Silver Rate in Ludhiana

Daily Silver Rates
Date Silver (1 gram) Bar Silver (1 Kg)
21 Feb 2019 ₹ 43.9 ₹ 43,900
20 Feb 2019 ₹ 44 ₹ 44,000
19 Feb 2019 ₹ 43.5 ₹ 43,500
18 Feb 2019 ₹ 43.6 ₹ 43,600
17 Feb 2019 ₹ 43.4 ₹ 43,400
16 Feb 2019 ₹ 43.4 ₹ 43,400
15 Feb 2019 ₹ 42.8 ₹ 42,800
14 Feb 2019 ₹ 42.7 ₹ 42,700
13 Feb 2019 ₹ 42.8 ₹ 42,800
12 Feb 2019 ₹ 43.1 ₹ 43,100

*Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

Silver Price in Ludhiana

Silver, also known as white precious metal is in demand in Ludhiana and sold in many forms to cater to various uses. For many consumers in Ludhiana, silver is a safe haven of investment given that it is believed to be safe during any banking crisis and currency devaluations. Many customers turn to silver to protect their purchasing power during periods of overall high inflation. Silver is widely sold in Ludhiana in the form of intricate and trendy silverware, articles related to traditional rituals, weddings and other festive occasions.

There are several silver jewellery exhibitions held in Ludhiana which offer a wide variety of designs in addition to custom-made items. Silver or ‘poor man’s gold’ is also sought-after by many small investors in Ludhiana given that the white metal is comparatively more affordable than the yellow metal.

Trend of Silver Rate in Ludhiana for December 2018 (rates per gram)

Parameters Silver Price (per kg)
December 1 Rate Rs.38,500 per kg
December 31 Rate Rs.41,500 per kg
Highest Rate in December Rs.41,500 per gram on 31 December
Lowest Rate in December Rs.38,500 per gram on 1 December
Overall Monthly Performance Incline
Percentage Change 7.79%

Silver rate trend in Ludhiana in December 2018:

  • Silver trade opened the month of December at Rs.38,500 per kg which marked the lowest price of the metal in the month.
  • As the dollar declined in global markets, the rupee’s value increased which led to the rise in demand of silver in the Indian and global markets.
  • The increase in the value of the rupee also helped the import business in the country. As the wedding season began in the second half of December, the local demand of the bullion increased considerably.
  • By the middle of the month, the price of silver had increased to Rs.41,900 per kg, closing at Rs.41,500 per kg resulting in a percentage incline of 7.79.

Trend of Silver Rate in Ludhiana for November 2018 (rates per kg)

Parameters Silver price (per kg)
November 1 Rate Rs.40,900 per kg
November 30 Rate Rs.38,800 per kg
Highest Rate in November Rs.41,500 per kg from 2-4 and 6 November
Lowest Rate in November Rs.38,800 per kg on 30 November
Overall Monthly Performance Decline
Percentage Change -5.13%

Trend of Silver Rate in Ludhiana for November 2018:

  • The month saw silver trade in Ludhiana impacted by poor market trends overseas resulting in reduced domestic demand from local industrial units and coin makers.
  • Trading began for the month of November with silver prices holding at Rs.40,900 per kg on the 1st with steady local demand amid firm overseas trends. Rates surged to a monthly high Rs.41,500 per kg on the 2nd with strong demand from domestic jewellers and retailers ahead of the local festive season.
  • However, with the US dollar index gaining against a basket of other apex currencies amid the well-performing equities market, demand for the bullion dropped and silver was recorded trading at Rs.39,700 per kg on the 15th.
  • Trading closed for the month with silver rate in Ludhiana finishing at Rs.38,800 per kg – the lowest recorded monthly figure - on the 31st. Weak global cues coupled with reduced local demand led to prices dropping by 5.13% during the course of the month.

Trend of Silver Rate in Ludhiana for October 2018 (rates per gram)

Parameters Silver price (per kg)
October 1 Rate Rs.41,100 per kg
October 31 Rate Rs.41,200 per kg
Highest Rate in October Rs.42,000 per kg on 3 October
Lowest Rate in October Rs.41,100 per kg on 1 and 2 October
Overall Monthly Performance Incline
Percentage Change 0.24%

October 2018 - Week 1 (1 - 7):

  • When trading began for the month, the white metal prices were recorded holding at Rs.41,100 per kg on the 1st with steady local demand for the metal.
  • With the US dollar dropping against apex currencies ahead of the US Federal Reserve meeting, silver rate in Ludhiana surged to Rs.42,000 per kg on the 2nd.
  • The week came to an end with silver priced at Rs.41,900 per kg on the 7th, registering a incline of Rs.800 per kg in the last five days.

October 2018 - Week 2 (8 - 14):

  • Trading opened for the second week with silver priced at Rs.41,500 per kg on the 8th with subdued but steady demand from industries and coin manufacturers amid the strengthening US dollar and equities.
  • Strong dollar performances coupled with poor demand led to silver price in Ludhiana dropping further to Rs.41,200 per kg on the 9th.
  • However, an increase in demand from industries towards the end of the week led to silver closing at Rs.41,500 per kg on the 14th.

October 2018 - Week 3 (15 - 21):

  • Silver in Ludhiana was recorded trading at Rs.41,900 per kg on the 15th when the week began with domestic markets recovering from the previous week’s losses.
  • Prices dropped to Rs.41,400 per kg on the 17th before surging to Rs.41,900 per kg the next couple of days on account of the tumbling equity markets and losing US dollar index.
  • Silver was priced at Rs.41,500 per kg on the 20th before dropping slightly to Rs.41,400 per kg on the 21st with demand capped by the recovering US dollar and well-performing stock markets.

October 2018 - Week 4 (22 - 28):

  • The week commenced with silver in Ludhiana priced at Rs.41,500 per kg on the 22nd with domestic markets picking up pace amid the losing dollar value.
  • The highly volatile markets coupled with the fluctuating rupee-dollar dynamic led to silver rates surging to Rs.41,900 per kg on the 24th.
  • The week came to an end with the white metal priced at Rs.41,700 per kg on the 18th with subdued but steady demand from local industrial units and coin makers.

October 2018 - Week 5 (29 - 31):

  • Trading commenced for the last week with silver priced at Rs.41,600 per kg on the 29th with local demand suppressed by the strong US dollar and equity markets.
  • Subdued demand coupled with unfavourable market cues led to prices dropping further during the week and silver was recorded trading at Rs.41,200 per kg on the 30th.
  • The month came to an end with the white metal priced at Rs.41,200 per kg on the 31st, registering an incline of 0.24% in silver prices in Ludhiana during the course of the month.

Trend of Silver Rate in Ludhiana for September 2018 (rates per gram)

Parameters Silver price (per kg)
September 1 Rate Rs.40,000 per kg
September 30 Rate Rs.41,200 per kg
Highest Rate in September Rs.41,200 per kg on 29 and 30 September
Lowest Rate in September Rs.39,500 per kg on 5, 7, 15-16 September
Overall Monthly Performance Incline
Percentage Change 3%

September 2018- Week 1 (1-8)

  • The price of silver stood at Rs.40,000 per kg when the trading for the metal commenced for the month of September in Ludhiana.
  • Silver prices inclined by Rs.100 per kg and traded at Rs.40,100 per kg on 2nd of the month before dipping to Rs.39,500 per kg on 5th September.
  • However, on the last day of the week, silver prices managed to recover and closed at Rs.39,700 per kg as investors refrained from the stock market and turned towards safe-haven assets as a result of the ongoing trade war tension.

September 2018- Week 2 (9-15)

  • On 9th September, silver continued to trade at Rs.39,700 per kg amid steady domestic and international demand.
  • From 11 to 13 September, silver rates inclined and traded at Rs.39,700 per kg as the value of the US dollar fell after the US inflation data was released.
  • Silver rates fell towards the end of the week and traded at Rs.39,800 per kg on 14 September due to poor demand and fluctuating dollar fortunes caused the price of the metal to further fall and close at 39,500 per kg.

September 2018- Week 3 (16-22)

  • Silver continued to trade at Rs.39,500 per kg on 16 September but inclined throughout the week as the ongoing trade war tension weakened the value of the US dollar.
  • On 17 September, the price of the metal in Ludhiana inclined to Rs.39,700 per kg. Silver rates further inclined to Rs.39,800 per kg and Rs.40,000 per kg on 18 and 19 September respectively.
  • Before closing at Rs.40,100 per kg on 22 September, silver rates inclined on 18 and 19 and traded at Rs.39,800 per kg and Rs.40,000 per kg.

September 2018- Week 4 (23-30)

  • Silver was priced at Rs.40,300 per kg on 23 September in Ludhiana amid poor demand from both domestic and overseas market.
  • As the demand for the metal did not pick up, the price of the metal fell to Rs.40,000 per kg on 24 but silver rates quickly inclined to Rs.40,200 per kg on 25 and further inclined to Rs.40,800 per kg on 26 September.
  • On 29 and 30 September,the price of the metal further inclined and hit a monthly high of Rs.41,200 per kg and recorded an overall incline of 3% for the month.

Trend of Silver Rate in Ludhiana for August 2018 (rates per gram)

Parameters Silver price (per kg)
August 1 Rate Rs.41,400 per kg
August 31 Rate Rs.40,300 per kg
Highest Rate in August Rs.41,400 per kg on 1 and 9 August
Lowest Rate in August Rs.39,800 per kg on 24 August
Overall Monthly Performance Decline
Percentage Change -2.65%

August 2018 - Week 1 (1 - 05):

  • The month of August began with silver trading Rs.41,400 per kg, the highest price Ludhiana saw for the month.
  • On the second day of the month, demand amongst local industries and jewellers declined which caused the price of the metal to drop as well. The metal was trading at Rs.41,100 per kg, a Rs.300 decline from the start of the month.
  • Silver then dropped by Rs.100 per kg on 4 August, in spite of the high domestic demand for the metal from industries and jewellers. Silver dipped to Rs.41,300 per kg.
  • Week 1 ended with the white metal being priced at Rs.41,300 per kg. The prices remained unaffected by the increased demand for the metal from the previous day.

August 2018 - Week 2 (6 - 12):

  • Ludhiana did not experience a change in silver price at the start of week 2. The metal still stood at Rs.41,300 per kg.
  • The US dollar increased in value in comparison to other currencies after the employment data was released and their economy showed positive trends. This caused silver prices to decline to Rs.41,200 per kg.
  • However, on 9 August, the metal plummeted to Rs.41,400 per kg as the dollar in correspondence to other currencies rose in value. This was also the highest recorded silver rate in Ludhiana recorded for the second time in this month. The value of the metal could incline and hit the highest rate due to high demand and declining value of the US dollar.
  • This upswing in price did not last long as the metal dipped in value after domestic demand in the Ludhiana fell. On 10 August, the metal was trading at Rs.41,100 per kg. Throughout the entire month, the price of silver was determined by the varying demand that the place experienced.
  • Silver declined to Rs.41,200 per kg as week 2 ended.

August 2018 - Week 3 (13 - 19):

  • Silver still traded at Rs.41,200 at the start of week 3.
  • Silver then witnessed a drop in its value after the demand for the metal in Ludhiana declined. The price of the metal as on 14 August was recorded at Rs.40,900 per kg.
  • After the US released their employment data during week 3, which had a positive effect on their economy and the dollar value but had a negative impact on the price of silver.
  • The dollar rose in value as the US economy witnessed a positive trend causing silver to decline in value. On 16 August, the metal stood at Rs.39,900 per kg.
  • During the end of week 3, silver price in the Ludhiana increased by Rs.100 per kg, and during 17 - 19 August, it was trading at Rs.40,000 per kg.

August 2018 - Week 4 (20 - 26):

  • Silver price in Ludhiana stood remained unaffected and continued trading at Rs.40,000 per kg on 20 August.
  • Silver then experienced a rise in value on 22 August as it was recorded at Rs.40,100 per kg. A Rs.100 increase in silver rates was noted at the beginning of week 4.
  • The dollar, in comparison to other currencies, increased in value on 23 August as silver dipped in value. Ludhiana experienced a decline in the price of silver as it stood at Rs.39,900.
  • Week 4 ended with silver being priced at Rs.40,200 per kg.

August 2018 - Week 5 (27 - 31):

  • No changes in silver prices were noted on 27 August. The metal continued to trade at Rs.40,200 per kg.
  • During the last week of the month, the demand for the metal picked up which caused silver rates in Ludhiana to incline.
  • Though the price of the metal increased during week 5, overall, for the month of August the price of the metal recorded a declining trend of -2.65% in Ludhiana.
  • At the end of the month, the metal traded at Rs.40,300 per kg.

Trend of Silver Rate in Ludhiana for July 2018 (rates per kg)

Parameters Silver price (per kg)
July 1 Rate Rs.42,800 per kg
July 31 Rate Rs.41,400 per kg
Highest Rate in July Rs.42,900 per kg from 9 - 10 July
Lowest Rate in July Rs.41,200 per kg from 28 - 29 July
Overall Monthly Performance Decrease
Percentage Change -3.27%

July 2018- Week 1 (1-10)

  • Silver was traded at Rs.42,800 per kg on 01 July 2018.
  • On 3 July, the demand for the metal from industrial units moderately fell and the dip in the demand led to the fall in silver prices. The price of the metal fell by Rs.400 per kg on this day and traded at Rs.42,400 per kg. However, the value of the dollar with regard to other currencies was also recorded to be on the decline during this time.
  • Though silver rates remained stable for the next few days, a slight hike was noted on 6 July when the metal traded at  Rs.42,800 per kg. This was mainly because industrial units and local coin makers increased their silver intake.
  • On 9 and 10 July, silver was sold at  Rs.42,900 per kg. This was the highest silver rate recorded for the month of July in Ludhiana.
  • Positive market trends clubbed with the variation in the value of the dollar with respect to other currencies can be linked to the rise in silver values.

July 2018- Week 2 (11-17)

  • Silver was traded at Rs.42,600 per kg on 11 July. A drop of Rs.300 per kg was noted on the first day of week 2. The dip can be attributed to sluggish demand from industrial units.
  • The price of silver from 12 - 14 July stood at roughly Rs.42,200 per kg. As the demand for the metal continued to fall, the prices dipped further.
  • The silver rate in Ludhiana on 16 July stood at Rs.42,300 per kg. A slight increase of Rs.100 per kg was noted on this day. The demand for the metal was stabilising.
  • Due to the decline in dollar value over other currencies, the price of silver in Ludhiana increased towards the end of the week and stood at Rs.42,100 per kg on 17 July.

July 2018- Week 3 (18 - 24)

  • Silver prices in Ludhiana increased by Rs.600 per kg on 18 July 2018. On this day, the metal traded at Rs.41,700 per kg.
  • However, the value of the dollar in comparison with other currencies then rose on 20 July causing the silver price in Ludhiana to drop. The metal fell by Rs.400 per kg and was valued at Rs.41,300 per kg on this day.
  • As demand for the metal increased in the following few days and silver prices bounced back to  Rs.41,700 per kg on 21 and 22 July.
  • The price of the metal declined towards the end of the week in Ludhiana as it stood at Rs.41,400 per kg on 24 July.

July 2018- Week 4 (25 - 31)

  • Steady industrial demand for the metal caused the price of silver to rise to Rs.41,500 per kg on 25 July.
  • Due to the decline of dollar value, silver prices spiked on 26 July to Rs.41,800 per kg. However, demand for the metal dropped which naturally caused the decline in silver prices over the next few days.
  • As on 28 - 29 July, the price of silver stood at Rs.41,200 per kg. This is the lowest silver rate recorded for the month of July in Ludhiana.
  • By the end of the month, the price of silver increased as dollar rates dropped slightly. The metal stood at Rs.41,400 on 30 - 31 July.
  • Overall, the prices of silver fell by 3.27% in the month of July in Ludhiana.

Trend of Silver Rate in Ludhiana for June 2018 (rates per kg)

Parameters Silver price (per kg)
June 1 Rate Rs.42,800 per kg
June 30 Rate Rs.42,800 per kg
Highest Rate in June Rs.45,000 per kg on 15 June
Lowest Rate in June Rs.42,600 per kg from 2- 5 June
Overall Monthly Performance Stable
Percentage Change 0.00%

June 2018- Week 1 (1-10)

  • Silver price in Ludhiana today looked volatile, with the metal opening the week at Rs.42,800 per kg on stable demand from industrial units.
  • The rally by the dollar prior to the historic summit between the United States and North Korea led to declining interest in bullion, as silver prices fell to Rs.42,600 per kg on 2 June.
  • Local industrial offtake was also poor and subject to the vagaries of the dollar rate, as the rupee fell heavily against the dollar for most of the week.
  • Prices did not change for the remainder of the week, as investor sentiment moved towards bullion and silver traded at Rs.43,700 per kg on 10 June.

June 2018- Week 2 (11-17)

  • In spite of the dollar resurgence, positive trends for bullion continued as silver opened the second week priced at Rs.43,900 per kg on 11 June.
  • Stable orders from industrial units kept prices stable, as both local as well as overseas industrial units increased order volumes.
  • Silver price in Ludhiana rose to Rs.44,000 per kg on 12 June as the dollar fell on fears of a trade war; a revival in bullion led to silver trading at Rs.45,000 per kg on 15 June on sharp dips in the dollar rate.
  • Prices stabilised towards the end of the week, with silver trading at Rs.44,300 per kg on 17 June.

June 2018- Week 3 (18-24)

  • Silver was priced at Rs.43,400 per kg on 18 June due to fluctuations in demand after the steep drop in the dollar rate last week.
  • Demand for bullion was on the decline due to a recovery by equity markets amidst positive investor sentiment, as industrial offtake fell throughout the week.
  • Prices dropped to Rs.42,900 per kg on 21 June due to short-selling by investors ahead of the Fed Reserve meeting and policy announcement.
  • The fall in demand for silver from industrial units led to stagnating sales locally, but prices were static overseas due to steady demand from European and Asian industrial orders.
  • Prices fluctuated as the week ended, but silver price in Ludhiana were unaffected by these changes.

June 2018- Week 4 (25-30)

  • Silver rate in Ludhiana dropped steadily in the last week of June as poor demand from industrial units as well as lowered offtake from coin makers affected the industrial metal’s prices.
  • The last week began with silver priced at Rs.43,200 per kg on 25 June, as local coin makers reducing offtake due to the rising dollar rate making imports of silver more expensive.
  • Stable local equity markets and negative overseas trends led to silver price in Ludhiana falling to Rs.43,100 per kg on 26 June.
  • The upcoming Federal Reserve meeting and a possible interest rate hike led to increased pressure on bullion, as silver prices tumbled to Rs.42,800 per kg on 29 June.
  • There was no change in price as the month ended, with silver remaining unchanged from the month’s opening price.

Trend of Silver Rate in Ludhiana for May 2018 (rates per kg of silver)

Parameters Silver price (per kg)
May 1 Rate Rs.42,000 per kg
May 31 Rate Rs.43,100 per kg
Highest Rate in May Rs.43,800 per kg on 25 May
Lowest Rate in May Rs.42,000 per kg on 1 May
Overall Monthly Performance Incline
Percentage Change 2.61%

May 2018- Week 1 (1st - 6th)

  • Silver opened the month at Rs.42,000 per kg in Ludhiana as demand for silver was stable as a result of steady orders from industrial units.
  • Political uncertainty such as the ingoing trade tensions between the U.S., and China as well as the U.S.-North Korea summit led to equity markets performing poorly, which led to higher demand for safe-haven assets like bullion.
  • Silver price in Ludhiana rose to Rs.42,600 per kg on 3 May before declining orders led to a marginal drop in prices.
  • A rise in the dollar rate as well as stable economic markets locally led to silver prices falling to Rs.41,100 per kg on 6 May.

May 2018- Week 2 (7th - 13th)

  • The second week saw demand for silver rise marginally due to wildly fluctuating equity markets and currency markets.
  • The week began with silver trading at Rs.43,200 per kg on 7 May due to steady demand from industrial as well as retail sectors.
  • Tensions between the U.S. and North Korea dominated equity market predictions and led to profit-booking by some investors.
  • Demand rose in spite of a steady dollar ahead for talks between the United States and North Korea, which also had Asian stocks trading high.
  • Silver price in Ludhiana continued to rise for the rest of the week as currencies also plunged.
  • Local demand was steady but demand vagaries led to the industrial metal trading at Rs.43,600 per kg on 13 May.

May 2018- Week 3 (14th - 20th)

  • Prices rose to Rs.43,600 per kg as the third week began as investors reacted to news that the upcoming summit between the U.S. and North Korea was cancelled,
  • Overseas demand for the industrial metal was quite high as markets were low and the dollar rate was poor, resulting in increased demand for bullion.
  • Silver fell to to Rs.43,000 per kg on 16 May as markets rose on news the summit was set to go ahead again.
  • Silver price in Ludhiana were high for most of the week as international cues bolstered local demand and kept prices steady.
  • A slight dip in price was recorded towards the end of the week as the dollar rate began to recover and equity markets also made some gains.
  • Silver ended the week priced at Rs.43,100 per kg on 20 May.

May 2018- Week 4 (21st - 27th)

  • Demand for silver was steady but there was a drop in the industrial metal’s value over the fourth week of May.
  • The outcome of the Fed Reserve meeting and U.S. industrial data due to be released led to investors being more bullish as interest in bullion fell.
  • Silver opened the week at Rs.43,100 per kg on 20 May after an early rally but prices dropped on poor demand for the rest of the week.
  • Equity markets and the dollar rose, leading to lower imports of silver in spite of a deadlock on trade between the U.S. and China.
  • Silver price in Ludhiana rose to Rs.43,500 per kg on 23 May before continuing to rise on positive demand cues

May 2018- Week 5 (28th - 31st)

  • The last week of May saw demand for the industrial metal on the decline due to lower investor interest in bullion ahead of the much anticipated North Korea- U.S. summit.
  • Silver opened the week at Rs.43,000 per kg on 28 May before prices dropped to Rs.42,900 per kg on 30 May.
  • Poor local demand also contributed to the drop in silver price in Ludhiana, though silver recovered marginally to end the month at Rs.43,100 per kg.

Trend of Silver Rate in Ludhiana for April 2018 (rates per kg)

Parameters Silver price (per kg)
April 1 Rate Rs.41,400 per kg
April 30 Rate Rs.42,300 per kg
Highest Rate in April Rs.43,800 per kg on 20 and 22 April
Lowest Rate in April Rs.41,000 per kg on 5 April
Overall Monthly Performance Incline
Percentage Change 2.17%

April 2018- Week 1 (1st - 7th)

  • Demand for silver in Ludhiana was unsteady in the first week of April, trading at Rs.41,400 per kg as the month began.
  • Prices rose to Rs.41,600 per kg on 3 April before a mid-week rally by the dollar led to a drop in demand for the industrial metal.
  • Silver price in Ludhiana dropped to Rs.41,000 per kg on 5 April as both dollar and equity markets recovered from earlier losses, while local industrial demand was on the decline.
  • The week ended with silver prices rising marginally to trade at Rs.41,200 per kg on 7 April.

April 2018- Week 2 (8th - 15th)

  • There was a steady rise in the price of silver in the second week as political crises led to markets falling sharply.
  • Silver was priced at Rs.41,200 per kg on 8 April but prices rose on strong demand from Asian industrial units due to favourable market conditions as well as a low dollar rate.
  • Renewed tensions between the U.S. and China regarding trade tariffs resulted in major global markets sliding on fears of a trade war.
  • Silver price in Ludhiana climbed to Rs.42,000 per kg on 12 April as local demand was also high due to favourable cues.
  • There was a slight drop in the value of silver towards the end of the week as the metal traded at Rs.41,900 per kg on 15 April.

April 2018- Week 3 (16th - 22nd)

  • Trade tensions between the U.S. and China as well as instability in Syria led to equity markets and currencies trading low, which led to higher demand for bullion.
  • Investors increased interest in precious metals, pushing silver prices to Rs.42,100 per kg as the week began on 16 April.
  • Counter strikes against Syria by a U.S.-led coalition led to renewed fears of instability as markets fell and commodity prices skyrocketed.
  • Silver rose to Rs.43,800 per kg on 20 April, the highest rate for the month on the back of steady local and overseas demand for the metal.
  • There was no change in price as the week ended, with silver priced at Rs.43,800 per kg on 22 April.

April 2018- Week 4 (23rd - 30th)

  • The last week of April saw a steady drop in the silver rates in Ludhiana as the dollar recovered from its earlier losses and markets also stabilised.
  • The week saw silver priced at Rs.43,700 per kg on 23 April as overseas demand was stable.
  • A minor drop in price was observed with silver price in Ludhiana falling to Rs.43,000 per kg on 26 April due to sluggish local demand.
  • Impending trade talks between China and the U.S. bolstered equity markets as the dollar also improved against other global currencies.
  • Prices fell to Rs.42,800 per kg on 27 April before dropping further to Rs.42,300 per kg on 30 April.
  • In spite of a dip in price towards the end of the month, silver rose by 2.17% in value over the course of the month.

Trend of Silver Rate in Ludhiana for March 2018 (rates per kg)

Parameters

Silver price (per kg)

March 1 Rate

Rs.41,100 per kg

March 31 Rate

Rs.41,400 per kg

Highest Rate in March

Rs.41,900 per kg on 7 March

Lowest Rate in March

Rs.41,000 per kg on 19 and 21 March

Overall Monthly Performance

Incline

Percentage Change

0.72%

March 2018 - Week 1 (1st - 4th):

  • In Ludhiana, when trading for the month of March began, silver was priced at Rs.41,100 per kg as demand from industries were on the high.
  • The 2nd recorded a Rs.300 price rise and the white metal traded at Rs.41,400 per kg due to this. The main reason for this was the poor US dollar and a considerable rise in local demand.
  • On the 3rd, silver rate in Ludhiana went up to Rs.41,600 per kg as there was steady demand for the metal.
  • The week ended with silver trading at Rs.41,600 per kg.

March 2018 - Week 2 (5th -11th):

  • The second week of March began with silver opening at Rs.41,700 per kg as demand seemed to incline slightly.
  • This, however, dropped to RS.41,400 per kg - a Rs.300 drop - from the previous day due to declining cues amid a rising dollar.
  • On the 7th, silver rates surged considerably to Rs.41,900 per kg - the month’s highest rates - as local demand improved significantly while the US dollar was on a weak footing.
  • Due to a decline in demand and the rise of the dollar, silver rate in Ludhiana dropped over the next few days. The 8th and the 9th saw silver rate at Rs.41,500 per kg and Rs.41,300 per kg respectively.
  • There was a slight improvement in demand which caused silver rates to rise to Rs.41,600 per kg on the final day of the week.

March 2018 - Week 3 (12th - 18th):

  • This week opened with silver being priced at Rs.41,600 per kg, which dropped to Rs.41,400 per kg the next day.
  • The 14th saw silver rates went up to Rs.41,700 per kg as demand was on the rise after the latest happenings in the US market caused demand to rise.
  • Over the 15th and the 16th, silver rates dropped to Rs.41,500 per kg and then to Rs.41,300 per kg as demand slumped after markets recovered.
  • Due to very little change in the demand dynamic, silver rates went down to Rs.41,100 per kg on the final day of the week.

March 2018 - Week 4 (19th - 25th):

  • Fourth week opened with a Rs.100 decline in prices and the metal traded at Rs.41,000 per kg on the 19th.
  • On the 20th, silver rates went up to Rs.41,200 per kg before falling slightly to Rs.41,100 per kg on the 21st of March.
  • The 23rd saw the white metal trade at Rs.41,500 per kg as the shaky US dollar helped push demand in the local market up.
  • When the week ended, the metal’s rates were holding at Rs.41,600 per kg.

March 2018 - Week 5 (26th - 31st):

  • The last week of March started with the white metal opening at Rs.41,600 per kg which increased to Rs.41,800 per kg on the next day.
  • Due to a decline in demand, silver rates went down to Rs.41,500 per kg on the 28th before falling over the remaining days of the month.
  • On the final day of the month, the precious metal was priced at Rs.41,400 per kg. March’s trading recorded a 0.72% change in prices, thanks to favourable cues.

Trend of Silver Rate in Ludhiana 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
Percentage Change -3.28%

February 2018 - Week 1 (1st - 4th):

  • In Ludhiana, the month began with the industrial metal priced at Rs.42,600 per kg on the 1st of February. This was also the highest recorded monthly price in the city.
  • With markets cautious ahead of the US jobs data, the US dollar index and equities tumbled in the international trade. This led to silver rates remaining untouched at Rs.42,600 per kg on the 2nd.
  • However, the highly anticipated US jobs and payrolls’ data proved to be stronger than expected after indicating a significant rise in the number of jobs contributed to the US economy. This led to the US dollar gaining against a basket of currencies and silver was recorded trading at Rs.41,700 per kg on the 3rd amid the weak global cues.
  • When trading concluded for the week, the white metal prices were recorded holding at Rs.41,700 per kg on the 4th with steady demand from industrial units and coin manufacturers.

February 2018 - Week 2 (5th - 11th):

  • Trading opened for the second week with silver priced relatively lower at Rs.41,500 per kg on the 5th amid a strong US dollar index and rising equity markets.
  • Thanks to an increase in offtake by industries and coin makers, silver rates rose to Rs.41,900 per kg on the 6th of February.
  • However, demand plunged with the US dollar dominating over other emerging currencies and silver prices plunged to Rs.41,500 per kg on the 7th which dropped further to Rs.40,800 per kg on the 8th amid the poor trends overseas.
  • Prices rebounded to Rs.41,000 per kg on the 9th before plummeting to Rs.40,600 per kg on the 10th after demand for the metal declined amid the strengthening dollar and equities. This was also the lowest recorded monthly price in Ludhiana.
  • Poor domestic demand coupled with weak global cues led to silver rates remaining unchanged at Rs.40,600 per kg for the remainder of the week.

February 2018 - Week 3 (12th - 18th):

  • The week witnessed silver prices surging significantly with international markets remaining cautious ahead of the US inflation data during the week.
  • The week opened with silver rates holding at Rs.40,900 per kg on the 12th after domestic markets ramped up purchases after tracking a positive trend overseas.
  • With the US inflation data around the corner, investors and traders refrained from making purchases and eyed on the report for clues on the pace of the Fed rate hikes during the year. This led to a downtrend in the US dollar and silver was priced at Rs.41,300 per kg on the 13th.
  • Strong domestic demand compounded by positive overseas trends led to prices rising to Rs.41,400 per kg on the 14th which surged further to Rs.41,800 per kg on the 15th.
  • However, with the US dollar regaining lost ground following the release of the inflation data, silver prices in Ludhiana dropped slightly to Rs.41,700 per kg on the 16th.
  • Demand for silver surged over the next couple of days with investors and stockists leaning on safe-haven assets in order to hedge against inflation concerns. This led to silver being priced at Rs.41,700 per kg for the rest of the week.

February 2018 - Week 4 (19th - 25th):

  • The week began with silver rates in Ludhiana holding at Rs.41,600 per kg on the 19th after the rising US dollar led to a decline in demand for the metal.
  • On the 21st, silver rates plunged to Rs.41,200 per kg following poor demand from industrial units and coin makers.
  • However, with the US dollar losing against a basket of other currencies amid concerns over a possible US government shutdown, silver prices rose to Rs.41,400 per kg on the 22nd before surging further to Rs.41,600 per kg on the 23rd amid firm overseas trends.
  • Prices dropped to Rs.41,500 per kg the next day as demand subsided amid the strengthening US dollar and equities.
  • Thanks to steady industrial offtake for the metal, the white metal prices remained untouched at Rs.41,500 per kg until the end of the week.

February 2018 - Week 5 (26th - 28th):

  • Firm trends overseas coupled with strong domestic demand led to silver trade opening at Rs.41,600 per kg on the 26th.
  • With the US greenback losing against a basket of other apex currencies ahead of the Federal Reserve chairman Jerome Powell’s first congressional testimony, silver rates surged to Rs.41,700 per kg on the 27th.
  • The month concluded with the industrial metal trading on a weaker note as the US dollar surged after Jerome Powell promised the nation to save the economy from overheating while sticking to the planned interest rate hikes. Silver was recorded trading at Rs.41,200 per kg on the 28th.
  • Ludhiana registered a decline of 3.28% in silver trade during the course of the month.

Trend of Silver Rate in Ludhiana 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
Percentage Change 8.41%

January 2018 - Week 1 (1st - 7th):

  • When trading began in Ludhiana, silver was recorded trading at Rs.38,925 per kg on the 1st This was also the lowest recorded monthly figure in the city.
  • Thanks to steady demand from local coin makers and industrial units, prices remained untouched at Rs.38,925 per kg the next day.
  • Silver rate in Ludhiana surged to Rs.39,110 per kg on the 3rd before plunging to Rs.38,995 per kg on the 4th after demand for the metal declined amid the strengthening US dollar.
  • However, demand picked up with the dollar index losing against a basket of other emerging currencies towards the end of the week.
  • Silver prices rose to Rs.39,265 per kg on the 5th which rose further to Rs.39,355 per kg on the 6th following an increase in demand amid the positive trends overseas.
  • Steady demand coupled with strong global cues resulted in silver price in Ludhiana remaining untouched at Rs.39,355 per kg for the remainder of the week.

January 2018 - Week 2 (8th - 14th):

  • Silver prices were recorded holding steady at Rs.39,355 per kg on the 8th when the week began amid positive overseas trends.
  • However, with the US dollar gaining against other apex currencies in the global markets, demand for the metal declined. This led to the metal being priced Rs.39,115 per kg and Rs.38,925 per kg on the 9th and the 10th respectively.
  • However, with demand picking up after an increase in offtake by industries and coin makers, silver price in Ludhiana surged to Rs.39,110 per kg on the 11th.
  • Strong global cues coupled with steady domestic demand resulted in the white metal prices remaining untouched at Rs.39,110 per kg the following day.
  • Silver rate in Ludhiana rose to Rs.39,265 per kg on the 13th which surged further to Rs.39,355 per kg on the 14th due to a decline in the US dollar index value in the international markets.

January 2018 - Week 3 (15th -21st):

  • The third week saw silver prices rising initially before plummeting on poor global cues towards the end of the week.
  • Silver was recorded trading relatively higher at Rs.39,680 per kg on the 15th as demand for the metal picked up amid the weakening equities and the US greenback.
  • Silver price in Ludhiana dropped slightly to Rs.39,670 per kg on the 16th and continued to remain unchanged at the same rate the next day.
  • The US dollar, however, regained lost ground and pushed demand lower for the industrial metal. This led to silver being priced at Rs.39,265 per kg on the 18th.
  • Though the white metal prices dropped to Rs.39,115 per kg on the 19th, silver rate in Ludhiana rebounded to Rs.39,265 per kg on the 20th following an uncharacteristic increase in demand in the domestic markets.
  • Steady demand from coin manufacturers and industries despite the weak global cues resulted in the industrial metal being priced at Rs.39,265 per kg for the rest of the week.

January 2018 - Week 4 (22nd -28th):

  • Strong safe-haven demand compounded by positive global cues resulted in silver rates rising significantly during the week.
  • When trading began for the week, the industrial metal was priced at Rs.39,265 per kg on the 22nd.
  • Steady domestic demand from local coin makers and industrial units amid the firm trends overseas resulted in the metal prices holding steady at Rs.39,265 per kg until the 24th.
  • The 25th, however, saw silver rate in Ludhiana surging to Rs.40,285 per kg on the 25th after investors and traders speculating over possible US government shutdown concerns ramped up safe-haven purchases.
  • Thanks to strong global demand amid the strong global cues, silver price in Ludhiana remained untouched at Rs.40,285 per kg until the end of the week.

January 2018 - Week 5 (29th - 31st):

  • The final week commenced with silver opening on a stronger note with the metal priced at Rs.42,700 per kg - the highest recorded monthly figure- on the 29th with an increased domestic demand brought about the positive trends overseas.
  • However, with markets eyeing on the two-day monetary policy meeting at the US Federal Reserve, the US dollar surged.
  • The strengthening greenback coupled with firmer equities resulted in silver rate in Ludhiana holding steady at Rs.42,200 per kg on the 30th and the 31st.
  • Silver price in Ludhiana rose by 8.41% owing to the strong trends that pushed rates higher during the month.

Silver as an investment

Silver as a precious metal has a store of value. Also, many believe as opposed to paper money, silver has no counterparty risk. Many investors in Ludhiana view silver as a valuable investment. Part of the reason is that the price of silver is not solely dependent on one single factor which can be easily manipulated on a global level for a long time in that the rate of the precious metal depends on several factors including its scarcity, demand and currency devaluation among others.

Physical silver: People in Ludhiana buy silver in multiple forms from silver bars and coins to jewellery and silver artefacts. There are several major jewellery stores in Ludhiana which offer different kinds of silver articles. Various items of jewellery from necklaces and bajubandh to rings and bracelets are sold.

Silver contracts: Silver is traded in Multi Commodity Exchange (MCX), National Multi Commodity Exchange (NMCE) and National Commodity & Derivatives Exchange (NCDEX). Silver micro is traded in 1 kg (unit) while SILVERM and SILVER 1000 are traded in units of 5 kg.

Silver rate in Ludhiana

Silver rate in Ludhiana depends on various national and international factors. The price of the precious white metal has been on the decline since the start of 2015 with 1 kg of silver pegged at Rs.39223 in January but decreased by -2.4% to Rs.38266 in February. The price of silver hovered around Rs.37436 throughout March and April. The price of silver rose by 7% to Rs.40465 in the middle of May but plummeted by -5.2% at Rs.38321 towards the end of May. The price of silver continued to slid further barring minor fluctuations, in the months of June and July at Rs.36742 and Rs.36030 respectively. The month of August witnessed a drop in the price of silver by -7.1% at Rs.33484. The price of silver rose by 4% to Rs.35049 in September but plummeted by -2.1% in the following months to Rs.34343 in December.

Also Check Silver Price in NearBy Cities of Ludhiana

Also Know: Silver Rate in Ludhiana

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