Silver Rate in Mangalore

  • Today's Silver Rate in Mangalore( 15 Aug 2020 )

    ₹ 66.95
    Today's Silver Rate per gram

    Compare Silver Rate In Mangalore (Today & Yesterday)

    Rate Change
    Silver (1 gram) ₹ 66.95 ₹ 65.01 ₹ 1.94 ↑
    Bar Silver (1 Kg) ₹ 66,950 ₹ 65,010 ₹ 1,940 ↑

    Silver Price In Mangalore For Last 10 Days

    Date Silver (1 gram) Bar Silver (1 Kg)
    14 Aug 2020 ₹ 66.95 ₹ 66,950
    13 Aug 2020 ₹ 65.01 ₹ 65,010
    12 Aug 2020 ₹ 72.55 ₹ 72,550
    11 Aug 2020 ₹ 75.16 ₹ 75,160
    10 Aug 2020 ₹ 74.22 ₹ 74,220
    09 Aug 2020 ₹ 74.21 ₹ 74,210
    08 Aug 2020 ₹ 76.52 ₹ 76,520
    07 Aug 2020 ₹ 73.51 ₹ 73,510
    06 Aug 2020 ₹ 71.51 ₹ 71,510
    05 Aug 2020 ₹ 65.06 ₹ 65,060

    Weekly & Monthly Graph of Silver Rate in Mangalore

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    *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 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 July 2020 (rates per kg)

    Parameters Silver Price (per kg)
    July 1 Rate Rs.48,560 per kg
    July 31 Rate Rs.63,010 per kg
    Highest Rate in July Rs.66,060 per kg on 30 July
    Lowest Rate in July Rs.48,510 per kg on 5 July
    Overall Monthly Performance Incline
    Percentage Change 29.75%

    Trend of Silver Rate in Mangalore for June 2020 (rates per kg)

    Parameters Silver Price (per kg)
    June 1 Rate Rs.50,120 per kg
    June 30 Rate Rs.48,510 per kg
    Highest Rate in June Rs.50,160 per kg on 2 June
    Lowest Rate in June Rs.47,110 per kg on 16 June
    Overall Monthly Performance Decline
    Percentage Change -3.21%

    Trend of Silver Rate in Mangalore for May 2020 (rates per kg)

    Parameters Silver Price (per kg)
    May 1 Rate Rs.42,530 per kg
    May 31 Rate Rs.50,100 per kg
    Highest Rate in May Rs.51,400 per kg on 25 May
    Lowest Rate in May Rs.41,010 per kg on 2 May
    Overall Monthly Performance Incline
    Percentage Change 17.79%
    • Silver opened in the month of May in Mangalore at Rs.42,530 per kg. Although there was a dip in prices the very next day to the lowest in the month at Rs.41,010 per kg, silver was still on track for an upward tick on the back of the various stimulus packages released by almost every country’s government to boost their economy in response to the coronavirus pandemic. However, prices soon fell before the end of the first week as optimism about the lockdowns being eased soared, thus creating more hope in the stock markets. This prompted investors to book profits. However, prices remained steady overall as the dollar continued to remain firm. The rising tensions between US and China contributed to a weakening of the risk sentiments among investors in the stock market, which worked in favor of silver ultimately.
    • In the second week of May in Mangalore, silver started at a price of Rs.42,060 and ended at a price of Rs.42,960, although it had risen up to Rs.43,620 on 11 May 2020. The surge in silver prices could be attributed to various economic data showing increasing unemployment which stoked fears of a recession, thus leading to the increasing appeal of precious metals as a safe-haven investment in uncertain times. However, the US jobs data of April was being awaited by investors. The anticipation of the US nonfarm payrolls data led to a surge in global silver prices.
    • Silver prices in the third week of May in Mangalore started off at Rs.43,160, quickly rising to Rs.46,900, with prices more or less rising through the rest of the week, to end the week at Rs.48,200 per kg of silver. The high in prices could be attributed to the US jobs data showing a bleak economy which hampered hopes of a quick turnover for the economy. The rising tensions around US-China trade relations contributed to the appeal of safe-haven investments. However, risk appetite also improved side by side as news emerged of successful early-stage trials for a vaccine to combat the coronavirus.
    • In the last week of May, silver prices in Mangalore started at Rs.48,250 per kg and ended the month at Rs.50,100 per kg, with the month’s highest price falling on 25 May at Rs.51,400. Tensions around the Hong Kong protests resulted in the US-China trade relations being strained even more. Increased economic stimulus packages also helped to boost up the price of silver as investors lowered their risk appetite in such a volatile global economic scenario. There was a further rise in silver prices as the US dollar weakened over uncertainty around the US government’s response to China’s management of the Hong Kong protests. Overall, the trend for silver in the month of May in Mangalore was an incline of 17.79% which was in keeping with the overall global trends that were playing out politically and in the stock markets.

    Trend of Silver Rate in Mangalore for April 2020 (rates per kg)

    Parameters Silver Price (per kg)
    April 1 Rate Rs.40,500 per kg
    April 30 Rate Rs.41,520 per kg
    Highest Rate in April Rs.42,710 per kg on 21 April
    Lowest Rate in April Rs.40,360 per kg on 6 April
    Overall Monthly Performance Incline
    Percentage Change 2.51%
    • On 1 April, silver stood at Rs.40,500 per kg. For the next five days, Mangalore had seen the price of the white metal remain the same (1 April to 5 April). By 6 April, the precious metal rates had fallen to Rs.40,360 per kg (by Rs.140). This fall in rates has been linked to the strong global equities and U.S. dollar. The strengthening was driven by a dip in the number of coronavirus cases in the world. Three days later, on 9 April, a few investors started to hedge their risks before a long weekend owing to May Day. A meeting of the top oil producers showed that they wanted to stem the market slump and improve the risk sentiment. They were of the hopes that the coronavirus would soon end and things would resume to normal. This had in turn driven the prices of silver to increase to Rs.41,290 per kg (by Rs.930).
    • On 12 April, the white metal was priced at Rs.41,100 per kg. On 14 April, Mangalore started to see fears over an economic fallout, and this had been driven by the fast-growing coronavirus. This prompted investors to look to the bullion as a safe-haven. On 16 April, the prices of the metal had hiked up to Rs.41,920 per kg. This fall had been driven by weak manufacturing data released by the U.S. and also the low retail sales. These catalysts had also boosted the fears of an economic recession. On 17 April, the prices of silver had fallen to Rs.41,860 per kg (by Rs.60). On 19 April, the rates had fallen by Rs.650 to Rs.41,210 per kg.
    • On 20 April, silver saw its prices dip. This fall was driven by a firm U.S. dollar and a lot of doubts as the U.S. had plans to reopen its economy. On 22 April, the rates of silver had fallen to Rs.41,660 per kg. This dip has been linked with the appetite of investors for safe havens. By 29 April, silver prices stood at Rs.42,210 per kg (a fall by Rs.330). This dip in price was driven by a huge risk appetite induced by countries wanting to ease curbs and open up their economies. On the last day of April, silver stood at Rs.41,520 per kg.

    Trend of Silver Rate in Mangalore for March 2020 (rates per kg)

    Parameters Silver Price (per kg
    March 1 Rate Rs.47,400 per kg
    March 31 Rate Rs.40,500 per kg
    Highest Rate in March Rs.50,700 per kg on 6 March
    Lowest Rate in March Rs.37,800 per kg on 19 March
    Overall Monthly Performance Decline
    Percentage Change -14.5%
    • The overall trend in the price of silver in March showed a decline of 14.5% from Rs.47,400 per kg to Rs.40,500 per kg. Silver had set foot into the third month of the year and stood at a price of Rs.47,400 per kg. The metal then witnessed an increase in its price by 2 March. On this day, silver was being sold at Rs.48,500 per kg. This rise in the metal’s price had been a rebound from a sharp drop as traders had hope that the U.S. Federal Reserve would eventually bring down the interest rates for cushioning the huge impact that the coronavirus had on the global economy. However, within 4 days, on 6 March, the white metal saw its prices shoot up by Rs.2,200 to Rs.50,700 per kg. The U.S. Federal Reserve had cut the interest rates and this led to the sudden increase in the price of silver.
    • Entering the second week of the month, silver stood strong at Rs.50,500 per kg. From 6 March to 8 March, the metal went through a few minor price changes and on 9 March it had settled at Rs.49,200 per kg before the price rose to Rs,50,000 per kg on 10 March. The hike in the white metal’s price was driven by the pressure and tensions that international equities had been going through. The global economy had witnessed a major fallout because of the pandemic, in turn, increasing the demand for safe-haven assets. Silver then saw a fall in its price by Rs.1,400 to Rs.48,600 per kg on 12 March. The decrease in the price of silver can be associated with traders selling the precious metal. This selling spree was aimed at covering the investor’s margins for stock markets.
    • The third week of the month once again witnessed the coronavirus hovering over it, and injecting fluctuations to the price of silver. The white metal was priced at Rs.45,900 per kg on 13 March. Investors had rushed in to sell their silver in order to keep liquid cash. They adhered to this as they needed their margin calls to be met across the international markets that were taking a hard hit because of the coronavirus. Silver prices had then continued to fall for days and then eventually hit its lowest on 19 March. On this day, people had to buy silver at Rs.37,800 per kg. As the value of the U.S. dollar had shot up, and the coronavirus continued to haunt the international markets, traders had sold sell their assets to hoard cash.
    • There were two consecutive days on which the price of the white metal had remained the same. On the 21 March and 22 March, silver was sold at Rs.40,100 per kg. By 23 March, the rates of the metal rose by Rs.600. On this day, silver had been priced at Rs.40,700 per kg. The previous trading rally had witnessed the price of the metal shoot up after the U.S. Federal Reserve had made an announcement regarding unprecedented measures for helping the economy cope with the impact of the coronavirus. Towards the end of March, for 8 days, the price of this metal had been the same. From 24 March to 31 March, silver was sold at Rs.40,500 per kg.

    Trend of Silver Rate in Mangalore for February 2020 (rates per kg)

    Parameters Silver Price (per kg)
    February 1 Rate Rs.50,300 per kg
    February 29 Rate Rs.47,400 per kg
    Highest Rate in February Rs.52,900 per kg on 24 February
    Lowest Rate in February Rs.47,400 per kg on 29 February
    Overall Monthly Performance Decline
    Percentage Change -5.76%
    • On 1 February, Silver prices stood at Rs.50,300 per kg in Mangalore. There was an increase of Rs.100 in the prices compared to the closing price of the previous month.
    • Over the month of February, silver prices saw a lot of fluctuations and ended the month at a decline of 5.76%.
    • Silver recorded its highest price for the month on 24 February with every kilogram costing Rs.52,900. The jump in the prices was accounted to the spread of coronavirus outside China and the World Health Organisation (WHO) declaring it as a global emergency.
    • With investors booking profits after the continuous fluctuation of prices in the market, the rates of the white metal slipped considerably in the last week of February. Silver closed the month at Rs.47,400 per kg, the lowest recorded price in the city.

    Trend of Silver Rate in Mangalore for January 2020 (rates per kg)

    Parameters Silver Price (per kg)
    January 1 Rate Rs.50,300 per kg
    January 31 Rate Rs.50,200 per kg
    Highest Rate in January Rs.52,600 per kg on 8 January
    Lowest Rate in January Rs.49,200 per kg on 30 January
    Overall Monthly Performance Decline
    Percentage Change -0.19%
    • The highest and lowest prices of silver in Mangalore for the month of January were Rs.52,600 per kg and Rs.49,200 per kg, respectively. Silver prices fluctuated throughout the month of January in Mangalore.
    • Some of the main factors that affected the prices of silver were the trade tensions between China and the US, the outbreak of the coronavirus, and the Middle East tensions. Due to these factors, the prices of silver saw an overall decline of 0.19% in Mangalore for the month of January.
    • Initially, the prices of silver increased because of the tensions between Iran and the US. Silver in Mangalore in January opened at Rs.50,300 per kg. The price was Rs.600 lesser when compared to 31 December 2019.
    • However, by the end of the month, the prices of silver had decreased due to the coronavirus outbreak. The price of silver closed at Rs.50,200 for the month.

    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

    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 Know: Gold Rate in Mangalore

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