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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 January 2018 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver Rate on 1st January 2018||Rs.38,925 per kg|
|Silver Rate on 31st January 2018||Rs.42,200 per kg|
|Highest Rate in January||Rs.42,700 per kg on 29 January|
|Lowest Rate in January||Rs.38,925 per kg on 1, 2 and 10 January|
|Overall Monthly Performance||Incline|
Trend of Silver Rate in Raipur 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|
December 2017 - Week 1 (1st - 10th)
- Silver trading in Raipur started off poorly due to a number of factors but improved gradually as the month progressed.
- When trading began in Chhattisgarh's capital for the last month of 2017, silver was priced at Rs.38,230 per kg.
- Due to an increased demand from various industrial regions and coin makers in the city, silver prices ascended to Rs.38,815 per kg on the 2nd day of the week.
- Silver prices in Raipur continued at Rs.38,815 per gram on the 3rd before dropping to Rs.38,005 per kg on the 4th owing to a slowdown in purchase quantities.
- Poor cues from the international market affected local sales on the 5th. This led to a decline in rates and the metal traded at Rs.37,965 per kg on the 6th.
- Demand rose again on the 7th for the metal to sell at Rs.38,395 per kg as there was a major spurt in sales.
- As this high demand was unsustainable, silver prices slowed down over the subsequent days of the week.
- Silver rates improved towards the final two days of this week, which was evident with the Rs.36,715 per kg trading price.
December 2017 - Week 2 (11th - 17th)
- Trading this week witnessed considerable ups and downs due to quick changes in the USD - INR dynamic as well as the marketing conditions.
- The first three days of this week saw prices fall as the US dollar seemed to gain against other major currencies, thereby affecting purchases.
- On the 11th of December, the white metal traded at Rs.36,920 per kg, which then declined to Rs.36,620 per kg the next day.
- The 13th recorded the lowest silver rate for the month as a rising greenback contributed to poor local trade. Silver traded at Rs.36,545 per kg throughout the day.
- However, a sudden fall in the dollar amid growing concerns over the Trump administration caused silver rates to surge significantly to Rs.38,395 per kg on the 14th.
- Demand simmered down the next day and so did the demand. This caused rates to drop just as much as they had risen i.e., to Rs.36,920 per kg - a Rs.1,475 decline.
- The next day, i.e., the 16th saw silver rates remain at Rs.36,920 per kg before rising slightly to hit Rs.37,180 per kg.
December 2017 - Week 3 (18th - 24th)
- During the third week, silver prices ebbed and flowed due to uneven demand.
- On the 18th, the white metal was seen trading at Rs.38,395 per kg - a Rs.1,215 increase from the previous day - courtesy of overnight trading positions.
- Demand dropped on the 19th for prices to reach Rs.37,600 per kg before hitting a high note again on the 20th to trade at Rs.38,395 per kg.
- Over the next four days, silver rates consolidated to end the week on a relatively decent note of Rs.37,965 per kg.
December 2017 - Week 4 (25 th- 31st)
- Silver rates were largely on the incline during the last week and month of 2017 with the metal seeing increased demand amid poor global conditions.
- When this week began, silver was trading at Rs.38,395 per kg - a marginal Rs.40 incline from the previous day’s rates.
- There was a slight decline the next two days, but an incline was on the cards and prices rose to Rs.38,925 per kg on the 28th of the month.
- Rates dropped before rising back to a month high rate of Rs.39,265 per kg on the 30th and continuing on till the closing hours of 2016.
- A host of factors including the capitulation of the US dollar and a steadily increasing local demand caused silver price trend to incline by 2.70% this month.
Trend of Silver Rate in Raipur 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 2 (1st to 5th):
- Silver rate in Raipur followed trends similar to other cities during the month, with prices fluctuating during the first week.
- The industrial metal was recorded trading at Rs.38,995 per kg on the 1st following a steady demand from the previous week.
- A surplus increase in demand from local jewellers and coin manufacturers ahead of the festive season led to Silver price in Raipur surge to Rs.39,950 per kg on the 2nd.
- A subdued but steady local demand amid the weak trends overseas led to silver being priced at Rs.39,355 per kg on the 4th and the 5th.
November 2017 - Week 3 (6th to 12th):
- When trading commenced for the second week, silver was trading at Rs.39,355 per kg on the 6th amid a steady local demand from the previous week.
- With the world markets affected after the political unrest in the Middle East following the arrest of major Saudi officials and diplomats, demand for safe-haven assets like silver surged. This led to Silver rate in Raipur rising to Rs.40,040 per kg on the 7th.
- Demand remained steady for much of the week owing to the poor performing dollar after the Middle East crisis.
- Silver price in Raipur remained untouched at Rs.40,040 per kg over the next couple of days after a weak dollar index coupled with poor equities resulted in steady demand for the metal.
- However, with the dollar regaining its lost ground with world markets recovering from the initial shock, global demand declined marginally. This led to silver being priced at Rs.39,970 per kg from the 10th to the 12th.
November 2017 - Week 3 (13th to 19th):
- Silver opened trading at Rs.39,870 per kg on the 13th with demand relatively lower than the previous week.
- The collapse of the US markets following the failed negotiations over the Brexit led to investors gravitating towards safe-haven assets like silver. This led to Silver rate in Raipur surging to Rs.40,140 per kg on the 14th.
- Steady global demand amid the poorly performing dollar and weak equities led to silver rates being recorded at Rs.40,240 per kg on the 15th and the 16th.
- However, with world markets recovering from the initial shock, Silver price in Raipur plunged to Rs.40,040 per kg on the 17th following a muted local demand.
- The 18th witnessed silver prices surging to Rs.40,520 per kg after safe-haven demand for the metal rose with the diplomatic relations between the US and North Korea deteriorating.
- Steady global demand amid the positive trend overseas led to silver being priced at Rs.40,520 per kg on the 19th as well.
November 2017 - Week 4 (20th to 26th):
- The fourth week commenced with the white metal trading at Rs.40,440 per kg on the 20th, thanks to the well performing commodities market from the previous week.
- However, with equity markets recovering from the initial shock, demand for the bullion trade plunged. This led to Silver price in Raipur dropping to Rs.39,780 per kg on the 21st, which further plunged to Rs.39,265 per kg on the 22nd.
- The 23rd witnessed Silver rate in Raipur rebounding to Rs.40,060 per kg owing to an increase in industrial demand from the Asian markets.
- Poor trends overseas coupled with a weak domestic demand led to the week ending with silver being priced at Rs.39,780 per kg on the 26th.
November 2017 - Week 5 (27th to 30th):
- The final week of November witnessed Silver price in Raipur dropping gradually due to declining demand for the metal in the global and domestic markets.
- SIlver was priced at Rs.39,780 per kg on the 27th when the week begam.
- Poor demand for the metal amid the strong dollar index and firmer equities market led to silver prices declining to Rs.39,80 per kg and Rs.39,115 per kg on the 28th and the 29th respectively.
- The month concluded with silver trading at Rs.38,640 per kg on the 30th. Raipur recorded a decline in value of 0.91% in Silver rate in Raipur during the month owing to poor global cues and reduced local demand.
|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|
Add the below content below the table as suggested in Image.
October 2017 - Week 1 (1st - 8th)
- In Raipur, silver trading began on a relatively decent note for the month of October.
- The white metal was priced at Rs.39,530 per kg on the 1st of the month. After continuing to remain the same on the 2nd, silver rate in Raipur dropped to Rs.39,265 per kg on the 3rd.
- There was a brief surge in demand on the 4th due to favourable marketing conditions, which led to the metal trading at Rs.39,355 per kg.
- However, the 5th saw silver price in Raipur drop to Rs.39,110 per gram, which also happened to be the month’s lowest rate, due to a poor market demand.
- Demand, though seemed to pick up as local demand surged amid some positive cues from other markets.
- By the end of the week, silver rate in Raipur had surged to Rs.39,680 per kg.
October 2017 - Week 2 (9th - 16th)
- When the second week began, silver opened at a rather improved note with the rates holding at Rs.39,950 per kg.
- Trading prices rose for much of this week, thanks to solid demand from the industries as well as the coin makers.
- The 10th saw silver trading at Rs.40,060 per kg, which then rose to Rs.40,285 per kg on the 11th.
- Silver price in Raipur went up again on the 12th to Rs.40,390 per kg and continued at the same rate till the penultimate day of this week, when the metal traded at Rs.40,440 per kg.
- Rates - as seen on the 15th - was also the highest silver rate for the month.
October 2017 - Week 3 (17th - 23rd)
- The third week of October saw silver prices drop initially before improving as the week progressed.
- On the 17th of October, the white metal was priced at Rs.40,285 per kg. Silver rate in Raipur then dropped to Rs.40,060 per kg and again to Rs.39,110 per kg on the 19th of the month.
- An increased offtake from industries pushed silver rates back up briefly, and the metal traded at Rs.40,285 per kg on the 20th.
- Demand remained largely stable for the remaining days of the week and the metal first traded at Rs.40,060 per kg on the 21st and 22nd.
- Silver rate in Raipur dropped slightly to Rs.40,040 per kg on the 23rd setting a possibly weak trend for the final week of the month.
October 2017 - Week 4 (24th - 31st)
- Over the final week of October, silver prices in Raipur saw considerable fall.
- The fact that Diwali was near didn’t help with the demand and prices remained on the weaker side throughout.
- When trading began on the 24th, the white metal was trading at a decent rate of Rs.40,060 per kg.
- But, due to strong markets and the subsequent weak demand, silver prices began to slip in the local circles.
- Silver rate in Raipur fell to Rs.39, 435 per kg on the 27th and then to Rs.39,115 per kg on the 28th as demand remained characteristically poor.
- On the final day of the month, rates surged slightly to end at Rs.39,435 per kg.
- Price trends in Raipur was poor like other Indian cities, and rates dropped by 0.24% due to poor trading cues.
|Parameters||Silver price (per 1 kg)|
|Silver Rate on 1st September 2017||Rs.40,390 per kg|
|Silver Rate on 30th September 2017||Rs.39,530 per kg|
|Highest Rate in September||Rs.41,900 per kg on 9 and 10 September|
|Lowest Rate in September||Rs.39,530 per kg from 28 to 30 September|
|Overall Monthly Performance||Decline|
September 2017 - Week 1 (1st-10th)
- Silver rates in Raipur improved throughout the week with gradual increase in demand for the industrial metal.
- The week opened with silver trading at Rs.40,390 per kg on the 1st. Thanks to steady demand from industrial units and coin makers, prices remained unchanged over the next two days.
- Silver price in Raipur surged by Rs.840 per kg on the 4th which led to the metal trading at Rs.41,230 per kg.
- Weak dollar rates coupled with increasing industrial demand resulted in prices rising to Rs.41,340 per kg on the 5th and Rs.41,495 per kg on the 6th.
- Silver dropped to Rs.41,230 per kg on the 7th, before rising to Rs.41,675 per kg on the 8th due to positive global trends and increased demand from coin makers.
- The North Korean nuclear tests which proved to be successful sent global market crashing. This led to a rise in safe-haven investments subsequently rising silver rates to Rs.41,900 per kg on the 9th.
- Prices remained untouched at Rs.41,900 per kg the next day owing to steady global demand for the white metal.
September 2017 - Week 2 (11th-17th)
- Volatile markets and irregular demand around the world led to silver rates fluctuating during the week.
- The week began with silver trading relatively low at Rs.41,075 per kg from the previous week with reduced demand from coin makers and industries.
- Local demand reduced on the 12th and silver prices in Raipur dropped further to Rs.41,030 per kg.
- However, silver trade improved with increasing demand from coin makers. This led to silver rates rising marginally to Rs.41,075 per gram on the 13th.
- The US economy tanked after Hurricane Irma and Harvey having destroyed the US coast and led to reduced orders from the overseas market. This resulted in silver sliding to Rs.40,890 per kg on the 14th.
- Silver prices in in Raipur remained unchanged for the rest of the week in spite of the volatile global markets. Steady domestic demand held silver rates at Rs.40,890 per kg until the 17th.
September 2017 - Week 3 (18th-24th)
- Silver was priced at Rs.40,440 per kg on the 18th when the week began.
- The white metal trade dropped against a strong dollar rate on the 19th and rates dropped to Rs.39,670 per kg.
- Safe-haven investments inclined worldwide as overseas relations with North Korea worsened. This led to silver rates increasing to Rs.40,060 per kg on the 20th.
- However, demand for the metal in the domestic market declined which resulted in silver trade dropping to Rs.39,670 per kg on the 21st.
- The rest of the week saw silver priced at Rs.40,040 per kg with steady and sustained industrial demand for the metal.
September 2017 - Week 4 (25th-30th)
- The 25th witnessed demand for the metal dropping in Raipur and silver was trading at Rs.39,680 per kg.
- However, the arrival of Dussehra pushed sales up in the domestic market which led to the metal prices increasing to Rs.40,520 per kg on the 26th.
- Uneven global trade and poor demand resulted in silver rates falling to Rs.39,780 per kg the next day.
- Silver price in Raipur dropped further on the 28th as the US economy began to recover lost ground and silver was priced at Rs.39,530 per kg.
- The week ended on the 30th with silver rates remaining unchanged, thanks to steady domestic demand from coin makers and industrial units.
|Parameters||Silver price (per kg)|
|Silver Rate on 1st August||Rs.38,925 per kg|
|Silver Rate on 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)
- Silver prices in Raipur were similar to the trends seen in neighbouring cities.
- When the month began, silver was priced at Rs.38,925 per kg.
- Prices seemed to fall till the 3rd as the metal was trading at Rs.37,965 per gram but picked up to reach Rs.38,120 per kg on the 4th, thanks to an improved demand from jewellers.
- After this latest demand ran its course, prices fell to Rs.37,235 per kg, the lowest silver rate for this month.
August 2017 - Week 2 (7th - 13th)
- Silver rates in Raipur had improved slightly when this week began with the metal trading at Rs.37,295 per kg.
- As demand inclined slightly, prices went up to Rs.38,345 per kg on the 8th before falling to Rs.37,965 per kg on the 9th.
- With the North Korea - US conflict intensifying, the dollar fell. This led to silver prices increasing to Rs.38,925 per kg on the 10th.
- Demand increased again as a result of a weak dollar to go up to Rs.39,530 per kg on the 11th.
- On the 12th and the 13th, silver demand remained stable, which led to the metal trading at Rs.39,670 per kg till the end of the week.
August 2017 - Week 3 (14th -20th)
- Silver trading saw a few ups and downs with rates increasing and decreasing consistently this week.
- On the 14th, the metal was priced at Rs.39,670 per kg. Due to sustained demand, rates remained unchanged on the 15th as well.
- The 16th, however, saw silver prices fall to Rs.38,815 per kg as investors remained cautious.
- Silver price in Raipur were on the rise on the 17th as they hit Rs.39,530 per kg due to a weak US economic data.
- When the week ended, silver prices were recorded at Rs.39,115 per kg.
August 2017 - Week 4 (21st - 27th)
- Silver rate in Raipur seemed to be on the increase for most of the week before a rallying dollar slowed down the progress.
- On the 21st, when the fourth week commenced, silver was trading at Rs.39,115 per kg.
- A sustained demand saw to it that silver traded at Rs.39,265 per kg on the 22nd and the 23rd of the month.
- Prices continued to remain on the positive with the metal selling at Rs.39,355 per kg on the 23rd, before falling to Rs.38,995 per kg on the 4th.
- The 26th and the 27th saw silver price in Raipur remain steady at Rs.38,995 per kg as a strengthening US dollar halted silver sales to an extent.
August 2017 - Week 5 (28th - 31st)
- The final week of August began with silver trading at Rs.39,435 per kg.
- Silver rates in Raipur reached a monthly high of Rs.40,190 per kg on the 29th and remained largely unchanged on the 30th as demand improved amidst a positive global trend.
- On the last day of the month, silver prices fell to Rs.40,040 per kg, as demand fell slightly.
- Silver price trend for this month was on the increase with rates going up by 2.86%, compared to the previous month.
|Parameters||Silver price (per kg)|
|July 1st Rate||Rs.38,640 per kg|
|July 31st 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)
- Silver opened at Rs.38,640 per kg when the month of July began.
- Throughout the week, the demand for the white metal in Raipur remained weak due to weak trend overseas and poor industrial demand.
- The highest silver price for the month of July in Raipur was Rs.38,690 on the 3rd. The reason for the increase can be attributed to the increase in demand from the coin makers who 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.
- Silver closed at Rs.37,115 per kg.
July 2017 - Week 2 (10th - 16th)
- On the 10th of July, silver prices recorded the lowest rate for the month when the white metal traded at Rs.36,035 per kg. This was mainly due to poor demand from industrialists and coin makers.
- However, in the next few days the demand for silver 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)
- Many fluctuations were seen in the 3rd week of July.
- Silver opened at Rs.37,180 per kg on the 17th of the month.
- Silver prices 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)
- 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.
- Despite some significant ups and downs in trading and demand, silver price trends remained unchanged in Raipur.
|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'17 - Week 1 (1st - 4th)
- When trading started for June in Chhattisgarh's capital Raipur, silver was priced at Rs.40,285 per kg.
- As there was no steady demand from local circles, silver prices in Raipur fluctuated considerably for most of the week.
- 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 Raipur remained at Rs.40,670 as demand remained steady.
June '17 - Week 2 (5th - 11th)
- When the second week began in Raipur, 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 rate for the metal this month.
- As the U.S. economy seemed to recover from president Donald Trump’s latest controversy, 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.
- The 9th saw silver trade at Rs.40,285 per kg which then dropped to Rs.40,060 per kg on the 10th owing to a weak demand.
- When the second week’s trading came to an end in Raipur, silver rates remained at Rs.40,060 per kg.
June'17 - Week 3 (12th - 18th)
- Silver prices fluctuated significantly in Raipur during the 3rd week of June as rates fell gradually.
- 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.
- Silver rate in Raipur dropped to Rs.39,115 per kg before going up to Rs.39,265 per kg on the 15th after demand surged, thanks to some positive global cues.
- The 17th of June saw silver record its biggest price drop of Rs.535 as investors were wary of investing in the metal.
- When the week ended, silver rates were recorded at Rs.38,460 per kg.
June '17 - 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.
- Gold price in Raipur 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 came to an end, silver rates in RaipurLucknow 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'17 - Week 5 (26th - 30th)
- The last week of June began with silver trading at Rs.38,925 per kg.
- Due to demand dropping significantly, prices went down to Rs.38,455 per kg - the lowest for the month.
- On the 28th, silver price in raipur surged by Rs.6650 to Rs.39,115 per gram.
- Silver prices in Raipur declined by 3.20% during this month due to some domestic and international factors.
|Parameters||Silver Price in Raipur|
|May 1 Rate||Rs.40,040 per kg|
|May 31 Rate||Rs.40,060 per kg|
|Highest Rate in May||Rs.40,520 per kg on 30 May|
|Lowest Rate in May||Rs.37,705 per kg on 10 & 11 May|
May ’17- Week 1 (1st to 7th)
- Silver prices in Raipur were on the decline in the first week of May as demand fluctuated due to an increase in the U.S. Dollar rate.
- Silver was priced at Rs.40,040 per kg on 1 May before falling to Rs.39,115 per kg on 2 May due to a steep dip in demand from industrial units.
- Domestic demand was also poor, which negatively impacted silver prices for the rest of the week.
- The upcoming French Presidential elections and the possibility of a Euro-centric President buoyed the markets, further reducing demand for silver.
- The price fell to Rs.37,965 per kg on 5 May before recovering marginally to end the week at Rs.38,005 per kg.
May ’17- Week 2 (8th to 14th)
- Silver prices failed to recover from their slump in the previous week as markets were high following the victory of Emmanuel Macron in the French Presidential election.
- The week opened with silver priced at Rs.37,965 per kg on 8 May and prices continued to fall in the subsequent days.
- Prices fell to their lowest point of the month, trading at Rs.37,705 per kg on 10 May before a marginal increase led to silver trading at Rs.37,865 per kg on 12 May.
- An increase in local demand led to silver trading at Rs.38,005 per kg on 14 May.
May ’17- Week 3 (15th to 21st)
- The price of silver began to rise in the third week of May as the U.S. Dollar fell against other global currencies due to internal tensions and market volatility.
- Silver traded at Rs.38,230 per kg on 15 May as industrial demand picked up following a perceived slump in the markets.
- Prices rose to Rs.39,265 per kg on 18 May as local demand rose on positive cues from overseas markets.
- Increased demand from Asian markets due to the dip in the U.S. Dollar rate led to silver trading at Rs.39,115 per kg on 20 May.
- The price remained constant as the week ended, trading at Rs.39,115 per kg on 21 May.
May ’17- Week 4 (22nd to 28th)
- Prices stabilised on the penultimate week of May as demand from coin makers and retailers boosted demand for the white metal.
- Silver was priced at Rs.39,265 per kg on 22 May, with the price rising to Rs.40,040 per kg on 23 May due to a sharp increase in demand from the industrial sector.
- Prices dipped marginally for the rest of the week but demand kept rates more or less stable, as silver was priced at Rs.39,950 per kg on 25 May.
- Fears of GST adversely impacting the markets led to increased bullion purchases, which led to silver trading at Rs.40,190 per kg on 27 & 28 May.
May ’17- Week 5 (29th to 31st)
- The last week of May saw prices continue to rise which led to demand spiking as investors sought safe-haven assets due to poor market performance.
- The U.S. Dollar fell on unfavourable economic data, which led to silver trading at Rs.40,285 per kg on 29 May.
- Prices rose to Rs.40,520 per kg on 30 May, the highest for the month before demand fluctuations led to prices falling to Rs.40,060 per kg on 31 May.
- Silver registered an increase of 0.04% over the course of the month.
|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.
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