Silver Rate in Pune _{Last Updated : 26 Jan 2021}

Silver Price in Pune

Pune is a cosmopolitan city with a high standard of living. The city has transformed itself into a professional hub and is home to some of the biggest brands in the world. Residents of the city have a high disposable income limit and silver is viewed as an interesting investment option by many of them. Given this high income, the varying silver rate does not deter Pune residents from buying it.

Trend of Silver Rate in Pune for December 2020 (rates per kg)

• Silver rate in Pune opened the month of December at Rs.64,600 per kg.
• The metal reached its highest price on 21 December and was priced at Rs.74,100 per kg. The lowest price for silver was recorded on 10 December 2020 when the metal was being sold at Rs.63,400 per kg.
• On 31 December, silver was priced at Rs.72,300 per kg. The overall trend of silver for December in Pune was an increase of 11.9%.

Trend of Silver Rate in Pune for November 2020 (rates per kg)

• Silver prices in Pune opened for the month of November at Rs.60,100 per kg, which was also the lowest price for the precious metal for the entire month in the city.
• Silver rates in Pune continued to increase through the rest of the month, hitting the highest price point of Rs.67,700 per kg on 18 November.
• The overall monthly performance of silver in Pune was on an incline with a percentage change of 7.65% through the month.
• Silver prices in Pune closed the month of November at Rs.64,700 per kg with several fluctuations in between.

Trend of Silver Rate in Pune for October 2020 (rates per kg)

• Silver prices in Pune opened at Rs.60,700 per kg in Pune and hovered around that price point until the second week when prices started picking up steadily.
• The highest silver rate in Pune in October was on 21 October while the lowest silver price in Delhi was on 21 October. The highest silver price was Rs.63,500 per kg while the lowest silver rate was Rs.60,210 per kg
• Silver price in Delhi were influenced by several global factors ranging from the ongoing Covid-19 pandemic and its effect on the global economy to the US stimulus package announcements.
• Overall, the monthly performance of silver in Delhi was on an incline with a percentage change of 0.49%.

Trend of Silver Rate in Pune for September 2020 (rates per kg)

• A kilo of silver was retailed for Rs.76,500 in Pune at the start of September. This was the highest price of the white metal for the month in the city.
• Having recorded its highest price for the month on the opening day, the price of the precious metal slipped. Over the month, silver rates fluctuated in the city and recorded its lowest price for the month on 24th September when a kilo was retailed for Rs.58,500.
• Silver price in Pune closed the month at Rs.62,500 per kg. The overall monthly performance of the valuable metal witnessed a declining trend in the city. The percentage change in the rates stood at -18.30%.

Trend of Silver Rate in Pune for August 2020 (rates per kg)

• In Pune, a kilo of silver was retailed for Rs.65,010 at the start of the month. The opening price of the metal was the lowest for the month. Compared to the price charged on the final day of the previous month, the rate was up by Rs.2,000 per kg.
• The price of silver recorded its highest price for the month on 8th August when the precious metal cost Rs.76,520 per kg in the city.
• Silver price in Pune closed the month of August at Rs.66,370 per kg. The overall performance of the metal witnessed an inclining trend in the city with the recorded percentage change being 2.09%.

Trend of Silver Rate in Pune for July 2020 (rates per kg)

• A kilo of silver was retailed for Rs.48,560 in Pune at the start of July. There was an increase of Rs.50 in the rates when compared to the closing price of the previous month.
• The price of silver increased on 2nd of July before slipping and recording its lowest price for the month on 5th July with a kilo costing Rs.48,510. Over the month, the rates of the white metal fluctuated in the city. Silver recorded its highest price for the month on 30th July when a kilo was retailed for Rs.66,060.
• Silver price in Pune closed the month at Rs.63,010 per kg. The metal’s overall performance witnessed an inclining trend with the percentage change standing at 29.75%.

Trend of Silver Rate in Pune for June 2020 (rates per kg)

• In Pune, the white metal was priced Rs.51,120 per kg at the start of the month. There was an incline of Rs.20 in the rates when compared to the closing price of the previous month.
• Silver rates saw a lot of fluctuations over the month in the city. It can be accounted to a variety of factors like increased demand, increasing number of coronavirus cases across the world denting the chance of a quick economic recovery etc.
• The precious metal which recorded its lowest price for the month on 16th June with a kilo costing Rs.47,110 closed the month at Rs.48,510 per kg. The rates witnessed a declining trend over the month with the percentage change standing at -3.21%.

Trend of Silver Rate in Pune for May 2020 (rates per kg)

• In Pune, silver prices opened the month of May at Rs.42,530 per kg and showed an overall inclining trend throughout the week and the month. On 2 May, the price of the metal dropped to Rs.41,010 per kg with investors shifting to the stock market with higher risk appetite with Japanese equities showing positive trends. With this, the price of the metal increased marginally to Rs.41,210 per kg on 3 May and further to Rs.41,220 per kg on 4 May. The price of the metal increased for the third consecutive day on 5 May, at Rs.41,520 per kg with investors shifting back to the bullion market with a lower risk appetite speculating the second wave of COVID-19 cases all over the world. The price of silver, on 6 May dipped to Rs.41,310 per kg, however, at the end of the week, silver prices increased and crossed the Rs.42,000 per kg mark. On 7 May, the price of the metal closed at Rs.42,010 per kg.
• The white metal, in the second week of the month, opened at Rs.42,060 per kg on 8 May, increasing further to Rs.43,510 per kg on 9 May. With investors shifting away from riskier assets, the price of the metal increased due to its safe-haven appeal. However, a strong dollar value cut down its gains and the precious metal was priced at Rs.43,610 per kg on 10 May. Silver prices, on 11 May, increased marginally to Rs.43,620 per kg on. However, the precious metal began showing a negative trend, dropping to Rs.43,090 per kg on 12 May and further plummeting to Rs.42,950 per kg on 13 May. With a rise in the number of fresh COVID-19 cases all over the world, risk appetite amongst investors dipped and the demand for safe-haven assets increased. With this, the price of the metal recovered marginally, increasing to Rs.42,960 per kg and crossing the Rs.43,000 per kg at the end of the week. The metal closed the second week of the month at RS.43,160 per kg on 15 May.
• In the third week of May, silver prices opened at a whopping Rs.46,900 per kg on 16 May, increasing by Rs.3,740 per kg. The rise in prices was due to rising tensions between China and the United States of America with investors awaiting the decision of the White House on the security law. However, the price of the metal dipped to Rs.46,710 per kg on 17 May with a slight rise in the value of the U.S. dollar in the economy, keeping bullion prices at bay. The price of the metal on 18 May increased marginally to Rs.46,720 per kg. On 19 May, silver prices inclined to cross the Rs.48,000 per kg mark for the first time in the month at Rs.48,510 per kg with rising tensions between the two economic superpowers. However, the price of the metal dipped in the next session and was Rs.47,670 per kg on 20 May. With tensions increasing yet again and investors awaiting the decision from the U.S., the value of the metal increased as investors remained partial towards less risky assets. The value of the metal increased on 22 May at Rs.48,250 per kg and increased to close the week at Rs.48,350 per kg on 23 May.
• Silver prices opened the last week of the month at Rs.48,360 per kg on 24 May, with a marginal incline compared to the previous week’s closing. The metal hit its highest price of the week and the month on 25 May, crossing the Rs.50,000 per kg mark, at Rs.50,400 per kg with tensions rising between the U.S. and China. The price of the metal, however, soon plummeted to Rs.48,000 per kg on 26 May with investors with a higher risk appetite shifted to the equities market. Expecting a fasting economic recovery, the safe-haven appeal of the metal dipped, and the metal recovered marginally on 27 May Rs.48,700 per kg. However, on 28 May, silver prices dropped marginally to Rs.47,910 per kg and held steady till 29 May with riots happening all over the country along with political tensions rising between the two countries. On 30 May, the price of the metal increased to Rs.48,560 per kg and closed the month and the week at Rs.50,100 per kg on 31 May.

Also Check Silver Price in NearBy Cities of Pune

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

• Silver opened the month of April at Rs.40,500 per kg in Pune. There was no change in the rates of the precious metal when compared to the closing price of the previous month. Having stayed constant for the first five days, the rates of the white metal slipped to its lowest for the month on 6th April with a kilo being retailed for Rs.40,360 in the city. The drop in the prices was accounted to signs of a slowdown due to the spread of coronavirus.
• With investors finding refuge in safe-haven assets given the dip in international crude oil prices, silver touched its highest price for the month of April on 21st April. Silver was retailed for Rs.42,710 per kg in the city.
• The white metal closed the month at Rs.41,520 per kg in Pune. Silver’s overall performance showed an incline with the percentage change being 2.51%.

Trend of Silver Rate in Pune for March 2020 (rates per kg)

• In Pune, silver price stood at Rs.47,400 per kg on the 1st of March. Compared to the previous month’s closing price, there was no change in the rates of the white metal. Over the first week, the rates were on an upward curve as there was a rebound on the expectations that the US Federal Reserve will cut the interest rates.
• The rates touched the highest for the month on 6th March with every kilogram costing Rs.50,700 in the city. This was accounted to the anticipated cut in the interest rates by the US Federal Reserve given the current scenario in the world.
• Following that, the rates started to slip in Pune as investors sought to sell off their assets and hoard cash given the rise in the US dollar and the pandemic hovering over the global markets. The dip in the prices resulted in every kilo of silver being retailed for Rs.37,800 on 19th March, the lowest recorded price for the month.
• Silver prices started to improve following that as the US Federal Reserve announced unprecedented measures to absorb the impact of coronavirus on the economy. The rates of the white metal went up to Rs.40,700 per kg by 23 March before dropping slightly the next day. The precious metal closed the month at Rs.40,500 per kg with the overall performance showing a decline in the prices.

Trend of Silver Rate in Pune for February 2020 (rates per kg)

• Opening the month of February at Rs.50,300 per kg, silver prices showed a fluctuating trend during the month with continuous inclines during the first three weeks but declining in the last week. The metal’s prices were dependant on the safe-haven demand in the global market amidst rising Coronavirus fears. With new cases being reported on an everyday basis, the metal’s prices had soared, mainly in the second and third week of the month.
• Even though China had reduced its reverse repo rates and liquidated funds to help their economy stabilise, that measure was short-lived. The virus affecting more people and the death toll increasing resulted in the price of the white metal increasing to Rs.50,000 per kg on 7 February. With constant fluctuations, silver dipped marginally in the second week of the month, but not before getting back to the Rs.50,000 per kg range by 15 February.
• In the first half of the third week, silver prices remained steady in the global markets, priced at Rs.50,400 per kg on 17 February. However, with South Korea reporting 5,000 new cases of coronavirus and the death toll increasing, investors shifted back to the bullion market due to rising fears of the virus. The price of the metal had increased to Rs.51,600 per kg on 19 February. Amidst the increasing fears, the white metal had increased by almost Rs.1,000 and was priced at Rs.52,300 per kg on 21 February.
• At the end of the month, silver prices closed at a low of Rs.47,400 per kg with a percentage decline of 5.76. Even though the trend of the metal remained positive until the end of the month after hitting the monthly high at Rs.52,900 per kg, profit booking remained the sole reason in the decline in its prices. Given the fluctuating market, traders booked profits while the price of silver was trading higher which resulted in a decrease in prices.

Trend of Silver Rate in Pune for January 2020 (rates per kg)

• The prices of silver fluctuated throughout the month of January in Pune. Silver prices opened at Rs.50,300 per kg on 1 January 2020 and closed at Rs.50,200 per kg on 31 January 2020.
• Compared to the last day of December 2019, the prices of silver were down by Rs.600.
• Over the course of the first week of January 2020, the prices of the white metal gradually increased due to the tensions between the US and Iran. On 8 January 2020, the prices of silver hit its highest rate for the month and touched Rs.52,600.
• The concerns over the coronavirus and the demand for riskier assets ensured that the prices of silver reduced by the end of the month. Overall, the prices of silver saw a decline of 0.19% in Pune for the month of January.

The Trend of Silver Rate in Pune

Silver is among the most precious metals in Pune given that it is a major city in the state having many industries. Silver is valued in Pune both as jewellery and as a form of currency. The metal has been considered an important metal showcasing wealth and value for many decades. The white metal is considered auspicious and is kept as an asset in most homes. Even if there are constant fluctuations and declines in the stock markets, the value of silver remains steady and is a reliable source of income. Silver prices depend largely on the gold prices in India and in the international market.

What Are The Factors Affecting The Silver Rate in Pune?

Many factors play a role in the fluctuating silver prices in Pune. One of the major factors which affect silver rates in Pune is the international trend of silver and gold. Along with this, the domestic demand of silver along with the fluctuating trend of the U.S. dollar also affects the prices of the metal. In many instances, geopolitical tensions between countries, uncertainties in the equities market, changes in import taxes, rate cuts by central banks play a significant role in the constant changes in silver rates.

Silver Rate in Pune – FAQs

1. Where can I buy the best quality silver in Pune?

You can visit various retailers and jewellers to check the best quality silver which can be bought in Pune.

2. Will the silver price in Pune change?

Yes, the silver rate can change in Pune depending on a number of factors such as the crude oil prices, the international trend of the bullion market, the global state of political and social tensions along with the price of the rupee and the U.S. dollar.

3. How do I know the quality of silver in Pune?

The quality of silver can be known by checking if the silver you are purchasing is sticking to a magnet. If it does, the quality of silver is not good. The best quality of silver is the Sterling Silver Alloy which has 92.6% of silver and 7.4% of other metals.

Read more on Silver

• Some Facts About Silver
• Global Silver Demand
• Hallmarking Of Silver
• Buying Silver Bars And Coins
• Why Should You Invest In Silver?

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