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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 September 2017 (rates per kg)
|Parameters||Silver price (per 1 kg)|
|Silver rate on 1st September||Rs.40,390 per kg|
|Silver rate on 30th September||Rs.39,530 per kg|
|Highest Rate in September||Rs.40,900 per kg on 9 and 10 September|
|Lowest Rate in September||Rs.39,530 per kg on 28 to 30 September|
|Overall Monthly Performance||Decline|
September 2017 - Week 1 (1st - 10th)
- Silver was trading at Rs.40,390 per kg when September began in Ludhiana.
- Due to continued and stable demand from local investors prices remained unchanged till the 3rd.
- The 4th saw silver rates in Ludhiana increase to Rs.41,075 per kg, courtesy of a weak US dollar performance.
- As demand increased, silver prices in Ludhiana went up to Rs.40,340 per kg and then to Rs.41,495 per kg as industrial ramped up their purchases to improve their inventory.
- Due to a sudden fall in demand on the 7th, rates fell to Rs.40,230 per kg.
- The final three days saw increased demand for silver as North Korea confirmed reports about its latest - and the most powerful nuclear test.
- On the 8th, silver was trading at Rs.41,675 per kg, which then increased to Rs.41,900 per kg on the 9th.
- The week ended with silver still trading at Rs.41,900 per kg due to low yet stable demand.
September 2017 - Week 2 (11th - 17th)
- Silver prices this week was largely on the decline as a result of a strengthening US dollar.
- On the 11th, silver in Ludhiana was priced at Rs.41,075 per kg before going down slightly to trade at Rs.41,030 per kg on the 12th.
- Silver rates in Ludhiana rose to Rs.41,075 per kg on the 13th again but fell this time by a higher margin.
- On the 14th, the white metal was priced at Rs.40,890 per kg and continued at this rate till the end of the week.
September 2017 - Week 3 (18th - 24th)
- Silver rates in Ludhiana was reflective of the trend seen in the consolidated Indian market. When the week began on the 18th, the metal was priced at Rs.40,440 per kg.
- A strong US dollar performance had an adverse effect on silver on the 19th as the metal traded at Rs.39,680 per kg.
- The North Korea - US conflict didn’t seem to settle down, which stoked safe-haven purchases, globally and domestically.
- A drop in demand on the 21st saw the white metal trade at Rs.39,670 per kg. Due to steady and sustained demand, silver rates remained unchanged till the week came to an end.
September 2017 - Week 4 (25th - 30th)
- The last week of September saw silver rates in Ludhiana remain steady before one of the initial days saw prices rise considerably.
- On the 25th of September, the white metal was trading at Rs.39,670 per kg - a Rs.370 decline from the prices seen on the 24th of the month.
- With demand for the Dussehra season rising, and with jewellers and coin makers scaling up their purchases - silver rates went up to Rs.40,520 per kg on the 25th of September.
- However, this spike in demand was a one-time event, which led to prices falling on the 26th to Rs.39,780 per kg.
- After demand consolidated in the city, silver rates in Ludhiana went down again on the 27th to Rs.39,530 per kg, which continued till the closing hours of the 30th.
- Silver rates in the city declined by 2.12% this month, courtesy of a weak demand from both international and indian circles.
Trend of Silver Rate in Ludhiana for August 2017 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver Rate on 1st August||Rs.38,925 per kg|
|Silver Rate on 31st August||Rs.40,040 per kg|
|Highest Rate in August||Rs.40,190 per kg on 29 & 30 August|
|Lowest Rate in August||Rs.37,235 per kg on 5 & 6 August|
|Overall Monthly Performance||Incline|
August 2017 - Week 1 (1st - 6th)
- On the 1st of August, when the month started, silver was priced at Rs.38,925 per kg.
- Silver rate in Ludhiana fell to Rs.38,455 per kg on the 2nd due to a lack of demand from various concerned parties, i.e., industrial units and coin makers hailing from the city.
- Silver rate in Ludhiana slumped further to Rs.37,965 per kg on the 3rd as a result of demand still remaining weak.
- The 4th saw prices increase to Rs.38,120 per kg as bullion demand surged all over the country and hence the city.
- This sudden rise in prices was an anomaly, though. Rates fell by nearly Rs.900 to go down to Rs.37,235 per kg as demand fell again amidst weak global demand.
- When the week came to an end, silver was still trading at Rs.37,235 per kg.
August 2017 - Week 2 (7th - 13th)
- The second week of August began on a glum note due to little change in demand.
- On the 7th, the white metal was trading at Rs.37,295 per kg. Rates surged to Rs.38,345 per kg as industrial demand pushed purchases up and subsequently the prices.
- Rates fell back again on the 9th to reach Rs.37,965 per kg as the number of purchases went down.
- The 10th saw silver rate in Ludhiana rise to Rs.38,925 per kg as a direct result of the rising tensions between the US and North Korea.
- Silver prices went up on the 11th also, to Rs.39,530 per kg, as investors —coin makers and industrial units — decided to increase their inventory.
- Over the 12th and the 13th, silver rate in Ludhiana was seen holding at Rs.39,670 per kg as demand remained steady.
August 2017 - Week 3 (14 - 20):
- Silver rate in Ludhiana fluctuated considerably towards the latter half of this week.
- On the 14th of the month, silver was trading at Rs.39,670 per kg. This rate continued on to the 15th as well, thanks to sustained purchases from various quarters of the city.con
- The 16th, however, saw prices drop to Rs.38,815, due to a weak trend overseas.
- With investors ramping up their purchase, silver rates pushed back up to Rs.39,530 per kg on the 17th before falling again, to Rs.39,115 per kg.
- As demand was stable, rates remained at Rs.39,115 per kg till the end of the week.
August 2017 - Week 4 (21st - 27th)
- The US dollar bounced back during the mid week which affected global as well as local silver sales.
- On the 21st of August, silver was seen trading at Rs.39,115 per kg - the same price as seen at the closing hours of the 20th.
- Silver price in Ludhiana went up to Rs.39,265 per kg on the 21st before remaining steady on the 22nd.
- The 24th saw price in Ludhiana increase to Rs.39,355 per kg before dropping to Rs.38,995 per kg on the 25th as dollar rallied against other currencies.
- Silver prices in Ludhiana remained at Rs.38,995 per kg over the final two days of this week, owing to steady demand for the metal.
August 2017 - Week 5 (28th - 31st)
- The last week of August began with the metal trading at Rs.39,435 per kg.
- Rates went up to a monthly high figure of Rs.40,190 per kg on the 29th and the 30th as jewellers ramped up their purchases to meet retail demand.
- When the month came to an end on the 31st, silver was seen trading at Rs.40,040 per kg.
- Overall, silver price in Ludhiana trends surged by 2.86% for this month, thanks to a weak dollar and a strong domestic bullion demand.
Trend of Silver Rate in Ludhiana for July 2017 (rates per kg)
|Parameters||Silver price (per kg)|
|July 1st Rate||Rs.38,640 per kg|
|July 31st 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 2017 - Week 1 (1st to 9th)
- Silver prices in Ludhiana started for the month of July at Rs.38,640 per kg.
- Due to sustained buying from domestic jewellers and industrial units, rates remained unchanged on the 2nd.
- The 3rd witnessed silver prices hit a monthly high figure of Rs.38,690 per kg. This development was due to a poor performance on the part of the US dollar, which had reached near nine-month low figures.
- Silver prices fell to Rs.37,705 per kg on the 4th before going up to Rs.37,800 as strong international demand led to a hike in local trading prices.
- Rates sustained at Rs.37,115 per kg towards the end of the week as a positive US job data pushed dollar exchange values up considerably.
July 2017 - Week 2 (10th - 16th)
- The 10th of July saw silver trade at Rs.36,035 per kg - the lowest rate for the month - as US markets strengthened amidst a positive outlook.
- Rates, however, increased from the 11th onwards as media reports were ripe with claims that US President Trump’s family had colluded with Russia to win the election.
- The 12th again led to prices increase as US dollar tanked, which subsequently led to increased buying in the local market.
- Silver prices in Ludhiana were holding at Rs.36,920 per kg on the 12th and 13th as investors decided to use the situation to their advantage.
- On the 14th, prices dipped to Rs.36,270 per kg as demand seemed to reach saturation levels.
- That notion, though, was short lived as purchases ramped up on the 15th to drive prices up to Rs.37,180 per kg as US economic data was headed for a fall.
July 2017 - Week 3 (17th - 23th)
- On the 17th, when the third week began, silver was priced at Rs.37,180 per kg, which then spiked to Rs.37,600 per kg on the 18th.
- The 19th as well maintained the positive growth with rates going up to Rs.37,705 per kg before a slowed down purchase brought rates down to Rs.37,600 per kg on the 20th.
- Investors, particularly those from industries and the jewellery segment, began purchasing silver more on the 21st, which led to the metal trading at Rs.37,800 per kg.
- During the last two days of the week, silver prices stabilised to hold at Rs.38,005 per kg.
July 2017 - Week 4 (24th - 31st)
- The final week’s trading began with silver trading at Rs.38,120 per kg due to subdued demand from industries and jewellers.
- Rates went up to Rs.38,230 per kg on the 25th before going down to Rs.38,120 per kg because various sections of investors were waiting for a price correction.
- Silver rates were on the ascent on the 27th with prices reaching as high as Rs.38,690 per kg but decline considerably over the last few days of the month.
- The month ended with the white metal trading at Rs.38,640 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 and 27 June|
|Overall Monthly Performance||Decline|
June'17 - Week 1 (1st - 4th)
- When trading started for June in Ludhiana, silver was priced at Rs.40,285 per kg.
- As there was no steady demand from local circles, silver prices in Ludhiana fluctuated considerably.
- On the 2nd, silver prices dropped by Rs.385 to trade at Rs.39,950 per kg.
- Courtesy of a dip in US economy silver prices increased to Rs.40,670 per kg on the 3rd of June.
- When the week ended on the 4th, silver rates in Ludhiana remained at Rs.40,670 as demand remained steady.
June '17 - Week 2 (5th - 11th)
- When the second week began in Ludhiana, silver was still trading at Rs.40,670 per kg. Prices didn’t change on the 6th as well due to a sustained demand for the metal.
- The 7th saw silver trade at Rs.40,890 per kg - which happened to be the highest silver rate for the month.
- As the US economy seemed to recover, silver prices fell on the 8th to go down to Rs.40,725 per kg.
- Prices decreased gradually during the next few days as the US dollar strengthened and silver demand remained sluggish.
- On the 9th, silver was trading at Rs.40,285 per kg and dropped to Rs.40,060 per kg on the 10th.
- When the second week’s trading came to an end in Ludhiana, silver rates remained at Rs.40,060 per kg.
June'17 - Week 3 (12th - 18th)
- Silver prices fluctuated significantly in Ludhiana during the 3rd week of June as rates saw a gradual decrease.
- On 12th June, silver was trading at Rs.39,680 per kg but went down to Rs.39,435 per kg on the 13th due to a drop in demand.
- On the 14th, silver prices dropped to Rs.39,115 per kg before increasing briefly to Rs.39,265 per kg on the 15th.
- Rates fell by Rs.270 per kg on the 16th - to hit Rs.38,995 per kg -as demand failed to pick up.
- On the 17th, silver recorded its biggest price drop - to the tune of Rs.535 - as investors backed out on a slightly higher scale.
- When the week ended, silver rates closed at Rs. 38,460 per kg.
June '17 - Week 4 (19th - 25th)
- When the fourth 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 rates 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.
- The week ended on the 25th with the white metal trading at Rs.38,925 per kg.
June'17 - Week 5 (26th - 30th)
- The final week of June opened with silver trading at Rs.38,925 per kg.
- However, as demand dropped significantly, prices dropped to Rs.38,455 per kg, which also happened to be the lowest for the month.
- Some end of the month trading led to an increase in demand and subsequently the prices.
- On the 28th, silver prices went up to Rs.39,115 per gram - a Rs.650 per kg increase from the previous day’s closing figures.
- Silver prices in Ludhiana declined by 3.20% during this month due to a combination of local and international factors.
|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.37,705 per kg on 11th and 12th of May|
May 2017 - Week 1 (1st - 7th):
- On the 1st of May, silver was priced at Rs.40,040 per kg, which then went down to Rs.39,115 per kg on the 2nd due to a massive drop in demand.
- Prices fell again on the 3rd to Rs.38,925 per kg as jewellers - coin makers in particular - remained wary of investing in the metal.
- The 4th saw prices fall yet again and ended the day’s pricing at Rs.38,230 per kg.
- On 5th, silver prices decreased for the fifth consecutive day as rates went down to Rs.37,965 per kg but increased on the 6th to reach Rs.38,005 per kg.
- When the week came to an end on the 7th, silver prices were still holding at Rs.38,005 per kg.
May 2017 - Week 2 (8th - 14th):
- When the second week of May began in Ludhiana, silver prices had regressed by Rs.40 to start at Rs.37,965 per kg.
- On the 9th, prices went down by Rs.100 due to a lack of demand for silver to trade at Rs.37,865 per kg.
- The 10th of May was when silver prices hit their lowest for the month. The low prices were due to a constant decrease in demand over the previous few days.
- On the 11th, silver prices were the same as on the 10th - at Rs.37,705 per kg.
- However, silver prices rallied over the next few days to end the week on a relative high.
- During the trading hours of the 12th, silver prices were recorded at Rs.37,865 per kg, which then went up to Rs.38,005 per kg on the 13th.
- The last day of May week 2 didn’t see any price change as silver was still trading at Rs.38,005 per kg.
May 2017 - Week 3 (15th - 21st):
- Unlike the previous week, silver prices gained overnight to start the 15th at Rs.38,230 per kg - a Rs.225 incline.
- Prices went up again on the 16th as demand from coin makers and the industrial sector rose considerably.
- On the 16th, silver was priced at Rs.38,640 per kg and went up again on the 17th to trade at Rs.38,995 per kg.
- Silver rates went up again on the 18th - this time by Rs.270 to close the day at Rs.39,265 per kg, but fell the next day to Rs.38,815 per kg due to a sudden drop in demand.
- Prices rose on the 20th to Rs.39,115 per kg after an unexpected fall the previous day.
- When the week came to an end, silver prices were still remained at Rs.39,115 per kg.
May 2017 - Week 4 (22nd - 28th):
- The fourth week of May saw prices fluctuate consistently due to an uneven demand for the metal.
- When the week began on the 22nd, silver was trading at Rs.39,265 per kg, which inclined to Rs.40,040 per gram on the 23rd.
- However, the rapid rise in demand couldn’t be sustained, leading to a drop of Rs.370 per kg, to bring prices down to Rs.39,670 per kg.
- After an anomalous fall, prices went up to Rs.39,950 per kg on the 25th and remained level on the 26th as well.
- The 27th saw prices increase to Rs.40,190 per kg and remained unchanged till the end of the week.
May 2017 - Week 5 (29th - 31st):
- When trading began for the last week of May, silver prices were recorded at Rs.40,285 per kg.
- Silver prices went up on the 30th to trade at Rs.40,520 per kg - making it the highest trading rate for the entire month.
- The same demand couldn’t be sustained which led to prices falling on the final day of May 2017 to Rs.40,060 per kg.
- Overall, silver prices inclined in Ludhiana at a marginal rate of 0.04% for the month of May.
|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 15th & 16th April|
|Lowest Rate in April||Rs.40,040 per kg on 29th & 30th April|
April ’17- Week 1 (1st to 9th)
- Silver prices in Ludhiana reflected trends seen across the country, with the prices rising in the first week of April due to steady demand.
- Silver was priced at Rs.42,570 per kg on 1st April as industrial demand was steady and overseas demand increased.
- Silver prices rose to Rs.42,730 per kg on 4th April as local demand also increased, following a surge in industrial demand as markets sank, giving impetus to higher demand.
- Demand fluctuations led to prices dropping as the week drew to a close, with silver trading at Rs.42,640 per kg on 9th April, though prices appeared to stabilise during the week.
April ’17 – Week 2 (10th to 16th)
- The second week saw silver prices rise as the U.S. Dollar fell on negative cues, with the U.S. stock markets also following suit.
- Silver traded at Rs.41,625 per kg on 10th April but soon rose to trade at Rs.42,775 per kg on 13th April.
- Tensions over the North Korean crisis led to U.S. markets plunging, which also resulted in the U.S. Dollar rate decreasing, thereby increasing demand for exports.
- Local demand also began to rise as silver reached Rs.43,030 per kg on 14th April due to increased industrial demand from overseas.
- The week ended with silver trading at a monthly high of Rs.43,055 per kg on 16th April as demand from overseas markets coupled with poorly performing markets and a weak U.S. Dollar led to higher overall demand.
April ’17 – Week 3 (17th to 23rd)
- Silver prices were steady as the week began but demand dropped gradually as markets began to recover, leading to a decline in exports.
- Silver traded at Rs.43,030 per kg on 17th April but prices soon fell to Rs.42,435 per kg on 19th April amidst a revival by the U.S. markets as geo-political factors were more market conducive.
- The decline in industrial demand due to a rising U.S. Dollar also put a dampener on overall demand, resulting in silver prices falling to Rs.42,080 per kg on 21st April.
- Demand from coin makers also slowed down as the week ended, with silver trading at Rs.41,980 per kg on 23rd April.
April ’17 – Week 4 (24th to 30th)
- The price of silver fell sharply in the last week of April as demand continued to fall owing to strong markets and a resurgent U.S. Dollar.
- Silver traded at Rs.41,625 per kg on 24th April as European markets also gained in value following positive news in the run-up to the French presidential election.
- Industrial demand stagnated due to higher import costs as the U.S. Dollar continued its bullish run, which led to silver prices dropping to Rs.40,520 per kg on 26th April.
- Local demand also failed to stabilise prices as silver went into freefall, trading at Rs.40,040 per kg on 29th April, with the price remaining the same as the month ended.
- Silver prices fell by 5.94% over the course of the month.
|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)
- Rate of silver in Ludhiana was Rs.43,970 per kg on the 1st of March and as the month progressed, there were a number of fluctuations noted.
- This precious metal traded at Rs.44,100 per kg due to high demand from coin makers and industrialists. This was also the highest at which silver traded for the month of March in Ludhiana.
- Silver rate in Ludhiana increased to Rs.43,295 on the 4th of March as demand started to pick up, and they remained stable on the next day as well to close the week at the aforementioned rate.
March ‘17 - Week 2 (6th to 12th)
- The rate of silver in Ludhiana on the first day of the second week of March was Rs.42,925 – with no rise being recorded in from the price on the closing day of the first week of the month.
- Rates fell slightly the next few days due to decline in demand. They were recorded at Rs.42,570 per kg on the 7th of March, Rs.41,900 per kg on the 8th of March, and Rs.41,435 per kg on the 9th of March.
- A steep reduction on the 10th of March saw prices tumble to Rs.40,670 per kg, after which another decline saw rates drop to Rs.40,520 per kg on the 11th.
- Price of Silver in Ludhiana remained constant on the last day of the second week of March due to consistent demand and the rate of silver on the last day of the week was Rs.40, 520 per kg.
March ’17- Week 3 (13th to 19th)
- Silver rate in Ludhiana on the first day of the third week of March was Rs.40,760 per kg due to minor reduction in the value of the U.S.Dollar.
- Rates reduced on the second day of the third week, trading at Rs.40,440 per kg.
- On the 15th of March, prices fell to a monthly low at Rs.40,040 per kg, after which an incline by Rs.850 saw them rise to Rs.40,890 per kg on the 16th.
- A slight decrease on the 17th saw prices fall to Rs.40,815 per kg and rates remained stable for the next three days, closing the third week of March at Rs.40,815 per kg.
March ’17- Week 4 (20th to 26th)
- Silver opened the second last week of the month at Rs.41,075 per kg, which was relatively higher than the rates noted during the previous week. However, the same could not be said for the rates noted during the next day.
- Rates reduced on the 21st of March, trading at Rs.40,725 per kg due to fluctuations in demand.
- Due to an incline in demand, silver closed the penultimate week of March on a strong note as price of this metal increased to Rs.41,340 before rising again and closing the week at Rs.41,435 per kg.
March ’17 – Week 5 (27th to 31st)
- On the first day of the last week of March, silver traded at Rs.41,900 per kg in Ludhiana which was higher than the rates seen during the previous week. This is due to a rise in the demand for silver in domestic markets.
- As the demand went up, the rate of silver in Ludhiana followed suit as well and traded at Rs.42,115 per kg on the 28th of March. The rate was noted until the 29th of March.
- Due to continued demand from coin makers and industrialists, silver price increased to Rs.42,435 per kg.
- However, this demand was not sustained and on the last day of the month, silver closed at Rs.42,115 per kg recording a decline of 4.21%.
|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 ‘17 - Week 1 (1st to 5th)
- The price of silver in Ludhiana during the first week of February was relatively low owing to a reduction in demand for this precious metal from industrialists and coin makers.
- Silver traded at Rs.42,520 per kg on 1st February, with the price increasing to Rs.42,640 per kg on 2nd February .
- A fall in demand for this meta led to a decrease in price, as silver traded at Rs.42,115 per kg on 3rd February. This was also the lowest at which silver traded for the month of February.
- Rates increased a little as the week ended, with silver trading at Rs.42,335 per kg on 5th February. A weekly decrease of Rs.165 per kg was recorded in the price of silver.
February ‘17 - Week 2 (6th to 12th)
- On the first day of the second week of February, silver traded at Rs.42,520 per kg on 6th February, with the rates increasing to Rs.42,930 per kg on 7th February on higher demand from industrialists.
- Prices fluctuated during the week, with silver trading at Rs.42,950 per kg on 9th February before declining to Rs.42,375 per kg on 10th February due to a slump in industrial demand.
- An increase in local demand led to rates increasing slightly as silver traded at Rss.42,570 per kg on 11th February.
- Price of silver remained unchanged as the week ended, with silver trading at Rs.42,570 per kg on 12th February.
February ’17- Week 3 (13th to 19th)
- An increase in the value of the U.S. Dollar led to silver demand being muted as the week began, with the metal trading at Rs.43,280 per kg on 13th February.
- Price of silver rose to Rs.43,115 per kg on 15th February and later rose to Rs.43,520 per kg on 17th February due to a sudden drop in the value of the U.S. Dollar due to a the U.S. Fed showing no signs of changing rates of interest.
- Local and international kept rates stable as demand fluctuated, trading at Rs.43,400 per kg on 18th February.
- The week ended with this precious metal trading at Rs.43,400 per kg on 19th February, recording a weekly increase of Rs.120 per kg.
February ’17- Weeks 4 & 5 (20th to 28th)
- The price of silver in the last two weeks of February fluctuated due to U.S. Dollar rates and varying demands for this metal in the local market.
- Silver traded at Rs.43,270 per kg on 20th February, with the rate falling further to trade at Rs.43,240 per kg on 22nd February.
- A minor increase in demand from industrial units led to silver trading at Rs.43,680 per kg on 24th February.
- Silver prices rose to Rs.43,910 per kg on 25th February, with the price rising to Rs.44,110 per kg on 27th February.
- Rate of silver continued to rise as the month ended, trading at Rs.44,165 per kg on 28th February to record an overall increase of 3.86%.
|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)
- The price of silver in the month of January rose due to a rise in demand from the industrial sector coupled with favourable market conditions.
- Silver was priced at Rs.39,035 per kg on 1st January, with the price rising in the next few days due to increasing demand from coin makers.
- A dip in the U.S. Dollar led to higher demand for silver, pushing prices to Rs.40,285 per kg on 4th January.
- Prices reached a weekly high of Rs.40,670 per kg on 5th January before a slight dip in demand led to prices falling to Rs.40,435 per kg on 6th January.
- The week ended with silver trading at Rs.40,390 per kg on 7th January, recording a weekly price rise of Rs.1,355 per kg.
January ‘17 - Week 2 (8th to 14th)
- Silver prices in Ludhiana rose in the second week of February on consistent demand from the industrial sector, as global markets fluctuated due to geo-political uncertainties.
- Silver was priced at Rs.40,390 per kg on 8th January and rose to Rs.41,295 per kg on 11th January as local demand as well as industrial demand increased due to a slide in dollar values.
- Prices dipped marginally towards the end of the week, trading at Rs.41,265 per kg in 12th January.
- Silver was priced at Rs.41,230 per kg on 14th January, recording a weekly increase in price of Rs.840 per kg.
January ’17- Week 3 (15th to 21st)
- Fluctuations in silver demand characterised the third week of January, as uncertainty over fiscal policy led to markets falling, though demand did not appear to capitalise on the market drop.
- Silver traded at Rs.41,230 per kg on 15th January, rising to Rs.41,560 per kg on 16th January.
- Prices reached Rs.41,990 per kg on 18th January on increasing demand due to a drop in the U.S. Dollar value, though local demand was sluggish.
- Prices began to drop as demand slowed for the rest of the week, trading at Rs.41,675 per kg on 20th January.
- Silver recovered as the week ended as domestic demand rose marginally, trading at Rs.41,930 per kg on 21st January.
January ’17- Weeks 4 & 5 (22nd to 31st)
- Market volatility led to fluctuations in the price of silver in Ludhiana, as silver traded at Rs.41,930 per kg on 22nd January.
- Prices rose to Rs.42,180 per kg on 23rd January on heightened demand due to a dipping U.S. Dollar.
- Industrial demand from Asia fell following Lunar New Year, but falling markets offset the decrease in demand, as silver traded at Rs.41,835 per kg on 25th January.
- Prices fell to Rs.41,075 per kg on 27th January and remained constant due to sluggish demand.
- The end of the month saw silver trade at Rs.41,980 per kg on 31st January, registering an overall increase 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 2016 - Week 1 (1st to 4th):
- In Ludhiana, silver prices fluctuated for the entirety of December.
- When the first week began on 1st, silver was trading at Rs.40,450 per kg and increased to Rs.40,795 on 2nd.
- Prices increased on the 3rd to trade at Rs.41,070, courtesy of a rise in demand worldwide.
- When the week ended on the 4th, silver was seen trading at Rs.41,070 per kg, as it increased by Rs.570.
December 2016 - Week 2 (5th to 11th):
- Week 2 began with silver trading at Rs.41,055 per kg and witnessed quite a bit of fluctuations for the next few days.
- On 9th, silver prices increased to Rs.41,290 per kg courtesy of a sudden upswing in global demand.
- When the week ended on 11th, silver prices were up by a little bit which helped th metal trade at Rs.41,345 per kg.
December 2016 - Week 3 (12th to 18th):
- As there was no major catalytic factors around the world, silver prices seemed to go down over the third week of December.
- When week 3 began on the 12th, silver was seen trading at Rs.41,345 per kg.
- However, prices decreased significantly to hit Rs.40,605 per kg on 15th.
- On 18th, at the end of the week, silver was seen trading at Rs.39,305 per kg as global trends saw a further decrease.
December 2016 – Week 4 (19th to 25th):
- Silver prices continued on its downward trend during the fourth week as well/
- When the week began on the 19th, silver was trading at Rs.39,345 per kg but fell considerably to hit Rs.38,815 per kg on the 22nd.
- Prices dropped further to Rs.38,700 per kg on the 23rd, but gained a little bit more on the 24th.
- At the end of week 4, silver traded at Rs.38,725 per kg as demand saw a slight increase on Christmas.
December 2016 – Week 5 (26th to 31st):
- The last week of 2016 saw silver prices improve when compared to the previous four weeks.
- On 26th of December, silver prices fell from previous week’s prices to hit Rs.Rs.38,460 per kg .
- Silver traded at Rs.39,680 per kg on 29th as markets saw some fluctuations.
- The last day of the year silver prices fell to Rs.39,035 per kg, as 2016 came to an end.
- Overall, silver prices in Ludhiana saw a change of -3.46% for the month of December.
|November 1st Rate||Rs.42,910 per kg|
|November 30th Rate||Rs.41,055 per kg|
|Highest Rate in November||Rs.44,960 per kg on 9th November|
|Lowest Rate in November||Rs.40,190 per kg on 25th November|
November '16 - Week 1 (1st to 6th)
- Silver prices in Ludhiana were high as the month began, trading at Rs.42,910 per kg on 1st November on sustained demand.
- The upcoming U.S. presidential election caused uncertainty in the markets, which boosted demand for silver.
- Domestic demand was also high, with silver reaching Rs.44,645 per kg on 3rd November.
- Prices fluctuated as the week ended, with silver trading at Rs.44,180 per kg on 6th November.
November '16 - Week 2 (7th to 13th)
- Prices were stable as the week began, rising as markets fell sharply following the surprise election of Donald Trump.
- Silver traded at Rs.43,685 per kg on 7th November, with prices rising to a monthly high of Rs.44,960 per kg on 9th November.
- The announcement of the demonetisation of Rs.1,000 and Rs.500 notes led to Indian stocks plummeting, which led to silver bookings rising.
- Silver prices dropped towards the end of the week due to a decrease in demand, with silver trading at Rs.42,005 per kg on 13th November.
November '16 - Week 3 (14th to 20th)
- Currency shortages across the country due to demonetisation led to demand for bullion falling, which lowered silver prices.
- Silver traded at Rs.41,760 per kg on 14th November as markets began to recover, which led to decreased demand.
- Retail demand also fell due to the currency shortage as industrial demand dropped sharply.
- Silver ended the week trading at Rs.40,735 per kg on 20th November, marking a significant decline in price.
November '16 - Week 4 and 5 (21st to 30th)
- The continued currency shortage led to retail demand for silver dropping sharply.
- Silver traded at Rs.40,890 per kg on 21st November as international demand also slowed due to recovering markets.
- The U.S. Dollar rose as the week progressed, which caused silver prices to fall to Rs.40,190 per kg on 25th November, the lowest for the month.
- Prices recovered marginally as the month ended, with silver trading at Rs.41,055 per kg on 30th November.
|October 1st Rate||Rs.45,900|
|October 31st Rate||Rs.43,035|
|Highest Rate in October||Rs.45,900 on October 1st and October 2nd|
|Lowest Rate in October||Rs.41,685 on October 7th|
October ’16 – Weeks 1 and 2 (1st to 9th)
- Silver prices were recorded at Rs.45,900 on the 1st of October, and rates remained unchanged on the 2nd. This was the highest rate in the month.
- A consistent decline in prices was recorded until the 8th of the month when they touched Rs.41,800 per gram.
- Silver closed the second week of trading at Rs.41,800 as they were no changes on the last day of the week.
- The overall decline in prices between the start of October and the 9th of the month was Rs.1,100.
October ’16 – Week 3 (10th to 16th)
- Silver prices stood at Rs.42,600 on the first day of the third week of October as an increase of Rs.800 was recorded in comparison with the last day of the previous week.
- A decline in prices by Rs.15 on the second day of the third week saw prices plunge to Rs.42,585 on the 11th and 12th of October, after which they declined consistently for the next two days.
- Silver was priced at Rs.41,780 on the 15th of the month and they remained stable on the 16th to close the week at the same rate.
- Silver prices fell by Rs.820 over the course of the third week of October.
October ’16 – Week 4 (17th to 23rd)
- The price of silver per kg was recorded at Rs.41,970 at the start of the fourth week of October as prices increased on the 17th of the month.
- Prices climbed to Rs.42,290 following an increase of Rs.320 on the second day of the week, after which they first declined by Rs.20, and the increased by the same amount on the following two days to remain at Rs.42,290 on the 20th of October.
- A decline in prices on the 21st of October was followed by a rise on the 22nd to Rs.42,130, and rates remain constant for one more day and close the week at Rs.42,130 per kg.
- Silver prices increased by Rs.160 between the first and last day of the fourth week of October.
October ’16 – Week 5 (24th to 31st)
- Silver prices stood at Rs.42,330 on the 24th of October after a small increase in rates from the closing levels of the previous week.
- Rates rose over consecutively on the next two days before a fall in price on the 27th saw them settle at Rs.42,295 per kg.
- Silver was priced at Rs.42,500 on the 28th and then fell to remain stable for two days at Rs.42,270.
- An increase of almost Rs.800 on the last day of the month saw prices rise to Rs.43,035 and end the month strongly.
|1st Day||Rs.45,225 per kilogram|
|Last Day||Rs.45,750 per kilogram|
|Highest Price||Rs.47,820 per kilogram on 7th September|
|Lowest Price||Rs.45,225 per kilogram on 1st September|
September '16 - Week 1 (1st to 4th)
- On account of the U.S. economic data, it was unlikely that there will a hike in the interest rate by the U.S. Federal Reserve this month.
- As expectations of the hike died down, demand for silver went up.
- September saw an opening of silver at Rs.45,225 per kilogram.
- The rate reached Rs.46,760 per kilogram on the 3rd and 4th of September.
- The week’s rise was recorded at 3.39%.
September '16 - Week 2 (5th to 11th)
- Silver prices experienced some fluctuation this week owing to uncertainty of the Fed rate hike.
- Silver traded at Rs.46,760 per kilogram on the 5th of this month.
- Silver reached its highest in the week on the 7th, at Rs.47,820 per kilogram.
- As the prospects of a rate hike grew stronger, silver fell to Rs.46,835 per kilogram on 10th and 11th of this week.
September '16 - Week 3 (12th to 18th)
- Silver continued to fall this week as the trends in the global market were bearish.
- Silver traded at Rs.45,715 per kilogram on 12th September.
- Demand for silver in the domestic market dropped as the offtake from industrialists and coin makers fell.
- Silver fell by Rs.1,465 per kilogram by the end of this week, trading at Rs.45,370 per kilogram on 17th and 18th September.
September '16 - Week 4 (19th to 25th)
- Silver was recorded at Rs.46,110 per kilogram on 19th September.
- Prices soared this week with the Fed rate hike being put on hold.
- There will not be any hike in Fed rate until December as presidential elections was in full swing.
- On 22nd September, Silver was at its highest at Rs.47,590 per kilogram.
- Although demand went high, prices fell marginally to Rs.47,535 per kilogram on 23rd September and maintained the same rate for the remainder of the week.
September '16 - Week 5 (26th to 30th)
- Silver slid during this week owing to weak industrial support.
- Silver traded at Rs.46,950 per kilogram on 26th September.
- The dollar grew stronger and led to bearish tendencies in the global market.
- Silver dropped to Rs.45,750 per kilogram by 30th September.
- Although silver prices went down this week, September saw an incline of 1.16%.
|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)
- Silver rates on 1st August were quite high at Rs.49,430.
- The strong rates were support by trends in the equity market coupled with a weaker dollar.
- Silver continued to climb and traded at Rs.49,670 per kilogram on 3rd August. This was the highest price silver hit for the month of August.
- Rates soon started to slip with a slight decline as the U.S. economy strengthening.
- By the end of the week, silver traded at Rs.47,255 per kilogram.
August '16 – Week 2 (8th to 14th)
- Silver rates fluctuated this week but domestic demand helped it remain relatively stable.
- Silver traded at Rs.47,460 per kilogram on 8th August.
- On August 10th, silver rates climbed to Rs.48,595 per kilogram on account of an increase in demand.
- Silver traded at Rs.47,750 per kilogram by the end of the week at a stable pace.
August '16 – Week 3 (15th to 21st)
- Week 3 opened with silver trading at Rs.47,750 per kilogram on 15th August.
- Through the week, the offtake by industrialists reduced leading to a drop in demand for silver.
- Investors fear a rate hike by the U.S. Federal Reserve will be inevitable in the near future as the U.S. economy seems strong enough now.
- Silver rates declined further and traded at Rs.46,690 per kilogram by the end of the week.
August '16 – Week 4 (22nd to 28th)
- Global and domestic market trends did not play in favor of silver this week.
- The declining trend continued into week 4 with silver trading at Rs.45,800 per kilogram on 22nd August.
- In the domestic market, prices are expected to pick up in the second half of 2016 on account of the upcoming festive season.
- Silver traded at Rs.45,040 per kilogram on 28th August.
August '16 - Week 5 (29th to 31st)
- As the U.S. Federal Reserve policymakers are confident of a rate hike soon, the global market demand was dampened.
- Silver traded at Rs.44,805 per kilogram on 29th August. This was the lowest rate recorded for the month.
- Demand in the domestic market was also not favorable leading to a declining trend of 8.03% this month.
- Silver traded at Rs.45,460 per kilogram on 31st August.
|1st Day||Rs.46,490 per kg|
|Last Day||Rs.48,970 per kg|
|Highest Price||Rs.49,745 per kg on 11th July|
|Lowest Price||Rs.46,490 per kg on 1st July|
July'16 - Week 1 and 2 (1st to 10th)
- The price of silver on the opening day of the month was Rs.46,490 per kg.
- An increase was seen in the price of silver on the 2nd to Rs.47,920. This rate was steady until the 3rd.
- Mild fluctuations were seen in rates of silver and on the 6th there was a dramatic incline to Rs.49,300 per kg.
- A decrease was seen in silver rates to close at Rs.47,720 per kg on the final day of the week.
July'16 - Week 3 (11th to 17th)
- On the 11th, the price of silver was Rs.49,745 per kg which was also the highest for the month.
- A decline of Rs.500 was noted in silver rates the next day.
- The rate of silver continued to decrease as the week progressed.
- Silver prices stayed steady at Rs.48,840 per kg on the last two days of week 3.
July '16 - Week 4 (18th to 24th)
- Throughout the fourth week, the price of silver continued to fluctuate.
- As compared to the previous week, there was a decline noted in silver prices to Rs.48,360 per kg and continued declining after that as well.
- Price of silver fell drastically to cost Rs.46,665 per kg on the 21st. This was also the lowest rate for the week.
- On the 24th, the price of silver was Rs.47,420 per kg.
July‘16 - Week 5 (25th to 31st)
- Throughout the week, there were variations noted in the price of silver.
- Rates varied between Rs.47,160 per kg to Rs.47,375 per kg before rising slightly.
- On the last two days of the week, the price of silver was steady at Rs.48,970 per kg.
|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)
- Silver prices in Ludhiana took a downward turn as industrial demand for silver fell and market conditions were unfavourable.
- Silver traded at Rs. 42,590 for a kg on the 1st of May and rose marginally on the 2nd of May, trading at Rs. 42,675 per kg.
- The price fell after the initial surge, dropping by Rs. 655 in a single day to trade at Rs. 41,565 per kg on the 3rd of May.
- Prices fluctuated for the rest of the week, closing at Rs. 41,875 on the 8th of May.
May '16 -Week 3 (9th to 15th)
- Prices were steady at the start of the week but declined as the week progressed, resulting in an overall drop in the price.
- Silver traded at Rs. 41,725 per kg on the 9th of May, with the price falling further to Rs. 40,890 on the 10th of May as demand dipped sharply.
- Prices rose fractionally as the Dollar weakened, leading to a surge in demand domestically.
- After recovering from a Rs. 315 per kg drop in price, silver closed at Rs. 41,255 per kg on the 15th of May.
May '16 - Week 4 (16th to 22nd)
- The fourth week of May saw prices continue to dip, as Asian markets made gains and the economy strengthened after positive U.S. manufacturing data was released.
- The price of silver remained unchanged at Rs. 41,255 per kg on the 16th of May, rising to Rs. 41,545 on the 17th of May.
- The price declined as the week progressed, trading at a low of Rs. 40,040 per kg on the 20th of May as demand dropped steeply.
- Prices stabilised at Rs. 40,135 per kg on the 22nd of May.
May '16 - Weeks 5 and 6 (23rd to 31st)
- Silver prices fell to their lowest price in the last week as the economy recovered and the Dollar rose against global currencies.
- Silver was priced at Rs. 40,060 on the 23rd of May, with the price steadily declining throughout the week.
- The stock market’s surge and the recovery of stock markets kept prices and demand for silver low.
- The anticipation of a rate hike after U.S. job market data was released led to the Dollar gaining ground on the 30th of May, as silver fell to Rs. 38,795 per kg, the lowest price in May.
- Silver was priced at Rs. 39,065 per kg on the 31st of May, as demand grew marginally.
|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 declined during the first four days of the month after which they increased steadily for two days before gaining stability 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 April.
- Prices began to increase on the fifth day of trading as international and domestic trends grew stronger amidst an increase in industrial demand.
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 11th of April and Rs.39,110 on the 17th.
- Prices recorded an overall increase of Rs.2000 during the course of the week.
Apr ‘16 - Week 4 (18th to 24th)
- Silver rates fluctuated as the week progressed and became stable on the last two days of trading.
- Prices were recorded at Rs.38,920 on the first day of the week and Rs.41,155 on the last.
- The increase in prices over the week exceeded Rs.2200, making it the week with the highest gains in April.
Apr ‘16 - Week 5 (25th to 30th)
- Barring marginal declines in prices on the fourth and last day of trading, silver prices increased consistently over the last week of April.
- Prices were recorded at Rs.40,810 on the 25th of April 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 traded in the red as the month started.
- Prices were Rs.37,005 on 1st and Rs.36,640 on 6th.
- A net loss of Rs.365 was experienced this week.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Prices rose marginally in the second week.
- Rates were Rs.37,695 on 7th and Rs.37,710 on 13th.
- The net gain was Rs.15 this time.
Mar'16 - Week 3 (14th to 20th)
- The third week brought bigger gains for silver.
- Rates were Rs.37,650 on 14th and Rs.37,865 on 20th.
- A net gain of Rs.215 was experienced in the week, with the highest monthly rate of Rs.38,640 observed on 18th.
Mar'16 - Week 4 (21st to 27th)
- Silver lost a lot of value in the fourth week.
- Rates were Rs.37,930 on 21st and Rs.36,685 on 27th.
- The net loss here was Rs.1,245.
Mar'16 - Week 5 (28th to 31st)
- There were more losses for silver towards the end of the month.
- 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 had an eventful first week where it gained Rs.1,955.
- Prices were Rs.34,970 on 1st and Rs.36,925 on 7th.
- Silver posted profits on all days of the week.
Week 2 (8th to 14th)
- Silver had more profits in the second week, rising in excess of Rs.1,500 over the week.
- Rates were Rs.36,950 on 8th and Rs.38,525 on 14th.
- Silver was weak at the beginning however it covered the losses and rose by a significant amount by the end of the week.
Week 3 (15th to 21th)
- Silver had subdued gains in the third week, to the tune of Rs.710.
- Prices were Rs.37,220 on 15th and Rs.37,930 on 21st.
- Prices stayed above Rs.37,000 all through the week and fluctuating in low amounts to end a more or less stable week.
Week 4 (22nd to 29th)
- Silver ended the month on a negative note as it lose some value.
- Prices were Rs.37,615 on 22nd and Rs.36,295 on 29th.
- Prices declined over the week at regular intervals, ultimately closing Rs.1,320 lower than week-beginning rate.
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
|Silver Rate in Delhi||Silver Rate in Lucknow||Silver Rate in Chandigarh|
|Silver Rate in Srinagar|
|Also Know: Silver Rate in Ludhiana|
Read more on Silver
- Silver – Poor Man’s Gold
- Silver Bars and Silver Coins
- Global Demand for Silver
- How to Find Certified/Authentic Silver
- Need for Silver as an Industrial Commodity