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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.
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|
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)
|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|
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.
|June 1 Rate||Rs.40,285 per kg|
|June 30 Rate||Rs.38,995 per kg|
|Highest Rate in June||Rs.40,890 per kg on 7 June|
|Lowest Rate in June||Rs.38,455 per kg on 21 June|
|Overall Monthly Performance||Decline|
June ‘17- Week 1 (1st to 4th)
- The price of silver in Kolkata rose over the course of the first week barring a minor fluctuation.
- Silver was priced at Rs.40,285 per kg on 1 June before the price fell to Rs.39,950 per kg on 2 June due to a dip in industrial demand.
- The low U.S. dollar rate as well as the political turmoil in the U.S. led to an increase in demand for silver, which traded at Rs.40,670 per kg on 3 June.
- Prices remained constant as the week ended, closing at Rs.40,670 per kg on 4 June.
June ‘17- Week 2 (5th to 11th)
- Prices opened at Rs.40,670 per kg on 5 June as demand was consistent due to stable demand from Asia as well as European markets.
- Silver rose to its highest rate for the month on 7 June, trading at Rs.40,890 per kg as fresh news on the Russia scandal enveloping the White House caused markets to plunge and unseated the dollar.
- Prices dipped to Rs.40,725 per kg on 8 June due to a decline in demand from local industrial units, which led to the price drop.
- Silver continued to fall in value due to poor demand from overseas markets, as the metal traded at Rs.40,285 per kg on 9 June.
- The week ended with silver priced at Rs.40,060 per kg on 11 June.
June ‘17- Week 3 (12th to 18th)
- Silver traded lower than the previous week as the dollar recovered some of its earlier losses and the markets began to recoup their losses.
- The week opened with silver priced at Rs.39,680 per kg on 12 June before falling to Rs.39,435 per kg on 13 June as local demand fell as the rising dollar made silver imports more expensive.
- Silver traded at Rs.39,265 per kg on 15 June as demand from Europe was also muted as markets were bolstered by positive news from the U.S. jobs market.
- Prices failed to rise as the week drew to a close, trading at Rs.38,640 per kg on 17 & 18 JuUne.
June ‘17- Week 4 (19th to 25th)
- Prices opened at Rs.38,640 per kg on 19 June as demand for silver was constant over the weekend.
- Silver prices fell to Rs.38,455 per kg on 21 June as local demand was poor and industrial demand from Asia was lower than expected.
- Prices rose marginally as silver traded at Rs.38,690 per kg on 23 June and rose further to Rs.38,925 per kg on 24 & 25 June due to an influx of orders from coin makers.
- Local demand began to rise as jewellers and consumers increased demand ahead of the imposition of GST.
June ‘17- Week 5 (26th to 30th)
- Silver opened the week trading at Rs.38,925 per kg on 26 June as demand was more or stable.
- A stable U.S. dollar rate and recovering markets kept demand for bullion low, but local demand led to silver prices rising to Rs.39,115 per kg on 28 June.
- Prices continued to remain constant for the next day as the Indian stock markets were slightly unsteady before GST was rolled out.
- Prices fell to Rs.38,995 per kg on 30 June in spite of stable demand, resulting in silver suffering a loss in value of 3.20%.
|Parameters||Silver Price in Kolkata|
|May 1st Rate||Rs.40,040 per kg|
|May 31st Rate||Rs.40,060 per kg|
|Highest Rate in May||Rs.40,520 per kg on 30th of May|
|Lowest Rate in May||Rs.37,705 per kg on 11th and 12th of May|
May 2017 - Week 1 (1st - 7th):
- On the 1st of May, silver was priced at Rs.40,040 per kg, which then went down to Rs.39,115 per kg on the 2nd due to a massive drop in demand.
- Prices fell again on the 3rd to Rs.38,925 per kg as jewellers - coin makers in particular - remained wary of investing in the metal.
- The 4th saw prices fall yet again and ended the day’s pricing at Rs.38,230 per kg.
- On 5th, silver prices decreased for the fifth consecutive day as rates went down to Rs.37,965 per kg but increased on the 6th to reach Rs.38,005 per kg.
- When the week came to an end on the 7th, silver prices were still holding at Rs.38,005 per kg.
May 2017 - Week 2 (8th - 14th):
- When the second week of May began in Kolkata, silver prices had regressed by Rs.40 to start at Rs.37,965 per kg.
- On the 9th, prices went down by Rs.100 due to a lack of demand for silver to trade at Rs.37,865 per kg.
- The 10th of May was when silver prices hit their lowest for the month. The low prices were due to a constant decrease in demand over the previous few days.
- On the 11th, silver prices were the same as on the 10th - at Rs.37,705 per kg.
- However, silver prices rallied over the next few days to end the week on a relative high.
- During the trading hours of the 12th, silver prices were recorded at Rs.37,865 per kg, which then went up to Rs.38,005 per kg on the 13th.
- The last day of May week 2 didn’t see any price change as silver was still trading at Rs.38,005 per kg.
May 2017 - Week 3 (15th - 21st):
- Unlike the previous week, silver prices gained overnight to start the 15th at Rs.38,230 per kg - a Rs.225 incline.
- Prices went up again on the 16th as demand from coin makers and the industrial sector rose considerably.
- On the 16th, silver was priced at Rs.38,640 per kg and went up again on the 17th to trade at Rs.38,995 per kg.
- Silver rates went up again on the 18th - this time by Rs.270 to close the day at Rs.39,265 per kg, but fell the next day to Rs.38,815 per kg due to a sudden drop in demand.
- Prices rose on the 20th to Rs.39,115 per kg after an unexpected fall the previous day.
- When the week came to an end, silver prices were still remained at Rs.39,115 per kg.
May 2017 - Week 4 (22nd - 28th):
- The fourth week of May saw prices fluctuate consistently due to an uneven demand for the metal.
- When the week began on the 22nd, silver was trading at Rs.39,265 per kg, which inclined to Rs.40,040 per gram on the 23rd.
- However, the rapid rise in demand couldn’t be sustained, leading to a drop of Rs.370 per kg, to bring prices down to Rs.39,670 per kg.
- After an anomalous fall, prices went up to Rs.39,950 per kg on the 25th and remained level on the 26th as well.
- The 27th saw prices increase to Rs.40,190 per kg and remained unchanged till the end of the week.
May 2017 - Week 5 (29th - 31st):
- When trading began for the final week of May, silver prices were recorded at Rs.40,285 per kg.
- Silver prices went up on the 30th to trade at Rs.40,520 per kg - making it the highest trading rate for the entire month.
- The same demand couldn’t be sustained which led to prices falling on the final day of May 2017 to Rs.40,060 per kg.
- Overall, silver prices inclined in Kolkata at a marginal rate of 0.04% for the month of May.
|April 1st Rate||Rs.42,570 per kg|
|April 30th Rate||Rs.40,040 per kg|
|Highest Rate in April||Rs.43,055 per kg on the 15th and 16th of April|
|Lowest Rate in April||Rs.40,040 per kg on the 29th and 30th of April|
April ‘17 - Week 1 (1st to 9th)
- Silver was priced at Rs.42,570 per kg on the first day of April in Kolkata. This price was seen the next day as well.
- However, after this rate of this metal fell on account of the U.S. Fed’s cautious tone regarding rate of interest.
- The price of silver on the 3rd of April was Rs.42,435 per kg which then marginally increased to trade at Rs.42,730 per kg.
- As the the week progressed, the rate of silver fluctuated depending on the demand for this metal, among other factors.
- Although the price of silver on the 5th of April was Rs.42,775 per kg, due to slow economic data from the U.S., price of silver reduced again.
- Silver traded at Rs.42,640 per kg on the 6th of April and fell to Rs.42,570 per kg on the 7th of April.
- Rate of silver increased again to Rs.42,640 per kg on the last two days of the week.
April ‘17 - Week 2 (10th to 16th)
- Due to numerous fluctuations in the demand for silver from coin makers and industrialists, the rate of silver varied during the second week of April in Kolkata.
- Silver opened at Rs.41,625 per kg on the 10th of April and rate of this metal increased slightly the next day.
- On the 11th, silver traded at Rs.41,780 per kg due to a rise in the demand for this metal.
- The price of silver rose significantly to trade at Rs.42,775 per kg on the 13th of April and this could be attributed to an increased demand.
- As the demand for silver increased, this metal traded at Rs.43,055 per kg on the last two days of the week. This was also the highest rate at which silver traded for the month of April.
April ’17- Week 3 (17th to 23rd)
- Silver was priced at Rs.43,030 per kg on the 17th of April which was lower than the rate seen during the previous week.
- As the value of the U.S. dollar increased, the price of silver fell. This trend was noted throughout the entire week.
- There were also a number of changes noted in the rate of silver during this week.
- Silver was priced at Rs.42,775 per kg on the 18th of April and fell to Rs.42,435 per kg on the 19th of April. This price was noted on the 20th of April as well.
- Silver traded at Rs.42,080 per kg on the 21st of April and fell the next day to trade at Rs.41,980 per kg. Silver continued to trade at this rate until the end of the week.
April ’17- Weeks 4 (24th to 30th)
- Silver traded at Rs.41,625 per kg on the first day of the last week of April in Kolkata. This low rate can be attributed to a fall in the demand for this metal.
- As the demand from coin makers and industrialists continued to reduce, the price of silver declined again.
- Silver traded at Rs.41,435 per kg on the 25th of April and fell to Rs.40,520 per kg on the 26th of April. This rate was seen on 27th of April as well.
- Emmanuel Macron, a centrist candidate won the first round of the presidential elections in France resulting in price variations of silver.
- Due to stable but low demand for this metal, the price of silver was Rs.40,190 per kg on the 28th of April. The rate fell again and silver was priced at Rs.40,040 per kg on the last two days of the week. This was also the lowest at which silver was priced for the month of April.
- At the end of the month, a decline of 5.94% was noted in the rate of silver in Kolkata.
|March 1st Rate||Rs. 43,970 per kg|
|March 31st Rate||Rs. 42,115 per kg|
|Highest Rate in March||Rs. 44,100 per kg on 2nd March|
|Lowest Rate in March||Rs. 40,040 per kg on 15th March|
March ‘17 - Week 1 (1st to 5th)
- Silver prices in Kolkata were recorded at Rs.43,970 per kg on the 1st of March, after which they increased by Rs.130 on the second and rose to Rs.44,100 per kg, which made it the highest rate of the metal over the course of the month.
- Demand from industrialists and coin makers fell significantly and as a result saw prices plunge considerably on the 3rd of March.
- The metal traded at Rs.42,730 per kg on the third of the month.
- Prices rose on the 4th of March to Rs.43,295, and they remained at the same level until the close of the week thanks to increase in demand followed by stability.
March ‘17 - Week 2 (6th to 12th)
- The price of silver on the first day of the second week of March was recorded at Rs.42,925 – the same as the price on the closing day of the first week of the month.
- A slight drop in prices over the following few days owing to decline in demand saw them recorded at Rs.42,570 per kg on the 7th of March, Rs.41,900 per kg on the 8th of March, and Rs.41,435 per kg on the 9th of March.
- A major fall in prices on the 10th of March saw the metal trade at Rs.40,670 per kg, after which another decline saw rates fall to Rs.40,520 per kg on the 11th of March.
- Prices remained stable on the last day of the second week of March as demand remained stable and the value of the metal at the close of trading was Rs.40, 520 per kg.
March ’17- Week 3 (13th to 19th)
- The price of silver on the first day of the third week of March was Rs.40,760 per kg thanks to a small increase in demand.
- Prices fell by Rs.320 on the second day of the third week and were recorded at Rs.40,440 per kg.
- On the 15th of March, prices hit their lowest levels in the month as they touched Rs.40,040 per kg, after which an increase by Rs.850 saw them rise to Rs.40,890 per kg on the 16th.
- A minor decline on the 17th saw prices fall to Rs.40,815 per kg and rates remained stable for the next three days, closing the third week of March at Rs.40,815 per kg.
March ’17- Week 4 (20th to 26th)
- Silver opened the penultimate week of the month at Rs.41,075 per kg, marking a small incline from the closing levels of the previous week.
- Prices fell by Rs.350 on the 21st of March and were recorded at Rs.40,725 per kg.
- On the 22nd of the month, prices rose marginally and were recorded at Rs.41,230 per kg.
- Thanks to an increase in demand, silver closed the penultimate week of March on a strong note as rates rose to Rs.41,340 before rising again and closing the seven-day period at Rs.41,435 per kg.
March ’17 – Week 5 (27th to 31st)
- The price of silver on the first day of the last week of March was recorded at Rs.41,900 per kg.
- An increase by Rs.215 on the 28th of the month saw prices rise to Rs.42,115 per kg, and stable demand ensured that prices remained the same on the 29th of the month as well.
- On the 30th of March, prices increased by Rs.320 to settle at Rs.42,435 per kg, and a decline by the same amount on the last day of the month saw the metal close March at Rs.42,115 per kg.
|February 1st Rate||Rs.42,520 per kg|
|February 28th Rate||Rs.44,165 per kg|
|Highest Rate in February||Rs.44,165 per kg on 28th February|
|Lowest Rate in February||Rs.42,115 per kg on 3rd February|
February ‘17 - Week 1 (1st to 5th)
- There were a number of variations noted in the price of silver during the first week of February in Kolkata.
- Silver opened at Rs.42,520 per kg on the 1st due to steady demand for this metal from industrialists.
- The rate of silver rose to Rs.42,640 per kg on the 2nd due to increased demand. However, this could not be sustained and silver prices declined the next day to trade at Rs.42,115 per gram on the 3rd of February. This was also the lowest rate at which silver traded for the month of February in Kolkata.
- Due to fluctuations in the U.S. dollar rate and subsequent increase in demand, the price of silver rose to Rs.42,355 per gram in the 4th of the month.
- Silver closed the first week of February by trading at Rs.42,355 per kg which was the same rate as that of the previous day.
February ‘17 - Week 2 (6th to 12th)
- The second week saw silver trading at Rs.42,520 per kg which was slightly higher than that of the previous day.
- Right after this, due to increased demand from industrialists and jewellers, the price of silver jumped to trade at Rs.42,930 per kg.
- Rate of silver was steady at Rs.42,9200 per kg thanks to sustained but slightly lower demand for this metal.
- Right after a minor lull, the rate of silver bounced back to trade at Rs.42,950 per kg on the 9th of February.
- However, as the rate of the U.S. dollar fluctuated leading to fall in the demand for this metal. As a result the price of silver declined to trade at Rs.42,375 per kg on the 10th of February.
- Prices fluctuated during the week, with silver trading at Rs.42,570 per kg on 11th February due to a sudden rise in demand. Silver was steady at this rate until the end of the week.
February ’17- Week 3 (13th to 19th)
- A minor variation in the rate of the U.S. dollar led to sudden rise in the demand for silver with this metal trading at Rs.43,280 per kg on the first day of the third week of February.
- This demand was however not very steady and fluctuated throughout the week. On the 14th of February, the price of silver was Rs.43,030 per kg.
- Prices rose to Rs.43,115 per kg on 15th February and later rose to Rs.43,385 per kg on 16th February due to a sudden drop in the value of the U.S. Dollar.
- Local demand kept prices stable as demand fluctuated, trading at Rs.43,400 per kg on 18th February.
- The week ended with silver trading at Rs.43,400 per kg on 19th February, due to steady demand.
February ’17- Weeks 4 & 5 (20th to 28th)
- The price of silver in the last two weeks of February fluctuated slightly varying demand for this precious metal from industrialists and coin makers.
- Silver was priced at Rs.43,270 per kg on 20th February, before rising slightly to trade at Rs.43,285 on the 21st of February.
- There was a minor decrease in demand for this metal resulting in prices dropping to trade at Rs.43,240 per kg on the 22nd of February.
- A slight increase in demand from coin makers led to silver trading at Rs.43,680 per kg on 24th February.
- Silver prices rose to Rs.43,910 per kg on 25th February, with the price shooting up to Rs.44,110 per kg on 27th February.
- Silver prices continued to rise as the month ended, trading at Rs.44,165 per kg on 28th February to record an overall rise of 3.86%. This was also the highest at which silver traded for the month of February.
|January 1st Rate||Rs.39,035 per kg|
|January 31st Rate||Rs.41,980 per kg|
|Highest Rate in January||Rs.42,180 per kg on 23rd January|
|Lowest Rate in January||Rs.39,035 per kg on 1st January|
January ‘17 - Week 1 (1st to 7th)
- Silver prices in Kolkata for the month of January registered a significant rise due to consistent demand and favourable market conditions.
- Silver was priced at Rs.39,035 per kg on 1st January and quickly rose as industrial demand pricked up, trading at Rs.39,530 per kg on 3rd January.
- Prices continued to rise, with silver reaching Rs.40,285 per kg on 4th January, an increase of Rs.755 per kg in a single day.
- Higher demand from the domestic market resulted in silver trading at Rs.40,670 per kg on 5th January.
- Prices dipped as the week ended, with silver trading at Rs.40,390 per kg on 7th January due to market fluctuations, which resulted in a lowering of demand for silver.
January ‘17 - Week 2 (8th to 14th)
- Silver prices rose in the second week of January, as volatile markets and local factors all helped increase demand for the metal.
- Silver was priced at Rs.40,390 per kg on 8th January, with the price rising to Rs.40,520 per kg on 9th January on stable demand.
- U.S. markets fluctuated on uncertainty over the transfer of power as Barack Obama left office, which resulted in higher demand for safe haven assets like gold and silver.
- Silver was priced at Rs.41,295 per kg on 11th January on increased demand but dipped in the subsequent days, trading at Rs.41,030 per kg on 13th January.
- Silver ended the week trading at Rs.41,230 per kg on 14th January, registering a weekly increase in price of Rs.840 per kg.
January ’17- Week 3 (15th to 21st)
- The third week of January saw the price of silver fluctuate, as domestic demand was sluggish.
- Silver traded at Rs.41,230 per kg on 15th January as demand led to an increase in price.
- Higher overseas demand led t silver trading at Rs.41,560 per kg on 16th January, with the price rising further to Rs.41,990 per kg on 18th January.
- Fluctuations in demand led to silver trading at Rs.41,675 per kg on 20th January as markets recovered from their earlier slide.
- The week ended with silver trading at Rs.41,930 per kg on 21st January, as domestic demand led to a rise in price.
January ’17- Weeks 4 & 5 (22nd to 31st)
- Prices fluctuated in the last two weeks due to a number of factors, though silver began the week trading at Rs.41,930 per kg on 22nd January.
- Prices rose to a monthly high of Rs.42,180 per kg on 23rd January on high demand but prices fell due to reduced demand from Asia.
- Silver traded at Rs.41,435 per kg on 26th January and dipped further to Rs.41,075 per kg on 28th January as U.S. markets rose on positive data.
- Prices rose as industrial demand increased towards the end of the month, trading at Rs.42,010 per kg on 30th January.
- Silver ended the month trading at Rs.41,980 per kg on 31st January, registering a 7.54% increase in price.
|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|
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News about Silver Rate in Kolkata
Price of gold and silver rise as US attacks a Syrian airfield
The Donald Trump-led US government decided to attack a Syrian airfield after the executive powers at the middle-eastern nation used chemical attacks on its citizens.
Apparently, prices of gold and silver rose by 1% after the US launched over 50 tomahawk missiles and destroyed an airfield in Russia-allied Syrian territory.
While gold prices went up by 1.07%, silver prices went up by 1.02% as people began investing in these metals, which are considered a safe haven in times of uncertainty.
Prices of crude oil also rose by nearly 0.7% after the US attack. However, currencies remained vastly unchanged as pound remained more or less the same against the dollar.
10th April 2017