• Silver Rate in Ranchi

    Daily Silver Rates
    Date Silver (1 gram) Bar Silver (1 Kg)
    11 Dec 2018 ₹ 40.7 ₹ 40,700
    10 Dec 2018 ₹ 40.3 ₹ 40,300
    09 Dec 2018 ₹ 40.3 ₹ 40,300
    08 Dec 2018 ₹ 40.3 ₹ 40,300
    07 Dec 2018 ₹ 39.6 ₹ 39,600
    06 Dec 2018 ₹ 39.5 ₹ 39,500
    05 Dec 2018 ₹ 39.6 ₹ 39,600
    04 Dec 2018 ₹ 39.6 ₹ 39,600
    03 Dec 2018 ₹ 39 ₹ 39,000
    02 Dec 2018 ₹ 38.5 ₹ 38,500

    *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 Ranchi

    Silver is sought-after in Ranchi due to various factors. Many residents of Ranchi view the white precious metal as a form of robust investment. Silver is bought for special festive occasions and is extensively used in the form of trendy gifts and jewellery. People across different age groups buy silver in Ranchi. For most consumers in Ranchi, silver is more affordable and accessible precious metal compared to the yellow metal. Silver is also viewed as an effective hedge against overall inflation. Non-traditional investors, therefore, view silver as a safe haven.

    Silver is widely used in several industries which increases both its profile and demand in the long term. Silver in Ranchi is sold in the form of intricate silverware and other articles used during many traditional ritualistic practices in the city. Silver rate in Ranchi depends on various national and international geopolitical and economic factors such as inflation and correction in gold prices among other factors.

    Silver as an investment

    Silver has a store of value. Popularly known as ‘poor man’s gold’, silver in Ranchi is in demand as a form of investment. Compared to the yellow metal which may be out of reach for many sections given that it entails investment amounting to thousands of rupees, silver coins of small denominations can be bought for a few hundred rupees.

    Physical silver: Buying physical silver is the easiest and simplest mode of investment in Ranchi. People in Ranchi buy silver bars of varying weights (100g, 500g or 1kg) in addition to coins of different denominations. Also, different types of jewellery such as necklaces, rings, bajubandh and bracelets among many others are sold. Handcrafted jewellery is also in demand.

    Silver contracts:Silver is traded in Multi Commodity Exchange (MCX), National Commodity & Derivatives Exchange (NCDEX) and National Multi Commodity Exchange (NMCE). Silver micro is traded in 1 kg (unit) while SILVERM and SILVER 1000 are traded in units of 5 kg.

    Silver rate in Ranchi

    The rate of silver in Ranchi depends on various international factors besides developments in India. 1 kg of silver was pegged at Rs.40148 in the month of January 2015. The price of the precious white metal fell by -4.4% to Rs.38358. The price of silver hovered around Rs.37471 throughout March and April. The price of the precious metal rose by 6% to Rs.40011 in the middle of May. Silver rates in Ranchi fell in June by -6.9% to Rs.37237 in June. The price of silver continued to plummet in the latter part of 2015 barring a mini rally in the middle of August. The price of 1 kg of silver pegged at Rs. 36301 in September decreased by -2.2% to Rs.35497 in November. The price of silver further decreased by -3.2% to Rs.34360 in December.

    Trend of Silver Rate in Ranchi for September 2018 (rates per gram)

    Parameters Silver price (per kg)
    September 1 Rate Rs.40,000 per kg
    September 30 Rate Rs.41,200 per kg
    Highest Rate in September Rs.41,200 per kg on 29 and 30 September
    Lowest Rate in September Rs.39,500 per kg on 5, 7, 15-16 September
    Overall Monthly Performance Incline
    Percentage Change 3%

    Trend of Silver Rate in Ranchi for August 2018 (rates per kg)

    Parameters Silver price (per kg)
    August 1 Rate Rs.41,400 per kg
    August 31 Rate Rs.40,300 per kg
    Highest Rate in August Rs.41,400 per kg on 1 and 9 August
    Lowest Rate in August Rs.39,800 per kg from 24 August
    Overall Monthly Performance Decline
    Percentage Change -2.65%

    August 2018 - Week 1 (1 - 05):

    • Silver was priced at Rs.41,400 per kg at the start of week 1. This was recorded to be the highest price point of the metal in Ranchi for the month.
    • Demand for the metal declined on 2 August, causing the metal to trade at Rs.41,100 per kg, a Rs.300 decline from the start of the month.
    • The price of the metal increased by Rs.200 on 4 August as the value of the US dollar declined.
    • Silver, at the end of week 1 was priced at Rs.41,300 per kg, unaffected by the increased demand for the metal

    August 2018 - Week 2 (6 - 12):

    • At the start of week 2, the state experienced a drop in the demand for the metal. This naturally caused the silver price in Ranchi to decline. The metal was trading at Rs.41,300 per kg.
    • The US dollar increased in value in comparison to other currencies after their economy showed positive trends. This depleted the value of silver, and on 7 August, it was priced at Rs.41,200 per kg.
    • Two days later, silver experienced a hike in its value and was recorded to be at its highest price point for the month of August 2018. On this day, the metal was trading at Rs.41,400 per kg, which can be linked to the decline in the US dollar value.
    • This upswing in price did not last long as the metal dipped in value after domestic demand in the state plummeted as well. On 10 August, the metal was trading at Rs.41,100 per kg. Throughout the entire month, the price of silver in Ranchi was determined by the varying demand that the state experienced.
    • On the last day of week 2, silver enjoyed a rise in value as it stood at Rs.41,200 per kg.

    August 2018 - Week 3 (13 - 19):

    • Silver continued to trade at Rs.41,200 per kg at the start of the week amid steady domestic demand.
    • However, the demand plummeted 14 August and sliver was recorded to trade at Rs.40,900.
    • The US released their employment data during week 3, which had a positive effect on the economy and the dollar value, and a negative impact on the price of silver.
    • In spite of the US dollar gaining value, silver price rose as well. The price of silver as on 15 August, increased to Rs.41,100 per kg but dropped to Rs.39,900 per kg the next day.
    • During the end of week 3, silver price in the state shot up by Rs.100 per kg, and during 17 - 19 August, it was trading at Rs.40,000 per kg.

    August 2018 - Week 4 (20 - 26):

    • At the start of week 4, silver in Ranchi was trading at Rs.40,000 per kg.
    • Silver then experienced a rise in value on 22 August as it was recorded at Rs.40,100 per kg. A Rs.100 increment in comparison to the price of silver at the start of week 4.
    • Subsequently, the value of the metal dipped a couple of points as the dollar rose in value over other currencies. The metal, on 23 August, was trading at Rs.39,900 in Ranchi.
    • In the following days of week 4, domestic demand for the metal declined, thereby adversely affecting the price of silver. Silver dropped in value further as it stood at Rs.39,800 per kg.
    • However, at the end of week 4 the price of silver in Ranchi increased as it stood at Rs.40,200 per kg.

    August 2018 - Week 5 (27 - 31):

    • The fifth week started off with silver being priced the same as it did at the end of week 4.
    • Demand for the metal then increased during the course of week 5, causing the price of the metal in Ranchi to increase as well.
    • The state recorded a declining trend of -2.65% with regard to the silver price. At the end of the month, the metal traded at Rs.40,300 per kg.

    Trend of Silver Rate in Ranchi for July 2018 (rates per kg)

    Parameters Silver price (per kg)
    July 1 Rate Rs.42,800 per kg
    July 31 Rate Rs.41,400 per kg
    Highest Rate in July Rs.42,900 per kg on 9 and 10 July
    Lowest Rate in July Rs.41,200 per kg on 28 and 29 July
    Overall Monthly Performance Decline
    Percentage Change -3.27%

    July 2018- Week 1 (1-10)

    • Silver prices stood at Rs.42,800 per kg on 1 July 2018.
    • Due to poor demand from industrial sectors, on 3 July 2018, a marginal drop in silver prices was noted as the metal traded at Rs.42,400 per kg.
    • As the demand from coin makers and industrial units picked up, the price of silver in Ranchi picked up and hit Rs.42,800 per kg mid-week.
    • The highest silver price for the month of July in Ranchi was recorded on 9-10 July, when the metal traded at Rs.42,900 per kg.
    • The increase in silver rates during the last two days of the week can be attributed to favourable market conditions and the declining US dollar rates over all other currencies.

    July 2018- Week 2 (11-17)

    • Silver prices stood at Rs.42,600 per kg at the beginning of week 2 in Ranchi.
    • Silver prices in Ranchi fell throughout week 2.
    • Due to muted demand, silver prices decreased in the city. The price of silver from 12 - 14 July stood at roughly Rs.42,200 per kg.
    • On 16 July 2018, silver prices slightly increased and traded at Rs.42,300 per kg. On this day, a spike in demand was noted.
    • Though there was a decline in the US dollar value during the last few days of the week, it did not affect silver rates much.
    • Silver closed at Rs.42,100 per kg on 17 July.

    July 2018- Week 3 (18 - 24)

    • As of 18 July, silver was priced at Rs.41,700 per kg.
    • On the first day of the week, silver rates dropped by Rs.400 per kg compared to the previous day when the white metal traded at Rs.42,100 per kg.
    • The price of silver in Ranchi was directly proportional to the demand for the metal throughout the month. When the demand for the metal increased, the price of silver increased and vice versa. However, this week the value of the US dollar affected silver prices.
    • As the value of the US dollar increased, the price of silver further dipped to Rs.41,300 per kg on 20 July.
    • On 21 and 22 July, silver prices stood at Rs.41,700 per kg.
    • Though the prices slightly picked up on 21 and 22, the rates quickly fell and silver closed at Rs.41,400 per kg on 24 July.

    July 2018- Week 4 (25 - 31)

    • On 25 July 2018, silver prices increased by Rs.100 per kg and traded at Rs.41,500 per kg.
    • On 26 July, the rate of silver increased by Rs.300 per kg and traded at Rs.41,800 per kg as demand for the metal picked up.
    • On 28 and 29 July, the lowest silver price for the month of July in Ranchi was recorded when the metal traded at Rs.41,200 per kg.
    • By the end of the month, the price of silver increased as US dollar rates dropped slightly. The price of the metal stood at Rs.41,400 per kg on 30 - 31 July.
    • Overall, silver prices in Ranchi fell by 3.27% in the month of July.

    Trend of Silver Rate in Ranchi for June 2018 (rates per kg)

    Parameters Silver price (per kg)
    June 1 Rate Rs.42,800 per kg
    June 30 Rate Rs.42,800 per kg
    Highest Rate in June Rs.45,000 per kg on 15 June
    Lowest Rate in June Rs.42,600 per kg from 2 to 5 June
    Overall Monthly Performance Steady
    Percentage Change 0.00%

     

    June 2018 - Week 1 (1 - 10):

    • Silver in Ranchi was recorded trading at Rs.42,800 per kg on the 1st when the month began amid firm trends overseas.
    • With the US dollar strengthening against other major currencies, silver plunged to Rs.42,600 per kg on the 2nd.
    • Poor global cues coupled with reduced local demand led to silver price remaining untouched at Rs.42,600 per kg until the 5th.
    • However, with the US dollar losing considerably ahead of the G7 summit, investor demand surged. This led to silver being priced at Rs.43,800 per kg on the 6th.
    • Trading concluded for the week with silver rates holding at Rs.43,700 per kg on the 10th with steady demand brought about by the positive trend overseas.

    June 2018 - Week 2 (11 - 17):

    • The week began with silver priced at Rs.43,900 per kg on the 11th as investors and market participants capitalised on the previous session’s gains.
    • Silver rate in Ranchi rose to Rs.44,000 per kg on the 12th before dropping to Rs.43,900 per kg on the 13th amid the recovering dollar.
    • With the US dollar and equity markets tumbling over the next couple of days, silver prices surged considerably. This led to silver being priced at Rs.44,300 per kg and Rs.45,000 per kg on the 14th and the 15th respectively.
    • Demand, however, stabilised towards the end of the week amid the recovering US dollar and rising equities.
    • Silver was recorded trading at Rs.44,300 per kg on the 17th with subdued but steady demand from local industrial units and coin makers.

    June 2018 - Week 3 (18 - 24):

    • When trading commenced for the week, silver was recorded trading at Rs.43,400 per kg on the 18th following a Rs.900 per kg drop in prices amid the strong US greenback and well-performing equities.
    • Prices rose to Rs.43,500 per kg the next day before plummeting to Rs.43,100 per kg on the 20th with local demand being capped by poor market trends overseas.
    • On the 21st, silver dropped to Rs.42,900 per kg following a decline in industrial offtake by coin manufacturers and other industries.
    • The week came to an end with the metal trading at Rs.42,900 per kg on the 24th with subdued domestic demand against the strong US dollar.

    June 2018 - Week 4 (25 - 30):

    • The last week began witnessed silver dropping considerably with domestic demand being weighed on by the strong US dollar index and stock markets.
    • The metal was recorded trading at Rs.43,200 per kg on the 25th when the week began strong local demand amid positive overseas trends.
    • However, with the US dollar dominating against other apex currencies at the international level, silver price was recorded holding at Rs.43,000 per kg until the 28th.
    • The rest of the month saw silver rate in Ranchi holding steady at Rs.42,800 per kg with local demand capped by a strong dollar and well-performing equities.

    Trend of Silver Rate in Ranchi for May 2018 (rates per kg of silver)

    Parameters Silver price (per kg)
    May 1 Rate Rs.42,000 per kg
    May 31 Rate Rs.43,100 per kg
    Highest Rate in May Rs.43,800 per kg on 25 May
    Lowest Rate in May Rs.42,000 per kg on 1 May
    Overall Monthly Performance Incline
    Percentage Change 2.61%

    May 2018 - Week 1 (1 - 6):

    • Silver was priced at Rs.42,000 per kg when trading commenced for the fifth month of 2018 with rates slated for an increase over the course of the week.
    • On the 2nd, silver rates went up to Rs.42,600 per kg as demand for the metal on the higher side, owing to a rise in global cues.
    • Demand was steady for the remainder of the week and silver rates, as a result, didn’t record any major changes.
    • When the week ended, silver was still seen trading at Rs.42,600 per kg.

    May 2018 - Week 2 (7 - 13):

    • The second week of May began with silver rates dropping to Rs.43,200 per kg - a Rs.400 per kg  decline from the previous day’s closing rates.
    • As demand continued to slow down, silver rates in Ranchi dropped further to Rs.43,000 per kg on the 8th of the month.
    • The US and North Korea had its conflict gripping the market, which caused demand to rise after economies seemed jittery.
    • Silver rates went up to Rs.43,100 per kg on the 9th before going up further up to Rs.43,300 per kg on the 10th of May.
    • With the market plummeting, and demand from industries rising, silver rates went further up to Rs.43,500 per kg on the 11th.
    • Demand remained steady for the next few days and silver prices held on at Rs.43,500 per kg till the closing hours of the week.

    May 2018 - Week 3 (14 - 20):

    • When the third week of May began on the 14th, the white metal’s rates had risen to Rs.43,600 per kg.
    • The US - North Korea summit, which was expected to be held in Singapore seemed to be inching towards an unexpected demise, silver prices received further impetus for the growth seen over the previous few days.
    • Markets stabilised and the US dollar seemed to rise during the midweek and silver rates dropped as a result.
    • On the 15th, silver prices dropped to Rs.43,300 per kg before dropping further to Rs.43,000 per kg the next day as dollar continued to rise.
    • Rates rose briefly on the 16th to Rs.43,200 per kg as demand from industrial units and coin makers went up slightly.
    • As demand remained weak, silver rates were seen holding at Rs.43,100 per kg on the final day of the week.

    May 2018 - Week 4 (21 - 27):

    • The fourth week of May began with silver opening at Rs.43,100 per kg before surging to Rs.43,500 per kg on the 22nd.
    • Rates dropped on the 23rd, to Rs.43,300 per kg before a significant rise of Rs.500 was recorded the subsequent day.
    • On the 24th, silver traded at a monthly high rate of Rs.43,800 per kg as demand for the metal seemed to be on the rise as purchases increased.
    • Demand subsided, which caused prices to drop slowly. On the final day of this week, silver was seen trading at Rs.43,600 per kg.

    May 2018 - Week 5 (28 - 31):

    • When the final week’s trading started, silver was priced at Rs.43,100 per kg. A startling Rs.500 per kg decline from the previous day’s rates.
    • This was brought about by a poor demand, which was brought about by significantly weakened local demand and a rising dollar.
    • Rates dropped to Rs.42,900 per kg after it was confirmed that the US- North Korea summit would go on as planned.
    • Slight change in demand led to silver trading at Rs.43,100 per kg on the final day of May. Silver rates had dropped by as much as 2.61% this month, thanks to a strong demand for the metal.

    Trend of Silver Rate in Ranchi for April 2018 (rates per kg)

    Parameters Silver price (per kg)
    April 1 Rate Rs.41,400 per kg
    April 30 Rate Rs.42,300 per kg
    Highest Rate in April Rs.43,800 per kg on 20 and 22 April
    Lowest Rate in April Rs.41,000 per kg on 5 April
    Overall Monthly Performance Incline
    Percentage Change 2.17%

    Trend of Silver Rate in Ranchi for March 2018 (rates per kg)

    Parameters Silver price (per kg)
    March 1 Rate Rs.41,100 per kg
    March 31 Rate Rs.41,400 per kg
    Highest Rate in March Rs.41,900 per kg on 7 March
    Lowest Rate in March Rs.41,000 per kg on 19 and 21 March
    Overall Monthly Performance Incline
    Percentage Change 0.72%

    March 2018 - Week 1 (1st - 4th):

    • The week began with silver trading at Rs.41,100 per kg on the 1st amid positive overseas trends.
    • The month witnessed silver rate in Ranchi greatly influenced by the US central bank meeting and possible trade war fears brought about by the newly-approved US import tariffs.
    • Thanks to strong demand from industries and coin manufacturers, prices rose to Rs.41,400 per kg on the 2nd before surging further to Rs.41,600 per kg on the 3rd.
    • When trading closed for the week, the silver price in Ranchi were recorded holding at Rs.41,600 per kg on the 4th on account of steady domestic demand for the metal.

    March 2018 - Week 2 (5th - 11th):

    • The second week opened with silver priced relatively higher at Rs.41,700 per kg on the 5th with steady industrial offtake for the metal.
    • Though rates plunged to Rs.41,400 per kg the next day, silver price in Ranchi rebounded to its highest monthly figure of Rs.41,900 per kg on the 7th with strong global demand amid positive market trends.
    • The next few days saw silver rate in Ranchi dropping on account of the recovering dollar and rising equity markets. The industrial metal was recorded trading at Rs.41,500 per kg and Rs.41,300 per kg on the 8th and the 9th respectively.
    • The week came to an end with silver prices at Rs.41,600 per kg on the 11th as demand picked up following a decline in the dollar value overseas.

    March 2018 - Week 3 (12th - 18th):

    • Trading commenced for the week with silver rate in Ranchi holding firm at Rs.41,600 per kg on the 12th amid positive global trends.
    • With markets concerned over the abrupt firing on the US Secretary of State by the President, the dollar tumbled. This led to silver being priced at Rs.41,700 per kg on the 13th.
    • However, with an increase in returns in the equities market sector against expectations, the US dollar regained lost ground over the next few days.
    • The white metal was recorded trading at Rs.41,500 per kg on the 15th before plunging to Rs.41,300 per kg the next day amid the poor trend overseas.
    • The strengthening US dollar coupled with the well-performing stock markets led to silver closing at Rs.41,100 per kg on the last day of the week.

    March 2018 - Week 4 (19th - 25th):

    • When the week began, silver was recorded trading at its lowest monthly figure of Rs.41,000 per kg on the 19th with poor domestic demand amid the weak trend overseas.
    • Silver price in Ranchi recovered to Rs.41,200 per kg on the 20th before plummeting again to Rs.41,000 per kg on the 21st following a decline in demand from industrial units and coin makers.
    • Thanks to an increase in offtake for the metal, Ranchi witnessed silver rates recovering during the week.
    • The 23rd saw silver rate in Ranchi rising to Rs.41,500 per kg with demand picking up amid the losing greenback and equity markets.
    • The week ended with the industrial metal priced at Rs.41,600 per kg on the 25th amid firm market trends.

    March 2018 - Week 5 (26th - 31st):

    • The last week of trading opened with silver rates in Ranchi holding at Rs.41,600 per kg on the 26th, which rose to Rs.41,800 per kg the following day after demand picked up from coin manufacturers and industrial units amid the weakened greenback equities.
    • With demand stabilising in the domestic markets, silver rates dropped to Rs.41,500 per kg on the 28th.
    • The month came to an end with the industrial metal priced at Rs.41,400 per kg on the 31st with subdued but steady demand from industries and coin makers.
    • Steady domestic demand compounded by positive global cues led to silver prices rising by 0.72% during the course of the month.

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    News About Ranchi Silver Rate

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      Gold lost its sharp overnight gains but still managed to hold above $1,200 an ounce over other softer equities and hence still remains a safe haven for many investors.The Asian shares nearly dropped from a three week high after a drop in the U.S equities overnight.Spot gold also eased by 0.4% to $1226.61 an ounce after gaining 2 percent a day ago.

      19 February 2016

    • Rebound in Global market causes gold to fall further

      Gold price witnessed a downfall again and the rebound in global stock markets and oil prices is to be blamed for that. The yellow metal took a plunge below $1,200 per ounce which has diminished interest among safe haven seekers. The metal went through the biggest drop in seven months by losing about 4%. Spot gold also dropped by 1.5% to $1,191.40 an ounce.

      17 February 2016

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