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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 July 2017 (rates per kg)
|Parameters||Silver price (per kg)|
|July 1st Rate||Rs.38,640 per kg|
|July 31st Rate||Rs.38,640 per kg|
|Highest Rate in July||Rs.38,690 per kg on 3 July|
|Lowest Rate in July||Rs.36,035 per kg on 10 July|
|Overall Monthly Performance||No change|
Trend of Silver Rate in Kolhapur for June 2017 (rates per kilogram)
|June 1 Rate||Rs.40,285 per kg|
|June 30 Rate||Rs.38,995 per kg|
|Highest Rate in June||Rs.40,890 per kg on 7 June|
|Lowest Rate in June||Rs.38,455 per kg on 21 and 27 June|
|Overall Monthly Performance||Decline|
June'17 - Week 1 (1st - 4th)
- Silver prices in Kolhapur saw a significant decline this month due to poor demand from the concerned parties.
- On the 1st of June, silver was trading at Rs.40,285 per kg, but decreased to Rs.39,950 per kg due to a fall in demand.
- The white metal’s prices were on the ascent on the 3rd as a result of an increased buying from local industries and coin makers.
- Rates went up to as high as Rs.40,670 per gram on the 3rd and traded at the same rate on the 4th as well, thanks to a steady demand.
June '17 - Week 2 (5th - 11th)
- In Kolhapur, the second week of June commenced with silver priced at Rs.40,670 per kg and carry on at the same rate on the 6th.
- The 7th saw prices reach a monthly high of Rs.40,890 per kg - as European Central Bank convened for a meeting.
- Other major events like the UK elections and the dollar value declining also had an impact on silver prices this week.
- After the key events of the 7th were out of the way, silver rates declined slightly to Rs.40,725 per kg on the 8th.
- This week also saw the emergence of a positive US job data, which affected silver prices considerably.
- The price of the metal dropped consistently towards the later half of the week as it went to Rs.40,285 per kg on the 9th.
- Rates fell further to Rs.40,060 per kg on the 10th due to demand for the metal falling further.
June'17 - Week 3 (12th - 18th)
- Silver rates fell consistently during this week as demand took a hit amidst a strengthening US dollar.
- The week began with silver trading at Rs.39,680 per kg.
- Rates dropped further down to Rs.38,995 per kg by the 16th as demand was on a constant descent.
- Over the 17th and the 18th, however, demand for the metal consolidated to trade at Rs.38,460 per kg.
June '17 - Week 4 (19th - 25th)
- The fourth week of June began on a positive note as the metal was seen trading at Rs.38,640 per kg.
- As demand declined, silver rates reached a monthly low of Rs.38,455 per kg on the 21st but inclined to reach as high as Rs.38,925 per kg by the end of the week.
June'17 - Week 5 (26th - 30th)
- The final week of June saw silver rates fluctuate for the most part due to unstable demand.
- When the week started on the 26th, silver prices were recorded at Rs.38,925 per kg but went down to the monthly low figure of Rs.38,455 per kg on the 27th.
- As the introduction of GST was imminent, silver prices picked up slightly with industrial units and coin makers trying to make the most of the situation.
- Due to increased buying, silver prices went up to Rs.39,115 per kg on the 28th and remained there for the 29th as well.
- The last day of the month, however, prices drop to Rs.38,995 per kg as demand fell.
- Despite some increased purchases towards the end of the month, silver rates in Kolhapur decline by 3.20% in June.
Trend of Silver Rate in Kolhapur for May 2017 (rates per kg)
|May 1st Rate||Rs.40,040 per kg|
|May 31st Rate||Rs.40,060 per kg|
|Highest Rate in May||Rs.40,520 per kg on 30th of May|
|Lowest Rate in May||Rs.37,705per kg on the 10th and 11th May|
May ’17 – Week 1 (1st – 7th)
- Silver traded on the 1st day of the month in Kolhapur at Rs.40,040 per kg. This rate, however, was not sustained due to reduction in the demand for this metal.
- Reducing demand for safe-haven bullion due to the rallying of Asian equities along with a rise in the value of the U.S. Dollar resulted in a fall in the rate of silver.
- This metal was priced at Rs.39,115 per kg on the 2nd May in Kolhapur before falling to be priced at Rs.38,925 per kg on May 3rd.
- There was a decline in the demand for this metal from coin makers and industrialists resulting in the rate of silver reducing.
- The rate of the U.S. Dollar rose which resulted in the decline in the rate of silver. This metal traded at Rs.37,965 per kg on the 5th of the month which was the lowest rate at which this metal was priced, for the month of May.
- There was, however, a slight recovery noted in the price of this metal as the month came to an end with silver being priced at Rs.38,005 per kg on the 6th as well as the 7th of May due to slow but steady demand.
May ’17 – Week 2 (8th – 14th)
- Emmanuel Macron’s win, a pro-EU candidate, in the French Presidential election resulted in the strengthening of the Euro which in turn had an impact on the price of silver.
- On the 8th of May, silver was priced at Rs.37,965 per kg but reduced marginally the next day to trade at Rs.37, 865 per kg.
- There were a large number of variations noted in the rate of silver was the week progressed due to varying demand from coin makers and industrialists.
- On the 10th and 11th of May in Kolhapur, this metal was priced at Rs.37,705 per kg which was also the lowest at which silver was priced during the month of May in the city of Kolhapur.
- On the 14th of the month in Kolhapur, silver traded at Rs.37,865 per kg.
May ’17- Week 3 (15th – 21st)
- During the third week of the month, it was noted that the demand for this metal increased as the value of the U.S. Dollar reduced. This also meant that a rise in the rate of silver was witnessed.
- Silver was priced at Rs.38,230 per kg on May 15th, and increased the next day to trade at Rs.38,640 per kg.
- Weak manufacturing data from the U.S. decreased expectations of interest rate hike by the U.S. Fed, resulting in a rise in silver rate in Kolhapur.
- Silver was priced at Rs.38,995 per kg on the 17th of May and increased to Rs.39,265 per kg on the 18th.
- As the demand for silver increased, the price of silver increased to trade at Rs.39,115 per kg.
May ’17 – Week 4 (22nd – 28th)
- Due to fluctuations in the demand for this metal from industrialists, the price of silver varied throughout the fourth week of May in the city of Kolhapur.
- Silver traded at Rs.39,265 per kg on the 22nd of May before rising to trade at Rs.40,040 per kg on the 23rd of May.
- As Asian stocks gained, the rate of silver started to slightly fall with silver trading at Rs.39,670 per kg on the 24th of May.
- A slight increase in the price of silver saw this metal trading at Rs.39,950 per kg on the 25th and 26th of May due to steady demand from coin makers.
- The rate of silver rose due to higher demand on the last two days of the fourth week with silver trading at Rs.40,190 per kg.
May ’17 – Week 5 (29th – 31st)
- Due to variations in the demand, the rate of this metal varied during the final week of May in Kolhapur.
- Easing Asian stock markets resulted in a slight increase in the rate of silver.
- This metal was priced at Rs.40,285 per kg on the 29th of the month before rising to a monthly high of Rs.40,520 per kg on the 30th of May.
- On the last day of May in Kolhapur, silver traded at Rs.40,060 per kg, recording an incline of 0.04% in the price.
|April 1st Rate||Rs.42,570 per kg|
|April 30th Rate||Rs.40,040 per kg|
|Highest Rate in April||Rs.43,055 per kg on 15th & 16th April|
|Lowest Rate in April||Rs.40,040 per kg on 29th & 30th April|
April ’17- Week 1 (1st to 9th)
- Silver prices in Kolhapur were on the ascent in the first week of Kolhapur as demand increased due to favourable market conditions.
- Silver was priced at Rs.42,570 per kg on 1st April as industrial demand was steady, with the price rising to Rs.42,730 per kg on 4th April.
- A dip in market performance due to geopolitical uncertainty in the U.S. led to an increase in demand, as the U.S. Dollar value also dropped marginally.
- Silver prices fluctuated in spite of a declining U.S. Dollar due to a drop in demand, as the week ended with silver priced at Rs.42,640 per kg on 9th April.
April ’17 – Week 2 (10th to 16th)
- Prices in the second week of April rose as a combination of factors led to a rise in demand.
- Silver prices fell slightly as the week began, trading at Rs.41,625 per kg on 10th April but soon recovered as industrial demand rose.
- U.S. markets continued to trade lower than expected, resulting in an increase in demand for the metal, which pushed prices to Rs.42,775 per kg on 13th April.
- An increase in local demand and higher export volumes due to a flagging U.S. Dollar led to silver rising to Rs.43,030 per kg on 14th April.
- The week ended with silver trading at Rs.43,055 per kg on 16th April as weak markets and a low U.S. Dollar led to increased demand for the metal.
April ’17 – Week 3 (17th to 23rd)
- Silver prices began to fall as demand stagnated on account of a market revival which saw the U.S. Dollar rate also increase.
- Silver traded at Rs.43,030 per kg on 17th April, but prices began to fall as global markets took their cues from a recovering U.S. market, which lowered demand for silver.
- Prices fell to Rs.42,435 per kg on 20th April as local demand also fell, with coin makers reducing demand as import costs began to rise.
- Silver was priced at Rs.41,980 per kg as the week ended on 23rd April, with a recovering market and a slowing down of overseas industrial demand attributed as reasons behind the drop in price.
April ’17 – Week 4 (24th to 30th)
- Silver continued to fall in the final week of April as local demand stagnated and overseas demand also slowed down.
- Silver was priced at Rs.42,625 per kg on 24th April, with the price falling to Rs.40,520 per kg on 25th April as European markets also posted gains following favourable news regarding the upcoming French presidential election.
- Rising import costs led to a decline in demand from Asian industrial units, which pushed silver prices to a low of Rs.40,190 per kg on 28th April.
- The month ended with silver failing to recover from its slump, as it traded at Rs.40,040 per kg on 30th April to register an overall loss of 5.94% over the course of the month.
|March 1st Rate||Rs.43,970 per kg|
|March 31st Rate||Rs.42,115 per kg|
|Highest Rate in March||Rs.44,100 per gram on 2nd March|
|Lowest Rate in March||Rs.40,520 per kg on the 11th and 12th of March|
March ‘17 - Week 1 (1st to 5th)
- Silver traded at Rs.43,970 per kg in Kolhapur which was quite a high rate as compared to other cities in the country. This is due to sustained and high demand for this metal.
- Due to increased demand for silver from industrialists and jewellers, the rate of silver rose to its monthly high of Rs.44,100 per kg.
- However, this demand was not sustained and the rate of silver reduced considerably to trade at Rs.42,730 per kg on the second.
- There was a slight rise in the demand for silver because of which the rate silver increased to Rs.43,295 per kg.
- On the last day of the week, this metal was priced at Rs.43,295 per kg.
March ‘17 - Week 2 (6th to 12th)
- The demand for silver was not as sustained as compared to the previous week and rates fell to trade at Rs.42,925 per kg on the first day of the second week of March in Kolhapur.
- As the demand continued to fall, the rate of silver in Kolhapur proportionally as well.
- Silver traded at Rs.41,900 per kg on the 8th of March which was followed by Rs.41,435 per kg on the 9th of March.
- On the last two days of the second week of March, silver traded at Rs.40,520 per kg. This was also the lowest at which silver traded during the month of March.
March ’17- Week 3 (13th to 19th)
- Silver price in Kolhapur on the opening day of the third week of March in Kolhapur was relatively higher than that noticed during the previous week. Silver traded at Rs.40,760 per kg on the 13th of March.
- Silver rate in Kolhapur continued to reduce with the metal trading at Rs.40,440 per kg on the 14th of March and reducing even further the next day.
- Due to positive cues from international markets, silver marginally recovered to trade at Rs.40,890 per kg on the 16th but this recovery could not be sustained.
- On the last day of the week, silver traded at Rs.40,815 per kg.
March ’17- Week 4 (20th to 26th)
- Silver traded at Rs.40,075 per kg on the 20th before recovering slightly to trade at Rs.41,230 per kg on the 22nd of March.
- Due to a slight increase in demand, the price of silver in Kolhapur was Rs.41,340 per kg and continued to rise on the 24th as well.
- However, this demand was not sustained and the rate of silver fell.
- On the last two days of the fourth week of March, silver traded at Rs.41,340 per kg.
March ’17 – Week 5 (27th to 31st)
- A marginal increase in demand resulted in silver trading at Rs.41,900 per kg on the 27th and increased to Rs.42,115 per kg on the 28th. This rate was seen the next day as well.
- The rate of silver in Kolhapur increased marginally on the 30th before falling again due to a rise in the value of the U.S.Dollar.
- Silver closed the month of March in Kolhapur by trading at Rs.42,115 per kg showing a decline of 4.23% in the rate of silver.
|February 1st Rate||Rs. 42,520 per kg|
|February 28th Rate||Rs. 44,165 per kg|
|Highest Rate in February||Rs. 44,165 per kg on 28th February|
|Lowest Rate in February||Rs. 42,115 per kg on 3rd February|
February 2017 - Week 1 (1st -5th):
- There were a few minor fluctuations seen during the first week of February.
- On the first day of the month, silver traded at Rs.42,520 per kg. However, due to higher demand from coin makers, this rate went up to Rs.42,640 per kg, thanks to the sudden rise in industrial demand.
- This demand could not be sustained however and on the 3rd of February, the rate of silver plunged to a monthly low of Rs.42,115 per kg.
- At the end of the week on 4th, silver rates went up to Rs.42,355 per kg on 4th as prices seemed to go up slightly.
February 2017 - Week 2 (6th - 12th):
- On the first day of the second week of February, the rate of silver was Rs.42,355 per kg. However, due to a spike in demand from markets abroad, the rate of silver increased by Rs.165 to hit Rs.42,520 per kg on the 6th.
- On the 7th, prices increased again to reach Rs.42,930 per kg which was an increase of Rs.410 per kg as compared to the rate of the previous day.
- Due to a rise in the value of the U.S. Dollar, rate of silver went down marginally to Rs.42,920 per kg on 8th. There was however a rise in the rate of silver with this metal trading at Rs.42,950 per kg on the 9th.
- On 10th, prices hit the lowest for the week to trade at Rs.42,375 per kg.
- Rate of silver recovered on the last day of week 2 to trade at Rs.42,570 per kg as demand increased.
February 2017 - Week 3 (13th - 19th):
- When trading began on 12th, silver was priced at Rs.42,570 per kg and increased by Rs.710 to trade at Rs.43,280 per kg on 13th.
- The 14th saw prices go down as whatever factors brought about the rise wasn’t there to be see again.
- The final three days of week 3 in Kolhapur witnessed prices increase as demand went up.
- On 15th, silver was priced at Rs.43,385 per kg which later went up to Rs.43,520 per kg on 16th.
- Week 3 ended on 18th as silver rates declined to go down to Rs.43,400 per kg.
February 2017 - Weeks 4 & 5 (20th - 28th):
- Over the fourth week of February, silver prices still saw fluctuations despite the fact that demand was high.
- When trading began on 19th, silver traded at Rs.43,400 per kg but reduced the next day trade at to Rs.43,270 per kg on 20th due to a reduction in demand.
- Prices went up on the 23rd to Rs.43,295 per kg and then to Rs.43,680 per kg on 24th.
- As the week came to an end, the rate of silver started to rise due to an increase in the demand for this metal.
- When trading began on 25th, silver was priced at Rs.43,910 per kg and then increased to Rs.44,110 per kg on 27th.
- On the last day of February, silver continued to trade at Rs.44,165 per kg due to sustained demand.
- A rise of 3.86% was seen in the rate of silver for the month of February.
|January 1st Rate||Rs.39,035 per kg|
|January 31st Rate||Rs.41,980 per kg|
|Highest Rate in January||Rs.42,180 per kg on 23rd January|
|Lowest Rate in January||Rs.39,035 per kg on 1st January|
January ‘17 - Week 1 (1st to 7th)
- The price of silver in Kolhapur was on the ascent in the first week of January due to increasing demand.
- Silver was priced at Rs.39,035 per kg on 1st January and rose to Rs.39,530 per kg on 3rd January as local demand rose.
- Prices continued to rise as fluctuations in the markets led to greater demand for silver.
- Silver ended the week trading at Rs.40,390 per kg on 7th January, registering an increase of Rs.1,355 per kg during the week.
January ‘17 - Week 2 (8th to 14th)
- The price of silver in the second week also saw a rise in price due to continuing demand from the industrial sector and coin makers, with silver opening the week at Rs.40,390 per kg on 8th January.
- Prices rose to Rs.41,295 per kg on 11th January, steadily increasing as markets fluctuated, which led to an increase in demand for the metal.
- Silver traded at Rs.41,030 per kg on 13th January as a slight dip in demand led to prices slipping.
- There was a marginal recovery as the week ended, with silver trading at Rs.41,230 per kg on 14th January to register a weekly increase in price of Rs.840 per kg.
January ’17- Week 3 (15th to 21st)
- Prices were volatile in the third week due to market conditions, which led to fluctuations in demand.
- Silver was priced at Rs.41,230 per kg on 15th January and rose in the subsequent days on strong demand.
- Silver traded at Rs.41,990 per kg on 18th January before falling due to a dip in industrial demand.
- Prices in the third week were subject to market fluctuations due to conflicting cues from international markets.
- Prices fell to Rs.41,675 per kg on 20th January but rose as the week ended, trading at Rs.41,930 per kg on 21st January.
January ’17- Weeks 4 & 5 (22nd to 31st)
- Uncertainty over the U.S. fiscal policy and demand fluctuations resulted in silver trading at Rs.41,930 per kg on 22nd January.
- Prices rose to a monthly high of Rs.42,180 per kg on 23rd January on strong demand from Asian markets, but fell as the week progressed.
- A rally by U.S. markets led to silver prices falling to Rs.41,435 per kg on 26th January.
- The U.S. Dollar rose in anticipation of positive news from the upcoming U.S. Fed meeting, resulting in demand for silver falling as it traded at Rs.41,075 per kg on 27th January.
- Prices recovered as the month ended, with silver trading at Rs.41,980 per kg on 31st January to record an overall rise in price of 7.54%.
|December 1st Rate||Rs.40,450 per kg|
|December 31st Rate||Rs.39,035 per kg|
|Highest Rate in December||Rs.41,630 per kg on 8th December|
|Lowest Rate in December||Rs.38,700 per kg on 23rd December|
December '16 - Week 1 (1st to 4th)
- The price of silver in Kolhapur was Rs.40,450 on 1st December as demand began to increase.
- The U.S. Dollar performed poorly, which increased demand for bullion.
- Domestic demand also appeared to be increasing in spite of the currency shortage, which boosted demand for silver and kept prices high.
- Silver ended the week trading at Rs.41,070 per kg on 4th December, registering a significant rise in price.
December '16 - Week 2 (5th to 11th)
- The second week of December saw prices continue to rise as industrial demand was high.
- Silver traded at Rs.41,055 per kg on 5th December as demand rose due to fluctuating markets.
- Prices dipped slightly mid-week but recovered as demand increased, trading at a monthly high of Rs,41,630 per kg on 8th December.
- Prices stabilised towards the end of the week, trading at Rs.41,345 per kg on 11th December.
December '16 - Week 3 (12th to 18th)
- A dip in the price of silver was observed due to declining demand from the domestic and international markets.
- Silver traded at Rs.41,345 per kg on 12th December, falling to Rs.40,605 per kg on 15th December as stock markets recovered, which led to bullion demand falling.
- Prices continued to drop for the rest of the week, as domestic demand also waned due to an appreciating Rupee.
- Silver was priced at Rs.39,305 per kg on 18th December, recording a steep fall in price due to weakening demand.
December '16 – Week 4 (19th to 25th)
- The week before Christmas saw silver prices fall further as demand dropped.
- Silver was priced at Rs.39,435 per kg on 19th December as investors put off silver purchases due to stable stock markets across the globe.
- Increased retail spending also bolstered global currencies, which reduced silver bookings.
- Siler dropped to its lowest rate for the month, trading at Rs.38,700 per kg on 23rd December before recovering marginally to end the week at Rs.38,725 per kg on 25th December.
December '16 – Week 5 (26th to 31st)
- As the year drew to a close, demand for silver fluctuated due to market conditions.
- Silver was priced at Rs.38,460 per kg on 26th December, with the price rising as the U.S. Dollar slumped on news that the Fed interest rate hike had been postponed.
- Prices rose marginally as demand from coin makers increased due to favourable market conditions.
- Prices rose to Rs.39,630 per kg on 30th December before falling to close the year at Rs.39,035 per kg on 31st December.
- Silver registered an overall loss of 3.49% for the month of December.
|November 1st Rate||Rs.42,910 per kg|
|November 30th Rate||Rs.41,055 per kg|
|Highest Rate in November||Rs.44,960 per kg on 9th November|
|Lowest Rate in November||Rs.40,190 per kg on 25th November|
November '16 - Week 1 (1st to 6th)
- The price of silver was stable as demand from industry was consistent.
- Silver traded at Rs.42,910 per kg on 1st November, with the price rising to Rs.44,385 per kg on 2nd November as markets fluctuated, leading to higher demand for silver.
- The upcoming U.S. election led to the U.S. Dollar weakening, resulting in higher demand for silver.
- The festive season also led to increased demand from jewellers and the retail sector.
- Silver traded at Rs.44,180 per kg on 6th November.
November '16 - Week 2 (7th to 13th)
- The surprise election of Donald Trump as U.S. President led to markets crashing, keeping interest in silver high.
- Silver traded at Rs.42,685 per kg on 7th November, with the price fluctuating as the week progressed.
- The announcement of the demonetisation of Rs.1,000 and Rs.500 notes led to panic on the bourses, leading to investors to put their money in silver as a safe haven investment.
- The price fell as the week ended as demand began to fall due to a shortage of legal tender.
- Silver traded at Rs.42,005 per kg on 12th November.
November '16 - Week 3 (14th to 20th)
- The third week saw silver prices continue to slide due to a dip in demand.
- Silver was priced at Rs.42,005 per kg on 13th November as international demand also began to fall due to a rising U.S. Dollar.
- New measures enacted as a result of the demonetisation policy kept buyers away from silver, further damaging its value.
- Silver traded at Rs.40,735 per kg on poor demand as markets rallied.
November '16 - Week 4 and 5 (21st to 30th)
- The currency shortage continued during the last two weeks, resulting in the demand for silver all but ceasing.
- Silver was priced at Rs.40,890 per kg on 21st November and saw some minor increases, though the general trend was towards a lowering of the rate.
- Markets recovered as the possibility of a Fed hike in the near future bolstered the bourses and the U.S. Dollar, which further reduced the demand for silver.
- Silver fell to a monthly low of Rs.40,190 per kg on 25th November before recovering to close the month at Rs.41,055 per kg on 30th November.
|October 1st Rate||Rs.45,900 per kg|
|October 31st Rate||Rs.43,035 per kg|
|Highest Rate in October||Rs.45,900 per kg on 1st and 2nd October|
|Lowest Rate in October||Rs.41,685 per kg on 7th October|
October ’16- Weeks 1 & 2 (1st-9th)
- Silver was priced at Rs.45,900 per kg on 1st October as both domestic as well as international demand was high.
- A rally by the markets led to prices falling as demand dropped.
- The price of silver fell further towards the end of the week as the U.S. Dollar strengthened, lowering demand for the metal.
- Silver traded at Rs.41,800 per kg on 9th October, a decrease of Rs.4,100 per kg from the price at the start of the week.
October ’16- Week 3 (10th-16th)
- Silver prices recorded a slight increase in price due to an upsurge in demand for silver by jewellers due to the ongoing festive season.
- Silver traded at Rs.42,600 per kg on 10th October as international demand for silver rose in response to a dip in the markets.
- Prices fell marginally as the week ended due to a dip in industrial demand.
- Silver traded at Rs.41,780 per kg on 16th October, a decrease of Rs.820 per kg from the price at the start of the week.
October ’16- Week 4 (17th-23rd)
- Silver was priced at Rs.41,970 per kg on 17th October as priced increased due to an increase in demand.
- Markets fell as the U.S. Dollar dropped against other currencies due to weaker than expected economic data.
- Prices continued to climb throughout the week on steady demand from the domestic market.
- Silver was priced at Rs.42,130 per kg on 23rd October, marking an increase of Rs.160 per kg from the start of the week.
October ’16- Week 5 (24th-31st)
- The last week of October saw silver prices remain more or less constant due to steady demand.
- Silver was priced at Rs.42,330 per kg on 24th October as markets continued to fall due to uncertainty over the upcoming U.S. elections.
- Asian stock markets also fell as Chinese economic data was disappointing, leading to heightened demand for silver.
- Siler traded at Rs.43,035 per kg on 31st October, an increase of Rs.705 per kg from the price at the beginning of the week.
|1st Day||Rs.45,225 per kilogram|
|Last Day||Rs.45,750 per kilogram|
|Highest Price||Rs.47,820 per kilogram on 7th September|
|Lowest Price||Rs.45,225 per kilogram on 1st September|
September '16 - Week 1 (1st to 4th)
- Silver prices rose up in the beginning of the month amid expectations of the Fed rate hike dampening.
- The U.S. economic data depicted that the rate hike by Federal Reserve may not be possible this month.
- The beginning of the month for silver opened with Rs.45,225 per kilogram.
- On the 3rd and 4th of September, silver traded at Rs.46,760 per kilogram.
- The overall weekly incline in silver prices was recorded at 3.39%.
September '16 - Week 2 (5th to 11th)
- Week 2 of September saw fluctuation in silver prices owing to ambiguity in the Fed rate hike.
- Silver traded at Rs.46,760 per kilogram on 5th of September.
- Silver reached its highest at Rs.47,820 per kilogram on 7th of this week.
- As the possibility of a rate hike grew stronger, silver fell to Rs.46,835 per kilogram on 10th and 11th of this month.
September '16 - Week 3 (12th to 18th)
- The third week continued to see silver drop owing to the weak global market trend.
- Silver was recorded at Rs.45,715 per kilogram on 12th September.
- Demand for silver fell thanks to the downfall in the offtake from industrialists and coin makers.
- By the end of week 3, silver slipped by Rs.1,465 per kilogram and reached Rs.45,370 per kilogram on 17th and 18th of September.
September '16 - Week 4 (19th to 25th)
- With the Fed rate hike being put on hold because of presidential elections being in full swing, the silver prices for the week went up.
- Silver closed at Rs.46,110 per kilogram on 19th.
- On 22nd September, silver reached its peak at Rs.47,590 per kilogram.
- Although demand for silver was on the rise, its prices fell to Rs.47, 535 per kilogram on 23rd of the month and maintained the same rate for the remainder of the week.
September '16 - Week 5 (26th to 30th)
- The silver market received very little industrial support resulting in its prices to fall down.
- Silver traded at Rs.46,950 per kilogram on 26th September.
- The dollar became stronger resulting in a weak global market trend.
- On 30th September, silver prices fell to Rs.45,750 per kilogram.
- Although silver displayed a downward trend, the month reported an overall increase of 1.16%.
|Highest Price||Rs.49,670 per kilogram on 3rd August|
|Lowest Price||Rs.44,805 per kilogram on 29th August|
August '16 – Weeks 1 (1st to 7th)
- Silver traded at Rs.49,430 on 1st August.
- With the dollar losing strength, and global market trends being positive, silver prices surged to Rs.49,670 on 3rd August.
- But soon silver started slipping and traded at Rs.47,255 per kilogram by the end of the week.
- The trend for this week was a significant decline in prices.
August '16 – Week 2 (8th to 14th)
- Silver traded at Rs.47,460 per kilogram on 8th August.
- Rates fluctuated this week owing to trends in the international markets.
- Domestic demand led to a surge in silver prices. On 10th August, silver traded at Rs.48,595 per kilogram.
- Weak trends in the global market resulted in a drop in prices.
- Silver rates dipped to Rs.47,750 per kilogram by 14th August.
August '16 – Week 3 (15th to 21st)
- Silver traded at Rs.47,750 per kilogram on 15th August.
- There was a decline in prices through the week as the U.S. economy gained strength.
- A strong dollar is inversely proportionate to weak silver rates and as the dollar grew stronger, silver prices slipped.
- By the end of the week, silver was trading low at Rs.46,690 per kilogram.
August '16– Week 4 (22nd to 28th)
- On 22nd August, Silver traded at Rs.45,800 per kilogram.
- Prospects of a rate hike by the U.S. Federal Reserve were strengthened by positive economic data.
- Silver prices continued to drop through the week.
- Prices fell to Rs.45,040 per kilogram on 28th August.
August '16 - Week 5 (29th to 31st)
- Silver traded at Rs.44,805 per kilogram on 29th August. This was the lowest price recorded in the month of August.
- Silver climbed slightly on account of domestic demand.
- Overall, global trends were weak and domestic demand was slow.
- The trend for the month of August indicated a decline of 8.03%.
|July 1st Rate||Rs.46,490 per 1 kg|
|July 31st Rate||Rs.48,970 per 1 kg|
|Highest Rate in July||Rs.49,745 per 1 kg on 11th of July|
|Lowest Rate in July||Rs.46,490 per 1 kg on July 1st|
July'16 - Week 1 and 2 (1st to 10th)
- Silver traded at Rs.46,490 per 1 kg on the 1st of July.
- Owing to heavy demand, silver hit the highest for the week at Rs.48,965 per kg on the 4th of July.
- Silver and hit Rs.49,265 per kg on the 7th of July.
- Silver closed the second week at Rs.49,745 per kg on the 10th of July.
July'16 - Week 3 (11th to 17th)
- Silver opened the at Rs.49,745 per kg the 11th of July.
- The price steadily climbed up to Rs.49,235 per kg on the 12th of July.
- Silver hit Rs.48,885 per kg on the 14th of July.
- Silver closed the month at Rs.48.840 per kg on the17th of July.
July '16 - Week 4 (18th to 24th)
- Silver traded at Rs.48,360 per kg on 18th of July.
- Silver hit Rs.48,185 per kg on the 20th of July.
- Prices came down to to Rs.46,665 per kg on the 21st of July.
- Silver price increased to Rs.47,880 per kg on the 22nd of July.
- The precious metal closed the week at 47,420 per kg on the 24th of July.
July‘16 - Week 5 (25th to 31st)
- Silver opened the week at Rs.47,160 per kg on the 25th of July.
- Silver traded at Rs.47,595 per kg on the 26th of July.
- The price of silver dropped down by Rs.220 on the 27th of July at Rs.47,375 per kg.
- Silver hit Rs.48,785 per kg on the 29th of July.
- Silver closed the month at Rs.48,970 per kg on the 31st of July.
|June 1st Rate||Rs. 38,640 per 1 kg|
|June 30th Rate||Rs. 44,635 per 1 kg|
|Highest Rate in June||Rs. 44,635 per 1 kg for 1 kg for 30th June|
|Lowest Rate in June||Rs. 44,635 per 1 kg on June 1st|
Jun'16 - Week 1 (1st to 4th)
- Silver traded at Rs. 38, 640 per 1 kg on the 1st of June.
- Silver price surged by Rs.225 per kg on the 3nd of June at Rs. 38,865 per kg.
- Silver traded at Rs.39,755 per kg on the 4th of June.
Jun'16 - Week 2 (5th to 11th)
- Silver traded at Rs. 39,755 per kg on the 5th of June as there was no change in the price from the previous week.
- The price of silver came down by Rs.65 from Rs. 39,755 per kg to Rs. 39,690 per kg on the 6th of June.
- Silver witnessed a further decline as prices dropped down to Rs. 39,585 per kg on the 8th of June.
- Prices steadily increased over the week and silver traded at Rs.41,510 per kg on the 11th of June.
Jun'16 - Week 3 (12th to 18th)
- Silver remained unchanged and traded at Rs.41,510 per kg on the 12th of June.
- Silver hit Rs.41,935 per kg on the 14th of June.
- Silver traded at Rs.42,958 per kg on the 16th of June.
- The price declined further over the week and silver hit Rs.42,235 on the 18th of June.
Jun'16 - Week 4 (19th to 25th)
- Silver traded at Rs.42,235 per kg on the 19th of June.
- Due to heavy demand in the global market,the price of silver rose to Rs.42,405 per kg on the 21st of June.
- The price of silver relatively increased over the week and hit Rs.43,465 per kg on the 24th of June.
- The price of silver remained unchanged on the 25th of June at Rs.43,465 per kg.
Jun'16 - Week 5 (26th to 30th)
- Silver traded at Rs.43,465 per kg on the 25th and 26th of June.
- The price further increased to Rs.43,980 per kg on the 29th of June.
- Silver closed the month at Rs.44,635 per kg on the 30th of June.
|1st May rate||Rs. 42,590|
|31st May rate||Rs. 39,065|
|Highest rate in May||Rs. 42,675 on 2nd May|
|Lowest rate in May||Rs. 38,795 on 30th May|
May '16 - Weeks 1 and 2 (1st to 8th)
- Silver opened the week at Rs. 42,590 per kg in Kolhapur as demand for the metal continued to be stable from the previous week.
- The price rose on 2nd of May to Rs. 42, 675 per kg before falling by Rs. 650 to Rs. 42,020 per kg on the 3rd of May.
- The price stabilised over the rest of the week but continued to fall, as demand form industrial units started to fall.
- The price of silver was Rs. 41,875 per kg on the 8th of May.
May '16 -Week 3 (9th to 15th)
- Silver prices dropped further as the economy stabilised, leading to reduced demand for silver.
- Silver was priced at Rs. 41,725 per kg on the 9th of May, with the prices dropping marginally as the week progressed.
- Prices rose slightly mid-week, with silver retailing at Rs. 41,420 on the 11th of May but falling again to Rs. 41,175 as demand dipped.
- Silver recovered its price as the week ended, trading at Rs. 41,255 per kg on the 15th of May.
May '16 - Week 4 (16th to 22nd)
- Prices of silver stayed stable for the week, as domestic demand offset major fluctuations in the international market.
- Silver retailed at Rs. 41,255 on the 16th of May, and the price rose by Rs. 290 to Rs. 41,545 on the 17th of May.
- Prices dipped as the Dollar made some gains, trading at Rs. 40,825 per kg on the 19th of May.
- Prices lifted marginally as the week ended, with silver trading at Rs. 40,135 per kg on the 22nd of May.
May '16 - Weeks 5 and 6 (23rd to 31st)
- As market speculation of a rate hike heightened, markets rose and the Dollar registered gains against the basket of global currencies.
- Silver was priced at Rs. 40,060 per kg on the 23rd of May, with prices falling due to lower demand.
- The price fell to Rs. 39,255 per kg on the 26th of May, a fall of Rs. 450 from the start of the week, as markets picked up cues indicating a positive trend from the U.S. job market data.
- The price of silver was Rs. 39,065 per kg on the 31st of May.
|April 1st Rate||Rs.36,780|
|April 30th Rate||Rs.42,590|
|Highest Rate in April||Rs.42,690 on the 29th of April|
|Lowest Rate in April||Rs.36,000 on the 4th of April|
|Overall Performance||Gain / Positive|
Apr'16 - Weeks 1 & 2 (1st to 10th)
- Silver rates declined during the first four days of the month but rose consistently for the next four days before gaining stability for the remainder of the ten-day period.
- Prices were recorded at Rs.36,780 on the first day of the month and Rs.36,620 on the tenth.
- Prices started to rise on the fifth day of trading thanks to firming international and local trends as well as an increase in industrial demand.
Apr ‘16 - Week 3 (11th to 17th)
- Silver rates increased steadily during the third week of the month.
- Prices were recorded at Rs.37,115 on the first day of the week and Rs.39,110 on the last.
- Prices increased by almost Rs.2000 over the week.
Apr ‘16 - Week 4 (18th to 24th)
- Silver rates increased consistently over the course of the week and remained constant for the last two days of trading.
- Prices were recorded at Rs.38,920 on the first day of the week and Rs.41,155 on the last.
- The penultimate week of April recorded the highest gains over seven days as prices jumped by more than Rs.2200 between the 18th and 24th of the month.
Apr ‘16 - Week 5 (25th to 30th)
- Silver prices continued to increase consistently over the last week of April barring marginal losses on the fourth and last day of trading.
- Prices were recorded at Rs.40,810 on the 25th of April and Rs.42,590 on the last day of the month.
|1st March rate||Rs.37,005|
|31st March rate||Rs.36,495|
|Highest rate in March||Rs.38,640 on 18th|
|Lowest rate in March||Rs.36,455 on 29th|
Mar'16 - Week 1 (1st to 6th)
- Silver rate in Kolhapur was down in the first week of trading.
- Prices were Rs.37,005 on 1st and Rs.36,640 on 6th.
- Prices fluctuated in the first three days before stabilizing from the fourth day onwards.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Silver gained marginal value in the second week.
- Rates were Rs.37,695 on 7th and Rs.37,710 on 13th.
- Prices rose to Rs.37,710 on 8th and stayed there for the rest of the week.
Mar'16 - Week 3 (14th to 20th)
- Silver posted more gains in the third week of trading.
- Rates were Rs.37,650 on 14th and Rs.37,865 on 20th.
- Prices stayed in the 37,000s for the most part except on 18th when silver was trading at a peak of Rs.38,640 in the city.
Mar'16 - Week 4 (21st to 27th)
- Silver lost value during this week’s trading.
- Rates were Rs.37,930 on 21st and Rs.36,685 on 27th.
- Prices rose on 22nd after which they started declining for the rest of the week.
Mar'16 - Week 5 (28th to 31st)
- Silver lost another Rs.75 in last week’s trading.
- Prices were Rs.36,570 on 28th and Rs.36,495 on 31st.
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.
Also Check Silver Price in NearBy Cities of Kolhapur
|Silver Rate in Mumbai||Silver Rate in Pune||Silver Rate in Hyderabad|
|Silver Rate in Nagpur||Silver Rate in Mangalore|
|Also Know: Gold Rate in Kolhapur|
Read more on Silver
- About Silver Mining
- Amazing Facts About Silver
- Silver Jewelry
- Why Should You Invest in Silver?
- Are Long Term Silver Investments a Good Idea?