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Silver Price in Patna
Popularly referred to as ‘poor man’s gold’, silver or precious white metal is highly sought-after by millions across India including Patna. Silver is bought in many forms from silverware and jewellery to artifacts and articles associated with rituals in Patna. Many consumers in Patna present silver gift articles during weddings given that the precious metal is believed to bring in good luck.
While the upper middle-class and affluent sections of society in Patna may have the resources to buy the yellow metal, the middle-class and lower middle-class segments seek the precious metal as a valuable asset. Many small investors in Patna buy silver given that it is more accessible and affordable than the yellow metal.
Trend of Silver Rate in Patna for December 2017 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver Rate on 1st December 2017||Rs.38,230 per kg|
|Silver Rate on 31st December 2017||Rs.39,265 per kg|
|Highest Rate in December||Rs.39,365 per kg on 30 and 31 December|
|Lowest Rate in December||Rs.36,545 per kg on 13 December|
|Overall Monthly Performance||Incline|
Trend of Silver Rate in Patna for November 2017 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver rate on 1st November 2017||Rs.38,995 per kg|
|Silver rate on 30th November 2017||Rs.38,640 per kg|
|Highest Rate in November 2017||Rs.40,520 per kg on 18 and 19 November|
|Lowest Rate in November 2017||Rs.38,640 per kg on 30 November|
|Overall Monthly Performance||Decline|
November 2017 - Week 1 (1st to 5th)
- Trading began in Patna with silver trading at Rs.38,995 per kg on the 1st of November.
- The 2nd witnessed silver rate in Patna surging to Rs.39,950 per kg due to an increase in local buying from local jewellers and industries ahead of the festive season.
- Demand remained suitably high during the week with the equities market performing poorly amid a weakened dollar.
- Silver was recorded trading at Rs.39,355 per kg on the 4th after a marginal drop in industrial demand as the US dollar gained against other major emerging currencies.
- The week concluded with silver rate in Patna holding steady at Rs.39,355 per kg on the 5th amid positive global trends.
November 2017 - Week 2 (6th to 12th)
- Steady industrial demand for the metal from the previous week led to silver holding steady at Rs.39,355 per kg on the 6th.
- However, the sudden political purge in Saudi Arabia led to equity markets tumbling. This resulted in an increased demand for safe-haven assets such as silver and the white metal was priced at Rs.40,040 per kg on the 7th.
- Steady global demand amid the weakened dollar and poorly performing equities led to silver holding steady at Rs.40,040 per kg until the 9th.
- But with the US dollar index recovering over the next few days, silver price in Patna dropped to Rs.39,970 per kg on the 10th.
- Rates remained untouched at Rs.39,970 per kg for the rest of the week after the positive trend overseas a subdued but steady demand for the industrial metal.
November 2017 - Week 3 (13th to 19th)
- The week commenced with the white metal priced at Rs.39870 per gram on the 13th.
- Silver price in Patna surged to Rs.40,140 per kg on the 14th after the UK markets tumbled following the Brexit fallout.
- The increase in safe-haven demand led to silver rates rising during the week and the industrial metal was recorded trading at Rs.40,240 per kg the next day.
- Though silver price in Patna remained unchanged at Rs.40,240 per kg on the 16th, silver rates declined to Rs.40,040 per kg on the 17th as the dollar gained against other apex currencies.
- With the geopolitical crisis in the Korean peninsula and the United States intensifying, investors gravitated towards safe-haven assets such as silver. This led to silver prices surging to Rs.40,520 per kg on the 18th.
- Steady global as well as domestic demand from industries and coin manufacturers led to silver rates holding steady at Rs.40,520 per kg for the remainder of the week.
November 2017 - Week 4 (20th to 26th)
- The fourth week opened with the industrial metal priced at Rs.40,440 per kg on the 20th after global markets stabilised from the previous week’s downfall.
- The 21st saw silver trading at Rs.39,780 per kg as the commodity markets took a hit with equity markets recovering during the week.
- Silver price in Patna dropped further to Rs.39,265 per kg on the 22nd, but silver rates rebounded to Rs.40,060 per kg on the 23rd as domestic trade witnessed a rise in demand from industries and coin makers.
- The renewed geopolitical crisis between the US and North Korea resulted in world markets tumbling again during the week.
- Strong global trends compounded by an increase in safe-haven demand for silver led to week ending with the metal priced at Rs.39,780 per kg on the 26th.
November 2017- Week 5 (27 to 30)
- The last week of November saw silver prices dip due to a steady drop in demand.
- Silver traded at Rs.39,780 per kg on 27 November due to static demand from industrial units and coin makers alike.
- Silver rate in in Patna dropped to Rs.39,680 per kg on 28 November as demand dropped following a market recovery.
- Prices continued to drop as silver traded at Rs.39,115 per kg on 29 November following the recovery of equity markets.
- Silver prices continued to drop as the month drew to a close and the metal traded at Rs.38,640 per kg on 30 November with Patna recording an overall loss of 0.91% in value due to the poor trends overseas coupled with weak industrial demand for the metal.
|Parameters||Silver price (per kg)|
|Silver rate on 1st October 2017||Rs.39,530 per kg|
|Silver rate on 31st October 2017||Rs.39,435 per kg|
|Highest Rate in September||Rs.40,440 per kg on 16 October|
|Lowest Rate in September||Rs.39,110 per kg on 5 and 19 October|
|Overall Monthly Performance||Decline|
October 2017 - Week 1 (1st to 8th)
- The price of silver was Rs.39,530 per kg on 1 October as demand was muted following poor demand from industry and retailers alike.
- Price were on the decline as the resumption of tensions between North Korea and the United States did not affect the dollar rate much, resulting in lower demand from Asian countries.
- Silver traded at Rs.39,110 per kg on 5 October with local demand also suffering due to overseas trends and a strengthening of the local market.
- A minor rise in price was recorded on 7 October as prices surged to surged to Rs.39,680 per kg following a drop in the dollar rate and higher demand from Asian industrial units.
- As local demand rise marginally, silver price in Patna were steady and ended the week trading at Rs 39,680 per kg on 8 October.
October 2017 - Week 2 (9th to 15th)
- There was a rise in the price of silver in the second week, with the industrial metal priced at Rs. Rs.39,950 per kg on 9 October after an initial market rally.
- As the U.S. continued to be beset by internal power struggles and rising discontent over the proposed changes to the tax law, markets were on the decline though there was no change in demand for precious metals.
- Silver rate in Patna rose to Rs.40,060 per kg on 10 October as demand was increasing following favourable market conditions as well as a rise in international demand.
- Silver price in Patna rose to Rs.40,390 per kg on 12 October and remained constant for the remainder of the week.
October 2017 - Week 3 (16th to 22nd)
- Silver opened the third week at Rs.40,440 per kg on 16 October, with the industrial metal’s price staying constant due to steady demand.
- There was some fluctuation in the price of silver during the week due to changes in demand from industrial units but prices held steady for the most part.
- Silver was priced at Rs.40,060 per kg on 18 October as demand for the metal fell in spite of Diwali, as dollar rates and international trends led to a drop in retail sales.
- Prices remained unstable for the remainder of the week, with silver rising momentarily to trade at Rs.40,285 per kg on 20 October.
- Demand dropped as the week drew to a close, with silver trading at Rs.40,060 per kg on 21 & 22 October.
October 2017 - Week 4 & Week 5 (23rd to 31st)
- The last week of October saw the a drop in the price of silver as industrial demand was poor following a rally by international markets and currencies.
- Silver was priced at Rs.40,040 per kg on 23 October, though silver price in Patna fell to Rs.39,780 per kg on 25 October as demand dropped steadily owing to poor local demand.
- Prices continued to fall as silver traded at Rs.39,435 per kg on 27 October after sustained uncertainty over the nuclear threat from North Korea.
- Local demand reflected trends seen overseas, with no increase in orders from industrial units as silver prices continued to slump.
- Silver price in Patna dropped to Rs.39,115 per kg on 29 & 30 October before ending the month at Rs. Rs.39,435 per kg on 31 October and registering a drop in value of 0.24% over the course of the month.
|Parameters||Silver price (per 1 kg)|
|Silver rate on 1st September||Rs.40,390 per kg|
|Silver rate on 30th September||Rs.39,530 per kg|
|Highest Rate in September||Rs.40,900 per kg on 9 and 10 September|
|Lowest Rate in September||Rs.39,530 per kg on 28 to 30 September|
|Overall Monthly Performance||Decline|
September 2017 - Week 1 (1st - 10th)
- Silver was priced at Rs.40,390 per kg in Patna when this week began.
- A steady demand brought about by local investors saw the white metal trade at Rs.40,390 per kg till the 3rd of the week.
- The US dollar’s weak performance followed by an increased local demand saw silver rates push up to Rs.41,075 per kg.
- As demand increased, silver prices in Patna went up to Rs.40,340 per kg and then to Rs.41,495 per kg as industrial ramped up their purchases to improve their inventory.
- Due to a sudden fall in demand on the 7th, rates fell to Rs.40,230 per kg.
- The final three days saw increased demand for silver as North Korea confirmed reports about its latest - and the most powerful nuclear test.
- On the 8th, silver was trading at Rs.41,675 per kg, which then increased to Rs.41,900 per kg on the 9th.
- The final day of this week saw silver trade at Rs.41,900 per kg.
September 2017 - Week 2 (11th - 17th)
- With demand for the metal remaining low, silver rates fell during the second week of September.
- When the week began on the 11th, the white metal was priced at Rs.41,075 per kg, before dropping to Rs.41,030 per kg on the 12th.
- Prices fell further to Rs.40,890 per kg on the 14th as investors from the industrial and jewellery sector remained wary of making purchases.
- A sustained but low demand saw silver trade at Rs.40,890 per gram on the final day of this week.
September 2017 - Week 3 (18th - 24th)
- When trading opened for the 18th, silver rates in Patna had further dropped to Rs.40,440 per kg as offtake from local investors failed to pick up.
- Prices went down again on the 19th to Rs.39,670 per kg as a strengthening US dollar pushed demand to new lows.
- By the end of the week, however, silver recovered to end at Rs.40,040 per kg.
September 2017 - Week 4 (25th - 30th)
- On the 25th of September, silver rates opened at Rs.39,670 per kg - a Rs.370 decline from the previous day’s rates.
- Silver rates in Patna rose to Rs.40,520 per kg on the 26th as jewellers and coin makers increased their purchases to meet the upcoming festive demand.
- But, the sudden spike came crashing down and the metal traded at Rs.39,780 per kg on the 27th before dropping down to monthly low figure of Rs.39,530 per kg on the 28th of September.
- When the month came to an end, silver rates were still holding at Rs.39,530 per kg.
|Parameters||Silver price (per kg)|
|Silver Rate in 1st August||Rs.38,925 per kg|
|Silver Rate in 31st August||Rs.40,040 per kg|
|Highest Rate in August||Rs.40,190 per kg on 29 & 30 August|
|Lowest Rate in August||Rs.37,235 per kg on 5 & 6 August|
|Overall Monthly Performance||Incline|
August 2017 - Week 1 (1st - 6th)
- On the 1st of August, when the month started, silver was priced at Rs.38,925 per kg.
- Silver price in Patna fell to Rs.38,455 per kg on the 2nd due to a lack of demand from various concerned parties, i.e., industrial units and coin makers hailing from the city.
- Silver rates in Patna slumped further to Rs.37,965 per kg on the 3rd as a result of demand still remaining weak.
- The 4th saw prices increase to Rs.38,120 per kg as bullion demand surged all over the country and hence the city.
- This sudden rise in prices was an anomaly, though. Rates fell by nearly Rs.900 to go down to Rs.37,235 per kg as demand fell again amidst weak global demand.
- When the week came to an end, silver was still trading at Rs.37,235 per kg.
August 2017 - Week 2 (7th - 13th)
- The second week of August began on a glum note due to little change in demand.
- On the 7th, the white metal was trading at Rs.37,295 per kg. Rates surged to Rs.38,345 per kg as industrial demand pushed purchases up and subsequently the prices.
- Silver rate in Patna fell back again on the 9th to reach Rs.37,965 per kg as the number of purchases went down.
- The 10th saw Silver rates in Patna rise to Rs.38,925 per kg as a direct result of the rising tensions between the US and North Korea.
- Silver prices in Patna went up on the 11th also, to Rs.39,530 per kg, as investors —coin makers and industrial units — decided to increase their inventory.
- Over the 12th and the 13th, Silver rates in Patna was seen holding at Rs.39,670 per kg as demand remained steady.
August 2017 - Week 3 (14th - 20th)
- Silver rates in Patna fluctuated considerably towards the latter half of this week.
- On the 14th of the month, silver was trading at Rs.39,670 per kg. This rate continued on to the 15th as well, thanks to sustained purchases from various quarters of the city.
- The 16th, however, saw prices drop to Rs.38,815, due to a weak trend overseas.
- With investors ramping up their purchase, Silver rates in Patna pushed back up to Rs.39,530 per kg on the 17th before falling again, to Rs.39,115 per kg.
- As demand was stable, rates remained at Rs.39,115 per kg till the end of the week.
August 2017 - Week 4 (21st - 27th)
- The US dollar bounced back during the mid week which affected global as well as local silver sales.
- On the 21st of August, silver was seen trading at Rs.39,115 per kg - the same price as seen at the closing hours of the 20th.
- Silver price in Patna went up to Rs.39,265 per kg on the 21st before remaining steady on the 22nd.
- The 24th saw prices increase to Rs.39,355 per kg before dropping to Rs.38,995 per kg on the 25th as dollar rallied against other currencies.
- Silver prices in Patna remained at Rs.38,995 per kg over the final two days of this week, owing to steady demand for the metal.
August 2017 - Week 5 (28th - 31st)
- The last week of August began with the metal trading at Rs.39,435 per kg.
- Rates went up to a monthly high figure of Rs.40,190 per kg on the 29th and the 30th as jewellers ramped up their purchases to meet retail demand.
- When the month came to an end on the 31st, silver was seen trading at Rs.40,040 per kg.
- Silver price in Patna trends increased considerably at a rate of 2.86% for this month.
|Parameters||Silver price (per kg)|
|July 1 Rate||Rs.38,640 per kg|
|July 31 Rate||Rs.38,640 per kg|
|Highest Rate in July||Rs.38,690 per kg on 3 July|
|Lowest Rate in July||Rs.36,035 per kg on 10 July|
|Overall Monthly Performance||No change|
July 2017 - Week 1 (1st to 9th)
- In Patna, silver was priced at Rs.38,640 per kg when the month of July began.
- Demand for the white metal remained weak due to weak global cues and poor industrial offtake.
- Silver rates went up to Rs.38,690 on the 3rd- the highest gold rate for the month - as coin makers were trying to take advantage of a comparatively cheaper price trend.
- On the 4th, prices dropped by nearly Rs.1,000 per 1 kg silver to Rs.37,705 per kg as industrial units limited their risk by investing in the metal less and less.
- As the fall in prices pushed coin makers to invest a little more, silver rates went up to Rs.37,800 per kg on the 5th.
- Rates went down to Rs.37,115 per kg on the 7th and remained unchanged due to weak but steady demand from local parties.
July 2017 - Week 2 (10th - 16th)
- Due to demand bottoming out - silver reached its lowest rate for the month - Rs.36,035 per kg - on the 10th of July.
- However, as demand picked up slightly, silver prices went up to Rs.36,270 per kg and then to Rs.36,920 per gram on the 12th of the month.
- As there was a steady rise in demand during this week, silver prices went up to Rs.37,180 per kg on the 16th when the week ended.
July 2017 - Week 3 (17th - 23th)
- On the 17th, when the third week of July began, silver was priced at Rs.37,180 per kg, which then increased to Rs.37,600 per kg on the 18th of July.
- As demand from industrial units and coin makers went up, silver prices increased to Rs.37,705 per kg the next day.
- Due to some positive global cues and local demand, prices went up to Rs.37,800 per kg on the 21st and increased again on the 22nd to trade at Rs.38,005 per kg.
July 2017 - Week 4 (24th - 31st)
- Silver prices rode the sine wave during the final week of July.
- On the 24th of the month, silver prices were recorded at Rs.38,120 per kg which increased slightly to Rs.38,230 per kg on the 25th of July.
- The 27th saw silver rates reach Rs.38,690 per kg - which was the highest silver rate for the month.
- On the 29th, silver prices were recorded at Rs.38,460 per kg and increased to Rs.38,640 per kg on the last day of the month.
- Silver price trends didn’t change at all this month as rates started and ended at Rs.38,640 per kg.
|June 1 Rate||Rs.40,285 per kg|
|June 30 Rate||Rs.38,995 per kg|
|Highest Rate in June||Rs.40,890 per kg on 7 June|
|Lowest Rate in June||Rs.38,455 per kg on 21 and 27 June|
|Overall Monthly Performance||Decline|
June 2017 - Week 1 (1st - 4th)
- When trading started for June in Bihar’s capital Patna, silver was priced at Rs..40,285 per kg.
- As there was no steady demand from local circles, silver prices in Patna fluctuated considerably.
- On the 2nd, silver prices dropped by Rs.3385 to trade at Rs.39,950 per kg.
- Courtesy of a dip in U.S. economy, silver prices increased to Rs.40,670 per kg on the 3rd of June.
- When the week ended on the 4th, silver rates in Patna remained at Rs.40,670 as demand remained steady.
June 2017 - Week 2 (5th - 11th)
- When the second week began in Patna, silver was still trading at Rs.40,670 per kg. Prices didn’t change on the 6th as well due to a sustained demand for the metal.
- The 7th saw silver trade at Rs.40,890 per kg - which happened to be the highest silver rate for the month.
- As the US economy seemed to recover, silver prices fell on the 8th to go down to Rs.40,725 per kg.
- Prices decreased gradually during the next few days as the U.S. dollar strengthened and silver demand remained sluggish.
- On the 9th, silver was trading at Rs.40,285 per kg and dropped to Rs.40,060 per kg on the 10th.
- When the second week’s trading came to an end in Patna, silver rates remained at Rs.40,060 per kg.
June 2017 - Week 3 (12th - 18th)
- Silver prices fluctuated significantly in Patna during the 3rd week of June as rates saw a gradual decrease.
- On 12th June, silver was trading at Rs.39,680 per kg but went down to Rs.39,435 per kg on the 13th due to a drop in demand.
- On the 14th, silver price in Pune dropped to Rs.39,115 per kg before increasing briefly to Rs.39,265 per kg on the 15th.
- Rates fell by Rs.270 per kg on the 16th - to hit Rs.38,995 per kg -as demand failed to pick up.
- On the 17th, silver recorded its biggest price drop - to the tune of Rs.535 - as investors backed out on a slightly higher scale.
- When the week ended, silver rate in Pune closed at Rs. 38,460 per kg.
June 2017 - Week 4 (19th - 25th)
- When the fourth week of June began on the 19th, silver was trading at Rs.38,640 per kg - a Rs.180 increase from the previous day’s prices.
- Rates remained the same on the 20th, before decreasing to hit a monthly low of Rs.38,455 per kg - on the 21st of June.
- Prices went up slightly to Rs.38,460 per kg on the 22nd and gradually increased over the next couple days.
- The 23rd saw silver rates go up to Rs.38,690 per kg and then increase to Rs.38,925 per kg.
- On the 24th, when the week was comingcame to an end, silver rates in Patna Lucknow remained at Rs.38,925 per kg.
- The week ended on the 25th with the white metal trading at Rs.38,925 per kg.
June 2017 - Week 5 (26th - 30th)
- The final week of June opened with silver trading at Rs.38,925 per kg.
- However, as demand dropped significantly, prices dropped to Rs.38,455 per kg, which also happened to be the lowest for the month.
- Some end of the month trading led to an increase in demand and subsequently the prices.
- On the 28th, silver price in Pune went up to Rs.39,115 per gram - a Rs.6650 per kg increase from the previous day’s closing figures.
- Silver prices in Patna declined by 3.20% during this month due to a combination of local and international factors.
|May 1st Rate||Rs.40,040 per kg|
|May 31st Rate||Rs.40,060 per kg|
|Highest Rate in May||Rs.40,520 per kg on 30th of May|
|Lowest Rate in May||Rs.37,705 per kg on 11th and 12th of May|
May 2017 - Week 1 (1st - 7th):
- On the 1st of May, silver was priced at Rs.40,040 per kg, which then went down to Rs.39,115 per kg on the 2nd due to a massive drop in demand.
- Prices fell again on the 3rd to Rs.38,925 per kg as jewellers - coin makers in particular - remained wary of investing in the metal.
- The 4th saw prices fall yet again and ended the day’s trade at Rs.38,230 per kg.
- On 5th, silver prices decreased for the fifth consecutive day as rates went down to Rs.37,965 per kg but increased on the 6th to reach Rs.38,005 per kg.
- When the week came to an end on the 7th, silver prices were still holding at Rs.38,005 per kg.
May 2017 - Week 2 (8th - 14th):
- When the second week of May began in Patna, silver prices had regressed by Rs.40 to start at Rs.37,965 per kg.
- On the 9th, prices went down by Rs.100 due to a lack of demand for silver to trade at Rs.37,865 per kg.
- The 10th of May was when silver prices hit their lowest for the month. The low prices were due to a constant decrease in demand over the previous few days.
- On the 11th, silver prices were the same as on the 10th - at Rs.37,705 per kg.
- However, silver prices rallied over the next few days to end the week on a relative high.
- During the trading hours of the 12th, silver prices were recorded at Rs.37,865 per kg, which then went up to Rs.38,005 per kg on the 13th.
- The last day of May week 2 didn’t see any price change as silver was still trading at Rs.38,005 per kg.
May 2017 - Week 3 (15th - 21st):
- Unlike the previous week, silver prices gained overnight to start the 15th at Rs.38,230 per kg - a Rs.225 incline.
- Prices went up again on the 16th as demand from coin makers and the industrial sector rose considerably.
- On the 16th, silver was priced at Rs.38,640 per kg and went up again on the 17th to trade at Rs.38,995 per kg.
- Silver rates went up again on the 18th - this time by Rs.270 to close the day at Rs.39,265 per kg, but fell the next day to Rs.38,815 per kg due to a sudden drop in demand.
- Prices rose on the 20th to Rs.39,115 per kg after an unexpected fall the previous day.
- When the week came to an end, silver prices were still remained at Rs.39,115 per kg.
May 2017 - Week 4 (22nd - 28th):
- The fourth week of May saw prices fluctuate consistently due to an uneven demand for the metal.
- When the week began on the 22nd, silver was trading at Rs.39,265 per kg, which inclined to Rs.40,040 per gram on the 23rd.
- However, the rapid rise in demand couldn’t be sustained, leading to a drop of Rs.370 per kg, to bring prices down to Rs.39,670 per kg.
- After an anomalous fall, prices went up to Rs.39,950 per kg on the 25th and remained level on the 26th as well.
- The 27th saw prices increase to Rs.40,190 per kg and remained unchanged till the end of the week.
May 2017 - Week 5 (29th - 31st):
- When trading began for the last week of May, silver prices were recorded at Rs.40,285 per kg.
- Silver prices went up on the 30th to trade at Rs.40,520 per kg - making it the highest trading rate for the entire month.
- The same demand couldn’t be sustained which led to prices falling on the final day of May 2017 to Rs.40,060 per kg.
- Overall, silver prices inclined in Patna at a marginal rate of 0.04% for the month of May.
|April 1st Rate||Rs.42,570 per kg|
|April 30th Rate||Rs.40,040 per kg|
|Highest Rate in April||Rs.43,055 per kg on 15th & 16th April|
|Lowest Rate in April||Rs.40,040 per kg on 29th & 30th April|
April ’17- Week 1 (1st to 9th)
- Silver prices in Patna in the first week of April were stable, though there were a few minor fluctuations due to demand vagaries.
- Silver was priced at Rs.42,570 per kg on 1st April as industrial demand was steady in spite of a strong U.S. Dollar.
- As the week progressed, the U.S. Dollar dropped due to uncertainty over the North Korean issue as well as flagging U.S. markets, which led to higher demand for silver.
- Prices reached Rs.42,775 per kg on 5th April as demand climbed steadily, though there was a minor fall in price due to poor local demand.
- Silver ended the week trading at Rs.42,640 per kg on 9th April.
April ’17 – Week 2 (10th to 16th)
- The price of silver dipped at the start of the week but soon rose on favourable conditions.
- Silver traded at Rs.41,625 per kg on 10th April and rose in a few days to Rs.42,640 per kg on 12th April as the U.S. Dollar continued to trade poorly against other global currencies, resulting in higher demand from overseas.
- Prices rose to Rs.43,030 per kg on 14th April as local demand rose, buoyed by lower import costs and strong demand from coin makers.
- The price continued to rise as the week ended, with silver trading at Rs.43,055 per kg on 16th April due to favourable market conditions and high demand.
April ’17 – Week 3 (17th to 23rd)
- The third week saw silver prices in Patna start off strong but prices fell due to declining demand as the week progressed.
- Silver was priced at Rs.43,030 per kg on 17th April as industrial demand was still high, though prices dipped as the U.S. Dollar appeared to be recouping its earlier losses.
- As the U.S. markets began to recover, interest in silver waned and imports also became more expensive due to a stabilising U.S. Dollar, which led to a reduction in demand for silver.
- Prices fell to Rs.42,435 per kg on 19th April before falling sharply to end the week at Rs.41,980 per kg on 23rd April.
April ’17 – Week 4 (24th to 30th)
- The last week of April saw the price of silver fall further as the U.S. Dollar strengthened and global markets saw an upswing in trading.
- Silver was priced at Rs.41,625 per kg on 24th April as industrial demand stagnated due to higher costs.
- Local markets also picked up on global trends as demand began to slide, which led to silver prices falling to Rs.40,520 per kg on 26th April.
- European markets also rose on the possibility of the victory of a Euro-centric candidate in the French presidential election, which led to a further reduction in demand for silver.
- Prices slumped as the month ended, trading at Rs.40,190 per kg on 28th April before closing at Rs.40,040 per kg on 30th April, recording a 5.94% drop in value over the course of the month.
|March 1st Rate||Rs.43,970 per kg|
|March 31st Rate||Rs.42,115 per kg|
|Highest Rate in March||Rs.44,100 per kg on 2nd March|
|Lowest Rate in March||Rs.40,040 per kg on 15th March|
March ‘17 - Week 1 (1st to 5th)
- On the 1st day of the month, the price of silver in Patna was Rs.43,970 per kg and as the month progressed, there were a number of fluctuations noted.
- This precious metal traded at Rs.44,100 per kg due to high demand from coin makers and industrialists. This was also the highest at which silver traded for the month of March in Patna.
- Rate of silver in Patna increased to Rs.43,295 on the 4th of March as demand started to pick up, and they remained stable on the next day as well to close the week at the aforementioned rate.
March ‘17 - Week 2 (6th to 12th)
- Silver rate in Patna on the first day of the second week of March was Rs.42,925 – with no rise being recorded in from the price on the closing day of the first week of the month.
- A steep reduction on the 10th of March saw prices tumble to Rs.40,670 per kg, after which another decline saw rates drop to Rs.40,520 per kg on the 11th.
- Prices remained constant on the last day of the second week of March due to consistent demand and the rate of silver on the last day of the week was Rs.40, 520 per kg.
March ’17- Week 3 (13th to 19th)
- Silver price in Patna on the first day of the third week of March was Rs.40,760 per kg due to minor reduction in the value of the U.S.Dollar.
- Rates reduced on the second day of the third week, trading at Rs.40,440 per kg.
- On the 15th of March, prices fell to a monthly low at Rs.40,040 per kg, after which an incline by Rs.850 saw them rise to Rs.40,890 per kg on the 16th.
- A slight decrease on the 17th saw prices fall to Rs.40,815 per kg and rates remained stable for the next three days, closing the third week of March at Rs.40,815 per kg.
March ’17- Week 4 (20th to 26th)
- Silver opened the second last week of the month at Rs.41,075 per kg, which was relatively higher than the rates noted during the previous week. However, the same could not be said for the rates noted during the next day.
- Rates reduced on the 21st of March, trading at Rs.40,725 per kg due to fluctuations in demand.
- Due to an incline in demand, silver closed the penultimate week of March on a strong note as price of this metal increased to Rs.41,340 before rising again and closing the week at Rs.41,435 per kg.
March ’17 – Week 5 (27th to 31st)
- On the first day of the last week of March, silver traded at Rs.41,900 per kg in Patna which was higher than the rates seen during the previous week. This is due to a rise in the demand for silver in domestic markets.
- As the demand went up, the rate of silver in Patna followed suit as well and traded at Rs.42,115 per kg on the 28th of March. The rate was noted until the 29th of March.
- Due to continued demand from coin makers and industrialists, silver price increased to Rs.42,435 per kg.
- However, this demand was not sustained and on the last day of the month, silver closed at Rs.42,115 per kg recording a decline of 4.21%.
|February 1st Rate||Rs.42,520 per kg|
|February 28th Rate||Rs.44,165 per kg|
|Highest Rate in February||Rs.44,165 per kg on 28th February|
|Lowest Rate in February||Rs.42,115 per kg on 3rd February|
February ‘17 - Week 1 (1st to 5th)
- The price of silver in Patna during the first week of February was relatively low fluctuations in the rate of the U.S. Dollar along with a fall in the industrial demand.
- Silver traded at Rs.42,520 per kg on 1st February, with the rate rising to Rs.42,640 per kg on 2nd February .
- A reduction in demand for this metal from industrialists and coin makers led to a decrease in price, as silver traded at Rs.42,115 per kg on 3rd February. This was also the lowest at which silver traded for the month of February.
- As the week came to an end, the rate of this precious metal increased, with silver trading at Rs.42,335 per kg on 5th February. A weekly decrease of Rs.165 per kg was recorded in the price of silver.
February ‘17 - Week 2 (6th to 12th)
- On the first day of the second week of the month, silver traded at Rs.42,520 per kg on 6th February, with the rates rising to Rs.42,930 per kg on 7th February on higher demand from industrialists.
- A number of variations were seen during the week, with silver trading at Rs.42,950 per kg on 9th February before declining to Rs.42,375 per kg on 10th February due to a slump in industrial demand.
- An increase in local demand led to rates increasing slightly as silver traded at Rss.42,570 per kg on 11th February.
- Price of silver remained steady as the week ended, with silver trading at Rs.42,570 per kg on 12th February.
February ’17- Week 3 (13th to 19th)
- There was a fall noted in the demand for this precious metal, with silver trading at Rs.43,280 per kg on 13th February.
- Rate of silver increased to Rs.43,115 per kg on 15th February and later continued to rise to Rs.43,520 per kg on 17th February due to a sudden drop in the value of the U.S. Dollar.
- Local and international kept rates stable as demand fluctuated, trading at Rs.43,400 per kg on 18th February.
- The week ended with this precious metal trading at Rs.43,400 per kg on 19th February, recording a weekly increase of Rs.120 per kg.
February ’17- Weeks 4 & 5 (20th to 28th)
- During the final two weeks of February, rate of silver fluctuated due to U.S. Dollar rates and varying demands for this metal in the local market.
- Silver traded at Rs.43,270 per kg on 20th February, with the rate falling further to trade at Rs.43,240 per kg on 22nd February.
- A slight rise in demand from industrial units led to silver trading at Rs.43,680 per kg on 24th February.
- Silver rates rose to Rs.43,910 per kg on 25th February, with the price rising to Rs.44,110 per kg on 27th February.
- Price of silver continued to rise as the month ended, trading at Rs.44,165 per kg on 28th February to record an overall increase of 3.86%.
|January 1st Rate||Rs.39,035 per kg|
|January 31st Rate||Rs.41,980 per kg|
|Highest Rate in January||Rs.42,180 per kg on 23rd January|
|Lowest Rate in January||Rs.39,035 per kg on 1st January|
January ‘17 - Week 1 (1st to 7th)
- Silver prices in Patna reflected trends seen across the country, with the price rising due to an increase in demand.
- Silver was priced at Rs.39,035 per kg on 1st January but prices soon rose on steadily increasing demand.
- Silver traded at Rs.40,285 per kg on 4th January as domestic demand spiked due to a low U.S. Dollar rate.
- Prices rose to Rs.40,670 per kg on 5th January before dropping to Rs.40,435 per kg on 6th January.
- Silver traded at Rs.40,390 per kg on 7th January, registering a weekly increase of Rs.1,355 per kg.
January ‘17 - Week 2 (8th to 14th)
- The price of silver in the second week also saw a rise in price due to continuing demand from the industrial sector and coin makers, with silver opening the week at Rs.40,390 per kg on 8th January.
- Prices rose to Rs.41,295 per kg on 11th January, steadily increasing as markets fluctuated, which led to an increase in demand for the metal.
- Silver traded at Rs.41,030 per kg on 13th January as a slight dip in demand led to prices slipping.
- There was a marginal recovery as the week ended, with silver trading at Rs.41,230 per kg on 14th January to register a weekly increase in price of Rs.840 per kg.
January ’17- Week 3 (15th to 21st)
- Prices in the third week were subject to market fluctuations due to conflicting cues from international markets.
- Silver traded at Rs.41,230 per kg on 15th January and rose to Rs.41,560 per kg the next day on steady demand.
- Prices reached a high of Rs.41,990 per kg on 18th January as the U.S. Dollar fell heavily against global currencies.
- Prices regularised in the next few days, as silver traded at Rs.41,675 per kg on 20th January.
- The week ended with silver trading marginally higher at Rs.41,930 per kg on 21st January.
January ’17- Weeks 4 & 5 (22nd to 31st)
- Silver was stable at the start of the fourth week due to consistent demand but fluctuated due to market factors.
- Silver was priced at Rs.41,930 per kg on 22nd January, before rising to Rs.42,180 per kg on 23rd January on a sudden decrease in the U.S. Dollar.
- Prices stabilised over the rest of the week, as demand dropped marginally, with silver trading at Rs.41,835 per kg on 25th January.
- A drop in industrial demand from Asia led to silver prices falling to Rs.41,075 per kg from 27th-29th January.
- Prices rose as the month ended, with silver trading at Rs.42,010 per kg on 30th January.
- A slight dip in demand led to solver trading at Rs.41,980 per kg on 31st January to record an overall increase of 7.54%.
|December 1st Rate||Rs.40,450 per kg|
|December 31st Rate||Rs.39,035 per kg|
|Highest Rate in December||Rs.41,630 per kg on 8th December|
|Lowest Rate in December||Rs.38,700 per kg on 23rd December|
December 2016 - Week 1 (1st - 4th):
- Silver trade in Patna witnessed quite bit of fluctuations for the month of December.
- On 1st, silver was seen trading at Rs.40,450 per kilogram, which then increased to Rs.40,795 on 2nd.
- As global demand increased silver prices further went up to hit Rs.41,070 on the 3rd before continuing at the same rate till the end of the week on 4th.
December 2016 - Week 2 (5th-11th):
- When business began on 5th, silver prices had slightly dropped to Rs.41,055 per kilogram - a Rs.15 decrease compared to the last week.
- On 6th, prices didn’t fluctuate as silver was still trading at Rs.41,055 per kilogram but went down to Rs.40,820 per kilogram on the 7th.
- The 8th, however, saw prices increase by Rs.810 for silver to trade at Rs.41,650 per kilogram as global demands soared.
- Also, the highest trading price for silver was seen on 8th.
- Prices dropped to Rs.41,290 per kilogram as demand suddenly fell the subsequent day on the 9th.
- Silver prices remained the same on the 10th and 11th at Rs.41,345 per kilogram - an increase of Rs.55.
December 2016 - Week 3 (12th-18th):
- The third week of December saw massive fluctuations and paved way for consistent price drops throughout the week.
- When trading began on the 12th, silver prices were at Rs.41,345 per kilogram but decreased to Rs.41,220 per kilogram on the 13th.
- Prices remained the same on the 14th as well but decreased by Rs.615 to hit Rs.40,615 on the 15th.
- Silver prices further dipped to Rs.39,230 per kilogram on 16th - the lowest for the week.
- On the last two days of the week silver prices increased and stabilised as the metal was seen trading at Rs.39,305 per kilogram.
December 2016 - Week 4 (19th-25th):
- The fourth week of December again bore witness to some ups and downs with regards to silver pricing.
- On 19th, gold was seen trading at Rs.39,435 per kilogram and decreased to Rs.39,195 per kilogram on the 20th.
- When business day began on the 21st, prices had increased slightly for silver to trade at Rs.39,575 per kilogram.
- However, prices went down again on the 22nd to hit Rs.38,815 per kilogram and further went down to Rs.38,700 on the 23rd.
- As Christmas was approaching, silver prices climbed slightly over the 24th and 25th to trade at Rs.38,725 per kilogram.
December 2016 - Week 5 (26th-31st):
- The final week of 2016 saw silver prices fluctuate again as the metal was trading at Rs.38,460 per kilogram on 26th.
- On 27th, prices climbed slightly to Rs.38,690 per kilogram and increased significantly on the 28th to hit Rs.39,345 per kilogram.
- Silver prices increased on the 29th to hit Rs.39,680 per kilogram but decreased by Rs.50 to hit Rs.39,630 on the 30th.
- The final day of 2016 saw silver prices drop significantly to hit Rs.39,035 per kilogram.
- All in all, Patna saw silver price trends change by -3.49% in the month of December.
|November 1st Rate||Rs.42,910 per kg|
|November 30th Rate||Rs.41,055 per kg|
|Highest Rate in November||Rs.44,960 per kg on 9th November|
|Lowest Rate in November||Rs.40,190 per kg on 25th November|
November '16 - Week 1 (1st to 6th)
- Strong demand from the industrial sector coupled with high retail demand led to silver trading at Rs.42,910 per kg on 1st November.
- The festive season led to increased demand from jewellers, which raised silver bookings.
- Silver traded at Rs.43,855 per kg on 4th November as markets fluctuated, which increased demand for silver.
- The U.S. Dollar was unstable due to market fluctuations, which led to higher exports and an increase in demand.
- Silver traded at Rs.44,10 per kg on 6th November due to high demand.
November '16 - Week 2 (7th to 13th)
- Silver prices rose as the markets fell on news of the shock victory of Donald Trump in the U.S. presidential election.
- Silver traded at Rs.43,685 per kg on 7th November and rose to Rs.44,960 per kg on 9th November as markets plunged following demonetisation.
- The U.S. Dollar also traded low against global currencies, which boosted demand.
- Industrial demand was high but fell as the week ended, resulting in silver trading at Rs.42,005 per kg on 13th November.
November '16 - Week 3 (14th to 20th)
- Silver prices began to fall due to the currency shortage, which reduced demand for silver.
- Silver was priced at Rs.41,760 per kg on 14th November as markets recovered from the previous week’s losses.
- Silver fell below Rs.40,000 for the first time, trading at Rs.40,825 per kg on 18th November as industrial demand also fell.
- Stringent measures governing bullion trading led to reduced silver purchases, leading to silver trading at Rs.40,735 per kg on 20th November.
November '16 - Week 4 and 5 (21st to 30th)
- Prices failed to recover in the last two weeks, with demand instead falling further due to a reduction in industrial demand.
- Silver traded at Rs.40,890 per kg on 21st November as international demand dropped as the U.S. Dollar rose, which made imports expensive.
- The retail sector also suffered due to the currency shortage, which led to lower than expected demand.
- Silver fell to Rs.40,190 per kg on 25th November, its lowest rate for November before recovering to end the month at Rs.41,055 per kg on 30th November.
|October 1st Rate||Rs.45,900 per kg|
|October 31st Rate||Rs.43,035 per kg|
|Highest Rate in October||Rs.45,900 per kg on 1st and 2nd October|
|Lowest Rate in October||Rs.41,685 per kg on 7th October|
October ’16- Weeks 1 & 2 (1st-9th)
- Sustained demand from the industrial sector led to the price of silver in Patna being Rs.45,900 per kg on 1st October.
- Prices fell marginally in the middle of the week due to a drop in demand in the international market.
- The price of silver fell sharply towards the end of the week due to the markets rallying and demand consequently dropping.
- Silver traded at Rs.41,800 per kg on 9th October, a decrease of Rs.4,100 per kg from the start of the week.
October ’16- Week 3 (10th-16th)
- Prices rose in the second week, with silver trading at Rs.42,600 per kg on 10th October as domestic demand rose due to the ongoing festive season.
- Minor fluctuations in the price was observed, but the price was more or less stable during the week.
- A surge in industrial demand helped keep prices high in spite of international silver prices falling.
- Silver was priced at Rs.41,780 per kg on 16th October, a drop of Rs.820 per kg from the beginning of the week.
October ’16- Week 4 (17th-23rd)
- Silver was priced at Rs.41,970 per kg on 17th October, with the price rising as demand from jewellers continued to keep overall demand high.
- A dip in markets in Asia led to increased interest in silver, with trading in the commodity increasing.
- Prices were stable during the end of the week as markets began to recover, with industrial demand keeping prices from falling.
- The price of silver was Rs.42,130 per kg on 23rd October, reflecting a marginal increase of Rs.160 per kg.
October ’16- Week 5 (24th-31st)
- Prices were stable in the last week of October as demand was high due to the markets sliding on news of poor economic data from the U.S.
- Silver traded at Rs.42,330 per kg on 234th October, with prices rising marginally throughout the week.
- Strong domestic demand also contributed to the price staying high during the week.
- Silver was priced at Rs.43,035 per kg on 31st October, an increase of Rs.705 per kg from the price at the start of the week.
|1st Day||Rs.45,225 per kilogram|
|Last Day||Rs.45,750 per kilogram|
|Highest Price||Rs.47,820 per kilogram on 7th September|
|Lowest Price||Rs.45,225 per kilogram on 1st September|
September '16 - Week 1 (1st to 4th)
- Based on the U.S. economic data, the rate hike by the Federal Reserve was unlikely this month.
- With the expectations of the hike dampening, demand for silver shot up.
- September month opened for silver at Rs.45,225 per kilogram.
- Silver was recorded at Rs.46,760 per kilogram on the 3rd and 4th of the month.
- The week recorded a hike of 3.39%.
September '16 - Week 2 (5th to 11th)
- Silver prices fluctuated in the 2nd week of September due to the ambiguity in the Fed rate hike.
- On 5th September, silver was recorded at Rs.46,760 per kilogram.
- On the 7th September, silver peaked for the week at Rs.47,820 per kilogram.
- With the possibility of a rate hike becoming stronger, silver prices dipped to Rs.46,835 per kilogram on 10th and 11th of September.
September '16 - Week 3 (12th to 18th)
- Week 3 of September continued to see fall in silver prices thanks to the bearish trend in the global market.
- Silver traded at Rs.45,715 per kilogram on 12th of this month.
- Due to the fall in offtake from industrialists and coin makers, demand for silver lowered
- By the end of the week, silver dropped Rs.1,465 per kilogram and closed at Rs.45,370 per kilogram on 17th and 18th of the month.
September '16 - Week 4 (19th to 25th)
- This week’s silver prices climbed owing to the fact that the Fed rate hike was put on hold due to presidential elections being in full swing.
- On 19th September, silver traded at Rs.46,110 per kilogram.
- Silver recorded its highest at Rs.47,590 per kilogram on 22nd September.
- Despite a peak in demand for silver, its prices dropped to Rs.47,535 per kilogram on 23rd September and remained at the same level for the remaining two days.
September '16 - Week 5 (26th to 30th)
- Silver was recorded at Rs.46,950 per kilogram on 26th September.
- There was weak industrial support in the silver market bringing about a drop in its prices.
- The dollar strengthened leading to a bearish trend in the global market.
- Silver dropped to Rs.45,750 per kilogram by 30th September.
- Despite silver dropping this week, the month saw an overall incline of 1.16%.
|Highest Price||Rs.49,670 per kilogram on 3rd August|
|Lowest Price||Rs.44,805 per kilogram on 29th August|
August '16 – Weeks 1 (1st to 7th)
- Global market trends were positive sending silver rates surging at the beginning of the week.
- Silver traded at Rs.49,430 on 1st August and touched Rs.49,670 on 3rd August.
- The high rates can be attributed to fluctuations in the equities markets coupled with a weak dollar.
- Prices soon started to slip towards the end of the week with silver trading at Rs.47,255 per kilogram.
August '16 – Week 2 (8th to 14th)
- Domestic demand helped silver rates rise slightly.
- Silver traded at Rs.47,460 per kilogram on 8th August.
- By 10th August, the rate for silver was at Rs.48,595 per kilogram. This was the highest price recorded for week 2.
- Global trends dampened the markets and silver slipped to Rs.47,750 per kilogram by the end of the week.
August '16– Week 3 (15th to 21st)
- The decreasing trend continued into week 3 on account of global market trends and lesser demand in the domestic market as well.
- There was a reduction in the offtake by industrialists, coin makers and jewellers.
- Silver traded at Rs.47,750 per kilogram on 15th August and slipped even lower toRs.46,690 per kilogram by the end of the week.
August '16 – Week 4 (22nd to 28th)
- The U.S. Federal Reserve is sure of rolling out an interest rate hike soon and stated that further delays could lead to other economic risks.
- As silver is quite sensitive to the U.S. dollar the expectations of a rate hike, prices continues to slip further.
- On 22nd August, Silver traded at Rs.45,800 per kilogram and fell to Rs.45,040 per kilogram on 28th August.
August '16 - Week 5 (29th to 31st)
- The last week of August confirmed a declining trend for the month with a drop of 8.03%.
- The lowest rate for the month was recorded on 29th August at Rs.44,805 per kilogram.
- The Fed rate hike speculations along with slow demand in the domestic market did not support silver rates.
- Silver traded at Rs.45,460 per kilogram at the end of the month, a drop of Rs.3,970 compared to the start of the month.
|July 1st Rate||Rs.46,490 per 1 kg|
|July 31st Rate||Rs.48,970 per 1 kg|
|Highest Rate in July||Rs.49,745 per 1 kg on 11th of July|
|Lowest Rate in July||Rs.46,490 per 1 kg on July 1st|
July'16 - Week 1 and 2 (1st to 10th)
- Silver traded at Rs.46,490 per 1 kg on the 1st of July.
- As the demand increased, the price of silver increased to Rs.47,920 per kg on the 2nd of July.
- Silver continued to climb up and hit Rs.49,300 per kg on the 6th of July.
- Silver closed the second week at Rs.41,590 per kg on the 10th of July.
July'16 - Week 3 (11th to 17th)
- Silver opened the third week at Rs.49,745 per kg the 11th of July.
- The price of silver fell down by Rs.500 to Rs.49,245 per kg on the 12th of July.
- Silver traded at Rs.48,855 per kg on the 14th of July.
- Silver witnessed a decline as prices dropped down by Rs.15 to Rs.48.840 per kg on the 16th of July and remained the same on the 17th.
July '16 - Week 4 (18th to 24th)
- Silver opened week four at Rs.48,360 per kg on 18th of July.
- Prices came down to to Rs.46,665 per kg on the 21st of July.
- Silver traded at Rs.47,880 per kg on the 22nd of July.
- Silver price reduced to Rs.47,420 per kg on the 23rd of July and remained constant till 24th of July.
July‘16 - Week 5 (25th to 31st)
- Silver opened the week at Rs.47,160 per kg on the 25th of July.
- The price of silver increased to Rs.47,595 per kg on the 26th of July owing to better demand in the market.
- Silver further kept increasing and hit Rs.48,875 per kg on the 28th of July.
- Silver closed the month at Rs.48,970 per kg on the 31st of July.
|June 1st Rate||Rs. 38,640 per 1 kg|
|June 30th Rate||Rs. 44,635 per 1 kg|
|Highest Rate in June||Rs. 44,635 per 1 kg for 1 kg for 30th June|
|Lowest Rate in June||Rs. 44,635 per 1 kg on June 1st|
Jun'16 - Week 1 (1st to 4th)
- Silver traded at Rs. 38, 640 per 1 kg on the 1st of June.
- Silver price surged by Rs.225 per kg on the 3nd of June at Rs. 38,865 per kg.
- Silver traded at Rs.39,755 per kg on the 4th of June.
Jun'16 - Week 2 (5th to 11th)
- Silver traded at Rs. 39,755 per kg on the 5th of June as there was no change in the price from the previous week.
- The price of silver came down by Rs.65 from Rs. 39,755 per kg to Rs. 39,690 per kg on the 6th of June.
- Silver witnessed a further decline as prices dropped down to Rs. 39,585 per kg on the 8th of June.
- Prices steadily increased over the week and silver traded at Rs.41,510 per kg on the 11th of June.
Jun'16 - Week 3 (12th to 18th)
- Silver remained unchanged and traded at Rs.41,510 per kg on the 12th of June.
- Silver hit Rs.41,935 per kg on the 14th of June.
- Silver traded at Rs.42,958 per kg on the 16th of June.
- The price declined further over the week and silver hit Rs.42,235 on the 18th of June.
Jun'16 - Week 4 (19th to 25th)
- Silver traded at Rs.42,235 per kg on the 19th of June.
- Due to heavy demand in the global market,the price of silver rose to Rs.42,405 per kg on the 21st of June.
- The price of silver relatively increased over the week and hit Rs.43,465 per kg on the 24th of June.
- The price of silver remained unchanged on the 25th of June at Rs.43,465 per kg.
Jun'16 - Week 5 (26th to 30th)
- Silver traded at Rs.43,465 per kg on the 25th and 26th of June.
- The price further increased to Rs.43,980 per kg on the 29th of June.
- Silver closed the month at Rs.44,635 per kg on the 30th of June.
|1st May rate||Rs. 42,590|
|31st May rate||Rs. 39,065|
|Highest rate in May||Rs. 42,675 on 2nd May|
|Lowest rate in May||Rs. 38,795 on 30th of May|
May '16 - Weeks 1 and 2 (1st to 8th)
- Silver prices in Patna were subject the market turbulence, with prices falling and recovering slightly during the course of the week.
- Silver was priced at Rs. 42,590 per kg on the 1st of May and good demand resulted in the price rising to Rs. 42,675 per kg on the 2nd of May.
- The price dropped in the next few days, retailing at Rs. 41,595 per kg on the 6th of May before rising by Rs. 380 to Rs. 41,875 per kg on the 7th of May, with the price remaining unchanged on the 8th of May.
May '16 -Week 3 (9th to 15th)
- The third week of May saw silver prices fluctuate, with prices falling at the start of the week and later recovering slightly.
- Silver retailed at Rs. 41,725 per kg on the 9th of May, with prices falling for the next few days as demand dropped.
- Prices rose slightly to Rs. 41,570 per kg on the 12th of May after recovering from a low of Rs. 40,890 per kg on the 10th of May.
- Prices stayed constant for a few days before falling again at the end of the week to Rs. 41,255 per kg on the 15th of May.
May '16 - Week 4 (16th to 22nd)
- Speculation regarding a rate hike in the U.S. led to stocks recovering from a slump and the Dollar rising against other currencies, which led to silver rates falling.
- Silver traded at Rs. 41,255 per kg on the 16th of May, with prices rising marginally over the next day.
- The upward trend continued till the middle of the week, when prices fell to Rs. 40,825 per kg on 19th of May, followed by a further drop to Rs. 40,040 per kg as demand for silver fell.
- Prices rose marginally on the 21st and 22nd of May, when the silver price was recorded at Rs. 40,135 per kg.
May '16 - Weeks 5 and 6 (23rd to 31st)
- Silver prices fell in the last week of May to their lowest rates in the month as market forces and a strengthening Dollar kept prices low.
- Silver traded at Rs. 40,060 per kg on the 23rd of May, with the price falling to a low of Rs. 38,795 per kg on 30th May.
- Stock markets reacted to U.S. housing data figures by rallying during the week, resulting in the Dollar rising as well.
- Silver recovered by Rs. 270 per kg, closing at Rs. 39,065 on the 32st of May.
|April 1st Rate||Rs.36,780|
|April 30th Rate||Rs.42,590|
|Highest Rate in April||Rs.42,690 on the 29th of April|
|Lowest Rate in April||Rs.36,000 on the 4th of April|
|Overall Performance||Gain / Positive|
Apr'16 - Weeks 1 & 2 (1st to 10th)
- Silver rates declined during the first four days of the month after which they increased steadily for four days before gaining stability for the rest of the ten-day period.
- Prices were recorded at Rs.36,780 on the 1st of the month and Rs.36,620 on the tenth day of April.
- Prices began to increase on the fifth day of trading as industrial demand increased and international and domestic cues grew stronger.
Apr ‘16 - Week 3 (11th to 17th)
- Silver rates increased steadily during the third week of the month.
- Prices were recorded at Rs.37,115 on the first day of the week and Rs.39,110 on the last.
- Prices increased by more than Rs.2000 during the course of the week as there were no domestic or international events to affect prices.
Apr ‘16 - Week 4 (18th to 24th)
- Silver rates fluctuated during the course of the week but gained stability on the last two days of trading.
- Prices were recorded at Rs.38,920 on the 18th of April and Rs.41,155 on the 24th.
- The overall increase in prices between Sunday and Saturday was Rs.2200, making it the week with the highest gains in April.
Apr ‘16 - Week 5 (25th to 30th)
- Silver prices increased consistently over the last week of April barring marginal losses on the fourth and last day of trading.
- Prices were recorded at Rs.40,810 on the 25th of April and Rs.42,590 on the last day of the month.
|1st March rate||Rs.37,005|
|31st March rate||Rs.36,495|
|Highest rate in March||Rs.38,640 on 18th|
|Lowest rate in March||Rs.36,455 on 29th|
Mar'16 - Week 1 (1st to 6th)
- Silver rates were down as the month started.
- Prices were Rs.37,005 on 1st and Rs.36,640 on 6th.
- Silver lost a net value of Rs.365 during this week.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Silver gained a little value in the second week.
- Rates were Rs.37,695 on 7th and Rs.37,710 on 13th.
- Silver gained a net value of Rs.15 in this week.
Mar'16 - Week 3 (14th to 20th)
- The gains were larger during the third week.
- Rates were Rs.37,650 on 14th and Rs.37,865 on 20th.
- Silver gained a net value of Rs.215 over the course of the week, and also touched a monthly high figure of Rs.38,640 on 18th.
Mar'16 - Week 4 (21st to 27th)
- Silver prices depreciated in the fourth week.
- Rates were Rs.37,930 on 21st and Rs.36,685 on 27th.
- Silver lost a net value of Rs.1,245 during this week.
Mar'16 - Week 5 (28th to 31st)
- Silver continued its losing streak in the final days of the month also.
- Prices were Rs.36,570 on 28th and Rs.36,495 on 31st.
|1st February rate||Rs.34,970|
|29th February rate||Rs.36,295|
|Highest rate in February||Rs.38,640 on 12th|
|Lowest rate in February||Rs.34,970 on 1st|
Week 1 (1st to 7th)
- Silver was substantially up in the first week of February.
- Prices were Rs.34,970 on 1st and Rs.36,925 on 7th.
- Silver rose by a cumulative Rs.1,955 over the week on the back of positive global cues
Week 2 (8th to 14th)
- Silver registered more positive movement in the second week.
- Rates were Rs.36,950 on 8th and Rs.38,525 on 14th.
- Silver prices dropped till 11th before rallying on 12th and stabilizing on 13th and 14th.
Week 3 (15th to 21th)
- Silver was up again in the third week.
- Prices were Rs.37,220 on 15th and Rs.37,930 on 21st.
- Silver traded within 37,000 to 38,000 all through the week, ending at Rs.710 higher.
Week 4 (22nd to 29th)
- Silver was trading lower in the final week.
- Prices were Rs.37,615 on 22nd and Rs.36,295 on 29th.
- Prices went on a gradual decline ending at Rs.1,320 lower.
Silver as an investment in Patna
There is a view that many customers feel more secure investing in traditional forms of investment since they may be wary of financial instruments such as stocks and government bonds thanks to high rates of inflation, alleged corruption and fears about the overall business outlook. To avoid uncertainties, people, therefore, tend to prefer conventional forms of investment such as precious metals and particularly silver which is more affordable compared to gold.
Physical silver: Silver is bought in the form of coins, bars, silverware and various gift articles. Intricate and designer silver jewellery is in demand amongst the younger populace. According to market observers, the average price of silver at Rs.33,500 per kg is an attractive option for physical investment.
Silver contracts: Customers buy silver futures contracts at commodity exchanges in the country. The contracts are, however, short-term in nature. Silver micro is traded in 1 kg. Customers should bear charges such as exchange levy and stamp duty among others.
Silver rates in Patna
Silver rates in Patna have been on the decline since January 2015. The precious metal was pegged at Rs.40,065 at the start of the year but plummeted in the following months. The price of silver fell by -9.0% at Rs.36424 towards the end of the February. The downward trend continued in the months of March, April and June barring minor fluctuations. Silver was pegged at Rs.36340 towards the end of June and Rs.35476 in the month of August. The price of the yellow metal stood at Rs.36,110.00 in September and rose marginally by -4.7% at Rs. 37,915 (per kg) in October. The white precious metal is pegged at Rs.34,415 per kg as of December 2015, a 5.3% decrease from Rs.36,265 in the month of November.
Also Check Silver Price in NearBy Cities of Patna
|Silver Rate in Kolkata||Silver Rate in Raipur||Silver Rate in Guwahati|
|Silver Rate in Ranchi||Silver Rate in Lucknow|
|Also Know: Gold Rate in Patna|
Read more on Silver
- Silver – Poor Man’s Gold
- Silver Bars and Silver Coins
- Amazing Facts About Silver
- Global Demand for Silver
- Are Long Term Silver Investments a Good Idea?