• Silver Rate in Maharashtra

    Daily Silver Rates
    Date Silver (1 gram) Bar Silver (1 Kg)
    11 Dec 2018 ₹ 40.7 ₹ 40,700
    10 Dec 2018 ₹ 40.3 ₹ 40,300
    09 Dec 2018 ₹ 40.3 ₹ 40,300
    08 Dec 2018 ₹ 40.3 ₹ 40,300
    07 Dec 2018 ₹ 39.6 ₹ 39,600
    06 Dec 2018 ₹ 39.5 ₹ 39,500
    05 Dec 2018 ₹ 39.6 ₹ 39,600
    04 Dec 2018 ₹ 39.6 ₹ 39,600
    03 Dec 2018 ₹ 39 ₹ 39,000
    02 Dec 2018 ₹ 38.5 ₹ 38,500

    *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 Maharashtra

    Maharashtra has a long relationship with silver, with the ports and business centres seeing major exchange of this metal over the centuries. A historic past where kings and queens used silver for trade has imbibed a sense of appreciation for silver. Today, Maharashtra is a hub of commerce, with major cities witnessing great growth, meaning people have higher spending capacity. Silver has traditionally been viewed as a decent investment avenue in Maharashtra, forming an integral part of celebrations and festivals here. In spite of other investment opportunities present to residents of Maharashtra, the benefits and cost effectiveness of silver have ensured it stays close to their hearts.Silver prices in Maharashtra are a reflection of international rates, with costs changing on a regular basis, depending on multiple factors.

    Trend of Silver Rate in Maharashtra for September 2018 (rates per gram)

    Parameters Silver price (per kg)
    September 1 Rate Rs.40,000 per kg
    September 30 Rate Rs.41,200 per kg
    Highest Rate in September Rs.41,200 per kg on 29 and 30 September
    Lowest Rate in September Rs.39,500 per kg on 5, 7, 15-16 September
    Overall Monthly Performance Incline
    Percentage Change 3%

    Trend of Silver Rate in Maharashtra for August 2018 (rates per kg)

    Parameters Silver price (per kg)
    August 1 Rate Rs.41,400 per kg
    August 31 Rate Rs.40,300 per kg
    Highest Rate in August Rs.41,400 per kg on 1 and 9 August
    Lowest Rate in August Rs.39,800 per kg from 24 August
    Overall Monthly Performance Decline
    Percentage Change -2.65%

    August 2018 - Week 1 (1 - 05):

    • Week 1 began with silver being priced at Rs.41,400 per kg. Which was also the highest it had been priced for the month.
    • Domestic demand for the metal then declined causing the price of the metal to dip as well. On 2 August, the metal plummeted by Rs.200 and was recorded at Rs.41,100 per kg.
    • Week 1 ended with silver trading at Rs.41,300 per kg. Increased demand for the metal was recorded during this time.

    August 2018 - Week 2 (6 - 12):

    • In the beginning of week 2, the demand for the metal declined, but didn’t have an affect on its price. The silver price in Maharashtra was recorded at Rs.41,300 per kg.
    • The dollar declined in correspondence to other currencies causing the price of silver on 9 August to rise to Rs.41,400 per kg. However, this increment in price did not last long as the metal dropped in value to Rs.41,100 per kg on 10 August due to diminished demand from local industries.
    • Silver in Maharashtra stood at Rs.41,200 per kg on the last day of week 2.

    August 2018 - Week 3 (13 - 19):

    • The price of silver in the state remained unchanged at the start of week 3. The price point of the metal was still recorded at Rs.41,200.
    • Silver then experienced a dramatic drop in its value on 14 August when it was trading Rs.40,900.
    • Week 3 ended with silver trading at Rs.40,000 per kg.

    August 2018 - Week 4 (20 - 26):

    • Week 4 began with silver price in Maharashtra being recorded at Rs.40,000 per kg.
    • Domestic demand for the metal dropped, thereby adversely affecting the price of silver. On 24 August, silver dipped to Rs.39,800 per kg.
    • At the end of the week, silver in Maharashtra rose to Rs.40,200 per kg.

    August 2018 - Week 5 (27 - 31):

    • On 27 August, silver in Maharashtra was recorded to trade at Rs.40,200 per kg.
    • Domestic demand for the metal during the course of the week caused its price to increase.
    • The silver price in Maharashtra for the month of August recorded a declining trend of -2.65% as it stood at Rs.40,300 per kg to end week 5.

    Trend of Silver Rate in Maharashtra for July 2018 (rates per kg)

    Parameters Silver price (per kg)
    July 1 Rate Rs.42,800 per kg
    July 31 Rate Rs.41,400 per kg
    Highest Rate in July Rs.42,900 per kg on 9 and 10 July
    Lowest Rate in July Rs.41,200 per kg on 28 and 29 July
    Overall Monthly Performance Decline
    Percentage Change -3.27%

    July 2018- Week 1 (1-10)

    • Silver opened at Rs.42,800 per kg on 1 July 2018 in Maharashtra.
    • Demand for the metal from industrial units and local merchants fell on 3 July 2018 due to which silver rates fell by Rs.400 per kg and traded at Rs.42,400 per kg.
    • However, as demand for the metal picked up, silver prices rose and hit Rs.42,800 per kg mid-week.
    • On 9 and 10 July, silver rates in Maharashtra rose to Rs.42,900 per kg and recorded the highest rate of the month. The increase in silver prices was because of the high intake of the metal.
    • Positive market trends clubbed with declining US dollar rates over other currencies led silver rates to rise in the first week of July in Maharashtra.

    July 2018- Week 2 (11-17)

    • Unlike the first week, silver rates fell continuously in the second week in Maharashtra.
    • Silver opened at Rs.42,600 per kg on 11 July 2018.
    • Silver rates fell by Rs.300 per kg on the first day of the week due to poor demand.
    • As the industrial demand for silver fell further, the price of the metal from 12 - 14 July stood at roughly Rs.42,200 per kg.
    • However, due to steady demand from industrial units, silver rates in Maharashtra increased by Rs.100 per kg and stood at Rs.42,300 per kg on 16 July 2018.
    • Silver prices increased towards the end of the week and stood at Rs.42,100 per kg on 17 July.

    July 2018- Week 3 (18 - 24)

    • Silver rates stood at Rs.41,700 per kg on 18 July in Maharashtra. Silver rates fell by Rs.400 per kg on the first day of the week due to muted demand from merchants.
    • Though demand played a crucial role in determining silver prices throughout the week in Maharashtra, the rise in US dollar value caused silver rates to fall this week.
    • On 20 July, due to the rise in US dollar value, silver prices fell further to Rs.41,300 per kg.
    • In the following days, the demand for the metal picked up and silver traded at Rs.41,700 per kg from 21 - 22 July.
    • The price of the metal declined towards the end of the week in Maharashtra and closed at Rs.41,400 per kg on 24 July.

    July 2018- Week 4 (25 - 31)

    • On 25 July, poor industrial demand for the metal caused the price of silver to drop to Rs.41,500 per kg.
    • On 26 July, silver prices rose by Rs.300 per kg as the value of the US dollar declined and traded at Rs.41,800 per kg.
    • However, demand for the metal dropped which naturally caused the decline in silver prices over the next few days.
    • The lowest silver rate for the month in Maharashtra was recorded on 28 and 29 July when the price of silver stood at Rs.41,200 per kg.
    • By the end of the month, the price of silver increased as US dollar rates dropped slightly. The metal stood at Rs.41,400 per kg on 30 - 31 July.
    • Overall, silver prices for the month of July in Maharashtra saw a downward curve as the prices throughout the month fell by 3.27%.

    Trend of Silver Rate in Maharashtra for June 2018 (rates per kg)

    Parameters Silver price (per kg)
    June 1 Rate Rs.42,800 per kg
    June 30 Rate Rs.42,800 per kg
    Highest Rate in June Rs.45,000 per kg on 15 June
    Lowest Rate in June Rs.42,600 per kg from 2 to 5 June
    Overall Monthly Performance Steady
    Percentage Change 0.00%

    June 2018 - Week 1 (1 - 10):

    • Silver was priced at Rs.42,800 per kg when trading started for the month of June in Maharashtra.
    • The US dollar seemed to be on a inclining path against other currencies. This caused silver rates to drop to Rs.42,600 per kg on the 2nd of June.
    • As demand was low among the local markets, silver rates remained at Rs.42,600 per kg till the 5th in most regions of Maharashtra.
    • After the news about a weakened dollar hit the market, silver rates in Maharashtra went up to Rs.43,900 per kg on the 6th.
    • This rate then went down to Rs.43,800 per kg the next day as demand slowed down slightly ahead of a varying cues.
    • The sudden rise was due to the failure of the G7 summit, which highlighted the discord between the US and the other participating nations.
    • When the first week of June came to an end, silver was priced at Rs.43,700 per kg.

    June 2018 - Week 2 (11 - 17):

    • When the second week’s trading began, silver prices had risen to Rs.43,900 per kg.
    • The US dollar was on the rise and the equity markets were bullish, silver, however, withstood the pressure from both, and instead traded at Rs.44,000 pe kg on the 12th of June.
    • The US- North Korea summit, which went ahead as planned despite multiple hurdles, helped improve the dollar. This caused silver rates to drop to Rs.43,900 per kg on the 13th.
    • However, the prospect of a trade war between the US and China caused demand to rise and silver prices went up to Rs.45,000 per kg on the 15th due to this.
    • The week ended on the 17th with silver prices falling to Rs.44,300 per kg as the high demand seen on the previous day was unsustainable in the long run.

    June 2018 - Week 3 (18 - 24):

    • The US dollar, which fell significantly the previous week, showed signs of recovery during this week’s trading.
    • Silver prices in Maharashtra went down to Rs.43,400 per kg to record a massive Rs.900 drop in just a day’s session.
    • As demand went up slightly, silver rates rose to Rs.43,500 per kg on the 19th before going down to Rs.43,100 per kg on the 20th.
    • The 21st saw silver rates drop again - to Rs.43,000 per kg - as demand continued to fall after the dollar recovered quickly.
    • From the 22nd to the 24th, silver continued to trade at Rs.42,900 per kg as there was a sustained demand for the metal.

    June 2018 - Week 4 (25 - 30):

    • Silver prices dipped consistently over the course of this week due to poor demand across the country.
    • When the week began, the white metal was priced at Rs.43,200 per kg - a Rs.300 incline from the previous day’s rates.
    • On the 26th, rates went down to Rs.43,100 per kg and then to Rs.43,000 per kg the subsequent day.
    • As the US dollar continued to strengthen, silver prices dropped to Rs.42,800 per kg on the 28th of the month.
    • When the week and month ended, silver was priced at Rs.42,800 per kg and, despite fluctuations, there was no change in price trends this month.

    Trend of Silver Rate in Maharashtra for May 2018 (rates per kg of silver)

    Parameters

    Silver price (per kg)

    May 1 Rate

    Rs.42,000 per kg

    May 31 Rate

    Rs.43,100 per kg

    Highest Rate in May

    Rs.43,800 per kg on 25 May

    Lowest Rate in May

    Rs.42,000 per kg on 1 May

    Overall Monthly Performance

    Incline

    Percentage Change

    2.61%

    May 2018 - Week 1 (1st - 6th):

    • Silver was priced at Rs.42,000 per kg when trading started for the month of May - a considerably strong price compared to the previous day’s rates.
    • Due to a steady rise in demand, silver rate in Maharashtra went up to Rs.42,600 per kg on the 3rd of May. This rise in purchases was due to the US-China trade war concerns.
    • The, then ongoing, hot and cold talks between North Korea and the US also helped with the price increase.
    • After the US dollar regained some of its lustre, the white meta’s prices decreased. On the final day of this week, silver was seen trading at Rs.42,600 per kg.

    May 2018 - Week 2 (7th - 13th):

    • This week saw silver price in Maharashtra drop during the initial days before increasing as the days progressed.
    • On the 7th of May, the white metal was priced at Rs.43,200 per kg as there was a steady demand for the metal in the market.
    • However, rates went down to Rs.43,000 per kg after the US dollar started on a upward path and gained against various world currencies.
    • Silver rate in Maharashtra also recorded a slight rise with the metal trading at Rs.43,100 per kg on the 9th and then at Rs.43,300 per kg on the subsequent day.
    • With local demand, particularly from jewellers and industries increasing, silver rates in Maharashtra went further up to Rs.43,500 per kg on the 11th.
    • For the remaining two days of this week, the white metal continued to trade at Rs.43,500 per kg.

    May 2018 - Week 3 (14th - 20th):

    • Third week’s trading started with silver opening at Rs.43,600 per kg on the 14th as there was speculations regarding the North Korea-US summit.
    • On the 15th, the white metal was priced at Rs.43,300 per kg which then dropped to Rs.43,000 per kg as demand weakened locally amidst poor global cues.
    • Silver price in Maharashtra went up to Rs.43,200 per kg on the 17th - a brief rise - before falling back to Rs.43,000 per kg on the 18th as the US dollar rose against other currencies.
    • On the final day of this week, the metal was priced at Rs.43,100 per kg as there was a low yet steady demand in the local market.

    May 2018 - Week 4 (21st - 27th):

    • This week saw silver price in Maharashtra rise steadily as demand surged ahead of strong global cues.
    • On the 21st of May, the white metal was priced at Rs.43,100 per kg. As tensions rose in key regions in Europe and the Middle East, demand for safe haven assets also increased.
    • The 23rd saw silver trade at Rs.43,500 per kg before dropping by Rs.200 to Rs.43,300 per kg on the 24th of May.
    • For the remaining few days of the week, silver rate in Maharashtra remained steady and the metal was seen trading at Rs.43,600 per kg at the time of closing.

    May 2018 - Week 5 (28th - 31st):

    • The final week of May saw silver opening at Rs.43,000 per kg - a Rs.600 decline from the previous day’s rates.
    • This rose slightly to Rs.43,100 per kg on the 29th as demand also decline ahead of increased buying from the local market.
    • After US President Donald Trump confirmed that the cancelled summit with go ahead as planned, silver rates in Maharashtra dropped further to Rs.42,900 per kg.
    • A surge in demand, though, helped silver close on a slightly high note of Rs.43,100 per kg. Price trends recorded a 2.31% increase this month, thanks to strong demand from the domestic market.

    Trend of Silver Rate in Maharashtra 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%

    April 2018 - Week 1 (1st - 7th):

    • Trading opened in Maharashtra with silver priced at Rs.41,400 per kg on the 1st amid positive market trends coupled with steady domestic demand.
    • Interest for the metal improved as investors banked on safe-haven assets such as the bullion after the US import tariffs were raised by the the US President.
    • Rates rose to Rs.41,600 per kg on the 3rd before plunging to Rs.41,300 per kg the next day as the dollar recovered from its initial shock.
    • The 5th saw silver price in Maharashtra plummeting to its lowest recorded monthly figure of Rs.41,000 per kg following a decline in industrial offtake for the metal.
    • The week came to an end with the white metal prices holding at Rs.41,200 per kg on the 7th with local demand from industries and coin makers picking up.

    April 2018 - Week 2 (8th - 15th):

    • The week began with silver trading at Rs.41,200 per kg on the 8th before rising to Rs.41,300 per kg amid firm overseas trends.
    • An increase in global demand brought about by the weakened US dollar led to silver rate in Maharashtra surging to Rs.41,700 per kg on the 11th.
    • The 12th saw silver price in Maharashtra surging further to Rs.42,000 per kg with the bullion market capitalising on the losing greenback and equity markets.
    • The dollar, however, gained against a basket of other emerging currencies and silver was recorded trading at Rs.41,600 per kg the following day.
    • The US-led attacks on Syria resulted in investors gravitating towards assets considered safer such as the bullion towards the end of the week.
    • The week concluded with the industrial metal prices holding at Rs.41,900 per kg on the 15th with steady domestic demand for the metal.

    April 2018 - Week 3 (16th - 22nd):

    • When trading commenced for the third week, silver rate in Maharashtra were recorded holding at Rs.42,100 per kg on the 16th with domestic markets tracking a firm trend overseas.
    • With tensions rising between North Korea and the US, demand for the metal improved over the next couple of days.
    • The losing greenback coupled with the poorly performing equity markets led to silver prices surging to Rs.43,700 per kg on the 19th.
    • The 20th witnessed rates surging further to Rs.43,800 per kg as the US dollar lost ground with the dollar index losing against other apex currencies at the global level.
    • The rest of the week saw the white metal prices remaining untouched at Rs.43,800 per kg with steady demand from industries and coin makers amid the positive trend overseas.

    April 2018 - Week 4 (23rd - 30th):

    • When trading commenced for the last week, silver was recorded trading slightly lower at Rs.43,700 per kg on the 23rd, which plunged to Rs.43,000 per kg on the 24th with the US dollar regaining lost ground.
    • The week saw global demand declining with poor markets trends affecting investor interest for the metal, pushing prices lower at the domestic level.
    • Though prices rose to Rs.43,100 per kg on the 25th, rates plummeted again to Rs.43,000 per kg on the 26th with reduced local demand amid the strong US greenback.
    • Poor global cues coupled with declining domestic demand from industrial units and coin manufacturers led to silver rates dropping to Rs.42,800 per kg on the 27th.
    • Prices remained untouched at Rs.42,800 per kg the next day on account of subdued but steady demand from the local markets.
    • The month came to an end with the industrial metal priced at Rs.42,300 per kg on the 30th owing to the strong dollar rates that resulted in reduced domestic demand for the metal.
    • Silver prices in Maharashtra rose by 2.17% due to the rising geopolitical tensions that pushed investor demand higher during the month.

    Trend of Silver Rate in Maharashtra 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%

    March 2018 - Week 1 (1st - 4th):

    • Silver was priced at Rs.41,100 per kg when March’s trading commenced in Maharashtra.
    • This month saw silver price in Maharashtra fluctuate constantly due to various factors such as the latest Fed meeting and the trade war that was almost started by the US President Donald Trump.
    • On the 2nd, silver was priced at Rs.41,400 per kg before selling at Rs.41,600 per kg on the next day.
    • The week drew to a close with the metal still trading at Rs.41,600 per kg.

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

    • When the second week’s trading opened in Maharashtra, silver was priced at Rs.41,700 per kg before going down to Rs.41,400 per kg the next day.
    • On the 7th, silver rate in Maharashtra surged to Rs.41,900 per kg due to an increased demand. This was also the highest silver rate for the month.
    • The US dollar seemed to be on the rise which caused the precious metal’s rates to drop over the next few days.
    • Over the 8th and 9th, silver was priced at Rs.41,500 per kg and Rs.41,300 per kg respectively.
    • A slight change in demand helped silver price in Maharashtra rise up to Rs.41,600 per kg on the 11th of March.

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

    • The third week began in Maharashtra with silver trading at Rs.41,600 per kg, which rose and fell over the next few days due to poor demand.
    • On the 13th, silver rate in Maharashtra went up to Rs.41,700 per kg after the US President fired his Secretary of State.
    • Rates dropped over the next few days first to Rs.43,500 per kg and then to Rs.43,300 per kg on the 16th due to weak demand.
    • Silver price in Maharashtra had fallen further to Rs.41,100 per kg on the final day of the week as demand failed to pick up.

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

    • This week saw silver trade at its lowest, due to a weak local demand from industries and coin makers.
    • On the 19th, the metal traded at Rs.41,000 per kg - the month’s lowest before rising to Rs.41,200 per kg on the 20th.
    • Due to a slowdown in demand, silver rate in Maharashtra went back down to Rs.41,000 per kg on the 21st before a rise in sales pushed them up to Rs.41,500 per kg by the 23rd.
    • The week ended with silver trading at Rs.41,600 per kg.

    March 2018 - Week 5 (26th - 31st):

    • The final week of March opened with silver trading at Rs.41,600 per kg, which went up to Rs.41,800 per kg on the 27th as demand from industries and coin makers rose, owing to a weak dollar and positive cues.
    • Silver rate in Maharashtra fell to Rs.41,500 per kg on the subsequent day as demand slowed down. This further dropped to Rs.41,400 per kg on the final day of the month.
    • This month’s trading recorded a 0.72% change in prices, which was made possible by steady local demand.

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

    Silver rates in Maharashtra have been on a roller coaster ride since the start of this year. Prices peaked during May, with drops witnessed in March, July and December. The year started with 1 kg silver costing around Rs 36,000, with prices steadily climbing up during the month. The prices jumped to over Rs 40,000 towards the third week, before dropping in February, falling below the Rs 36,000 mark in March. 1 kg silver could be purchased for as low as Rs 35,228 in March. Prices rose towards the end of March but fell again in April. May witnessed a steep rise in prices, when 1 kg of silver cost Rs 43,300. Prices gradually fell in the next few months, dropping to as low as Rs 35,800 in August, before picking up again. October saw a brief moment when prices went over the Rs 40,000 barrier, before falling to their current rate. A kg of silver could set you back by Rs 35,384 today (December 15, 2015).

    Silver as an investment

    Silver is considered a safe investment option in Maharashtra, primarily on account of its affordability and cultural significance. Most households consider owning silver auspicious, with it forming an integral part of weddings and celebrations. With silver costing less than gold, it provides an investment opportunity to investors with moderate resources, helping them build a portfolio. Individuals who wish to invest in silver can do so in different ways, with physical silver and silver contracts being the two popular investment modes in Maharashtra.

    Physical Silver – Buying silver in its physical form continues to be the mainstay for most investors. Silver can be purchased either in the form of coins or jewellery, with banks and jewellers across the state offering products for multiple budgets. Silver ornaments like chains, anklets, amulets and rings serve a dual purpose, acting as an investment and an accessory. Silver statues of gods and goddesses are also popular in Maharashtra, with their demand peaking during festivals and religious processions. Silver coins can be purchased from both banks and jewellers, with the ones purchased from banks costing slightly more on account of quality checks and purity certificates.

    Silver contracts – One can purchase silver through the markets, with silver being traded in the National Multi Commodity Exchange, National Commodity and Derivatives Exchange and the Multi Commodity Exchange. Typically, this is suited for individuals who wish to purchase silver in bulk, with the minimum trading limit set at 1 kg in most cases. This can be a good option for investors who are well aware of the markets and wish to make quick profits.

    Also Check Silver Price in NearBy Cities of Maharashtra

    Silver Rate in Mumbai Silver Rate in Pune
    Silver Rate in Nagpur Silver Rate in Kolhapur

    Read more on Silver

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