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Silver Price in Mangalore
Silver is one of the sought-after precious metals in Mangalore owing to several reasons including many locals viewing it as a form of traditional investment widely used in the form of gifts during weddings, festivals, temple jewellery, pujas and other auspicious occasions. Silver is bought by people from all age groups for a variety of uses. For most consumers in Mangalore, silver is a time-tested and accessible precious metal which can be an effective hedge against inflation. Significantly, silver is used in most traditional and authentic silk sarees as well. Consequently, the price of the silver has a bearing on the price of the silk sarees courtesy the intricate and more often than not, extensive zari work which it entails. The price of the precious metal, therefore, results in a rise in the price of silk sarees as well.
Trend of Silver Rate in Mangalore for March 2017 (rates per kg)
|March 1st Rate||Rs.43,900 per kilogram|
|March 31st Rate||Rs.42,100 per kilogram|
|Highest Rate in March||Rs.44,000 per kilogram on March 2nd|
|Lowest Rate in March||Rs.40,300 per kilogram on March 15th|
March ‘17 - Week 1 (1st to 5th)
- Silver opened the trading for March at Rs.43,900 per kilogram.
- On the 2nd of March Silver saw a monthly high of Rs.44,000 per kilogram.
- An expected US Federal Interest Rate hike lead to a stronger dollar, which, in turn, lead to the price of Silver falling to Rs.42,700 per kilogram.
- A steady increase in industrial demand cause silver to recover to Rs.43,300 per kilogram to close the first week of trading.
March ‘17 - Week 2 (6th to 12th)
- Silver opened the second week of trading at Rs.42,800 per kilogram.
- A decline in demand saw the precious metal fall to Rs.42,100 per kilogram on March 8th.
- A stronger US Dollar caused the price of Silver to further slip to Rs.41,500 per kilogram on March 9th and March 10th.
- A decline in demand from coin makers and industry caused Silver to drop to Rs.41,200 per kilogram to close the week’s trading.
March ’17- Week 3 (13th to 19th)
- Silver opened the third week of trading at a sustained Rs.41,200 per kilogram.
- On March 15th, in light of an expected US Federal Interest Rate hike, silver fell to a monthly low of Rs.40,300 per kilogram.
- A boost in demand from industry and coin makers saw Silver recover to Rs.41,200 per kilogram on March 16th.
- A slight drop in demand from coin makers saw Silver slip to Rs.40,900 per kilogram to close the week’s trading.
March ’17- Weeks 4 (20th to 26th)
- Silver started the fourth week of trading at Rs.41,100 per kilogram.
- A drop in industrial demand saw silver slip to Rs.40,800 per kilogram on March 21st.
- An increase in demand from coin makers saw Silver climb to Rs.41,300 per kilogram on March 24th.
- Sustained industrial demand for silver saw it climb to Rs.41,700 per kilogram on March 25th, this was sustained till the end of the week.
March ’17- Weeks 5 (27th to 31st)
- Silver remained steady at Rs.41,700 per kilogram to open the fifth week of trading.
- On March 28th, due to healthy demand from industry and coin makers, Silver prices climbed to Rs.42,100 per kilogram which was sustained till the end of the month.
|February 1st Rate||Rs. 41,500 per kg|
|February 28th Rate||Rs. 43,900 per kg|
|Highest Rate in February||Rs. 43,900 per kg on 28th February|
|Lowest Rate in February||Rs. 41,500 per kg from 1st to 7th February|
February ‘17 - Week 1 (1st to 5th)
- Silver prices in Mangalore remained stable over the course of the first five days of February demand was sustained.
- The price of the metal was recorded at Rs.41,500 per kg on the 1st of February and remained unchanged until the end of the week thanks to demand from coin makers and industrialists.
- The aforementioned rate was also the lowest in the entire month of February.
February ‘17 - Week 2 (6th to 12th)
- The price of silver on the opening day of the second week of February was Rs.41,500 – the same as the price on the closing rate of the first week of the month.
- Prices remained stable on the 7th as well, with no change being recorded yet in the month.
- On the 8th of the month, silver prices increased by Rs.1200 thanks to enhanced demand from industrialists and jewellers, and stood at Rs.42,700 per kg until the 9th of February owing to steady demand.
- Demand declined slightly on the 10th of February, due to which prices fell by Rs.300 and the metal was seen trading at Rs.42,400 per kg.
- On the 11th of February, prices increased by Rs.600 and silver traded at Rs.43,000 per kg thanks to a sudden increase in demand.
- Demand was sustained on the 12th of February as well as prices remained stable and the metal closed the second week of the month at Rs.43,000 per kg.
February ’17- Week 3 (13th to 19th)
- A minor fluctuation in the value of the U.S. dollar resulted in an increase in the demand for silver with prices rising marginally to Rs.43,200 per kg on the first day of the third week of February.
- A slight decrease by Rs.200 on the 14th of February saw silver prices drop to their previous levels of Rs.43,000 per kg, and there was no change in price for another day due to stable demand.
- An increase by Rs.300 saw silver prices in Mangalore increase to Rs.43,300 per kg on the 16th of the month, after which another incline saw them rise to Rs.43,400 per kg on the 17th.
- Silver prices increased by Rs.100 on the 18th of the month and traded at Rs.43,500 per kg on the 19th as well, and closed the third week of February at the same rate.
February ’17- Weeks 4 & 5 (20th to 28th)
- The price of silver in the last two weeks of February fluctuated marginally owing to an uncertain market and changes in the value of the US Dollar in addition to unstable demand.
- Silver opened the last two weeks of the month at Rs.43,200 per kg, marking a decline by Rs.100 from the closing levels of the previous week.
- Rates fell by Rs.100 on the 22nd of the month to trade at Rs.43,200 per kg and they remained unchanged on the 23rd as well.
- A minor increase in demand from coin makers led to silver trading at Rs.43,400 per kg on 24th February.
- Silver prices remained unchanged until the 26th of February thanks to stable demand from industrialists and jewellers.
- Silver rates continued to increase as the month came to a close, trading at Rs.43,800 on the 27th before increasing by Rs.100 to Rs.43,900 per kg on the last day of the month, thereby recording an overall increase of 5.78% between the first and last day of February.
- The price of the metal on the last day of the month was also the highest at which silver traded during the month of February.
|January 1st Rate||Rs.39,600 per kg|
|January 31st Rate||Rs.41,500 per kg|
|Highest Rate in January||Rs.41,700 per kg on 23rd January|
|Lowest Rate in January||Rs.39,200 per kg on 2nd January|
January ‘17 - Week 1 (1st to 7th)
- The price of silver in Mangalore rose in the first week of January as industrial demand increased.
- Silver was priced at Rs.39,600 per kg on 1st January, with a minor drop seen on 2nd January, when prices dipped to Rs.39,200 per kg.
- An increase in domestic demand led to silver trading at Rs.39,900 per kg on 4th January.
- Prices continued to rise, trading at Rs.40,300 on 5th January, remaining constant till the end of the week on 7th January as demand was steady for the subsequent days.
- Silver prices rose by Rs.700 per kg during the week due to increased industrial demand.
January ‘17 - Week 2 (8th to 14th)
- Prices were stable towards the beginning of the second week, as demand stagnated.
- Silver was priced at Rs.40,300 per kg on 8th January, rising to Rs.40,500 per kg on 10th January as markets fluctuated, thereby increasing demand for bullion.
- Prices rose to Rs.41,020 per kg on 11th January as local demand also rose, resulting in prices reaching Rs.41,200 per kg on 12th January.
- A slight dip in demand led to silver ending the week trading at Rs.40,700 per kg on 14th January, recording an increase in price of Rs.400 per kg.
January ’17- Week 3 (15th to 21st)
- Silver prices in the third week rose as the week began but dipped towards the end of the week due to a dip in industrial demand.
- Silver traded at Rs.40,700 per kg on 15th January, rising to Rs.41,200 per kg on 17th January on strengthening demand.
- Prices were constant before rising to Rs.41,500 per kg on 18th January as markets were volatile, resulting in higher demand from investors.
- Silver prices fell as the week ended, trading at Rs.41,100 per kg on 21st January due to a dip in overseas demand, recording a weekly increase in price of Rs.400 per kg.
January ’17- Weeks 4 & 5 (22nd to 31st)
- Prices rose marginally in the last two weeks of February, as fluctuating markets impacted demand for silver.
- Silver traded at Rs.41,100 per kg on 22nd January, rising to Rs.41,700 per kg on 23rd January on high demand from Asia.
- Prices dropped in the subsequent days, trading at Rs.41,400 per kg on 25th January due to a sudden rise in markets pushing demand low.
- Prices fell to Rs.40,500 per kg on 28th January due to a sustained drop in demand.
- Prices recovered as the month ended, trading at Rs.41,500 per kg on 31st January to register a 4.79% increase in price over the month.
|December 1st Rate||Rs.41,100 per kg|
|December 31st Rate||Rs.39,600 per kg|
|Highest Rate in December||Rs.41,100 per kg on 1st,5th, 6th & 9th December|
|Lowest Rate in December||Rs.38,500 per kg on 26th December|
December '16 - Week 1 (1st to 4th)
- Silver prices in Mangalore fluctuated in the first week of December due to demand fluctuations. Industrial demand was inconsistent, which led to the changes in price.
- The U.S. Dollar also made slight gains on news of a Fed rate hike, which lowered retail demand.
- Silver was priced at Rs.41,100 per kg on 1st December, with the price falling to Rs.40,500 per kg on 2nd December, staying constant till the end of the week.
December '16 - Week 2 (5th to 11th)
- Prices rose to Rs.41,100 per kg on 5th December as the second week began, as silver traded high on strong industrial demand.
- Silver fell as markets recovered, trading at Rs.40,700 per kg on 7th December before rising to Rs.41,100 per kg on 9th December.
- Emerging retail demand helped keep prices stable as the week ended, as overseas demand began to fall due to stronger markets.
- Silver ended the week trading at Rs.41,000 per kg on 11th December.
December '16 - Week 3 (12th to 18th)
- Silver prices were constant at the start of the third week due to stagnating demand.
- Silver traded at Rs.41,000 per kg on 12th December, with the price remaining unchanged till 14th December.
- Prices dipped during the week as a resurgent U.S. Dollar led to reduced demand for bullion.
- Domestic markets also saw a dip in demand for silver due to greater scrutiny of bullion purchases after demonetisation.
- Prices dipped to Rs.39,000 per kg on 18th December due to declining demand.
December '16 – Week 4 (19th to 25th)
- Prices continued to dip as stock markets enjoyed a bullish run due to festive shopping before Christmas.
- Silver traded at Rs.39,500 per kg on 19th December but prices soon dropped due to poor demand.
- Industrial demand also slumped as global currencies strengthened due to higher trading volumes, resulting in silver demand dipping.
- Prices stayed constant as the week ended, with silver trading at Rs.39,000 per kg on 25th December.
December '16 – Week 5 (26th to 31st)
- Silver prices fell to their lowest rate for the month, trading at Rs.38,500 per kg on 26th December as demand dropped due to industrial orders from Asia slowing down.
- The possibility of a U.S. Fed rate hike looked extremely unlikely, which led to the U.S. Dollar dropping, raising silver demand marginally.
- Prices rose to Rs.39,400 per kg on 28th December as industrial demand increased.
- Silver traded at Rs.39,900 per kg on 30th December before falling to Rs.39,600 per kg on 31st December, recording an overall loss of 3.64%.
|November 1st Rate||Rs.42,600 per kg|
|November 30th Rate||Rs.41,100 per kg|
|Highest Rate in November||Rs.45,000 on 12th & 13th November|
|Lowest Rate in November||Rs.40,200 per kg on 25th November|
November '16 - Week 1 (1st to 6th)
- Silver prices in Mangalore were relatively high as demand was strong due to the festive season.
- Silver was priced at Rs.42,600 per kg on 1st November as the weak U.S. Dollar led to higher volumes of trade in silver.
- The U.S. elections and uncertainty regarding the result led to markets being unstable, leading investors to invest in metals.
- Silver traded at Rs.43,500 per kg on 6th November as prices rose due to strong demand.
November '16 - Week 2 (7th to 13th)
- Silver prices rose as markets collapsed following the U.S. election results and the demonetisation policy.
- Silver traded at Rs.43,500 per kg on 7th November, with prices staying steady as markets tumbled on the news of Donald Trump’s surprise victory.
- The announcement of the demonetisation of Rs.1,000 and Rs.500 notes led to a market free fall, further strengthening silver demand.
- Silver reached its monthly high of Rs.45,000 per kg on 13th November on strong demand from jewellers as well as the prevailing market conditions.
- Silver traded at Rs.42,000 per kg on 12th November.
November '16 - Week 3 (14th to 20th)
- The effects of demonetisation and the resultant shortage of cash led to a drop in silver demand from the retail sector.
- Silver traded at Rs.44,000 per kg on 14th November but prices soon began to fall as markets recovered.
- The shortage of legal tender also plagued investors, who put off silver purchases, leading to a lowering of demand.
- Silver traded at Rs.40,600 per kg on 20th November, marking a sharp decline in price.
November '16 - Week 4 and 5 (21st to 30th)
- Prices in the last two weeks showed a downward slide as silver failed to recoup.
- Silver was priced at Rs.41,100 per kg on 21st November amidst a lowering of demand due to recovering markets and a stronger U.S. Dollar.
- The continued shortage of cash led to jewellers reducing silver orders in spite of it being the festive season.
- A greater scrutiny of bullion purchases also put investors off buying silver.
- Silver ended the month at Rs.41,100 per kg on 30th November.
|October 1st Rate||Rs.45,500 per kg|
|October 31st Rate||Rs.42,600 per kg|
|Highest Rate in October||Rs.45,500 per kg from 1st-3rd October|
|Lowest Rate in October||Rs.41,700 per kg on 8th and 9th October|
October ’16- Weeks 1 & 2 (1st-9th)
- Silver price in Mangalore was Rs.45,500 per kg on 1st October as demand was high as industrial demand was on par with the previous month.
- A decline in price was observed due to demand lessening as the markets recovered.
- Industrial output was muted as strengthening markets led to demand decreasing.
- Silver traded at Rs.41,700 per kg on 9th October.
October ’16- Week 3 (10th-16th)
- Silver prices stayed more or less constant during the week as demand was stable.
- Silver was priced at Rs.42,000 per kg on 10th October, with slight fluctuations during the week.
- An increase in demand as a result of the upcoming festival season led to higher domestic demand from jewellers.
- Silver closed the week at Rs.42,100 on 16th October, an increase of Rs.100 per kg from the price at the beginning of the week.
October ’16- Week 4 (17th-23rd)
- Demand for silver continued to be stable at the start of the week, trading at Rs.42,100 per kg on 17th October.
- Prices rose marginally as demand from the overseas markets improved, though prices fell slightly as towards the end of the week.
- Domestic demand was muted during the week, resulting in priced remaining stagnant.
- Silver traded at Rs.42,100 per kg, showing no change in price.
October ’16- Week 5 (24th-31st)
- Silver prices rose fractionally in the last week as demand was bolstered by weakening markets and a declining U.S. Dollar.
- Silver traded at Rs.42,100 per kg on 24th October as domestic demand was muted due to a reduction in retail demand.
- Overseas trends kept prices afloat in spite of weakening domestic demand.
- Silver was priced at Rs.42,600 per kg on 31st October, an increase of Rs.500 per kg from the price at the start of the week.
|1st Day||Rs.44,300 per kilogram|
|Last Day||Rs.45,500 per kilogram|
|Highest Price||Rs.46,600 per kilogram on 9th September|
|Lowest Price||Rs.44,200 per kilogram on 2nd September|
September '16 - Week 1 (1st to 4th)
- Silver opened the month at Rs.44,300 per kilogram.
- On 2nd September, silver fell to Rs.44,200 per kilogram, which was recorded to be the lowest in this month.
- As domestic demand increased due to the festive season, silver rates went up.
- The possibility of a Fed rate hike was put to rest due to slow economic data in the global market.
- Silver climbed to Rs.45,300 per kilogram on 3rd and 4th September.
September '16 - Week 2 (5th to 11th)
- Silver continued to climb in week 2 with the upward global market trend.
- Silver closed at Rs.46,600 per kilogram on 9th September which was the highest rate for this month.
- The week ended with silver falling to Rs.45,600 per kilogram as the prospects of a Fed rate hike loomed above the market.
September '16 - Week 3 (12th to 18th)
- Silver rates remained relatively constant throughout this week.
- Silver prices were recorded at Rs. 45,600 per kilogram till 15th September and dropped to Rs.45,100 per kilogram on 16th September.
- Hawkish comments from the U.S. Federal Reserve indicated that a rate hike could be expected soon.
- Demand dropped by the end of the week as silver traders were disinterest in investing in the market.
September '16 - Week 4 (19th to 25th)
- Silver was recorded Rs.45,100 per kilogram on the 19th of September but rates soon climbed to Rs.45,600 per kilogram.
- The price rise could be due to the bullish tendency in the overseas market.
- The Fed rate hike was put on hold as the U.S. presidential elections were approaching.
- Silver rose to Rs.46,200 per kilogram by 25th September.
- Industrial offtake was strong in the domestic market.
September '16 - Week 5 (26th to 30th)
- Silver maintained its price Rs.46,200 per kilogram from 26th to 29th September.
- A bearish atmosphere in the global market led to prices going down to Rs.45,500 per kilogram on 30th September.
- Reduced demand from industrialists and coin markers also resulted in declining silver prices.
|1st August||Rs.48,100 per kg|
|31st August||Rs.44,600 per kg|
|Highest Price||Rs.48,400 per kg on 3rd August|
|Lowest Price||Rs.44,200 per kg from 26th to 29th August|
August '16 – Weeks 1 (1st to 7th)
- Silver prices were strong at the start of the month, trading at Rs.48,100 per kilogram on 1st August and climbing to Rs.48,400 by 3rd.
- Lack of demand in the domestic market led to a slight dip in prices.
- By the end of the week, silver rates had dropped to Rs.47,200.
August '16– Week 2 (8th to 14th)
- Prices of silver continued to fall. Silver traded at Rs.46,500 per kilogram on 8th August.
- With a slight increase in the offtake by industrialists, prices rose to Rs.47,100 per kilogram midweek.
- Positive economic data from the U.S. boosted the dollar which led to a drop in the prices of silver.
August '16– Week 3 (15th to 21st)
- The week opened with silver trading at Rs.46,700 per kilogram on 15th to 17th August.
- Rates were stable on account of sustained demand flowing in from jewellers, coin makers and industrialists in the domestic market.
- Prices dropped at a slow pace as demand reduced and global trends were weak.
- With positive economic data flowing in from the U.S., the anticipated rate hike by the Federal Reserve seems to be coming closer.
- Silver dropped to Rs.46,000 per kilogram on 21st August.
August '16 – Week 4 (22nd to 28th)
- Compared to last week, silver prices dropped even further, trading at Rs.45,000 per kilogram on 21st August.
- Silver rates were seen climbing slightly at the beginning of the week, but soon fell even further.
- The lacklustre demand in the domestic market didn’t provide any support to silver rates, but managed to keep prices stable.
- Silver traded at Rs.44,200 from 26th August to 28th August, the lowest price recorded for the month.
August '16 - Week 5 (29th to 31st)
- Prices of silver remained low in the last week of August as well.
- With the upcoming festive season, there was a slight increase in domestic demand which gave silver prices a little boost.
- On the global front, trends are not working in favor of silver.
- Silver prices are expected to pick up in the second half of 2016 in the domestic market.
|July 1st Rate||Rs.43,500 per 1 kg|
|July 31st Rate||Rs.47,500 per 1 kg|
|Highest Rate in July||Rs.48,500 per 1 kg on 6th of July|
|Lowest Rate in July||Rs.43,500 per 1 kg on July 1st|
July'16 - Week 1 and 2 (1st to 10th)
- Silver traded at Rs.43,500 per 1 kg on the 1st of July.
- Owing to heavy demand, silver hit the highest for the week at Rs.47,500 per kg on the 4th of July.
- Silver hit the highest for the month at Rs.48,500 per 1 kg on 6th of July
- Silver and hit Rs.48,000 per kg on the 7th of July.
- Silver closed the second week at Rs.46,400 per kg on the 10th of July.
July'16 - Week 3 (11th to 17th)
- Silver opened the at Rs.46,400 per kg the 11th of July.
- The price increased by Rs.100 to Rs.46,500 per kg on the 12th of July.
- Silver hit Rs.47,500 per kg on the 14th of July.
- Silver closed the month at Rs.47,500 per kg on the17th of July.
July '16 - Week 4 (18th to 24th)
- Silver traded at Rs.47,100 per kg on 18th of July.
- Silver hit Rs.46,400 per kg on the 20th of July.
- Prices came down to to Rs.46,000 per kg on the 21st of July.
- Silver price increased by Rs.800 to Rs.46,800 per kg on the 22nd of July.
- Silver closed the fourth week at Rs.46,800 per kg on the 24th of July..
July‘16 - Week 5 (25th to 31st)
- Silver opened the last week of July at Rs,46,800 per kg on the 25th of July.
- The price came down by Rs.300 to Rs.46,500 per kg on the 26th of July owing to lukewarm demand.
- Silver recovered as it hit Rs.47,800 per kg on the 28th of July.
- Silver closed the month at Rs.47,500 per kg on the 31st of July.
|June 1st Rate||Rs.38,800 per kg|
|June 30th Rate||Rs.43,500 per kg|
|Highest Rate in June||Rs.43,500 per kg on 30th of June|
|Lowest Rate in June||Rs.38,500 per kg on the 2nd of June|
Jun'16 - Week 1 (1st to 4th)
- Silver traded at Rs.38,800 per kg on the 1st of June.
- Silver came down to Rs.38,500 on 2nd of June and the rates stayed the same on the 3rd of June.
- Silver closed the week at Rs.39,100 per kg on the 4th of June.
Jun'16 - Week 2 (5th to 11th)
- Silver traded at Rs.39,100 per kg on the 5th of June.
- Silver traded at Rs. 39,400 on the 8th of June.
- The price of silver hit Rs. 40,900 per kg on the 10th of June.
- Silver hit the highest for the week on the 11th of June at Rs.41,000 per kg.
Jun'16 - Week 3 (12th to 18th)
- Silver traded at Rs. 41,000 per kg on the 12th of June.
- The price of silver dropped down by Rs.200 per kg on the 13th as silver traded at Rs.40,800.
- Silver managed to pick up again as it hit Rs.42,100 per kg on the 16th of June.
- Silver traded at Rs.41,500 per kg on the 18th of June.
Jun'16 - Week 4 (19th to 25th)
- Silver traded at Rs.41,500 per kg on the 19th of June.
- On the 21st of June, silver traded at Rs.42,000 per kg.
- Silver dropped to Rs.41,200 per kg on the 23rd of June.
- Silver traded at Rs.42,000 on the 25th of June.
Jun'16 - Week 5 (26th to 30th)
- The price of silver remained unchanged and traded at Rs.42,000 per kg on the 26th of June.
- Silver witnessed an incline of Rs.400 and traded at Rs.42,400 per kg on the 28th of June.
- Silver closed the month at Rs.43,500 per kg on the 30th of June.
|1st May rate||Rs. 41,900|
|31st May rate||Rs. 38,500|
|Highest rate in May||Rs. 41,900 on 1st and 2nd of May|
|Lowest rate in May||Rs. 38,500 on 30th and 31st of May|
May '16 - Weeks 1 and 2 (1st to 8th)
- Silver prices in Mangalore began the month strong but prices dropped during the week due to low demand.
- Silver was priced at Rs. 41,900 per kg on the 1st and 2nd of May, with the price falling by Rs. 300, trading at Rs. 41,600 per kg on the 3rd of May.
- Prices continued to fall, with silver trading at Rs. 41,000 on the 4th of May, a drop of Rs. 600 in a single day as demand dipped.
- Prices rose marginally as the week ended, trading at Rs. 41,400 per kg on the 8th of May.
May '16 -Week 3 (9th to 15th)
- A turbulent market and domestic demand led to silver prices rising at the start of the week and then dropping towards the end of the week.
- Silver traded at Rs. 41,200 per kg on the 9th and 10th of May, as demand kept the price steady.
- Prices fell by Rs. 300 per kg on the 11th of May to Rs. 40,900 and fell further to Rs. 40,600 per kg on the 13th of May.
- The Dollar weakened towards the end of the week, pushing prices up to Rs. 41,200 per kg on the 15th of May.
May '16 - Week 4 (16th to 22nd)
- The Dollar recovered and made gains this week, resulting in a lower demand for silver.
- Silver was priced at Rs. 41,200 per kg on the 16th of May, but lower demand led to the price falling by Rs. 400 to Rs. 40,800 per kg on the 17th of May.
- The depreciating Dollar and volatile stock markets led to silver prices fluctuating the rest of the week.
- Silver traded at Rs. 39,700 per kg, a fall of Rs. 1,500 per kg from the start of the week.
May '16 - Weeks 5 and 6 (23rd to 31st)
- Silver prices fell to monthly lows in the last weeks of May, as markets recovered and the Dollar made gains on the back of positive data from the U.S. manufacturing industry and the chance of an interest rate hike.
- The price of silver was Rs. 39,600 per kg on the 23rd of May, with the price falling by Rs. 100 per day for the next two days.
- Silver recovered on the 26th of May, trading at Rs. 39,600 per kg, but the imminent release of data from the U.S. job market pushed stock markets up and led to silver demand falling.
- Silver was priced at Rs. 38,500 per kg on the 31st of May.
|April 1st Rate||Rs.36,800|
|April 30th Rate||Rs.41,900|
|Highest Rate in April||Rs.42,000 on the 29th of April|
|Lowest Rate in April||Rs.35,900 on the 4th of April|
|Overall Performance||Gain / Positive|
Apr'16 - Weeks 1 & 2 (1st to 10th)
- Silver rates declined during the first four days of the month but rose consistently for the next three days before gaining stability for the remainder of the ten-day period.
- Prices were recorded at Rs.36,800 on the first day of the month and Rs.36,300 on the tenth.
- Prices started to rise on the fifth day of trading thanks to firming international and local trends as well as an increase in industrial demand.
Apr ‘16 - Week 3 (11th to 17th)
- Silver rates increased steadily during the third week of the month barring a marginal decline on the last day of trading.
- Prices were recorded at Rs.36,900 on the 11th of April and Rs.38,400 on the 17th.
- Prices increased by Rs.1500 over the week.
Apr ‘16 - Week 4 (18th to 24th)
- Silver rates increased consistently over the course of the week and remained constant for the last two days of trading.
- Prices were recorded at Rs.38,500 on the 18th of April and Rs.40.300 on the 24th.
- The highest gains over seven days in April were recorded in the penultimate week as prices jumped by more than Rs.1800 between the 18th and 24th of the month.
Apr ‘16 - Week 5 (25th to 30th)
- Silver prices continued to increase consistently over the last week of April barring marginal losses on the second and fourth day of trading.
- Prices were recorded at Rs.40,400 on the 25th of April and Rs.41,900 on the last day of the month.
- The overall increase in the last week of trading was Rs.1500.
|1st March rate||Rs.36,400|
|31st March rate||Rs.36,400|
|Highest rate in March||Rs.37,700 from 21st to 24th|
|Lowest rate in March||Rs.36,300 on 29th and 30th|
|Overall performance||No change|
Mar'16 - Week 1 (1st to 6th)
- Silver prices didn’t experience any fluctuations in the first week as rates were stable at Rs.36,400.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Prices were again stable at last week’s rates as trading was sporadic in this city.
Mar'16 - Week 3 (14th to 20th)
- Silver continued its stable performance in the third week also.
- Prices were constant at Rs.36,400.
Mar'16 - Week 4 (21st to 27th)
- Silver was stable all through the week except on 25th when prices dropped by Rs.1,000 to Rs.36,600 from Rs.37,700 at the start of the week.
Mar'16 - Week 5 (28th to 31st)
- Silver lost marginal value in the last week of March.
- Prices were Rs.36,600 on 28th and Rs.36,400 on 31st.
Silver as an investment
Most consumers in Mangalore view silver as a safe form of investment due to its intrinsic value. Silver is respected across various segments of society for its store of value and therefore, a safe bet during times of economic instability and crises. Also, small investors find silver more affordable than gold. There are several prominent stores across Mangalore which offer a wide range of silverware, coins and jewellery.
Physical silver: Silver is extensively used in the form of jewellery such as silver caskets which are often worn by religious heads, amulets, hair ornaments known as jadaibillai, silver belts and silver toe ornaments among many others. Silver is, therefore, used in manifold ways in a wide variety of forms both for ornamentation purposes and paraphernalia associated with various traditional rituals in the city. Sterling jewellery is widely sold in the stores in the form of necklaces, bracelets, rings, studs and pendants among others.
Silver contracts: The white precious metal is traded in Multi Commodity Exchange (MCX), National Multi Commodity Exchange (NMCE) and National Commodity & Derivatives Exchange (NCDEX). The minimum contract which is traded (silver micro) is 1 kg while the initial margin is around Rs.2,200. Consumers should also incur other charges such as stamp duty, brokerage fee and so forth.
Silver rates in Mangalore
1 kg of silver was pegged at Rs.34,500 at the start of December 2015, a minor increase from Rs.33,900.00 in November. The price of the white precious metal has been witnessing minor price fluctuations for the past few months. For instance, 1 kg of silver reached a peak at Rs.35,100 in the middle of November 2015 but plummeted to Rs.33,600 towards the end of the same month. The price of 1 kg of the precious metal has been on the decline since January when it was pegged at Rs.40,572. The price of 1 kg of silver plummeted to Rs.36,178 towards the end of February but slightly rose to Rs.39,067 in March preceding a rally with the price hovering around Rs.42,537 in the month of May. The price of the precious metal, however, declined in the following months with 1 kg pegged at Rs.39,000 towards the end September and Rs.36,785 in the month of October.
Also Check Silver Price in NearBy Cities of Mangalore
|Silver Rate in Chennai||Silver Rate in Bangalore||Silver Rate in Hyderabad|
|Silver Rate in Pune||Silver Rate in Mumbai||Silver Rate in Coimbatore|
|Also Know: Gold Rate in Mangalore|
Read more on Silver
- About Silver Mining
- Silver Jewelry
- Why Should You Invest in Silver?
- How to Find Certified/Authentic Silver
- Need for Silver as an Industrial Commodity