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 rate in Kolkata 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 2019 (rates per kg)

• In Kolkata, the price of silver opened at Rs.48,100 per kg for the month of December. Silver prices in Kolkata saw an incline over the course of the month.
• The prices of silver dropped from 2 December 2019 to 11 December as there were hopes that the trade deal between China and the US would be signed.
• Silver prices hit its lowest rate on 10 December 2019 and touched Rs.46,400 for a kg. However, the prices of silver increased from 12 December 2019 due to trade concerns and the impeachment of the US President.
• Silver prices touched its highest rate on the last day of the month and hit Rs.50,900 per kg. Overall, silver prices saw a gain of 5.82% in December.

Trend of Silver Rate in Kolkata for November 2019 (rates per kg)

Parameters	Silver Price (per kg)
November 1 Rate	Rs.50,500 per kg
November 30 Rate	Rs.48,100 per kg
Highest Rate in November	Rs.50,700 per kg on 2 and 3 November
Lowest Rate in November	Rs.47,200 per kg on 9 and 10 November
Overall Monthly Performance	Decline
Percentage Change	-4.75%

• The price of silver was affected by the interest rate cut of the US Federal Reserve and it opened at a rate of Rs.50,500 per kg for the month of November.
• The prices increased further on the 2nd day of the month when it went up to Rs.50,700 per kg. This is the highest recorded rate of the precious metal for the month of November. The major reason behind the hike was the US and Chine trade war.
• On the 30th of November, the price of silver closed at the rate of Rs.48,100 per kg. There was an overall dip of –4.75% in the performance of the metal.

Trend of Silver Rate in Kolkata for October 2019 (rates per kg)

Parameters	Silver Price (per kg)
October 1 Rate	Rs.47,400 per kg
October 31 Rate	Rs.50,000 per kg
Highest Rate in October	Rs.50,400 per kg on 26 and 27 October
Lowest Rate in October	Rs.47,400 per kg on 1 October
Overall Monthly Performance	Incline
Percentage Change	5.4%

• Silver rates traded at Rs.47,400 per kg in Kolkata on 1 October. The drop-in silver prices happened due to the rise in dollar as the US economy growing stronger while at the same time lowered interest in the white metal as a safe investment with the US-China trade war continuing. This was also the lowest rate in October.
• Silver prices rose to its highest by the end of the month, at Rs.50,400 per kg, just as tensions between US and China eased as the dollar capped strong gains as well.
• The end of the month saw a steady 5.4% incline in silver rates as the dollar weakened after interest rates were cut by the Federal Reserve. This was with the caveat that further rate cuts would be paused riding on hopes of a truce in the US-China trade war which led to the incline in silver prices by month end.

Trend of Silver Rate in Kolkata for September 2019 (rates per kg)

Parameters	Silver price (per kg)
September 1 Rate	Rs.51,600 per kg
September 30 Rate	Rs.48,500 per kg
Highest Rate in September	Rs.55,200 per kg on 4 September
Lowest Rate in September	Rs.48,500 per kg on 30 September
Overall Performance	Decline
Percentage Change	-6%

• Silver rates in Kolkata opened at Rs.51,600 per kg as steady industrial demand despite conflicting overseas cues bolstered bullion offtake.
• Some fluctuations in demand were observed due to tensions in the Middle East, which drove up bullion demand and boosted prices to Rs.55,200 per kg on 4 September.
• There was a momentary lull in demand as equity markets recovered and interest in safe-haven assets fell, resulting in silver prices dropped steadily despite steady industrial offtake.
• The end of the month saw a continued fall in rates as retail demand plummeted on high import costs, with the metal ending the month at a monthly low of Rs.48,500 per kg on 30 September, with prices falling by 6% during the month.

Trend of Silver Rate in Kolkata for August 2019 (rates per kg)

Parameters	Silver Price (per kg)
August 1 Rate	Rs.44,100 per kg
August 31 Rate	Rs.51,600 per kg
Highest Rate in August	Rs.52,200 per kg on 29 August
Lowest Rate in August	Rs.44,100 per kg on 1 August
Overall Monthly Performance	Incline
Percentage Change	17%

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Trend of Silver Rate in Kolkata for July 2019 (rates per kg)

Parameters	Silver Price (per kg)
July 1 Rate	Rs.40,500 per kg
July 30 Rate	Rs.44,800 per kg
Highest Rate in July	Rs.44,900 per kg on 25 July
Lowest Rate in July	Rs.40,400 per kg on 2 July
Overall Monthly Performance	Incline
Percentage Change	10.61%

Trend of Silver Rate in Kolkata for June 2019 (rates per kg)

Parameters	Silver Price (per kg)
June 1 Rate	Rs.39,400 per kg
June 30 Rate	Rs.40,800 per kg
Highest Rate in June	Rs.41,500 per kg on 21 June
Lowest Rate in June	Rs.39,400 per kg on 1 and 2 June
Overall Monthly Performance	Incline
Percentage Change	3.55%

• There was a rose in silver offtake after the metal opened the month at Rs.39,400 per kg as renewed global uncertainty over the impact of trade disputes dented investor confidence in equity investments.
• Silver rate in Kolkata rose to Rs.40,300 per kg on 6 June as the dollar dropped on weak U.S. jobs data, but a drop in local offtake resulted in prices falling marginally to Rs. 40,100 per kg from 14-18 June.
• A steady U.S. dollar rate dampened interest from coin makers, but rising overseas industrial demand pushed prices up to Rs.41,500 per kg on 21 June. Local retail interest also rose on weak local equity performance, though prices dipped to Rs.41,200 per kg on 24 June.
• Silver price in Kolkata dropped marginally as the month progressed as the dollar recovered and domestic industrial demand fell, resulting in the metal trading at Rs.40,800 per kg to record a 3.55% overall rise in value during the month.

Today's Gold Rate in Kolkata

Trend of Silver Rate in Kolkata for May 2019 (rates per kg)

Parameters	Silver Price (per kg)
May 1 Rate	Rs.40,500 per kg
May 31 Rate	Rs.39,400 per kg
Highest Rate in May	Rs.40,500 per kg on 1 and 2 May
Lowest Rate in May	Rs.39,200 per kg from 20-22 May
Overall Monthly Performance	Decline
Percentage Change	-2.71%

• Silver rate in Kolkata opened at Rs.40,500 per kg as sluggish industrial growth and weak retail demand capped price gains.
• Despite safe-haven sentiment due to the ongoing Sino-U.S. trade tensions, a strengthening dollar rate led to a reduction in silver imports, especially among local industrial units and coin makers.
• Silver rate in Kolkata fell steadily during the month, trading at Rs.39,700 per kg on 17 May as the Huawei crisis dented industrial orders, with prices plunging to Rs.39,200 per kg on 20 May.
• Weak U.S. jobs data led to the dollar slipping as local interest in silver saw the metal trade at Rs.39,500 per kg on 27 May, but rates fell to Rs.39,400 per kg when the month ended.

Trend of Silver Rate in Kolkata for April 2019 (rates per kg)

Parameters	Silver Price (per kg)
April 1 Rate	Rs.40,600 per kg
April 30 Rate	Rs.40,500 per kg
Highest Rate in April	Rs.41,000 per kg on 1 April
Lowest Rate in April	Rs.40,200 per kg on 15 and 24 April
Overall Monthly Performance	Decline
Percentage Change	-0.24%

• The silver rate in Kolkata at the start of the month of April stood at Rs.40,600 per kg. The price remained stagnant from the end of the previous month.
• As the local and industrial demand for the white metal rose amid a repressed dollar value, the price of silver in the city too inclined and traded at Rs.41,000 per kg on 9 April.
• Following the surge, weak economic trends prevailed, and the value of silver then plummeted to Rs.40,200 per kg on 15 April. This was the lowest price point of the metal for the month.
• Silver price in Kolkata then never really recovered, and stood at Rs.40,200 per kg on the 24th. This was also the lowest point for the metal in the month. The metal the marginally rose to Rs.40,500 per kg at the end of the month, recording a declining percentage trend of 0.24% for the month.

Trend of Silver Rate in Kolkata for March 2019 (rates per kg)

Parameters	Silver Price (per kg)
March 1 Rate	Rs.42,700 per kg
March 31 Rate	Rs.40,600 per kg
Highest Rate in March	Rs.42,700 per kg on 1 March
Lowest Rate in March	Rs.40,200 per kg on 29 March
Overall Monthly Performance	Decline
Percentage Change	-4.91%

• Demand for silver in Kolkata was weak as a recovering U.S. dollar and stagnant demand from local industrial units and coin makers reduced offtake during the month after the metal opened at Rs.42,700 per kg.
• Prices dropped to Rs.41,000 per kg on 7 March as positive U.S. jobs data bolstered the equity market and reduced interest in bullion, with local demand unable to sustain prices.
• Silver prices rose briefly to Rs.41,500 per kg on 12 March but constant fluctuations in overseas demand and static interest from the local retail sector saw prices drop to Rs.40,800 per kg on 18 March.
• There was a momentary rise in price as silver traded at Rs.41,300 per kg on 23 March on a slump in the U.S dollar rate but declining demand capped gains as the metal ended the month at Rs.40,600 per kg to record a loss in overall value of 4.91%.

Trend of Silver Rate in Kolkata for February 2019 (rates per kg)

Parameters	Silver Price (per kg)
February 1 Rate	Rs.43,900 per kg
February 28 Rate	Rs.43,300 per kg
Highest Rate in February	Rs.44,100 per kg on 5 February
Lowest Rate in February	Rs.42,700 per kg on 14 February
Overall Monthly Performance	Decline
Percentage Change	-1.36%

• Despite steady local demand, silver prices in Kolkata dropped after opening at Rs.43,900 per kg due to demand vagaries and a fluctuating dollar rate.
• Silver rose to Rs.44,100 per kg on 5 February on steady industrial demand and rising interest from investors looking to hedge against equity losses, but prices dropped to Rs.43,100 per kg on 12 February as the rupee fell heavily against the dollar.
• Poor Asian offtake due to the ongoing Sino-U.S. trade dispute affected global demand, though fears over the economic impact of Brexit and geopolitical tensions in the U.S. boosted prices to Rs.43,900 per kg on 21 February.
• Prices fell marginally as local demand dropped due to a recovering dollar, as overseas offtake was muted amidst positive economic data, resulting in silver trading at Rs.43,300 per kg on 28 February as the metal lost 1.36% in value during the month.

Trend of Silver Rate in Kolkata for January 2019 (rates per kg)

Parameters	Silver Price (per kg)
January 1 Rate	Rs.41,500 per kg
January 31 Rate	Rs.43,900 per kg
Highest Rate in January	Rs.43,900 per kg on 30 and 31 January
Lowest Rate in January	Rs.41,400 per kg on 2 January
Overall Monthly Performance	Incline
Percentage Change	5.78%


• A steady rise in retail demand and stable industrial offtake boosted silver rates in Kolkata after the metal opened at Rs.41,500 per kg on 1 January.
• Fluctuations in the dollar rate due to market volatility as well as the government shutdown spurred greater interest in bullion as prices rose to Rs.42,700 per kg on 13 January.
• Demand vagaries resulted in silver rates falling marginally as the metal traded at Rs.41,800 per kg on 22 January before rising local retail sales propped up prices.
• Despite the dollar rising and markets stabilising after the shutdown ended, demand for silver continued to rise with the metal closing the month at Rs.43,900 per kg to record a 5.78% rise in value over the course of the month.

Silver Rate in India Gold Rate in India

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.

Trend of Silver Price in Kolkata

Silver rate in Kolkata have seen some fluctuations due to prevailing economic conditions as well as local demand. Silver was priced at Rs.41,500 per kg in January and registered a steady rise, peaking at Rs.43,900 per kg when the month ended. Prices continued to climb during the next two months, reaching a high of Rs.44,100 per kg on 5 February before sluggish demand and high import costs derailed demand.

The new financial year saw silver trade at Rs.41,000 per kg in April, though sluggish offtake remained. This downward trend was recorded during May and June as well, with prices dropping to Rs.39,400 per kg in June.

There was a revival in demand during July, as rampant market uncertainty over Brexit and the U.S.-China trade deal dampened equity interest, as silver surged to Rs.44,900 per kg on 25 July to record a staggering 10.61% rise in value. August saw a further spike in demand, as industrial demand peaked despite a steady dollar, which generally lowers local demand. Silver price in Kolkata reached highs of Rs.52,200 per kg on 29 August, though demand petered down in September with the metal falling to Rs.48,500 per kg on 30 September.

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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.

Know About Gold Schemes by Jewellers & Banks : Click Here

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