Silver Rate in Raipur

  • Today's Silver Rate In Raipur ( 15 Aug 2020 )

    ₹ 66.95
    Today's Silver Rate per gram

    Compare Silver Rate In Raipur (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Silver (1 gram) ₹ 66.95 ₹ 65.01 ₹ 1.94 ↑
    Bar Silver (1 Kg) ₹ 66,950 ₹ 65,010 ₹ 1,940 ↑

    Silver Price In Raipur For Last 10 Days

    Date Silver (1 gram) Bar Silver (1 Kg)
    14 Aug 2020 ₹ 66.95 ₹ 66,950
    13 Aug 2020 ₹ 65.01 ₹ 65,010
    12 Aug 2020 ₹ 72.55 ₹ 72,550
    11 Aug 2020 ₹ 75.16 ₹ 75,160
    10 Aug 2020 ₹ 74.22 ₹ 74,220
    09 Aug 2020 ₹ 74.21 ₹ 74,210
    08 Aug 2020 ₹ 76.52 ₹ 76,520
    07 Aug 2020 ₹ 73.51 ₹ 73,510
    06 Aug 2020 ₹ 71.51 ₹ 71,510
    05 Aug 2020 ₹ 65.06 ₹ 65,060

    Weekly & Monthly Graph of Silver Rate in Raipur

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    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Silver Price in 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 July 2020 (rates per kg)

    Parameters Silver Price (per kg)
    July 1 Rate Rs.48,560 per kg
    July 31 Rate Rs.63,010 per kg
    Highest Rate in July Rs.66,060 per kg on 30 July
    Lowest Rate in July Rs.48,510 per kg on 5 July
    Overall Monthly Performance Incline
    Percentage Change 29.75%

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

    Parameters Silver Price (per kg)
    June 1 Rate Rs.50,120 per kg
    June 30 Rate Rs.48,510 per kg
    Highest Rate in June Rs.50,160 per kg on 2 June
    Lowest Rate in June Rs.47,110 per kg on 16 June
    Overall Monthly Performance Decline
    Percentage Change -3.21%

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

    Parameters Silver Price (per kg)
    May 1 Rate Rs.42,530 per kg
    May 31 Rate Rs.50,100 per kg
    Highest Rate in May Rs.51,400 per kg on 25 May
    Lowest Rate in May Rs.41,010 per kg on 2 May
    Overall Monthly Performance Incline
    Percentage Change 17.79%
    • In May in Raipur, silver started off at the price of Rs.42,530, which quickly declined to Rs.41,010 on 2 May, which would be the lowest price for the month. Silver first started off on a strong note as risk sentiments lowered with the rising US-China tensions creating volatility in the stock market. However, prices were impacted again as the US dollar gained strength on the back of several economic stimulus measures. However, precious metals continued to gain in appeal as a safe-haven investment with the coronavirus pandemic raging on. This led to prices picking up through the rest of the first week of the month. Even with the lockdowns being eased in various countries around the world, the economic data remained weak with a blurry forecast for the future, predicting a worsening of the economy.
    • In the second week of May, the price of silver opened at Rs.42,060 and ended the week at Rs.42,960 per kg. The gradual increase in prices was a response to the anticipation of the release of the US nonfarm payrolls data which would reveal the true extent of the economic conditions. However, a new wave of coronavirus infections kept investors risk-averse, leaning on precious metals, but the prices remained steady due to a strong US dollar. Fears of a resurgence of the virus in several countries dampened the risk appetite even further, leading to silver prices holding steady through the second week also.
    • In the third week of May, the prices of silver started at Rs.43,160 per kg and ended at Rs.48,200 per kg. This was in response to the US Federal Reserve not announcing sub-zero interest rates as was widely anticipated, the ricocheting US-China tensions, and a continuing weakening of the economy worldwide with the coronavirus not abating and the lockdown restrictions continuing. Growing concerns over a global economic recession resulted in increased appeal for safe-haven investments. However, the prices were capped from rising too high by speculation about a possible success in early-stage trials for a coronavirus vaccine, which led to interest again in equities.
    • In the fourth week of May, silver had its highest price point on 25 May at Rs.51,400 per kg, having opened at Rs.48,250 and closing the month at Rs.50,100 per kg. The rising tensions between the US and China around protests in Hong Kong contributed to stock markets being volatile and risk appetite lowering, leading to investors falling back on bullions when faced with such unpredictability. The US dollar also weakened, leading to increased prices of precious metals, in response to unpredictability around the US response to China’s announcement of a new law for Hong Kong related to national security. Overall, the trend for silver prices in May in Raipur was in keeping with global economic trends and so showed an incline of 17.79%.

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

    Parameters Silver Price (per kg)
    April 1 Rate Rs.40,500 per kg
    April 30 Rate Rs.41,520 per kg
    Highest Rate in April Rs.42,710 per kg on 21 April
    Lowest Rate in April Rs.40,360 per kg on 6 April
    Overall Monthly Performance Incline
    Percentage Change 2.51%
    • The precious metal had set foot into April and stood at Rs.40,500 per kg. The rates of silver had then stayed at the same figure for five days. The white metal had been retailed at Rs.40,500 per kg from 1 April to 5 April. On 7 April, the rates of the metal had dipped to Rs.40,360. This was driven by signs of the number of coronavirus cases decreasing in many countries. This had then boosted the equity markets. The appeal of safe-havens had then dropped. Silver was then being sold at Rs.40,370 per kg on 8 April and by 9 April, the prices had skyrocketed to Rs.41,290 per kg. The hike in price has been linked with an increase in appetite for risk and the dollar inching lower. The week had come to an end with the metal retailing at Rs.41,000 per kg on 4 April.
    • By 14 April, the prices of the metal had seen a hike to Rs.41,160 per gram. This increase has been associated with concerns over an economic fallout driven by the coronavirus. There were a lot of support measures that had also been rolled out by a few central banks. On 16 April, a lot of fears about a possible global recession had increased and the U.S. dollar gained. By 18 April, silver was priced at Rs.41,900 per kg.
    • On 20 April, the price of silver had dropped to Rs.41,170 per kg as the U.S. dollar had firmed and a lot of investors had held out hope and were optimistic that the economy would start reopening their economies. By 21 April, the rates of the metal had hiked up to Rs.42,710 per kg. This was driven by investors finding refuge in this safe-haven metal a dip in oil prices. On 23 April, the prices of silver had dipped to Rs.41,660 per kg. On 24 April, the rates of one kilogram of the metal had cost 41,420 and on 25 April, the rates had skyrocketed to Rs.42,430 per kg. On 29 April, the rates had dipped because the market had seen an increase in risk appetite for some countries that had started easing a few coronavirus-induced restrictions. April had come to an end with silver standing at Rs.41,520 on 30 April.

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

    Parameters Silver Price (per kg
    March 1 Rate Rs.47,400 per kg
    March 31 Rate Rs.40,500 per kg
    Highest Rate in March Rs.50,700 per kg on 6 March
    Lowest Rate in March Rs.37,800 per kg on 19 March
    Overall Monthly Performance Decline
    Percentage Change -14.5%
    • In March, silver saw a decline in its price by 14.5%. The rates of silver dropped from Rs.47,400 per kg to Rs.40,500 per kg. Silver opened at Rs.47,400 per kg on 1 March. On 2 March, the metal’s price hiked by Rs.1,100 to Rs.48,500 per kg. Traders hoped that the U.S. Federal Reserve would cut down the interest rate, given the current scenario of the economy. By 6 March, silver saw its prices rise to Rs.50,700 per kg (by Rs.2,200).
    • From 6 March to 8 March, silver saw a lot of changes in its price and by 9 March the rates had reached at Rs.49,200 per kg. On 10 March, the price had risen to Rs,50,000 per kg. This rise in the price of the white metal was because of the tensions and pressure that the global equities were going through. There was an increase in the demand for all safe-haven assets. The metal saw a deep fall in its rates to Rs.48,600 per kg (by Rs.1,400) on 12 March. This fall in the price of the white metal has been associated with investors selling silver. The rampant selling spree was entered into for covering the trader’s margins for stock markets.
    • By the third week, the coronavirus scare had led the white metal price to fall to Rs.45,900 per kg on 13 March. The pandemic forced investors to sell their silver and hoard liquid cash for meeting all their margin calls in an international market that was suffering due to the effect of the coronavirus. On 19 March, the metal had been priced at Rs.37,800 per kg. This fall was because of the rise in the value of the U.S. dollar coupled with investors continuing to sell their assets for hoarding cash.
    • On 23 March, the prices of the white metal had risen by Rs.600 and stood at Rs.40,700 per kg. The previous trading session had witnessed the rates of this metal increase after the U.S. Federal Reserve had announced unprecedented measures to help the economy stand back on its feet. March closed with silver being priced at Rs.40,500 per kg.

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

    Parameters Silver Price (per kg)
    February 1 Rate Rs.50,300 per kg
    February 29 Rate Rs.47,400 per kg
    Highest Rate in February Rs.52,900 per kg on 24 February
    Lowest Rate in February Rs.47,400 per kg on 29 February
    Overall Monthly Performance Decline
    Percentage Change -5.76%
    • Silver opened the month of February at Rs.50,300 per kg in Raipur. The rates witnessed a declining trend of 5.76% over the month in the city.
    • Due to the rise in the number of new coronavirus cases and deaths because of it, the demand for the white metal increased amongst investors given that the risk appetite decreased. This meant that the rates started to increase in the city.
    • From 15 February 2020, silver prices were on an upward curve. The jump in the prices was accounted to the increasing number of coronavirus cases in South Korea and its adverse effect on the global economy. The incline in the prices saw silver touch the highest price for the month on 24 February with every kilogram costing Rs.52,900.
    • Silver closed the second month of 2020 at Rs.47,400 per kg after the rates dipped considerably after 24 February. This was the lowest recorded price of the precious metal in the city.

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

    Parameters Silver Price (per kg)
    January 1 Rate Rs.50,300 per kg
    January 31 Rate Rs.50,200 per kg
    Highest Rate in January Rs.52,600 per kg on 8 January
    Lowest Rate in January Rs.49,200 per kg on 30 January
    Overall Monthly Performance Decline
    Percentage Change -0.19%
    • The price of silver in Raipur for the month of January opened and closed at Rs.50,300 per kg and Rs.50,200 per kg, respectively. Silver prices in Raipur fluctuated throughout the month of January.
    • Due to the fluctuation in prices, the prices of silver saw a decline of 0.19% over the course of the month. When compared to the last day of December 2019, the prices of silver had reduced by Rs.600 on 1 January 2020.
    • Due to the concerns in the Middle East, the prices if silver gradually increased over the first few days of the month. Silver hit its highest rate during this period as well and touched Rs.52,600.
    • The prices of silver reduced by the end of the month due to the signing of the trade deal and the demand for riskier assets. The outbreak of the coronavirus also affected the prices of silver. Silver hit its lowest rate on 30 January 2020 and touched Rs.49,200.

    Also Check Silver Price in NearBy Cities of Raipur

    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 Know: Gold Rate in Raipur

    Read more on Silver

    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.

      16 February 2016

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