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Also Check Silver Price In NearBy Cities of Lucknow
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, silver rate today 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.
Historical Trend of Silver Price in Lucknow
| Months | Lowest Silver Price Per Kg | Highest Silver Price Per Kg |
|---|---|---|
| March 2023 | 67,300 | 77,500 |
| February 2023 | 69,000 | 77,300 |
| January 2023 | 73,500 | 75,800 |
| December 2022 | 69,800 | 74,700 |
| November 2022 | 63,700 | 68,500 |
| October 2022 | 60,500 | 67,000 |
| September 2022 | 58,000 | 63,200 |
| August 2022 | 60,000 | 64,800 |
| July 2022 | 60,000 | 65,000 |
| June 2022 | 65,200 | 68,500 |
| May 2022 | 63,400 | 69,500 |
| April 2022 | 68,800 | 75,200 |
Silver Rate in the Most Popular Indian Cities
Trend of Silver Rate in Lucknow for March 2023 (rates per kg)
| Parameters | Silver price (per kg) |
|---|---|
| March 1 Rate | Rs.70,200 per kg |
| March 31 Rate | Rs.77,500per kg |
| Highest Rate in March | Rs.77,500 per kg on 31 March |
| Lowest Rate in March | Rs.67,300 per kg on 10 March |
| Overall Monthly Performance | Incline |
| Percentage Change | 9.41% |
Trend of Silver Rate in Lucknow for February 2023 (rates per kg)
| Parameters | Silver price (per kg) |
|---|---|
| February 1 Rate | Rs.74,800per kg |
| February 28 Rate | Rs.69,200per kg |
| Highest Rate in February | Rs.77,300 per kg on 2 February |
| Lowest Rate in February | Rs.69,000 per kg on 27 February |
| Overall Monthly Performance | Decline |
| Percentage Change | -8.09% |
Trend of Silver Rate in Lucknow for January 2023 (rates per kg)
| Parameters | Silver price (per kg) |
|---|---|
| Parameters | Silver Price (per kg) |
| January 1 Rate | Rs.74,500per kg |
| January 31 Rate | Rs.74,300per kg |
| Highest Rate in January | Rs.75,800 per kg on 16 January and 17 January |
| Lowest Rate in January | Rs.73,500 per kg on 6 January and 19 January |
| Overall Monthly Performance | Decline |
| Percentage Change | -0.26% |
Trend of Silver Rate in Lucknow for December 2022 (rates per kg)
| Parameters | Silver price (per kg) |
|---|---|
| Parameters | Silver Price (per kg) |
| December 1 Rate | Rs.69,800 per kg |
| December 31 Rate | Rs.74,300 per kg |
| Highest Rate in December | Rs.74,700 per kg on 21 December and 22 December |
| Lowest Rate in December | Rs.69,800 per kg on 1 December |
| Overall Monthly Performance | Incline |
| Percentage Change | 6.05% |
Trend of Silver Rate in Lucknow for November 2022 (rates per kg)
| Parameters | Silver price (per kg) |
|---|---|
| Parameters | Silver Price (per kg) |
| November 1 Rate | Rs.63,700 per kg |
| November 30 Rate | Rs.68,000 per kg |
| Highest Rate in November | Rs.68,500 per kg on 15 November |
| Lowest Rate in November | Rs.63,700 per kg on 1 November |
| Overall Monthly Performance | Incline |
| Percentage Change | 6.75% |
Trend of Silver Rate in Lucknow for October 2022 (rates per kg)
| Parameters | Silver price (per kg) |
|---|---|
| Parameters | Silver Price (per kg) |
| October 1 Rate | Rs.62,000 per kg |
| October 31 Rate | Rs.63,000 per kg |
| Highest Rate in October | Rs.67,000 per kg on 5 October |
| Lowest Rate in October | Rs.60,500 per kg on 15 October and 16 October |
| Overall Monthly Performance | Incline |
| Percentage Change | 1.61% |
Trend of Silver Rate in Lucknow for September 2022 (rates per kg)
| Parameters | Silver price (per kg) |
|---|---|
| Parameters | Silver Price (per kg) |
| September 1 Rate | Rs.58,000 per kg |
| September 30 Rate | Rs.61,500 per kg |
| Highest Rate in September | Rs.63,200 per kg on 23 September 2022 |
| Lowest Rate in September | Rs.58,000 per kg on 1 September and 8 September 2022 |
| Overall Monthly Performance | Decline |
| Percentage Change | 6.03% |
Trend of Silver Rate in Lucknow
Silver rate in Lucknow can go through both upward and downward trends based on several local and global economic and political factors. You can keep an eye on the silver rate in Lucknow through daily online news bulletins focused on the silver prices in the city. These can also be found in print in newspapers.
Know - Silver Rate in Uttar pradesh
What are the factors affecting Silver Rate in Lucknow?
There are many factors that affect the silver rate in Lucknow such as:
- Government polices affect silver rates especially those on export and import
- Direction of commodities and gold affects the silver price
- Industrial demand, whether high or low, will affect the silver rates in Lucknow
- Geopolitical factors, such as the Covid-10 pandemic, can influence the prices of silver in the city
- US dollar rates can play an important role
- Crude oil prices can impact silver prices in Lucknow because when the prices dip, the price of silver goes up since it becomes a safe haven investment. Conversely, silver rates can go down when crude oil prices go up.
Know About Silver Rate In India
What are the reasons behind fluctuating silver prices in Lucknow?
There are multiple reasons behind fluctuating silver prices in Lucknow. They are as follows:
- High demand and low supply - Silver investment is often considered as safe investment in India. That is why its usage has multiplied over the years. People buy silver articles on auspicious occasions like festivals or weddings. And this is one of the reasons behind silver being costly as demand exceeds the flow of supply.
- Inflation - The esxpenditure will be less, in case the amount of income is less. the expenditure will also be less. However, the precious metal is often viewed by buyers as a security against inflation. Silver therefore offers protection against any major losses in purchasing power even if the value of the rupee falls.
- Gold Prices - The price of gold also has an effect on the price of silver. If the price of gold falls in the market, the price of silver metal is also likely to fall.
- Crude Oil Prices - High energy is required for mining silver, which comes from crude oil. That is why silver prices get affected by the fluctuations of crude oil prices.
- Government policies - Any changes in the government policies also affect the silver prices.
FAQs on Silver Rate in Lucknow
- Does the silver price in Lucknow change daily?
- Where can I buy the best quality silver in Lucknow?
- What factors affect the silver rate in Lucknow?
-
What is the cheapest way to buy silver in Lucknow?
Silver bars are the best and the cheapest way to buy silver as compared to silver bullion.
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What is the minimum amount of silver that I can purchase on MCX?
The minimum amount of silver that you can purchase on MCX is 100 grams. It should be 99% pure.
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Will the price of silver remain the same in India?
No, the price of silver is revised on a daily basis. Hence, the price will not be the same throughout.
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Is investing in silver a better option than investing in stocks?
Yes, investing in silver a better option than investing in stocks as silver price may increase with time.
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Why does the price of silver go up when the price of oil and US dollar fall?
Silver is considered to be a safe haven. Hence, whenever an event takes place which negatively affects the price of oil and US dollars, the investors tend to invest in silver as they are less volatile in nature and safer bet.
Yes, the silver price in Lucknow can change daily depending on several factors. The rate of crude oil, political and socio-economic factors, the trend of the equities market along with the value of Indian rupee affects the price change in Silver on a daily basis.
You can purchase the best quality silver from the leading silver retailers and jewellers in Lucknow.
There are a number of factors which affect the silver rate in Lucknow which include the value of the dollar and the rupee in the market along with the trend of the bullion market overseas. The price of crude oil and the trend of the equities market also affects silver price.
Read More on Silver
Facts About Silver- About Silver Mining
- Amazing Facts About Silver
- Global Demand and Silver Rates in India
- How to Find Certified/Authentic Silver
- Need for Silver as an Industrial Commodity
- Silver – Poor Man’s Silver
- What Will Happen To Silver Prices In Five Years?
- Lustre Regained by Silver Miners, Good Time to Invest in Silver?
