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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 August 2016 (Rates per kg)
|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