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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 October 2016 (rates per kg)
|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