• Silver Rate in Ludhiana

    Daily Silver Rates
    Date Silver (1 gram) Bar Silver (1 Kg)
    10 Dec 2018 ₹ 40.3 ₹ 40,300
    09 Dec 2018 ₹ 40.3 ₹ 40,300
    08 Dec 2018 ₹ 40.3 ₹ 40,300
    07 Dec 2018 ₹ 39.6 ₹ 39,600
    06 Dec 2018 ₹ 39.5 ₹ 39,500
    05 Dec 2018 ₹ 39.6 ₹ 39,600
    04 Dec 2018 ₹ 39.6 ₹ 39,600
    03 Dec 2018 ₹ 39 ₹ 39,000
    02 Dec 2018 ₹ 38.5 ₹ 38,500
    01 Dec 2018 ₹ 38.5 ₹ 38,500

    *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 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%

    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.

    Trend of Silver Rate in Ludhiana for December 2017 (rates per kg)

    Parameters Silver price (per kg)
    Silver Rate on 1st December 2017 Rs.38,230 per kg
    Silver Rate on 31st December 2017 Rs.39,265 per kg
    Highest Rate in December Rs.39,365 per kg on 30 and 31 December
    Lowest Rate in December Rs.36,545 per kg on 13 December
    Overall Monthly Performance Incline
    Percentage Change 2.70%

    December 2017 - Week 1 (1st to 10th)

    • Silver was trading at Rs.38,230 per kg on the 1st when the month began in Ludhiana.
    • Silver price in Ludhiana rose to Rs.38,815 per kg on the 2nd after a decline in the US dollar index led to an incline in demand from industries and coin makers.
    • With the US Senate having approved the country’s biggest tax reform plan, the dollar began to regain lost ground. This led to silver prices dropping to Rs.38,005 per kg on the 4th before plunging further to Rs.37,965 per kg the following day.
    • The 6th saw silver rate in Ludhiana rebounding to Rs.38,395 per kg with an increase in industrial demand for the metal.
    • The rise in demand, however, couldn’t keep up against the strong US dollar and this led to silver prices dropping to Rs.37,235 per kg on the 7th.
    • Poor global cues coupled with reduced demand for the metal saw prices declining further to Rs.36,620 per kg on the 8th.
    • When the week ended, the industrial metal was recorded trading slightly higher at Rs.36,715 per kg due to a surge in demand brought about by the weakening of the US dollar.

    December 2017 - Week 2 (11th to 17th)

    • When trading opened for the second week silver was priced at Rs.36,920 per kg on the 11th with demand slightly improving from the previous week.
    • However, silver price in Ludhiana dropped to Rs.36,620 per kg the next day before declining to Rs.36,545 per kg on the 13th amid the strengthening US dollar and well-performing equity markets.
    • A decline in the US dollar index after the dollar weakened against other major emerging currencies led to an increase in demand for the white metal. This led to silver rate surging to Rs.38,395 per kg on the 14th.
    • The 15th, however, witnessed silver rate in Ludhiana plunging to Rs.36,920 per kg as demand for the metal subsided amid the strengthening dollar.
    • Prices remained unchanged at Rs.36,920 per kg on the 16th but rebounded to Rs.37,180 per kg on the 17th with the new interest rate hike by the Fed Reserve proving to be unfavourable for the equities market.

    December 2017 - Week 3 (18th to 24th)

    • Trading opened for the third week with the industrial metal priced at Rs.38,395 per kg on the 18th.
    • Uneven global trends and varying US dollar rates led to silver rates fluctuating throughout the week.
    • On the 19th, the white metal prices were holding at Rs.37,800 per kg. However, silver rate in Ludhiana surged to Rs.38,395 per kg on the 20th owing to a steep incline in industrial demand amid a positive trend overseas.
    • Prices dropped again to Rs.37,705 per kg on the 21st after a decline in demand was brought about by the US dollar’s strong performance against other apex currencies.
    • However, the new tax cuts by the Federal Reserve resulted in the Asian markets’ downfall. This led to an increase in demand for safe-haven assets such as silver and gold globally.
    • When the week concluded, the white metal was recorded trading at Rs.38,395 per kg amid the strong trends overseas.

    December 2017 - Week 4 (25th to 31st)

    • When trading commenced for the week, silver was priced at Rs.38,395 per kg on the 25th. However, a poor demand from industries led to silver rates dropping to Rs.38,005 per kg on the 26th.
    • Demand for the metal significantly rose during the week with the US dollar losing against other apex currencies. This led to the white metal being priced at Rs.38,275 per kg on the 27th.
    • The 29th witnessed silver price in Ludhiana surging to Rs.38,815 per kg before rising further to Rs.39,265 per kg the next day.
    • On the final day, silver traded at a monthly high figure of Rs.39,265 per kg, which was due to strong year-end investor sentiments.
    • Ludhiana recorded an incline of 2.70% in silver trade, thanks to the strong trend overseas that pushed demand higher for the industrial metal.

    Trend of Silver Rate in Ludhiana for November 2017 (rates per kg)

    Parameters Silver price (per kg)
    Silver rate on 1st November 2017 Rs.38,995 per kg
    Silver rate on 30th November 2017 Rs.38,640 per kg
    Highest Rate in November 2017 Rs.40,520 per kg on 18 and 19 November
    Lowest Rate in November 2017 Rs.38,640 per kg on 30 November
    Overall Monthly Performance Decline
    Percentage Change 0.91%

    November 2017 - Week 1 (1st to 5th):

    • When trading commenced for the month, the industrial metal was recorded priced at Rs.38,995 per kg on the 1st.
    • The week witnessed Silver rate in Ludhiana fluctuates significantly owing to vagaries in demand for the metal and the 2nd witnessed the metal trading at Rs.39,950 per kg due to an increase in demand ahead of the festive season.
    • Strong global trends amid the weak dollar index and fluctuating equities proved to be favourable for commodity markets globally.
    • This led to the white metal being priced at Rs.39,355 per kg on the 4th of November.
    • Steady international as well as local demand for the metal led to Silver price in Ludhiana holding steady at Rs.39,355 per kg for the remainder of the week.

    November 2017 - Week 2 (6th to 12th):

    • The second week opened with silver trading firm at Rs.39,355 per kg on the 6th owing to the steady consistent demand for the metal from the previous week.
    • With the political uncertainty in the Middle East following the sudden political purge in Saudi Arabia tumbling the world markets, Silver rate in Ludhiana surged to Rs.40,040 per kg on the 7th.
    • A weakened dollar coupled with poor performing equities markets led to Silver price in Ludhiana holding steady at Rs.40,040 per kg until the 9th of November.
    • However, demand declined halfway into the week as the US dollar began to recover from the initial shock. This led to rates plunging to Rs.39,970 per kg on the 19th.
    • Steady local demand despite the poor trend overseas led to prices remaining unchanged at Rs.39,970 per kg for the rest of the week.

    November 2017 - Week 3 (13th to 19th):

    • The political unrest in the Middle East coupled with the geopolitical crisis in the Korean peninsula led to an increase in safe-haven demand for the metal like gold and silver during the week.
    • When the week began, the white metal was recorded trading at Rs.39,870 per kg on the 13th.
    • However, the Brexit fallout during the week led to the equities market in the UK collapsing. This resulted in Silver rate in Ludhiana surging to Rs.40,140 per kg on the 14th.
    • Positive trends overseas coupled with an increase in orders from the Asian continent led to Silver price in Ludhiana rising further to Rs.40,240 per kg on the 15th.
    • Though prices remaining unchanged at Rs.40,240 per kg on the 16th, rates declined to Rs.40,040 per kg on the 17th after equities markets began to recover during the week.
    • However, the geopolitical crisis between the US and North Korea intensified the next pushing demand higher for investments considered safer. This led to an increase in global demand for the white metal and silver was recorded trading as high as Rs.40,520 per kg on the 18th and the 19th.

    November 2017 - Week 4 (20th to 26th):

    • With markets performing well following the previous week’s incline in demand, silver opened at Rs.40,440 per kg on the 20th.
    • However, with equities market recovering from the previous week’s downfall, demand for the metal declined. This led to Silver rate in Ludhiana plunging to Rs.39,780 per kg and Rs.39,265 per kg on the 21st and the 22nd respectively.
    • An incline in domestic demand amid a positive trend overseas led to silver being priced at Rs.40,060 per kg on the 23rd.
    • Steady global demand amid the ongoing US-North Korean crisis resulted in silver being priced at Rs.39,780 per kg for the remainder of the week.

    November 2017 - Week 5 (27th to 30th):

    • The last week of November witnessed Silver rate in Ludhiana plunging due to a steady decline in industrial demand for the metal.
    • When trading commenced for the week, the white metal was recorded trading at Rs.39,680 per kg on the 27th with consistent demand for the metal from local jewellers, industrial units and coin manufacturers.
    • With the world markets recovering ahead of the US Federal Reserve meeting due next month, Silver price in Ludhiana dropped to Rs.39,680 per kg on the 28th, which plunged further to Rs.39,115 per kg on the 29th amid a strengthening dollar and firm equity markets.
    • Silver trade concluded for the month with the industrial metal priced at Rs.38,640 per kg on the 30th.
    • Ludhiana registered a loss of 0.91% in silver rates during the month owing to a poor global demand coupled with weak overseas trends.
    Parameters Silver price (per kg)
    Silver rate on 1st October 2017 Rs.39,530 per kg
    Silver rate on 31st October 2017 Rs.39,435 per kg
    Highest Rate in September Rs.40,440 per kg on 16 October
    Lowest Rate in September Rs.39,110 per kg on 5 and 19 October
    Overall Monthly Performance Decline
    Percentage Change -0.24%

    October 2017 - Week 1 (1st to 8th)

    • Silver opened the month trading at Rs.39,530 per kg on 1 October due to subdued demand from industry and retailers alike.
    • Poor demand led to a drop in price, with the price of the metal falling on account of renewed geo-political tensions between the United States and North Korea leading to market uncertainty.
    • Demand was poor even though it was the holiday season, which led to silver price in Ludhiana falling to Rs.39,110 per kg on 5 October.
    • A recovery in price was observed as industrial demand surged in Asian economies, which led to silver prices in Ludhiana rising to Rs.39,680 per kg on 7 October.
    • Markets calmed as a steady rise in local demand kept silver prices in Ludhiana remaining constant at Rs.39,680 per kg on 8 October as the week ended.

    October 2017 - Week 2 (9th to 15th)

    • Silver prices in Ludhiana rose in the second week, with the metal priced at Rs.39,950 per kg on 9 October after an initial market rally..
    • Internal turmoil in the United States due to the ongoing skirmish with North korea and upcoming budgetary plans resulted in a dip in demand for the precious metal, though prices stayed constant.
    • Silver prices climbed to Rs.40,060 per kg on 10 October, with prices rising as demand was steady due to favourable market conditions and stable international demand.
    • The rise in price as well as relative stability of demand in the second week could be attributed to unstable markets, which increased demand for silver and gold among investors.

    October 2017 - Week 3 (16th to 22nd)

    • The third week began with silver priced at Rs.40,440 per kg on 16 October, with the industrial metal’s price staying constant due to steady demand.
    • Minor fluctuations in price wre observed due to vagaries in demand, but silver did not see mch in the way of changes in its price for most of the week.
    • Diwali led to increased demand for bullion, though silver prices in Ludhiana did not see too much upward movement.
    • The white metal was priced at Rs.40,060 per kg on 18 October as a reduction in demand for precious metals along with with a stable U.S. dollar led to prices falling.
    • Silver price in Ludhiana were quite unstable for the rest of the week, with silver rising momentarily to trade at Rs.40,285 per kg on 20 October.
    • Demand fell as silver ended the week priced at Rs.40,060 per kg on 21 & 22 October.

    October 2017 - Week 4 & Week 5 (23rd to 31st)

    • The last week of October saw the price of silver drop due to a decrease in industrial demand precipitated by poor industrial demand.
    • Silver traded at Rs.40,040 per kg on 23 October, with the price falling to Rs.39,780 per kg on 25 October due to a gradual decline in demand.
    • Prices continued to fall as silver traded at Rs.39,435 per kg on 27 October after sustained uncertainty over the nuclear threat from North Korea.
    • Local demand continued to be poor after the end of Diwali, which led to a further drop in demand for the precious metal.
    • Silver prices fell to Rs.39,115 per kg on 29 & 30 October before ending the month at Rs. Rs.39,435 per kg on 31 October and registering a drop in value of 0.24% over the course of the month.
    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
    Percentage Change -2.12%

    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.
    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
    Percentage Change 2.86%

    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.
    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
    Percentage Change 0%

    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.
    Parameters Silver price
    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
    Percentage Change -3.20%

    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
    Overall Performance Incline
    Percentage Change 0.04%

    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
    Overall Performance Decline
    Percentage Change -5.94%

    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
    Overall Performance Decline
    Percentage Change 3.16%

    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
    Overall Performance Incline
    Percentage Change +3.86%

    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
    Overall Performance Incline
    Percentage Change +7.54%

    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%.

    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.

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