Silver Rate in Nagpur

Daily Silver Rates
Date Silver (1 gram) Bar Silver (1 Kg)
19 Feb 2019 ₹ 43.5 ₹ 43,500
18 Feb 2019 ₹ 43.6 ₹ 43,600
17 Feb 2019 ₹ 43.4 ₹ 43,400
16 Feb 2019 ₹ 43.4 ₹ 43,400
15 Feb 2019 ₹ 42.8 ₹ 42,800
14 Feb 2019 ₹ 42.7 ₹ 42,700
13 Feb 2019 ₹ 42.8 ₹ 42,800
12 Feb 2019 ₹ 43.1 ₹ 43,100
11 Feb 2019 ₹ 43.3 ₹ 43,300
10 Feb 2019 ₹ 43.3 ₹ 43,300

*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 Nagpur

India is the second largest consumer of silver. Traditionally, gold is considered the number one option in terms of safe investment for the middle class and upper middle class in the country. However, silver rates in Nagpur depend on the overall demand for silver, which largely originates from the industrial use of the metal in the country. Unlike gold which is primarily used as jewelry or investment, silver is used in several industrial segments.

Trend of Silver Rate in Nagpur for November 2018 (rates per kg)

Parameters Silver price (per kg)
November 1 Rate Rs.40,900 per kg
November 30 Rate Rs.38,800 per kg
Highest Rate in November Rs.41,500 per kg from 2-4 and 6 November
Lowest Rate in November Rs.38,800 per kg on 30 November
Overall Monthly Performance Decline
Percentage Change -5.13%

Trend of Silver Rate in Nagpur for October 2018 (rates per gram)

Parameters Silver price (per kg)
October 1 Rate Rs.41,100 per kg
October 31 Rate Rs.41,200 per kg
Highest Rate in October Rs.42,000 per kg on 3 October
Lowest Rate in October Rs.41,100 per kg on 1 and 2 October
Overall Monthly Performance Incline
Percentage Change 0.24%

Trend of Silver Rate in Nagpur 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 Nagpur 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):

  • In the beginning of week 1, silver in the city of Nagpur was recorded at Rs.41,400 per kg, the highest the metal was priced during the month of August 2018.
  • Silver, on 4 August, witnessed an increment in its price by Rs.200 per kg due to high demand from local industries and jewellers. On this day, silver was trading at Rs.41,300.
  • On the last day of week 1, the price of the metal in the city was recorded at Rs.41,300 per kg. The price was not affected by the increased demand Nagpur experienced from the previous day.

August 2018 - Week 2 (6 - 12):

  • At the start of week 2, silver was trading at Rs.41,300 per kg in Nagpur. This was the same price that it was trading at during the end of week 1.
  • On 9 August, silver enjoyed a hike in its value as it stood at Rs.41,400 per kg, due to the decline in the value of the dollar. This was also the highest price point of silver in the city for the month of August 2018.
  • Week 2 ended on a high as silver in Nagpur rose in value to Rs.41,200 per kg.

August 2018 - Week 3 (13 - 19):

  • Silver, at the start of week 3, was priced at Rs.41,200 per kg.
  • After the US released their employment data, value of silver dipped as the dollar rose due to positive economic trends in the US. On 16 August, silver was trading at Rs.39,900 per kg.
  • The city then experienced a hike in silver prices at the end of week 3 as silver was trading at Rs.40,000 per kg.

August 2018 - Week 4 (20 - 26):

  • Week 4 began with silver trading at Rs.40,000 per kg.
  • On 23 August, the dollar rose in value when compared to other currencies causing the silver price to decline. The metal, on this day, was priced at Rs.39,900.
  • The price of silver then rose during the end of week 4. On 26 August, silver was trading at Rs.40,200 per kg.

August 2018 - Week 5 (27 - 31):

  • Week 5 commenced with silver being priced at Rs.40,200.
  • Silver price in Nagpur then increased during the course of the week as domestic demand from local industries for the metal rose as well.
  • For the month of August 2018, a negative trend of -2.65% was recorded. Silver was trading Rs.40,300 per kg at the end of week 5.

Trend of Silver Rate in Nagpur 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)

  • The month started off with the price of silver commencing at Rs.42,800 per kg.
  • After remaining stable for a day, silver prices fell on 3 July 2018 by Rs.400 per kg and stood at Rs.42,400 per kg. The decline in demand for the metal was directly proportional to silver prices causing the price of the metal to fall.
  • However, the silver price in Nagpur rose to Rs.42,800 per kg and remained unchanged for the next few days. The increase in silver prices can be associated with the fluctuation in the local industrial offtake.
  • During the end of the week, from 9 - 10 July, silver rates in Nagpur rose to Rs.42,900 per kg. This is the highest silver rate recorded for the month of July in Nagpur. The increase in silver rates was mainly due to positive market trends clubbed with declining dollar rates over other currencies.

July 2018- Week 2 (11-17)

  • Silver traded at Rs.42,600 per kg. Silver prices fell continuously in the second week of July compared to the first week. The decline in silver prices can be linked to the decreased demand for the metal.
  • As the industrial demand for the metal dipped further, silver prices continued to fall. Silver was sold at Rs.42,200 per kg from 12 - 14 July.
  • Due to stable industrial demand, silver prices continued to be relatively stable. The silver rate in on 16 July stood at Rs.42,300 per kg in Nagpur.
  • Silver closed at Rs.42,100 per kg on 17 July.

July 2018- Week 3 (18 - 24)

  • Silver was priced at Rs.41,700 per kg on 18 July 2018.
  • A drop of Rs.400 per kg was noted in silver prices on the first day of the week. The dip in silver prices can be directly linked to the fall in the demand for the metal.
  • A small spike in the dollar value led silver price to decline on 20 July 2018 when the metal was priced at Rs.41,300 per kg.
  • Silver rates between 21 - 22 July stood at Rs.41,700 per kg. Though the prices slightly picked up on 21 and 22, the rates quickly fell to Rs.41,400 per kg on 24 July.
  • Though all the external factors remained neutral, poor demand for silver from jewellers, coin makers, and industrial units led to declining silver rates throughout the month of July.

July 2018- Week 4 (25 - 31)

  • The demand for the metal picked up in the last week of July. Steady industrial demand for the metal caused the price of silver to rise to Rs.41,500 per kg on 25 July.
  • Due to the decline of dollar value, silver prices spiked on 26 July to Rs.41,800 per kg. However, demand for the metal dropped which naturally caused the decline in silver prices over the next few days.
  • As on 28 - 29 July, the price of silver stood at Rs.41,200 per kg. This is the lowest silver rate recorded for the month of July in Nagpur.
  • By the end of the month, the price of silver increased as dollar rates dropped slightly. The metal stood at Rs.41,400 per kg on 30 - 31 July.
  • Overall, the prices of silver fell by 3.27% in July in Nagpur.

Trend of Silver Rate in Nagpur 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):

  • Trading opened for the month with silver priced at Rs.42,800 per kg on the 1st with investor demand on the low amid the rising US dollar and equities.
  • Subdued demand compounded with weak global cues led to silver rates dropping to Rs.42,600 per kg on the 2nd. This was also the lowest recorded monthly figure in Nagpur.
  • Poor trends overseas coupled with reduced industrial offtake for the metal led to silver being priced at Rs.42,600 per kg until the 5th.
  • Rates rose to Rs.43,900 per kg on the 6th as the US dollar index lost against a basket of other apex currencies amid market speculations ahead of the G7 summit.
  • With the dollar regaining lost ground over the next two days, silver was recorded trading at Rs.43,800 per kg and Rs.43,600 per kg on the 7th and the 8th respectively.
  • The 9th, however, saw prices improving to Rs.43,700 per kg following a slight increase in industrial orders from the Asian continent.
  • The week came to an end with the white metal prices holding at Rs.43,700 per kg on the 10th with steady demand from domestic coin manufacturers and industrial units.

June 2018 - Week 2 (11 - 17):

  • When the week began, the industrial metal was recorded trading at Rs.43,900 per kg on the 11th with strong domestic demand brought about by positive global cues.
  • The 12th witnessed prices surging to Rs.44,000 per kg before plunging to Rs.43,900 per kg the following day with demand suppressed by the strong US dollar.
  • Silver rates in Nagpur were recorded holding at Rs.44,300 per kg on the 14th before rising to Rs.45,000 per kg - the highest recorded monthly figure - the next day as the US dollar weakened following the US Federal Reserve monetary policy meeting.
  • The dollar, however, regained lost ground over the next few days with the US dollar index dominating against other apex currencies at the international level.
  • The rest of the week saw silver being priced at Rs.44,300 per kg with subdued but steady demand from local industrial units and coin manufacturers.

June 2018 - Week 3 (18 - 24):

  • The third week of silver trading opened in Nagpur with the metal priced at Rs.43,400 per kg on the 18th after an incline in the dollar value led to silver prices plunging by Rs.900 from the previous session.
  • The 19th saw rates recovering to Rs.43,500 per kg before plummeting to Rs.43,100 per kg on the 20th as demand flatlined amid the strong greenback and rising equity markets.
  • Poor trends overseas coupled with subdued local interest led to silver prices dropping further to Rs.42,900 per kg on the 21st.
  • Steady demand from industries and coin makers despite the weak global cues led to silver rates remaining untouched at Rs.42,900 per kg for the remainder of the week.

June 2018 - Week 4 (25 - 30):

  • When trading began for the last week, the industrial metal was recorded holding at Rs.43,200 per kg on the 25th after a decline in the greenback value led to rates rising at the domestic level.
  • However, the rest of the week saw silver prices dropping considerably with local demand held in check by the recovering US dollar.
  • Silver was priced at Rs.43,000 per kg on the 28th before plummeting to Rs.42,800 per kg on the 29th amid the weak trend overseas.
  • Trading closed for the month with silver rates finishing at Rs.42,800 per kg on the 30th, registering no change in the overall monthly silver trade performance in Nagpur.

Trend of Silver Rate in Nagpur 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 rates 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 prices 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.
  • As the tussle between the US and North Korea seemed to intensify, prices of precious metals were on the rise.
  • Silver prices 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 Nagpur 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.
  • Prices 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 prices 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 rates 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 Nagpur 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 Nagpur 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)

  • The month began with silver priced at Rs.41,400 per kg in Nagpur as demand for silver was stable as a result of steady orders from industrial units.
  • Political conditions such as the trade talks between the U.S., and China as well as the U.S.-North Korea tensions led to equity markets performing poorly, which led to higher demand for safe-haven assets like bullion.
  • Silver prices rose to Rs.41,600 per kg on 3 April before declining orders led to a marginal drop in prices.
  • A rise in the dollar rate as well as stable economic markets locally led to silver prices falling to Rs.41,100 per kg on 6 April.
  • Minor fluctuations in demand led to silver prices ending the week trading at Rs.41,200 per kg on 7 April.

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

  • The second week saw demand for silver rise marginally due to wildly fluctuating equity markets and currency markets.
  • The week began with silver trading at Rs.41,200 per kg on 8 April due to steady demand from industrial as well as retail sectors.
  • Tensions between the U.S. and North Korea dominated equity market predictions and led to profit-booking by some investors.
  • SIlver prices rose to Rs.41,700 per kg on 11 April after a suspected chemical attack in Syria led investors to buy safe-haven assets like gold and silver.
  • Prices continued to rise for the rest of the week as currencies also plunged as silver prices rose to Rs.42,000 per kg on 12 April.
  • Local demand was steady but demand vagaries led to the industrial metal trading at Rs.41,900 per kg on 15 April.

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

  • Prices rose to Rs.42,100 per kg as the third week began as investors assessed the impact of the U.S.-led strikes against Syria.
  • Overseas demand for the industrial metal was quite high as markets were low and the dollar rate was poor, resulting in increased demand for bullion.
  • Silver rose to Rs.43,700 per kg on 19 April as local industrial demand increased on positive market cues and futures buying.
  • Prices were high for most of the week as international cues bolstered local demand and kept prices steady.
  • A slight dip in price was recorded towards the end of the week as the dollar rate began to recover and equity markets also made some gains.
  • Silver ended the week priced at Rs.41,900 per kg on 22 April.

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

  • Demand for silver was steady but there was a drop in the industrial metal’s value over the last week of April.
  • The outcome of the Fed Reserve meeting and U.S. industrial data due to be released led to investors being more bullish as interest in bullion fell.
  • Silver opened the week at Rs.43,700 per kg on 23 April after an early rally but prices dropped on poor demand for the rest of the week.
  • As tensions between China and the U.S. appeared to be easing, equity markets and the dollar rose, leading to lower imports of silver.
  • Prices fell to Rs.42,800 per kg on 28 April before dropping to Rs.42,300 per kg on 30 April.

Trend of Silver Rate in Nagpur 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 (1-4)

  • Silver price in Nagpur were on the rise on positive market developments as well as consistent demand from industrial units.
  • Trading opened at Rs.41,100 per kg as the month began, with steady demand due to consistent offtake from industrial units.
  • Prices climbed to Rs.41,400 per kg on 2 March on positive market cues and a declining U.S. Dollar.
  • Coin makers also increased orders which led to a rise in demand for the industrial metal as silver rate in Nagpur rose to Rs.41,600 per kg on 4 March.

March 2018- Week 2 (5-11)

  • The second week saw silver price in Nagpur continue to rise on positiv market trends.
  • Silver was priced at Rs.41,700 per kg on 5 March as domestic demand rose on positive international trends.
  • Prices dropped to Rs.41,400 per kg on 6 March before a revival in interest led to prices rising to Rs.41,900 per kg on 7 March.
  • A declining dollar and geopolitical tensions in the U.S. led to markets falling and investors seeking safe-haven assets like bullion.
  • Prices regularised during the week as silver dropped to Rs.41,300 per kg on 9 March.
  • Silver rate in Nagpur recovered as the week ended on 11 March, trading at Rs.41,600 per kg.

March 2018- Week 3 (12-18)

  • The third week saw a gradual decline in demand for silver which was reflected in the price of the industrial metal.
  • Silver was priced at Rs.41,600 per kg on 12 March on stable demand though local industrial demand was on the decline due to a rise in the dollar value.
  • Silver rate in Nagpur dropped to Rs.41,600 per kg on 13 March on reduced demand from coin makers while equity markets stabilised on positive market cues.
  • The surprise firing of the U.S. Secretary of State led to a rise in silver demand, which rose to Rs.41,700 per kg on 14 March.
  • Demand fell for the rest of the week on a strengthening dollar.
  • The week ended with silver priced at Rs.41,100 per kg on 18 March following a steep fall in demand.

March 2018- Week 4 (19-25)

  • Silver price in Nagpur fell as the week began, trading at Rs.41,000 per kg on 19 March on poor international demand.
  • Prices fluctuated on conflicting market cues as silver rose to Rs.41,200 per kg on 20 March on unsteady equity markets.
  • Geopolitical tensions in the U.S. led increasing interest in bullion as silver prices rose to Rs.41,500 per kg on 22 March.
  • Local demand rose as interest in silver peaked overseas which kept silver at Rs.41,600 per kg on 23 March.
  • Local demand remained constant as the week ended with silver priced at Rs.41,600 per kg on 25 March.

March 2018- Week 5 (26-31)

  • Silver was priced at Rs.41,600 per kg on 26 March as industrial offtake was bolstered by weak equity markets.
  • Silver price in Nagpur rose to Rs.41,800 per kg on 27 March as markets plunged on the possibility of a trade war with China due to prohibitive trade tariffs.
  • Demand for the industrial metal slipped as the week progressed as local coin makers reduced offtake due to a rise in the dollar rate, making silver imports more expensive.
  • Reducing industrial demand resulted in silver prices dropping to Rs.41,400 per kg on 29 March as prices remained unchanged for the rest of the week.
  • In spite of a fall in demand towards the end of the month, silver prices rose by 0.72% during the month.

Trend of Silver Rate in Nagpur for February 2018 (rates per kg)

Parameters Silver price (per kg)
February 1 Rate Rs.42,600 per kg
February 28 Rate Rs.41,200 per kg
Highest Rate in February Rs.42,600 per kg on 1 and 2 February
Lowest Rate in February Rs.40,600 per gram on 10 and 11 February
Overall Monthly Performance Decline
Percentage Change -3.28%

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

  • The month began in Nagpur with the white metal trading at Rs.42,600 per kg on the 1st after the US dollar weakened ahead of the US employment data. This was also the lowest monthly figure recorded in the city.
  • Silver rate in Nagpur remained unaltered at Rs.42,600 per kg on the 2nd owing to strong domestic demand amid the positive global cues.
  • However, the US dollar index rose against other emerging currencies after the US payrolls data proved to be stronger than expected. This led to silver price in Nagpur plunging to Rs.41,700 per kg on the 3rd.
  • Thanks to the subdued but steady demand from industries and coin manufacturers, the rest of the week saw the industrial metal prices holding steady at Rs.41,700 per kg on the 4th.

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

  • When trading commenced for the second week, silver was priced relatively lower at Rs.41,500 per kg on the 5th after demand for the metal declined amid weak global cues.
  • Though rates rose to Rs.41,900 per kg the next day, silver price in Nagpur plunged to Rs.41,400 per kg on the 7th with the US dollar index rising against other apex currencies in the international market.
  • Poor trends overseas compounded by weak demand resulted in silver rates dropping further to Rs.40,800 per kg on the 8th.
  • The 9th saw the white metal rates rebounding to Rs.41,000 per kg following an unexpected incline in domestic demand despite the poor trend overseas.
  • However, with the dollar and equities market performing well in the international trade, silver rate in Nagpur in Nagpur plummeted to Rs.40,600 per kg on the 10th. This was also the lowest recorded monthly figure in the city.
  • The week concluded with the industrial metal trading at Rs.40,600 per kg on the 11th with poor demand amid the weak trends overseas.

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

  • Poor dollar performances coupled with weakly performing equities resulted in silver prices rising considerably during the course of the week.
  • The week began with silver priced relatively higher at Rs.40,900 per kg on the 12th with the US dollar losing ground ahead of the US inflation data.
  • The next couple of days saw silver rate in Nagpur rising after markets awaited the inflation data for clues on the pace of Fed rate hikes during the year. The white metal was recorded trading at Rs.41,300 per kg on the 13th before rising to Rs.41,400 per kg on the 14th amid the positive trends overseas.
  • Prices surged to Rs.41,800 per kg on the 15th before plunging to Rs.41,700 per kg on the 16th with the US dollar strengthening following the US inflation data.
  • With investors and traders gravitating on safe-haven assets to hedge against inflation concerns, demand for the metal surged. This led silver price in Nagpur holding steady at Rs.41,700 per kg for the remainder of the week.

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

  • The fourth week commenced with the industrial metal priced at Rs.41,600 per kg on the 19th.
  • However, silver rate in Nagpur plunged to Rs.41,200 per kg the next day after the US dollar strengthened against other emerging currencies.
  • Though rates remained untouched at Rs.41,200 per kg on the 21st amid the poor trends overseas, silver prices rebounded to Rs.41,400 per kg the next day with an increase in demand from local industries and coin manufacturers.
  • Silver price in Nagpur surged further to Rs.41,600 per kg on the 23rd with the US dollar index and equities market losing in the international market.
  • The 24th saw rates declining slightly to Rs.41,500 per kg after domestic demand stabilised amid the firm trends overseas.
  • Thanks to steady demand from industries and coin makers, the rest of the week saw silver trading firm at Rs.41,500 per kg amid the positive trend overseas.

February 2018 - Week 5 (26th - 28th):

  • When trading commenced for the last week, silver price in Nagpur were recorded holding at Rs.41,600 per kg on the 26th.
  • Silver rates surging to Rs.41,700 per kg on the 27th as markets were shaky.
  • The month came to an end with the industrial metal trading at Rs.41,200 per kg on the 28th with silver trade in Nagpur registered a loss of 3.28% during the course of the month.

Trend of Silver Rate in Nagpur for January 2018 (rates per kg)

Parameters Silver price (per kg)
Silver Rate on 1st January 2018 Rs.38,925 per kg
Silver Rate on 31st January 2018 Rs.42,200 per kg
Highest Rate in January Rs.42,700 per kg on 29 January
Lowest Rate in January Rs.38,925 per kg on 1, 2 and 10 January
Overall Monthly Performance Incline
Percentage Change 8.41%

January 2018 - Week 1 (1st - 7th)

  • Silver prices in Nagpur witnessed a steady rise in prices this week due to an increased demand from local coin makers and industrial units.
  • Silver was priced at Rs.38,925 per kg, when the first month of 2018 opened for trading.
  • Rates in fact surged significantly towards the later part of the month as the dollar fell and local demand boomed.
  • This price then rose to Rs.39,115 per kg on the 2nd as there was an increased demand for purchases.
  • On the 3rd, silver price in Nagpur fell very slightly to Rs.39,110 per kg, before going up marginally to Rs.39,115 per kg on the 4th.
  • Silver rates rose on the 5th to hit Rs.39,265 per kg as demand was on the rise - a considerably strong rise compared to sub par performance of the previous few days.
  • This 6th and the 7th of January saw silver rate in Nagpur rise to Rs.39,355 per kg and hold on at this rate till the closing hours of the week.

January 2018 - Week 2 (8th - 14th)

  • Silver was recorded trading at Rs.39,265 per kg when the second week of January began on the 8th.
  • However, silver price in Nagpur dropped to Rs.39,110 per kg on the 9th after equity markets strengthened amid a strong dollar index, causing demand to drop.
  • Silver rates continued to hold at Rs.39,110 per kg levels over the next few days as demand from industrial units and coin manufacturers remained steady.
  • Silver rates in the city surged to Rs.39,265 per kg before rising further to Rs.39,355 per kg on the 13th as the US dollar seemed to weaken amid growing concerns in the US.
  • Strong industrial demand coupled with a positive trend overseas led to silver rates continue at at Rs.39,355 per kg at the time of the week’s closing on the 14th of January.

January 2018 - Week 3 (15th - 21st)

  • The third week of January started strongly due to a sudden burst in demand but rates fell as the week progressed and demand took a hit.
  • SIlver was seen trading at Rs.39,680 per kg - a Rs.325 per kg incline - when trading commenced for the week.
  • As mentioned above, rates seemed to be on the decline for much of the week after a strong start.
  • Over the 16th and the 17th of January, silver rate in Nagpur held on at Rs.39,670 per kg as demand seemed to drop amid poor sales.
  • Prices took a hit again on the 18th and they went down to Rs.39,265 per kg as local investors backed out from purchases as the US dollar seemed to rally.
  • When the market closed for the 21st of January, the white metal was seen trading at Rs.39,265 per kg.

January 2018 - Week 4 (22nd - 28th)

  • Due to a lack of clear stimulus silver rates saw little change over the fourth week of January - following the same trend as the previous week.
  • The week however, began strongly with the metal being priced at Rs.42,000 as markets opened for the week on the 22nd of January.
  • Silver continued to trade at Rs.42,000 per kg on the 23th as demand from local investors was steady.
  • The white metal continued trading at Rs.42,000 per kg on the 24th as well before some changes led to price increase on 25th.
  • Silver rate in Nagpur held on at Rs.43,100 per kg as demand from all investor circles remained flat.

January 2018 - Week 5 (29th - 31st)

  • When trading began for the final week in January, silver was priced at Rs.42,700 per kg, which was the highest silver rate for this month.
  • Silver prices fell to Rs.42,200 per kg on the 30th - the second day of this week as the US dollar remained strong, thanks to a firm equity market.
  • The 31st too saw silver rates continue at Rs.42,200 as the demand form the previous day continued to flourish.
  • Strong global cues and a strong local demand heralded a record-breaking change in prices for the month of January.
  • Silver price trends witnessed a massive 8.41% incline this month, owing to strong-than-ever sales.

Silver as an Investment

According to experts, demand for silver to make jewelry has, by and large, remained constant at around 20 million ounces a year for the past four to five years. Also, around 25 million ounces of silver has been bought in the country for investment in the past few years. In India, including Nagpur, silver is preferred for its beauty. According to recent estimates, about 25% of the overall silver demand every year caters to silverware alone.

Jewelry - Many investors consider buying silver in the form of jewelry more expensive compared to buying coins. Jewelry comprises making charges (10 per cent and above), melting charges (15 per cent or above while selling), which can prove to be more costly.

Coins - According to experts, silver coins bought from banks are more expensive in that they include packing charges and a certificate. Also, jewelers charge levy casting charges in addition to sales tax.

ETFs - There are no silver ETFs offered in the country. You cannot buy silver in the electronic spot market either. However, you can buy silver ETFs in the US market. Towards the end, you have open an account to invest in global stock markets.

Silver Price Trends in Nagpur

One gram of Silver is currently pegged at Rs. 37.45 in Nagpur. Silver rates in Nagpur have plummeted in the past few months with one gram of silver costing Rs. 38.75 in the month of May. Silver rates in Nagpur have been witnessing fluctuations in that one gram of silver was pegged at Rs.37.95 in the month of April and Rs. 37.85, Rs. 37.95 and Rs. 40.05 in the months of March, February and January respectively this year.

Where do I Buy Silver in Nagpur?

Nagpur has several silver showrooms such as Bhatukbhai Sons, Londhe Jewellers, Pushpalata Jewellers, Shree Krishna Jewellers, Kusum Jewellers, Arun Jewellers and Parekh Bros among many others. While most jewelers in Nagpur do not differ widely in terms of silver rates, you can reduce the other ancillary costs or charges.

Also Check Silver Price in NearBy Cities of Nagpur

Also Know: Gold Rate in Nagpur

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