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Silver Price in Lucknow
Buying silver in India is usually associated only with jewelry and ornamentation, and not with investments. But the views on buying silver in Lucknow are changing as more people have greater access to real time updates and changes in silver rates and investment patterns. News, trends and updates are readily available to anyone who wants to study the same and make money investing in silver.
The “golden city” as it’s called is home to over 4 million people and is a highly developed urban city. This large population is slowly moving on to precious metals as a form of long/short term investment. With a gradually growing interest in investing in precious metals like silver and gold, the people here are one step closer to financial success.
Investing in Silver in Lucknow
Silver coins are available in weights from 10 grams to 500 grams from many vendors. It’s important to ensure that your silver is embossed, marked, stamped or engraved in some way to certify its level of purity. A certificate is also usually issued along with your silver. The risk and reward is marginally lesser in case of coins, because the amount and weight of silver being held is in a lesser quantity.
Silver bullion is an option to invest in greater weight units, in the form of bars or tokens that range from 500 grams up to 5 kilos. Since a larger physical quantity of silver is being held, the changes in market prices will be more impactful on the final profit or loss resulting from the same. Investing in larger quantities is marginally cheaper and most bullion bars are also embossed with serial numbers, which makes it hard to counterfeit them.
Silver coins and bullion can be instantly sold back to a merchant for up to 75% of its value in the market at that particular date, and can be held for longer periods of time to secure a higher price. In this way, it can be collected and used as a safety net that appreciates over time. Collectors and those not proactively involved in managing their silver investment portfolio chose this option, as the silver passively increases its own value.
Silver jewelry incurs a 10% making charge and a 15% melting charge at the time of sale thus increasing the amount of money you spend on acquiring it. It is the most popular form of silver bought and sold in India. It is bought and either held for its craftsmanship, or given as a gift during one of the many festivals and marriages that involve the purchase or gifting of precious metals as assets with aesthetic appeal.
Banks like ICICI, HDFC, Kotak, etc. also sell silver and will always give you the purest form of certified silver, but at a price that’s usually higher than the current market rate. These silver bars are usually imported from an internationally certified mint, making it easier for you to eventually sell your silver for a profit.
Trend of Silver Rate in Lucknow for February 2018 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver Rate on 1st February 2018||Rs.42,600 per kg|
|Silver Rate on 28th February 2018||Rs.41,200 per kg|
|Highest Rate in February||Rs.42,600 per kg on 1 and 2 February|
|Lowest Rate in February||Rs.40,600 per gram on 10 and 11 February|
|Overall Monthly Performance||Decline|
Trend of Silver Rate in Lucknow for January 2018 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver rate on 1st January 2018||Rs.38,925 per kg|
|Silver rate on 31st January 2018||Rs.42,200 per kg|
|Highest Rate in January||Rs.42,700 per kg on 29 January|
|Lowest Rate in January||Rs.38,925 per kg on 1, 2 and 10 January|
|Overall Monthly Performance||Incline|
Trend of Silver Rate in Lucknow for December 2017 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver Rate on 1st December 2017||Rs.38,230 per kg|
|Silver Rate on 31st December 2017||Rs.39,265 per kg|
|Highest Rate in December||Rs.39,365 per kg on 30 and 31 December|
|Lowest Rate in December||Rs.36,545 per kg on 13 December|
|Overall Monthly Performance||Incline|
December 2017 - Week 1 (1st to 10th)
- The week began with the white metal trading at Rs.38,230 per kg on the 1st of December.
- On the 2nd, silver price in Lucknow rose to Rs.38,815 per kg due to an increase in demand by industries and coin makers brought about by the positive trend overseas.
- The 5th, however, saw silver rate in Lucknow dropping to Rs.37,965 per kg after the US dollar gained against a basket of other emerging currencies following the approval of the landmark US tax reform bill.
- Though silver prices rebounded to Rs.38,395 per kg on the 6th, the strengthened US dollar index coupled with firmer equities market led to rates declining to Rs.37,235 per kg the next day.
- A marginal decline in industrial demand brought about by an increase in the US dollar value resulted in silver prices dropping to Rs.36,620 per kg on the 8th.
- Demand, however, slightly picked up towards the end of the week and silver was recorded trading at Rs.36,715 per kg on the 10th.
December 2017 - Week 2 (11th to 17th)
- Silver was trading at Rs.36,920 per kg on the 11th when the second week of trading opened in Lucknow.
- Silver price in Lucknow dropped to Rs.36,620 per kg on the 12th after an incline in dollar fortunes led to a decrease in demand for the industrial metal.
- The 13th witnessed silver rate in Lucknow touching Rs.36,545 per kg - the lowest recorded monthly figure - amid the poor demand brought about by the weak trends overseas.
- The US dollar, however, lost ground as the week progressed with investors speculating over the final result of the country biggest tax system overhaul on the US economic growth. The white metal was priced at Rs.38,395 per kg on the 14th.
- With the US dollar making a recovery ahead of the Federal Reserve’s monetary policy meeting, prices dropped to Rs.36,920 per kg on the 15th.
- Poor global demand coupled with weak trends overseas led to silver price in Lucknow remaining untouched at Rs.36,920 per kg for the rest of the week.
December 2017 - Week 3 (18th to 24th)
- When trading commenced for the third week, the white metal prices were recorded relatively higher at Rs.38,295 per kg on the 18th owing to an increase in demand from the previous week.
- The week witnessed silver prices fluctuating significantly due to demand vagaries brought about by the unevenly performing US dollar and equities market.
- The 19th saw silver rate in Lucknow dropping to Rs.37,800 per kg but soon recovered to Rs.38,395 per kg the next day with the US dollar declining against other apex currencies.
- Though prices plunged again to Rs.37,705 per kg on the 21st, the negative impact of the new tax cuts on the Asian markets led to the white metal rates rising to Rs.38,395 per kg on the 22nd.
- The week ended with the industrial metal being priced at Rs.38,395 per kg on the 24th amid the positive overseas trends that pushed demand higher for the metal.
December 2017 - Week 4 (25th to 31st)
- The final week of December in Lucknow began with silver holding steady at Rs.38,395 per kg on the 31st.
- Though prices dropped to Rs.3,005 per kg on the 26th, silver rates rose to Rs.38,275 per kg on the 27th. The rise in prices was reportedly brought by the poor US dollar performance that increased demand for the metal.
- Silver was priced at Rs.38,815 per kg on the 29th amid the positive trends overseas.
- The 30th saw silver rate in Lucknow hitting its highest recorded monthly figure of Rs.39,295 per kg with an incline in industrial demand brought about by the weakening US dollar.
- The month concluded on the 31st with the white metal trading firm at Rs.39,295 per kg, thanks to steady demand from industrial units and coin manufacturers amid the strong global cues.
- Lucknow recorded an increase of 2.70% in silver rates owing to strong global trends that pushed demand higher for the metal during the course of the month.
Trend of Silver Rate in Lucknow for November 2017 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver rate on 1st November 2017||Rs.38,995 per kg|
|Silver rate on 30th November 2017||Rs.38,640 per kg|
|Highest Rate in November||Rs.40,520 per kg on 18 and 19 November|
|Lowest Rate in November||Rs.38,640 per kg on 30 November|
|Overall Monthly Performance||Decline|
November 2017- Week 1 (1st to 5th)
- The silver rate in Lucknow reflected trends seen in other cities, with the price fluctuating in the first week.
- Silver was priced at Rs.38,995 per kg as the month began as demand was stable following the previous month’s orders.
- Silver price in Lucknow rose to Rs.39,950 per kg on 2 November after demand increased ahead of the festive season, with coin makers and jewellers increasing orders.
- Silver rate in Lucknow fell to Rs.39,355 per kg on 4 November on poor demand as prices remained constant till the week ended on 5 November.
November 2017- Week 2 (6 to 12)
- The week opened with silver trading at Rs.39,355 per kg on 6 November as demand from local industrial units was steady.
- The political turmoil in Saudi Arabia following the surprise arrest of several high-ranking officials led to chaos across word markets, as silver price in Lucknow rose to Rs.40,040 per kg on 7 November.
- As markets tumbled, currencies also plunged globally, which led to higher demand due to the low U.S. dollar rate.
- Silver price in Lucknow continued to remain stable in spite of the various influencing factors, trading at Rs.40,040 per kg on 8 & 9 November.
- Demand fell as the week progressed, with silver trading at Rs.39,970 per kg on 10 November.
- Prices remained constant as the week ended, with silver priced at Rs.39,970 per kg on 12 November.
November 2017- Week 3 (13th to 19th)
- Silver was priced at Rs.39,870 per kg as the week opened on 13 November, with a slight drop in price seen.
- The impasse over Brexit negotiations led to U.K markets falling sharply, which led to an increase in demand for silver in the region as silver rate in Lucknow rose to Rs.40,140 per kg on 14 November.
- Demand for bullion and silver continued to rise due to unstable equity markets, as silver rose to trade at Rs.40,240 per kg on 15 & 16 November.
- Silver price in Lucknow fell to Rs.40,040 per kg on 17 November as local demand was muted.
- Orders from coin makers also rose during this time, though prices did not see much of a change.
- The week ended with silver priced at Rs. Rs.40,520 per kg on 18 & 19 November as the rise of tensions with North Korea led to higher demand for the metal.
November 2017- Week 4 (20th to 26th)
- Silver was priced at Rs.40,440 per kg on 20 November, with rates staying more or less steady.
- Silver rate in in Lucknow dropped to Rs.Rs.39,780 per kg on 21 November as markets began to recover, which resulted in a reduction in interest in bullion.
- Local prices were also affected by the drop in demand for silver, as prices fell to Rs.39,265 per kg on 22 November.
- There was a momentary rise in the price of silver towards the middle of the week, when the metal traded at Rs.40,060 per kg on 23 November following a brief rise in local demand.
- The week ended with silver prices continuing to fluctuate, trading at Rs.39,780 per kg on 26 November.
November 2017- Week 5 (27th to 30th)
- A gradual drop in demand was observed in the last week of November as silver prices fell across local and international markets.
- Silver was priced at Rs.39,780 per kg on 27 November, with prices falling due to poor demand from industrial units and coin makers alike.
- The industrial metal traded at Rs.39,680 per kg on 28 November following a uniform drop in demand across Asia and local industry due to a rising U.S. dollar rate.
- There was no sight of a recovery in the silver rate as the week progressed, with the metal falling to Rs.39,115 per kg on 29 November.
- The month ended with silver trading at Rs.38,640 per kg on 30 November and recording an overall loss in value of 0.91%.
|Parameters||Silver price (per kg)|
|Silver Rate on 1st October 2017||Rs.39,530 per kg|
|Silver Rate on 31st October 2017||Rs.39,435 per kg|
|Highest Rate in September||Rs.40,440 per kg on 16 October|
|Lowest Rate in September||Rs.39,110 per kg on 5 and 19 October|
|Overall Monthly Performance||Decline|
October 2017 - Week 1 (1st to 8th):
- Silver started at Rs.39,530 per kg in Lucknow and traded at the same rate on the next day.
- As the week progressed, the silver price in Lucknow dropped by Rs.265 per kg and traded at Rs.39,265 per kg on 3 October.
- The subdued demand from the retailers, buyers and jewellers and stability of the US dollar further affected the silver price in Lucknow , resulting it to trade at Rs.39,110 per kg on 5 October. This was the lowest prices, across the entire month.
- Prices went up towards the end of the week as the demand from the local market raised.
October 2017 - Week 2 (9th to 15th):
- On the second week of October, the silver traded at Rs.39,950 per Kg.
- The influx of political tension in US due to North Korea’s nuclear power resulted the silver price in Lucknow to steep up to Rs.40,060 per kg on 10 October.
- Prices didn’t fluctuate significantly across the week, but traded at higher price ahead of the festive season.
- The poor job data in US increased the appeal of silver among the buyers and raised the metal’s price by Rs.330 per kg, resulting the metal to be priced Rs.40,390 per kg.
- Silver rate in Lucknow continued to remain the same due to the approaching festive season and instability of US economy.
October 2017 - Week 3 (16th to 22nd):
- Silver price in Lucknow went up from the last day of the second week and opened at Rs.40,440 per kg .
- The rise in the demand on the pre-diwali season and on-going instability of US economy increased the price of silver.
- Silver Price in Lucknow dropped by Rs,1,330 per Kg and touched Rs.39,110 per kg on 19 October due to the weak global cues.
- Later in the week, the drop in the US dollar due to the rising geopolitical tension in Europe increased the demand for safe haven, resulting it to trade at Rs.40,060 per kg.
October 2017 - Week 4 & Week 5 (23rd to 31st):
- Silver Price in Lucknow didn’t fluctuate much from the last week due to the ongoing instability in the US economy.
- On 25 October, the prices fell to Rs. 39,780 per kg due to the dip in the demand for the precious metal. This resulted the MCX silver future to suffer a loss of 0.32%
- Over the course of the week, the silver’s price dropped drastically and traded at Rs.39,115 per kg on 28 and 29 of October.
- The last day of the month saw a rise in the silver rate in Lucknow, due to the volatility in the gold’ price. Silver closed at Rs.39,435 per kg on the last day of the month.
|Parameters||Silver price (per 1 kg)|
|Silver rate on 1st September||Rs.40,390 per kg|
|Silver rate on 30th September||Rs.39,530 per kg|
|Highest Rate in September||Rs.40,900 per kg on 9 and 20 September|
|Lowest Rate in September||Rs.39,530 per kg on 28 to 30 September|
|Overall Monthly Performance||Decline|
September 2017- Week 1 (1st to 10th)
- Silver started at Rs.40,390 per kg on the 1st of September in Lucknow.
- As demand from domestic market poured in, silver prices continued to remain stable till the 3rd of the month.
- On the 4th, silver prices in Lucknow slightly increased and traded at Rs.41,075 per kg.
- On the 6th, silver prices picked up and traded at Rs.41,495 per kg as demand was stable.
- However, silver prices succumbed to a strong U.S dollar and positive employment data in the U.S.
- On 8th, silver prices pricked up again and traded at Rs.51,675 per kg as investors rushed to invest in the bullion market as the news of a nuclear test by North Korea surfaced.
- The highest selling price for the month was recorded on 9th and 10th when silver traded at Rs.41,900 per kg.
September 2017- Week 2 (11th to 17th)
- Strong U.S dollar kept silver prices low throughout the second week of September.
- Silver started at Rs.41,075 per kg.
- On the 12th, silver rates in Lucknow dropped to Rs.41,030 per kg as U.S dollar continued to remain strong.
- On 13th, silver prices settled at Rs.41,075 per kg.
- Silver prices in Lucknow did not see an increase throughout the week as U.S dollar remained strong.
- The lowest silver rate for this week was recorded from 14th of September to 17th of September when silver was sold at Rs.40,890 per kg.
September 2017- Week 3 (18th to 24th)
- In Lucknow, silver traded at Rs.40,440 per kg on 18 September.
- The drop in silver prices was due to the minor dip in orders from Europe.
- Prices continued to fall throughout week 3, with silver trading at Rs.39,670 per kg on 19 September.
- A small increase in silver prices in Lucknow was seen on the 20th of September when the white metal traded at Rs.40,060 per kg. This slight increase can be ignored as the prices quickly fell to Rs.39,670 per kg on the 21st of September.
- From 22nd to 24th of September, silver traded at Rs.40,040 per kg.
September 2017- Week 4 (25th to 30th)
- The last week saw a further decline in the price of silver in spite of continued geopolitical tensions in the United States.
- Following the victory of incumbent Chancellor Angela Merkel in the German elections, silver traded at Rs.39,670 per kg on 25 September and briefly rose to Rs.40,520 per kg on 26 September.
- The impending Catalan independence referendum did not appear to sway markets, which continued to rise, leading to a drop in demand for silver.
- Prices dropped to Rs.39,530 per kg on 28th September and remained constant till the month ended on 30th September.
- The lowest silver price in Lucknow recorded for the month of September in Jaipur was from 28th to 30th of September when silver was sold at Rs.39,530 per kg.
- Silver prices in Lucknow for the month of September in Delhi registered a loss of 2.12%
|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 was priced at Rs.38,925 per kg on 1 August as demand was stable as the month began due to the low dollar rate.
- As the week progressed, there was a rise in the market rate and consequently the dollar rates, both of which resulted in declining interest in bullion.
- Silver price in Lucknow fell to Rs.37,965 per kg on 3 August as demand from overseas dropped due to a rise in the dollar rate.
- Demand from Asian industry dropped as the dollar continued to rise, making imports more expensive and driving down prices.
- A brief rise in price was seen on 4 August with silver priced at Rs.38,120 per kg. However, silver rate in Lucknow fell the following day as demand could not be sustained.
- Silver traded at Rs.37,235 per kg on 5 & 6 August, with the fall in price attributed to the rise in the dollar rate and market forces.
August ‘17- Week 2 (7th to 13th)
- Markets fell at the start of the second week, which led to greater demand for silver in most markets.
- Silver was priced at Rs.38,295 per kg on 7 August, though silver price in Lucknow fell the following day due to declining demand.
- Disappointing U.S. jobs data figures led to a slump in the markets, resulting in greater demand for bullion and a rise in price.
- Demand climbed to Rs.38,925 per kg on 10 August, with silver price in Lucknow continuing to rise as the dollar dropped.
- SIilver traded at Rs.39,530 per kg on 11 August as demand from the United States also boosted prices.
- Local demand also rose, resulting in silver prices rising to Rs.39,670 per kg on 11 August.
- Silver rate in Lucknow were unchanged for the rest of the week, with silver trading at Rs.39,670 per kg on 13 August.
August ‘17- Week 3 (14th to 20th)
- Prices were relatively stable for the week as demand was steady due to consistent orders from industrial units.
- Silver traded at Rs.39,670 per kg on 14 August as local demand began to rise, keeping prices unchanged.
- Silver price in Lucknow dropped marginally to Rs.38,815 per kg on 16 August following a temporary drop in overseas orders.
- Demand spiked as coin makers increased orders, taking the price of silver to Rs.39,530 per kg on 17 August.
- As local demand fell, prices dropped to Rs.39,115 per kg on 18 August, with no change observed till the week ended on 20 August.
August ‘17- Week 4 (21st to 27th)
- Volatile markets and an increase in demand led to silver price in Lucknow rising in the fourth week of August.
- The industrial metal opened the week at Rs.39,115 per kg on 21 August, with the price remaining the same as last week due to stagnant demand.
- Prices rose towards the middle of the week as there was an increase in war rhetoric, which resulted in markets panicking and investors switching to commodities over securities.
- Silver traded at Rs.39,265 per kg on 22 August as higher demand from Asian industry in particular led to a rise in price.
- In spite of overseas demand being high, domestic demand dropped, leading to a fall in the price of silver to Rs.38,995 per kg on 25 August.
- The persistent threat of war with North Korea after the test of a new missile on 26 August led to markets falling across the world.
- There was no change in the price of silver in spite of the drop in dollar rates and volatile markets, resulting in silver ending the week at Rs.38,995 per kg on 27 August.
August ‘17- Week 5 (28th to 31st)
- Prices of bullion, in particular those of silver were on the rise in the last week of August as market conditions and heightened demand pushed prices higher.
- Silver traded at Rs.39,435 per kg on 28 August, with local industry also increasing orders due to the low U.S. dollar rate.
- The hurricane sweeping across the United States led to markets dropping points, which led many investors to gold and silver as a way to safeguard their portfolios.
- The metal rose to Rs.40,190 per kg on 29 August, fuelled by demand from both Asian and European retail demand.
- A drop in demand was recorded as the month ended, with siolver prices falling to Rs.40,040 per kg on 31 August.
- In spite of the late rally and volatile prices, silver recorded an increase of 2.86% over the course of the month.
|Parameters||Silver price (per kg)|
|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 (1 to 9)
- In Lucknow, silver was priced at Rs.38,640 per kg when the month of July began.
- Demand for the white metal remained weak due to weak global cues and poor industrial offtake.
- Silver rates went up to Rs.38,690 on the 3rd - the highest silver rate for the month - as coin makers were trying to take advantage of a comparatively cheaper price trend.
- On the 4th, prices dropped by nearly Rs.1,000 per 1 kg silver to Rs.37,705 per kg as industrial units limited their risk by investing in the metal less and less.
- As the fall in prices pushed coin makers to invest a little more, silver rate in Lucknow went up to Rs.37,800 per kg on the 5th.
- Rates went down to Rs.37,115 per kg on the 7th and remained unchanged due to weak but steady demand from local parties.
July ‘17- Week 2 (10 to 16)
- Due to demand bottoming out - silver reached its lowest rate for the month - Rs.36,035 per kg - on the 10th of July.
- However, as demand picked up slightly, silver prices went up to Rs.36,270 per kg and then to Rs.36,920 per gram on the 12th of the month.
- As there was a steady rise in demand during this week, silver price in Lucknow went up to Rs.37,180 per kg on the 16th when the week ended.
July ‘17- Week 3 (17 to 23)
- The third and penultimate week of July saw silver prices fluctuate due to a shifting demand.
- On the 17th, the white metal was trading at Rs.37,180 per kg, which then increased to Rs.37,600 per kg on the 18th of July.
- As demand from industrial units and coin makers went up, silver price in Lucknow increased to Rs.37,705 per kg the next day.
- Due to some positive global cues and local demand, prices went up to Rs.37,800 per kg on the 21st and increased again on the 22nd to trade at Rs.38,005 per kg.
July ‘17- Week 4 (24 to 31)
- Silver prices rode the sine wave during the final week of July.
- On the 24th of the month, silver prices were recorded at Rs.38,120 per kg which increased slightly to Rs.38,230 per kg on the 25th of July.
- The 27th saw silver rates reach Rs.38,690 per kg - which was the highest silver rate for the month.
- On the 29th, silver price in Lucknow were recorded at Rs.38,460 per kg and increased to Rs.38,640 per kg on the last day of the month.
- Despite some significant ups and downs in trading and demand, silver price trends remained unchanged in Lucknow.
|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 2017 - Week 1 (1st - 4th)
- In Lucknow, the capital city of Uttar Pradesh, silver was priced at Rs.40,285 per kg when trading for the month of June began..
- The 2nd saw prices fall to Rs.39,950 per kg due to there being a decrease in demand from local coin makers and industrial units.
- SIlver rate in Lucknow increased by Rs.720 increase on the 3rd as global tensions pushed demand for the metal up considerably
- When the first week of June came to an end of the 4th, silver was still trading at Rs.40,670 per gram - same as the previous day’s rates.
June 2017 - Week 2 (5th - 11th)
- When the second week of June began, silver prices hadn’t changed at all owing to a steady demand during the closing hours of the previous week.
- On the 7th, silver in Lucknow was trading at Rs.40,890 per kg - which as it happened was the highest silver rate for the month.
- As demand decreased silver prices on the 7th went down to Rs.40,725 per kg and fell again the next day to reach Rs.40,285 per kg.
- On the 10th, silver price in Lucknow decreased further to Rs.40,060 per kg due to a steadily falling demand.
- The last day of June week 2, however, saw silver prices remained the same - at Rs.40,060 per kg, thanks to a stable demand.
June 2017 - Week 3 (12th - 18th)
- Silver prices decline for most of June week 3 as the US economy strengthened and - as a consequence - precious metal prices took a hit.
- When trading started on the 12th, silver was trading at Rs.39,680 per kg, which then decreased to Rs.39,435 per kg on the 13th.
- Silver price in Lucknow went down on the 14th to reach Rs.39,115 per kg but, as demand went up marginally, rates increased to Rs.39,265 per kg on the 15th.
- After than unexpected increase the previous day, silver prices went on their downward path to go down to Rs.38,995 per kg.
- On the 17th and the 18th, gold prices remained at 38,460 per kg - after witnessing a decrease of Rs.535 from the previous day’s rates.
June 2017 - Week 4 (19th - 25th)
- When the penultimate week of June began on the 19th, silver was trading at Rs.38,640 per kg - a Rs.180 increase from the previous day’s prices.
- Rates remained the same on the 20th, before decreasing to hit a monthly low of Rs.38,455 per kg - on the 21st of June.
- Prices went up slightly to Rs.38,460 per kg on the 22nd and gradually increased over the next couple days.
- The 23rd saw silver rate in Lucknow go up to Rs.38,690 per kg and then increase to Rs.38,925 per kg.
- On the 24th, when the week came to an end, silver rates in Lucknow remained at Rs.38,925 per kg.
June 2017 - Week 5 (26th - 30th)
- During the last week of June 2017, prices dropped and fell simultaneously, owing to a haphazard local demand.
- On the 26th, silver was priced at Rs.38,925 per kg, which then went down considerably to Rs.38,455 per kg on the 27th of June.
- The 28th saw prices increase to Rs.39,115 per kg, which continued to remain the same on the 29th as well.
- On the last day of June 2017, silver prices fell marginally to reach Rs.38,995 per kg - marking a Rs.120 decline from the previous day’s rates.
- The month of June in Lucknow saw silver prices change at a considerable high rate of -3.20%, which as it turned out was one of the weakest performance for more than 6 months.
|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.37,705per kg on the 10th and 11th May|
May ’17 – Week 1 (1st – 7th)
- The rate of silver on the first of the month was Rs.40,040 per kg but fell over the next few days.
- As a result of reducing demand for safe-haven bullion due to the Asian equities, the rate of silver was quite low. Another reason is that the U.S. Dollar gained as compared to other currencies such as the yen.
- Silver traded at Rs.39,115 per kg on the 2nd of May before falling to trade at Rs.38,925 per kg on the 3rd of May. This was due to a fall in the demand for this precious metal.
- As the demand for this metal continued to fall coupled with an increase in the value of the U.S. Dollar, the rate of silver plunged to Rs.37,965 per kg on the 5th. This was also the lowest at which silver was priced for the week.
- A marginal recovery the next day saw silver trading at Rs.38,005 per kg. This rate was noted on the last day of the first week as well due to low but steady demand for this metal.
May ’17 – Week 2 (8th – 14th)
- With the strengthening of the euro after Emmanuel Macron’s win in the French Presidential election, the rate of silver varied during the second week of the month.
- Silver traded at Rs.37,965 per kg on the 8th of May and reduced marginally the next day to trade at Rs.37,865 per kg due to fluctuating demand for this metal.
- As the week progressed, the rate of silver continued to fall due to a reduction in the demand for this metal from coin makers and industrialists.
- Silver traded steadily at Rs.37,705 per kg on the 10th and 11th of May. This was also the lowest at which silver was priced for the month of May in Lucknow.
- This metal was priced at Rs.37,865 per kg on the last day of the second week of May.
May ’17- Week 3 (15th – 21st)
- A demand was noted for silver as the value of the U.S. Dollar reduced, resulting in a rise in the rate of silver.
- Silver traded at Rs.38,230 per kg on the 15th of May before rising to trade at Rs.38,640 per kg on the 16th of May.
- After weak manufacturing data from the U.S. reduced expectations of an interest rate hike by the U.S. Fed, the rate of silver inched higher.
- Silver was priced at Rs.38,995 per kg on the 17th of May and increased to Rs.39,265 per kg on the 18th.
- As the demand for this metal increased, the rate of silver rose to trade at Rs.39,115 per kg.
May ’17 – Week 4 (22nd – 28th)
- There were a number of variations noted in the price of silver during the fourth week of the month in Lucknow.
- Silver opened at Rs.39,265 per kg on the 22nd of May before shooting up to trade at Rs.40,040 per kg on the 23rd of May.
- As Asian stocks gained, the rate of silver started to slightly decrease with silver being priced at Rs.39,670 per kg on the 24th of May.
- A marginal rise in the rate of silver saw this metal trading at Rs.39,950 per kg on the 25th and 26th of May due to sustained demand.
- The rate of silver increased due to higher demand on the last two days of the week and the metal trading at Rs.40,190 per kg.
May ’17 – Week 5 (29th – 31st)
- Due to market instability, the rate of silver fluctuated during the final week of the month.
- Easing stock markets in Asia and geopolitical issues resulted in a marginal increase in the rate of silver.
- This metal was priced at Rs.40,285 per kg on the 29th of the month before rising to a monthly high of Rs.40,520 per kg on the 30th of May.
- On the last day of May in Lucknow, silver was priced at Rs.40,060 per kg, recording an incline of 0.04% in the price.
|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)
- On the first day of the month in Lucknow, the rate of silver was Rs.42,570 per kg which was a rate noted in most cities across the country. As a result of continued demand, the rate of this precious metal remained the same on the 2nd of April as well.
- It was observed that U.S. Fed projected a very cautious tone with respect to change in rate of interest, affecting the price of silver.
- Silver traded at Rs.42,435 per kg on the third day of the month and rose to Rs.42,730 per kg on the 4th.
- As a result of sluggish economic data from the U.S, the price of silver varied.
- The rate of silver fluctuated between Rs.42,775 per kg on the 5th and Rs.42,570 per kg on the 7th of April due to varying demand.
- On the last two days of the week, silver traded steadily at Rs.42,640 per kg.
April ‘17 - Week 2 (10th to 16th)
- There are a number of factors that have an effect on the rate of silver, such as demand. As there were variations in the demand for this metal from coin makers in domestic and international markets, the rate of silver varied during the second week of the month.
- On the first day of the second week of April, silver traded at Rs.41,625 per kg and increased to Rs.41,780 per kg on the 11th of April.
- Due to increased demand for this metal from industrialists, the rate of silver was Rs.42,775 per kg on the 13th and continued to rise thereafter.
- As the demand for this precious metal increased, this metal was priced at Rs.43,055 per kg on the last two days of the week. This was also the highest at which silver was priced for the entire month.
April ’17- Week 3 (17th to 23rd)
- Compared to the rates noted during the first and second week of April, silver traded at a lower price on the 17th due to a rise in the value of the U.S. Dollar.
- The rate of silver was quite low during the third week of the month and variations were also seen in its price.
- This metal traded at Rs.42,775 per kg on the 18th of the month and reduced the next day. On the 19th and 20th of the month, the rate of silver was Rs.42,435 per kg.
- On the last two days of the week, silver was priced at Rs.41,980 per kg due to a fall in the demand.
April ’17- Weeks 4 (24th to 30th)
- As the week progressed, the rate of silver was relatively low with a few minor changes in the rate. On the 24th, silver was priced at Rs.41,625 per kg and continued to reduce on account of low demand from coin makers as well industrialists from international markets.
- The French presidential elections had an impact on the rate of silver as well. Centrist candidate Emmanuel Macron won the first round.
- Between the 25th of April and the 27th of April, silver rates varied between Rs.41,435 per kg and Rs.40,520 per kg.
- Fluctuations in demand had an impact on the price of this precious metal.
- On the 29th and 30th of April, this precious metal was priced at Rs.40,040 per kg which was also the lowest at which this metal was priced at for the month of April.
- A decline of 5.94% was noted in the price of silver for the month of April in Lucknow.
|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)
- On 1st, silver in Lucknow was priced at Rs.43,970 per kg which then gained to reach Rs.44,100 per gram.
- Due to a sharp decrease in demand from industries and coin makers, silver rates went down by Rs.1,370 per kg to Rs.42,730 per kg on 3rd.
- The sudden fall was curbed by an increase in demand, which took prices up to Rs.43,295 per kg on the 4th.
- Though silver prices stabilised on the 5th and remained unchanged, the same couldn’t be said for the 6th as rates went down to Rs.42,925 per kg.
March 2017 - Week 2 (6th - 12th):
- When week 2 began on 6th, silver prices had dropped to Rs.42,925 as demand fell over the weekend.
- Rates further fell on 7th to reach Rs.42,570 per kg and then went down again on 8th to hit Rs.41,900 per kg.
- Things weren’t any different on 9th as well as silver prices fell for the fourth consecutive to end at Rs.41,435 per kg.
- The 10th followed the same downward trend as demand from all key industrial sectors fell with prices going down to Rs.40,670 per kg.
- Rates however, consolidated over the last two days, i.e, 11th and 12th as the metal was seen trading at Rs.40,520 per kg.
March 2017 - Week 3 (13th - 19th):
- When trading began on 13th, silver prices had gone up slightly to Rs.40,760 per kg but decreased considerably to Rs.40,440 per kg on 14th.
- On 15th, again, prices went down by Rs.400 to reach Rs.40,040 per kg.
- After consecutive drops, silver price picked up by Rs.850, as demands spiked, to trade at Rs.40,890 per kg.
- The steep increase turned out to be a one-off incident as prices went up slightly on 17th to reach Rs.40,815 per kg.
- Over the next two days till the end of the week, prices remained unchanged as demand consolidated.
March 2017 - Week 4 (20th - 26th):
- When business day began on 20th, silver prices had picked up slightly from the precious day to to trade at Rs.41,075 per kg.
- But as demand went down, silver prices also went down to Rs.40,725 per gram which then went up to Rs.41,230 per kg on 22nd.
- The next two days saw silver rates pick up as demand seemed to increase.
- On 23rd, silver was priced at Rs.41,340 per kg and then increased to Rs.41,435 per kg on 24th.
- The last two days of week 4 saw silver prices hold at Rs.41,340 per kg.
March 2017 - Week 5 (27th - 31st):
- The last week of March saw silver prices pick up in Lucknow.
- On 27th, silver was priced at Rs.41,900 which then increased to Rs.42,115 per kg on 28th.
- As there was no change in demand, prices remained unchanged on 29th but went up to Rs.42,435 per kg on 30th.
- On the last day of March, silver prices took a hit to end at Rs.42,115 per kg.
- Silver price trends in Lucknow saw a decline of -3.61% for the month of March.
|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 2017 - Week 1 (1st -4th):
- When February began, silver was priced at Rs.42,520 per kg which then increased to Rs.42,640 per kg as industrial demand seemed to go up.
- On 3rd, however, silver prices hit their lowest for the month at Rs.42,115 per kg as demand went down for a brief period.
- Rates went up to Rs.42,355 per kg on 4th as silver trading rallied.
February 2017 - Week 2 (5th - 11th):
- On 5th, when week 2 began, silver was still trading at Rs.42,355 per kg and increased by Rs.165 to hit Rs.42,520 per kg.
- The 7th saw price increase again,this time to hit Rs.42,930 per kg - clocking an increase of Rs.410 per kg.
- Prices went down slightly to Rs.42,920 per kg but rallied back up to end 9th at Rs.42,950 per kg.
- As industrial offtake went down, prices hit a low of Rs.42,375 per kg on 10th.
- Rates went up on the last day of week 2 to hit Rs.42,570 per kg as demand went up again.
February 2017 - Week 3 (12th - 18th):
- Silver prices saw considerable ups and downs during the third week of February.
- On 12th, silver was priced at Rs.42,570 per kg and increased significantly to hit Rs.43,280 per kg on 13th.
- The 14th saw prices go down as whatever factors brought about the rise wasn’t there to be see again.
- On 14th, silver was trading at Rs.43,030 per kg and went up to Rs.43,115 per kg.
- The last three days of week 3 in Lucknow saw prices increase after a brief decrease over the previous few days.
- When 15th began, silver was trading at Rs.43,385 per kg and went up to Rs.43,520 per kg on 16th.
- On the last day of week 3, ie., the 18th, silver rates declined to trade at Rs.43,400 per kg.
February 2017 - Week 4 (19th - 25th):
- The fourth week of February too saw some fluctuations as demand kept going up and down.
- On 19th, silver was trading at Rs.43,400 per kg but went down to Rs.43,270 per kg on 20th.
- Rates slightly increased on 21st to reach Rs.43,285 per kg but went down on 22nd to hit Rs.43,240 per kg.
- Prices went up on the 23rd to Rs.43,295 per kg and then to Rs.43,680 per kg on 24th.
- When the week ended on 25th, silver was seen trading at Rs.43,910 per kg.
February 2017 - Week 5 (25th - 28th):
- Rates were on the incline during the last week of February.
- When trading began on 25th, silver was priced at Rs.43,910 per kg and then increased to Rs.44,110 per kg on 27th.
- On the last day of February, silver was still priced at Rs.44,165 per kg.
- Overall, February in Lucknow saw silver prices increase by 3.86% when compared to the trend in January.
|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 traded at a healthy rate of Rs.39,035 per kg on the first day of the first month of the year.
- Due to sustained demand and positive market conditions, the price of silver increased the next day to trade at Rs.39,065 per gram.
- However, this demand could not be sustained and price of silver reduced marginally to trade at Rs.39,530 per kg on the 3rd of January.
- Demand picked up both in domestic as well as international markets due to which the price of silver rose to Rs.40,285 per gram on the 4th of January.
- Due to a further increase in demand, the price of silver continued increasing and traded at Rs.40,670 per kg but reduced after that.
- Silver closed at Rs.40,390 per kg on the last day of the week.
January ‘17 - Week 2 (8th to 14th)
- Silver rates continued to rise in the second week of January due to stable demand and favourable market conditions.
- Silver was priced at Rs.40,390 per kg on 8th January, the price remaining unchanged as demand was consistent.
- Rates rose to Rs.40,815 per kg on 10th January as demand from markets in Asia was high, as silver rose to Rs.41,295 per kg on 11th January.
- Demand could not be sustained however, and silver traded at Rs.41,265 per kg on 12th January but fell the following day to trade at Rs.41,030.
- Silver traded at Rs.40,700 per kg on 14th January as the U.S. Dollar rose.
- Due to the festive season of harvest, the price of silver was relatively high thanks to increase in demand.
January ’17- Week 3 (15th to 21st)
- Rates rose marginally in the third week, though demand fluctuated due to markets.
- Silver traded at Rs.41,230 per kg on 15th of January and rose to Rs.41,560 per kg on 16th January.
- Demand rose as the U.S. Dollar continued to reduce, as silver traded at Rs.41,990 per kg on 18th January.
- The week ended with silver trading at Rs.41,930 per kg on 21st January.
January ’17- Weeks 4 & 5 (22nd to 31st)
- Silver rates in the last two weeks of the month were quite steady as demand was consistent in both domestic as well as international markets.
- Silver traded at Rs.41,930 per kg on 22nd January which was a continuation of the previous day’s price. Price of silver shot up to Rs.42,1480 per kg on 23rd January, the highest price for the month.
- Speculation over the result of the U.S. Federal Reserve meeting to be held towards the end of the month led to a reduction in silver rate.
- Silver traded at Rs.41,435 per kg on 26th of January before falling to Rs.41,075 per kg on 28th on low demand from industry.
- Silver prices varied towards the end of January, closing at Rs.41,980 per kg on 31st January and registered a rise of 7.54%.
Market Rates & Silver Price Trend in Lucknow
The silver rate fluctuates due to many market forces like inflation, demand and supply, movements in the stock market, etc. The price of silver in Lucknow has remained more or less constant over the last few months, staying between Rs.38 and Rs.41 per gram, and is more stable than gold. Detailed study of the fluctuations in prices and the reasons for the same can be used to your advantage as an investor.
Buying Silver in Lucknow
One can buy silver coins, bars and bullion in many retail outlets across Lucknow like Chetan Jewellers, T P Jewellers, ORRA jewellery, Tanishq, and a number of merchants around the city.
When buying silver in Lucknow, it is highly recommended that you buy from a well-established and certified dealer. Ensure that the silver is marked, stamped, engraved or in some way certified and determined to be authentic silver of established purity. Ensure that you also get a certificate of authenticity which contain details of weight, amount purchased, purity and current rate.
Also Check Silver Price in NearBy Cities of Lucknow
|Silver Rate In Delhi||Silver Rate In Dehradun||Silver Rate In Lucknow|
|Silver Rate In Indore||Silver Rate In Bhopal|
|Also Know: Gold Rate in Lucknow|