Silver Rate in Madhya Pradesh

Daily Silver Rates

Date	Silver (1 gram)	Bar Silver (1 Kg)
25 Jul 2017	₹ 38.23	₹ 38,230
24 Jul 2017	₹ 38.12	₹ 38,120
23 Jul 2017	₹ 38.01	₹ 38,005
22 Jul 2017	₹ 38.01	₹ 38,005
21 Jul 2017	₹ 37.8	₹ 37,800
20 Jul 2017	₹ 37.6	₹ 37,600
19 Jul 2017	₹ 37.71	₹ 37,705
18 Jul 2017	₹ 37.6	₹ 37,600
17 Jul 2017	₹ 37.18	₹ 37,180
16 Jul 2017	₹ 37.18	₹ 37,180

*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.

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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.

Also Know: Gold Rate In Madhya Pradesh

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.