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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 December 2016 (rates per kg)
|December 1st Rate||Rs.40,450 per kg|
|December 31st Rate||Rs.39,035 per kg|
|Highest Rate in December||Rs.41,630 per kg on 8th December|
|Lowest Rate in December||Rs.38,700 per kg on 23rd December|
December '16 - Week 1 (1st to 4th)
- The price of silver rose marginally during the first week as demand was consistent.
- Silver was priced at Rs.40,450 per kg on 1st December, with the price rising in subsequent days as industrial demand rose.
- Market fluctuations led to increased demand for silver, which also led to prices rising.
- Silver traded at Rs.41,070 per kg on 4th December, marking a marginal increase in price.
December '16 - Week 2 (5th to 11th)
- The second week saw silver prices fluctuate, with silver trading at Rs.41,055 per kg on 5th December.
- Fluctuations in demand led to prices rising to Rs.41,290 per kg on 9th December.
- Domestic markets rose as investor sentiment was high, reducing demand for silver.
- Overseas trends also indicated a reduction in demand for industrial silver, which impacted demand in India.
- Prices recovered marginally as the week ended, with silver trading at Rs.41,345 per kg on 11th December.
December '16 - Week 3 (12th to 18th)
- Silver prices fell in the third week as markets were strong, resulting in investors pulling away from bullion.
- Silver was priced at Rs.41,345 per kg on 12th December, falling to Rs.40,605 per kg on 15th December as retail demand was poor.
- Investors kept away from silver due to greater scrutiny of bullion purchases and a strengthening U.S. Dollar, which made imports more expensive.
- Silver ended the week trading at Rs.39,305 per kg on 18th December, marking a steep fall in value.
December '16 – Week 4 (19th to 25th)
- Prices continued to drop as demand was slow, resulting in silver trading at Rs.39,345 per kg on 19th December.
- Silver fell to Rs.38,815 per kg on 22nd December as retail demand was poorer than expected.
- Overseas demand also slowed down as markets rose on positive economic data, pushing silver to a monthly low of Rs.38,700 per kg on 23rd December.
- Silver traded at Rs.38,725 per kg on 25th December, as economic conditions continued to be unfavourable.
December '16 – Week 5 (26th to 31st)
- Lowered bookings from Asian countries led to silver prices remaining low in the last week of December.
- Fears of a slowdown in the Chinese economy led to reduced trading in silver futures, resulting in silver selling at Rs.38,460 per kg on 26th December.
- Domestic demand continued to be sluggish, though some growth was seen as the week progressed.
- Silver traded at Rs.39,680 per kg on 29th December as markets fluctuated, but silver fell to Rs.39,035 per kg on 31st December.
- Silver prices declined by over 3% for the month of December due to poor demand.
|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 the month began due to strong demand from the industrial as well as the retail sector.
- Silver traded at Rs.42,910 per kg on 1st November and rose during the week as markets were unstable due to uncertainty over the impending U.S. presidential election.
- Silver reached Rs.44,645 per kg on 3rd November amidst brisk trading in silver before prices fell marginally.
- Silver ended the week at Rs.44,180 per kg on 6th November.
November '16 - Week 2 (7th to 13th)
- Prices continued to stay high with demand soaring as markets crashed following the election of Donald Trump as U.S. President and the demonetisation policy.
- Silver traded at Rs.43,685 per kg on 7th November and reached its monthly high of Rs.44,960 per kg following the demonetisation announcement on 8th November.
- Prices stabilised for the rest of the week, though demand was still high.
- Silver ended the week at Rs.42,005 per kg on 13th November.
November '16 - Week 3 (14th to 20th)
- The initial rise in demand for silver following demonetisation began to drop as a currency shortage affected all sections of the economy.
- Silver traded at Rs.41,760 per kg on 14th November, with prices falling during the week as demand dropped.
- The markets also began to recover, leading to industrial demand falling.
- Silver traded at Rs.40,735 per kg on 20th November as demand fell sharply.
November '16 - Week 4 and 5 (21st to 30th)
- Silver prices continued their downward spiral due to the scarcity of notes in the market as well as strict monitoring of bullion trading.
- Silver was priced at Rs.40,890 per kg on 21st November, with a resurgent U.S. Dollar leading to a lowering of demand.
- Prices rose marginally before falling to a monthly low of Rs.40,190 per kg on 25th November as rumours of a U.S. Fed rate hike led to a market rally.
- Silver ended 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 traded at Rs.45,900 per kg at the start of the month on strong demand from both domestic as well as industrial sectors.
- Prices dropped marginally towards the middle of the week due to a dip in industrial demand.
- The strengthening of the U.S. Dollar also contributed to declining demand for the metal in international markets, pushing domestic demand lower.
- Silver was priced at Rs.41,800 per kg on 9th October, recording its steepest drop in price on 7th October, trading at Rs.41,685 per kg.
- Silver recorded the sharpest drop in price for the month, falling by Rs.4,100 per kg during the week.
October ’16- Week 3 (10th-16th)
- A marginal increase in prices was observed as demand from jewellers increased due to the ongoing festive season.
- Silver was priced at Rs.42,600 per kg on 10th October.
- As international demand weakened due to rising stocks, this was reflected in the domestic market, with prices falling.
- Silver traded at Rs.41,780 per kg on 16th October as prices continued to drop owing to stagnating demand from the industrial sector.
- Prices fell by Rs.820 per kg during the week.
October ’16- Week 4 (17th-23rd)
- Silver prices made a slight recovery, resulting in prices rising fractionally as the U.S. markets fluctuated due to the upcoming elections.
- Demand increased as the U.S. Dollar fell against other global currencies and Asian stocks tumbled.
- Silver traded at Rs.41,970 per kg on 17th October, with prices rising as the week progressed.
- Silver traded at Rs.42,130 per kg on 23rd October, reflecting an increase of Rs.160 during the week.
October ’16- Week 5 (24th-31st)
- Silver prices stayed more or less stable as markets were unsteady but industrial demand was muted.
- Silver traded at Rs.42,330 per kg on 24th October, after which prices rose due to uncertainty resulting in plunging markets.
- Silver was priced at Rs.43,035 per kg on 31st October, reflecting an overall decrease of Rs.2,865 for the month of October.
|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)
- The month of September started with silver prices low at Rs.45,225 per kilogram. This was the lowest price for the entire month.
- Prices picked up as expectations of a Fed rate hike died down.
- Domestic demand also picked up and silver prices touched Rs.46,760 per kilogram on 3rd and 4th September.
September '16 - Week 2 (5th to 11th)
- Silver traded at Rs.46,760 per kilogram on 5th September and prices started to climb.
- The highest price recorded for this month was Rs.47,820 per kilogram on 7th September.
- Prospects of a Fed rate hike sprouted up again leading to a dip in prices.
- Silver traded at Rs.46,835 per kilogram by the end of the week.
September '16 - Week 3 (12th to 18th)
- Silver traded at Rs.45,715 per kilogram on 12th September.
- Demand for silver was reduced as trends in the global and domestic market were gloomy.
- Prices fell to Rs.45,370 per kilogram by the end of the week as expectations of an interest rate hike from the U.S. Federal Reserve rose.
September '16 - Week 4 (19th to 25th)
- Bullish trends took over the market as the Fed rate hike was put off in light of the approaching U.S. presidential elections.
- The price of silver was at Rs.46,110 per kilogram on 19th September.
- Prices rose to Rs.47,590 per kilogram on 22nd September, the highest price for this week.
- There was an increase in the industrial offtake in the domestic market.
- Silver rates dropped to Rs.47,535 per kilogram on 23rd September and remained unchanged till the end of the week.
September '16 - Week 5 (26th to 30th)
- Silver prices started to drop this week as the atmosphere in the global market turned bearish.
- Silver traded at Rs.46,950 per kilogram on 26th September.
- Demand in the domestic market was subdued.
- Silver traded at Rs.45,750 per kilogram on 30th September.
- The overall trend for this month was an increase of 1.16%.
|1st August||Rs.49, 430|
|31 August||Rs.45, 460|
|Highest Price||Rs.49,670 per kg on August 03rd|
|Lowest Price||Rs.44, 805 per kg on 29th August|
|Trend||Decline in Silver prices|
August '16 – Weeks 1 (1st to 7th)
- There was a slight decline in silver prices mainly due to lack of demand from the domestic market.
- Silver traded at Rs.49,670 per kg on August 03rd which is the highest silver price in the month of AUgust, 2016.
- Silver traded at Rs.49, 430 per kg at the beginning of this week and declined to Rs.Rs.47, 255 per kg by the end of the week.
- Silver prices reduced by Rs. 2175 per kg on the first week of August.
August '16 – Week 2 (8th to 14th)
- Silver opened at RS.47,460 per kog at the beginning of the week and was steady for two days.
- Silver prices increased slightly midweek by about Rs.870 per kg before it declined by the end of the week.
- Silver closed at Rs.47,750 per kg. Lack of demand from coin makers contributed to slight fall in silver prices.
August '16 – Week 3 (15th to 21st)
- Silver traded at Rs.47,750 per kg at the beginning of the week.
- Despite lack of demand from local merchants, silver prices managed to remain steady with slight decrease in prices.
- Following weak trend overseas, silver prices fell by about Rs.600 per kg on 20th of August.
August '16 – Week 4 (22nd to 28th)
- Silver prices continued to remain low after Federal Reserve Chair, Janet Yellen hinting about a U.S interest rate hike in the near future. Silver prices varied from Rs.45,010 per kg to Rs.45,935 per kg throughout the week.
- Positive U.S employment data, possible interest rate hike and lack of demand from local jewellers forced silver prices stay low.
- Experts believe the fast approaching festive season in India will surge silver prices in the second half of the year. Silver closed at Rs.45,040 per kg.
August '16 - Week 5 (29th to 31st)
- The much speculated FED rate hike further lowered silver prices in india.
- Dollar stayed firm as silver prices dropped.
- SIlver traded at Rs.44, 805 per kg on 29th August, which is the lowest price in the month of August.
|1st Day||Rs.46,490 per kg|
|Last Day||Rs.48,970 per kg|
|Highest Price||Rs.49,745 per kg on 11th July|
|Lowest Price||Rs.46,490 per kg on 1st July|
July'16 - Week 1 and 2 (1st to 10th)
- Silver opened at Rs.46,490 per kg on the first day of the month after which prices slightly increased over the course of the next two weeks.
- Rate of silver was steady at Rs.47,920 per kg over the next two days and increased slightly after that.
- Prices increased even further over the next few days to cross Rs.49,000 per kg.
- On the final day of the second week, price of silver was Rs.47,720 which was lesser than the rate of the previous few days.
July'16 - Week 3 (11th to 17th)
- The week opened with silver being priced at Rs.49,745 per kg which was also the highest for the month of July.
- Amid rising global cues and strong demands, price of silver continued to be quite high.
- There were minor fluctuations noted in the price of silver as the third week of July progressed.
- The week closed with silver being priced at Rs.48,840 per kg which was also one of the higher rates for the week.
July '16 - Week 4 (18th to 24th)
- There was a minor decline noted in the price of silver on the first day of week four as compared to the previous week.
- Rate of silver continued to decrease as the month progressed.
- The fourth week of the month closed with silver being priced at Rs.47,420 per kg amid decreasing demand from jewellers and coin makers.
July‘16 - Week 5 (25th to 31st)
- There was again a minor decline noted in the price of silver on the first day of the fifth week of July as compared to the rates of the previous week.
- There was however, a slight increase noted in the price of silver after that.
- Silver closed at Rs.48,970 per kg on the last day of the month.
|June 1st Rate||Rs.38,640 per kg|
|June 30th Rate||Rs.44,635 per kg|
|Highest Rate in June||Rs.44,635 per kg on the 30th of June|
|Lowest Rate in June||Rs.38,640 per kg on the 1st of June|
June 2016 – Week One(June 1st to June 4th)
- Silver opened the month by trading at Rs.38,640 per kg on the 1st of June.
- The rate of silver increased by Rs.225 to Rs.38,865 on the 3rd of June.
- Silver traded at Rs.39.755 per kg on the 4th of June.
Jun'16 - Week 2 (5th to 11th)
- The rate remained unchanged as silver traded at Rs.39,755 per kg on the 5th of June.
- The price of silver dropped down to Rs.39,585 per kg on the 8th of June due to low demand.
- Silver traded at Rs,41,510 per kg on the 11th of June.
Jun'16 - Week 3 (12th to 18th)
- The price of silver stayed constant as it traded at Rs.41,510 on the 12th of June.
- Silver climbed up to Rs.41,935 per kg on the 13th of June.
- Silver hit the highest for the week on the 16th of June at Rs,42,985 per kg.
- Prices dropped down as silver traded at Rs.42,235 per kg on the 18th of June.
Jun'16 - Week 4 (19th to 25th)
- Silver traded at Rs.42,235 per kg on the 18th of June with no change in prices from the last week.
- As demand increased, the price of silver increased to Rs.42,405 on the 21st of June.
- The price of silver further rose over the week and hit the highest for the week on the 24th of June at Rs.43,465 per kg.
Jun'16 - Week 5 (26th to 30th)
- Silver remained unchanged at Rs.43,465 per kg on the 25th and 26th of June.
- The price of silver dropped down by Rs.55 to Rs.43,410 on the 27th of June owing to low demand in the domestic and global market.
- Silver closed the month at Rs.44,635 on the 30th of June.
|1st May rate||Rs. 42,590|
|31st March rate||Rs. 39,065|
|Highest rate in May||Rs. 42,675 on 2nd of May|
|Lowest rate in May||Rs. 38,795 on 30th of May|
May '16 - Weeks 1 and 2 (1st to 8th)
- Silver rates in Kolkata traded at Rs. 42,590 on the 1st of May and closed the week at Rs. 41,875.
- The trend was towards an appreciating silver trade but market conditions were unfavourable, resulting in a decline throughout the week.
- A fluctuating market and gains by foreign currencies resulted in silver being unable to recover its losses.
- There was a slight surge in price on the 5th of May, but the rates steadied and declined slightly thereafter.
May '16 -Week 3 (9th to 15th)
- Lessening of demand by industrial units and gains by the currency markets led to silver prices continuing to trade below the month’s average.
- Silver traded at Rs. 41, 725 on the 9th of May and at Rs. 41, 255 on the 15th of May.
- Prices moved downwards after an initial rally mid-week due to estimated better-than-expected data from the U.S. job market and the likelihood of a Federal Reserve interest rate hike in June.
- The Dollar made gains as news of the Fed interest rate hike and a strengthening economy came in, pushing silver prices down.
May '16 - Week 4 (16th to 22nd)
- Silver fell for a fourth successive week as the Dollar continued to strengthen and make gains over global currencies as reports predicting increased economic growth came in.
- Silver started the week trading at Rs. 41,255 on the 16th of May, with the rate falling to Rs. 40,135 on the 22nd of May.
- Demand also slackened, contributing to the drop in prices over the week.
- Rates steadied towards the end of the week but could not make gains.
May '16 - Weeks 5 and 6 (23rd to 31st)
- With the U.S. manufacturing industry expanding, the US Dollar made gains during the week, making it expensive to trade in silver, keeping the price low.
- Silver was trading at Rs. 40,060 on the 23rd of May and at Rs. 39,065 on the 31st of May, its lowest price since the start of the year.
- A slump in silver sales and poor performance of bullion stocks kept investors away from silver, while the Dollar continued to grow amid reports of a rate hike by mid-June.
|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 fluctuated widely in the first week of trading as prices kept moving up and down until the 4th of the month after which point they began to rise steadily.
- Prices were recorded at Rs.36,780 on the 1st of the month and Rs.36,620 on the tenth day of the month.
- Despite marginal declines in the first few days, prices rose and remained consistent during the last few days of trading thanks to firming international and domestic cues in addition to increase in industrial demand and higher offtake.
Apr ‘16 - Week 3 (11th to 17th)
- Silver prices were constantly on the rise during the third week of trading.
- Prices were recorded at Rs.37,115 on at the start of the week and Rs.39,110 by the end of the seven-day period.
- Prices were on the up by almost Rs.2000 over the course of these seven days, marking a significant incline thanks to increase in demand and strong global cues amidst weakening of the dollar and high offtake.
Apr ‘16 - Week 4 (18th to 24th)
- The fourth week of April also witnessed gains in silver rates as the trend was maintained.
- Prices were recorded at Rs.38,920 on the first day of the week and Rs.41,155 on the last.
- The overall increase in price was in excess of Rs.2200, making the penultimate week of trading record the highest gains in the month.
Apr ‘16 - Week 5 (25th to 30th)
- Silver rates fluctuated during the final week of trading as prices increased for the first three days before declining marginally on the following two days and then increasing again only to fall by Rs.100 on the final day of the month.
- Despite the fact that prices fluctuated during the course of the week, there was an increase in rates to the extent of almost Rs.1800 over the seven-day period.
|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 lost value in the first week of trading in March.
- Prices were Rs.37,005 on 1st and Rs.36,640 on 6th.
- Silver rose to a high of Rs.37,710 on 2nd before stabilising at Rs.36,640 for the rest of the week.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Silver prices declined in the second week.
- Prices were Rs.37,695 on 7th and Rs.37,710 on 13th.
- Silver started out the week at a high of Rs.37,695 before dropping on 8th and remaining stable at Rs.37,710 after that.
Mar'16 - Week 3 (14th to 20th)
- Silver prices were marginally up in the third week.
- Prices were Rs.37,650 on 14th and Rs.37,865 on 20th.
- Prices touched a monthly high of Rs.38,640 in the week before settling Rs.215 higher.
Mar'16 - Week 4 (21st to 27th)
- Silver lost value in the 4th week.
- Rates were Rs.37,930 on 21st and Rs.36,685 on 27th.
- Silver prices appreciated to Rs.38,040 on 22nd before sliding over the rest of the week to Rs.36,685.
Mar'16 - Week 5 (28th to 31st)
- Silver rates were marginally lower in the last days of March.
- Prices were Rs.36,570 on 28th and Rs.36,495 on 31st.
|1st February rate||Rs.34,970|
|29th February rate||Rs.36,295|
|Highest rate in February||Rs.38,640 on 12th|
|Lowest rate in February||Rs.34,970 on 1st|
Week 1 (1st to 7th)
- Silver gained value in the first week of trading in February.
- Prices were Rs.34,970 on 1st and Rs.36,925 on 7th.
- Silver prices appreciated all throughout the week, rising by Rs.1,955 on the whole by the end of the week.
Week 2 (8th to 14th)
- Silver gained some more value in the second week.
- Prices were Rs.36,950 on 8th and Rs.38,525 on 14th.
- Silver once again rallied through the week, posting profits on 6 out of 7 days and rising by Rs.1,575 over the week.
Week 3 (15th to 21th)
- Silver prices were marginally up in the third week.
- Prices were Rs.37,220 on 15th and Rs.37,930 on 21st.
- Prices stayed in the 37,000s, closing the week at Rs.710 higher.
Week 4 (22nd to 29th)
- Silver halted its positive weeks of trade, shedding some of the gains in the latter end of February.
- Rates were Rs.37,615 on 22nd and Rs.36,295 on 29th.
- Silver lost Rs.1,320 in the final days of the month, falling on all days of the week.
4 th January rate
31 st January rate
Highest rate in January
Rs.35,565 on 28th
Lowest rate in January
Rs.33,295 on 13th
Jan '16 - Week 1 (4 th to 10 th )
Silver prices appreciated in the 1st week of January.
Prices were Rs.33,230 on 4th and Rs.33,865 on 10th.
Silver appreciated to Rs.34,220 by 8th before dropping to Rs.33,865 on 9th, where it settled on 10th also.
Jan '16 - Week 2 (11 th to 17 th )
Silver Rates were up again in the 2nd week.
Prices were Rs.33,750 on 11th and Rs.34,335 on 17th.
Silver dropped to Rs.33,295 by 13th before recovering and posting gains on 14th to settle at Rs.34,335.
Prices remained at Rs.34,335 for the remaining days.
Jan '16 - Week 3 (18 th to 24 th )
Silver continued its appreciation in the 3rd week also.
Prices were Rs.34,115 on 18th and Rs.34,425 on 24th.
Silver gained value to rise to Rs.34,480 by 22nd and then slid slightly to Rs.34,425 on 23rd where it was stable on 24th.
Jan '16 - Week 4 (25 th to 31 st )
Silver posted gains in the 4th week also, wrapping up the month on appositive note.
Prices were Rs.34,435 on 25th and Rs.34,930 on 31st.
Silver appreciated on consecutive days to touch Rs.35,565 on 28th but depreciated on 29th and 30th to end the month at Rs.34,930.
|Highest rate in December||Rs.35,050 on 5th and 6th|
|Lowest rate in December||Rs.33,050 on 18th|
- Silver Rates appreciated in the 1st week of the month.
- Prices were Rs.34,040 on 1st and Rs.35,015 on 7th.
- Silver dropped to Rs.33,660 on 3rd but rallied over the remaining part of the week to touch Rs.35,015 by the end of the week.
- Silver Rates depreciated in the 2nd week of the month.
- Prices were Rs.34,415 on 8th and Rs.33,670 on 14th.
- Silver was selling just above Rs.34,000 all through the week except for 11th (Rs.33,915) and 14th (Rs.33,670).
- Silver gained marginal value in the 3rd week.
- Prices were Rs.33,230 on 15th and Rs.33,900 on 22nd.
- Silver was stable all through the week and was being traded within the range of Rs.33,050 to Rs.33,900.
- Silver prices were stable overall in the final days of December.
- Rates were Rs.34,020 on 22nd and Rs.33,405 on 31st.
- Silver was stable in the range of Rs.34,020 to Rs.34,275 till 28th.
- Prices dropped below Rs.34,000 on 29th when silver was selling at Rs.33,490, before ending the month at Rs.33,405 on 31st.
|Highest rate in November||Rs.37,250 on 1st, 2nd and 3rd|
|Lowest rate in November||Rs.33,940 on 30th|
- Silver Rates depreciated in the 1st week of the month.
- Prices were Rs.37,250 on 1st and Rs.35,650 on 7th.
- Silver dropped to Rs.36,200 on 4th, Rs.36,100 on 5th and Rs.35,650 on 7th.
- Silver Rates decreased in the 2nd week of the month.
- Prices were Rs.35,650 on 8th and Rs.34,500 on 14th.
- There was a drop in prices on 9th to Rs.35,350 before the losses were covered in the next day.
- Silver dropped to Rs.34,950 on 11th, Rs.34,800 on 12th and Rs.34,500 on 14th.
- Silver lost value again in the 3rd week.
- Prices were Rs.34,500 on 15th and Rs.34,050 on 22nd.
- Silver gained Rs.50 on 18th but lost Rs.300 on 19th to settle at Rs.34,250.
- Prices appreciated marginally again on 21st to Rs.34,450 but lost the gains on 22nd to settle at Rs.34,050 for the rest of the week.
- Silver prices were stable overall in the final days of November.
- Rates were Rs.34,050 on 23rd and Rs.33,940 on 30th.
- Silver was mostly stable through the week except for 25th and 26th when prices rose to Rs.34,290 and Rs.34,310 respectively.
- Rates declined to Rs.34,090 on 28th and again to Rs.33,900 on 30th.
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|