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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 August 2016 (rates per kg)
|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|