• Silver Rate In Shimla

    Daily Silver Rates
    Date Silver (1 gram) Bar Silver (1 Kg)
    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
    01 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 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.

    Trend of Silver Rate in Shimla 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 Shimla 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):

    • At the start of August 2018, silver commenced to trade at Rs.41,400 per kg. This was recorded to be the highest price point of the metal in Shimla for the month.
    • On the second day of the month, demand amongst local industries and jewellers declined causing the price of silver to drop as well. The metal was trading at Rs.41,100 per kg, a Rs.300 decline from the start of the month.
    • The price of the metal remained unaltered for a day but increased by Rs.200 per kg on August 4. On this day, silver in Shimla was priced at Rs.41,300. This hike in silver price may have been linked to the high demand for the metal from local industries.
    • At the end of week 1, silver in the city was recorded at Rs.41,300 per kg, unaffected by the increased demand for the metal from the previous day.

    August 2018 - Week 2 (6 - 12):

    • At the start of week 2, the city experienced a drop in the demand for metal. This naturally caused the silver price in Shimla 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 dollar value.
    • This upswing in price did not last long as the metal dipped in value after domestic demand in the city 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 Shimla was determined by the varying demand that the city 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 commenced trading at Rs.41,200 per kg at the start of the week. This was the same price as recorded at the end of week 2.
    • Silver then witnessed a drop in its value after demand in the city for the metal declined. The price on 14 August was recorded at Rs.40,900.
    • 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 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 city 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):

    • Week 4 began with silver price in Shimla being recorded at Rs.40,000 per kg.
    • Silver then experienced a rise in value on 22 August as it was recorded at Rs.40,100. 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 Shimla.
    • 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 Shimla increased as it stood at Rs.40,200 per kg.

    August 2018 - Week 5 (27 - 31):

    • In the beginning of week 5, silver in Shimla was recorded at Rs.40,200 per kg.
    • The value of silver then rose as domestic demand from industries and jewellers increased as well.
    • The silver price in Shimla for the month of August recorded a declining trend of -2.65% as it stood at Rs.40,300 per kg to end week 5.

    Trend of Silver Rate in Shimla 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 (1-7)

    • Silver was priced at Rs.42,800 per kg on 1 July as local industrial units reduced orders due to fluctuating dollar rates as well as overseas trends.
    • Though silver prices in Shimla picked up during the end of the week, the overall curve was downwards as the price of the metal was affected by the demand and fell mostly.
    • Prices dropped to Rs.42,400 per kg on 3 July as the demand for the metal from coin makers and traders fell just before the Federal Reserve testimony.
    • Silver prices rose to Rs.42,800 per kg on 4 July and remained stable for the next few days.
    • As the demand for the metal fluctuated, silver prices fell and traded at Rs.42,700 per kg on 7 July.

    July 2018- Week 2 (8-14)

    • In the second week of July, silver prices in Shimla were sluggish.
    • The metal opened at Rs.42,600 per kg on 8 July.
    • Prices rose to Rs.42,900 per kg on 9 July as investors considered bullion as a safe-haven asset.
    • As the value of the US dollar increased, silver prices fell to Rs.42,200 per kg on 12 July.
    • There was a slight recovery as the week ended, silver was priced at Rs.42,300 per kg on 14 July. This was mainly due to increase in the demand for silver domestically.

    July 2018- Week 3 (15-21)

    • Silver was sold at Rs.42,300 per kg on 15 July. No changes in silver prices were noticed on the first day of week 3.
    • On 17 July, the price of the white metal fell by Rs.200 per kg and traded at Rs.42,100 per kg.
    • Prices dropped sharply to Rs.41,700 per kg on 18 July as poor demand from local industrial units and the falling rupee affected prices.
    • Minor fluctuations in the price were observed before silver ended the week at Rs.41,700 per kg on 21 July.

    July 2018- Week 4 (22-31)

    • The price of silver rose by Rs.100 per kg and traded at Rs.41,500 per kg on 25 July.
    • As the value of the US dollar declined, silver prices spiked on 26 July to Rs.41,800 per kg.
    • As on 28 - 29 July, the price of silver stood at Rs.41,200 per kg. This was the lowest silver rate recorded in Shimla for the month of July.
    • By the end of the month, the price of silver increased as dollar rates dropped slightly. The metal stood at Rs.41,400 per kg on 30 - 31 July.
    • Overall, silver rates in Shimla for the month of July fell by 3.27%.

    Trend of Silver Rate in Shimla 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 was priced at Rs.42,800 per kg when trading started for the month of June. Rates were on the lower side this month as the US dollar seemed to be rising consistently.
    • As cues from the international market remained weak, and local demand was also on the fall, silver rates in Shimla went down to Rs.42,600 per kg on the 2nd.
    • There was low yet steady demand as a result of which silver traded at Rs.42,600 per kg from the 3rd to the 5th.
    • With the relationship between the G7 nations remaining weak ahead of the summit, the dollar collapsed. This caused silver rates to rise up to Rs.43,900 per kg on the 6th of June.
    • After the dollar improved, silver rates fell to Rs.43,800 per kg on the 7th and then to Rs.43,600 per kg on the 8th of the month.
    • Over the final two days of this week, silver traded at Rs.43,700 per kg as demand from local industries and coin makers were steady.

    June 2018 - Week 2 (11 - 17):

    • When the second week of June began on the 11th, silver was priced at Rs.43,900 per kg - a Rs.200 incline from the previous day’s rates.
    • This surged to Rs.44,000 per kg as demand for the metal improved, before falling to Rs.43,900 per kg the subsequent day after a buoyant dollar curbed the rise of the precious metal demand.
    • On the 15th, silver rate in Shimla went up to Rs.45,000 per kg - the month’s highest rate - as certain quarters of the market were cautious about the upcoming Fed meeting.
    • Once it was made clear that the outcome was positive and interest rate hikes were being considered, silver rates dropped to Rs.44,300 per kg.
    • When the week ended, silver rates were recorded at Rs.44,300 per kg.

    June 2018 - Week 3 (18 - 24):

    • The third week of June opened with silver trading at Rs.43,400 per kg - a Rs.900 drop from the previous day’s rates.
    • This dropped to Rs.43,500 per kg on the 19th before going down further to Rs.43,100 per kg on the subsequent day.
    • Silver prices continued to fall with the metal hitting Rs.42,900 per kg on the 21st, before steady demand from industries helped stabilise the prices.
    • When the week ended on the 24th, silver rates were still holding at Rs.42,900 per kg.

    June 2018 - Week 4 (25 - 30):

    • The final week of silver trading in Shimla started with the metal being priced at Rs.43,200 per kg - a Rs.300 rise from the previous day.
    • This happened because the US dollar fell slightly which the investors took advantage of by investing in silver and other precious metals.
    • As the US dollar began to climb, silver began to suffer and fell consistently over the remaining days of the month.
    • The metal traded at Rs.43,000 per kg on the 28th which then fell to Rs.42,800 per kg on the 29th as cues from the global market were weak.
    • When the month ended, silver was still priced at Rs.42,800 per kg.
    • Overall, there was 0% change in silver prices this month compared to the first day’s rate because it ended where it started, with plenty of fluctuations being recorded over the four week period.

    Trend of Silver Rate in Shimla 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 (1st -6th)

    • Demand for silver was on the increase in the first week of May, with the metal opening the week at Rs.42,000 per kg.
    • Increased demand from industrial units as well as a volatile dollar rate led to a gradual rise in price, with the industrial metal trading at Rs.42,600 per kg on 2 May.
    • Increased tensions between the United States and China over trade led to fluctuating fortunes on the market, which led to higher demand for bullion.
    • Prices remained high as steady demand from local industrial units coupled with positive market cues kept silver rates consistent.

    May 2018- Week 2 (7th-13th)

    • The second week began with silver trading at Rs.43,200 per kg on 7 May in Shimla, as the dollar was volatile ahead of U.S. jobs data.
    • Demand rose steadily as favourable market conditions as well as a low dollar rate led to an increase in orders from overseas as well as local industrial units.
    • Prices rose to Rs.43,500 per kg on 11 May as renewed tensions between the U.S. and China led to the dollar falling, as investors looked to bullion as a safe-haven asset.
    • Demand was consistent as the week ended on 13 May, though there was a slight drop in local industrial demand due to the high price.

    May 2018- Week 3 (14th-20th)

    • The third week began with silver trading at Rs.43,600 per kg on 14 May as overseas demand for safe-haven assets like bullion grew due to uncertainty over a possible trade war.
    • Prices regularised over the course of the week, with silver rates falling to Rs.43,000 per kg on 16 May amidst a recovery across stock markets.
    • The possibility of an interest rate hike as early as next month led to growing confidence in the dollar, as demand for bullion gradually fell.
    • Local demand was also on the decline, as silver traded at Rs.43,200 per kg on 18 May.
    • The week ended with silver priced at Rs.43,100 per kg on 20 May as coin makers increased demand.

    May 2018- Week 4 (21st-27th)

    • There was no change in the price of silver as the fourth week began on 21 May, as local demand was stable in spite of a rise in the dollar rate.
    • Prices rose as the fear of the imminent North Korea and U.S. talks being called off led to panic across stock markets, with the dollar also plunging.
    • Silver prices rose to Rs.43,800 per kg on 25 May as the markets continued to trade low in light of the cancellation of the summit.
    • Local demand rose marginally as the week progressed, though silver prices fell to Rs.43,600 per kg as the week ended on 27 May.

    May 2018- Week 5 (28th-31st)

    • The last week of May saw silver prices fall significantly as the summit between the U.S. and North Korea was back on, which boosted the dollar.
    • Silver was priced at Rs.43,000 per kg on 28 May, as demand weakened sharply over the weekend.
    • Prices rose marginally as silver traded at Rs.43,100 per kg on 29 May amidst a rise in local demand, though the rise was shortlived.
    • Silver fell heavily on 30 May, trading at Rs.42,900 per kg as overseas demand was static due to the stable dollar.
    • The month ended with silver priced at Rs.43,100 per kg on 31 May to record a 2.61% rise in value.

    Trend of Silver Rate in Shimla 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%

    April 2018 - Week 1 (1st - 7th):

    • The week opened with silver rates in Shimla holding at Rs.41,400 per kg on the 1st with demand on a steady note amid favourable overseas market trends.
    • With tensions rising between the US and China after the US import tariffs were raised by President Trump, demand for the metal surged.
    • The 3rd saw silver priced at Rs.41,600 per kg with steady demand from local industries and coin makers amid the weakened US dollar index.
    • However, a decline in industrial orders brought about by the recovering greenback led to rates dropping to Rs.41,300 per kg on the 4th, which plunged further to Rs.41,000 per kg - the lowest recorded monthly figure - amid the poor trend overseas.
    • The week concluded with the industrial metal closing slightly higher at Rs.41,200 per kg on the 7th with subdued but steady demand for the metal.

    April 2018 - Week 2 (8th - 15th):

    • Trading commenced for the week with the white metal priced at Rs.41,200 per kg on the 8th with domestic markets tracking a firm trend overseas.
    • Silver was recorded trading at Rs.41,300 per kg on the 10th before rising to Rs.41,700 per kg on the 11th, thanks to an increase in industrial orders at the international level.
    • Positive global cues coupled with consistent demand led to silver price in Shimla surging further to Rs.42,000 per kg on the 12th.
    • However, with the US dollar index regaining lost ground from its previous losses, investor demand for the metal declined. This led to silver being priced at Rs.41,600 per kg on the 13th.
    • Safe-haven demand surged over the next couple of days with investors banking on the assets such as the bullion following the US-led airstrikes on Syria.
    • The week came to an end with silver rate in Shimla holding firm at Rs.41,900 per kg on the 15th with steady demand from industrial units and coin makers.

    April 2018 - Week 3 (16th - 22nd):

    • The third week began with silver priced at Rs.42,100 per kg on the 16th with strong industrial orders from the Asian continent.
    • Demand for the metal surged further with geopolitical tensions between the US and North Korea pushing demand higher for safe-haven assets.
    • The 19th saw silver trading at Rs.43,700 per kg amid the weakened US dollar and losing equity markets.
    • With the greenback losing against a basket of other major emerging currencies, silver rate in Shimla rose to Rs.43,800 per kg - the highest recorded monthly figure - on the 20th.
    • Steady global demand coupled with positive market trends resulted in prices remaining untouched at Rs.43,800 per kg for the rest of the week.

    April 2018 - Week 4 (23rd - 30th):

    • The final week opened with silver price in Shimla holding at Rs.43,700 per kg on the 23rd, which dropped to Rs.43,000 per kg the following day amid the recovering US dollar and equities.
    • With demand declining over the next few days, prices dropped considerably during the course of the week.
    • The 25th saw silver rates rising to Rs.43,100 per kg before dropping to Rs.43,000 per kg on the 26th amid the poor trend overseas.
    • With industrial demand subdued due to the strengthening greenback, silver was recorded trading at Rs.42,800 per kg on the 27th and the 28th.
    • Trading concluded for the month with silver rate in Shimla holding at Rs.42,300 per kg on the 30th amid the poor trend overseas.
    • Rising geopolitical tensions coupled with market uncertainties led to silver rates rising by 2.17% during the course of the month.

    Trend of Silver Rate in Shimla 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 (1 – 4):

    • The week began in Shimla with silver trading at Rs.41,100 per kg on the 1st with steady industrial offtake in the domestic level.
    • Poor dollar performances compounded by the unevenly performing equity markets led to silver rates rising significantly during the week.
    • Prices rose to Rs.41,400 per kg the next day after the bullion market capitalised on the weakened greenback and stock markets.
    • An incline in demand local industrial units and coin makers amid the strong global cues led to silver rates surging further to Rs.41,600 per kg on the 3rd.
    • The week came to an end with the industrial metal prices holding firm at Rs.41,600 per kg on the 4th with domestic markets tracking a firm trend overseas.

    March 2018 – Week 2 (5 – 11):

    • Trading commenced for the second week silver priced at Rs.41,700 per kg on the 5th amid firm trends from the previous week.
    • Strong market uncertainties coupled with varying demand led to silver prices fluctuating throughout the week.
    • Silver prices plunged to Rs.41,400 per kg on the 6th as the US dollar index gained against a basket of other major emerging currencies in the world market.
    • However, an increase in industrial offtake for the metal despite the poor trend overseas led to silver rates rebounding to Rs.41,900 per kg on the 7th. This was also the highest recorded monthly figure in Shimla.
    • With the US dollar regaining lost ground against other apex currencies, silver rates in Shimla plunged to Rs.41,500 per kg on the 8th.
    • Prices dropped further to Rs.41,300 per kg the next day before silver rates stabilised at Rs.41,600 per kg on the 10th following an increase in purchases made by industries and coin makers.
    • The week came to an end with the white metal prices holding at Rs.41,600 per kg on the 11th with steady demand amid positive market trends.

    March 2018 – Week 3 (12 – 18):

    • The third week opened with silver priced at Rs.41,600 per kg on the 12th with domestic markets tracking steady trends from the previous week.
    • However, with the US employment data indicating a positive result on the US economic growth, the dollar index rose against a basket of other currencies. This led to silver rates dropping to Rs.41,400 per kg on the 13th.
    • Safe-haven demand for the metal spiked after the US Secretary of State Rex Tillerson was fired abruptly by the US President. With people doubting Trump’s presidency, the US dollar plummeted. This led to silver prices surging to Rs.41,700 per kg on the 14th.
    • But with investors and traders refraining from making purchases ahead of a possible Fed rate hike, silver rates dropped to Rs.41,500 per kg on the 15th.
    • Poor trends overseas coupled with reduced domestic demand led to silver being priced at Rs.41,300 per kg and Rs.41,100 per kg on the 16th and the 17th respectively.
    • The week ended with the industrial metal trading at Rs.41,100 per kg on the 18th with subdued but steady demand from industries and coin makers amid weak global cues.

    March 2018 – Week 4 (19 – 25):

    • The week began with silver trading at its lowest recorded monthly figure of Rs.41,000 per kg on the 19th after the strengthened US dollar led to a decline in domestic demand for the metal.
    • Though prices rose to Rs.41,200 per kg on the 20th, silver rates plunged again to Rs.41,000 per kg on the 21st following a surge in the US dollar value.
    • However, an incline in safe haven demand for the metal brought about by the weakened US dollar amid market uncertainties led to silver prices rising over the next couple of days.
    • Silver was recorded trading at Rs.41,500 per kg on the 22nd before surging further to Rs.41,600 per kg on the 23rd amid firm trends overseas.
    • Thanks to steady global demand from industries and coin makers amid the positive global cues, prices remained untouched at Rs.41,600 per kg until the end of the week.

    March 2018 – Week 5 (26 – 31):

    • The last week saw silver rates in Shimla rising initially before declining amid the strengthening US dollar and recovering equities.
    • Silver was priced at Rs.41,600 per kg on the 26th when the week opened.
    • Rates rose to Rs.41,800 per kg the next day after safe-haven investments surged following the ongoing US- Russian political spat overseas.
    • The dollar, however, regained ground the next day with the greenback gaining against a basket of other emerging currencies in the international market. This led to silver being priced at Rs.41,500 per kg on the 28th.
    • The strengthening US dollar coupled with firmer equity markets led to silver prices in Shimla dropping to Rs.41,400 per kg on the 29th.
    • The rest of the month saw the white metal prices holding steady at Rs.41,400 per kg with subdued but steady demand from industrial units and coin makers.
    • Shimla registered an incline of 0.72% in silver rates during the course of the month.

    Trend of Silver Rate in Shimla for February 2018 (rates per kg)

    Parameters Silver price (per kg)
    February 1 Rate Rs.42,600 per kg
    February 28 Rate Rs.41,200 per kg
    Highest Rate in February Rs.42,600 per kg on 1 and 2 February
    Lowest Rate in February Rs.40,600 per gram on 10 and 11 February
    Overall Monthly Performance Decline
    Percentage Change -3.28%

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

    • The month began in Shimla with the white metal trading at Rs.42,600 per kg on the 1st after the US dollar weakened ahead of the US employment data. This was also the lowest monthly figure recorded in the city.
    • Silver rate in Shimla remained unaltered at Rs.42,600 per kg on the 2nd owing to strong domestic demand amid the positive global cues.
    • However, the US dollar index rose against other emerging currencies after the US payrolls data proved to be stronger than expected. This led to silver price in Shimla plunging to Rs.41,700 per kg on the 3rd.
    • Thanks to the subdued but steady demand from industries and coin manufacturers, the rest of the week saw the industrial metal prices holding steady at Rs.41,700 per kg on the 4th.

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

    • When trading commenced for the second week,  silver was priced relatively lower at Rs.41,500 per kg on the 5th after demand for the metal declined amid weak global cues.
    • Though rates rose to Rs.41,900 per kg the next day, silver price in Shimla plunged to Rs.41,400 per kg on the 7th with the US dollar index rising against other apex currencies in the international market.
    • Poor trends overseas compounded by weak demand resulted in silver rates dropping further to Rs.40,800 per kg on the 8th.
    • The 9th saw the white metal rates rebounding to Rs.41,000 per kg following an unexpected incline in domestic demand despite the poor trend overseas.
    • However, with the dollar and equities market performing well in the international trade, silver rate in Shimla plummeted to Rs.40,600 per kg on the 10th. This was also the lowest recorded monthly figure in the city.
    • The week concluded with the industrial metal trading at Rs.40,600 per kg on the 11th with poor demand amid the weak trends overseas.

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

    • Poor dollar performances coupled with weakly performing equities resulted in silver price in Shimla rising considerably during the course of the week.
    • The week began with silver priced relatively higher at Rs.40,900 per kg on the 12th with the US dollar losing ground ahead of the US inflation data.
    • The next couple of days saw silver rate in Shimla rising after markets awaited the inflation data for clues on the pace of Fed rate hikes during the year. The white metal was recorded trading at Rs.41,300 per kg on the 13th before rising to Rs.41,400 per kg on the 14th amid the positive trends overseas.
    • Prices surged to Rs.41,800 per kg on the 15th before plunging to Rs.41,700 per kg on the 16th with the US dollar strengthening following the US inflation data.
    • With investors and traders gravitating on safe-haven assets to hedge against inflation concerns, demand for the metal surged. This led silver prices holding steady at Rs.41,700 per kg for the remainder of the week.

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

    • The fourth week commenced with the industrial metal priced at Rs.41,600 per kg on the 19th.
    • However, silver rate in Shimla plunged to Rs.41,200 per kg the next day after the US dollar strengthened against other emerging currencies.
    • Though rates remained untouched at Rs.41,200 per kg on the 21st amid the poor trends overseas, silver price in Shimla rebounded to Rs.41,400 per kg the next day with an increase in demand from local industries and coin manufacturers.
    • Prices surged further to Rs.41,600 per kg on the 23rd with the US dollar index and equities market losing in the international market.
    • The 24th saw rates declining slightly to Rs.41,500 per kg after domestic demand stabilised amid the firm trends overseas.
    • Thanks to steady demand from industries and coin makers, the rest of the week saw silver trading firm at Rs.41,500 per kg amid the positive trend overseas.

    February 2018 - Week 5 (26th - 28th):

    • When trading commenced for the last week, silver prices in Shimla were recorded holding at Rs.41,600 per kg on the 26th.
    • Silver rate in Shimla surging to Rs.41,700 per kg on the 27th as markets were shaky.
    • The month came to an end with the industrial metal trading at Rs.41,200 per kg on the 28th with silver trade in Shimla registered a loss of 3.28% during the course of the month.

    Trend of Silver Rate in Shimla 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
    Percentage Change 8.41%

    January 2018 - Week 1 (1 - 7):

    • Silver prices in Shimla witnessed a steady rise in prices this week due to an increased demand from local coin makers and industrial units.
    • Silver was priced at Rs.38,925 per kg, when the first month of 2018 opened for trading.
    • This price then rose to Rs.39,115 per kg on the 2nd as there was an increased demand for purchases.
    • On the 3rd, silver prices in Shimla fell very slightly to Rs.39,110 per kg, before going up marginally to Rs.39,115 per kg on the 4th.
    • Silver rates in Shimla rose on the 5th to hit Rs.39,265 per kg as demand was on the rise - a considerably strong rise compared to sub par performance of the previous few days.
    • This 6th and the 7th of January saw silver rates rise to Rs.39,355 per kg and hold on at this rate till the closing hours of the week.

    January 2018 - Week 2 (8 - 14):

    • Silver was recorded trading at Rs.39,265 per kg when the second week of January began on the 8th.
    • However, silver prices in Shimla dropped to Rs.39,110 per kg on the 9th after equity markets strengthened amid a strong dollar index, causing demand to drop.
    • Silver rates continued to hold at Rs.39,110 per kg levels over the next few days as demand from industrial units and coin manufacturers remained steady.
    • Silver rates in the nizam city surged to Rs.39,265 per kg before rising further to Rs.39,355 per kg on the 13th as the US dollar seemed to weaken amid growing concerns in the US.
    • Strong industrial demand coupled with a positive trend overseas led to silver rates continue at at Rs.39,355 per kg at the time of the week’s closing on the 14th of January.

    January 2018 - Week 3 (15 - 21):

    • The third week of January started strongly due to a sudden burst in demand but rates fell as the week progressed and demand took a hit.
    • SIlver was seen trading at Rs.39,680 per kg - a Rs.325 per kg incline - when trading commenced for the week.
    • As mentioned above, rates seemed to be on the decline for much of the week after a strong start.
    • Over the 16th and the 17th of January, silver rates held on at Rs.39,670 per kg as demand seemed to drop amid poor sales.
    • Prices took a hit again on the 18th and they went down to Rs.39,265 per kg as local investors backed out from purchases as the US dollar seemed to rally.
    • At the time of closing, on the 21st, the white metal was seen trading at Rs.39,265 per kg.

    January 2018 - Week 4 (22 - 28):

    • Due to a lack of clear stimulus silver rates saw little change over the fourth week of January - following the same trend as the previous week.
    • The week however, began strongly with the metal being priced at Rs.42,000 as markets opened for the week on the 22nd of January.
    • Silver continued to trade at Rs.42,000 per kg on the 23th as demand from local investors was steady.
    • Overnight trading positions towards the 25th of January pushed silver prices to surge to Rs.43,100 per kg.
    • Silver rates in Shimla held on at Rs.43,100 per kg as demand from all investor circles - i.e., coin makers, jewellers, and industries remained flat.

    January 2018 - Week 5 (29 - 31):

    • When trading began for the final week in January, silver was priced at Rs.42,700 per kg.
    • Silver prices fell to Rs.42,200 per kg on the 30th - the second day of this week as the US dollar remained strong, thanks to a firm equity market.
    • The 31st too saw silver rates continue at Rs.42,200 as the demand form the previous day continued to flourish.
    • Strong global cues and a strong local demand heralded a record-breaking change in prices for the month of January.
    • Silver price trends witnessed a massive 8.41% incline this month, owing to strong-than-ever sales.

    Trend of Silver Rate in Shimla 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 SRs.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
    Percentage Change 2.70%

    December 2017 - Week 1 (1st - 10th)

    • As the US dollar began December on a strong note, silver trading cues were on the weaker side for the first two weeks of this month.
    • When trading opened in Shimla for December, silver was seen trading at Rs.38,230 per kg.
    • Increased demand from local business led to a price increase and the metal sold at Rs.38,815 per kg on the 2nd day of the week.
    • Rates held on at Rs.38,815 per gram on the 3rd but fell to Rs.38,005 per kg the next day due to a slowdown in purchases.
    • As the global outlook remained weak, local sales were affected, leading to a slight decline on the 6th. The metal traded at Rs.Rs.37,965 per kg over the course of this day.
    • A rise in sales brought about by some increased demand pushed silver rates in Shimla up toRs.38,395 per kg on the 7th of December.
    • The last two days of December week 1, i.e., the 9th and the 10th saw silver rate in Shimla hold at Rs.36,715 per kg as demand was steady albeit at a rather weak point.

    December 2017 - Week 2 (11th - 17th)

    • There was a lot of fluctuations to be seen in silver rates this week, which was due to the rapidly changing market dynamic.
    • Over the first three days, silver rate in Shimla seemed to be on the decline as the US dollar index remained strong against others.
    • When trading for this week commenced, white metal was seen trading at Rs.36,920 per kg. This dropped down to Rs.36,620 per kg the next day as demand took a hit.
    • Prices fell on the 13th as well and the white metal recorded its lowest price for the month of Rs.36,545 per kg. Subsequent days proved that rates would improve gradually with demand seeming to bounce back.
    • Silver rate in Shimla began its first convincing surge for the month as it rose considerably to Rs.38,395 per kg on the 14th - a massive Rs.1,850 rise within a span of 24 hours.
    • On the 16th saw silver rates remain at Rs.36,920 per kg which then inclined to hit Rs.37,180 per kg on the last day of this week.

    December 2017 - Week 3 (18th - 24th)

    • Silver rates in Shimla fluctuated considerably during the third week of December as well as demand was hindered by a both global and local demand factors.
    • On the 18th, silver traded at Rs.38,395 per kg and recorded a Rs.1,215 rise compared to the previous day.
    • 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 (25th - 31st)

    • Silver rate in Shimla 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.
    • When the month ended, the white metal was priced at Rs.39,265 per kg.
    • Price trends increased by 2.70% due to steady local demand and a weak US economy.

    Trend of Silver Rate in Shimla for November 2017 (rates per kg)

    Parameters Silver price (per kg)
    Silver rate on 1st November 2017 Rs.39,530 per kg
    Silver rate on 30th November 2017 Rs.38,460 per kg
    Highest Rate in November 2017 Rs.40,520 on 18 and 19 November
    Lowest Rate in November 2017 Rs.39,355 per kg on 4 November
    Overall Monthly Performance Decline
    Percentage Change -2.70%

    November 2017 - Week 1 (1st - 5th)

    • Silver opened at Rs.39,530 per kg when the first week of November began.
    • As there was an increased demand from the local investors, silver price in Shimla went up to Rs.39,680 per kg on the 2nd.
    • Rates increased again on the 3rd for the metal to trade at Rs.39,950 per kg as traders stocked to meet the possible rise in demand.
    • However, there was a drop in Silver price in Shimla on the 4th for the metal to trade at Rs.39,355 per kg due to a slowdown in demand.
    • When the week ended, the white metal was still trading at Rs.39,355 per kg.

    November 2017 - Week 2 (6th - 12th)

    • An increase in overnight trading cues led to silver trading at Rs.39,365 per kg on the 6th of November.
    • On the 7th, silver price in Shimla surged to Rs.39,970 per kg as the US dollar plunged in its valuation, and the bullion industry took full advantage of it.
    • Prices went up again on the 8th, this time to trade at Rs.40,040 per kg on the 8th and continued at this rate till the closing hours of the 9th.
    • Demand dropped slightly as the US dollar made a recovery. The white metal traded at Rs.39,970 per kg on the 10th and remained unchanged for the remainder of the week.

    November 2017 - Week 3 (13th - 19th)

    • The third week of November saw silver rates increase initially as uncertainty around the middle east contributed to a rise in demand.
    • Silver opened at a relatively subdued price of Rs.39,870 per kg on the 13th of November before surging to Rs.40,040 per kg on the 14th.
    • Silver price in Shimla went up again on the 15th for the white metal to trade at Rs.40,240 per kg as a strained British economy weighed in on bullion sales.
    • The 16th saw silver rate in Shimla drop back down to Rs.40,040 per kg as demand was subdued after the previous day’s sales.
    • Silver rate in Shimla rose to Rs.40,520 per kg during the week as the deteriorating relationship between the UK and the European Union continued to weaken.
    • The week came to a close with the white metal still trading at Rs.40,520 per kg as demand from local circles in Shimla remained steady.

    November 2017 - Week 4 (20th - 26th)

    • When trade exchanges opened on the 20th, silver prices had dropped to Rs.39,780 per kg.
    • Prices continued at the same rate on the 21st before increasing to Rs.39,950 per kg on the 23rd as local demand improved briefly.
    • Silver rate in Shimla dropped to Rs.39,780 per kg on the 24th of the month and continued at the same rate till the end of the week.

    November 2017 - Week 5 (27th - 30th)

    • Silver prices in Shimla seemed to fall on all four days of this week.
    • When the week began on the 27th, the white metal was priced at Rs.39,780 per kg. This went down to Rs.39,530 per kg on the 28th of November as well.
    • The 29th again saw silver rates drop - this time to Rs.39,115 per kg as demand saw no signs of picking up.
    • On the final day of the week, silver rates had dropped to Rs.38,460 per kg
    • There was a 2.7% decline in silver rates in Shimla, which was brought about by a poor local demand and weak global cues.
    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
    Percentage Change -0.24%

    October 2017 - Week 1 (1st - 8th)

    • On the 1st of October, silver in Shimla was priced at Rs.39,530 per kg.
    • Rates dropped to Rs.39,265 per kg on the 3rd due to poor demand from industries and coin makers from the local circles.
    • A brief surge in demand was witnessed on the 4th, thanks to better marketing conditions for precious metals. This pushed silver rates in Shimla up to Rs.39,355 per kg.
    • However, the 5th saw silver price in Shimla drop to Rs.39,110 per gram, which also happened to be the month’s lowest rate, due to a poor market demand.
    • Towards the last two days of the week, silver rate in Shimla picked up. This was because of a slowdown in US markets, and the sudden increase in local demand.
    • Silver rates were seen holding at Rs.39,680 per kg, when the week came to end on the 8th of October.

    October 2017 - Week 2 (9th - 16th)

    • Silver opened at a much higher and a much improved rate of Rs.39,950 per kg, when the second week started.
    • Silver rate in Shimla saw an increase for most of this week, due to an increased demand from 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.
    • Prices 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)

    • On the 17th of October, the white metal was priced at Rs.40,285 per kg. Rates 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 price in Shimla decreased slightly to Rs.40,040 per kg on the 23rd as the demand was hit again by poor local trading cues.

    October 2017 - Week 4 (24th - 31st)

    • 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 rates fell to Rs.39,435 per kg on the 27th and then to Rs.39,115 per kg on the 28th as demand was still weak.
    • On the final day of the month, rates surged slightly to end at Rs.39,435 per kg, thereby recording a 0.24% fall in prices from the beginning of the month.
    Parameters Silver price (per 1 kg)
    Silver rate on 1st September 2017 Rs.40,390 per kg
    Silver rate on 30th September 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
    Percentage Change -2.12%

    September 2017 - Week 1 (1st-10th)

    • The first week of September opened with the industrial metal trading at Rs.40,390 per kg on the 1st.
    • Silver rates in Shimla remained unchanged over the next two days owing to steady demand from industries and coin makers.
    • Prices surged to Rs.41.075 per kg with the US dollar collapsing on the 4th of September.
    • Silver prices in Shimla rose further to Rs.41.495 per kg on the 6th as industrial units and coin manufacturers pushed silver purchases to boost their inventories.
    • However, an uncharacteristic decline in industrial demand resulted in prices falling to Rs.41,130 per kg on the 7th.
    • News about North Korea’s successful two-stage thermonuclear tests broke out. This resulted in investors inclining on safe-haven investments and the white metal prices rising to Rs.41,900 per kg on the 9th. This was also the highest recorded monthly figure in Shimla.
    • Silver price in Shimla remained the same at Rs.41,900 per kg on the 10th due to sustained safe-haven investments around the world.

    September 2017 - Week 2 (11th-17th)

    • Silver trade opened in Shimla with the metal trading at Rs.41,075 per kg on the 11th.
    • A decline in local demand led to silver rates in Shimla slightly dropping to Rs.41,030 per kg on the 12th.
    • The continued aggression between the US and North Korea pushed safe-haven investments higher and resulted in prices rising to Rs.41,075 per kg on the 13th.
    • Domestic demand declined as coin manufacturers and industries cut down purchases despite positive global trends. This led to silver trade falling to Rs.40,890 per kg on the 14th.
    • However, demand for the metal improved towards the end of the week as industrial units and coin makers began making steady purchases that proved to be favourable for the trade.
    • The week ended with silver trading the same at Rs.40,890 per kg on the 17th.

    September 2017 - Week 3 (18th-24th)

    • The white metal was recorded trading at Rs.40,440 per kg when the week began.
    • Strong dollar rates proved to be unfavourable for the silver trade globally which resulted in reduced demand for the metal. This led to prices sliding to Rs.39,680 per kg on the 19th.
    • The overseas relations between the US and North Korea worsened during the week and silver rates dropped to Rs.40,060 per kg on the 20th.
    • In addition, local demand for the metal declined and prices dropped further to Rs.39.670 per kg the following day.
    • Thanks to the low but steady demand from industries and coin manufacturers, silver continued trading at Rs.39,670 per kg for the rest of the week.

    September 2017 - Week 4 (25th-30th)

    • The final week opened with the industrial metal priced at Rs.39,670 per kg on the 25th.
    • On the 26th, silver trade rebounded with the arrival of Dussehra pushing the demand higher for the metal. The day ended with the metal trading at Rs.40,520 per kg.
    • The US economy recovered with the US dollar dominating over other apex currencies and silver rates dropped to Rs.39,780 per kg on the 27th.
    • Prices dropped further to Rs.39,530 per kg on the 28th due to reduced local demand coupled with uneven global trends.
    • The next couple of days witnessed prices remaining unchanged at Rs.39,530 per kg owing to steady demand from coin manufacturers 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
    Percentage Change 2.86%

    August 2017 - Week 1 (1st - 6th)

    • On the 1st of August, when the month started, silver was priced at Rs.38,925 per kg.
    • Silver rate in Shimla fell to Rs.38,455 per kg on the 2nd due to a lack of demand from various concerned parties, i.e., industrial units and coin makers hailing from the city.
    • Silver rates in Shimla slumped further to Rs.37,965 per kg on the 3rd as a result of demand still remaining weak.
    • The 4th saw prices increase to Rs.38,120 per kg as bullion demand surged all over the country and hence the city.
    • This sudden rise in prices was an anomaly, though. Rates fell by nearly Rs.900 to go down to Rs.37,235 per kg as demand fell again amidst weak global demand.
    • When the week came to an end, silver was still trading at Rs.37,235 per kg.

    August 2017 - Week 2 (7th - 13th)

    • The second week of August began on a glum note due to little change in demand.
    • On the 7th, the white metal was trading at Rs.37,295 per kg. Rates surged to Rs.38,345 per kg as industrial demand pushed purchases up and subsequently the prices.
    • Silver rate in Shimla fell back again on the 9th to reach Rs.37,965 per kg as the number of purchases went down.
    • The 10th saw Silver price in Shimla rise to Rs.38,925 per kg as a direct result of the rising tensions between the US and North Korea.
    • Silver prices went up on the 11th also, to Rs.39,530 per kg, as investors —coin makers and industrial units — decided to increase their inventory.
    • Over the 12th and the 13th, Silver rates in Shimla was seen holding at Rs.39,670 per kg as demand remained steady.

    August 2017 - Week 3 (14th - 20th)

    • Silver rates in Shimla fluctuated considerably towards the latter half of this week.
    • On the 14th of the month, silver was trading at Rs.39,670 per kg. This rate continued on to the 15th as well, thanks to sustained purchases from various quarters of the city.con
    • The 16th, however, saw prices drop to Rs.38,815, due to a weak trend overseas.
    • With investors ramping up their purchase, Silver rates in Shimla pushed back up to Rs.39,530 per kg on the 17th before falling again, to Rs.39,115 per kg.
    • As demand was stable, rates remained at Rs.39,115 per kg till the end of the week.

    August 2017 - Week 4 (21st - 27th)

    • The US dollar bounced back during the mid week which affected global as well as local silver sales.
    • On the 21st of August, silver was seen trading at Rs.39,115 per kg - the same price as seen at the closing hours of the 20th.
    • Prices went up to Rs.39,265 per kg on the 21st before remaining steady on the 22nd.
    • The 24th saw prices increase to Rs.39,355 per kg before dropping to Rs.38,995 per kg on the 25th as dollar rallied against other currencies.
    • Silver prices remained at Rs.38,995 per kg over the final two days of this week, owing to steady demand for the metal.

    August 2017 - Week 5 (28th - 31st)

    • The last week of August began with the metal trading at Rs.39,435 per kg.
    • Silver rate in Shimla went up to a monthly high figure of Rs.40,190 per kg on the 29th and the 30th as jewellers ramped up their purchases to meet retail demand.
    • When the month came to an end on the 31st, silver was seen trading at Rs.40,040 per kg.
    • Overall, silver price trends surged by 2.86% for this 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
    Percentage Change 0%

    July 2017 - Week 1 (1st to 9th)

    • Silver traded at Rs.38,640 per kg when the month of July began.
    • The demand for the white metal in Shimla remained weak due to weak trend overseas and poor industrial demand.
    • The highest silver price for the month of July in Shimla 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 Shimla.
    Parameters Silver price
    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
    Percentage Change -3.20%

    June ‘17- Week 1 (1st to 4th)

    • Demand for silver in the first week of June fluctuated due to minor vagaries in industrial demand, with the metal opening the month at Rs.40,285 per kg on 1 June.
    • Silver price in Shimla dipped to Rs.39,950 per kg on 2 June due to a decline in local demand as the rupee rose against the U.S. dollar, making imports more expensive.
    • Silver stabilised as the week progressed, trading at Rs.40,670 per kg on 3 & 4 June.

    June ‘17- Week 2 (5th to 11th)

    • Prices remained constant as demand was stable, with an increase in demand from coin makers keeping prices steady.
    • Silver traded at Rs.40,670 per kg on 5 & 6 June as U.S. markets were unstable due to ongoing geopolitical crises in the country.
    • The industrial metal rose to Rs.40,890 per kg on 7 June as markets and the U.S. dollar tumbled, leading to higher demand from overseas consumers and industrial units.
    • Prices regularised as demand plateaued, trading at Rs.40,285 per kg on 9 June as positive cues from the U.S. jobs data led to a rally by stock markets.
    • Demand dropped as the week ended, with silver trading at Rs.40,060 per kg on 10 & 11 June.

    June ‘17- Week 3 (12 to 18)

    • Silver price in Shimla fell further in the third week as investors stayed away from the metal following a recovery by the U.S. dollar and stock markets.
    • Demand was also muted as Asian industry awaited news on a possible rate hike, which led to fewer orders as silver prices fell to Rs.39,680 per kg on 12 June.
    • Local demand echoed trends seen globally as silver prices dropped to Rs.39,115 per kg on 14 June.
    • Sluggish demand from Europe and the rising crude oil deficit led to silver prices falling to Rs.38,460 per kg on 17 & 18 June.

    June ‘17- Week 4 (19th to 25th)

    • Gold rate rose marginally as the week began with silver trading at Rs.38,640 per kg on 19 June.
    • Demand was muted at the start of the week as silver plunged to Rs.38,455 per kg on 21 June following a sudden rally by the U.S. dollar.
    • Local demand boosted prices as local industry increased orders ahead of the GST implementation, resulting in silver trading at Rs.38,690 per kg on 23 June.
    • Prices continued to rise as war rhetoric with North Korea led to markets in the U.S. falling and silver rising to Rs.38,925 per kg on 24 & 25 June.

    June ‘17- Week 5 (26th to 30th)

    • Silver prices fluctuated as local demand was stable but overseas demand was volatile, with the metal trading at Rs.38,925 per kg on 26 June.
    • Silver rate in Shimla fell to Rs.38,455 per kg on 27 June as the announcement of the Fed Reserve meeting was met with rising stock prices and declining demand.
    • Industrial units had saturated orders for the month leading to muted growth in the metal’s demand, as silver traded at Rs.39,115 per kg on 28 & 29 June.
    • Local markets rose ahead of the introduction of GST, as silver prices fell to Rs.38,995 per kg on 30 June.
    Parameters Silver Price in Shimla
    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
    Overall Performance Incline
    Percentage Change 0.04%

    May ’17 – Week 1 (1st to 7th)

    • Silver prices in the first week of May were on the decline as demand fell due to rising U.S. dollar rates.
    • The week opened with silver priced at Rs.40,040 per kg but prices soon dropped to Rs.38,925 per kg on 3 May due to declining demand.
    • Industrial demand fell as markets were bullish and exports were costlier due to a high U.S. dollar, resulting in silver prices falling to Rs.37,965 per kg on 5 May.
    • Prices recovered as local demand pushed prices marginally higher to Rs.38,005 per kg on 6 May, with the price remaining constant as the week ended on 7 May.

    May ’17 – Week 2 (8th to 14th)

    • Shimla saw a drop in the price of silver in the second week as global demand dropped and local demand was muted.
    • Silver was priced at Rs.37,965 per kg on 8 May as demand fell following the victory of Euro-centric Emmanuel Macron in the French Presidential election.
    • As markets were bullish and global currencies were trading strongly, demand for silver fell sharply, as demonstrated by the metal trading at Rs.37,705 per kg on 10 & 11 May.
    • Prices recovered marginally to trade at Rs.37,865 per kg on 12 May before local demand pushed prices up to Rs.38,005 per kg on 14 May.

    May ’17 – Week 3 (15th to 21st)

    • Demand for silver rose as stock markets began to falter and currency markets fluctuated due to internal conflicts and geo-political tensions.
    • Silver traded at Rs.38,230 per kg on 15 May before rising to Rs.38,995 per kg on 17 May on steadily growing industrial demand.
    • Overseas demand also increased as the declining U.S. dollar made silver imports cheaper.
    • Minor fluctuations aside, silver prices rose throughout the week, trading at Rs.39,265 per kg on 18 May.
    • Local demand also boosted silver prices, though a slight drop in demand resulted in the week ending with silver trading at Rs.39,115 per kg on 21 May.

    May ’17 – Week 4 (22nd to 28th)

    • Burgeoning demand for the white metal led to silver opening the week at Rs.39,265 per kg on 22 May as coin makers increased orders due to favourable market conditions.
    • With the U.S. dollar still trading low against other global currencies, local demand for silver also increased, resulting in the metal selling at Rs.40,040 per kg on 23 May.
    • Fluctuations in demand led to silver prices falling to Rs.39,950 per kg on 25 May as demand from Asian markets reduced.
    • Prices recovered as the week ended, with silver trading at Rs.40,190 per kg on 27 May, with the price remaining constant on 28 May as well.

    May ’17 – Week 5 (29th to 31st)

    • Silver prices rose in the final week of May as economic data from the United States looked to be lower than anticipated, which led to stock market plunging and an increase in demand for safe-haven assets like silver.
    • The white metal traded at Rs.40,285 per kg on 29 May as local demand rose due to low U.S. dollar rates.
    • Silver reached its monthly high of Rs.40,520 per kg on 30 May as demand from overseas as well as higher demand from coin makers and local industrial units buoyed prices.
    • A sudden drop in price led to silver ending the month trading at Rs.40,060 per kg on 31 May.
    • Silver registered an overall increase in price of 0.04% over the course of the month.
    March 1st Rate Rs.43,970 per kg
    March 31st Rate Rs.42,115 per kg
    Highest Rate in March Rs.44,100 per kg on 2nd March
    Lowest Rate in March Rs.40,040 per kg on 15th March
    Overall Performance Decline
    Percentage Change 3.61%

    March ‘17 - Week 1 (1st to 5th)

    • Silver traded at Rs.43,970 per kg on the first day of March in Shimla.
    • Due to high demand and a weak U.S.Dollar, the silver rate in Shimla on the 2nd of March was Rs.44,100 per kg which was also the highest at which silver traded for the month of March in the city.
    • This demand however could not be sustained and silver traded at Rs.42,730 per kg on the 3rd of March.
    • Due to slightly low but sustained demand, silver traded at Rs.43,295 per kg on the last two days of the week.

    March ‘17 - Week 2 (6th to 12th)

    • The rate of silver in Shimla on the 6th of March was Rs.42,925 per kg which was one of the highest rates noted during the second week of March.
    • However, this price was not sustained and the rate of silver marginally reduced to trade at Rs.42,570 per kg on the 7th before falling even further the next day to trade at Rs.41,900 per kg on the 8th of March.
    • On the last two days of the week, due to steady demand, silver traded at Rs.40,520 per kg.

    March ’17- Week 3 (13th to 19th)

    • The price of silver in Shimla on the 13th of March was Rs.40,760 per kg which was marginally higher than the rates seen the previous week.
    • As the demand for this metal declined, silver rate in Shimla fell proportionately to trade at Rs.40,440 per kg on the 14th and reduced even further on the 15th to trade at Rs.40,040 per kg. This was the lowest at which silver traded for the month of March.
    • However, a recovery in prices resulted in silver trading at Rs.40,890 per kg.
    • On the last two days of the week, silver was priced at Rs.40,815 per kg due to low but sustained demand for this metal.

    March ’17- Week 4 (20th to 26th)

    • Silver traded at Rs.41,075 on the 20th of March.
    • The next day, the rate of silver declined to Rs.40,725 before rising again to trade at Rs.41,230 per kg on the 22nd of March.
    • As the week progressed, the rate of silver in Shimla continued to increase due to demand for this metal from overseas and positive market cues.
    • Price of silver on the 25th of March was the same as that noted on the 23rd of March which was Rs.41,340 per kg.
    • On the last two days of the week, due to sustained demand for this metal, silver was priced at Rs.42,115 per kg.

    March ’17 – Week 5 (27th to 31st)

    • Due to a rise in the demand for this metal, the rate of silver in Shimla shot up to trade at Rs.41,900 per gram on the first day of the final week of March.
    • This demand was sustained the next day as well and additionally, a marginal drop in the value of the U.S.Dollar resulted in this metal trading at Rs.42,115 per kg on the 28th and 29th of March.
    • As the week continued, the rate of silver continued to rise and traded at Rs.42,435 per kg on the 30th of March.
    • However, this demand was not sustained and the rate of silver fell to Rs.42,115 per kg again on the last day of March, recording a decline of 3.61% in the price of this metal.
    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
    Overall Performance Incline
    Percentage Change +3.86%

    February ‘17 - Week 1 (1st to 5th)

    • Due to a decline in demand from coin makers and industrialists in domestic markets, silver rates fluctuated at the beginning of the first week of February.
    • The price of silver was recorded at Rs.42,520 per kg on the 1st of February, after which they rose by Rs.120 to Rs.42,640 on the 2nd of the month.
    • A decline in demand saw prices fall as silver traded at Rs.42,115 per kg on the 3rd of February.
    • Rates increased slightly towards the end of the week, with silver trading at Rs.42,355 per kg on the 4th and 5th of February, thereby recording a fall of Rs.165 over the week.

    February ‘17 - Week 2 (6th to 12th)

    • On the 6th of February, silver traded at Rs.42,520 per kg, with the prices rising by Rs.410 to Rs.42,930 per kg on the 7th thanks to an increase in industrial demand.
    • Prices fluctuated over the course of the week, with silver trading at Rs.42,950 per kg on the 9th of the month, followed by a significant decline which saw rates tumble to Rs.42,375 per kg on the 10th of February.
    • An increase in domestic demand on the 11th led to a marginal increase in prices as the silver traded at Rs.42,570 per kg.
    • Prices gained stability on the last day of the week, and the metal closed the week at Rs.42,570 per kg.

    February ’17- Week 3 (13th to 19th)

    • An incline in the value of the U.S. Dollar resulted in muted demand for silver as the metal traded at Rs.43,280 per kg on 13th February.
    • Prices decreased by Rs.250 on the second day of the week to settle at Rs.43,030 per kg, after which consistent increases followed over the next three days owing to a sudden fall in the value of the U.S. Dollar.
    • Silver rates were recorded at Rs.43,115 on the 15th, Rs.43,385 on the 16th, and Rs.43,520 on the 17th.
    • An increase in local demand ensured that prices remained stable as silver traded at Rs.43,400 per kg on the 18th of the month.
    • The week ended with silver trading at Rs.43,400 per kg on the 19th of February, recording an increase of Rs.120 over the week.

    February ’17- Weeks 4 & 5 (20th to 28th)

    • Uncertainties in the market as well as instability in the value of the US Dollar saw prices fluctuate over the first few days of the last two weeks of the month.
    • Silver traded at Rs.43,270 on the 20th of February, after which prices increased slightly to Rs.43,285 on the 21st before declining by Rs.45 to Rs.43,240 on the 22nd of February.
    • A slight increase in demand from industrialists contributed to an increase in silver prices as the metal traded at Rs.43,295 on the 24th of the month.
    • Silver prices increased to Rs.43,910 per kg on the 25th of February before remaining stable on the 26th, and then increased further to Rs.44,110 per kg on the 27th of February.
    • Silver prices gained again on the final day of the month and the metal traded at Rs.44,165 per kg on the 28th, thus recording an overall increase of 3.86% over 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
    Overall Performance Incline
    Percentage Change +7.54%

    January ‘17 - Week 1 (1st to 7th)

    • The price of silver in Shimla reflected trends seen across the country, with a rise in price in the first week of January.
    • Silver traded at Rs.39,035 per kg on 1st January and rose to Rs.39,530 per kg on 3rd January on strong demand from the industrial sector.
    • A rise in demand from coin makers led to silver prices rising to Rs.40,670 per kg on 5th January, though prices dipped for the rest of the week due to fluctuations in demand.
    • Silver traded at Rs.40,435 per kg on 6th January and closed the week at Rs.40,390 per kg on 7th January, recording a weekly increase in price of Rs.1,355 per kg.

    January ‘17 - Week 2 (8th to 14th)

    • Prices of silver in Shimla continued to trade high, albeit with slight fluctuations in the second week of January, as silver traded at Rs.40,390 per kg on 8th January.
    • Prices rose as local demand rose on positive cues, resulting in silver trading at Rs.40,520 per kg on 9th January.
    • A low U.S. Dollar and poor stock trading led to silver demand rising, as prices rose to Rs.41,295 per kg on 11th January.
    • A dip in demand due to faltering domestic demand led to silver trading at Rs.41,030 per kg on 13th January.
    • Silver closed the week trading at Rs.41,230 per kg on 14th January, to record a weekly increase of Rs.840 per kg.

    January ’17- Week 3 (15th to 21st)

    • The third week of January saw marked fluctuations in the price of silver due to conflicting cues from the U.S. and Asian markets, which led to sharp dips in price.
    • Silver traded at Rs.41,230 per kg on 15th January, with the price rising to Rs.41,560 per kg on 16th January on heightened demand from the Asian industrial sector.
    • Prices rose to Rs.41,990 per kg on 18th January, but a drop in local demand and fluctuating demand from Asian markets led to prices falling to Rs.41,675 per kg on 20th January.
    • Silver prices rose as the week ended with to trade at Rs.41,930 per kg on 21st January as demand rose due to weak markets.

    January ’17- Weeks 4 & 5 (22nd to 31st)

    • Silver prices in Shimla in the last two weeks of January were more or less stable, though prices fell towards the end of the month due to a decline in demand.
    • Silver traded at Rs.41,930 per kg on 22nd January, with the price rising to Rs,42,180 per kg on 23rd January due to a sharp rise in demand from overseas.
    • Local demand helped keep prices stable as industrial demand fell, resulting in silver trading at Rs.41,83 per kg on 25th January.
    • A rally by the stock markets led to a reduction in demand for silver, as silver traded at Rs.41,075 per kg from 27th-29th January.
    • Prices recovered as the month ended, with silver trading at Rs.41,980 per kg to record an overall increase of 7.54%.

    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.

    Also Check Silver Price in NearBy Cities of Shimla

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    Silver Rate - Sitemap

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