• Silver Rate In Panaji

    Daily Silver Rates
    Date Silver (1 gram) Bar Silver (1 Kg)
    11 Dec 2018 ₹ 40.7 ₹ 40,700
    10 Dec 2018 ₹ 40.3 ₹ 40,300
    09 Dec 2018 ₹ 40.3 ₹ 40,300
    08 Dec 2018 ₹ 40.3 ₹ 40,300
    07 Dec 2018 ₹ 39.6 ₹ 39,600
    06 Dec 2018 ₹ 39.5 ₹ 39,500
    05 Dec 2018 ₹ 39.6 ₹ 39,600
    04 Dec 2018 ₹ 39.6 ₹ 39,600
    03 Dec 2018 ₹ 39 ₹ 39,000
    02 Dec 2018 ₹ 38.5 ₹ 38,500

    *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 Rate in Panaji

    Panaji, the capital of the tourist capital of India, Goa is a city unlike other, full of culture and old world charm. The city was the gateway for traders into India in the past, serving as a key link in international trade. Silver was used extensively to pay for such trade, with the Arabs, Dutch, Portuguese and British trying to establish base here. Today, the city continues to be a major destination, attracting visitors from all over the globe. Silver prices in Panaji are determined by taking international costs into account, since a majority of the silver consumed here is imported.

    Trend of Silver Rate in Panaji 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 Panaji 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):

    • The silver price in Panaji, at the start of August 2018, commenced at Rs.41,400 per kg. This was the highest the price of silver stood at for the month.
    • Domestic demand for the metal dropped on 2 August causing the price of silver to decline as well. On this day, the metal was recorded at Rs.41,100 per kg, a Rs.300 per kg decline from the start of the month.
    • Silver price in the city the stood stable for a day before spiking by Rs.200 per kg on 4 August. The metal traded at Rs.41,300 that can be associated with the increased demand amongst domestic dealer and industries.
    • On 5 August, the last day of week 1, silver was priced at Rs.41,300 per kg, not being affected by the increased demand that was recorded on the previous day.

    August 2018 - Week 2 (6 - 12):

    • Domestic demand for silver then dipped at the start of week 2, causing silver price in the city to drop to Rs.41,300 per kg.
    • The US economy then experienced positive trends, in turn negatively affecting the value of the dollar. Naturally the silver price in Panaji dropped to Rs.41,200 per kg on 7 August.
    • On 9 August, a substantial gain in the value of silver was recorded after it experienced a decline previously. The silver price in Panaji stood at Rs.41,400 per kg. This also was the highest that the metal was priced for the month of August 2018. The upswing in the value may be associated with the decline the dollar value in comparison with other currencies.
    • After experiencing an uprise in value, the price of silver in Panaji dropped along with domestic demand. As on 10 August, the metal in the city was priced at Rs.41,100 per kg. The metal, throughout the entire month, was determined by the variation in demand for the same.
    • The silver price in Panaji then experienced a high and ended week 2 at Rs.41,200 per kg.

    August 2018 - Week 3 (13 - 19):

    • Week 3 commenced with silver trading at Rs.41,200 per kg, the same as it did at the end of week 2.
    • The price of silver experienced a dip the next day dropping to Rs.40,900. This may have been caused by a decline in demand for silver in the city.
    • Employment data had been released in the US during the course of week 3, causing positive trends in the economy. This increased the value of the dollar, which in turn caused the silver price in Panaji to drop.
    • Even though the dollar rose in value, it had a positive effect on the price of silver. On 15 August, silver rose to Rs.41,100 per kg. However, this did not last long as the price dipped to Rs.39,900 per kg, on 16 August, the very next day.
    • The city of Panaji experienced a spike in silver rates during 17 - 19 August, as it was priced at Rs.40,000 per kg marking a Rs.100 increment to end the third week of August 2018.

    August 2018 - Week 4 (20 - 26):

    • Week 4 began with silver price in Panaji being recorded at Rs.40,000 per kg. This was the same price the metal stood at during the end of week 3.
    • Silver then experienced a rise in value on 22 August as it was recorded at Rs.40,100 - a Rs.100 increment in comparison to the price of silver at the start of week 4.
    • Silver then dipped a couple of points as the dollar rose in value over other currencies. The metal, on 23 August, was trading at Rs.39,900 in Panaji.
    • In the following days of week 4, domestic demand for the metal declined, thereby adversely affecting the price of silver. During this time, silver dropped in value further as it stood at Rs.39,800 per kg.
    • However, at the end of week 4 the price of silver in Panaji increased as it stood at Rs.40,200 per kg on 26 August.

    August 2018 - Week 5 (27 - 31):

    • In the beginning of week 5, silver in Panaji was recorded at Rs.40,200 per kg.
    • The value of silver then rose as domestic demand from industries and jewellers increased during the course of week 5.
    • The silver price in Panaji for the month of August recorded a declining trend of -2.65% as it stood at Rs.40,300 per kg to end week 5 and the month of August 2018.

    Trend of Silver Rate in Panaji 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 (1-7)

    • The price of silver rose briefly towards the end of the first week but the overall trend was one of decline.
    • Trading opened with the white metal priced at Rs.42,800 per kg as local industrial units reduced orders due to fluctuating dollar rates as well as overseas trends.
    • Prices dropped to Rs.42,400 per kg on 3 July on reduced interest from coin makers and traders ahead of the Federal Reserve testimony.
    • Silver prices rose to  Rs.42,800 per kg on 4 July as fears over the impact of the ongoing trade war between US and China led to markets falling steeply.
    • Demand fluctuated for the rest of the week, with silver ending at Rs.42,700 per kg on 7 July.

    July 2018- Week 2 (8-14)

    • Silver prices in Panaji were sluggish in the second week, opening at Rs.42,600 per kg on 8 July.
    • The rupee continued to lose ground to the dollar, which made imports cheaper but reduced retail demand due to the higher price.
    • Prices rose to Rs.42,900 per kg on 9 July as geopolitical tensions and the growing tariff war led investors to look to bullion as a safe-haven asset.
    • The dollar and equity markets recovered as silver prices once more fell to Rs.42,200 per kg on 12 July.
    • There was a slight recovery as the week ended, with silver priced at Rs.42,300 per kg on 14 July.

    July 2018- Week 3 (15-21)

    • There was no change in the price of silver as the third week began with the metal trading at Rs.42,300 per kg on static demand.
    • Following the positive economic outlook indication, speculation of a rate hike led to the US dollar rising as markets also surged on bullish sentiment.
    • Silver prices, on the other hand, did not see much change in price, trading at Rs.42,100 per kg on 17 July.
    • Prices dropped sharply to Rs.41,700 per kg on 18 July as poor demand from local industrial units and the falling rupee affected prices.
    • The drop in price continued as the week progressed in spite of comments criticising the recent rise in the dollar rate.
    • Minor fluctuations in the price were observed before silver ended the week at Rs.41,700 per kg on 21 July.

    July 2018- Week 4 (22-31)

    • Silver price rose by Rs.100 per kg traded at Rs.41,500 per kg on 25 July. The hike in silver prices was mainly due to increase in retail demand for the metal.
    • 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 was the lowest silver rate recorded in the month of Panaji for the month of July.
    • By the end of the month, the price of silver increased as dollar rates dropped slightly. The metal stood at Rs.41,400 on 30 - 31 July.
    • Overall, silver rates in Panaji for the month of July fell by 3.27%.

    Trend of Silver Rate in Panaji 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- 5 June
    Overall Monthly Performance Stable
    Percentage Change 0.00%

    June 2018- Week 1 (1-10)

    • Panaji’s silver rates in the first week of June were stable as industrial demand kept prices from fluctuating too wildly.
    • Silver was priced at Rs.42,800 per kg on stable demand from industrial units.
    • The upcoming summit between the United States and North Korea led to a rally by the dollar, which led to a drop in demand for silver prices to Rs.42,600 per kg on 2 June.
    • Local industrial offtake fluctuated based on the dollar rate, as the rupee fell heavily against the dollar for most of the week.
    • Prices did not change for the rest of the week, with silver trading at Rs.43,700 per kg on 10 June.

    June 2018- Week 2 (11-17)

    • The upcoming summit between the United States and China led to some volatility across currency markets and bullion demand.
    • The industrial metal opened the second week at Rs.43,900 per kg on 11 June as local coin makers rekindled interest in silver.
    • Silver prices jumped to Rs.44,000 per kg on 12 June due to market volatility across currency markets, which resulted in a rise in demand for safe-haven assets.
    • Prices rose to Rs.45,000 per kg on 15 June as investors flocked to bullion, fearing a trade war as the dollar rate fell sharply.
    • Prices stabilised as the week ended on steady trading, with silver priced at Rs.44,300 per kg on 17 June.

    June 2018- Week 3 (18-24)

    • The third week saw silver trade at Rs.43,400 per kg in Panaji on 18 June due to price fluctuations as a result of unstable market conditions.
    • The fall in the dollar rate led to a slight rise in silver demand, but the recovering equity markets meant that gains were capped.
    • The white metal’s value fell to Rs.42,900 per kg on 21 June on increased short-selling ahead of the Fed meeting, cautious of an interest rate hike announcement.
    • Demand from local industrial units also fell due to the plummeting rupee, though overseas demand, especially from Asian industry, remained consistent.
    • There was some fluctuation in prices towards the end of the week, though silver did not see much change in price.

    June 2018- Week 4 (25-30)

    • There was a steady drop in the price of silver due to low industrial offtake, with both local and overseas orders slowing down due to the stable dollar.
    • Volatility marked silver trading this week, with the metal priced at Rs.43,200 per kg when trading opened on 25 June.
    • Prices dipped as the week progressed, with the industrial metal’s price falling to Rs.43,100 per kg on 26 June amid a gradual decline in orders from coin makers.
    • WIth the  upcoming Federal Reserve meeting and the possibility of an imminent interest rate hike, silver prices dropped to Rs.42,800 per kg on 29 June and stayed constant till the end of the month.
    • Demand was unchanged due to market forces that led to silver ending at the same price it opened.

    Trend of Silver Rate in Panaji 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)

    • Demand for silver was on the increase in the first week of May, with the metal opening the week at Rs.42,000 per kg.
    • Increased demand from industrial units as well as a volatile dollar rate led to a gradual rise in price, with the industrial metal trading at Rs.42,600 per kg on 2 May.
    • Increased tensions between the United States and China over trade led to fluctuating fortunes on the market, which led to higher demand for bullion.
    • Prices remained high as steady demand from local industrial units coupled with positive market cues kept silver rates consistent.

    May 2018- Week 2 (7th-13th)

    • The second week began with silver trading at Rs.43,200 per kg on 7 May in Panaji, as the dollar was volatile ahead of U.S. jobs data.
    • Demand rose steadily as favourable market conditions as well as a low dollar rate led to an increase in orders from overseas as well as local industrial units.
    • Prices rose to Rs.43,500 per kg on 11 May as renewed tensions between the U.S. and China led to the dollar falling, as investors looked to bullion as a safe-haven asset.
    • Demand was consistent as the week ended on 13 May, though there was a slight drop in local industrial demand due to the high price.

    May 2018- Week 3 (14th-20th)

    • The third week began with silver trading at Rs.43,600 per kg on 14 May as overseas demand for safe-haven assets like bullion grew due to uncertainty over a possible trade war.
    • Prices regularised over the course of the week, with silver rates falling to Rs.43,000 per kg on 16 May amidst a recovery across stock markets.
    • The possibility of an interest rate hike as early as next month led to growing confidence in the dollar, as demand for bullion gradually fell.
    • Local demand was also on the decline, as silver traded at Rs.43,200 per kg on 18 May.
    • The week ended with silver priced at Rs.43,100 per kg on 20 May as coin makers increased demand.

    May 2018- Week 4 (21st-27th)

    • There was no change in the price of silver as the fourth week began on 21 May, as local demand was stable in spite of a rise in the dollar rate.
    • Prices rose as the fear of the imminent North Korea and U.S. talks being called off led to panic across stock markets, with the dollar also plunging.
    • Silver prices rose to Rs.43,800 per kg on 25 May as the markets continued to trade low in light of the cancellation of the summit.
    • Local demand rose marginally as the week progressed, though silver prices fell to Rs.43,600 per kg as the week ended on 27 May.

    May 2018- Week 5 (28th-31st)

    • The last week of May saw silver prices fall significantly as the summit between the U.S. and North Korea was back on, which boosted the dollar.
    • Silver was priced at Rs.43,000 per kg on 28 May, as demand weakened sharply over the weekend.
    • Prices rose marginally as silver traded at Rs.43,100 per kg on 29 May amidst a rise in local demand, though the rise was shortlived.
    • Silver fell heavily on 30 May, trading at Rs.42,900 per kg as overseas demand was static due to the stable dollar.
    • The month ended with silver priced at Rs.43,100 per kg on 31 May to record a 2.61% rise in value.

    Trend of Silver Rate in Panaji 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)

    • Silver opened at Rs.41,400 per kg in Panaji on 01 April 2018.
    • As the demand from local industrial units and coin makers kept pouring, silver prices remained stable in the following days.
    • The demand for bullion increased as equity market performed poorly due to the ongoing trade talks between the United States of America and China.
    • On 3 April, silver price in Panaji rose to Rs.41,600 per kg.
    • Silver prices succumbed to strong U.S Dollar and the lowest silver rate for the month of April in Panaji was recorded on 5 April when the metal traded at Rs.41,000 per kg.
    • A minor drop in demand led to silver rate in Panaji ending the week trading at Rs.41,200 per kg on 7 April.

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

    • Throughout the second week of April, the demand for silver grew due to wildly fluctuating equity markets and currency markets.
    • Silver opened at Rs.41,200 per kg on 8 April.
    • Tensions between the U.S. and North Korea had a great impact on the equity market predictions and led to profit-booking by some investors.
    • On 11 April, silver price in Panaji rose to Rs.41,700 per kg.
    • The increase in silver prices was because of investors choosing to invest in safe-haven assets like gold and silver as the suspected chemical attack in Syria negatively affected the equity market.
    • On 12 April, silver rate in Panaji rose to Rs.42,000 per kg.
    • Silver closed at Rs.41,900 per kg as demand from industrial units dropped.

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

    • Prices rose to Rs.42,100 per kg on the first day of the week.
    • As the dollar rate remained poor, demand for bullion rose. Thus, silver prices rose to Rs.43,700 per kg on 19 April.
    • The highest silver rate in Panaji for the month was recorded on 20 and 22 April when the metal traded at Rs.43,800.
    • As the local demand remained steady, silver price in Panaji were stable throughout the week.
    • 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. However, no major fluctuations in silver prices were reported.
    • On 22 April 2018, silver closed at Rs.41,900 per kg.

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

    • Lack of demand from local industrial units and coin makers caused silver rate in Panaji to fall in 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.
    • On 23 April, silver opened at Rs.43,700 per kg. Though an increase of Rs.1,800 per kg was seen, silver prices quickly dropped in the following days due to poor demand.
    • As tensions between China and the U.S. appeared to be easing, equity markets and the dollar rose, leading to lower imports of silver.
    • Silver price in Panaji further fell to Rs.42,800 per kg on 28 April before finally settling at Rs.42,300 per kg on 30 April.

    Trend of Silver Rate in Panaji 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):

    • When trading began in Panaji, the industrial metal was recording trading firm at Rs.41,100 per kg on the 1st.
    • Demand for the metal surged in the bullion market due to uneven performances by the equity markets as the week progressed.
    • On the 2nd, prices rose to Rs.41,400 per kg after an incline in industrial offtake was recorded following a bearish run by the US dollar.
    • The 3rd saw silver prices rising further to Rs.41,600 per kg with domestic stock markets tumbling amid the weakened US dollar.
    • Silver rates remained untouched at Rs.41,600 per kg for the rest of the week with the bullion market tracking a firm trend overseas.

    March 2018 – Week 2 (5 – 11):

    • The week opened with the white metal prices holding steady at Rs.41,600 per kg on the 5th with consistent demand for the metal.
    • However, a decline in industrial demand at the global level led to silver rates dropping to Rs.41,400 per kg on the 6th.
    • The 7th witnessed silver rates rebounding to Rs.41,900 per kg after demand from investors and traders inclined with the US dollar index losing against other apex currencies.
    • With the US dollar regaining lost ground amid well-performing equities, demand for the metal subsided. This led to silver being priced at Rs.41,500 per kg on the 8th which plunged further to Rs.41,300 per kg on the 9th amid the poor overseas trends.
    • Demand, however, picked up as the week progressed after the US dollar tumbled amid market uncertainties and silver was recorded trading at Rs.41,600 per kg on the 11th when the week came to an end.

    March 2018 – Week 3 (12 – 18):

    • Silver trade in Panaji saw prices dropping significantly due to a bullish performance by the US dollar during the week.
    • Silver was priced at Rs.41,600 per kg on the 12th, when the week began with firm trends from the previous week.
    • With the stronger than expected US jobs and payrolls’ data indicating a rise in the number of jobs contributing to the US economy, the greenback surged. This led to silver rates dropping to Rs.41,400 per kg on the 13th.
    • Though prices rebounded to Rs.41,700 per kg on the 14th as the dollar tumbled after the sudden dismissal of the US Secretary of State, speculations over a possible Fed rate hike during the next week led to dollar rebounding and silver was recorded trading at Rs.41,500 per kg on the 15th.
    • Poor trends overseas compounded with reduced domestic demand from local industrial units and coin makers resulted in prices plummeting to Rs.41,300 per kg and 41,100 per kg on the 16th and the 17th respectively.
    • The week concluded with the industrial metal trading at Rs.41,100 per kg on the 18th as demand remained low with international markets expecting a rise in the US interest rates during the central bank’s monetary policy meeting next week.

    March 2018 – Week 4 (19 – 25):

    • Trading opened for the week with the white metal priced relatively lower at Rs.41,000 per gram on the 19th following a slight decline in demand from the previous week.
    • Thanks to an increase in demand from local coin manufacturers and industrial units, prices surged to Rs.41,200 per kg on the 20th.
    • Though rates plunged to Rs.41,000 per gram the next day, silver prices soon rebounded with investors and traders banking on the metal to hedge against the uneven equities and the metal was recorded trading at Rs.41,500 per kg on the 22nd.
    • With markets cautious ahead of the US Federal Bank monetary policy announcement on future Fed rate hikes, demand for the white metal remained strong over the next few days. Silver was priced at Rs.41,600 per kg on the 23rd amid the firm overseas trends.
    • The week came to an end with prices remaining untouched at Rs.41,600 per kg on the 25th with the bullion market following strong trends overseas.

    March 2018 – Week 5 (26 – 31):

    • The last week commenced with silver prices holding at Rs.41,600 per kg on the 26th with steady demand amid firm global cues.
    • With tensions rising between the US and Russia, investors gravitated towards assets considered safer such as gold and silver. This led to prices surging to Rs.41,800 per kg on the 27th.
    • The 28th, however, saw the dollar regaining lost ground from its previous rally of losses and rose against a basket of currencies amid the recovering equity markets. This led to silver rates in Panaji dropping to Rs.41,500 per kg on the 28th which plummeted further to Rs.41,400 per kg on the 29th.
    • Trading concluded for the month with the white metal trading firm at Rs.41,400 per kg on the last day with subdued but steady demand from local industries and coin makers amid positive global cues.
    • Panaji recorded an incline of 0.72% in silver trade during the course of the month.

    Trend of Silver Rate in Panaji 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 Panaji 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 Panaji 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 Panaji 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 Panaji 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 Panaji 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 price in Panaji 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 Panaji 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 prices 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 Panaji 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 price in Panaji rebounded to Rs.41,400 per kg the next day with an increase in demand from local industries and coin manufacturers.
    • Prices 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 prices in Panaji were recorded holding at Rs.41,600 per kg on the 26th.
    • Silver rate in Panaji 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 Panaji registered a loss of 3.28% during the course of the month.

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

    Parameters Silver price (per kg)
    Silver Rate on 1st January 2018 Rs.39,100 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.38,700 per kg on 10 and 11 January
    Overall Monthly Performance Incline
    Percentage Change 7.92%

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

    • Silver was priced at Rs.39,100 per kg when trading began on the first day of January 2018.
    • Due to steady demand from local coin makers and industrial units, silver prices in Panaji remained at Rs.39,100 per kg on the 2nd day of this week.
    • As the US dollar seemed to strengthen, silver prices in the state took a hit and fell by Rs.300 to Rs.38,800 per kg on the 3rd of January.
    • Demand held steady on the 4th, as a result of which, silver rate in Panaji remained at Rs.38,800 per kg when trading ended for the day.
    • The drop in demand was due to the jobs data, which was expected to hit the markets this week. Rates remained the same on the next day as well as investors exercised caution when making purchases.
    • However, demand rose on the 6th and prices went up to Rs.39,200 per kg - a Rs.400 per kg hike -  as the data was weaker than expected.
    • When the week ended, silver rates in Panaji were recorded at Rs.39,200 per kg.

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

    • The second week of January began with silver still trading at Rs.39,200 per kg.
    • On the 9th, silver rate in Panaji dropped slightly to Rs.39,100 per kg. This happened because the dollar improved and demand for the metal declined.
    • The 10th again saw silver prices drop - this time to Rs.38,700 per kg - as a rising US dollar continued to affect precious metal trading.
    • Silver was still trading at Rs.38,700 per kg on the 11th but dropped started on a upward path to trade at Rs.38,900 per kg on the 12th of the month.
    • As the US dollar weakened after a brief surge, silver prices went further up to Rs.39,200 per gram on the 13th of January.
    • Silver rates were recorded at Rs.39,200 per gram on the final day of this week.

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

    • When the third week started on the 15th, silver prices had seen little change and it was seen trading at Rs.39,200 per kg.
    • Due to stable from local investors, the metal continued to trade at Rs.39,200 per kg before rising to Rs.39,600 per kg on the the 17th.
    • The US dollar regained some of the lost ground, which put bullion trading on the backburner. The white metal traded at Rs.39,100 per kg on the 18th of the month.
    • Over the next three days, i.e., from the 19th to the 21st, silver continued at Rs.39,100 per kg as demand was low but steady.

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

    • The fourth week of January bore witness to a few changes in prices as markets remained largely stable.
    • On the 22nd of January, when the week began, silver was priced at Rs.39,100 per kg which then rose to Rs.39,200 per kg the next day due to a slight change in demand.
    • There was very few changes in demand over the course of the week as there were no major drivers which would otherwise impact trading patterns.
    • On the 24th of the month, silver was trading at Rs.39,200 per kg and went on to sell at this rate on the 25th of the month as well.

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

    • The final week of January 2018 bore witness some changes in prices, which was the cause of change in the USD- INR dynamic.
    • On the 29th of January, the white metal was priced at Rs.42,700 per kg - a significant rise compared to the trading rates over the course of the previous week.
    • The 30th saw silver price in Panaji drop to Rs.42,200 per kg - a Rs.500 decline as demand for the metal took a nosedive as the latest Federal Reserve meeting approached.
    • When the month ended, silver was seen trading at Rs.42,200 per kg.
    • Overall, silver prices changed by a massive 7.92% this month due to a number of factors. The US dollar was largely underperforming and local demand surged as a result.

    Trend of Silver Rate in Panaji for December 2017 (rates per kg)

    Parameters Silver price (per kg)
    Silver Rate on 1st December 2017 Rs.38,300 per kg
    Silver Rate on 31st December 2017 Rs.38,700 per kg
    Highest Rate in December Rs.38,700 per kg from 29 to 31 December
    Lowest Rate in December Rs.36,800 per kg on 13 December
    Overall Monthly Performance Incline
    Percentage Change 1.04%

    December 2017 - Week 1 (1st to 10th)

    • In Panaji, the week opened with silver trading at Rs.38,300 per kg on the 1st amid firm overseas trends.
    • Silver rate in Panaji surged to Rs.38,500 per kg on the 2nd with the US tax reform plan stalled by the US Senate.
    • Thanks to steady demand from industries and coin makers amid the weakened dollar, prices remained unchanged at Rs.38,500 per kg until the 7th.
    • The 8th, however, saw silver rate in Panaji plunging to Rs.36,800 per kg with the US dollar gaining against other apex currencies after the US Senate decided to pass the Republican tax bill.
    • When the week concluded, the white metal prices were recorded holding at Rs.37,100 per kg on the 10th with an incline in domestic buying by industrial units and coin manufacturers amid the positive overseas trends.

    December 2017 - Week 2 (11th to 17th)

    • When trading commenced for the second week, the industrial metal was priced at Rs.37,000 per kg on the 11th due to a slight decline in demand from the previous week.
    • Demand, however, plunged further to Rs.36,800 per kg on the 13th with the US dollar gaining against other major currencies in the global markets.
    • The 14th saw silver rate in Panaji rebounding to Rs.37,500 per kg following the Fed rate hike which pushed the US dollar and equities lower.
    • But with the dollar picking up on the 15th, demand for the metal declined. This led to the industrial metal being priced at Rs.36,900 per kg.
    • With investors and stockists mulled over by the final result of the tax overhaul on the US economy, rates rebounded to Rs.37,200 per kg on the 16th.
    • Steady demand coupled with firm trend overseas led to silver price in Panaji remaining unchanged at Rs.37,200 per kg for the remainder of the week.

    December 2017 - Week 3 (18th to 24th)

    • The week began with the white metal trading steady at Rs.37,200 per kg on the 18th amid positive overseas trends.
    • Strong global cues coupled with an increased domestic demand for the metal resulted in silver prices surging to Rs.37,500 per kg on the 19th.
    • Rates remained unaltered at Rs.37,500 per gram on the 20th before rising to Rs.37,600 per kg the following day with an incline in demand from coin manufacturers and industrial units.
    • The 22nd saw price in Panaji plunging to Rs.37,400 per kg with the US dollar gaining against other apex currencies in the world market.
    • The newly released US tax cuts led to the Asian stocks declining. This resulted in silver prices rebounding to Rs.37,700 per kg on the 23rd.
    • The week ended with the industrial metal trading steady at Rs.37,700 per kg on the 24th owing to strong demand from coin manufacturers and industrial units.

    December 2017 - Week 4 (25th to 31st)

    • The final month of the year began with the white metal priced at Rs.37,700 per kg on the 25th with steady demand from the previous week.
    • Silver rate in Panaji surged to Rs.37,900 per kg on the 26th before rising further to Rs.38,200 per kg on the 27th due to an increase in demand from coin makers and industries amid the positive overseas trends.
    • Prices continued to rise amid the weakened US dollar and poorly performing equities as the week progressed. This led to silver being priced at Rs.38,600 per kg on the 28th.
    • The month concluded with the industrial metal prices holding firm at Rs.38,700 per kg on the 31st with steady demand from industrial units and coin makers.
    • Panaji registered a profit of 1.04% in silver trade owing to the strong trends overseas during the course of the month.

    Trend of Silver Rate in Panaji for November 2017 (rates per kg)

    Parameters Silver price (per kg)
    Silver rate on 1st November 2017 Rs.39,300 per kg
    Silver rate on 30th November 2017 Rs.38,500 per kg
    Highest Rate in November 2017 Rs.40,100 per kg on 20 November
    Lowest Rate in November 2017 Rs.38,500 per kg on 30 November
    Overall Monthly Performance Decline
    Percentage Change -2.03%

    November 2017 - Week 1 (1st - 5th)

    • When trading opened for November, silver was priced at Rs.39,300 per kg.
    • Demand remained largely steady this week in Panaji, which led to rates holding at mostly the same rates.
    • From the 2nd to the 5th, silver rates in Panaji were recorded at Rs.39,300 per kg, thanks to consistent demand from local markets.

    November 2017 - Week 2 (6th - 12th)

    • The second week began with silver in Panaji still trading at Rs.39,300 per kg.
    • On the 7th, however, silver prices increased to Rs.40,000 as local trading was affected by global cues and a weak US dollar.
    • But, as the greenback bounced back, silver rates dropped to Rs.39,800 per kg on the 8th of the month.
    • Rates fluctuated quite a bit this week, with the metal trading at Rs.39,900 per kg on the 9th and then dropping to Rs.39,700 per kg on the 10th.
    • There was a steadying of prices witnessed on the 11th and the white metal traded at Rs.39,800 per kg.
    • When the week ended, silver was still trading at Rs.39,800 per kg.

    November 2017 - Week 3 (13th - 19th)

    • Silver rates remained unchanged for most of this week, as demand from local industries and coin makers remained consistent.
    • When trading began in Panaji for the 13th of November, silver was priced at Rs.39,800 per kg.
    • The 14th saw silver rates remain unchanged but increase slightly to Rs.39,900 per kg on the 15th of the month.
    • On the 17th, silver prices in Panaji dropped back down to Rs.39,800 per kg due to low demand.
    • When the week ended, silver was still trading at Rs.39,800 per kg.

    November 2017 - Week 4 (20th - 26th)

    • This week started on a high note, with silver rates at their highest for the month, at Rs.40,100 per kg.
    • But, after that sudden surge, the white metal’s prices dropped down to Rs.39,600 per kg on the 21st of November.
    • Rates fluctuated a little this week with the metal trading at Rs.39,700 per kg on the 23rd and then at Rs.39,800 per kg on the 24th.
    • However, a resurgent dollar and poor local cues pushed prices down to Rs.39,500 per kg on the 25th of the month.
    • During the closing hours of the week, silver was still trading at Rs.39,500 per kg.

    November 2017 - Week 5 (27th - 30th)

    • When the last week of November started, silver prices were recorded at Rs.39,700 per kg.
    • But rates dropped to Rs.39,500 per kg on the 28th as demand began to fall.
    • Silver rates fell again to trade at Rs.39,200 per kg on the penultimate day of the month as there was no sign of the demand increasing.
    • On the final day of November, silver rates dropped by Rs.700 to bring it down to Rs.38,500 per kg.
    • A weak local demand and a resurgent US dollar caused silver rates in Panaji to drop by 2.03%.
    Parameters Silver price (per kg)
    Silver rate on 1st October 2017 Rs.39,800 per kg
    Silver Rate on 31st October 2017 Rs.39,300 per kg
    Highest Rate in September Rs.40,500 per kg on 16 October
    Lowest Rate in September Rs.39,100 per kg on 7 and 8 October
    Overall Monthly Performance Decline
    Percentage Change -1.25%

    October 2017 - Week 1 (1st - 7th)

    • When trading for silver began in Panaji, there was no change in rates. The metal opened at Rs.39,800 per kg on the 1st of October.
    • There was a drop of Rs.200 per kg on the 2nd, and the metal was being sold at Rs.39,600 per kg. This was because of a poor local demand, which wasn’t at par with the expected figures.
    • Silver rate in Panaji dropped again on the and the white metal’s prices fell to Rs.39,400 per kg as demand from the domestic market remained subdued, while in the other shores, the US dollar surged.
    • The 4th and 5th saw silver rates in Panaji rise to Rs.39,500 - a slight improvement compared to the previous day’s affairs.
    • Demand failed to pick up over the final two days as the US dollar gained further to push silver prices down to Rs.39,100 per kg - the lowest recorded rate for the month.

    October 2017 - Week 2 (8th - 14th)

    • Silver opened for the second week with little change seen in prices.
    • On the 8th of October, the white metal was seen trading at Rs.39,100 per kg. This then surged to Rs.39,800 per kg on the 9th as a minor turmoil in the US saw silver rates surge.
    • A rise in local demand saw silver price in Panaji rise again to Rs.40,100 per kg on the 10th before continuing at the same rate for the next two days of this week.
    • The 13th saw silver rates in Panaji rose again to Rs.40,300 per kg on the 13th - which remained the rate when the week drew to a close the next day.

    October 2017 - Week 3 (15th - 21st)

    • The third week of October saw silver rates drop before increasing over the initial two days.
    • On the 15th, the white metal was seen trading at Rs.40,300 per kg. This then hit Rs.40,500 per kg on the 16th, thanks to a solid demand for the metal.
    • However, a dip in local demand brought about by weak global cues pushed the metal’s rates down to Rs.40,200 per kg.
    • The 18th also saw silver price in Panaji drop - for the third consecutive day - to trade at Rs.40,000 per kg.
    • From the 19th to the 21st, silver rates remained at Rs.39,800 per kg as local demand dipped but stabilised.

    October 2017 - Week 4 (22nd - 31st)

    • Silver demand remained weak over the final few of the month as well, owing to poor domestic demand.
    • When the week began on the 22nd, the white metal was seen trading at Rs.39,800 per kg. This then dropped to Rs.39,700 per kg the next day and was steady on the 24th as well.
    • The upcoming Diwali season didn’t seem to help much with local demand either, and sales continued to remain on the lower side.
    • When the week and month ended, the white metal’s prices were down to Rs.39,300 per kg.
    • All in all, the month of OCtober saw silver rate in Panaji drop by 1.25% - owing to a poor industrial demand locally and a weak overseas trend.
    Parameters Silver price
    Silver rate on 1st September 2017 Rs.40,000 per kg
    Silver rate on 30th September Rs.39,800 per kg
    Highest Rate in September Rs.41,800 per kg on 8 September
    Lowest Rate in September Rs.39,500 per kg on 27 September
    Overall Monthly Performance Decline
    Percentage Change -0.5%

    September 2017 - Week 1 (1st-10th)

    • When the week began, silver was trading at Rs.40,390 per kg on the 1st of September.
    • Prices remained at Rs.40,390 per kg on the next couple of days with sustained demand for the metal from industrial units and coin manufacturers.
    • Silver rates in Dehradun rose to Rs.41,075 per kg on the 4th as the US dollar rate weakened.
    • Demand for the metal rose with coin makers and industries ramping up purchases to boost their inventories and silver was priced at Rs.41,495 per kg on the 6th.
    • However, metal prices slipped to Rs.41,130 per kg on the 7th due to an unexpected decline in local demand.
    • The 9th witnessed silver rates in Dehradun surge to Rs.41,900 per kg as safe-haven investments inclined both globally, as well as locally after North Korea confirmed its successful thermonuclear tests.
    • Rates remained unchanged at Rs.41,900 per kg with positive safe-haven investments on the 10th.

    September 2017 - Week 2 (11th-17th)

    • The second week opened in Dehradun with the industrial metal trading at Rs.41,075 per kg on the 11th, before it dropped to Rs.41,030 per kg on the 12th due to reduced local demand.
    • With the US-North Korea relations worsening, silver prices in Dehradun rose on the 13th to Rs.41,075 per kg.
    • Despite positive global trends, local demand declined as coin makers and investors delayed purchases which led to silver dropping to Rs.40,890 per kg on the 14th.
    • The rest of the week saw the metal trading at Rs.40,890 per kg with steady demand from coin manufacturers and industrial units.

    September 2017 - Week 3 2017 (18-24):

    • Silver opened the week relatively low at Rs.40,440 per kg on the 18th.
    • Demand dropped against the strong dollar rates and prices dropped to Rs.39,680 per kg on the 19th.
    • The continued dispute between the US and North Korea led to safe-haven investments rising around the world. This led to silver rates in Dehradun rising to Rs.40,060 per kg on the 20th.
    • Local demand for the metal reduced and silver prices dropped to Rs.39,670 per kg the next day.
    • Steady and sustained demand for the metal resulted in silver trading at Rs.39,670 per kg for the remainder of the week.

    September 2017 - Week 4 (25th-30th)

    • The last week in Dehradun opened with the metal trading at Rs.39,670 per kg on the 25th.
    • Silver price in in Dehradun surged to Rs.40,520 per kg with the arrival of the festive season on the 26th as retail consumers boosted silver purchases in the domestic market.
    • However, recovery of the US economy proved to be unfavourable for silver trade and led to silver rates falling to Rs.39,780 per kg on the 27th.
    • Uneven global trends and reduced local demand resulted in the metal prices dropping to Rs.39,530 per kg on the 28th.
    • The rest of the week witnessed silver rate in Dehradun remaining unchanged at Rs.39,530 per kg, thanks to sustained local demand from industrial units and coin manufacturers.
    Parameters Silver price (per kg)
    Silver Rate on 1st August Rs.38,900 per kg
    Silver Rate on 31st August Rs.40,000 per kg
    Highest Rate in August Rs.40,200 per kg on 29 August
    Lowest Rate in August Rs.37,500 per kg on 7 to 9 August
    Overall Monthly Performance Incline
    Percentage Change 2.82%

    August 2017 - Week 1 ( 1st - 6th)

    • Goa’s capital Panaji saw silver rates gain compared to the previous month - July. However, going by the first week’s trading performance, there was little indication to suggest that.
    • When the week began, silver was priced at Rs.38,900 per kg. But, rates dropped to Rs.38,500 per kg on the 2nd as the European and the American markets were strong, which led to a fall in demand.
    • Silver price in Panaji fell for the third consecutive day to drop to Rs.38,100 per kg as demand for the metal was subdued by well-performing economies.
    • A slump in the US dollar rates on the 4th saw silver prices rise to Rs.38,400 per kg. This improvement was, however, cut short by a resurgent dollar on the 5th as rates dropped to Rs.37,800 per kg.
    • The week came to an end with the metal still trading at Rs.37,800 per kg.

    August 2017 - Week 2 (7th - 13th)

    • During this week, silver price in Panaji remained low while demand was steady. The initial few days saw no change in prices but a rise in local demand pushed prices up towards the end of the week.
    • On the 7th, the white metal was being traded at Rs.37,500 per kg. Due to a low demand brought about by strong western economies, silver rates remained at Rs.37,500 per kg on the 8th and the 9th of August.
    • The 10th, though, saw silver rate in Panaji rise considerably to Rs.38,900 per kg as demand from coin makers surged.
    • This demand was holding steady, which subsequently pushed silver rates up to Rs.39,500 per kg on the 11th.
    • The week ended with silver still trading at Rs.39,500 per kg, thanks to sustained buying from domestic investors.

    August 2017 - Week 3 (14th - 20th)

    • When trading commenced for this week, silver was still trading at Rs.39,500 per kg.
    • Prices remained steady till the 17th for the metal to trade at Rs.39,500 per kg.
    • But, as demand dipped down amidst a strong dollar performance, silver price in Panaji went down to Rs.39,300 per kg on the 18th.
    • However, there was a small hike in prices as silver traded at Rs.39,400 per kg on the 19th. This was due to a sporadic demand for the metal.
    • When the week came to an end, silver was still priced at Rs.39,400 per kg.

    August 2017 - Week 4 (21st - 27th)

    • This week saw silver price in Panaji fluctuate due to a strong fluctuation in demand.
    • On the 21st, the white metal was priced at Rs.39,100 per kg. This then rose to Rs.39,400 per kg on the 22nd as domestic demand went up.
    • Prices fell to Rs.39,200 per kg on the 23rd before increasing to Rs.39,400 per kg as demand from industrial units and coin makers rose.
    • By the end of the week, silver prices were seen holding at Rs.39,500 per kg.

    August 2017 - Week 5 (28th - 31st)

    • Silver rate in Panaji fluctuated this week due to uneven demand in the local market.
    • When trading started on the 28th, the white metal was priced at Rs.39,600 per kg.
    • But, prices went up to Rs.40,200 per kg on the 29th as investor demand - both from industrial units and coin makers - went up considerably.
    • Silver rate in Panaji fell slightly to Rs.40,100 per kg on the 30th and then to Rs.40,000 per kg on the final day of the month as investors backed out slowly.
    • A robust demand from local circles led to silver price in Panaji inclining at a rate of 2.86% for this month.
    Parameters Silver price (per kg)
    July 1st Rate Rs.39,600 per kg
    July 31st Rate Rs.38,700 per kg
    Highest Rate in July Rs.39,600 per kg from 1 to 3 July
    Lowest Rate in July Rs.36,700 per kg on 14 July
    Overall Monthly Performance Decline
    Percentage Change -2.27%

    July ‘17- Week 1 (1 to 9)

    • The G20 summit had a negative effect on silver prices in Panaji during the first week of July.
    • Silver started at Rs.39,200 per kg.
    • Silver managed to remain stable from the first to the 03rd of July as the demand from the domestic market was stable.
    • On the 4th of July, silver prices dipped to Rs.38,800 per kg as the international market was effected before the much awaited American independence day.
    • On the 7th July, silver prices dipped further and traded at Rs.38,000 per kg as the G20 summit led investors to be cautiously optimistic.
    • As the demand dropped, silver prices dipped further and traded at Rs.37,700 per kg on the last day of the week.

    July ‘17- Week 2 (10 to 16)

    • Silver prices did not see major fluctuations in the second week of July.
    • On the first day of week 2, silver prices dropped and traded at Rs.37,000 per kg due to strong U.S dollar.
    • Though prices increased to Rs.38,000 per kg on the 12th of July, it fell on the 14th to its lowest.
    • U.S. jobs data proved that unemployment level was decreasing in the U.S which boosts the market and economy as a whole which made silver prices fall to Rs.36,700 per kg, which is the lowest recorded silver rate for this month.
    • Silver prices traded at Rs.37,300 per kg on both 15th and 16th of July.

    July ‘17- Week 3 (17 to 23)

    • This week saw slight increase in silver prices as industrial demand picked up and coin makers started buying.
    • Silver opened at Rs.37,400 per kg.
    • As the U.S dollar value dropped under Trump’s administration, silver prices rose and traded at Rs.37,800 per kg on 18th, 19th, and 20th of July.
    • A slight was seen on 21st of July when silver prices increased by Rs.100 per kg.
    • Silver prices increased on the 22nd of July as demand picked up.
    • Silver closed at Rs.38,400 per kg.

    July ‘17- Week 4 (24 to 31)

    • Slight fluctuations were noted in the last week of July in terms of silver prices.
    • Silver commenced at Rs.38,300 per kg.
    • Silver prices dropped by Rs.200 on the 26th of July as demand eased.
    • Silver prices soon recovered and traded at Rs.38,700 per kg on the 27th of July.
    • Though silver prices dropped to Rs.38,300 per kg due to weak trend overseas, it quickly came back to Rs.38,700 per kg.
    • In spite of a rise in price towards the end of the month, silver prices fell by 2.27%.
    Parameters Silver price
    June 1 Rate Rs.40,500 per kg
    June 30 Rate Rs.39,100 per kg
    Highest Rate in June Rs.40,600 per kg from 5-8 June
    Lowest Rate in June Rs.38,600 per kg on 20 & 21 June
    Overall Monthly Performance Decline
    Percentage Change -3.45%

    June 2017 - Week 1 (1st - 4th)

    • In Panaji, when trading began for the month of June, silver was priced at Rs.40,500 per kg.
    • Silver price in Panaji fluctuated quite a bit due to significant changes in demand in the domestic market.
    • However, due to markets strengthening - silver prices fell to Rs.39,800 per kg - a Rs.700 drop - in just a day’s time.
    • As demand went up on the 3rd, silver prices went up to Rs.40,400 per kg and remained unchanged on the 4th, as demand remained steady.

    June 2017 - Week 2 (5th - 11th)

    • The second week of June saw silver price in Panaji climb as US markets took a hit after various Donald Trump controversies came to the fore.
    • On the 5th of June, silver was priced at Rs.40,600 per kg as there was plenty of positive cues from the global bullion market.
    • Rates remained stable for the next couple days as the US market data signalled a slow economic growth.
    • By the 9th of June, silver rate in Panaji were down to Rs.40,200 per kg as markets recovered from their brief period of losses.
    • Prices had dropped further by the end of the week to trade at Rs.39,800 per kg on the 11th of June.

    June 2017 - Week 3 (12th - 18th)

    • The third week of June beginning on the 12th saw silver prices drop considerably as demand from various industrial units took a hit.
    • Prices fluctuated considerably during this week due to unstable demand from local investors.
    • On the 12th of June, silver was trading at Rs.39,700 per kg.
    • As the US dollar strengthened, silver prices fell in the international market and subsequently India as investors backed out in hordes.
    • Prices remained at Rs.39,200 per kg till the 14th - thanks to a sustained purchasing interest from industrial units and coin makers.
    • When the week came to an end on the 18th, silver price in Panaji had decreased to Rs.39,000 per kg as demand failed to pick up as US dollar rallied further.

    June 2017 - Week 4 (19th - 25th)

    • Silver prices failed to recover when the fourth week of June began and started trading at Rs.38,700 per gram instead. The day’s price was a Rs.300 decline from the previous day’s rates.
    • The white metal’s prices dropped on the 20th as well as domestic demand seemed to fall further after industrial units seemed to refrain from investing.
    • On the 21st, silver prices remained unchanged as the metal was still seen trading at Rs.38,400 per kg.
    • Prices improved marginally on the 22nd as they went up to Rs.38,900 per gram but fell the next day.
    • During the last day of June week 4, silver was priced at Rs.39,000 per kg.

    June 2017 - Week 5 (26th - 30th)

    • Silver prices in Panaji fluctuated during the last week of June.
    • On the 26th of June, silver was priced at Rs.39,000 per kg, but as there were several unclear cues from the global market, prices fell the next day.
    • The 27th saw silver rates drop to Rs.38,700 per kg as demand seemed to be flatlining.
    • As some end of the month cues arrived, silver prices seemed to increase considerably to reach Rs.39,300 per kg on the 28th of June.
    • When the end of the month approached, silver prices had fallen again due to haphazard cues and poor demand from the domestic market.
    • On the last day of the month, silver was trading at Rs.39,100 per kg.
    • In Panaji, silver prices were affected significantly as they changed at a rate of 3.45% for the month of June - one of the worst figures since demonetisation circa November, 2016.
    Parameters Silver Price in Panaji
    May 1 Rate Rs.40,600 per kg
    May 31 Rate Rs.40,500 per kg
    Highest Rate in May Rs.40,600 per kg on 1 May
    Lowest Rate in May Rs.38,100 per kg on 10 & 11 May
    Overall Performance Decline
    Percentage Change -0.24%

    May ’17 – Week 1 (1st to 7th)

    • The price of silver in Panaji was in contrast to other Indian cities, as prices fell over the course of the month due to low demand.
    • Silver was priced at Rs.40,600 per kg on 1 May, which was the highest rate for the month.
    • An increase in the U.S. dollar rate led to prices falling steeply, with silver trading at Rs.39,300 per kg on 3 May.
    • A drop in overseas demand as well as declining industrial demand led to silver trading at Rs.38,500 per kg on 4 May.
    • Prices fell to Rs.38,400 per kg on 6 May, with the price remaining constant as the week ended on 7 May.

    May ’17 – Week 2 (8th to 14th)

    • The second week of May opened with silver priced at Rs.38,400 per kg on 8 May, as prices remained unchanged from the previous week.
    • Silver fell to its lowest rate for the month at Rs.38,100 per kg on 10 & 11 May as industrial demand stagnated as markets were buoyed by the victory of Emmanuel Macron in the French Presidential election.
    • Local demand rose marginally as the week progressed, which helped raise silver prices to Rs.38,200 per kg on 12 May.
    • The week ended with silver trading at Rs.38,300 per kg on 14 May as local demand and coin makers kept prices stable.

    May ’17 – Week 3 (15th to 21st)

    • A dip in the U.S. dollar rate led to an increase in demand from overseas markets which boosted silver prices.
    • Silver traded at Rs.38,400 per kg on 15 May with the price remaining stable for the next few days.
    • As tensions with Russia and other internal political intrigues kept U.S. markets low, demand for silver increased.
    • Prices reached Rs.39,200 per kg on 18 May as demand spiked following a sharp drop in the U.S. dollar value.
    • Prices remained stable apart from some minor fluctuations as the week drew to a close, with silver continuing to trade at Rs.39,200 per kg on 21 May.

    May ’17 – Week 4 (22nd to 28th)

    • The fourth week saw a consolidation in the price of silver as demand was stable.
    • Silver traded at Rs.39,200 per kg on 22 May as overseas demand kept prices high, which also stimulated local demand.
    • Global markets were yet to recover from the previous week’s losses, prompting investors to run to bullion as a safe-haven bet.
    • Silver prices rose to Rs.40,000 per kg on 25 May as demand for the white metal continued to be constant.
    • Industrial demand as well as demand from jewellers led to prices rising to Rs.40,300 per kg on 27 May, with the price remaining constant as the week ended on 28 May.

    May ’17 – Week 5 (29th to 31st)

    • The last week of May saw the price of silver stay more or less constant as demand was consistent.
    • Silver was priced at Rs.40,200 per kg on 29 May as industrial demand fluctuated slightly due to lowered demand from Asian markets.
    • Local demand rose as GST rates were revealed, which led to higher orders from local industrial units.
    • Silver rose to Rs.40,500 per kg on 30 May and remained constant as the week ended on 31 May.
    • Though silver prices rose in the last two weeks, the overall price declined by 0.24%.
    March 1st Rate Rs.43,900 per kg
    March 31st Rate Rs.42,100 per kg
    Highest Rate in March Rs.44,000 per gram on 2nd March
    Lowest Rate in March Rs.40,300 per kg on the 15th March
    Overall Performance Decline
    Percentage Change 4.10%

    March ‘17 - Week 1 (1st to 5th)

    • Silver opened at Rs.43,900 per kg in the city of Panaji on the 1st of March due to high demand and positive market cues.
    • As the value of the U.S.Dollar fell, the rate of silver increased to trade at Rs.44,000 per kg which was the highest at which this metal traded for the month of March in Panaji.
    • However, this demand was not sustained and the price of silver reduced to Rs.42,700 per kg on the 3rd of March before rising again.
    • On the last two days of the week, silver rate in Panaji was steady at Rs.43,300 per kg.

    March ‘17 - Week 2 (6th to 12th)

    • On the first day of the second week, the rate of silver was Rs.42,800 per kg. This rate was noted the next day as well due to stability in the demand for this metal.
    • Due to declining demand, the rate of silver fell to Rs.42,100 per kg but recovered slightly the next day to trade at Rs.42,500 per kg on the 9th of March.
    • However, as the demand for this metal plunged, the rate of silver in Panaji reduced by Rs.1,000 to trade at Rs.41,500 per kg on the 10th before decreasing again the next day.
    • On the final two days of the week, price of silver in Panaji was steady at Rs.41,200 per kg.

    March ’17- Week 3 (13th to 19th)

    • Continuing from the previous week, the silver rate in Panaji was steady at Rs.41,200 per kg on the first two days of the week.
    • Price of silver fell to Rs.40,300 per kg on the 15th of March which was also the lowest at which this metal traded for the month of March.
    • A slight recovery the next day resulted in silver trading at Rs.41,200 per kg before falling to Rs.40,800 per kg on the 17th.
    • On the last two days of the week, the rate of silver in Panaji was steady at Rs.40,900 per kg due to stable demand.

    March ’17- Week 4 (20th to 26th)

    • On the first day of the penultimate week of March, the rate of silver in Panaji was much higher than that noted during the previous week. Silver was priced at Rs.41,100 per kg.
    • Silver price in Panaji was not sustained and the rate of silver reduced to Rs.40,800 per kg on the 21st before increasing again the next day to trade at Rs.41,200 per kg.
    • Rate of silver fluctuated slightly on the 23rd and 24th of March due to varying demand.
    • On the last two days of the week, silver traded at Rs.41,700 per kg.

    March ’17 – Week 5 (27th to 31st)

    • During the final week of the month, a few variations were noted in the rate of silver in Panaji.
    • On the first day of the week, silver traded at Rs.41,700 per kg before increasing to Rs.42,100 per kg.
    • On account of steady demand, on the last four days of the final week of March silver traded at Rs.42,100 per kg, recording a decline of 4.10%.
    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
    Overall Performance Incline
    Percentage Change +5.78%

    February ‘17 - Week 1 (1st to 5th)

    • Owing to consistent demand from industrialists and coin makers in addition to a lack of any major international or domestic event that would otherwise impact the price of silver, the metal traded at a consistent price over the course of the first week of February.
    • The price of the metal was recorded at Rs.41,500 per kg on the first day of the month, and there were no changes whatsoever until the fifth day of February.
    • Rs.41,500 – the price between the 1st and 5th of February was also the lowest recorded rate in the month.

    February ‘17 - Week 2 (6th to 12th)

    • Prices remained unchanged on the first day of the second week of February as the metal was seen trading at Rs.41,500 per kg on the 6th of the month.
    • Rates were stable on the 7th of February as well, trading at Rs.41,500 per kg until an increase in demand from coin makers on the 8th of February pushed prices up significantly by Rs.1200 so that the metal traded at Rs.42,700 per kg.
    • Rates remained stable for another day after which fluctuations were in order.
    • On the 10th of February, prices fell by Rs.400 from the previous day to settle at Rs.42,400 per kg, followed by an increase by Rs.600 which pushed prices up to Rs.43,000 per kg on the 11th of the month.
    • Silver prices did not experience any change on the last day of the week as it traded at Rs.43,000 on the last day to close the week at the same rate.
    • Overall, prices increased by Rs.1500 between the first and last day of the second week of February.

    February ’17- Week 3 (13th to 19th)

    • Silver prices increased consistently over the third week of February barring one day on which they fell.
    • On the 13th of the month, the rate of silver was recorded at Rs.43,200 per kg, marking an increase of Rs.200 from the closing levels of the previous week.
    • Rates dropped by Rs.200 to go back to Rs.43,000 per kg on the 14th of February, and remained stable on the 15th as well.
    • Thanks to a sudden decline in the value of the U.S. Dollar, the price of silver increased by Rs.400 on the 17th of the month to trade at Rs.43,400 per kg.
    • Silver rates increased again on the 18th of February, albeit by just Rs.100, and remained unchanged on the 19th as well and the metal closed the third week of February trading at Rs.43,500 per kg.

    February ’17- Weeks 4 & 5 (20th to 28th)

    • Uncertainties in the market in addition to the value of the US Dollar contributed to minor fluctuations over the first few days of the last two weeks of February.
    • Silver was seen trading at Rs.43,300 per kg on the 20th of February, after which prices fell marginally to settle at Rs.43,300 per kg on the 21st of the month.
    • Another minor decline on the 22nd saw prices fall to Rs.43,200 per kg and rates remained stable on the 23rd as well.
    • A marginal increase in demand from industrialists contributed to a rise in silver prices as the metal traded at Rs.43,400 per kg on the 24th of February and gained stability until the 26th of the month.
    • Silver prices rose again on the final two days of the month, first by Rs.400 to trade at Rs.43,800 per kg on the 27th of February, and then by another Rs.100 to trade at Rs.43,900 on the last day of the month.
    • Silver closed the month of February by trading at Rs.43,900 per kg, thereby marking an overall increase of Rs.2400 between the first and last day of the month.
    • In terms of percentage change, silver prices rose by 5.78% over the course 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
    Overall Performance Incline
    Percentage Change +4.79%

    January ‘17 - Week 1 (1st to 7th)

    • The price of silver in Panaji fluctuated slightly as the week began due to changes in demand, trading at Rs.39,600 per kg on 1st January.
    • Prices dipped due to a drop in demand as silver traded at Rs.39,200 per kg on 2nd January, but prices soon rose as industrial demand increased, trading at Rs.39,900 per kg on 4th January.
    • Fluctuating markets due to uncertainty over the fiscal policies under the new U.S. administration led to the dollar falling, as silver climbed to Rs.40,300 per kg on 5th January.
    • Silver prices remained constant and the week ended with silver trading at Rs.40,300 per kg on 7th January, a weekly increase of Rs.900 per kg.

    January ‘17 - Week 2 (8th to 14th)

    • Prices were stable as the second week began, with increased industrial demand and a low U.S. Dollar rate leading to higher prices.
    • Silver was priced at Rs.40,300 per kg on 8th January, with the price rising to Rs.40,500 per kg on 10th January.
    • An increase in domestic demand led to silver trading at Rs.41,200 per kg on 12th January, though prices dipped due to a lowering of demand for the rest of the week.
    • Silver traded at Rs.40,700 per kg on 13th January and closed the week at the same price, recording a weekly increase of Rs.400 per kg.

    January ’17- Week 3 (15th to 21st)

    • Prices rose steadily in the third week, as industrial demand from Asia kept prices high in spite of market fluctuations elsewhere.
    • Silver was priced at Rs.40,700 per kg on 15th January, rising to Rs.41,200 per kg on 16th January due to a rise in domestic demand.
    • Prices rose further, trading at Rs.41,500 per kg on 18th January as overseas demand rose thanks to favourable market conditions.
    • Silver prices began to drop as the week ended due to reducing domestic demand, in spite of international demand being more or less stable.
    • Silver ended the week trading at Rs.41,100 per kg on 21st January, recording a weekly increase of Rs.400 per kg.

    January ’17- Weeks 4 & 5 (22nd to 31st)

    • Prices in the last two weeks of January were stable, with the price falling briefly towards the middle of the week due to declining demand from industrial units in Asia.
    • Silver traded at Rs.41,100 per kg on 22nd January before rising to a monthly high of Rs.41,700 per kg on 22nd January.
    • A drop in demand from Asian markets led to silver prices falling, as the metal traded at Rs.41,400 per kg on 24th January.
    • Prices fell to Rs.40,500 per kg as markets strengthened on the possibility of a U.S. Fed rate hike in the near future.
    • Silver prices recovered marginally as the month ended, trading at Rs.41,500 per kg on 31st January to record an overall increase of 4.79%.

    Details of Silver Price in Panaji (1 Kg) - Till December 2015

    Silver prices in Panaji closely reflect prices across the country, with minute variations witnessed on a daily basis. The current price for 1 kg silver in the city is Rs 36,325 (as of December 22, 2015), with the prices hovering around the Rs 36,000 mark for most of this month. Silver rates have remained under the Rs 40,000 mark per kg for most of the year, crossing it in May, when a kg of silver cost around Rs 43,500. March, July and December have been good months for silver aficionados, with the prices staying close to the Rs 35,000 mark per kg of silver.

    Silver as an investment

    Silver has been around for centuries, and while it may not be expensive enough to wage wars, it has managed to hold its own over all these years. Considered as a safe investment, silver offers people who can’t afford gold or diamond the opportunity to own a precious metal which finds applications across the globe. A limited supply coupled with high demand make it a highly liquid investment, offering a chance to make quick money. With individuals looking to diversify their investment portfolios, silver has found itself on the list of many youngsters in the country. Buying silver in its physical form or indulging in trade through silver contracts are two of the popular investment avenues in India today.

    Silver contracts – Silver contracts are new to a majority of the population in India, limited to those who are aware of how the markets function and are not afraid to take risks. Trading in such markets typically involves purchasing silver in bulk, with the National Multi Commodity Exchange, the National Commodity and Derivatives Exchange and the Multi Commodity Exchange offering a platform for enthusiasts to indulge in such trade. Ability to predict market trends could be beneficial while participating in the market.

    Physical silver – Silver in the form of coins, bars and jewellery continues to be the preferred form of owning the white metal, with thousands across Panaji opting for them on a regular basis. Silver coins and bars can be used exclusively for investment, as they maintain their value over time, in comparison to jewellery which can lose its value after a particular period. Silver can be purchased from jewellers across the city, with an option for every budget available. Silver coins purchased from banks tend to be more expensive on account of quality assurances and purity checks.

    Also Check Silver Price in NearBy Cities of Panaji

    Silver Rate In Pune Silver Rate In Kolhapur Silver Rate In Mysore
    Silver Rate In Mumbai Silver Rate In Mangalore Silver Rate In Bangalore

    News About Silver Rate In Panaji

    • US Federal Reserve unable to hike interest rates – gold holds steady

      Gold held steady at $1,230 (ounce) and is expected to continue to be supported by concerns that the global economy will face financial volatility if the US Fed hikes US interest rates any further anytime soon.

      The SPDR Gold Trust (which is the largest gold ETF in the world) reported a rise of 0.38% on Thursday – up no to 713.63 tonnes.

      19 February 2016

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