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  • Silver Rate in Madhya Pradesh

    Daily Silver Rates
    Date Silver (1 gram) Bar Silver (1 Kg)
    18 Jan 2018 ₹ 39.27 ₹ 39,265
    17 Jan 2018 ₹ 39.68 ₹ 39,680
    16 Jan 2018 ₹ 39.68 ₹ 39,680
    15 Jan 2018 ₹ 39.67 ₹ 39,670
    14 Jan 2018 ₹ 39.36 ₹ 39,355
    13 Jan 2018 ₹ 39.27 ₹ 39,265
    12 Jan 2018 ₹ 39.11 ₹ 39,110
    11 Jan 2018 ₹ 39.11 ₹ 39,110
    10 Jan 2018 ₹ 38.93 ₹ 38,925
    09 Jan 2018 ₹ 39.12 ₹ 39,115

    *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 Rate in Madhya Pradesh

    Silver is one of the important components of monetary reserves on a global scale. The price of silver depends on many factors such as falling industrial demand, gold-to-silver ratio and so forth. Geopolitical factors, currency rates, import duties, trade policies, gold prices in addition to silver importers, refiners, jewellery designers, merchandisers and market intermediaries play a role in price fluctuations of the white metal.

    Silver is one of the sought-after precious metals in Madhya Pradesh in various forms. Silver coins are more popular vehicles of investment. Sterling grade or grade 925 comprising 92.5% silver and 7.5% copper in the form of sterling jewellery is popular. Folk ornaments made of silver amongst the rural populace are widely in demand.

    Details of Silver Price in Madhya Pradesh (1 Kg) - Till December 2015

    Silver rate in Madhya Pradesh depends on several local, national and international developments. 1 kg of silver was pegged at Rs.35,956 as on December 2015. The price of silver has been on the decline since January this year when the metal was pegged at Rs.40283. The price of silver fell by -4.7% to Rs.38358 in February. The price of the white precious metal continued to slide further in March and April at Rs.38280 and Rs.38110 respectively. The price of silver, however, rose by 6.2% to Rs.40500 in the month of May. The price of the precious metal fell by -3.5% to Rs.39080 towards the end of the same month. In the following months, the price of silver fell by an average -1.7% to Rs.38410. Silver reached new lows in August before rebounding marginally in the month of September. 1 kg of silver which was pegged at Rs.36910 in October fell by -4.5% to Rs.35220 in November.

    Silver as an investment

    For many consumers in Madhya Pradesh, silver or ‘poor man’s gold’ is a valuable precious metal which is an effective hedge against overall inflation. Silver bars and coins are the most popular forms of investment. several jewellery exhibitions are regularly held across Madhya Pradesh offering a wide variety of traditional jewellery designs and customised pieces.

    Physical silver: Silver in Madhya Pradesh is much sought-after in the form of 1 kg bars and coins. Various forms of silver jewellery, including but not limited to, temple jewellery besides artefacts are widely sold and bought. Silver articles meant for auspicious occasions is also popular in addition to intricate and antique silverware among others.

    Silver contracts: Customers can trade in Multi Commodity Exchange,National Commodity & Derivatives Exchange and National Spot Exchange. Customers can choose from various sizes of contracts on MCX and can benefit from low impact costs. MCX Silver futures contract December 2015 fell by 8.25% to Rs.33,480 per kg in November.

    Trend of Silver Rate in Madhya Pradesh 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 SRs.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%

    Trend of Silver Rate in Madhya Pradesh 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.39,265 per kg on 29 November
    Overall Monthly Performance Decline
    Percentage Change -0.91%

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

    • When the first week of November began in Madhya Pradesh, silver was priced at Rs.38,995 per kg. Silver prices were actually on the decline this month, owing to poor demand from investors in the city.
    • A rise in demand on the 2nd, thanks to positive global cues, pushed silver rate in Madhya Pradesh up to Rs.39,950 per kg.
    • Though, prices remained the same on the 3rd, silver rate in Madhya Pradesh dropped to Rs.39,355 per kg on the 4th as demand took a hit after the initial rise.
    • When the week ended, the white metal was seen trading at Rs.39,355 per kg.

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

    • When trade exchanges opened on the 6th, silver priced had jumped to Rs.39,365 per kg - a Rs.10 increase from the previous day’s closing rates.
    • Silver rate in Madhya Pradesh surged up to Rs.40,040 per kg on the 7th as demand from local industrial units and coin makers rose significantly.
    • Silver continued to trade at Rs.40,040 per kg over the next two days, i.e., on the 8th and 9th as well because of a stable demand.
    • However, rates dropped to Rs.39,670 per kg on the 10th as demand reached saturation levels. This continued till the end of the week, ie., till the 12th.

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

    • Silver price in Madhya Pradesh had dropped slightly to Rs.39,870 per kg when trading commenced for the third week of November.
    • Prices rose for the next two days before tapering off briefly only to rise again amidst positive cues.
    • On the 14th, silver traded at Rs.40,140 per kg. This then went up to Rs.40,240 per kg as offtake from local silver-reliant businesses increased.
    • But, due to a decline in demand caused by a rising US dollar, silver rates went down to Rs.40,040 per kg.
    • The 18th witnessed silver rates rising significantly for the metal to trade at Rs.40,520 per kg as demand surged in the local circles on the back of the UK-EU situation.

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

    • Silver price in Madhya Pradesh had gone down to Rs.40,440 per kg when trading began on the 20th of November.
    • Rates dropped over the next two days, with the metal selling at Rs.39,780 per kg on the 21st and then at Rs.39,265 per kg on the 22nd of the month.
    • When trading opened on the 23rd, silver rates had gone up to Rs.40,060 per kg before selling at Rs.40,040 per kg the next day.
    • Over the 25th and 26th of November, silver rates were holding at Rs.39,780 per kg.

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

    • Silver rate in Madhya Pradesh dropped consistently over the final week of the month.
    • When trading began on the 27th, the white metal was priced at Rs.39,780 per kg.
    • Due to a drop in demand and subsequently the sales, silver rates fell to Rs.39,680 per kg on the 28th of November.
    • The 29th again saw silver prices in Madhya Pradesh fall to Rs.39,115 per kg as the US dollar was holding out strongly
    • When the month came to an end, silver was seen trading at Rs.38,640 per kg.
    • Silver rates in Madhya Pradesh declined by 0.91% over this month due to poor demand and sales.
    Parameters Silver price (per kg)
    October 1 Rate Rs.39,530 per kg
    October 31 Rate 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 (1-8):

    • When the month began, silver was trading lower than expected at Rs.39,530 per gram amid poor global trends and reduced domestic demand.
    • The US dollar stood firm despite the geopolitical crisis prevailing in the Korean peninsula. This led to prices declining over the next few days.
    • The industrial metal was recorded trading as low as Rs.39,110 per kg on the 5th of October after poor trends overseas led to reduced demand for industries and coin manufacturers.
    • Prices, however, recovered due to an increase in industrial offtake towards the end of the week. This led to rates surging to Rs.39,680 per kg on the 7th.
    • Steady demand - both global and domestic - led to prices remaining untouched at Rs.39,680 per kg on the 8th.

    October 2017 - Week 2 (9-15):

    • Silver trade in Madhya Pradesh saw prices rising initially before stabilising midway into the week owing to positive global as well as local trends.
    • When the week began, the industrial metal was trading relatively higher at Rs.39,950 per kg on the 9th, which further rose to Rs.40,060 per gram on the 10th due to an increase in demand from the Asian markets.
    • Equities markets were greatly impacted by the renewed tensions in the US over the proposed budgetary bills during the week. This led to silver rates surging to Rs.40,390 per kg on the 12th.
    • Steady demand amid a poorly performing dollar and unstable equity markets resulted in the industrial metal trading steady at Rs.40,390 per kg until the 15th.

    October 2017 - Week 3 (16-22):

    • Silver opened the third week priced at Rs.40,440 per kg - the highest recorded monthly figure - on the 16th.
    • With the equities market shifting its focus from geopolitical crisis in the Korean peninsula to the release of the US economic data, demand for safe-haven assets like gold and silver plunged. This led to the industrial metal being priced at Rs.39,110 per kg on the 19th.
    • However, domestic demand picked up with the arrival of Diwali on the 20th. This led to silver being priced at Rs.40,285 per kg.
    • Strong dollar values coupled with firmer equity markets led to silver being priced at Rs.40,040 per gram on the 21st and the 22nd.

    October 2017 - Week 4 & Week 5 (23-31):

    • Strong dollar rates coupled with poor overseas trends led to silver rates plunging during the last week of October.
    • The week commenced with the industrial metal trading at Rs.40,040 per gram on the 23rd.
    • However, the 25th saw prices declining to Rs.39,780 per kg due to reduced demand from industrial units and coin manufacturers.
    • Weak global trends coupled with strong dollar rates over the next couple of days resulted in the white metal being priced at Rs.39,115 per kg in the 28th and the 29th.
    • The month ended with silver trading relatively higher at Rs.39,435 per gram on the 31st. Madhya Pradesh registered a loss of 0.24% in prices 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.41,900 per kg on 9 and 10 September
    Lowest Rate in September Rs.39,530 per kg from 28 to 30 September
    Overall Monthly Performance Decline
    Percentage Change -2.12%

    September 2017- Week 1 (1 to 10)

    • The price of silver was on the increase in the first week of September as a low U.S. dollar rate led to higher demand from overseas industrial units.
    • Silver opened the week at Rs.40,390 per kg on 1 September, with the price remaining constant till 3 September due to consistent demand.
    • Silver prices Madhya Pradesh rose to Rs.41,075 per kg on 4 September as local demand was also on the increase, as market fluctuations led to a drop in equity performance.
    • There was a steady rise in the price of silver towards the middle of the week, with the metal trading at Rs.41,495 per kg on 6 September following the nuclear missile test by North Korea.
    • Prices fluctuated slightly, with silver briefly falling to Rs.41,230 per kg on 7 September on poor local demand.
    • Coin makers increased demand as the week drew to a close, which helped boost prices to Rs.41,675 per kg on 8 September.
    • Demand continued to rise, trading at Rs.41,900 per kg as the week ended on 10 September.

    September 2017- Week 2 (11 to 17)

    • Silver price in Madhya Pradesh dipped to Rs.41,075 per kg on 11 September as the week began, with an increase in the dollar rate following the recovery of the markets.
    • Silver fell to Rs.40,890 per kg on 14 September as fluctuating demand from overseas as well as domestic industrial units led to volatile prices.
    • In spite of the threat of nuclear aggression with North Korea, the U.S. markets were calm in the second week, which led to a reduction in demand for silver.
    • Prices did not change for the remainder of the week due to a decrease in demand from overseas industry and local coin makers.

    September 2017- Week 3 (18 to 24)

    • Prices dropped as the third week opened, with silver priced at Rs.40,440 per kg on 18 September.
    • Silver trading was on the decline as there was an increase in the rate of the U.S. dollar, which led to lower demand for bullion.
    • Silver prices in Madhya Pradesh fell to Rs.40,060 per kg on 20 September as the bullion markets did not see much in the way of trade.
    • The fluctuations in demand led to prices falling to Rs.39,670 per kg on 21 September before prices stabilised at Rs.40,040 per kg on 22 September.
    • Local demand continued to fall as the dollar rate was high, leading to static demand for silver.
    • The week ended with silver priced at Rs.40,040 per kg on 24 September.

    September 2017- Week 4 (25 to 30)

    • The last week saw the price of silver remain more or less stable, though there were some fluctuations.
    • Silver opened the week trading at Rs.39,670 per kg on 25 September before prices rose to Rs.40,520 per kg on 26 September due to a momentary dip in the dollar rate.
    • Silver prices in Madhya Pradesh dropped to Rs.39,780 per kg on 27 September as the threat of further aggression by North Korea declined, giving rise to bullish markets.
    • Strong markets in India as well as overseas led to a drop in demand for silver, which was manifested in the price falling to Rs.39,530 per kg on 28 September.
    • There was no change in price as the month drew to a close, with silver prices in Madhya Pradesh falling by 2.12% over the course of the month.

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