Silver Rate In Shimla

  • Today's Silver Rate In Shimla ( 28 Jan 2021 )

    ₹ 66.2
    Today's Silver Rate per gram

    Compare Silver Rate In Shimla (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Silver (1 gram) ₹ 66.2 ₹ 66.5 ₹ -0.3 ↓
    Bar Silver (1 Kg) ₹ 66,200 ₹ 66,500 ₹ -300 ↓

    Silver Price In Shimla For Last 10 Days

    Date Silver (1 gram) Bar Silver (1 Kg)
    27 Jan 2021 ₹ 66.2 ₹ 66,200
    26 Jan 2021 ₹ 66.5 ₹ 66,500
    25 Jan 2021 ₹ 66.7 ₹ 66,700
    24 Jan 2021 ₹ 71.4 ₹ 71,400
    23 Jan 2021 ₹ 71.4 ₹ 71,400
    22 Jan 2021 ₹ 71.5 ₹ 71,500
    21 Jan 2021 ₹ 72.5 ₹ 72,500
    20 Jan 2021 ₹ 71.2 ₹ 71,200
    19 Jan 2021 ₹ 70.6 ₹ 70,600
    18 Jan 2021 ₹ 69.7 ₹ 69,700

    Weekly & Monthly Graph of Silver Rate in Shimla

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    • 6 Months

    *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 Rate in Shimla

    The summer capital of erstwhile British India, Shimla occupies a close place in the history of our country. A tourist destination for thousands, the city is known for its scenic beauty and unique cultural identity. Silver forms an intrinsic component of life here, with it being used as an accessory to complement the local way of dressing. Silver rates in the city are predominantly dependent on international prices, with the cost changing on a regular basis.

    Today's Gold Rate in Shimla

    Trend of Silver Rate in Shimla for December 2020 (rates per kg)

    Parameters Silver Price (per kg)
    December 1 Rate Rs.64,600 per kg
    December 31 Rate Rs.72,300 per kg
    Highest Rate in December Rs.74,100 per kg on 21 December
    Lowest Rate in December Rs.63,400 per kg on 10 December
    Overall Monthly Performance Incline
    Percentage Change 11.91%

    Trend of Silver Rate in Shimla for November 2020 (rates per kg)

    Parameters Silver Price (per kg)
    November 1 Rate Rs.60,100 per kg
    November 30 Rate Rs.64,700 per kg
    Highest Rate in November Rs.67,700 per kg on 18 November
    Lowest Rate in November Rs.60,100 per kg on 1 November
    Overall Monthly Performance Incline
    Percentage Change 7.65%

    Trend of Silver Rate in Shimla for October 2020 (rates per kg)

    Parameters Silver Price (per kg)
    October 1 Rate Rs.60,700 per kg
    October 31 Rate Rs.61,000 per kg
    Highest Rate in October Rs.63,500 per kg on 21 October
    Lowest Rate in October Rs.60,210 per kg on 8 October
    Overall Monthly Performance Incline
    Percentage Change 0.49%

    Trend of Silver Rate in Shimla for September 2020 (rates per kg)

    Parameters Silver Price (per kg)
    September 1 Rate Rs.76,500 per kg
    September 30 Rate Rs.62,500 per kg
    Highest Rate in September Rs.76,500 per kg on 1 September
    Lowest Rate in September Rs.58,500 per kg on 24 September
    Overall Monthly Performance Decline
    Percentage Change -18.30%

    Trend of Silver Rate in Shimla for August 2020 (rates per kg)

    Parameters Silver Price (per kg)
    August 1 Rate Rs.65,010 per kg
    August 31 Rate Rs.66,370 per kg
    Highest Rate in August Rs.76,520 per kg on 8 August
    Lowest Rate in August Rs.65,010 per kg on 1 and 13 August
    Overall Monthly Performance Incline
    Percentage Change 2.09%

    Trend of Silver Rate in Shimla for July 2020 (rates per kg)

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

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

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

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

    Parameters Silver Price (per kg)
    May 1 Rate Rs.42,530 per kg
    May 31 Rate Rs.50,100 per kg
    Highest Rate in May Rs.51,400 per kg on 25 May
    Lowest Rate in May Rs.41,010 per kg on 2 May
    Overall Monthly Performance Incline
    Percentage Change 17.79%
    • On 1 May, the price of silver stood at Rs.42,530 per kg. By 3 May, the rates of the white metal had fallen to Rs.41,210 per kg. The metal saw its price fall as the U.S.dollar had firmed however the prices had been trading above the previous session's low as the risk sentiment saw a decrease after the increasing U.S.-China tensions over the recent wide-spread Coronavirus. On 7 May, the rates of the metal had increased to Rs.42,010 per kg. Silver prices had risen after a drop during the previous trading rally as a weak and grim U.S. economic data had underscored the impact of the virus. Investors had been waiting for the jobless claims report to be released. The week ended with silver being priced at Rs.43,510 per kg.
    • The second week of the month started with the metal standing at Rs.43,610 per kg. After the price of the metal had risen on 10 May and 11 May, silver rates had fallen to Rs.43,090 per kg. The rates had decreased as the U.S. dollar had gained from safe-haven buying which was driven by the wide-spread fears over another wave of the coronavirus hitting the economy. On 15 May, the price of silver had gained to Rs.43,160 per kg. Silver prices had risen to be below the three-week high that it achieved during the previous session, and this was underpinned by talks about another U.S. stimulus. This was also driven by increasing U.S.-China tensions. The price of the metal had increased to Rs.46,900 per kg on 16 May, the last day of the week. This increase in price was led by the increasing trade tensions between the U.S. and China. This had in turn added to the fears over a weak global economy which was just recovering from the impact of the coronavirus.
    • The third week opened with the metal being priced lower at Rs.46,710 per kg. The price decrease from a high was due to a surge in stocks and oil over the optimism of a potential vaccine for the Coronavirus. The prices kept fluctuating over the next few days and then hit Rs.48,200 per kg on 21 May. The rates of silver continued to increase. On 23 May, the week ended with the metal being sold at Rs.48,350 per kg. This increase in silver rates was due to the fears over a long global economic weakness and this pushed aside a premature enthusiasm over a possible vaccine for the coronavirus. This had led investors to seek refuge in this safe-haven metal.
    • On 24 May, silver was trading at Rs.48,360 per kg. The price of the metal had then hit its highest price for the month on 25 May 2020 at Rs.51,400 per kg. The rates had inched higher due to the increasing concerns over the U.S.-China relations and this had an impact on the risk appetite of investors. The price had then decreased to Rs.48,000 per kg on 26 May. After increasing to Rs.48,700 per kg on 27 May, the rates of silver had fallen to Rs.47,910 per kg on 28 May. The week had closed with the metal standing at Rs.48,560 per kg. The month had ended with silver being sold at Rs.50,100 per kg. During this month, the metal saw an overall increase in its price by 17.79%.

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

    Parameters Silver Price (per kg)
    April 1 Rate Rs.40,500 per kg
    April 30 Rate Rs.41,520 per kg
    Highest Rate in April Rs.42,710 per kg on 21 April
    Lowest Rate in April Rs.40,360 per kg on 6 April
    Overall Monthly Performance Incline
    Percentage Change 2.51%
    • The price of silver in Shimla was Rs.40,500 per kg on the first day of the month. This stayed constant for the first five days. This was on the back of the US dollar that was holding strong ins spite of market conditions. However, it took a sudden dive to Rs.40,360 on 6 April, which was also the lowest price for the month of April. This sudden dip in the bullion can be attributed to a comeback in equities with a slowdown of the coronavirus pandemic related deaths across the world.
    • In the second week, prices slowly inched back up, exceeding the price it had opened with, hovering around Rs.41,100 over several days in the second week of April. This was in response to expectation around a stimulus package to be released by the US Federal Reserve in response to the coronavirus pandemic. News that the pandemic was nearing its peak worldwide further resulted in a steadying of prices of precious metals.
    • Silver kept rising steadily from that point throughout the third week of April, hitting the highest price point on 21 April at Rs.42,710 per kg. The rise in prices during the third week of April was in response to various stimulus measures that were released by central banks around the world to counter the economic fallout of the coronavirus. Fears of a global recession continued to help to keep the prices of precious metals steady throughout this third week of April.
    • While the price of silver dipped a bit in the last week of the month, it still held steady and was more than the price at which it opened in April. The lifting of lockdowns in several countries, combined with various stimulus packages, resulted in the appetite for equities and risks increasing, thus preventing the prices of silver to increase any further.
    • Overall, the prices of silver for the month of April was a steady incline of 2.51% which was in keeping with the global market conditions.

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

    Parameters Silver Price (per kg
    March 1 Rate Rs.47,400 per kg
    March 31 Rate Rs.40,500 per kg
    Highest Rate in March Rs.50,700 per kg on 6 March
    Lowest Rate in March Rs.37,800 per kg on 19 March
    Overall Monthly Performance Decline
    Percentage Change -14.5%
    • In Shimla, silver opened at a price of Rs.47,400 per kg on 1 March, which was a nearly 1% rise since its freefall in the month of February. This was due to the coronavirus impact on equities and world economies. This was a recovery from its previous biggest one-day decline in almost 7 years. Expectations of the US Federal Reserve cutting interest rates also led to an incline in prices.
    • By the second week, it rose to its highest rate of the month on 6 March, which was Rs.50,700 per kg. This was the biggest weekly gain in almost 11 years. The increasing spread of Covid-19 to more than 180 countries worldwide led to its appeal as a safe haven increasing for investors as global equities went on a downward trend.
    • Towards the middle and third week of March, silver again fell, hitting its lowest rate on 19 March of Rs.37,800 per kg. This was a drop of nearly 1% as investors started liquidating even safe investments, stocking up on cash instead, as fears of a global recession loomed large. The dollar also jumped to its highest in many years, leading to a further dip in the prices of precious metals.
    • By the end of the month, silver had managed to recover from its previous slump to rise to a modest Rs.40,500 per kg on 31 March. However, experts still saw it as being on track for a quarterly rise as the global damage caused by the coronavirus did not seem to be declining any time soon.
    • The overall performance of silver in the month of March in Shimla was a downward performance with a negative percentage, standing at –14.5%.

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

    Parameters Silver Price (per kg)
    February 1 Rate Rs.50,300 per kg
    February 29 Rate Rs.47,400 per kg
    Highest Rate in February Rs.52,900 per kg on 24 February
    Lowest Rate in February Rs.47,400 per kg on 29 February
    Overall Monthly Performance Decline
    Percentage Change -5.76%
    • In Shimla, the month of February started with the rate of silver standing at the rate of Rs.50,300 per kg. At the time when the international economy is likely to slow down owing to the break of the Corona virus in China, silver is now a good investment option.
    • During the month, the precious metal has hit the highest price point on 24 February when it stood at the rate of Rs.52,900 per kg. The lowest recorded rate for the month of February was Rs.47,400 per kg and it was recorded on 29 February 2020. The report of Corona virus hitting 6 other countries had taken a toll in the market.
    • There was a hefty drop in the price of the precious metal and one of the main reasons behind the drop in price was caused after the World Health Organisation announced that Corona virus has turned out to be a global epidemic. The price of silver came to a close at the rate of Rs.47,400 per kg for the month of February 2020.
    • The overall performance of the metal witnessed a percentage change of –5.76% for the month of February 2020.

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

    Parameters Silver Price (per kg)
    January 1 Rate Rs.50,300 per kg
    January 31 Rate Rs.50,200 per kg
    Highest Rate in January Rs.52,600 per kg on 8 January
    Lowest Rate in January Rs.49,200 per kg on 30 January
    Overall Monthly Performance Decline
    Percentage Change -0.19%
    • The prices of silver in Shimla saw an overall decline of 0.19% for the month of January. The prices of the white metal for the month of January opened at Rs.50,300 per kg and closed at Rs.50,200 per kg.
    • When compared to the last day of 2019, the prices of silver declined by Rs.600 on 1 January 2020. However, during the initial days of the month, silver saw a gain in prices because of the tensions between Iran and the US.
    • Silver prices hit its highest rate during the initial days of the month as well and touched Rs.52,600 per kg. However, the prices of silver fluctuated after 8 January 2020 due to various factors such as the trade deal concerns, the demand for riskier assets, and concerns over the coronavirus.
    • Silver hit its lowest rate for the month on 30 January and touched Rs.49,200 for a kg.

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    Details of Silver Price in Shimla (1 Kg) - Till December 2015

    Silver prices in Shimla closely mimic the prices across the country, with minor differences. The current cost of 1 kg silver in the city is Rs 36,325 (as on December 22, 2015). The current prices have stabilised after a lull in the market, which saw rates drop to as low as Rs 35,400 in early December. The cost of a kg silver in the city has remained under the Rs 39,000 mark for most of the year, peaking at Rs 43,400 in May. March and July were good months for people to buy the metal, with prices remaining close to Rs 35,000 per kg.

    Silver as an investment

    Silver is viewed as a safe and dependable metal, offering decent returns on investment. It is the mainstay for millions who cannot afford gold or other precious metals in the state, providing them an opportunity to build an investment portfolio without having to empty their bank accounts. The high demand for silver coupled with its limited supply make it perfect for both long term and short term investments. With silver considered auspicious by millions in the country, it serves a dual purpose, becoming part of their way of life and an additional investment. Purchasing silver in its physical form and through silver contracts are two of the popular modes of investing in the white metal.

    Physical silver – Silver can be moulded and carved into different shapes and sizes, making it a metal which can be custom made to meet a particular budget. Silver bars, coins and jewellery continue to be extremely popular in Shimla, with jewellers across the city offering products ranging from bangles, necklaces, rings, etc. at affordable rates. Silver jewellery forms an integral part of celebrations and functions in Shimla, with it being considered a family heirloom and passed on from generation to generation, making it more valuable. Silver coins and bars can be purchased in different weights, and are a better investment option, considering that there are no making and wastage charges involved with them.

    Silver contracts – Silver contracts and futures are ideal for people who are aware about markets and closely follow them. With growing trading opportunities, individuals stand a chance to make quick profits by participating in them. The National Multi Commodity Exchange, the National Commodities and Derivatives Exchange and the Multi Commodity Exchange are three platforms where one can indulge in silver trade.

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