Silver Rate in Madhya Pradesh

*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.

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 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%

Trend of Silver Rate in Madhya Pradesh 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%

Trend of Silver Rate in Madhya Pradesh for February 2018 (rates per kg)

Parameters	Silver price (per kg)
February 1 Rate	Rs.42,600 per kg
February 28 Rate	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):

• The month began in Madhya Pradesh with the white metal trading at Rs.42,600 per kg on the 1st after the US dollar weakened ahead of the US employment data. This was also the lowest monthly figure recorded in the city.
• Silver rate in Madhya Pradesh remained unaltered at Rs.42,600 per kg on the 2nd owing to strong domestic demand amid the positive global cues.
• However, the US dollar index rose against other emerging currencies after the US payrolls data proved to be stronger than expected. This led to silver price in Madhya Pradesh plunging to Rs.41,700 per kg on the 3rd.
• Thanks to the subdued but steady demand from industries and coin manufacturers, the rest of the week saw the industrial metal prices holding steady at Rs.41,700 per kg on the 4th.

February 2018 - Week 2 (5th - 11th):

• When trading commenced for the second week,  silver was priced relatively lower at Rs.41,500 per kg on the 5th after demand for the metal declined amid weak global cues.
• Though rates rose to Rs.41,900 per kg the next day, silver price in Madhya Pradesh plunged to Rs.41,400 per kg on the 7th with the US dollar index rising against other apex currencies in the international market.
• Poor trends overseas compounded by weak demand resulted in silver rate in Madhya Pradesh dropping further to Rs.40,800 per kg on the 8th.
• The 9th saw the white metal rates rebounding to Rs.41,000 per kg following an unexpected incline in domestic demand despite the poor trend overseas.
• However, with the dollar and equities market performing well in the international trade, silver rates in Madhya Pradesh plummeted to Rs.40,600 per kg on the 10th. This was also the lowest recorded monthly figure in the State.
• The week concluded with the industrial metal trading at Rs.40,600 per kg on the 11th with poor demand amid the weak trends overseas.

February 2018 - Week 3 (12th - 18th):

• Poor dollar performances coupled with weakly performing equities resulted in silver prices rising considerably during the course of the week.
• The week began with silver priced relatively higher at Rs.40,900 per kg on the 12th with the US dollar losing ground ahead of the US inflation data.
• The next couple of days saw silver rate in Madhya Pradesh rising after markets awaited the inflation data for clues on the pace of Fed rate hikes during the year. The white metal was recorded trading at Rs.41,300 per kg on the 13th before rising to Rs.41,400 per kg on the 14th amid the positive trends overseas.
• Prices surged to Rs.41,800 per kg on the 15th before plunging to Rs.41,700 per kg on the 16th with the US dollar strengthening following the US inflation data.
• With investors and traders gravitating on safe-haven assets to hedge against inflation concerns, demand for the metal surged. This led silver price in Madhya Pradesh holding steady at Rs.41,700 per kg for the remainder of the week.

February 2018 - Week 4 (19th - 25th):

• The fourth week commenced with the industrial metal priced at Rs.41,600 per kg on the 19th.
• However, silver rate in Madhya Pradesh plunged to Rs.41,200 per kg the next day after the US dollar strengthened against other emerging currencies.
• Though rates remained untouched at Rs.41,200 per kg on the 21st amid the poor trends overseas, silver price in Madhya Pradesh rebounded to Rs.41,400 per kg the next day with an increase in demand from local industries and coin manufacturers.
• Prices surged further to Rs.41,600 per kg on the 23rd with the US dollar index and equities market losing in the international market.
• The 24th saw rates declining slightly to Rs.41,500 per kg after domestic demand stabilised amid the firm trends overseas.
• Thanks to steady demand from industries and coin makers, the rest of the week saw silver trading firm at Rs.41,500 per kg amid the positive trend overseas.

February 2018 - Week 5 (26th - 28th):

• When trading commenced for the last week, silver prices in Hyderabad were recorded holding at Rs.41,600 per kg on the 26th.
• With markets eyeing on the Federal Reserve Chairman Jerome Powell’s first congressional testimony, the US dollar weakened. This led to silver rate in Madhya Pradesh surging to Rs.41,700 per kg on the 27th.
• The month came to an end with the industrial metal trading at Rs.41,200 per kg on the 28th as the US dollar strengthened after Jerome Powell vowed to save the country’s economy from overheating while sticking to planned Fed rate hikes.
• Silver trade in Madhya Pradesh registered a loss of 3.28% during the course of the month.

Trend of Silver Rate in Madhya Pradesh 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 (1 - 7):

• Silver prices in Madhya Pradesh witnessed a steady rise in prices this week due to an increased demand from local coin makers and industrial units.
• Silver was priced at Rs.38,925 per kg, when the first month of 2018 opened for trading.
• Rates in fact surged significantly towards the later part of the month as the dollar fell and local demand boomed.
• This price then rose to Rs.39,115 per kg on the 2nd as there was an increased demand for purchases.
• On the 3rd, silver prices in Madhya Pradesh fell very slightly to Rs.39,110 per kg, before going up marginally to Rs.39,115 per kg on the 4th.
• Silver rates rose on the 5th to hit Rs.39,265 per kg as demand was on the rise - a considerably strong rise compared to sub par performance of the previous few days.
• This 6th and the 7th of January saw silver rates rise to Rs.39,355 per kg and hold on at this rate till the closing hours of the week.

January 2018 - Week 2 (8 - 14):

• Silver was recorded trading at Rs.39,265 per kg when the second week of January began on the 8th.
• However, silver prices in Madhya Pradesh dropped to Rs.39,110 per kg on the 9th after equity markets strengthened amid a strong dollar index, causing demand to drop.
• Silver rates continued to hold at Rs.39,110 per kg levels over the next few days as demand from industrial units and coin manufacturers remained steady.
• Silver rates in the nizam city surged to Rs.39,265 per kg before rising further to Rs.39,355 per kg on the 13th as the US dollar seemed to weaken amid growing concerns in the US.
• Strong industrial demand coupled with a positive trend overseas led to silver rates continue at at Rs.39,355 per kg at the time of the week’s closing on the 14th of January.

January 2018 - Week 3 (15 - 21):

• The third week of January started strongly due to a sudden burst in demand but rates fell as the week progressed and demand took a hit.
• SIlver was seen trading at Rs.39,680 per kg - a Rs.325 per kg incline - when trading commenced for the week.
• As mentioned above, rates seemed to be on the decline for much of the week after a strong start.
• Over the 16th and the 17th of January, silver rates held on at Rs.39,670 per kg as demand seemed to drop amid poor sales.
• Prices took a hit again on the 18th and they went down to Rs.39,265 per kg as local investors backed out from purchases as the US dollar seemed to rally.
• When the market closed for the 21st of January, the white metal was seen trading at Rs.39,265 per kg.

January 2018 - Week 4 (22 - 28):

• Due to a lack of clear stimulus silver rates saw little change over the fourth week of January - following the same trend as the previous week.
• The week however, began strongly with the metal being priced at Rs.42,000 as markets opened for the week on the 22nd of January.
• Silver continued to trade at Rs.42,000 per kg on the 23th as demand from local investors was steady.
• The white metal continued trading at Rs.42,000 per kg on the 24th as well before some changes led to price increase the next day.
• Overnight trading positions towards the 25th of January pushed silver prices to surge to Rs.43,100 per kg.
• Silver rates held on at Rs.43,100 per kg as demand from all investor circles - i.e., coin makers, jewellers, and industries remained flat.

January 2018 - Week 5 (29 - 31):

• When trading began for the final week in January, silver was priced at Rs.42,700 per kg, which was the highest silver rate for this month.
• Silver prices fell to Rs.42,200 per kg on the 30th - the second day of this week as the US dollar remained strong, thanks to a firm equity market.
• The 31st too saw silver rates continue at Rs.42,200 as the demand form the previous day continued to flourish.
• Strong global cues and a strong local demand heralded a record-breaking change in prices for the month of January.
• Silver price trends witnessed a massive 8.41% incline this month, owing to strong-than-ever sales.

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%

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

• When trading commenced in Madhya Pradesh, silver was recorded trading at Rs.38,230 per kg on the 1st of December.
• Prices rose to Rs.38,815 per kg on the 2nd due to an increased demand from industries and coin makers amid the strong trends overseas.
• The US dollar, however, rose against a basket of other emerging currencies with the US tax reform plan edging a step closer to being passed. This led to silver rate in Madhya Pradesh dropping to Rs.37,965 per kg on the 5th.
• Despite poor trends overseas, domestic demand for the metal picked up. This led to silver price in Madhya Pradesh rebounding to Rs.38,395 per kg on the 6th.
• With the Republican tax bill being cleared by the US Senate, the US dollar regained lost ground over the next couple of days. This resulted in the industrial metal prices plunging to Rs.37,235 per kg on the 7th before plummeting to Rs.36,620 per kg the following day.
• A marginal increase in demand in the domestic trade amid the ongoing local wedding season led to silver prices rising to Rs.36,715 per kg as the week came to an end.

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

• The week began with silver trading slightly higher at Rs.36,920 per kg amid an improving demand for the metal.
• Silver Prices in Madhya Pradesh plunged to Rs.36,620 per kg on the 12th before dropping further to Rs.36,545 per kg - the lowest recorded monthly figure - on the 13th with the US dollar strengthening ahead of the US Federal Reserve’s monetary policy meeting during the week.
• However, the US dollar lost against other apex currencies after the Fed Reserve decided to raise its benchmark interest rates. This led to silver rates rebounding to Rs.38,395 per kg on the 14th.
• With the US dollar index recovering from the previous day’s losses amid the well-performing equities, demand for the industrial metal declined. This resulted in silver being priced at Rs.36,920 per kg over the next couple of days.
• The week concluded with the white metal prices holding at Rs.37,180 per kg on the 17th after the equities market declined against the new US interest rates.

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

• The third week opened with the industrial metal trading as high as Rs.38,395 per kg on the 18th amid firm trends overseas.
• Though prices plunged to Rs.37,800 per kg on the 19th with the US dollar attempting to make a comeback, an increase in demand by industrial units and coin manufacturers led to silver rates in Madhya Pradesh rebounding to Rs.38,395 per kg on the 20th.
• The uneven global trends coupled with significant demand vagaries resulted in prices fluctuating for much of the week.
• Silver was priced at Rs.37,705 per kg on the 21st with the US dollar gaining against other emerging currencies in the world market.
• The next few days saw the Asian stocks declining with the new US tax cuts. This led to an increased demand for safe-haven assets such as silver.
• The week concluded with the industrial metal trading at Rs.38,395 per kg on the 24th amid the strong trends overseas.

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

• The final week began with the white metal trading steady at Rs.38,395 per kg on the 25th amid firms global trends.
• Though prices plunged to Rs.38,005 per kg on the 26th owing to a decline in industrial demand, silver rates surged to Rs.38,275 per kg on the following day after the US dollar lost against a basket of other emerging currencies in the world markets.
• Strong demand from industrial units and coin manufacturers amid the positive overseas trends resulted in the metal being priced at Rs.38,275 per kg on the 27th.
• The weakened US dollar coupled with losing equities led to silver prices rising to Rs.38,815 per kg on the 29th which surged further to Rs.39,265 per kg - the highest recorded monthly figure - on the 30th.
• Trading concluded for the month with silver price in Madhya Pradesh holding steady at Rs.39,265 per kg on the 31st owing to strong investor sentiments and Madhya Pradesh registered a profit of 2.70% in silver trade during the course of the month.

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.

Also Check Silver Price in NearBy Cities of Madhya Pradesh

Silver Rate in Indore

Silver Rate in Bhopal

Read more on Silver

• Need For Silver As An Industrial Commodity
• Amazing Facts About Silver
• What Is Spot Silver?
• Silver Bars And Silver Coins
• Silver Jewelry