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Silver Rate in Madhya Pradesh
Silver is one of the important components of monetary reserves on a global scale. The silver price 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 Check Silver Price in Metro Cities
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.
- Also Know: Gold Rate In Madhya Pradesh
Trend of Silver Rate in Madhya Pradesh for April 2022 (rates per kg)
| Parameters | Silver Price (per kg) |
| April 1 Rate | Rs.71,700 per kg |
| April 30 Rate | Rs.69,500 per kg |
| Highest Rate in April | Rs.75,200 on 18 April |
| Lowest Rate in April | Rs.68,800 per kg on 28 April and 29 April |
| Overall Monthly Performance | Decline |
| Percentage Change | -3.06% |
Trend of Silver Rate in Madhya Pradesh for March 2022 (rates per kg)
| Parameters | Silver Price (per kg) |
| March 1 Rate | Rs.70,000 per kg |
| March 28 Rate | Rs.71,300 per kg |
| Highest Rate in March | Rs.77,600 on 9 March |
| Lowest Rate in March | Rs.70,000 per kg on 1 March |
| Overall Monthly Performance | Incline |
| Percentage Change | 1.85% |
Trend of Silver Rate in Madhya Pradesh for February 2022 (rates per kg)
| Parameters | Silver Price (per kg) |
| 1 February Rate | Rs.65,300 per kg |
| 28 February Rate | Rs.70,100 per kg |
| Highest Rate in February | Rs.70,600 per kg on 24 February |
| Lowest Rate in February | Rs.64,900 per kg on 7 February |
| Overall Monthly Performance | Incline |
| Percentage Change | 7.35% |
Trend of Silver Rate in Madhya Pradesh for January 2022 (rates per kg)
| Parameters | Silver Price (per kg) |
| January 1 Rate | Rs.66,600 per kg |
| January 31 Rate | Rs.65,400 per kg |
| Highest Rate in January | Rs.69,300 per kg on 21 January |
| Lowest Rate in January | Rs.64,300 per kg on 10 January |
| Overall Monthly Performance | Decline |
| Percentage Change | -1.80% |
Trend of Silver Rate in Madhya Pradesh for December 2021 (rates per kg)
| Parameters | Silver Price (per kg) |
| December 1 Rate | Rs.66,300 per kg |
| December 31 Rate | Rs.66,000 per kg |
| Highest Rate in December | Rs.66,300 on 1 December, 28 December, and 29 December |
| Lowest Rate in December | Rs.64,600 per kg on 15 December |
| Overall Monthly Performance | Decline |
| Percentage Change | -0.45% |
Also Check Silver Price in NearBy Cities of Madhya Pradesh
| Silver Rate in Bhopal | Silver Rate In Dewas | Silver Rate in Gwalior | Silver Rate in Indore |
| Silver Rate in Satna | Silver Rate in Sagar | Silver Rate in Ujjain |
Trend of Silver Rate in Madhya Pradesh for November 2021 (rates per kg)
| Parameters | Silver Price (per kg) |
| November 1 Rate | Rs.68,700 per kg |
| November 30 Rate | Rs.66,500 per kg |
| Highest Rate in November | Rs.71,700 on 13 and 14 November |
| Lowest Rate in November | Rs.66,500 per kg on 30 November |
| Overall Monthly Performance | Decline |
| Percentage Change | -3.20% |
Trend of Silver Rate in Madhya Pradesh for October 2021 (rates per kg)
| Parameters | Silver Price (per kg) |
| October 1 Rate | Rs.63,700 per kg |
| October 31 Rate | Rs.68,900 per kg |
| Highest Rate in October | Rs.70,300 on 25 October 2021 |
| Lowest Rate in October | Rs.63,700 per kg on 1 October 2021 |
| Overall Monthly Performance | Incline |
| Percentage Change | 8.16% |
FAQs on Silver Rate in Madhya Pradesh
- Will the silver price keep changing in Madhya Pradesh?
- What are the options through which I can invest in Silver?
- What are the factors that determine the price of silver in Madhya Pradesh?
- Where can I buy silver in Madhya Pradesh?
- What is the best time to purchase silver in Madhya Pradesh?
Yes, the silver price in Madhya Pradesh will keep changing. The silver prices change on the basis of the fluctuations in the market, government tariffs and duties, etc.
You can invest in silver through Silver ETFs of the US Market, by purchasing silver jewellery, silver coins, antiques, through Silver Futures Trading, and so on.
The price of silver is dependent on a number of factors such as the demand and supply of the precious metal, rates of interest, international political conditions, condition of the stock markets, government policies, and so on.
You can visit any reputed jewellery store to purchase silver in Madhya Pradesh. Silver can be purchased in the form of bars, coins, and jewellery. In addition to this, you can also consider visiting the official websites of branded and trusted jewellers and make online purchases for silver.
There is no pre-determined timeframe for buying silver. You can invest in the precious white metal at any time of the year. However, keeping an eye on the market trends and buying when the silver prices are relatively low can be beneficial to you.
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