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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 November 2016 (rates per kg)
|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?