  • Demand was consistent as the week ended on 13 May, though there was a slight drop in local industrial demand due to the high price.

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

  • The third week began with silver trading at Rs.43,600 per kg on 14 May as overseas demand for safe-haven assets like bullion grew due to uncertainty over a possible trade war.
  • Prices regularised over the course of the week, with silver rates falling to Rs.43,000 per kg on 16 May amidst a recovery across stock markets.
  • The possibility of an interest rate hike as early as next month led to growing confidence in the dollar, as demand for bullion gradually fell.
  • Local demand was also on the decline, as silver traded at Rs.43,200 per kg on 18 May.
  • The week ended with silver priced at Rs.43,100 per kg on 20 May as coin makers increased demand.

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

  • There was no change in the price of silver as the fourth week began on 21 May, as local demand was stable in spite of a rise in the dollar rate.
  • Prices rose as the fear of the imminent North Korea and U.S. talks being called off led to panic across stock markets, with the dollar also plunging.
  • Silver prices rose to Rs.43,800 per kg on 25 May as the markets continued to trade low in light of the cancellation of the summit.
  • Local demand rose marginally as the week progressed, though silver prices fell to Rs.43,600 per kg as the week ended on 27 May.

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

  • The last week of May saw silver prices fall significantly as the summit between the U.S. and North Korea was back on, which boosted the dollar.
  • Silver was priced at Rs.43,000 per kg on 28 May, as demand weakened sharply over the weekend.
  • Prices rose marginally as silver traded at Rs.43,100 per kg on 29 May amidst a rise in local demand, though the rise was shortlived.
  • Silver fell heavily on 30 May, trading at Rs.42,900 per kg as overseas demand was static due to the stable dollar.
  • The month ended with silver priced at Rs.43,100 per kg on 31 May to record a 2.61% rise in value.

Trend of Silver Rate in Kolhapur 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)

  • Demand for silver in Kolhapur was steady as the week began but fell marginally due to lower demand from industrial units.
  • Silver opened the month trading at Rs.41,400 per kg and rose to Rs.41,600 per kg on 3 April as there was an increase in orders from coin makers.
  • Favourable market conditions and a weakening of the U.S. Dollar led to a rise in demand from Asian industrial units which kept Silver price in Kolhapur stable.
  • A rally by equity markets coupled with a steady increase in the dollar rate led to a slight decline in demand for the industrial metal, as prices fell to Rs.41,000 per kg on 5 April.
  • A marginal increase in price was recorded as the week came to a close with silver priced at Rs.41,200 per kg on 7 April.

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

  • Unsteady equity markets and a fluctuating dollar rate led to increased demand for the industrial metal in the second week.
  • Silver was priced at Rs.41,200 per kg on 8 April in Kolhapur as local industrial demand was steady due to a weak U.S. Dollar.
  • The suspected chemical attack in Syria led to equity markets falling sharply which led to an increase in bullion buying.
  • Silver price in Kolhapur climbed to Rs.41,700 per kg on 11 April as local demand from coin makers also increased which boosted prices.
  • Asian demand for the industrial metal was also on the rise and resulted in silver rates rising to Rs.42,000 per kg on 12 April.
  • Slight fluctuations in overseas demand led to silver rate in Kolhapur falling to Rs.41,900 per kg as the week ended on 15 April.

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

  • Continued tensions over the U.S.-led intervention in Syria led to markets and currencies falling across the globe, as investors rushed to invest in bullion.
  • Silver price in Kolhapur opened at Rs.42,100 per kg on 16 April as investors assessed the impact of the airstrikes.
  • Local demand for the industrial metal was stable as silver prices rose to Rs.42,500 per kg on 18 April as coin makers also increased orders.
  • The continuing trade tensions between the U.S. and China also led to market turbulence and an increase in bullion investment.
  • Silver rate in Kolhapur jumped to Rs.43,700 per kg on 19 April as the dollar tumbled and equity markets dropped sharply.
  • The end of the week saw a continued rise in rates as silver traded at Rs.43,800 per kg on 22 April.

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

  • The last week of April saw demand for silver fall slightly as equity markets recovered from their earlier losses and global currencies also bounced back.
  • Silver opened the week at Rs.43,700 per kg on 23 April but saw a sharp decline in price as local industrial demand fell due to order saturation.
  • Favourable economic data from the U.S. and a lessening of tensions between the U.S. and China also led to markets rising.
  • Silver price in Kolhapur fell throughout the week to end the month at Rs.42,300 per kg on 30 April.

Trend of Silver Rate in Kolhapur 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)

  • Kolhapur recorded silver trade on a positive note this month, courtesy of strong cues from the local market.
  • When the month began, the white metal was priced at Rs.41,100 per kg which went up to Rs.41,400 per kg as demand surged.
  • Demand picked up on the 3rd as well and silver rates went up to Rs.41,600 per kg before continuing at the same rate on the final day of this week.

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

  • Change in overnight trading cues helped silver rates to rise up to Rs.41,700 per kg when the second week of March began as the dollar declined.
  • However, prices fell over the next few days due to poor demand and subsequent drop in sales volumes.
  • On the 6th, silver rates in Kolhapur went down to Rs.41,400 per kg as the US dollar mounted a recovery and market stabilised.
  • A massive rise in local demand pushed silver prices up to Rs.41,900 per kg on the 7th - the month’s highest rates - as industrial units and coin markets increased their offtake.
  • Cues weakened for the next few days and silver traded at Rs.41,500 per kg on the 8th before dropping to Rs.41,300 per kg on the 9th.
  • A slight change in demand helped silver rates go up to Rs.41,600 per kg and continue at this rate for the remainder of the week.

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

  • The third week of March began with silver prices holding at Rs.41,600 per kg before falling to Rs.41,400 per kg on the 13th.
  • This day’s fall occurred due to the strong US jobs data, which wasn’t expected to be as robust as it turned out.
  • On the 14th, prices surged to Rs.41,700 per kg as global cues rocketed ahead of the latest uncertainty caused by US president Donald Trump.
  • The white metal’s prices dropped for the next few days and came to a half at Rs.41,000 per kg on the final day of the week.

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

  • The steady fall over the previous week was capped by a steady rise over this week. When markets opened, silver was priced at Rs.41,000 per kg.
  • This went up to Rs.41,200 per kg the next day before falling back to Rs.41,000 per kg on the 21st of March.
  • As demand from coin makers and industrial units surged, silver prices went up to Rs.41,500 per kg on the 22nd, and then to Rs.41,600 per kg on the 23rd.
  • Thanks to a steady demand, silver continued to trade at Rs.41,600 per kg on the final day of this week, i.e., the 25th.

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

  • The final week of March opened with silver trading at Rs.41,600 per kg. But, as there was a possible trade war between the US and China, silver rates went up to Rs.41,800 per kg on the 27th.
  • Fears of the trade war eased soon and silver rates dropped to Rs.41,500 per kg on the 28th due to low demand.
  • The US dollar improved and, as a result, demand dropped. On the final day of March, silver traded at Rs.41,400 per kg.

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

Parameters Silver price (per kg)
Silver Rate on 1st February 2018 Rs.42,600 per kg
Silver Rate on 28th February 2018 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):

  • When trading began in Kolhapur, silver prices were recorded holding at Rs.42,600 per kg - the highest recorded monthly price - on the 1st amid firm overseas trends.
  • Thanks to steady demand from industries and coin makers, prices remained unaltered at Rs.42,600 per kg on the 2nd.
  • However, with the US employment data reporting an incline in the number of jobs, the US dollar rose. This led to silver prices plunging to Rs.41,700 per kg on the 3rd.
  • The week concluded with the white metal trading at Rs.41,700 per kg on the 4th with steady but subdued demand from industrial units and coin makers amid weak global cues.

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

  • The second week began with the industrial metal priced slightly lower at Rs.41,500 per kg on the 5th after the strengthening dollar and equities led to a decline in demand for the white metal.
  • The 6th saw silver rates rebounding to Rs.41,900 per kg after an increase in demand was brought about by a positive trend overseas.
  • Demand, however, couldn’t keep up against the rising US dollar index and silver prices plunged to Rs.41,500 per kg on the 7th.
  • Poor trends overseas coupled with reduced domestic demand led to silver rates dropping further to Rs.40,800 per kg the following day.
  • The 9th saw silver prices in Kolhapur rising slightly to Rs.41,000 per kg after industries and coin manufacturers ramped up purchases to stock their inventories.
  • With the US dollar index strengthening against a basket of other emerging currencies amid the well-performing equity markets, silver rates plummeted to Rs.40,600 per kg - the lowest recorded monthly figure - on the 10th.
  • The week came to an end with the industrial metal prices holding steady at Rs.40,600 per kg with reduced domestic demand coupled with poor global cues.

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

  • The third week saw silver rates rising significantly on account of world markets tracking a positive trend ahead of US inflation data.
  • Silver was priced at Rs.40,900 per kg on the 12th when the week began amid firm trends overseas.
  • With stockists and traders eyeing on the US inflation data for clues on the pace of the US interest rate hikes by the central bank, the dollar weakened. This led to silver rates in Kolhapur rising to Rs.41,300 per kg on the 13th amid positive global cues.
  • Strong trends overseas coupled with increased domestic demand from industrial units and coin manufacturers led to silver prices rising to Rs.41,400 per kg on the 14th.
  • The 15th saw rates surging to Rs.41,800 per kg after demand for safe-haven assets such as silver rose following the release of the highly anticipated US inflation data.
  • With traders and investors gravitating on investments considered safe amid the inflation concerns, silver was priced at Rs.41,700 per kg on the 16th.
  • Thanks to steady global safe-haven demand for the metal, prices remained untouched at Rs.41,700 per kg until the 18th.

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

  • When trading commenced for the fourth week, the white metal prices were recorded holding at Rs.41,600 per kg on the 19th after the strong US greenback and equities led to a decline in demand for the metal.
  • Poor global trends coupled with reduced industrial demand led to silver being priced at Rs.41,200 per kg on the 21st.
  • The dollar, however, lost against a basket of other emerging currencies after the inflation data indicated a possible government shutdown in the US. This led to silver prices rebounding to Rs.41,400 per kg on the 22nd amid the positive trends overseas.
  • Prices rose further to Rs.41,600 per kg on the 23rd before stabilising at Rs.41,500 per kg on the 24th with steady demand from industries and coin makers around the world.
  • The week concluded with the white metal prices holding steady at Rs.41,500 per kg on the 25th tracking a firm trend overseas.

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

  • The final week began in Kolhapur with silver trading on a stronger note at Rs.41,600 per kg on the 26th.
  • With markets cautious ahead of the US Fed chief’s first congressional speech, the US dollar lost against other apex currencies. This led to silver prices surging to Rs.41,700 per kg on the 27th.
  • However, with Jerome Powell the new US Federal Reserve chairman promising the country to save its economy from worsening any further while sticking on to the planned number of interest rate hikes, the US dollar regained lost ground. This led to silver being priced at Rs.41,200 per kg on the last day.
  • Silver trade in Kolhapur recorded a decline of 3.28% in silver rates owing to the poor overseas trends that pushed demand lower during the course of the month.

Trend of Silver Rate in Kolhapur for January 2017 (rates per kg)

Parameters Silver price (per kg)
Silver rate on 1st January 2018 Rs.39,110 per kg
Silver rate on 31st January 2018 Rs.42,200 per kg
Highest Rate in January Rs.43,100 per kg from 26 to 28 January
Lowest Rate in January Rs.38,925 per kg on 2 and 10 January
Overall Monthly Performance Incline
Percentage Change 7.90%

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 Kolhapur 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 prices 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 Kolhapur 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 rates 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 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 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 Kolhapur

Silver has a store of value and therefore, considered a safe form of investment. For many customers, the white precious metal not only adds stability but also helps diversify their investment portfolios. Most consumers increasingly turn to precious metals such as silver given that it can be easily sold during times of economic uncertainty and crises.

Physical silver: For most customers, the easiest way to invest in silver is to buy it in various physical forms such as bars and coins which are widely available in standard denominations in Kolhapur. Silver is bought in the form of trendy silverware, artefacts and gift articles in addition to traditional ornaments.

Silver contracts: Customers can trade silver futures on the National Commodity and Derivatives Exchange (NCDEX) and Multi Commodity Exchange (MCX). Silver micro is traded in 1 kg. Various charges such as exchange levy and stamp duty among others have to be borne by customers.

Silver rates in Kolhapur

The rate of the white precious metal has been on the decline since January 2015. The price of silver which was pegged at Rs.39166 in the month of January, decreased by -2.2% at Rs.38,300. Barring minor fluctuations, the price of the white precious metal followed a downward trajectory in the months of March and April at Rs.37483, Rs.37056 respectively. Silver rates, however, rose marginally in Kolhapur in the month of May by 3.8% at Rs.38480. The price of silver slid in the months of August and September at Rs.36280 and Rs.36105 respectively. 1 kg of silver was pegged at Rs. 34,415.00 in December.

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