Silver Rate in Kolkata

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Silver Price in Kolkata

Kolkata is the third largest metropolitan city in India and over 14 million people call it home. The erstwhile British capital of India is a hub of marketing and industries, accounting for a major chunk of investments made in the country. The city is deeply rooted in tradition and has a glorious, unparalleled history. Silver has held high value among Indians and has found multiple uses, making it one of the most versatile precious metals. Silver has been used since the early ages as a tool for payment, enhancing trade between India and the rest of the world and Kolkata was right at the center of this trade.

Current silver rates depend on market conditions and vary according to demand and supply. Residents of Kolkata are one of the largest consumers of silver and fluctuating rates have not deterred them from purchasing this precious metal.

Trend of Silver Rate in Kolkata 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 Kolkata 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)

• The start of the month saw silver prices fluctuate on unfavourable market cues and the falling rupee.
• Silver was priced at Rs.41,400 per kg when trading opened, as the dollar continued to climb on positive U.S. economic data.
• Prices fell to Rs.41,000 per kg on 3 August as local industrial demand fell due to rising costs associated with the falling rupee.
• The fluctuating dollar resulted in silver prices in Kolkata rising to Rs.41,300 per gram on 5 August as investors increased orders.

August 2018- Week 2 (6-12)

• Prices continued to fluctuate as the rupee dropped further against the rising dollar, reducing local demand for silver.
• The metal opened the week at Rs.41,300 per kg on the back of poor domestic demand, though international orders rose.
• An unstable euro and declining overseas demand saw the industrial metal fall to Rs.41,100 per kg on 10 August.
• As the rupee made some gains towards the end of the week, silver prices rose to Rs.41,200 per kg on 12 August.

August 2018- Week 3 (13-19)

• Silver was pressured in the third week of August as the dollar recovered from last week’s losses on positive market trends.
• The industrial metal traded at Rs.41,200 per kg on 13 August but falling local demand resulted in prices sliding downwards.
• Retail demand was on the decline in spite of the festive season as the falling rupee made buying silver more expensive, as the metal plunged to Rs.39,900 per kg on 16 August.
• Prices fluctuated for the next few days before settling at Rs.40,000 per kg on 19 August to record a sharp drop in price during the week.

August 2018- Week 4 (20-26)

• There was no change in silver prices in Kolkata when trading opened on 20 August, as sluggish demand and a rising dollar put off local demand.
• Silver traded at Rs.40,100 per kg on 22 August on a spurt in Asian demand, but fears over China’s economic growth slowing affected bullion sales.
• Prices stayed more or less constant for the rest of the week before closing at Rs.40,200 per kg on 26 August as fluctuations in demand prompted greater demand for safe-haven assets like bullion.

August 2018- Week 5 (27-31)

• The last week saw sluggish demand from local industrial units and coin makers, as the rupee fell sharply.
• Silver opened the week at Rs.40,200 per kg on 27 August, remaining unchanged from the previous week due to static demand.
• Prices were boosted by a drop in the dollar and rose to Rs.40,400 per kg on 28 August but the metal’s fortunes changed the next day as it fell to Rs.40,300 per kg on 29 August.
• Fears of another interest rate hike resulted in investors staying away from silver purchases but a rise in Asian demand kept prices stable.
• As the month ended, silver rates in Kolkata maintained stability to close at Rs.40,300 per kg, though the metal lost 2.65% of its value during the month.

Trend of Silver Rate in Kolkata 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)

• Silver rates in Kolkata for the month of July commenced at Rs.42,800 per kg.
• On 3 July, the city experienced a dip in silver rates that can be associated to the drop in industrial demand. The price in the city declined to Rs.42,400 per kg.
• The price of the metal then rose marginally in Kolkata to Rs.42,800 and remained the same for the following few days. The local industrial offtake had been fluctuating during this time as well.
• At the end of the first week of July, the silver rate rose to Rs.42,900 per kg. This rate was recorded on the 9 - 10 July. This increment can be linked to the positive market trends, and the declining dollar value with relation to other currencies.

July 2018- Week 2 (11-17)

• The second week of July began with the silver price dropping to Rs.42,600. The drop in the silver rate was caused due to the weak demand for the metal.
• The industrial demand for silver in Kolkata reduced further during the second week as the price of the metal from 12 - 14 July stood at roughly Rs.42,200 per kg.
• Industrial demand for the metal then stabilised while the and silver price in Kolkata stabilised as well. The price of the metal as on 16 July stood at Rs.42,300 per kg.
• On 17 July, the end of Week 2, the price of silver in Banglore was recorded at Rs.42,100 per kg.

July 2018- Week 3 (18 - 24)

• The start of Week 3 in July saw a decline in silver prices in Kolkata as it dropped to Rs.41,700 per kg. This was the price as recorded on 18 July. The drop in silver rates may be caused due to the dro in industrial demand for the metal.
• On on 20 July the dollar value in comparison with other currencies rose which caused silver prices to drop to Rs.41,300 per kg.
• Demand for the metal increased in the following few days which led to the increment in the silver rate. The price of silver in Kolkata on 21 - 22 July stood at Rs.41,700 per kg.

• The price of the metal the declined towards the end of the week in Kolkata as it stood at Rs.41,400 per kg on 24 July.

July 2018- Week 4 (25 - 31)

• Steady industrial demand for the metal caused the price of silver to drop to Rs.41,500 per kg on 25 July.
• Due to the decline of dollar value, silver prices spiked on 26 July to Rs.41,800 per kg. However, demand for the metal dropped which naturally caused the decline in silver prices over the next few days.
• As on 28 - 29 July, the price of silver stood at Rs.41,200 per kg.
• 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.

Trend of Silver Rate in Kolkata 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 to 5 June
Overall Monthly Performance	Steady
Percentage Change	0.00%

June 2018 - Week 1 (1 - 10):

• Trading commenced for the month with silver rates holding at Rs.42,800 per kg on the 1st with global demand pressured by the rising dollar and equities.
• The 2nd saw prices plummeting to their lowest monthly figure of Rs.42,600 per kg as the dollar dominated against a basket of other major currencies after the release of the positive US jobs and payrolls’ reports.
• Poor industrial demand coupled with weak global cues led to silver being priced at Rs.42,600 per kg until the 5th.
• The 6th, however, saw rates surging to Rs.43,900 per kg with market participants concerned over the G7 summit to be held during the week.
• On the 7th, the white metal was recorded trading at Rs.43,800 per kg as the dollar value rose slightly amid the well-performing equities.
• However, the G7 summit went through as expected with US President targeting other heads of the participating nations over inappropriate trade practices. This led to the US dollar index dropping significantly against other apex currencies.
• Silver was recorded trading at Rs.43,600 per kg on the 8th, which rose further to Rs.43,700 per kg on the 9th amid strong market trend overseas,
• Trading concluded for the week with silver priced at Rs.43,700 per kg on the 10th with strong and steady industrial demand for the metal.

June 2018 - Week 2 (11 - 17):

• Silver prices in Kolkata were greatly influenced by the political summits and the US central bank meeting held during the course of the week.
• Silver was recorded trading at Rs.43,900 per kg on the 11th when the week began with domestic markets capitalising on the previous week’s gains.
• Prices rose to Rs.44,000 per kg on the 12th before dropping to Rs.43,900 per kg on the 13th after the US-North Korean summit turned out to be a successful event.
• However, the US dollar index dropped soon after the US Federal Reserve decided to leave its benchmark interest rates untouched at the monetary policy meeting. This led to global market participants banking on the commodity markets. Silver was priced at Rs.44,300 per kg on the 14th.
• Silver prices were recorded holding at Rs.45,000 per kg - the highest recorded monthly figure - on the 15th amid the strong overseas market trends.
• As the week came to an end, global demand stabilised amid the recovering dollar and the industrial metal was priced at Rs.44,300 per kg on the 17th.

June 2018 - Week 3 (18 - 24):

• The third week began with silver rates dropping by Rs.900 to Rs.43,400 per kg on the 18th on account of the strong dollar performance that capped demand globally.
• Prices recovered to Rs.43,500 per kg the next day before plunging to Rs.43,100 per kg on the 20th with industrial demand suppressed by the well-performing equities and the rising US dollar index.
• The 21st saw rates dropping further to Rs.42,900 per kg with poor investor demand amid the weak trend overseas.
• The rest of the week saw silver prices remaining untouched at Rs.42,900 per kg with subdued but steady demand from local industrial units and coin makers.

June 2018 - Week 4 (25 - 30):

• The last week began with silver rates opening at Rs.43,200 per kg - an incline of Rs.300 - on the 25th, thanks to an increased retail demand at the domestic level.
• However, a decline in industrial offtake over the next few days led to silver prices plunging to Rs.43,000 per kg on the 28th.
• The 29th saw rates dropping further to Rs.42,800 per kg with global demand held in check by the strengthening US dollar and well-performing stock markets.
• Trading concluded for the month with silver priced at Rs.42,800 per kg on the 30th, recording a steady overall performance during the course of the month.

Trend of Silver Rate in Kolkata 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):

• Trading commenced for the month with the white metal priced at Rs.42,000 per kg on the 1st amid firm overseas market trends.
• Strong local demand from industries, jewellers and retailers brought about by the weakened US dollar resulted in prices rising to Rs.42,600 per kg on the 3rd.
• Silver rates remained steady for much of week with the US-Sino trade war fears pushing demand higher for safe-haven assets such as the bullion.
• The week came to an end with silver prices holding firm at Rs.42,600 per kg on the 6th amid the rising US-North Korean geopolitical tensions.

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

• The week began with silver trading at Rs.43,200 per kg on the 7th following an increase in industrial offtake for the metal.
• An incline in the dollar value compared to other apex currencies led to silver rates dropping to Rs.43,000 per kg on the 8th.
• With the US-North Korean diplomatic relations intensifying, demand for precious metals such as gold and silver surged during the week.
• Silver was recorded trading at Rs.43,100 per kg on the 9th before surging further to Rs.43,300 per kg on the strong investor demand amid positive market cues.
• The 11th saw silver prices in Kolkata surging to Rs.43,500 per kg as demand from retailers, jewellers and industrial units rose at the domestic level.
• Thanks to steady global as well as domestic demand amid the firm global cues, the rest of the week saw rates remaining untouched at Rs.43,500 per kg.

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

• Trading opened for the week with silver rates holding at Rs.43,600 per kg on the 14th with market participants speculating over the possible US-North Korean summit.
• However, with the greenback rising against a basket of other emerging currencies, demand for the metal plummeted over the next couple of days.
• Rates dropped to Rs.43,300 per kg on the 15th before plunging to Rs.43,000 per kg on the 16th amid the poor trend overseas.
• Silver prices recovered to Rs.43,200 per kg for a brief period on the 17th before dropping again to Rs.43,000 per kg on the 18th with local demand suppressed by the strong US dollar index.
• The week came to an end with the industrial metal closing slightly higher at Rs.43,100 per kg on the 20th.

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

• The fourth week began with silver rates holding at Rs.43,100 per kg on the 21st with domestic bullion markets tracking a firm trend overseas.
• Safe-haven demand for the metal surged with investors gravitating towards assets such as the bullion to hedge against rising geopolitical concerns in the Middle East and Europe.
• Strong global cues coupled with an increased domestic demand led to silver rates rising to Rs.43,500 per kg on the 23rd.
• However, with the US dollar index regaining lost ground from its previous rally of losses, demand for the metal dropped. This led to prices dropping to Rs.43,300 per kg on the 24th.
• Strong domestic demand from industrial units, jewellers, and retailers despite the poor overseas trends led to silver rates remaining untouched at Rs.43,600 per kg for the remainder of the week.

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

• The last week commenced in Kolkata with silver trading at Rs.43,000 per kg - a decline of Rs.600 - on the 28th with domestic markets failing to capitalise on its previous session’s gains.
• Thanks to an increase in local buying, prices rose marginally to Rs.43,100 per kg on the 29th.
• However, with the US dollar gaining on positive market sentiments after the US President confirmed the previously cancelled US-North Korea to go ahead as planned, prices dropped to Rs.42,900 per kg on the 30th.
• The month came to an end with silver rates in Kolkata closing at Rs.43,100 per kg on the 31st, recording an increase of 2.31% in silver trade during the month.

Trend of Silver Rate in Kolkata 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 was on the increase as the week began but fell marginally towards the end of the week 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 brought about by a weakening of the U.S. Dollar led to a rise in demand from Asian industry which kept prices stable.
• A rally by equity markets and a steady increase in the dollar rate led to a drop in demand for the industrial metal, which fell to Rs.41,000 per kg on 5 April.
• A slight rise 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)

• Turbulent equity markets and a fluctuating dollar rate led to stable demand for the industrial metal.
• The week began with silver priced at Rs.41,200 per kg on 8 April in Kolkata 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 prices rose 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 on the rise and was reflected in the price which rose to Rs.42,000 per kg on 12 April.
• Slight fluctuations in overseas demand led to silver prices 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 prices rose to 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.
• Prices 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 prices fell throughout the week to end the month at Rs.42,300 per kg on 30 April.

Trend of Silver Rate in Kolkata 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 (1 – 4):

• The week began in Kolkata with silver trading at Rs.41,100 per kg on the 1st with steady industrial offtake in the domestic level.
• Poor dollar performances compounded by the unevenly performing equity markets led to silver rates rising significantly during the week.
• Prices rose to Rs.41,400 per kg the next day after the bullion market capitalised on the weakened greenback and stock markets.
• An incline in demand local industrial units and coin makers amid the strong global cues led to silver rates surging further to Rs.41,600 per kg on the 3rd.
• The week came to an end with the industrial metal prices holding firm at Rs.41,600 per kg on the 4th with domestic markets tracking a firm trend overseas.

March 2018 – Week 2 (5 – 11):

• Trading commenced for the second week silver priced at Rs.41,700 per kg on the 5th amid firm trends from the previous week.
• Strong market uncertainties coupled with varying demand led to silver prices fluctuating throughout the week.
• Silver price in Kolkata plunged to Rs.41,400 per kg on the 6th as the US dollar index gained against a basket of other major emerging currencies in the world market.
• However, an increase in industrial offtake for the metal despite the poor trend overseas led to silver rates rebounding to Rs.41,900 per kg on the 7th. This was also the highest recorded monthly figure in Kolkata.
• With the US dollar regaining lost ground against other apex currencies, silver rates in Kolkata plunged to Rs.41,500 per kg on the 8th.
• Prices dropped further to Rs.41,300 per kg the next day before silver rate in Kolkata stabilised at Rs.41,600 per kg on the 10th following an increase in purchases made by industries and coin makers.
• The week came to an end with the white metal prices holding at Rs.41,600 per kg on the 11th with steady demand amid positive market trends.

March 2018 – Week 3 (12 – 18):

• The third week opened with silver priced at Rs.41,600 per kg on the 12th with domestic markets tracking steady trends from the previous week.
• However, with the US employment data indicating a positive result on the US economic growth, the dollar index rose against a basket of other currencies. This led to silver rate in Kolkata dropping to Rs.41,400 per kg on the 13th.
• Safe-haven demand for the metal spiked after the US Secretary of State Rex Tillerson was fired abruptly by the US President. With people doubting Trump’s presidency, the US dollar plummeted. This led to silver prices surging to Rs.41,700 per kg on the 14th.
• But with investors and traders refraining from making purchases ahead of a possible Fed rate hike, silver rates dropped to Rs.41,500 per kg on the 15th.
• Poor trends overseas coupled with reduced domestic demand led to silver being priced at Rs.41,300 per kg and Rs.41,100 per kg on the 16th and the 17th respectively.
• The week ended with the industrial metal trading at Rs.41,100 per kg on the 18th with subdued but steady demand from industries and coin makers amid weak global cues.

March 2018 – Week 4 (19 – 25):

• The week began with silver trading at its lowest recorded monthly figure of Rs.41,000 per kg on the 19th after the strengthened US dollar led to a decline in domestic demand for the metal.
• Though prices rose to Rs.41,200 per kg on the 20th, silver rate in Kolkata plunged again to Rs.41,000 per kg on the 21st following a surge in the US dollar value.
• However, an incline in safe haven demand for the metal brought about by the weakened US dollar amid market uncertainties led to silver price in Kolkata rising over the next couple of days.
• Silver was recorded trading at Rs.41,500 per kg on the 22nd before surging further to Rs.41,600 per kg on the 23rd amid firm trends overseas.
• Thanks to steady global demand from industries and coin makers amid the positive global cues, prices remained untouched at Rs.41,600 per kg until the end of the week.

March 2018 – Week 5 (26 – 31):

• The last week saw silver rate in Kolkata rising initially before declining amid the strengthening US dollar and recovering equities.
• Silver was priced at Rs.41,600 per kg on the 26th when the week opened.
• Rates rose to Rs.41,800 per kg the next day after safe-haven investments surged following the ongoing US- Russian political spat overseas.
• The dollar, however, regained ground the next day with the greenback gaining against a basket of other emerging currencies in the international market. This led to silver being priced at Rs.41,500 per kg on the 28th.
• The strengthening US dollar coupled with firmer equity markets led to silver price in Kolkata dropping to Rs.41,400 per kg on the 29th.
• The rest of the month saw the white metal prices holding steady at Rs.41,400 per kg with subdued but steady demand from industrial units and coin makers.
• Kolkata registered an incline of 0.72% in silver rates during the course of the month.

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

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

• Silver traded at Rs.42,600 per kg in Kolkata when the first week of February began.
• Silver rate in Kolkata continued to trade at Rs.42,600 per kg before falling to Rs.41,700 per kg on the 3rd, due to weak trading cues. Rates seen on the 1st and te 2nd were the highest silver rates for this month.
• It was made possible by a poor US dollar which seemed to drop ahead of poor jobs data.
• The month came to an end with the metal trading at Rs.41,700 per kg.

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

• The second week started with silver trading at a slightly lower rate of Rs.41,500 per kg.
• The next day, i.e., the 6th saw silver prices in Kolkata rise to Rs.41,900 per kg but dropped to Rs.41,400 per kg on the 7th owing to poor global cues.
• Silver prices dropped to Rs.40,800 per kg on the 8th as weak global cues combined with a poor local demand proved to be poor for the metal.
• On the 9th, rates rose to Rs.41,000 per kg, thanks to an unexpected rise in local demand in spite of poor cues overseas.
• The 10th and the 11th saw silver trade at Rs.40,600 per kg as the equities market performed well and so did the US dollar.

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

• When trading opened for the 12th, silver prices had risen to Rs.40,800 per kg as the US dollar weakened as inflation data was expected to be released.
• Over the next few days, silver prices inclined gradually as the inflation data halted the dollar’s growth and safe haven demand kicked in.
• On the 13th, silver traded at Rs.41,300 per kg which then rose to Rs.41,400 per kg the next day as global cues remained positive.
• During the 15th, silver prices went up to Rs.41,800 per kg before dropping to Rs.41,700 per kg on the 16th.
• Silver traded at Rs.41,700 per kg for most of 17th and 18th as investors purchased the white metal to hedge against inflation.

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

• Demand for the metal was uneven over the course of this week. On the 19th, the white metal was priced at Rs.41,600 per kg.
• This fell to Rs.41,200 per kg on the 20th as the US dollar bounced back after a slow week, owing to weak inflation data.
• On the 21st, silver prices remained unchanged but went up to Rs.41,400 per kg the next day due to a surge in demand from coin makers and industrial units.
• The 22nd saw the white metal’s rates surged to Rs.41,600 per kg before falling by Rs.100 to Rs.41,500 per kg.
• For the remaining days of the week, silver traded at Rs.41,500 per kg.

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

• Silver prices were recorded at Rs.41,600 per kg on the 26th of February, which surged to Rs.41,700 per kg on the 27th as markets were volatile.
• When the month came to an end, silver was seen trading at Rs.41,200 per kg.
• A poor local demand was a catalyst behind silver prices falling by 3.28% this February.

Trend of Silver Rate in Kolkata for January 2018 (rates per kg)

Parameters	Silver price (per kg)
Silver rate on 1st January 2018	Rs.38,925 per kg
Silver rate on 31st January 2018	Rs.42,200 per kg
Highest Rate in January	Rs.42,700 per kg on 29 January
Lowest Rate in January	Rs.38,925 per kg on 1, 2 and 10 January
Overall Monthly Performance	Incline
Percentage Change	8.41%

January 2018 - Week 1 (1 - 7):

• Silver trade in Kolkata witnessed prices increasing significantly following an incline in demand from industrial units and coin manufacturers amid steady global cues.
• Trading commenced with the white metal priced at Rs.38,925 per kg on the 1st. This was also the lowest recorded monthly figure in Kolkata.
• Steady local demand coupled with firm trends resulted in prices remaining untouched at Rs.38,925 per kg on the 2nd.
• The 3rd saw silver rate in Kolkata rising to Rs.39,110 per kg before dropping to Rs.38,995 per kg on the 4th with a slight decline in industrial demand amid the strengthened US dollar index.
• However, with the US greenback losing ground against other apex currencies, prices surged to Rs.39,265 per kg on the 5th.
• An increase in demand compared to below par performance in the previous days resulted in silver rates holding steady at Rs.39,355 per kg on the 6th and the 7th.

January 2018 - Week 2 (8 - 14):

• The week began with the industrial metal trading steady at Rs.39,355 per kg on the 8th amid firm trends overseas.
• Silver price in Kolkata plunged to Rs.39,115 per kg on the 9th which dropped further to Rs.38,925 per kg the following day with the US dollar strengthening amid firm equities markets which pushed demand lower for the metal.
• The 11th, however, saw silver rates climbing up to Rs.39,110 per kg following an increase in demand from local coin makers and industrial units.
• Steady demand coupled with positive trends overseas resulted in silver prices remaining untouched at Rs.39,110 per kg on the 12th.
• With the US dollar losing against a basket of other emerging currencies in the international markets, demand for the metal surged.
• Silver was recorded trading at Rs.39,265 per kg on the 13th before rising to Rs.39,355 per kg on the 14th amid strong global cues.

January 2018 - Week 3 (15 - 21):

• The week saw silver rates climbing initially before plunging amid poor trends overseas as the week progressed.
• The white metal prices were recorded holding at Rs.39,670 per kg on the 15th with a sudden incline in demand after speculators ramped up their purchases amid the weakened US dollar.
• Silver rates remained unaltered at Rs.39,680 per kg over the next couple of days with steady demand for the metal by investors and traders.
• The 18th, however, saw silver prices plunging to Rs.39,265 per kg with a decline in silver sales amid the recovering greenback and equities market.
• Silver price in Kolkata dropped further to Rs.39,115 per kg on the 19th before slightly rising to Rs.39,265 per kg on the 20th after a firm trend overseas led to an incline in industrial demand for the metal.
• With the US dollar attempting to make a comeback from its previous rally of losses, silver rates remained untouched at Rs.39,265 per kg for the remainder of the week.

January 2018 - Week 4 (22 - 28):

• The fourth week witnessed silver prices holding steady during the initial days before surging high halfway into the week with strong safe-haven demand for the metal.
• Trading commenced for the week with the white metal priced at Rs.39,265 per kg on the 22nd amid steady trends overseas.
• Strong global cues coupled with steady demand from local coin makers and industrial units resulted in silver rates holding steady at Rs.39,265 per kg until the 24th.
• However, with the US dollar and equity markets losing considerable ground in the global markets, demand for the safe-haven metal spiked. This led to silver being priced as high as Rs.40,285 per kg on the 25th.
• The rest of the week saw silver rate in in Kolkata holding firm at Rs.40,285 per kg owing to steady domestic and global demand amid the poorly performing US dollar and equities.

January 2018 - Week 5 (29 - 31):

• The final week began with the industrial metal trading at Rs.42,700 per kg - the highest recorded monthly figure - on the 29th. The rise in prices was greatly due to the sudden incline in safe-haven demand amid concerns over a possible economic crisis in the US.
• However, with the US dollar and equity markets regaining lost ground from the previous losses, silver rates plunged to Rs.42,200 per kg on the 30th.
• Trading concluded for the month with silver continuing to trade at Rs.42,200 per kg on the 31st after demand remained flat ahead of the two-day monetary policy meeting in the Federal Reserve.
• Strong global, as well as domestic demand brought about by the positive trends overseas, heralded record-breaking changes in silver rates during the month.
• Silver rates in Kolkata rose by a whopping 8.41% owing to strong global cues during the course of the month.

Trend of Silver Rate in Kolkata for December 2017 (rates per kg)

Parameters	Silver price (per kg)
Silver Rate on 1st December 2017	Rs.41,800 per kg
Silver Rate on 31st December 2017	Rs.43,000 per kg
Highest Rate in December	Rs.43,000 per kg on 30 December
Lowest Rate in December	Rs.40,200 per kg on 06 December
Overall Monthly Performance	Increasing
Percentage Change	2.87%

December 2017 - Week 1 (1st to 10th)

• When the month began, the industrial metal was recorded trading at Rs.38,230 per kg on the 1st amid the strengthening US dollar.
• The 2nd saw silver price in Kolkata declining to Rs.38,120 per kg with a decline in domestic demand brought about by the strong US dollar index.
• Though prices remained unchanged at Rs.38,120 per kg the next day, silver rate in Kolkata plummeted to Rs.37,965 per kg on the 4th after demand from industries and coin manufacturers declined amid the poor global trends.
• A decrease in demand brought about by the strong US dollar and firmer equities led to silver prices dropping to Rs.37,600 per kg and Rs.37,180 per kg on the 6th and the 7th respectively.
• Silver rates dropped further to Rs.36,715 per kg on the 8th with the US dollar rising against other apex currencies following the approval of the Republican tax reform plan by the US Senate.
• With investors and traders cautious ahead of the US Federal Reserve meeting during the next week, prices remained untouched at Rs.36,715 per gram for the rest of the week.

December 2017 - Week 2 (11th to 17th)

• The week began with the white metal prices holding at Rs.36,920 per gram on the 11th with steady demand for the metal.
• Silver continued trading at Rs.36,920 per kg on the 12th but the strengthening US dollar and well-performing equities resulted in prices plummeting to Rs.36,545 per kg - the lowest recorded monthly figure - on the 13th.
• The Fed rate hike resulted in the dollar losing significant ground against other apex currencies. This led to silver rate in Kolkata rebounding to Rs.37,295 per kg on the 14th.
• The 15th, however, witnessed prices dropping slightly to Rs.37,235 per kg which plunged further to Rs.36,920 per kg the next day with the US dollar rising amid the stabilising markets.
• The week concluded with silver priced relatively higher at Rs.37,180 per kg on the 17th with an increased offtake by industrial units and coin manufacturers.

December 2017 - Week 3 (18th to 24th)

• When trading opened for the week, silver was priced at Rs.38,395 per kg on the 18th with an increase in industrial demand in the domestic market.
• Silver price in Kolkata plunged to Rs.37,600 per kg the next day before an incline in domestic demand led to silver rates rebounding to Rs.38,395 per kg on the 20th.
• The uneven global cues coupled with the fluctuating industrial demand led to silver being priced at Rs.37,600 per kg on the 21st before rising to Rs.37,865 per gram on the 23rd.
• Steady demand amid the positive trends overseas led to silver rates holding firm at Rs.37,865 per gram for the rest of the week.

December 2017 - Week 4 (25th to 31st)

• The last week of 2017 commenced with silver recorded trading at Rs.38.395 per gram on the 25th amid the firm trend overseas.
• The next day, however, witnessed rates plunging to Rs.38,005 per gram with the US dollar regaining lost ground and the well-performing equities market.
• But with Asian stock markets failing against the new US tax cuts, prices rebounded to Rs.38,815 per kg on the 27th.
• Silver price in Kolkata rose slightly to Rs.38,825 per kg on the 28th with the US dollar losing against a basket of other emerging currencies.
• Strong investor sentiments coupled with an improved demand amid the positive trends overseas led to silver prices surging to Rs.39,265 per kg on the 30th.
• Trading concluded for the month with the white metal priced at Rs.39.265 per kg on the 31st.
• Kolkata registered an incline of 2.70% in silver prices during the course of the month.

Trend of Silver Rate in Kolkata for November 2017 (rates per kg)

Parameters	Silver price (per kg)
Silver rate on 1st November 2017	Rs.38,995 per kg
Silver rate on 30th November 2017	Rs.38,640 per kg
Highest Rate in November	Rs.40,520 per kg on 18 and 19 November
Lowest Rate in November	Rs.38,640 per kg on 30 November
Overall Monthly Performance	Decline
Percentage Change	0.91%

November 2017- Week 1 (1st to 5th)

• SIlver prices were quite unstable in the first week of November in Kolkata, with the white metal priced at Rs. Rs.38,995 per kg.
• Silver traded at Rs.39,950 per kg on 2 November following an increase in local demand due to higher order volumes ahead of the festive season.
• Demand rose as commodity markets took advantage of the unsteady equity markets, increasing demand from booth local as well as international industrial units.
• Silver was priced at Rs.39,355 per kg on 4 November as prices remained constant till the week ended on 5 November.

November 2017- Week 2 (6 to 12)

• The week began with silver priced at Rs.39,355 per kg on 6 November as the previous week’s demand kept prices stable.
• Silver price in Kolkata rose to Rs.40,040 per kg on 7 November over the political uncertainty in the Middle East following the surprise arrests of top ranking Saudi diplomats and officials.
• Local demand followed trends seen overseas as the dollar suffered a drastic plunge, resulting in silver price in Kolkata holding steady at Rs.40,040 per kg on 8 & 9 November.
• Demand began to dip towards the middle of the week, with silver priced at Rs.39,970 per kg on 10 November.
• The price of silver remained unchanged for the remainder of the week as silver ended the week priced at Rs.39,970 per kg on 12 November.

November 2017- Week 3 (13th to 19th)

• The third week saw silver prices rise to monthly highs as the market continued to fluctuate due to the unrest in Saudi Arabia and the ramping up of rhetoric with North Korea.
• Silver was priced at Rs.39,870 per kg on 13 November, with the price falling slightly due to a strong opening by markets across the world.
• Prices rose as the week progressed due to the fallout from Brexit, as the U.K. markets plunged and silver rose to Rs.40,140 per kg on 14 November.
• Silver price in Kolkata continued to rise, as the metal trading at Rs.40,240 per kg on 15 & 16 November due to more orders from Asian industrial units.
• Coin makers also increased demand for the white metal, though prices did not see much of a change.
• Silver price in Kolkata fell to Rs.40,040 per kg on 17 November following the regularising of demand as markets recovered.
• Tensions with North Korea rose up again as the week drew to a close, resulting in silver jumping to Rs.40,520 per kg on 18 & 19 November.

November 2017- Week 4 (20th to 26th)

• Silver traded at Rs.40,440 per kg on 20 November as markets performed well after the previous week’s rise in demand.
• Prices began to gradually regularise themselves as silver rate in Kolkata fell to Rs.39,780 per kg on 21 November, though local demand was steady.
• The decline in demand for silver in the international market resulted in local prices falling to Rs.39,265 per kg on 22 November.
• Prices recovered as silver was priced at Rs.40,060 per kg on 23 November after a rise in local demand following a local market downturn.
• Demand was at the mercy of the stock markets, which led to the white metal trading at Rs.40,040 per kg on 24 November as the U.S. escalated tensions with North Korea.
• The week ended with silver prices continuing to fluctuate, trading at Rs.39,780 per kg on 26 November.

November 2017- Week 5 (27th to 30th)

• The final week of November saw silver prices dip due to a steady drop in demand.
• The metal opened the week trading at Rs.39,780 per kg on 27 November, with the price remaining constant from the previous week as a result of muted trading on the commodity exchanges.
• Silver rate in Kolkata fell to Rs.39,680 per kg on 28 November as demand dropped following a market recovery.
• Silver price in Kolkata dropped to Rs.39,115 per kg on 29 November as the U.S. economy recovered from its earlier losses and appeared to be on the path to recovery in spite of the internal political problems plaguing them.
• Silver price in Kolkata continued to drop as the month drew to a close as the metal traded at Rs.38,640 per kg on 30 November.

Trend of Silver Rate in Kolkata for October 2017 (rates per kg)

Parameters	Silver price (per kg)
Silver Rate on 1st October 2017	Rs.39,530 per kg
Silver Rate on 31st October 2017	Rs.39,435 per kg
Highest Rate in September	Rs.40,440 per kg on 16 October
Lowest Rate in September	Rs.39,110 per kg on 5 and 19 October
Overall Monthly Performance	Decline
Percentage Change	-0.24%

October 2017 - Week 1 (1st-8th):

• Silver opened the week trading at Rs.39,500 per kg on the 1st of October.
• Silver Price in Kolkata remained untouched at Rs.39,500 per kg the next day as well, thanks to steady demand from coin makers and industrial units.
• The next couple of days witnessed rates plunging after the dollar strengthened against other major emerging currencies amid the possibility of an interest rate hike by the US central bank.
• This led to silver prices dropping to Rs.39,110 per kg on the 5th. This was also the lowest recorded monthly figure in Kolkata.
• Strong global cues coupled with an increased local demand led to silver rate in Kolkata rising over the next few days and the industrial metal was trading at Rs.39,680 per kg on the 7th.
• The week concluded with the metal trading steady at Rs.39,680 per kg owing to steady demand from industries and coin makers.

October 2017 - Week 2 (9th-15th):

• The domestic trade witnessed silver rate in Kolkata being greatly influenced during the second week. This was due to the positive trends overseas and the imminent arrival of the festive season during the week.
• The industrial metal was priced at Rs.39,950 per kg when the week began on the 9th.
• With the effect of the festive season kicking in, domestic demand surged in the local trade. This led to silver price in Kolkata surging to Rs.40,060 per kg on the 10th, which further rose to Rs.40,285 per kg on the 11th.
• Kolkata witnessed silver prices trading steady at Rs.40,390 per kg for the rest of the week, thanks to steady industrial demand coupled with strong international market trends.

October 2017 - Week 3 (16th-22nd):

• When trading commenced for the third week, silver was priced higher at Rs.40,440 per kg on the 16th. This was also the highest recorded monthly figure in the city
• Poor global trends amid the strengthening dollar over the next few days led to silver rate in Kolkata plunging to Rs.40,060 per kg and Rs.39,110 per kg on the 18th and the 19th respectively.
• The imminent arrival of Diwali spurred demand higher for the metal pushing rates higher to Rs.40,285 per kg the next day.
• The rest of the witnessed the white metal trading firm at Rs.40,060 per kg, thanks to steady industrial demand from coin manufacturers.

October 2017 - Week 4 & Week 5 (23rd-31st):

• A firm US economy coupled with other poor international trends led to silver rate in Kolkata dropping significantly during the week.
• The week opened with the white metal trading at Rs.40,040 per kg on the 23rd, which rose to Rs.40,060 per kg on account of an increased buying from industrial units and coin manufacturers the next day.
• The 25th, however, witnessed silver price in Kolkata plunging to Rs.39,780 per kg due to a decline in global demand for the metal.
• The next couple of days saw rated declining further to Rs.39,435 per kg after local demand dipped in the wake of the strengthening US economy.
• Poor domestic demand coupled with weak trends overseas led to rates plunging to Rs.39,115 per kg on the 28th and the 29th.
• Thanks to an increase in demand from industrial units and coin makers, the month ended with the white metal prices rising to Rs.39,435 per kg on the 31st.

Trend of Silver Rate in Kolkata for September 2017 (rates per kg)

Parameters	Silver price (per 1 kg)
Silver Rate on 1st September 2017	Rs.40,390 per kg
Silver Rate on 30th September 2017	Rs.39,530 per kg
Highest Rate in September	Rs.41,900 per kg on 9 and 10 September
Lowest Rate in September	Rs.39,530 per kg on 28 to 30 September
Overall Monthly Performance	Decline
Percentage Change	2.12%

September 2017 - Week 1 (1st-10th)

• When trading commenced in Kolkata, the white metal was trading at Rs.40,390 per kg on the 1st of September.
• Thanks to steady and sustained demand from local buyers, prices remained untouched at Rs.40,390 per kg until the 3rd.
• However, silver rates in Kolkata surged to Rs.41,075 per kg on the 4th due to the poorly performing dollar.
• Silver prices in Kolkata rose to Rs.40,340 per kg on the 5th, which further surged to Rs.41,495 per kg on the 6th. This was due to an increase in demand from industries and coin makers making purchases to boost their inventories.
• Demand for the industrial metal dropped, and prices dropped to Rs.40,230 per kg the following day.
• With North Korea having confirmed about its successful thermonuclear test, demand for safe-haven assets like silver skyrocketed over the next three days.
• The 8th witnessed silver trading at Rs.41,675 per kg, which surged further to Rs.41,900 per kg on the 9th. This was also the highest recorded monthly figure in Kolkata.
• The week ended on the 10th with the white metal priced at Rs.41,00 per kg, owing to steady global, as well as, domestic demand.

September 2017 - Week 2 (11th-17th)

• The second week saw silver rates declining significantly as the US economy began to recover.
• Silver opened the week trading at Rs.41,075 per kg on the 11th, which then plunged to Rs.41,030 per kg the next day.
• The white metal prices, however, recovered to touch Rs.41,075 per kg on the 13th, but soon dropped to Rs.40,890 per kg the next day with strengthening of the US dollar.
• The rest of week witnessed silver trading at Rs.40,890 per kg, owing to a low, but steady demand from industries and coin makers.

September 2017 - Week 4 (18th-24th)

• Kolkata witnessed silver rates decline during week owing to poor global trends and reduced local demand.
• The week began with silver priced at Rs.40,440 per kg on the 18th.
• Rates plunged to Rs.39,680 per kg as the dollar gained against other major emerging currencies the next day.
• The 21st witnessed silver rates in Kolkata dropping marginally to Rs.39,670 per kg, on account of reduced local demand.
• Silver prices in Kolkata remained steady at Rs.39,670 per kg for the remained of the week, thanks to steady and sustained local demand from industrial units and coin manufacturers.

September 2017 - Week 4 (25th-30th)

• Silver opened trading at Rs.39,670 per kg on the 25th, when trading commenced for the final week in Kolkata.
• The 26th witnessed silver rates surging to Rs.40,520 per kg, with the arrival of the festive season pushing local demand higher for the metal.
• However, prices dropped in Kolkata to Rs.39,780 per kg on the 27th, which further plunged to Rs.39,530 per kg on the 28th as demand for the metal declined with strengthening of the US dollar.
• Silver rates in Kolkata remained unchanged at Rs.39,530 per kg over the next couple of days with steady demand from local buyers.
• The city of Kolkata witnessed silver rates decline by 2.12% over the course of the month.

Trend of Silver Rate in Kolkata for August 2017 (rates per kg)

Parameters	Silver price (per 1 kg)
Silver Rate on 1st August	Rs.38,925 per kg
Silver Rate on 31st August	Rs.40,040 per kg
Highest Rate in August	Rs.40,190 per kg on 29 & 30 August
Lowest Rate in August	Rs.37,235 per kg on 5 & 6 August
Overall Monthly Performance	Incline
Percentage Change	2.86%

August ‘17- Week 1 (1st to 6th)

• Silver prices in Kolkata fluctuated in the first week of August due to conflicting cues from industry and the markets.
• The industrial metal was priced at Rs.38,925 per kg on 1 August but prices dipped to Rs.48,455 peer kg on 2 August as overseas demand was on the decline due to a recovering U.S. dollar.
• Local demand was also sluggish as orders were slow following the imposition of GST, as silver rate in Kolkata fell to Rs.37,965 per kg on 3 August.
• Demand fluctuated for the rest of the week before settling at Rs.37,235 per kg on 6 August.

August ‘17- Week 2 (7th to 13th)

• Prices continued to be on the lower end as the second week began as industrial units awaited U.S. non-farm jobs data.
• Silver traded at Rs.37,295 per kg on 7 August before rising to Rs.38,345 per kg on 8 August after an influx of orders from Europe boosted prices.
• In spite of poor local demand, silver rate were on the rise as the U.S. economy was weak following the escalation of tension between the United States and North Korea, with silver trading at Rs.38,925 per kg on 10 August.
• Demand steadied at Rs.39,670 per kg on 12 August and remained unchanged as the week ended on 13 August thanks to sustained demand from overseas.

August ‘17- Week 3 (14th to 20th)

• Prices were more or less stable barring a few fluctuations in the third week of August as markets began to stabilise after the previous week’s volatility.
• Silver was priced at Rs.39,670 per kg on 14 August and remained steady for a while before a minor drop in demand led to the metal falling to Rs.38,815 per kg on 16 August.
• Industrial demand from Asia fluctuated as data from China indicated a slowing down of the economy, which brought down orders.
• Silver price in Kolkata recovered marginally as the week ended, with silver priced at Rs.39,115 per kg from 18-20 August.

August ‘17- Week 4 (21st to 27th)

• The week opened with silver trading at Rs.39,115 per kg on 21 August as there was minimal trading in the metal over the weekend.
• Silver prices in Kolkata rose to Rs.39,265 per kg on 22 August as demand from coin makers kept prices high after a slump in demand from overseas industry due to a rising dollar rate.
• Market volatility persisted as geopolitical tensions within the United States led to greater demand for bullion as safe-haven asset, pushing prices to Rs.39,355 per kg on 24 August.
• Demand dropped to Rs.38,995 per kg on 25 August as the rise in the dollar rate coupled with a relatively stable geopolitical situation led to reduced trading in silver.
• The week ended with silver priced at Rs.38,995 per kg on 27 August.

August ‘17- Week 5 (28th to 31st)

• The last week of August saw an increase in demand for silver as local demand picked up, with the metal opening the week at Rs.39,435 per kg on 28 August.
• Silver rate in Kolkata rose to Rs.40,190 per kg on 29 August following a surge in demand from both overseas as well as domestic industrial units in spite of the dollar remaining relatively stable.
• The renewal of war rhetoric and the economic impact of Hurricane Harvey led to markets falling and greater demand for bullion, keeping prices high.
• The month ended with silver priced at Rs.40,040 per kg on 31 August, recording a 2.86% increase in price over the course of the month.

Trend of Silver Rate in Kolkata for July 2017 (rates per kilogram)

Parameters	Silver price
July 1 Rate	Rs.38,640 per kg
July 31 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
Percentage Change	0%

July ‘17- Week 1 (1st to 9th)

• Silver was on the ascent as the week began but prices dropped due to a decline in demand towards the end of the week.
• The industrial metal was priced at Rs.38,640 per kg on 1 July and rose to Rs.38,690 per kg on 3 July as overseas demand was steady in spite of a rising U.S. dollar rate.
• Prices dipped as the markets rose around American independence day, with silver falling to Rs.38,705 per kg on 4 July.
• The drop in price continued as the dollar rate rose as investor confidence increased ahead if the G20 summit.
• Industrial demand was muted as companies awaited the results of the ongoing summit, resulting in silver prices falling to Rs.37,115 per kg from 7-9 July.

July ‘17- Week 2 (10th to 16th)

• The drop in prices continued in the second week, with silver priced at Rs.36,035 per kg on 10 July, the lowest rate for the month as local demand all but came to a standstill.
• Prices were subject to the vagaries of demand as the dollar rate continued to be high, as silver traded at Rs.36,920 per kg on 12 July.
• International concern over the escalating tensions between North Korea and the United States impacted the bourses marginally, though silver prices continued to be low at Rs.36,270 per kg on 14 July.
• A moderate rise in orders from Asia led to silver rising to Rs.37,180 per kg on 15 & 16 July, though overall demand continued to be sluggish.

July ‘17- Week 3 (17th to 23rd)

• Growing tensions between the United States and its neighbours led to the markets falling and a rise in demand for bullion, especially silver.
• The white metal traded at Rs.37,180 per kg on 17 July before prices rose to Rs.37,600 per kg on 18 July amidst growing rhetoric from the U.S. president on the border wall with Mexico and tensions with North Korea.
• Silver price in Chennai rose to Rs.37,705 per kg on 19 July in spite of poor local demand as markets were stable.
• Growing demand from coin makers led to silver prices rising to Rs.37,800 per kg on 21 July and jumping to Rs.38,005 per kg on 22 & 23 July.

July ‘17- Week 4 (24th to 31st)

• Silver price rose as favourable market conditions led to increased demand from overseas buyers such as the Chinese and Europeans, with silver priced at Rs.38,120 per kg on 24 July.
• Local demand was bolstered by higher demand from coin makers and retail purchases, as the metal traded at Rs.38,230 per kg on 25 July before prices rose to Rs.38,690 per kg on 27 July.
• Fluctuations were observed as silver fell to Rs.38,275 per kg on 28 July due to a sudden drop in demand from local industrial units.
• As the U.S dollar rate recovered from its earlier losses, silver prices failed to recover from their slump, trading at Rs.38,460 per kg on 29 July.
• A nominal rise in price was recorded on 31 July as silver ended the month at Rs.38,640 per kg.

Silver as an Investment in Kolkata

• Jewelry and Silverware – Jewelry has been the preferred choice of investment among most households in Kolkata and accounts for a major chunk of all silver utilization. While investing in jewelry and silverware is considered a safe option what one fails to realize is that they get less value for their money. Wastage and making charges increase the money paid to purchase silver items.

• Silver Coins – Silver coins can be purchased according to weight and coins offered by certain countries are considered legal tender, which can be used as currency. Investors can opt for coins by weight, ranging from 1 g to 10g, depending on their needs. These coins can be readily sold or melted, offering cash when needed.

• Silver Bars – Large investors and industrialists prefer to invest in silver bars. These bars can weigh around 1 kg and are an excellent source of investment for those who wish to store large quantities of silver. These bars can be molded into jewelry or could be used for manufacturing purposes.

• Commodity Futures Exchange – Commodity Future Exchanges can be a nice investment option for those who are looking to buy silver in bulk. Big buyers of silver can purchase it directly through commodity futures exchange, which generally deal in silver weighing more than several kilograms.

Silver Price Trend in Kolkata

The price of silver varies according to market conditions and 1 kg of silver in Kolkata costs Rs 37,115 whereas 1 gm of silver costs Rs 39.70 (as of June 2015). Silver prices have been on a roller coaster ride over the last year, reaching a maximum of Rs 46,400 in July 2014 and coming to a low of Rs 33,700 in December. The average price has hovered around the Rs 40,000 in the last year.

The current market rate offers an excellent opportunity to invest in silver as costs are expected to go up in the near future.

Places to Buy Silver in Kolkata

Buying silver in Kolkata is not a hard task and one can purchase it at any of the major jewelers across town. Some of the bigger jewelers who offer good rates on silver are Nisso’s, Jalan Debi Dutt Jewellers, Saraf Jewellers, Senco Jewellery Palace and Balajis. Some of the bigger banks also sell silver which can be purchased from specified branches. Smaller jewelers and pawn shops which sell silver can be found across the city, catering to the needs of individual clients.

Also Know: Gold Rate in Kolkata

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