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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 July 2017 (rates per kg)
|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.
Trend of Silver Rate in Lucknow for June 2017 (rates 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 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%.
|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)
- As industrial demand was high, silver traded at Rs.40,450 per kg on 1st December.
- The price of silver rose to Rs.40,795 per kg on 2nd December as international demand also increased.
- The U.S. Dollar fell against global currencies which resulted in an increase in demand for silver.
- In spite of lower than expected retail demand, silver prices rose to Rs.41,070 per kg on 3rd and 4th December.
December '16 - Week 2 (5th to 11th)
- Silver prices rose during the week, trading at Rs.41,055 per kg on 5th December.
- Steady demand from the industrial sector and fluctuating stock markets led to increased demand overseas.
- Silver traded at a monthly high of Rs,41,680 per kg on 8th December as festive buying bolstered regional demand.
- As the week ended, however, demand dropped as markets began to recover, resulting in silver prices dropping to Rs.41,345 per kg on 11th December.
December '16 - Week 3 (12th to 18th)
- The third week of December saw the price of silver drop further on poor demand from the industrial sector and declining overseas demand.
- Silver prices were unchanged as the week began, trading at Rs.41,345 per kg on 12th December.
- A drop in demand resulted in prices falling to Rs.41,220 per kg on 13th December.
- Prices fell further as the week progressed, with silver trading at Rs.39,305 per kg on 18th December, marking a steep fall in price due to a decrease in demand.
December '16 – Week 4 (19th to 25th)
- The week before Christmas led to silver prices falling as festive shopping strengthened the U.S. Dollar, which led to a decrease in demand for bullion.
- Silver traded at Rs.39,435 per kg on 19th December as domestic demand also fell, following global trends.
- Prices failed to recover as the week progressed, with silver prices dropping to a monthly low of Rs.38,700 per kg on 23rd December.
- The end of the week saw prices rise fractionally, with silver trading at Rs.38,725 per kg on 25th December.
December '16 – Week 5 (26th to 31st)
- Prices failed to recover in the last week as demand was sluggish, resulting in silver trading low.
- Silver was priced at Rs.38,460 per kg on 26th December as currency markets continued to perform well.
- Prices inched higher towards the middle of the week as domestic retail demand rose following an easing of the currency shortage.
- Silver prices rose to Rs.39,630 per kg on 30th December before falling to Rs.39,035 per kg on 31st December, recording a loss of 3.49% in overall value.
|November 1st Rate||Rs.42,910 per kilogram|
|November 30th Rate||Rs.41,055 per kilogram|
|Highest Rate in November||Rs.44,960 per kilogram on 9th of November|
|Lowest Rate in November||Rs.40,190 per kilogram on the 25th of November|
November '16 - Week 1 (1st to 6th):
- The month og November witnessed massive fluctuations with regards to silver prices.
- At the beginning of the month on the 1st, silver traded at Rs.42,910 per kilogram.
- On 2nd, prices increased significantly as silver traded at Rs.44,385 per kilogram.
- The 3rd and 4th of November as well saw some fluctuations as silver traded at Rs.44,645 and 43,855 per kilogram respectively.
- Prices,however, stabilised during the last two days of the week as prices reduced and silver began to trade at Rs.44,180 per kilogram.
November '16 - Week 1 (7th to 13th):
- At the start of the second week on the 7th, silver prices fell slightly as the metal traded at Rs.43,685 per kilogram.
- On the 8th, prices increased slightly by Rs.170 to hit Rs.43,855 per kilogram.
- The 9th of the month saw the highest pricing for silver as the metal traded at Rs.44,960 per kilogram.
- The rapid surge and downfall in demand was primarily due to the demonetization scheme introduced by the Narendra Modi-led government.
- End of the week on 13th, however, prices fell significantly to close at Rs.42,005 per kilogram.
November '16 - Week 3 (14th to 20th)
- During the third week beginning on the 14th, silver traded at Rs.41,760 per kilogram.
- However, as demonetization of Rs.500 and Rs.1,000 intensified, prices began to fall for the rest of the week.
- Prices fell massively throughout the week as government introduced stricter steps for jewellery buyers to follow.
- Due to PM Modi’s strike on black money, silver prices ended at just Rs.40,735 per kilogram.
November '16 - Week 4 and 5 (21st to 30th)
- Silver traded at Rs.40,890 per kilogram on 21st November.
- Prices seemed to fluctuate this week as the nation faced a massive cash crunch.
- The lowest trading price of Rs.40,190 per kilogram was seen during the 25th.
- Rates of silver increased towards the end of the week as demand picked up.
- Silver traded at Rs.41,055 per kilogram at the time of closing on 30th November.
- Overall, Lucknow witnessed silver prices go down by about -4.32% for the entirety of November.
|1st Day||Rs.45,900 per kilogram|
|Last Day||Rs.43,035 per kilogram|
|Highest Price||Rs.45,900 per kilogram on 1st and 2nd October|
|Lowest Price||Rs.41,685 per kilogram on 7th October|
October 2016 – Week 1 and 2 (1st to 9th)
- At the start of the month, silver traded high at Rs.45,900 per kilogram on the back of high demand.
- Markets turned bearish as the anticipation of a Fed rate hike grew strong.
- High demand was expected in light of the festive season, but silver rates continued to drop through the week.
- Silver traded at Rs.41,800 per kilogram by 8th and 9th October.
- The trend for this week was a decline in silver prices.
October 2016 – Week 3 (10th to 16th)
- Demand for silver picked up as global trends turned positive.
- The rate hike by the U.S. Federal Reserve was uncertain and silver rates jumped to Rs.42,600 per kilogram on 10th October.
- With global and financial risks coming to light in the global markets, investors took to the sidelines and demand declined.
- Reduced offtake by industrialists and coin makers resulted in silver trading at Rs.41,780 per kilogram by the end of the week.
October 2016 – Week 4 (17th to 23rd)
- High anticipation of the Fed rate hike resulted in silver trading low at Rs.41,970 per kilogram on 17th October.
- Silver was able to recover on the back of increased offtake by industrialists and coin makers.
- The wedding season demand gave silver prices a boost.
- Silver traded at Rs.42,130 per kilogram by the end of the week.
October 2016 – Week 5 (24th to 31st)
- Silver prices increased this week as the dollar weakened resulting in trends favouring the metal.
- Silver traded at Rs.42,330 per kilogram at the start of the week.
- There were fluctuations through the week but festive demand drove silver prices up.
- The highest price for this week was Rs.43,035 per kilogram on 31st October.
- Increased industrial offtake gave demand for silver a boost.
|1st Day||Rs.45,225 per kg|
|Last Day||Rs.45,750 per kg|
|Highest Price||Rs.47,820 per kg on 07th September|
|Lowest Price||Rs.45,225 per kg on 01st of September|
September Week 1 – (01st to 04th)
- Silver traded at Rs.45,225 per kilogram on 01st of September.
- Demand never ceased from the local market because of which silver prices increased and traded at Rs.45,610 per kilogram on 02nd of September.
- This week, silver displayed an increasing trend overall.
- Despite the poor performance of silver in the international market and increased on 04th of September.
- Silver closed at Rs.46,760 per kilogram.
September week 2- (05th to 11th)
- Silver prices fell and traded at Rs.46,695 per kilogram on 06th September.
- On 7th of September silver participants increased their silver intake which led to increase in silver prices in Delhi.
- Silver traded at Rs.47,820 per kilogram which is also the highest silver rate recorded for the month.
- During the second half of the week, silver prices fell gradually due to the expected interest rate hike from the Federal Government.
- Silver prices drifted and closed at Rs.46,835 per kilogram on 11th of September.
September week 3 (12th to 18th)
- As dollar stood on firmer ground, silver prices fell and traded at rs.45,715 per kilogram on the 12th of September.
- Throughout the third week of September, silver prices managed to avoid major fluctuations.
- The highest silver price for the week was Rs.45,825 per kilogram recorded on 15th September.
- Silver prices closed at Rs.45,320 per kilogram.
September week 4 (19th to 25th)
- Silver prices increased and traded at Rs.46,110 per kilogram as demand from local market increased.
- Silver rose further and traded at Rs.47,590 per kilogram on 22nd September.
- As the week proceeded, local market suffered due to poor performance of silver overseas.
- Silver prices closed at Rs.47,535 per kilogram.
September week 5 (26th to 30th)
- Silver prices fell and traded at Rs.46,950 per kilogram on 26th September.
- As investors expected interest rate hike in U.S, silver prices fell and traded at Rs.46,505 per kilogram on 27th September.
- Silver further fell and closed at Rs.45,750 per kilogram.
|Highest Price||Rs.49,670 per kilogram on 3rd August|
|Lowest Price||Rs.44,805 per kilogram on 29th August|
August '16 – Weeks 1 (1st to 7th)
- On account of muted demand in the domestic market, silver prices slipped this week.
- Silver started strong at Rs.49,430 per kilogram on 1st August and rose to a high of Rs.49,670 per kilogram on 3rd August.
- By the end of the week, prices had dropped to Rs.47,255 per kilogram as the demand overseas fell due to positive U.S. economic data.
August '16 – Week 2 (8th to 14th)
- Silver prices were quick to rise as there was an increase in the offtake by coin makers and industrialists.
- Silver traded at Rs.47,460 per kilogram on 8th and 9th August.
- Rates touched the highest for the week on 10th August with silver trading at Rs.48,595.
- Prices dipped again at the end of the week with silver trading at Rs.47,750 per kilogram by the end of the week.
August '16 – Week 3 (15th to 21st)
- Prices seemed to be climbing at the start of the week.
- Silver traded at Rs.47,750 per kilogram and rose to Rs.47,940 per kilogram.
- Reduced offtake by industrialists coupled with a strong dollar led to prices dropping again.
- The U.S. Federal Reserve was positive a rate hike would be rolled out soon.
- Silver traded at Rs.46,690 per kilogram on 21st August.
August '16 – Week 4 (22nd to 28th)
- Silver rates continued to slip carrying on the declining trend of last week.
- Silver traded at Rs.45,800 per kilogram on 22nd August.
- Trends in the global market were not favorable as the dollar gained strength.
- Prices of silver continued to fall and traded at Rs.45,040 per kilogram by the end of the week.
- Increased offtake by domestic coin makers, jewellers and industrialists gave silver some stability.
August '16 - Week 5 (29th to 31st)
- Silver traded at its lowest for the month on 29th August at Rs.44,805 per kilogram.
- The drop in prices can be directly attributed to the trends in the global market.
- A rate hike by the U.S. Federal Reserve is most likely in the cards as the U.S. economy has proven to be strong enough now.
- Silver traded at Rs.45,460 per kilogram, closing the month with an overall declining trend.
- Silver rates slumped by 8.03% this month.
|July 1st Rate||Rs.46,490 per 1 kg|
|July 31st Rate||Rs.48,970 per 1 kg|
|Highest Rate in July||Rs.49,745 per 1 kg on 11th of July|
|Lowest Rate in July||Rs.46,490 per 1 kg on July 1st|
July'16 - Week 1 and 2 (1st to 10th)
- Silver opened the month at Rs.46,490 per 1 kg on the 1st of July.
- The price of silver climbed up by Rs.475 at Rs.48,965 per kg on the 4th of July.
- Silver hit a whooping Rs.49,265 per kg on the 7th of July.
- Silver closed at Rs.49,745 per kg on the 10th of July.
July'16 - Week 3 (11th to 17th)
- Silver traded at Rs.49,745 per kg the 11th of July.
- The price steadily climbed up to Rs.49,235 per kg on the 12th of July.
- Silver witnessed a decline as prices dropped down to Rs.48.840 per kg on the 16th of July and remained the same on the 17th.
July '16 - Week 4 (18th to 24th)
- Silver traded at Rs.48,360 per kg on 18th of July.
- Prices came down to to Rs.46,665 per kg on the 21st of July.
- Silver price increased to Rs.47,880 per kg on the 22nd of July.
- The precious metal closed the week at 47,420 per kg on the 24th of July.
July‘16 - Week 5 (25th to 31st)
- Silver opened the week at Rs.47,160 per kg on the 25th of July.
- Silver traded at Rs.47,595 per kg on the 26th of July.
- The price of silver dropped down by Rs.220 on the 27th of July at Rs.47,375 per kg.
- Silver hit Rs.48,785 per kg on the 29th of July.
- Silver closed the month at Rs.48,970 per kg on the 31st of July.
|June 1st Rate||Rs. 38,640 per 1 kg|
|June 30th Rate||Rs. 44,635 per 1 kg|
|Highest Rate in June||Rs. 44,635 per 1 kg for 1 kg for 30th June|
|Lowest Rate in June||Rs. 44,635 per 1 kg on June 1st|
Jun'16 - Week 1 (1st to 4th)
- Silver traded at Rs. 38, 640 per 1 kg on the 1st of June.
- Silver price surged by Rs.225 per kg on the 3nd of June at Rs. 38,865 per kg.
- Silver traded at Rs.39,755 per kg on the 4th of June.
Jun'16 - Week 2 (5th to 11th)
- Silver traded at Rs. 39,755 per kg on the 5th of June as there was no change in the price from the previous week.
- The price of silver came down by Rs.65 from Rs. 39,755 per kg to Rs. 39,690 per kg on the 6th of June.
- Silver witnessed a further decline as prices dropped down to Rs. 39,585 per kg on the 8th of June.
- Prices steadily increased over the week and silver traded at Rs.41,510 per kg on the 11th of June.
Jun'16 - Week 3 (12th to 18th)
- Silver remained unchanged and traded at Rs.41,510 per kg on the 12th of June.
- Silver hit Rs.41,935 per kg on the 14th of June.
- Silver traded at Rs.42,958 per kg on the 16th of June.
- The price declined further over the week and silver hit Rs.42,235 on the 18th of June.
Jun'16 - Week 4 (19th to 25th)
- Silver traded at Rs.42,235 per kg on the 19th of June.
- Due to heavy demand in the global market,the price of silver rose to Rs.42,405 per kg on the 21st of June.
- The price of silver relatively increased over the week and hit Rs.43,465 per kg on the 24th of June.
- The price of silver remained unchanged on the 25th of June at Rs.43,465 per kg.
Jun'16 - Week 5 (26th to 30th)
- Silver traded at Rs.43,465 per kg on the 25th and 26th of June.
- The price further increased to Rs.43,980 per kg on the 29th of June.
- Silver closed the month at Rs.44,635 per kg on the 30th of June.
|1st May rate||Rs. 42,590|
|31st May 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)
- Trading in silver started the month on a high and dipped slightly before stabilising.
- The price of silver was Rs. 42,590 per kg on the 1st of May and Rs. 41,875 per kg on the 8th of May.
- Strong demand from industrial units coupled with a low Dollar kept silver prices stable for the week.
- There was a surge in prices on the 2nd of May but prices fell slightly the following day and stayed stable.
May '16 -Week 3 (9th to 15th)
- Silver continued to maintain a steady rate but began to fall slightly due to lower demand.
- Silver traded at Rs. 41,735 on the 9th of May and at Rs. 41,255 on the 15th of May.
- There was a drop in prices on the 10th of May but silver rallied and prices rose slightly throughout the rest of the week.
- The Dollar strengthened a little towards the end of the week, which contributed to a weakening of demand from international markets.
May '16 - Week 4 (16th to 22nd)
- The price of silver fell gradually this week, as news of a Fed rate hike and emerging data from the US economy pushed the Dollar up.
- Silver was being traded at Rs. 41,255 on the 16th of May and at Rs. 40,135 on the 22nd of May.
- The fall in price was due to muted demand as the Dollar strengthened on the back of strong data from the financial markets.
- The markets began to rally and stock prices rose, leading investors to hedge their bets in portfolios.
- Stronger Asian markets also led to lower demand from those sectors.
May '16 - Weeks 5 and 6 (23rd to 31st)
- The prices of silver fell in the last weeks of May, closing out the month at a low.
- Silver traded at Rs. 40,060 on the 23rd of May and at Rs. 39.065 on the 31st of May.
- Data from the US job market indicated a growing economy, which boosted the Dollar and lowered demand for silver.
- Data from the manufacturing sector also showed positive growth, leading to speculation that the US Fed would raise interest rates by June.
- The price of silver went into free-fall as the markets made gains and currencies strengthened due to the market gains.
|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 were on the decline during the first four days of trading after which they began picking up and remained consistent for the remainder of the ten-day period.
- Prices were recorded at Rs.36,780 on the 1st of the month and Rs.36,620 on the tenth day of the month.
- Prices became stable towards the end of the week owing to firming international and domestic cues.
Apr ‘16 - Week 3 (11th to 17th)
- Silver rates increased steadily during the third week of the month.
- Prices were recorded at Rs.37,115 on the first day of the week and Rs.39,110 by the end of the seven-day period.
- Prices rose by almost Rs.2000 over the third week of trading, marking a significant increase as domestic and global cues strengthened in addition to an increase in industrial demand.
Apr ‘16 - Week 4 (18th to 24th)
- Silver rates fluctuated during the fourth week of April, but increased overall during the course of the week.
- Prices were recorded at Rs.38,920 on the first day of the week and Rs.41,155 on the last.
- Prices increased by over Rs.2200 during the seven-day period, making the penultimate week of trading the month’s best.
Apr ‘16 - Week 5 (25th to 30th)
- Silver rates rose on most days of the week, with marginal losses on certain days which did not have a significant bearing on the trend.
- Prices were recorded at Rs.40,810 on the first day of the week and Rs.42,590 on the last day of the month.
|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 started March negatively.
- Prices were Rs.37,005 on 1st and Rs.36,640 on 6th.
- There was a total loss of Rs.365 in the week.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Prices rose in the 2nd week.
- Rates were Rs.37,695 on 7th and Rs.37,710 on 13th.
- Silver was mostly stable during the week and ended Rs.15 higher.
Mar'16 - Week 3 (14th to 20th)
- Silver rose again in the 3rd week.
- Prices were Rs.37,650 on 14th and Rs.37,865 on 20th.
- Silver appreciated by an overall amount of Rs.215 in this week.
Mar'16 - Week 4 (21st to 27th)
- Silver broke its weekly winning streak in the 4th week.
- Rates were Rs.37,930 on 21st and Rs.36,685 on 27th.
- Prices fell by an overall amount of Rs.1,245 during the week.
Mar'16 - Week 5 (28th to 31st)
- Silver was down again in the last week.
- 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 prices were up in the 1st week of February.
- Rates were Rs.34,970 on 1st and Rs.36,925 on 7th.
- Silver appreciated by an overall amount of Rs.1,955 through the week.
Week 2 (8th to 14th)
- Silver rates were up again in the 2nd week.
- Rates were Rs.36,950 on 8th and Rs.38,525 on 14th.
- Silver started weakly, dropping till 11th before rising on 12th and then settling at a slightly lower amount on 13th and 14th.
Week 3 (15th to 21th)
- Silver rates appreciated in the 3rd week.
- Prices were Rs.37,220 on 15th and Rs.37,930 on 21st.
- Silver managed to rise by Rs.710 over the course of the week as trading was mostly positive.
Week 4 (22nd to 29th)
- Silver trading went into the negative in the final days of the month.
- Prices were Rs.37,615 on 22nd and Rs.36,295 on 29th.
- Silver fell by Rs.320 over the week, with no positive sessions registered through 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 were up in the 1st week of January.
Rates were Rs.33,230 on 4th and Rs.33,865 on 10th.
Silver rose in the first 4 days to Rs.34,220 by 8th before dropping to Rs.33,865 to end the week.
Jan '16 - Week 2 (11 th to 17 th )
Silver rates appreciated again in the 2nd week.
Prices were Rs.33,750 on 11th and Rs.34,335 on 17th.
It depreciated to Rs.33,295 by 13th before appreciating to Rs.34,220 on 14th.
Silver rose marginally to Rs.34,335 on 15th where it stayed for the rest of the week.
Jan '16 - Week 3 (18 th to 24 th )
Silver prices appreciated in the 3rd week.
Prices were Rs.34,115 on 18th and Rs.34,425 on 24th.
Silver was volatile over the week, touching a high of Rs.34,800 on 21st and a low of Rs.34,070 on 19th.
Jan '16 - Week 4 (25 th to 31 st )
Silver gained more value in the final week of January, to wrap up the month on a positive note.
Prices were Rs.34,435 on 25th and Rs.34,930 on 31st.
Silver rose in the first 4 days to touch Rs.35,565 on 28th before sliding a little and settling at Rs.34,930 by 31st.
|Highest rate in December||Rs.35,050 on 5th and 6th|
|Lowest rate in December||Rs.33,050 on 18th|
- Silver gained value in the 1st week of December.
- Prices were Rs.34,040 on 1st and Rs.35,015 on 7th.
- Silver rose slightly on 2nd but dropped below Rs.34,000 mark on 3rd when it was priced at Rs.33,660.
- There were substantial rise in rates on 4th and 5th by an overall margin of Rs.1,390 that brought rates up to Rs.35,050.
- Silver was slightly down on 7th the end the week at Rs.35,015.
- Silver rates fell in the 2nd week.
- Prices were Rs.34,415 on 8th and Rs.33,670 on 14th.
- Silver lost value to Rs.34,190 on 9th and couldn’t reach the same level again in the week as prices hovered around Rs.34,000.
- Prices fell by Rs.340 on 14th to settle at Rs.33,670.
- Silver gained value in the 3rd week.
- Prices were Rs.33,230 on 15th and Rs.33,900 on 21st.
- Silver was stable between 33,000 and 34,000 in this week, with substantial changes in rates experienced on 18th and 19th when prices dropped by Rs.810 and rose by Rs.735 respectively.
- Silver lost value in the last days of December.
- Prices were Rs.34,020 on 22nd and Rs.33,405 on 31st.
- Silver had a stable 4th week as prices stayed in the range of RS.34,020 to Rs.34,275.
- Prices dropped by Rs.785 on 29th before stabilizing at Rs.33,405 for the month on 31st.
|1st November rate||Rs.37,300|
|30th November rate||Rs.33,940|
|Highest rate in November||Rs.37,300 on 1st, 2nd and 3rd|
|Lowest rate in November||Rs.33,940 on 30th|
- Silver lost value in the 1st week of November.
- Prices were Rs.37,300 on 1st and Rs.35,800 on 7th.
- There was no positive session for silver as prices depreciated on 4th, 5th and 7th to settle at Rs.35,800 for the week.
- Silver rates fell again in the 2nd week.
- Prices were Rs.35,800 on 8th and Rs.34,665 on 14th.
- Silver appreciated to Rs.36,100 on 9th but dropped consecutively till 12th to rest at Rs.34,665, at which rate it ended the week.
- Silver Rates declined by Rs.565 in the 3rd week.
- Prices were Rs.34,665 on 15th and Rs.34,100 on 21st.
- Silver was stable at Rs.34,665 till 17th and dropped to Rs.34,100 on 18th where it stayed for the rest of the week.
- Silver was mostly stable in the last days of November.
- It was priced at Rs.34,025 on 22nd and Rs.33,940 on 30th.
- There were gains in rates on 26th and 27th which brought up prices to Rs.34,310.
- Silver dropped back to Rs.34,090 on 28th where it stayed till 29th and dropped again on 30th to end the month at Rs.33,940.
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|