Silver Rate in Mysore

  • Today's Silver Rate In Mysore ( 15 Aug 2020 )

    ₹ 66.95
    Today's Silver Rate per gram

    Compare Silver Rate In Mysore (Today & Yesterday)

    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 Mysore 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 Mysore

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    • 3 Months
    • 6 Months

    *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 Mysore

    Silver is one of the precious metal that people buy after gold as an ornament or as a form of investment in Mysore. As an alternative to gold, silver has provided better returns than gold in Mysore. Silver prices are seen to be rising when the economy and markets were bearish or when there was no certainty over the future trends. This precious metal seems to be stable all over the world even in times of financial uncertainty. Silver, in Mysore, has been called as the ‘poor man’s gold’. The individuals buy silver in the form of jewelry, utensils and as gift items. Rural areas use silver as hedge against inflation.

    Trend of Silver Rate in Mysore 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 Mysore 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 Mysore 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%
    • The price of silver for the month of May in Mysore opened at Rs.42,530 for a kg. On the next day, silver rates reduced and were at Rs.41,010 per kg. On this day, silver hit its lowest rate for the month as well. The main reason for the reduction in price was a strong US dollar. Over the next three days, silver prices increased and were at Rs.41,520 by 5 May 2020. Silver rates increased because of the tensions between China and the US over the coronavirus outbreak. The weak US economic data also ensured that prices of silver increased. By the end of the week, silver closed at Rs.43,510 per kg.
    • In the second week, silver opened at Rs.43,610 for a kg. Over the next few days, the prices of silver decreased due to a strong US dollar. By 15 May 2020, the prices of silver increased and were at Rs.43,160 per kg. The various measures introduced by Central Banks across the world and the tensions between the US and China ensured that the prices of the white metal increased. On the last day of the second week, silver was at Rs.46,900 for a kg. The fears of a weak global economy that had been impacted by the coronavirus outbreak were the main reason for the prices to increase.
    • In the third week, the prices of silver in the city slightly reduced and were at Rs.46,710 per kg. The increase in oil prices and the improvement in the stock market were the reasons for the prices of silver to fall. Over the next few days, silver rates fluctuated and were at Rs.48,200 for a kg on 21 May 2020. On the last day of the week, silver prices increased again and were at Rs.48,350 per kg. The premature optimism over a vaccine for the coronavirus and a weak economy were the reasons for the prices to increase. Investors also moved towards silver as a safe haven due to these reasons.
    • The price of silver on 24 May 2020 was at Rs.48,360 for a kg. On the next day, the white metal hit its highest rate for the month and was at Rs.51,400 per kg. The main reason for the huge increase in prices was the tensions between China and the US. On 26 May 2020, the prices of sliver reduced drastically and were at Rs.48,000 for a kg. After increasing by Rs.700 the next day, silver rates reduced again on 28 May 2020 and were at Rs.47,910 per kg. On the last day of the month, the prices of silver were at Rs.50,100 for a kg. Overall, silver saw its prices increase by 17.79%.

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

    Parameter Silver price
    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 Performance  Incline
    Percentage Change 2.51%
    • Silver prices increased by 2.51% in Mysore in the month of April. The price of silver on the first day of the month was at Rs.40,500 for a kg. Silver rates did not change in the first five days of the month. However, on 6 April 2020, the price of silver reduced to Rs.40,360 per kg. On this day, silver hit its lowest rate for the month as well. The main reasons for the drop in prices were the strong equity market and a strong dollar. The increase in the value of the dollar was due to the reduction in coronavirus spread and infections around the world. From 9 April 2020, traders across the world began to hedge risks and started investments. Fuel producers around the world met and helped the slump in the market as they hoped that the coronavirus spread may come to an end. Due to the meeting and the several measures that were taken, the prices of silver increased and were at Rs.41,290 for a kg.
    • The prices of the white metal further increased by 12 April 2020 and were at Rs.41,400 for a kg. Due to the spread of coronavirus around the world, individuals began investing in silver as they considered it as a safe haven. Due to the weak manufacturing data in the US, the prices of silver increased to Rs.41,920 per kg by 16 April 2020. The low retail sales were due to the expectations of an economic fallout. On 17 April 2020, the price of silver decreased slightly and was at Rs.41,860 for a kg. On 19 April 2020, the prices of silver reduced again by Rs.650 and were at Rs.41,210 for a kg.
    • On 20 April 2020, the prices of the white metal further dropped because of a firm US dollar and the plans of easing the lockdown restrictions in the US. On 21 April 2020, silver hit its highest rate for the month and was at Rs.42,710 for a kg. On 22 April 2020, the prices of silver reduced due to several measures introduced by Central Banks across the world to help the economy. The main reason for the introduction of these measures was the fear of a global recession. Silver prices fluctuated throughout the third week of April. On 26 April 2020, the price of silver was at Rs.42,540 for a kg.
    • On 29 April 2020, the price of silver reduced further and was at Rs.42,210 per kg. The Rs.330 drop in prices was due to investors seeking riskier products after several countries eased the restrictions of the lockdown which had been in effect to curb the spread of coronavirus. The coronavirus outbreak ensured that the prices of silver increased in Mysore in April. On 30 April 2020, the price of silver closed the month at Rs.41,520 for a kg.

    Trend of Silver Rate in Mysore 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 -14.55%
    • For the month of March, the rate of silver stood at the rate of Rs.47,400 per kg in Mysore. There was no change in the prices when compared to the closing price of the previous month. The rates jumped by Rs.1,100 the next day as there was a rebound from a steep fall.
    • The precious metal recorded its highest price for the month on 6th March when it stood at the rate of Rs.50,700 per kg. in the city. The traders across the globe anticipated a cut in the interest rates by the US Federal Reserve and that further pushed the prices higher for the white metal.
    • The rates dropped following that as investors embarked on a selling spree to hoard cash. The drop in the prices saw a kilogram of silver cost Rs.37,800 per kg on 19th March. The rise in the US dollar along with Coronavirus lingering over the global markets was said to be reason why investors sought to sell off their assets.
    • The US Federal Reserve announced some measures to absorb the impact of coronavirus on the economy. Owing to this, the silver prices increased over the next few days. However, with many countries going into lockdown to contain the spread of the virus, the rates remained stagnant for the last week and closed at Rs.40,500 per kg. The monthly performance of the metal witnessed a drop of –14.55%.

    Trend of Silver Rate in Mysore 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%
    • Silver prices opened the month of February at Rs.50,300 per kg in Mysore. The rates climbed by Rs.100 for every kilo when compared to the closing price of the previous month.
    • The rates of the white metal saw minor fluctuations over the first two weeks of the month in the city. Every kilogram of silver was retailed for Rs.49,600 as of 14 February 2020.
    • From the third week onwards, silver rates climbed in Mysore. This was accounted to increased local demand by industries and coin makers. The hike saw the white metal touch the Rs.52,900 mark for every kilogram on 24 February before slipping considerably until the end of the month.
    • Silver closed the month at Rs.47,400 per kg, the lowest recorded price of the white metal in Mysore. The overall performance of the precious metal was -5.76%, trending downwards.

    Trend of Silver Rate in Mysore 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%
    • Silver opened at Rs.50,300 per kg in Mysore on 1 January with fears surrounding the US-China trade war sparking speculation of a slowdown on a global scale. This led to the appeal of metals like silver as a safe haven increasing even more leading to higher prices overall.
    • It reached its highest peak on 8 January, rising to Rs.52,600 per kg, with tensions around the US-Iran military conflict, which had first increased, later began ebbing considerably.
    • Silver dipped to Rs.49,200 by the end of January. This was in part because the stock market bounced back significantly following upbeat economic data from the US with the dollar also rising to a two-month peak.
    • Overall, the performance of silver in Mysore through the month of January was on a decline with a percentage change of –0.19%.

    Also Check Silver Price in NearBy Cities of Mysore

    Silver rates in Mysore are a good indication of the rates prevailing in the country. Silver rates in Mysore are constantly changing and are updated daily. The updated rate of silver information can be gathered from the dealers in Mysore directly or through the various online financial websites.

    Silver as an Investment:

    Silver can be invested in the following ways:

    Jewelry - Buying silver as a jewelry or artefact is expensive than buying silver coins. But a lot of households use silver cutlery. The children adorn the silver ornaments like anklets, chains, rings and earrings. But, when you resell the jewelry, the making charges of about 10% is deducted and a melting charges is levied, which lowers the returns.

    Coins and bars - Silver can be bought in coins and bars. Usually silver coins are used in India for gifting or during the puja ceremonies in certain religion. The silver purchases are high during the festive and wedding season. The banks also offer silver coins and bars but they won’t buy it back from you.

    Silver bullion - Through Bullion India, you can buy small quantities of pure silver at a lowest possible price with an option for free storage for no fee. The market rates are affordable and the quality is ensured. It is easy to open and operate the account. Minimum documentation is needed. You can redeem the holding and take physical delivery of the bullion at your doorstep.

    Leading Banks allow you to invest in physical silver and they provide certification for the same. But the silver is sold for a higher rate than that is being offered by the dealers and jewelers.

    The rates are based on various indicators and information provided. People tend to buy silver despite the prices being high, as they believe that the silver bullion value will soar in the coming years.

    Where can you Buy Silver from in Mysore?

    You can buy silver in Mysore at Mysore Silver Palace, Bhima & Brother, MGB Jewellers, Nagaraja Shetty & Bros Jewellers, Sri Shanti Jewellers, Sri Krishna Jewellery Mart, Prakash Jewellers, Sri Misri Jewellers, Jayadeva Jewellers, etc. The jewelers will offer silver in the form of ornament, coins, bars and in any other customized form that the customers requires.

    Also Know: Gold Rate in Mysore

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