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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 March 2017 (rates per kg)
|March 1st Rate||Rs.43,970 per kilogram|
|March 31st Rate||Rs.42,115 per kilogram|
|Highest Rate in March||Rs.44,100 per kilogram on March 2nd|
|Lowest Rate in March||Rs.40,040 per kilogram on March 15th|
March ‘17 - Week 1 (1st to 5th)
- Silver opened the trading for the month of March at Rs.43,970 per kilogram.
- Sustained industrial demand saw Silver climb to a month-high of Rs.44,100 per kilogram on March 2nd.
- Expected US Federal Interest Rate hikes saw the price of Silver fall to Rs.42,730 per kilogram on March 3rd.
- Demand from coin makers allowed Silver to close the week’s trading at Rs.43,295 per kilogram.
March ‘17 - Week 2 (6th to 12th)
- Silver opened the second week of trading at Rs.42,925 per kilogram.
- A dip in industrial demand saw Silver drop to Rs.41,435 per kilogram on March 9th.
- Weak industrial demand combined with an expected US Federal Interest Rate hike saw Silver plummet to Rs.40,670 per kilogram on March 10th.
- A sustained poor demand saw Silver drop to Rs.40,520 per kilogram on March 11th, which was sustained till March 12th.
March ’17- Week 3 (13th to 19th)
- Increased demand due to low prices saw silver open the third week of trading at Rs.40,760 per kilogram.
- A slump in domestic demand for the precious metal saw Silver hit its lowest price for the month at Rs.40,040 per kilogram on March 15th.
- Increasing demand due to low prices saw Silver climb to Rs.40,890 per kilogram on March 16th.
- Silver stabilized at Rs.40,815 per kilogram till the end of the third week.
March ’17- Weeks 4 (20th to 26th)
- Sustained demand saw Silver open the fourth week of trading at Rs.41,075 per kilogram.
- A stronger US Dollar saw silver slip Rs.40,725 per kilogram on March 21st.
- Low prices spurred an increase in demand, allowing Silver to climb to Rs.41,435 per kilogram on March 24th.
- Silver stabilized at Rs.41,340 per kilogram to end the week’s trade.
March ’17- Weeks 5 (27th to 31st)
- Sustained demand for Silver by industry and coin makers saw Silver open the last week of trading at Rs.41,900 per kilogram.
- A weakened US Dollar and sustained demand saw Silver climb to Rs.42,435 per kilogram on March 30th.
- A drop in domestic demand saw Silver slip to Rs.42,115 per kilogram on March 31st.
|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)
- Due to a decline in demand from coin makers and industrialists in domestic markets, silver rates were fluctuated over the course of the first week of February.
- The price of the metal was recorded at Rs.42,520 per kg on the 1st of February, followed by an increase of Rs.120 to Rs.42,640 on the 2nd day of the month.
- A fall in demand meant that the price of the metal would fall and it would trade at Rs.42,115 per kg on the 3rd of February.
- Rates rose marginally towards the end of the week, with silver trading at Rs.42,355 per kg on the 4th of February.
- Rates remained unchanged on the 5th of February and the metal closed the week at Rs.42,355 per kg, thereby marking a fall of Rs.165 between the first and the fifth of the month.
February ‘17 - Week 2 (6th to 12th)
- On the first day of the second week of February, silver prices were recorded at Rs.42,520 per kg, with the prices rising by Rs.410 to Rs.42,930 per kg on the 7th of the month. The reason for the increase in price was attributed to an increase in demand from coin makers and industrialists.
- Fluctuations in price ensued as the week progressed, with silver trading at Rs.42,950 per kg on the 9th of the month.
- A considerable decline in industrial demand was recorded a day later, as a result of which, prices fell to Rs.42,375 per kg on the 10th of February. On the 11th of February, an increase in domestic demand led to a slight incline in prices as the metal traded at Rs.42,570 per kg.
- Prices remained stable on the last day of the week, with silver trading at Rs.42,570 per kg on the 12th of February.
February ’17- Week 3 (13th to 19th)
- An increase in the value of the U.S. Dollar meant that the demand for silver was muted as the metal traded at Rs.43,280 per kg on 13th February.
- Prices fell by Rs.250 on the second day of the week to settle at Rs.43,030 per kg after which they increased consistently over the next three days due to a sudden decline in the value of the U.S. Dollar.
- Silver prices stood at Rs.43,115 per kg on the 15th of the month, after which they rose to Rs.43,385 per kg on the 16th, before increasing again to Rs.43,520 per kg on the 17th February.
- Consistent domestic demand made sure that prices remained stable on the 18th of the month as silver traded at Rs.43,400 per kg.
- The end of the week saw silver trading at Rs.43,400 per kg on the 19th of February, thereby recording an increase of Rs.120 over the course of the third week of the month.
February ’17- Weeks 4 & 5 (20th to 28th)
- Uncertainties in the market as well as fluctuations in the value of the US Dollar contributed to minor fluctuations over the first few days of the last two weeks of February.
- Silver was seen trading at Rs.43,270 on the 20th of February, after which rates rose slightly to Rs.43,285 on the 21st.
- Silver prices fell by Rs.45 to Rs.43,240 on the 22nd of the month, after which a marginal increase in demand from industrialists resulted in an increase in silver prices as the metal traded at Rs.43,295 on the 24th of February.
- A decline in market value owing to the implementation of several different measures that had the potential to affect the US market in the long term contributed to an increase in demand for bullion on the 25th of the month.
- Silver prices soared to Rs.43,910 per kg on the 25th of February, after which they remained stable on the 26th as well, and then increased further to Rs.44,110 per kg on the 27th of February.
- Silver prices increased again on the final day of the month and the metal closed the month of February priced at Rs.44,165 per kg, thereby marking an overall increase of 3.86% over the course of the month.
|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 Raipur reflected trends seen across the country, as prices rose due to an increase in industrial demand.
- Silver was priced at Rs.39,035 per kg on 1st January on strong demand from industry and a surge in local demand, resulting in prices rising to Rs.39,530 per kg on 3rd January.
- Minor fluctuations across stock markets led to demand for silver increasing, as it traded at Rs.40,670 per kg on 5th January.
- A slight dip in demand led to prices falling, as silver ended the week trading at Rs.40,390 per kg on 7th January.
January ‘17 - Week 2 (8th to 14th)
- Prices continued to rise in the second week of January, with silver trading at Rs.40,390 per kg on 8th January.
- An increase in local demand kept prices high, as silver was priced at Rs.40,815 per kg on 10th January.
- Markets dropped due to uncertainty over the direction of fiscal policies and decisions under the new administration, which increased demand for silver.
- Prices rose to Rs.41,365 per kg on 12th January but fell to Rs.41,030 per kg on 12th January due to fluctuations in demand.
- Silver traded at Rs.41,230 per kg on 14th January, recording an increase in price of Rs.840 per kg.
January ’17- Week 3 (15th to 21st)
- Silver prices rose in the third week on consistent demand, though there were dips in price due to fluctuations in demand.
- Silver was priced at Rs.41,230 per kg on 15th January, with the price rising to Rs.41,560 per kg on 16th January.
- Prices rose to Rs.41,990 per kg on 18th January as markets dropped, but a slide in industrial demand led to silver prices falling to Rs.41,675 per kg on 20th January..
- Prices rose as the week ended, with silver trading at Rs.41,930 per kg on 21st January.
January ’17- Weeks 4 & 5 (22nd to 31st)
- Silver prices in the last two weeks of January fluctuated due to market volatility, which affected demand.
- Silver was priced at Rs.41,930 per kg on 22nd January, with the price rising to a monthly high of Rs.42,180 per kg on 23rd January as the U.S. Dollar dropped on unfavourable market conditions.
- A lowering of demand from Asia led to silver prices falling, as the metal traded at Rs.41,835 per kg on 26th January.
- A marginal recovery by the markets led to demand for silver falling to Rs.41,075 per kg on 27th January.
- Prices rose as local demand increased as the month ended, with silver trading at Rs.42,010 per kg on 30th January and closing the month at Rs.41,980 per kg on 31st January.
|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 '16 - Week 1 (1st to 4th)
- Silver prices in Raipur were on the increase as the month began, trading at Rs.40,450 per kg on 1st December and rising as the week progressed.
- The fluctuating stock markets and relatively volatile U.S. Dollar led to increased demand for silver.
- Prices rose to Rs.41,070 per kg on 3rd December, remaining constant as the week ended on 4th December.
December '16 - Week 2 (5th to 11th)
- Prices were stable as the week began as demand from industry was steady.
- Silver traded at Rs.41,055 per kg on 5th December, with the price rising as demand from coin makers rose due to the low U.S. Dollar.
- Silver rose to a monthly high of Rs.41,630 per kg on 8th December as overseas demand also rose.
- Prices dipped as the week ended, with silver trading at Rs.41,35 per kg on 11th December.
December '16 - Week 3 (12th to 18th)
- Demand for silver fell in the third week as the U.S. Dollar strengthened amidst speculation of a U.S. Federal Reserve interest rate hike.
- Silver was priced at Rs.40,880 per kg on 12th December and rose marginally to Rs.41,220 per kg on 13th & 14th December.
- Prices dropped to Rs.39,230 per kg on 16th December as industrial bookings fell and demand from industry in Asia also slowed down.
- Silver ended the week trading at Rs.39,305 per kg on 18th December as investors turned to stock markets.
December '16 – Week 4 (19th to 25th)
- The run up to Christmas saw demand for silver fall still further as a surge of holiday shopping kept stock markets and currencies steady.
- Silver traded at Rs.39,435 per kg on 19th December, with the price dropping to Rs.39,195 per kg the next day on declining demand.
- Silver fell to its lowest rates for the month, trading at Rs.38,700 per kg on 23rd December as industrial and retail demand fell sharply.
- Prices recovered marginally as silver closed the week trading at Rs.38,725 per kg on 25th December.
December '16 – Week 5 (26th to 31st)
- The last week saw silver prices rise as demand increased.
- Silver was priced at Rs.38,460 per kg on 26th December and rose to Rs.39,345 per kg on 28th December as consumer demand began to rise.
- Industrial demand also increased as the U.S. Dollar fell as the U.S. Fed decided against raising interest rates.
- Stock markets also performed poorly on fears of an economic slowdown in Asia, which boosted demand for silver.
- Silver ended the year trading at Rs.39,035 per kg on 31st December, though the value of silver fell by 3.49% during the month.
|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)
- The price of silver in Mangalore appreciated in the first week on the back of strong demand from industry.
- Silver traded at Rs.42,910 per kg on 1st November, with the price rising to Rs.44,645 per kg on 3rd November as a low U.S. Dollar resulted in brisk bullion trading.
- The festive season also contributed to higher demand from the retail sector, with jewellers booking large amounts of the metal.
- Silver closed the week at Rs.44,180 per kg on 6th November.
November '16 - Week 2 (7th to 13th)
- Prices dipped as the week began due to demand fluctuations but recovered as the week progressed.
- Silver was priced at Rs.43,685 per kg on 7th November but recovered as markets fell following the announcement that Donald Trump had secured the U.S. presidency.
- The announcement of the demonetisation of large value Indian currency notes took the markets by surprise, resulting in panic buying of bullion which pushed prices higher.
- Silver traded at Rs.44,775 per kg on 11th November as market sentiment continued to be poor.
- Silver prices dropped slightly as the week ended, trading at Rs.42,005 per kg on 13th November.
November '16 - Week 3 (14th to 20th)
- Silver prices began to fall as global markets recovered and the U.S. Dollar recouped some of its losses.
- Silver traded at Rs.41,760 per kg on 14th November as the cash crunch caused due to demonetisation led to decreasing demand for silver.
- Industry also reduced its demand, leading to silver prices falling sharply.
- Silver traded at Rs.40,735 per kg on 20th November on weakening demand.
November '16 - Week 4 and 5 (21st to 30th)
- The decline in silver prices continued in the last two weeks of November as markets grew stronger and investors moved away from bullion investments.
- Silver was priced at Rs.40,890 per kg on 21st November as international trends also pointed to a weakening of silver demand.
- The price recovered marginally before falling to a monthly low of Rs.40,190 per kg on 25th November.
- The possibility of a U.S. Fed rate hike led to the U.S. Dollar surging, which affected silver demand, resulting in silver trading 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)
- Silver was priced at Rs.45,900 per kg on 1st October as industrial output was high, leading to increased demand.
- As the week progressed, demand for silver fell due to markets recovering, leading to a reduction in demand.
- Industrial demand also dropped significantly as the week ended, leading to silver prices falling steeply.
- Silver traded at Rs.41,800 per kg on 9th October, a decrease of Rs.4,100 per kg from the beginning of the week.
October ’16- Week 3 (10th-16th)
- Prices rose in the second week as domestic demand increased, with silver trading at Rs.42,600 per kg on 10th October.
- Demand from jewellers rose owing to the upcoming festive season.
- A drop in the markets due to poor economic data and predictions of slow economic growth led to demand for silver rising.
- Silver traded at Rs.41,780 per kg, the price dropping due to poor industrial demand.
October ’16- Week 4 (17th-23rd)
- The price of silver was Rs.41,970 per kg on 17th October as the demand increased due to uncertainty in the domestic markets.
- Prices were steady as industrial demand picked up, though domestic demand was stagnant.
- International cues pointed to positive trends for silver trading, resulting in domestic prices rising.
- Silver traded at Rs.42,130 per kg on 23rd October, an increase of Rs.160 in the price from the start of the week.
October ’16- Week 5 (24th-31st)
- The last week of October saw silver prices rise as festive demand pushed prices higher.
- Silver was priced at Rs.42,330 per kg on 24th October as global markets fell due to uncertainty over the U.S. elections.
- Prices rose as domestic demand increased, with silver trading at Rs.42,500 per kg on 28th October.
- Silver traded at Rs.43,035per kg on 31st October, an increase of Rs.705 per kg on 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)
- Amid dampened prospects of a Fed rate hike, silver inched upward towards the beginning of the month.
- The U.S. economic data depicted that the rate hike by Federal Reserve may not be possible this month.
- Silver traded at Rs.45,225 per kilogram in week 1 of September.
- It closed at Rs.46,760 per kilogram on the 3rd and 4th of September.
- The overall weekly incline in silver prices was recorded at 3.39%.
September '16 - Week 2 (5th to 11th)
- Silver prices remained unstable in week 2 of this month due to uncertainty in Fed rate hike.
- Silver reached Rs.46,760 per kilogram on 5th September.
- On 7th, the prices reached its highest at Rs.47,820 per kilogram.
- With the prospect of a rate hike growing stronger, silver prices trickled to Rs.46,835 per kilogram on 10th and 11th September.
September '16 - Week 3 (12th to 18th)
- Week 3 of September noted silver falling thanks to a bleak global market trend.
- Silver traded at Rs.45,715 per kilogram on 12th September.
- Demand for silver fell thanks to the downfall in the offtake from industrialists and coin makers.
- By the end of the week, silver shed Rs.1,465 per kilogram and reached Rs.45,370 per kilogram on 17th and 18th of the month.
September '16 - Week 4 (19th to 25th)
- Presidential elections being in full swing, resulted in the Fed rate hike being put on hold, which in turn led silver prices to climb.
- Silver closed at Rs.46,110 per kilogram on 19th.
- On 22nd September, silver reached the highest in the month at Rs.47,590 per kilogram.
- Although demand for silver went higher, its prices fell to Rs.47, 535 per kilogram on 23rd of the month and maintained the same rate for the rest of the week.
September '16 - Week 5 (26th to 30th)
- With inadequate industrial support towards the silver market, the metal prices dipped.
- On 26th September, silver reached Rs.46,950 per kilogram.
- The dollar became stronger resulting in a weak global market trend.
- On 30th September, silver prices fell to Rs.45,750 per kilogram.
- Despite a downward trend in silver prices, the month reported an overall increase 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)
- 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