Silver Rate in Kolhapur

  • Today's Silver Rate In Kolhapur ( 14 Aug 2020 )

    ₹ 65.01
    Today's Silver Rate per gram

    Compare Silver Rate In Kolhapur (Today & Yesterday)

    Rate Change
    Silver (1 gram) ₹ 65.01 ₹ 72.55 ₹ -7.54 ↓
    Bar Silver (1 Kg) ₹ 65,010 ₹ 72,550 ₹ -7,540 ↓

    Silver Price In Kolhapur For Last 10 Days

    Date Silver (1 gram) Bar Silver (1 Kg)
    13 Aug 2020 ₹ 65.01 ₹ 65,010
    12 Aug 2020 ₹ 72.55 ₹ 72,550
    11 Aug 2020 ₹ 75.16 ₹ 75,160
    10 Aug 2020 ₹ 74.22 ₹ 74,220
    09 Aug 2020 ₹ 74.21 ₹ 74,210
    08 Aug 2020 ₹ 76.52 ₹ 76,520
    07 Aug 2020 ₹ 73.51 ₹ 73,510
    06 Aug 2020 ₹ 71.51 ₹ 71,510
    05 Aug 2020 ₹ 65.06 ₹ 65,060
    04 Aug 2020 ₹ 65.41 ₹ 65,410

    Weekly & Monthly Graph of Silver Rate in Kolhapur

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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 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 2020 (rates per kg)

    Parameters Silver Price (per kg)
    July 1 Rate Rs.48,560 per kg
    July 31 Rate Rs.63,010 per kg
    Highest Rate in July Rs.66,060 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 Kolhapur 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 Kolhapur 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%
    • The price of silver opened in the month of May in Kolhapur at Rs.42,530 per kg. Although there was a fall in prices the very next day which also recorded the lowest numbers for silver for the month at Rs.41,010 per kg, silver was still on track for an upward tick as various Governments all over the world released various stimulus packages to boost their economy in response to the coronavirus pandemic. However, prices soon fell before the end of the first week as optimism about the lockdowns being eased rose, as investors looked to invest in riskier assets. This prompted investors to book profits. However, prices remained steady overall as the dollar continued to remain unchanged. The rising tensions between US and China also played a role in the weakening of the risk sentiments among investors in the stock market, which worked in favor of silver ultimately.
    • In the second week of May, the price of silver opened at Rs.42,060 and ended the week at Rs.42,960 per kg. The gradual increase in prices was due to the increased anticipation of the release of the US nonfarm payrolls data which would reveal the true picture of the economic conditions. However, a new wave of coronavirus infections kept investors from investing in riskier assets, making them invest in precious metals. However, the prices remained steady due to a strong US dollar. The appetite for risk fell considerably as reports of coronavirus’ resurgence in several countries emerged forcing the investors to stay away from riskier assets which lead to prices of white metal holding steady through the second week also.
    • In the third week of May, the prices of silver started at Rs.43,160 per kg and ended at Rs.48,200 per kg. This was in response to the US Federal Reserve not announcing sub-zero interest rates as was widely anticipated, the increasing US-China tensions, and a continuing weakening of the economy worldwide with the coronavirus continuing to affect the global economy. There were concerns over the reemergence of global economic recession which resulted in increased appeal for safe-haven investments. However, the prices were capped from rising too high due to reports about a possible success in early-stage trials for a coronavirus vaccine, which led to interest again in equities.
    • In the last week of May, silver prices in Kolhapur started at Rs.48,250 per kg and ended the month at Rs.50,100 per kg, with the month’s highest price falling on 25 May at Rs.51,400. Tensions related to protests in Hong Kong resulted in the US-China trade relations being strained even more. Increased economic stimulus packages also played a role in boosting the price of white metal as investors lowered their risk appetite in such a volatile global economic scenario. There was a further rise in silver prices as the US dollar weakened as US Government remained mum regarding their response to China’s management of the Hong Kong protests. Overall, the trend for silver in the month of May in Kolhapur was an incline of 17.79% which was in keeping with the overall global trends that were playing out politically and in the stock markets.

    Trend of Silver Rate in Kolhapur 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%
    • The month of April witnessed a 2.51% increase in the price of silver. On 1 April, the white metal had been standing at Rs.40,500 per kg. In Kolhapur, for the next five days (1 April to 5 April) the rates of the metal had remained the same. Then, on 6 April, silver prices had decreased by Rs.140 and were priced at Rs.40,360 per kg. This drop in price can be associated with the U.S. dollar and global equities being strengthened. This strengthening was due to a drop in the number of coronavirus cases across the world. On 9 April, a lot of investors had begun to hedge their risks right before a long weekend. There had been a meeting of the top oil producers and they planned on stemming the market slump and wanted to improve risk sentiment. They had also hoped that the coronavirus would soon be contained. This had then driven the rates of silver to jump up by Rs.930 to Rs.41,290 per kg.
    • When the third week of the month had opened, silver had stood at Rs.41,100 per kg on 12 April. By 14 April, Kolhapur witnessed the growth in fears of an economic fallout on a global scale, and this was led by the coronavirus that was fast growing. This had then boosted the bullion's status as a safe-haven. Two days later, on 16 April, the prices of the metal had skyrocketed by Rs.520 to Rs.41,920 per kg. This was due to the weak manufacturing data released by the U.S. and low retail sales. These two factors had then boosted the fears of an economic recession. By 17 April, the prices of silver had fallen by Rs.60 to Rs.41,860 per kg. On 19 April, the rates had fallen to Rs.41,210 per kg by Rs.650.
    • 20 April had seen the silver prices fall. This dip had been driven by a strong U.S. dollar and many growing doubts as the U.S. had plans to ease their restrictions and reopen the economy. By 22 April, the prices of the metal had dropped to Rs.41,660 per kg. This fall can be associated with the sudden appetite of investors for safe havens. The central banks had also rolled out a few stimulus measures. All throughout this week, the white metal prices went through a lot of fluctuations and on 26 April, silver cost Rs.42,540 per kg.
    • By 29 April, the rates of the silver had fallen by Rs.330 to Rs.42,210 per kg. This fall in price was led by an increase in risk appetite as many countries wanted to ease curbs and open up their economies. April closed with silver standing at Rs.41,520 per kg.

    Trend of Silver Rate in Kolhapur 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%
    • In March the price trend of silver showed a decline of 14.5%. The month opened with silver being priced at Rs.47,400 per kg. On 2 March, the rate of this precious metal had skyrocketed to Rs.48,500 per kg. The sudden hike in the price of silver took place as a rebound from a dip amid traders hoping that the U.S. Federal Reserve would cut the interest rates in an attempt to cushion the major impacts that the coronavirus was having on the economy. By 6 March, the silver prices had increased to Rs.50,700 per kg. This rise in price was driven by the U.S. Federal Reserve cutting the interest rates.
    • The second week opened with the metal being priced at Rs.50,500. During the week, silver witnessed a few marginal changes in its price before it reached Rs.50,000 per kg. This was the price of the metal on 10 March. The rise in price of this metal can be associated with tensions in international equities as the economy witnessed a fallout which was driven by the coronavirus. This had in turn shot up the demands for all safe-haven assets. On the last day of this week, 12 March, silver stood at Rs.48,600 per kg. This dip in silver prices was due to traders having sold the white metal in order to cover their margins for stock markets that had been suffering because of the pandemic.
    • Once again, the third week of March saw the coronavirus affect the price of the white metal. Silver stood at Rs.45,900 per kg on 13 March. Investors grabbed opportunities to sell the metal to hoard cash. This was a move made for meeting margin calls across the global markets that were being battered by the spreading coronavirus. The rate of silver had then witnessed a drop for many days until it hit the lowest figure for March. On 19 March, the price of silver had been Rs.37,800 per kg. The rise in the value of the U.S. dollar and the pandemic haunting the international markets drove traders to sell their assets and hoard cash.
    • The last week of March witnessed two days on which the price of the metal remained stagnant- 21 March and 22 March. On these days, the metal was priced at Rs.40,100 per kg. Then, on 23 March, the prices had risen to Rs.40,700 per kg (by Rs.600). The previous trading session saw the price of the metal rise post the announcement by the U.S. Federal Reserve about unprecedented measures to be taken to reduce the impact that the coronavirus was having on the economy. For 8 days towards the end of the month, the price of the metal remained the same. From 24 March to 31 March, the price of silver had been Rs.40,500 per kg.

    Trend of Silver Rate in Kolhapur 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%
    • In Kolhapur, silver started the month of February at Rs.50,300 per kg. The rates witnessed an increase of Rs.100 for every kilogram when compared to the previous week’s closing price. Over the month, the rates of the white metal saw a lot of fluctuations due to various global factors.
    • The rates saw minor fluctuations in the prices over the first two weeks. However, given the rise in the number of new coronavirus cases and deaths due to it, the demand of silver increased among the investors as the risk appetite decreased. This meant that the prices recorded a hike of Rs.400 on 15 February and every kilogram was retailed for Rs.50,000 in the city.
    • Silver prices were on the rise for the next few days as South Korea witnessed a rise in the number of new coronavirus cases. It had a negative effect on the global economy. Silver hit the highest price for the month on 24 February with every kilogram costing Rs.52,900.
    • With investors booking profits after the continuous fluctuations of prices in the market, the rates of the white metal slipped following 24 February. Silver closed the month at Rs.47,400 per kg with the overall performance showing a decline of 5.76% in the prices at Kolhapur.

    Trend of Silver Rate in Kolhapur 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%
    • The prices of silver in Kolhapur fluctuated throughout the month of January due to various factors such as the signing of the trade deal between the US and China, the demand for riskier assets, concerns over the coronavirus, and the tensions between the US and Iran.
    • The prices of the white metal opened and closed at Rs.50,300 per kg and Rs.50,200 per kg in January. Therefore, silver prices saw a decline of 0.19% over the course of the month.
    • When compared to the last day of December, the prices of silver decreased by Rs.600 on 1 January 2020. However, silver prices gradually increased over the initial days of the month because of the tensions between Iran and the US.
    • The lowest and highest prices of silver in Kolhapur for the month of January were Rs.49,200 per kg and Rs.52,600 per kg, respectively.

    Also Check Silver Price in NearBy Cities of Kolhapur

    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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