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Silver Price in Raipur
Silver is in demand in Raipur as it is sold in many forms to cater to multiple uses in the city. For many consumers in Raipur, the white precious metal is one of the safest forms of investment in the long term during periods of lacklustre business outlook, sluggish economy, low investment, high prices, currency devaluations in addition to other forms of financial instability. Many consumers in Raipur prefer investing in silver to protect their purchasing power during periods of high inflation. Silver is widely sold in Raipur in the form of trendy silverware, items meant for traditional rituals, gift articles for weddings and festivals besides fashionable jewellery.
Many customers in Raipur prefer investing in conventional modes of investment since they may be wary of some financial instruments such as government bonds and stocks due to several reasons, including but not limited to, rising inflation, irregularities in the market and corruption scams among many others. Many consumers, therefore, turn to conventional modes of investment such as precious metals and especially silver which is more affordable than the yellow metal.
Trend of Silver Rate in Raipur for August 2016 (rates per kg)
|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)
- The month of August opened with strong silver rates as the dollar weakened in the global markets.
- Silver traded at Rs.49,430 per kilogram on 1st August and surged to Rs.49,670 per kilogram on 3rd.
- But demand slipped in the domestic market and the U.S. economy grew stronger leading to the prices of silver sliding down to Rs.47,255 per kilogram by the end of the week.
August '16 – Week 2 (8th to 14th)
- Silver rates climbed for most of the week as there was an increased offtake by industrialists, coin makers and jewellers.
- The highest rate for silver this week was on 10th August at Rs.48,595 per kilogram.
- Domestic demand was strong enough to keep prices up through trends in the global market weren’t positive.
- Eventually, silver prices dropped at the end of the week on account of the anticipation of the U.S. Federal Reserve rate hike.
- Lack of demand from investors led to prices falling to Rs.47,750 per kilogram by 13 th August.
August '16 – Week 3 (15th to 21st)
- Silver gained stability on account of sustained domestic demand coming in from jewellers and coin makers as the festive season approaches.
- Silver traded at Rs.47,750 per kilogram on 15th August and started climbing.
- Rates fluctuated through the week as positive domestic trends played against negative global trends.
- Rates dropped to Rs.46,690 per kilogram on 21st August. Prices are expected to fall further as the U.S. economy gains strength.
August '16– Week 4 (22nd to 28th)
- The U.S. policymakers were positive of a rate hike in the next few months.
- Investors were not keen on purchasing the metal as the atmosphere of the market dampened.
- Silver traded at Rs.45,800 per kilogram on 22nd August and fell to Rs.45,040 per kilogram on 28th August.
August '16 - Week 5 (29th to 31st)
- Silver prices continued to fall in the final week of August.
- The lowest price recorded for this month was on 29th August when silver was seen trading at Rs.44,805 per kilogram.
- The decline for the month was calculated at 8.03%, indicating a significant drop in prices.
- Prices of silver are expected to climb in the second half of 2016 as the festive season in India should bring in more domestic demand.
|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.
- Owing to heavy demand, silver climbed up to Rs.48,965 per kg on the 4th of July.
- Silver continued to climb up and hit Rs.49,265 per kg on the 7th of July.
- Silver closed the second week at Rs.49,745 per kg on the 10th of July.
July'16 - Week 3 (11th to 17th)
- Silver opened the at Rs.49,745 per kg the 11th of July.
- The price steadily climbed up to Rs.49,235 per kg on the 12th of July.
- Silver witnessed a decline as prices dropped down 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 traded 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 price increased to Rs.47,880 per kg on the 22nd of July.
- The precious metal closed the week at 47,420 per kg on the 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.
- Silver traded at Rs.47,595 per kg on the 26th of July.
- The price of silver dropped down by Rs.220 on the 27th of July at Rs.47,375 per kg.
- Silver hit Rs.48,785 per kg on the 29th 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 of May|
|Lowest rate in May||Rs. 38,795 on 30th of May|
May '16 - Weeks 1 and 2 (1st to 8th)
- Silver rates in Raipur began strongly for the week, but dipped towards the middle and end of the week as demand fell.
- Silver traded at Rs. 42,590 per kg on the 1st of May and traded at Rs. 42,675 per kg on the 2nd of May, an increase of Rs. 85 per kg.
- Slowing demand and market volatility led prices to f all over the following days, with silver trading at Rs. 41,835 per kg on the 5th of May and sinking further to Rs. 41,595 on the 6th of May.
- Prices slowly rose as the week ended, with the price of silver being Rs. 41,875 per kg.
May '16 -Week 3 (9th to 15th)
- The price of silver continued to fall this week as the markets recouped some of their earlier losses and the Dollar strengthened briefly.
- Silver traded at Rs. 41,725 per kg on the 9th of May, a drop of Rs. 150 per kg from the previous week.
- The Dollar strengthened and the stock markets posted gains, leading to demand for silver dropping.
- Silver traded at Rs. 40,890 on the 10th of May before prices rose to Rs. 41,255 per kg on the 15th of May.
May '16 - Week 4 (16th to 22nd)
- Prices were subject to market volatility and speculation, as news of a Federal Reserve interest rate hike in June gained ground.
- Silver traded at Rs. 41,255 per kg on the 16th of May and rose marginally to Rs. 41,545 per kg on the 17th of May before losing value over the next few days.
- The Dollar rose, leading to lower demand for silver from industry both domestically as well as overseas.
- Silver traded at Rs. 40,825 per kg on the 19th of May before falling further to Rs. 40,040 per kg on the 20th of May, a drop of Rs. 785 in one day.
- Silver prices rose marginally to Rs. 40,135 per kg on the 21st and 22nd of May.
May '16 - Weeks 5 and 6 (23rd to 31st)
- The possibility of an interest rate hike drove stock prices as well as the Dollar higher, as silver demand fell.
- The price of silver was Rs. 40,060 per kg on the 23rd of May and continued to fall, reaching Rs. 39,655 per kg on the 25th of May.
- There was a marginal price rise on the 26th of May, when silver was trading at Rs. 39,950 per kg, an increase of Rs. 295 per kg from the previous day.
- U.S. job market data speculation kept the Dollar higher over other global currencies, while Asian stocks also rose, slowing silver demand.
- The month end saw silver trade at Rs. 39,065 per kg on the 31st of May, after dropping to the lowest rate of Rs. 38,795 on 30th 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 two days of the month but increased steadily for the next few days before remaining stable from the 8th of April to the 10th.
- Prices were recorded at Rs.36,780 on the first day of the month and Rs.36,620 on the tenth.
- Prices started to rise on the fourth day of trading owing to firming international and domestic trends in addition to an increase in industrial demand.
Apr ‘16 - Week 3 (11th to 17th)
- Silver rates increased steadily during the third week of the month barring a marginal decline on the last day of trading.
- Prices were recorded at Rs.37,115 on the first day of the week and Rs.39,110 on the last.
- Prices increased by almost Rs.2000 during the course of the week.
Apr ‘16 - Week 4 (18th to 24th)
- Silver rates increased consistently over the course of the week and remained constant for the last two days of trading.
- Prices were recorded at Rs.38,920 on the first day of the month and Rs.41,115 on the last.
- The penultimate week recorded the highest increase in rates as prices jumped by almost Rs.2200 over seven days.
Apr ‘16 - Week 5 (25th to 30th)
- Silver prices continued their consistent incline over the last week of April except 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 in Raipur began on a negative note for March.
Prices were Rs.37,005 on 1st and Rs.36,640 on 6th.
- Silver appreciated on 2nd and depreciated on 3rd before staying stable from 4th to 6th.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Prices were marginally up in the second week.
- Rates were Rs.37,695 on 7th and Rs.37,710 on 13th.
- Silver appreciated on 8th before stabilizing from 9th to 13th at the same level.
Mar'16 - Week 3 (14th to 20th)
- Prices continued appreciated over the third week.
- Rates were Rs.37,650 on 14th and Rs.37,865 on 20th.
- Silver rates fluctuated all through the week before ending Rs.215 higher by end of the week.
Mar'16 - Week 4 (21st to 27th)
- Prices declined in the fourth week.
- Rates were Rs.37,930 on 21st and Rs.36,685 on 27th.
- Silver had one positive session on 22nd after which prices declined for the rest of the week.
Mar'16 - Week 5 (28th to 31st)
- Silver was down again towards the end of the month.
- Prices were Rs.36,570 on 28th and Rs.36,495 on 31st.
Silver as an investment
Many consumers in Raipur invest in silver coins and bars. While it is common knowledge that silver has a store of value, many consumers also believe that unlike paper money, the white precious metal has no counterparty risk. Many investors in Raipur consider silver as one of the robust forms of valuable investment. According to industry observers, part of the reason for silver being held in high regard stems from the fact that its price is not dependent on any one factor which makes it vulnerable for easy manipulation on a global level for a long period. The rate of the precious metal depends on several factors including its scarcity, demand and currency devaluation among others.
Physical silver: For many consumers in Raipur, silver is a conventional form of investment. Silver is sold in various forms such as intricate silverware besides ornaments traditionally worn by women. Raipur has several jewellery stores which sell various types of silver articles such as items meant for traditional rituals and gift articles among others. Custom-made designer set pieces of jewellery in addition to anklets, necklaces, toe-rings, belts and bracelets are also in demand.
Silver contracts: Consumers trade silver in three exchanges, namely National Multi Commodity Exchange, Multi Commodity Exchange and National Commodity and Derivatives Exchange (NCDEX). SILVERHEDG is traded in units of 30 kg. SILVERM (silver mini) and SILVER (1000) are traded in units of 5 kg. Silver micro (SILVERMIC) is traded in 1 kg (unit). The maximum order size of Silver mini, Silver 1000 and Silver micro is 600 kg.
Silver rate in Raipur
Silver rate in Raipur depends on a host of national and international factors influenced by various geo-political and economic developments. 1 kg of the precious metal was pegged at Rs.40252 at the start of 2015 but decreased by -4.4% to Rs.38468. The price of silver continued to slide in the following months of March and April barring a mini rally in May where 1 kg of silver was pegged at Rs.40325. However, the price of 1 kg of silver plummeted in the following month of June by -4.7% to Rs.38410. The downward slide continued in July and August at Rs.36110 and Rs.36109 respectively. The price of silver fell by -0.5% to Rs.35898 in September. The months of October and November witnessed a similar trajectory as price of 1 kg of silver fell by 2.1%. The precious metal was pegged Rs.34343 in December.
Also Check Silver Price in NearBy Cities of Raipur
|Silver Rate in Ranchi||Silver Rate in Bhopal||Silver Rate in Bhubaneswar|
|Silver Rate in Indore||Silver Rate in Nagpur|
|Also Know: Gold Rate in Raipur|
Read more on Silver
- About Silver Mining
- Amazing Facts About Silver
- Global Demand for Silver
- Silver – Poor Man’s Gold
- Silver Bars and Silver Coins
News About Raipur Silver Rate
Global trends weaken, dropping the prices of gold futures to Rs. 28,449
The prices of gold futures have dropped by Rs. 241 to Rs. 28,449, with the investors cutting their risk appetite owing to weak trends in the global front. With the prices of gold metal being on the rise and proving to be less risky, many investors are moving to the precious metal instead. The prices for the delivery of gold fell Rs. 241 to Rs. 28,449 for 10 grams, and the metal for delivery in June also declined by Rs. 207 to Rs. 28,720 for 10 grams in one lot. Even in Singapore, gold trading fell to $1,204.99 per ounce.
16th February 2016