Silver Rate in Ludhiana

  • Today's Silver Rate In Ludhiana ( 12 Aug 2020 )

    ₹ 75.16
    Today's Silver Rate per gram

    Compare Silver Rate In Ludhiana (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Silver (1 gram) ₹ 75.16 ₹ 74.22 ₹ 0.94 ↑
    Bar Silver (1 Kg) ₹ 75,160 ₹ 74,220 ₹ 940 ↑

    Silver Price In Ludhiana For Last 10 Days

    Date Silver (1 gram) Bar Silver (1 Kg)
    11 Aug 2020 ₹ 75.16 ₹ 75,160
    10 Aug 2020 ₹ 74.22 ₹ 74,220
    09 Aug 2020 ₹ 74.21 ₹ 74,210
    08 Aug 2020 ₹ 76.52 ₹ 76,520
    07 Aug 2020 ₹ 73.51 ₹ 73,510
    06 Aug 2020 ₹ 71.51 ₹ 71,510
    05 Aug 2020 ₹ 65.06 ₹ 65,060
    04 Aug 2020 ₹ 65.41 ₹ 65,410
    03 Aug 2020 ₹ 65.13 ₹ 65,130
    02 Aug 2020 ₹ 65.12 ₹ 65,120

    Weekly & Monthly Graph of Silver Rate in Ludhiana

    • 7 Days
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    • 3 Months
    • 6 Months

    *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 July 2020 (rates per kg)

    Parameters Silver Price (per kg)
    July 1 Rate Rs.48,560 per kg
    July 31 Rate Rs.63,010 per kg
    Highest Rate in July Rs.66,060 per kg on 30 July
    Lowest Rate in July Rs.48,510 per kg on 5 July
    Overall Monthly Performance Incline
    Percentage Change 29.75%

    Trend of Silver Rate in Ludhiana for June 2020 (rates per kg)

    Parameters Silver Price (per kg)
    June 1 Rate Rs.50,120 per kg
    June 30 Rate Rs.48,510 per kg
    Highest Rate in June Rs.50,160 per kg on 2 June
    Lowest Rate in June Rs.47,110 per kg on 16 June
    Overall Monthly Performance Decline
    Percentage Change -3.21%

    Trend of Silver Rate in Ludhiana for May 2020 (rates per kg)

    Parameters Silver Price (per kg)
    May 1 Rate Rs.42,530 per kg
    May 31 Rate Rs.50,100 per kg
    Highest Rate in May Rs.51,400 per kg on 25 May
    Lowest Rate in May Rs.41,010 per kg on 2 May
    Overall Monthly Performance Incline
    Percentage Change 17.79%
    • The silver opened in the month of May in Ludhiana at Rs.42,530 per kg. Although there was a fall in prices the very next day which also recorded the lowest numbers for silver for the month at Rs.41,010 per kg, silver prices were still on track to grow as various Governments all over the world released various stimulus packages to boost their economy in response to the coronavirus pandemic. However, prices soon fell before the end of the first week as optimism about the lockdowns being eased rose, as investors looked to invest in riskier assets. This prompted investors to book profits. However, prices remained steady overall as the dollar continued to remain unchanged. The rising tensions between US and China also played a role in the weakening of the risk sentiments among investors in the stock market, which worked in favor of silver ultimately.
    • In the second week of May in Ludhiana, silver started at a price of Rs.42,060 and ended at a price of Rs.42,960, although it had surged to Rs.43,620 on 11 May 2020. The rise in silver prices could be attributed to a strong unemployment data which brought back the fears of global recession, thus forcing the investors to turn to precious metals as a safe-haven investment in uncertain times. However, the April US jobs data was being awaited by investors. The anticipation of the release of US nonfarm payrolls data also led to an increase in global silver prices.
    • Silver prices in the third week of May in Ludhiana started off at Rs.43,160, quickly growing to Rs.46,900, with prices more or less rising through the rest of the week, to end the week at Rs.48,200 per kg of silver. The high in prices could be attributed to the US jobs data which presented a bleak economy and dashed hopes of a quick turnover for the economy. The rising tensions around US-China trade relations contributed to the appeal of safe-haven investments. However, risk appetite also improved side by side as reports emerged of successful early-stage trials for a vaccine to combat Covid-19.
    • In the last week of May, silver prices in Ludhiana started at Rs.48,250 per kg and ended the month at Rs.50,100 per kg, with the month’s highest price falling on 25 May at Rs.51,400. The price of silver was affected due to the tensions related to protests in Hong Kong which ultimately resulted in the US-China trade relations being strained even more. Increased economic stimulus packages also played a role in boosting the price of white metal as investors lowered their risk appetite in such a volatile global economic scenario. There was a further rise in silver prices as the US dollar weakened as US Government remained silent regarding their response to China’s management of the Hong Kong protests and passing of a new security bill. Overall, the trend for silver in the month of May in Ludhiana was an incline of 17.79% which was in keeping with the overall global trends that were playing out politically and in the stock markets.

    Trend of Silver Rate in Ludhiana for April 2020 (rates per kg)

    Parameters Silver Price (per kg)
    April 1 Rate Rs.40,500 per kg
    April 30 Rate Rs.41,520 per kg
    Highest Rate in April Rs.42,710 per kg on 21 April
    Lowest Rate in April Rs.40,360 per kg on 6 April
    Overall Monthly Performance Incline
    Percentage Change 2.51%
    • The white metal stepped into the fourth month of the year, being priced at Rs.40,500 per kg. This had been the rates for one kilogram of silver for 5 consecutive days. From 1 April to 5 April, the price of silver was Rs.40,500 per kg. On 6 April, the metal had reached its lowest price for the month, Rs.40,360 per kg. On 7 April, the country saw the silver prices in Ludhiana drop to Rs.40,360 per kg as the global equities along with the U.S. dollar had strengthened. This was bolstered by the slowdown in the number of coronavirus cases across the word. On 9 April a lot of investors had hedged their risks ahead of a long weekend, owing to May Day and the meeting of all top oil producers had then aimed at stemming the market slump, amidst improving their risk sentiment and holding out hope that the coronavirus would settle. This led to an increase in the price of the white metal to Rs.41,290 per kg.
    • The third week opened with silver being priced at Rs.41,400 per kg on 12 April. By 14 April, the mounting fears over a global economic downturn, driven by the coronavirus had, in turn, heightened the bullion's safe-haven status. On 16 April, the price of silver had risen to Rs.41,920 per kg and this was boosted by the safe-haven demand because of weak manufacturing data from the U.S. and low retail sales which had increased the fears of a global economic recession. From 17 April to 19 April, the rates of silver saw a decrease from Rs.41,860 per kg to Rs.41,210 per kg. This is a decrease by Rs.650.
    • By 20 April, the price of silver had been dragged down by firm a U.S. dollar amid a lot of doubts over the plans of the U.S. to reopen its economy. By 22 April, the rates of the white metal had dropped to Rs.41,660 per kg. This fall had been driven by investor appetite for a safe haven and the stimulus measures rolled out by central banks. These were caused by the fear over a large-scale economic recession. The price of the metal kept fluctuating throughout the week. It had reached Rs.42,540 per kg on 26 April.
    • On 29 April, the rates of the precious metal had fallen and settled at Rs.42,210 per kg. This dip in price was because of the risk appetite that had been boosted by plans of a few countries to start easing their curbs that had been established to combat and control the coronavirus. The month had ended with the metal standing at Rs.41,520 per kg on 30 April. During this month, the metal had seen a dip an overall increase in its price trend by 2.51%.

    Trend of Silver Rate in Ludhiana for March 2020 (rates per kg)

    Parameters Silver Price (per kg)
    March 1 Rate Rs.47,400 per kg
    March 31 Rate Rs.40,500 per kg
    Highest Rate in March Rs.50,700 per kg on 6 March
    Lowest Rate in March Rs.37,800 per kg on 19 March
    Overall Monthly Performance Decline
    Percentage Change -14.55%
    • The prices of silver in the city of Ludhiana opened at Rs.47,400. There was no change in the price of silver when compared to the closing price of the white metal for the previous month. However, the prices of silver rose considerably by Rs.1,100 on the second day of the month of March.
    • The prices of silver rose thereafter and recorded its highest on March 6, 2020 at Rs.50,700 after reports that US Federal Reserve will cut interest rates in order to counter the effect of Covid-19 on the global markets. This news had a tremendous impact on the global markets following which the prices of the white metal shot up.
    • However, the prices of silver dropped considerably and recorded its lowest on March 19, 2020 as investors went on a selling spree over fears that the global economy will undergo recession due to the outbreak of Coronavirus all over the world.
    • The prices of silver did rise marginally but it was still not enough as the overall prices capped a disappointing month for the white metal. The prices of silver closed at Rs.40,500 on the last day of the month of March.
    • Overall, the prices of silver in the city of Ludhiana declined by 14.55%.

    Trend of Silver Rate in Ludhiana for February 2020 (rates per kg)

    Parameters Silver Price (per kg)
    February 1 Rate Rs.50,300 per kg
    February 29 Rate Rs.47,400 per kg
    Highest Rate in February Rs.52,900 per kg on 24 February
    Lowest Rate in February Rs.47,400 per kg on 29 February
    Overall Monthly Performance Decline
    Percentage Change -5.76%
    • In Ludhiana, the price of silver opened at Rs.50,300 in the month of February. In February, the prices of the white metal fluctuated throughout the month. The effect of the coronavirus ensured that silver hit its highest rate in over 7 years. By the end of the first week, silver was priced at Rs.49,900 for a kg.
    • In the second week of the month, silver saw minor changes to its prices. A strong dollar ensured that the prices of the white metal did not increase in the second week. Silver closed the week priced at Rs.50,000 per kg.
    • Silver saw a huge increase in its prices in the domestic markets in the third week of the month. The outbreak of the coronavirus outside China and the demand for the white metal ensured that the prices increased. Silver closed the week at Rs.52,400 per kg.
    • Even though the price of silver hit its highest rate at the beginning of the fourth week at Rs.52,900, the prices decreased drastically by the end of the week as investors booked profit. Silver hits its lowest rate on the last day of the month at Rs.47,400 per kg. Overall, silver saw a decline of 5.76% in February.

    Trend of Silver Rate in Ludhiana for January 2020 (rates per kg)

    Parameters Silver Price (per kg)
    January 1 Rate Rs.50,300 per kg
    January 31 Rate Rs.50,200 per kg
    Highest Rate in January Rs.52,600 per kg on 8 January
    Lowest Rate in January Rs.49,200 per kg on 30 January
    Overall Monthly Performance Decline
    Percentage Change -0.19%
    • In Ludhiana, silver started the month of January at Rs.50,300 per kg. Compared to the closing price of the previous month, the rates of the white metal slipped by Rs.600 per kg.
    • Due to the ongoing trade tensions between Washington and Tehran, the rates witnessed an inclining trend over the first week of the month in the city. This resulted in the metal touching its highest for the month on 8 January with every kilo costing Rs.52,600.
    • With dollar getting a boost after the United States and China signed the interim Phase 1 of the trade deal, the rates of the precious metal slipped. Easing tensions in the Middle East also helped matters. Silver was retailed for Rs.49,800 per kg on 22 January.
    • Silver prices slipped towards the end of the month after increasing gradually. The fall in the prices was accounted to the World Health Organization (WHO) declaring coronavirus as a global epidemic. The rates closed the month at Rs.50,200 per kg with the overall performance showing a decline of 0.19%.

    Also Check Silver Price in NearBy Cities of Ludhiana

    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 Know: Silver Rate in Ludhiana

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