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Silver Price in Srinagar
Silver is sold in many forms in Srinagar. For many investors in Srinagar, silver is viewed as a precious metal or asset with an increasing value over the long term. Many prefer buying investing in silver by way of incremental savings every month rather than in a lump sum form to avoid the negative effects of price fluctuations. Silver is viewed as a safe bet during times of high inflation.
Silver is extensively sold in Srinagar in the form of silverware, artefacts and traditional rituals including weddings. Silver or ‘poor man’s gold’ is sought-after by small investors in Srinagar given that the white metal is more affordable than the yellow metal.
Trend of Silver Rate in Srinagar for July 2017 (rates per kg)
|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|
Trend of Silver Rate in Srinagar for June 2017 (rates per kilogram)
|June 1 Rate||Rs.40,285 per kg|
|June 30 Rate||Rs.38,995 per kg|
|Highest Rate in June||Rs.40,890 per kg on 7 June|
|Lowest Rate in June||Rs.38,455 per kg on 21 and 27 June|
|Overall Monthly Performance||Decline|
June'17 - Week 1 (1st - 4th)
- When the month began, silver was priced at Rs.40,285 per kg - but as demand was on the descent - prices went down to Rs.39,950 per kg.
- On the 3rd, the metal’s prices were on the incline due to a sustained buying trend from various coin makers and industrial units in the city.
- The week came to an end on the 4th with silver trading at Rs.40,670 per kg.
June '17 - Week 2 (5th - 11th)
- The second week of June started with silver trading at Rs.40,670 per kg. As demand was steady, rates remained unchanged on the 6th as well.
- On the 7th, silver rates reached a monthly high figure of Rs.40,890 per kg because the US dollar fell as concerns rose over Donald Trump’s presidency.
- Besides the US dollar, other key events like the ECB meeting and the UK election led to various instances of safe haven buying.
- The 8th saw silver rate in Srinagar decline to Rs.40,725 per kg as the US job data released by the country’s labour department showed some unexpected positive signs.
- As this news kept investor sentiments on a low, silver prices declined for much of the week before ending at Rs.40,060 per gram on the 11th.
June'17 - Week 3 (12th - 18th)
- Buoyed by strong markets across the US and Asia, silver demand took a hit when the third week of June began.
- Despite trading at a relative low of Rs.39,680 per kg on the 12th, rates fell further to Rs.38,995 per kg by the 16th as a result of wary investors.
- The final two days of the week showed no signs of improvements as the metal’s rate went down to Rs.38,460 per gram.
June '17 - Week 4 (19th - 25th)
- On the 19th, when the fourth week began, silver was priced at Rs.38,640 per kg.
- This week saw silver record its lowest rate for the month as it went down to Rs.38,455 per kg on the 21st - as rates went reached near 9-month lows domestically.
- However, demand picked up slightly to end the week at Rs.38,925 per kg.
June'17 - Week 5 (26th - 30th)
- When the final week of June was underway, silver prices were recorded at Rs.38,925 per kg.
- Trading seemed to increase slightly towards the end of the month as investors were wary of the imminent introduction of GST and the negative impacts it could have.
- This led to silver trading at Rs.39,115 per kg on the 28th before continuing at the same rate for much of the 29th
- On the final day of the month, prices dropped to Rs.38,995 per kg as the frenzied buying of the previous two days came to a halt.
- Owing to some weak global cues and an even weaker domestic demand, silver rates in Srinagar declined by 3.20% this month.
Trend of Silver Rate in Srinagar for May 2017 (rates per kg)
|Parameters||Silver Price in Srinagar|
|May 1 Rate||Rs.40,040 per kg|
|May 31 Rate||Rs.40,060 per kg|
|Highest Rate in May||Rs.40,520 per kg on 30 May|
|Lowest Rate in May||Rs.37,705 per kg on 10 & 11 May|
May ’17- Week 1 (1st to 7th)
- The price of silver in Srinagar reflected trends seen in most Indian cities, with the price falling in the first week due to declining demand.
- Silver was priced at Rs.40,040 per kg on 1 May as prices remained unchanged from the previous month.
- As the week progressed prices dropped as the U.S. dollar strengthened on positive cues and markets rallied, pushing silver to Rs.38,925 per kg on 3 May.
- The price continued to dip as European markets were also bullish, resulting in silver trading at Rs.27,965 per kg on 5 May.
- The sharp decline in industrial demand kept silver prices low throughout the week but a slight recovery was seen as the week ended.
- Silver traded at Rs.38,005 per kg on 6 & 7 May.
May ’17- Week 2 (8th to 14th)
- Prices were low in the second week of May as markets were high following the victory of Emmanuel Macron in the French Presidential election.
- Silver traded at Rs.37,965 per kg on 8 May, with the price falling further over the course of the week.
- The U.S. dollar rate was another factor that led to lowered silver rates as export demand, especially from Asian markets was low.
- Prices dropped to their monthly low of Rs.37,705 per kg on 10 & 11 May due to consistently low demand from the industrial sector.
- A slight recovery was observed as the week ended, with silver trading at Rs.38,005 per kg on 14 May.
May ’17 – Week 3 (15th to 21st)
- Silver prices began to rise in the third week as the U.S. dollar weakened and international markets dropped due to various geo-political factors.
- The week began with silver trading at Rs.38,230 per kg on 15 May, rising to Rs.38,640 per kg on 16 May on strong overseas demand.
- Domestic demand from coin makers also increased as global currencies fell, making exports cheaper.
- Silver traded at Rs.39,265 per kg on 18 May as tensions with Russia led to U.S. markets falling steeply, increasing demand for bullion.
- Prices dipped marginally as the week ended, with silver trading at Rs.39,115 per kg on 21 May.
May ’17 – Week 4 (22nd to 28th)
- Silver prices continued to trade at a stable rate in the fourth week of May, opening the week at Rs.39,265 per kg on 22 May.
- As demand from investors increased due to continued market fluctuations, silver reached Rs.40,040 per kg on 23 May before prices fell marginally to Rs.39,670 per kg on 24 May.
- As GST rates for various services was released, markets were uncertain, which bolstered demand for bullion from local markets.
- Prices reached Rs.40,190 per kg on 27 May, with the price remaining unchanged as the week ended on 28 May.
May ’17 – Week 5 (29th to 31st)
- The last week of May saw the price of silver fluctuate due to demand vagaries and fluctuating U.S. dollar rates.
- Silver was priced at Rs.40,285 per kg on 29 May, rising slightly from the previous week due to an increase in industrial demand.
- Prices continued to rise as silver traded at a monthly high of Rs.40,520 per kg on 30 May due to higher demand from local industrial units and coin makers due to a poor U.S. dollar rate.
- The month ended with silver prices falling to Rs.40,060 per kg on 31 May due to an unexpected dip in demand.
- Silver prices rose over the course of the month by a miniscule 0.04%.
Trend of Silver Rate in Srinagar for April 2017 (rates per kg)
|April 1st Rate||Rs.42,570 per kg|
|April 30th Rate||Rs.40,040 per kg|
|Highest Rate in April||Rs.43,055 per kg on 15th & 16th April|
|Lowest Rate in April||Rs.40,040 per kg on 29th & 30th April|
April ’17- Week 1 (1st to 9th)
- The price of silver did not much fluctuate in opening week of April.
- While other factors remained constant, prices stood at Rs.42,570 per kg on 1st of April.
- Due to various US Federal Reserve developments, There was a fall of Rs.135 per kg on April 3rd.
- On 4th April, prices rose by Rs.295 due to industrial demand. As the precious metal made it through the week, prices reached their highest at Rs.42,775 on 5th April.
- Prices went down again in the course of the next few days due to market fluctuations.
- Prices remained the same on the last two days of the week at Rs.42,640.
April ’17 – Week 2 (10th to 16th)
- Prices did not stabilize in the second week of the month as well due to dollar rate fluctuations. The markets opened on 10th April at a cautious Rs.41,625 per kg, stabilizing over the next few days and then eventually hitting its highest spot in the month.
- The dip in price on 10th April is attributed to the strong US dollar rate that pushed the precious metal on a downward spiral even as geopolitical tensions sprang up.
- During the course of the week, prices rose due to ongoing global tensions involving the US, Russia and North Korea. This led to an increase in safe-haven buying.
- There was an increase by Rs.860 per kg on 12th April as prices stood at Rs.42,640 per kg from Rs.41,780 per kg as global tensions in Syria and North Korea prevailed, and demand increased.
- The price hit a high in the last two days of the week to Rs.43,055 per kg, the highest in the month.
April ’17 – Week 3 (17th to 23rd)
- Silver opened at the market at Rs.43,030 per kg on 17th April. Prices fluctuated up and down in the third week of April due to various developments such as the rising rupee and upcoming elections in France.
- As demand fell and the US dollar rate was recovering, prices fell by Rs.355 per kg on 18th April, standing at Rs.42,775 per kg. The following day, there was a further slump as prices came down to Rs.42,435 per kg.
- The price of silver stayed the same on the next day at Rs.42,775 per kg even as there was an appreciation in the rupee value. This continuous fall gave people the opportunity to buy the precious white metal.
- Trading on a cautious note, the week came to an end at Rs.41,980 per kg. The same price prevailed on 22nd and 23rd of April.
April ’17 – Week 4 (24th to 30th)
- Prices of silver continued to slump over the course of the last week of the month, eventually falling to its lowest point. On 24th April, the price of silver was Rs.41,625 per kg and on 30th of April, the last day of the month, the price was Rs.40,040. The week recorded a fall of Rs.1,585 per kg.
- This dwindling trend was due to global political developments including the winning of Emmanuel Macron in the presidential election in France. This affected stocks and led to safe-haven buying.
- April came to an end with a decline of 5.94% with the lowest days being April 29th and 30th at Rs.40,040.
|March 1st Rate||Rs.439.70 per 10 grams|
|March 31st Rate||Rs.421.15 per 10 grams|
|Highest Rate in March||Rs.441 per 10 grams on March 2nd|
|Lowest Rate in March||Rs.400.40 per 10 grams on March 15th|
March ‘17 - Week 1 (1st to 5th)
- Silver opened the trading for the month of March at Rs.439.70 per 10 grams.
- A healthy demand for the precious metal saw it climb to a month-high of Rs.441 per 10 grams on March 2nd.
- A strengthened US Dollar due to expected Federal Interest Rates hikes saw Silver slip to the week’s lowest price of Rs.427.30 per 10 grams on March 3rd.
- Lowered prices encouraged demand from industry, allowing Silver to stabilize at Rs.432.95 per 10 grams to end the week’s trading on March 5th.
March ‘17 - Week 2 (6th to 12th)
- Silver opened the second week of trading at Rs.429.25 per 10 grams.
- An expected US Federal Interest Rate hike saw Silver slip to Rs.414.35 per 10 grams on March 9th.
- A weak demand in the domestic market and a stronger US Dollar saw Silver slip further to its week’s lowest price at Rs.405.2 per 10 grams on March 11th and March 12th.
March ’17- Week 3 (13th to 19th)
- A marginal increase in industrial demand saw Silver open the third week of trading at Rs.407.6 per 10 grams.
- Changes in the US monetary policy saw Silver slip to a month low of Rs.400.4 per 10 grams on March 15th.
- Low prices lead to increase in demand for the precious metal causing Sliver to climb to Rs.408.90 per 10 grams on March 16th.
- Sustained demand saw Silver stabilize at Rs.408.15 per 10 grams to close the week’s trading.
March ’17- Weeks 4 (20th to 26th)
- Healthy demand saw Silver open the fourth week of trading at Rs.410.75 per 10 grams.
- A marginal decrease in demand due to the prevailing price of Silver saw it slip to Rs.407.25 per 10 grams on March 21st.
- On March 24th, Silver hit a week’s high of Rs.414.35 per 10 grams on March 24th.
- A drop in demand from coin makers saw Silver slip to Rs.413.40 to close the week’s trading.
March ’17- Weeks 5 (27th to 31st)
- Sustained positive demand for Silver saw it open the fifth week of trading at Rs.419 per 10 grams.
- Uncertainty associated with the US monetary policy saw Silver climb to a week-high of Rs.424.35 per 10 grams on March 30th.
- Prevailing Silver prices saw demand for the precious metal slump and Silver closed the month’s trading at Rs.421.15 per 10 grams on March 31st.
|February 1st Rate||Rs. 42,520 per kg|
|February 28th Rate||Rs. 44,165 per kg|
|Highest Rate in February||Rs. 44,165 per kg on 28th February|
|Lowest Rate in February||Rs. 42,115 per kg on 3rd February|
February 2017 - Week 1 (1st -4th):
- When trading began on 1st, silver was priced at Rs.42,520 per kg which later went up to to Rs.42,640 per kg as demand went up.
- As demand went down marginally on, prices also went down to hit Rs.42,115 per kg.
- Price on 3rd was also the lowest silver rate for the entire month, which suggested that better was yet to come this month.
- On the last day of week 4, prices increased slightly to reach Rs.42,355 per kg on 4th - a development which broke the rapid fall from the previous day.
February 2017 - Week 2 (5th - 11th):
- The second week of February started with silver trading at Rs.42,355 per kg and increased on 6th to Rs.42,520 per kg as demand went up in various sections of the industry.
- On 7th, prices went up again to Rs.42,930 per kg as demand held on but fell slightly on 9th to bring trading prices down to Rs.42,920 per kg.
- Though the first few days of week 2 saw good sales, rates went down on 9th as demand went down. This brought prices down to Rs.42,375 per kg.
- When week 2 ended on 11th, silver prices came back up to end the business day at Rs.42,570 per kg,
February 2017 - Week 3 (12th - 18th):
- Rates remained unchanged when the third week began as silver was still trading at Rs.42,570 per kg.
- Due to an increase in demand, however, prices went up this week prices went up to Rs.43,280 per kg, marking an increase of Rs.710 per kg.
- The 15th saw silver prices go up again to reach Rs.43,385 per kg and then increased by Rs. 135 to reach Rs.43,520 per kg on 16th.
- On the last day of week 3 silver prices took a hit to bring the rates down to Rs.43,400 per kg.
February 2017 - Week 4 (19th - 25th):
- Silver prices saw some fluctuations during the fourth week of February as demand seemed to waver.
- When the week began on 19th, silver was trading at Rs.43,400 per kg but went down by Rs. 130 to reach Rs.43,270 per kg on 20th.
- After a brief fall, prices went up to Rs.43,295 on 23rd and went up again on 24th to reach Rs.43,680 per kg.
- When week 4 ended, silver prices saw an increase of Rs.230 per kg bringing the trading price to Rs.43,910 per kg.
February 2017 - Week 5 (25th - 28th):
- The last four days of week 5 saw silver prices take an upward curve as prices increased on all the days.
- On 25th, silver was trading at Rs.43,910 per kg but increased to to Rs.44,110 per kg on 27th as demand went up.
- The last day of February saw silver trade at Rs.44,165 per kg, which also happened to he the highest silver rate for the entire month.
- Silver trends in Srinagar went up by 3.86% for the month of February.
|January 1st Rate||Rs.39,035 per kg|
|January 31st Rate||Rs.41,980 per kg|
|Highest Rate in January||Rs.42,180 per kg on 23rd January|
|Lowest Rate in January||Rs.39,035 per kg on 1st January|
January ‘17 - Week 1 (1st to 7th)
- An increase in industrial demand as well as favourable market conditions led to a rise in silver prices during the first week of January.
- Silver traded at Rs.39,035 per kg on 1st January, rising to Rs.39,530 per kg on 3rd January due to a steady rise in demand.
- A dip in the U.S. Dollar led to an increase in demand for silver, which pushed prices to Rs.40,670 per kg on 5th January.
- Prices dropped as demand fell marginally, resulting in silver trading at Rs.40,390 per kg on 7th January, recording a weekly increase of Rs.1,355 per kg.
January ‘17 - Week 2 (8th to 14th)
- The price of silver rose in the second week as demand continued to rise, with silver trading at Rs.49,390 per kg on 8th January.
- Local demand increased as markets were unstable over possible changes due to the continued effect of demonetisation on the market, which pushed silver prices to Rs.40,815 per kg on 10th January.
- Increased demand from coin makers led to silver prices rising to Rs.41,295 per kg on 11th January, but prices fell to Rs.41,030 per kg on 13th January.
- Silver prices rose marginally as the week ended, with silver trading at Rs.41,230 per kg on 14th January.
January ’17- Week 3 (15th to 21st)
- Silver demand was high in the third week, though there were some fluctuations observed.
- Silver traded at Rs.41,230 per kg on 15th January and rose to Rs.41,415 per kg on 17th January.
- Unstable markets and an increase in global demand for silver led to prices rising to Rs.41,990 per kg on 18th January.
- Prices dipped for the rest of the week as local demand fell, though industrial demand kept prices more or less stable.
- Silver traded at Rs.41,675 per kg on 20th January before rising to end the week at Rs.41,930 per kg on 21st January.
January ’17- Weeks 4 & 5 (22nd to 31st)
- Local demand fluctuations coupled with market volatility led to silver prices making slight gains over the last two weeks.
- Silver was priced at Rs.41,930 per kg on 22nd January, which rose to a monthly high of Rs.42,180 per kg on 23rd January.
- Prices fell due to a drop in demand from Asia in spite of high demand from overseas markets.
- Silver traded at Rs.41,835 per kg on 26th January before falling to Rs.41,075 per kg on 27th January on declining demand.
- Prices recovered as the week drew to a close, trading at Rs.42,010 per kg on 30th January.
- Prices dipped slightly as the month ended, trading at Rs.41,980 per kg on 31st January to record a 7.54% increase in price.
|December 1st Rate||Rs.40,450 per kg|
|December 31st Rate||Rs.39,035 per kg|
|Highest Rate in December||Rs.41,630 per kg on 8th December|
|Lowest Rate in December||Rs.38,460 per kg on 26th December|
December '16 - Week 1 (1st to 4th)
- The price of silver in Srinagar was Rs.40,450 per kg on 1st December, as demand was strong.
- Prices rose for the rest of the week as industrial demand was high on account of sluggish stock markets.
- Silver traded at Rs.40,795 per kg on 2nd December as local demand also rise due to the festive season.
- Silver was priced at Rs.41,070 per kg as the week ended on 4th December.
December '16 - Week 2 (5th to 11th)
- Demand for silver continued to increase in the second week of December as retail demand also increased.
- Silver was priced at Rs.41,055 per kg on 5th December as the U.S. Dollar fell against global currencies, which increased demand for bullion.
- Prices rose to Rs.41,630 per kg on 8th December, the highest rate for the month before falling as the week ended.
- Silver traded at Rs.41,345 per kg on 11th December.
December '16 - Week 3 (12th to 18th)
- Silver demand dropped as stock markets began to rise due to favourable market conditions.
- Silver traded at Rs.41,345 per kg on 12th December but prices fell as the week progressed due to reduced demand.
- The U.S. Dollar recovered and rose on speculation of a U.S. Fed rate hike, which led to silver demand falling.
- Silver prices fell to Rs.40,605 per kg on 15th December before dropping further to Rs.39,230 per kg on 16th December.
- Silver ended the week trading at Rs.39,305 per kg on 18th December.
December '16 – Week 4 (19th to 25th)
- Silver prices dipped during the week as stock markets rallied and global currencies also performed well.
- Silver was priced at Rs.39,435 per kg on 19th December but fell to Rs.38,815 per kg on 22nd December as local demand also dipped.
- International demand also fell as retailers recorded high sale volumes due to the festive season, which kept markets up.
- Silver fell to Rs.38,700 per kg on 23rd December, the lowest rate for the week.
- Prices rose marginally as the week ended, with silver trading at Rs.38,725 per kg on 25th December.
December '16 – Week 5 (26th to 31st)
- Silver prices rose as retail demand for silver increased.
- Silver traded at Rs.38,460 per kg on 26th December, with prices rising as the week progressed.
- The U.S. Dollar fell during the week, leading to demand for silver increasing.
- Local demand also rose as the currency shortage abated, which helped prices reach Rs.39,350 per kg on 28th December.
- Silver traded at Rs.39,035 per kg on 31st December, recording a loss of 3.49% in value.
|November 1st Rate||Rs.42,910 per kg|
|November 30th Rate||Rs.41,055 per kg|
|Highest Rate in November||Rs.44,960 on 9th November|
|Lowest Rate in November||Rs.40,190 per kg on 25th November|
November '16 - Week 1 (1st to 6th)
- The price of silver was high as the month began on account of increased demand from the retail and industrial sector.
- Silver was priced at Rs.42,910 per kg on 1st November, with demand rising as the U.S. Dollar continued to trade low due to uncertainty over the upcoming U.S. elections.
- Prices rose as the week continued, with silver trading at Rs.44,645 per kg on 4th November.
- The week ended with silver trading at Rs.44,180 per gram, registering an increase in price courtesy increased demand both domestically as well as internationally.
November '16 - Week 2 (7th to 13th)
- Silver prices continued to stay high, albeit with some fluctuations.
- The U.S. election results declaring Donald Trump the new President led to markets crashing and increasing demand for silver.
- Silver traded at Rs.43,685 per kg on 7th November and reached a monthly high of Rs.44,960 per kg on 9th November, following the announcement of the demonetisation of Rs.1,000 and Rs.500 notes.
- Prices settled as the week ended, with silver trading at Rs.42,005 per kg on 13th November.
November '16 - Week 3 (14th to 20th)
- The demand for silver dropped during the week due to a shortage of cash brought on by demonetisation.
- Silver demand from the retail sector fell as the government enacted strict legislation to monitor bullion purchases in the wake of demonetisation.
- Silver traded at Rs.41,760 per kg on 14th November, with the price continuing to fall throughout the week.
- Silver traded at Rs.40,735 per kg on 20th November.
November '16 - Week 4 and 5 (21st to 30th)
- Silver prices fell further as the month came to an end, with a strengthening U.S. Dollar contributing to a decline in international silver demand.
- Domestic demand was poor as investors stayed away from bullion following a market recovery.
- Silver traded at Rs.40,890 per kg on 21st November and rose to Rs.41,325 per kg on 22nd November.
- Prices fluctuated the rest of the week before closing at Rs.41,055 per kg on 30th November.
|1st Day||Rs.45,900 per kilogram|
|Last Day||Rs.43,035 per kilogram|
|Highest Price||Rs.45,900 per kilogram on 1st and 2nd October|
|Lowest Price||Rs.41,685 per kilogram on 7th October|
October 2016 – Week 1 and 2 (1st to 9th)
- The month started with silver trading high at Rs.45,900 per kilogram as demand for the metal was soaring.
- Trends in the market did not favour silver this week and demand took a hit.
- Silver rates fell through the week and settled at Rs.41,800 per kilogram on 8th and 9th October.
- Anticipation of the Fed rate hike continued to take its toll on the global market.
October 2016 – Week 3 (10th to 16th)
- The U.S. Federal Reserve was unsure about the interest rate hike as jobs data indicated the economy was not strong enough.
- On 10th October, silver recovered and traded at Rs.42,600 per kilogram.
- The spike in demand was short lived as industrialists and coin makers reduced their offtake.
- Silver traded at Rs.41,780 per kilogram by the end of the week.
October 2016 – Week 4 (17th to 23rd)
- Silver traded at Rs.41,970 per kilogram on 17th October.
- Rising expectations of the Fed rate hike kept silver prices low initially, but domestic market trends gave silver support.
- There was an increase in industrial offtake and the wedding season kicked off in the domestic market.
- Silver was able to recover and prices climbed to Rs.42,130 per kilogram by the end of the week.
October 2016 – Week 5 (24th to 31st)
- A weak dollar played in favour of silver and helped silver rates increase this week.
- On 24th October, silver traded at Rs.42,330 per kilogram.
- Though there were fluctuations witnessed through the week, there was an inclining trend in silver rates.
- Silver managed to touch Rs.43,035 per kilogram on 31st October, the highest price for this week.
- Though silver recovered on the back of increased demand this week, the trend for this month was a decline of 6.24%.
|1st Day||Rs.45,225 per kilogram|
|Last Day||Rs.45,750 per kilogram|
|Highest Price||Rs.47,820 per kilogram on 7th September|
|Lowest Price||Rs.45,225 per kilogram on 1st September|
September '16 - Week 1 (1st to 4th)
- On 1st September, the price of silver was Rs.45,225 per kilogram.
- Expectations of an interest rate hike by the U.S. Federal Reserve settled down as U.S. economic data was week.
- Silver prices climbed through the week as demand in the domestic market also surged.
- Silver traded at Rs.46,760 per kilogram on 4th September.
September '16 - Week 2 (5th to 11th)
- Silver traded at Rs.46,760 per kilogram on 5th September.
- Silver prices continued to rise this week as well as demand for the shiny metal was on the rise.
- Silver touched its highest price for this month on 7th September when it traded at Rs.47,820 per kilogram.
- Talk of a Fed rate hike sprouted again and investors were reluctant to purchase silver.
- By the end of the week, silver traded at Rs.46,835 per kilogram.
September '16 - Week 3 (12th to 18th)
- On 12th September, silver traded at Rs.45,715 per kilogram.
- Demand dropped on account of bearish sentiments in the global market.
- Despite weak economic data from the United States of America, the U.S. Federal Reserve intended to raise the interest rates soon.
- In the domestic market, savvy traders remained on the sidelines as the market was volatile.
- By the end of the week, silver rates dropped to Rs.45,370 per kilogram.
September '16 - Week 4 (19th to 25th)
- Silver traded at Rs.46,110 per kilogram on 19th September.
- With the U.S. presidential elections nearing, the U.S. Federal Reserve put the interest rate hike on hold till December.
- A bullish outlook took over the global market and demand for the metal increased.
- There was a slight drop in prices on 23rd September when silver traded at Rs.47,535 per kilogram.
- Rates remained unchanged for the rest of the week.
September '16 - Week 5 (26th to 30th)
- On 26th September, silver traded at Rs.46,950 per kilogram.
- An improving U.S. economy gave the dollar much support which led to a fall in silver prices.
- Support from the industrialists and coin makers was weak.
- The dollar was on the rise and had its impact on the global markets.
- Silver traded at Rs.45,750 per kilogram on 30th September.
- Silver prices increased by 1.16% this month.
|1st August||Rs.49,430 per kilogram|
|31st August||Rs. 45,460 per kilogram|
|Highest Price||Rs.49,670 per kilogram on 03rd August|
|Lowest Price||Rs.44,805 per kilogram on 29th August|
|Trend||Decline in silver prices|
August '16 – Weeks 1 (1st to 7th)
- Silver sold at Rs.49,430 on the first day of the week.
- Highest silver rate of the month was noted on 03rd August when silver was brought at Rs.49,670 per kilogram.
- Silver prices fell due to subdued demand from local jewellers and closed at Rs.47,255 per kilogram.
August '16 – Week 2 (8th to 14th)
- An increase of Rs.205 per kilogram was reported on the first day of the week.
- Silver prices continued to rise on 10th and 11th of August as demand from domestic market picked up. On these days, silver traded at Rs.48,595 per kilogram and Rs.48,330 per kilogram, respectively.
- Silver drifted to Rs.47,990 per kilogram on 12th August before settling at Rs.47,750 per kilogram on 13th and 14th of August.
August '16 – Week 3 (15th to 21st)
- Silver opened at Rs.47,750 per kilogram on 15th of August.
- Silver increased by Rs.190 per kilogram and hit Rs.47,940 per kilogram despite weak trend overseas.
- Silver prices decreased gradually due to lacklustre demand for gold in India from 17th of August.
- By the end of the week, silver was brought and sold at Rs.46,690 per kilogram.
August '16 – Week 4 (22nd to 28th)
- Silver managed to survive without any major fluctuations throughout the week.
- Silver prices stood at Rs.45,800 per kilogram on 22nd of August.
- Highest silver rate of the week was marked on 23rd August when silver was sold at Rs.45,935 per kilogram.
- Silver closed at Rs.45,040 per kilogram.
August '16 - Week 5 (29th to 31st)
- Lowest silver rate of the month is Rs.44,805 per kilogram which was recorded on 29th of August.
- Due to muted demand, Fed rate hike expectation and strong U.S employment data, silver prices continued to decline.
- Silver prices drifted to Rs.45,460 per kilogram at the end of the week.
|July 1st Rate||Rs.46,490 per 1 kg|
|July 31st Rate||Rs.48,970 per 1 kg|
|Highest Rate in July||Rs.49,745 per 1 kg on 11th of July|
|Lowest Rate in July||Rs.46,490 per 1 kg on July 1st|
July'16 - Week 1 and 2 (1st to 10th)
- Silver traded at Rs.46,490 per 1 kg on the 1st of July.
- Owing to heavy demand, silver hit the highest for the week at Rs.48,965 per kg on the 4th of July.
- Silver and hit Rs.49,265 per kg on the 7th of July.
- Silver closed the second week at Rs.49,745 per kg on the 10th of July.
July'16 - Week 3 (11th to 17th)
- Silver opened the at Rs.49,745 per kg the 11th of July.
- The price steadily climbed up to Rs.49,235 per kg on the 12th of July.
- Silver hit Rs.48,885 per kg on the 14th of July.
- Silver closed the month at Rs.48.840 per kg on the17th of July.
July '16 - Week 4 (18th to 24th)
- Silver traded at Rs.48,360 per kg on 18th of July.
- Silver hit Rs.48,185 per kg on the 20th of July.
- Prices came down to to Rs.46,665 per kg on the 21st of July.
- Silver price increased to Rs.47,880 per kg on the 22nd of July.
- The precious metal closed the week at 47,420 per kg on the 24th of July.
July‘16 - Week 5 (25th to 31st)
- Silver opened the week at Rs.47,160 per kg on the 25th of July.
- Silver traded at Rs.47,595 per kg on the 26th of July.
- The price of silver dropped down by Rs.220 on the 27th of July at Rs.47,375 per kg.
- Silver hit Rs.48,785 per kg on the 29th of July.
- Silver closed the month at Rs.48,970 per kg on the 31st of July.
|June 1st Rate||Rs. 38,640 per 1 kg|
|June 30th Rate||Rs. 44,635 per 1 kg|
|Highest Rate in June||Rs. 44,635 per 1 kg for 1 kg for 30th June|
|Lowest Rate in June||Rs. 44,635 per 1 kg on June 1st|
Jun'16 - Week 1 (1st to 4th)
- Silver traded at Rs. 38, 640 per 1 kg on the 1st of June.
- Silver price surged by Rs.225 per kg on the 3nd of June at Rs. 38,865 per kg.
- Silver traded at Rs.39,755 per kg on the 4th of June.
Jun'16 - Week 2 (5th to 11th)
- Silver traded at Rs. 39,755 per kg on the 5th of June as there was no change in the price from the previous week.
- The price of silver came down by Rs.65 from Rs. 39,755 per kg to Rs. 39,690 per kg on the 6th of June.
- Silver witnessed a further decline as prices dropped down to Rs. 39,585 per kg on the 8th of June.
- Prices steadily increased over the week and silver traded at Rs.41,510 per kg on the 11th of June.
Jun'16 - Week 3 (12th to 18th)
- Silver remained unchanged and traded at Rs.41,510 per kg on the 12th of June.
- Silver hit Rs.41,935 per kg on the 14th of June.
- Silver traded at Rs.42,958 per kg on the 16th of June.
- The price declined further over the week and silver hit Rs.42,235 on the 18th of June.
Jun'16 - Week 4 (19th to 25th)
- Silver traded at Rs.42,235 per kg on the 19th of June.
- Due to heavy demand in the global market,the price of silver rose to Rs.42,405 per kg on the 21st of June.
- The price of silver relatively increased over the week and hit Rs.43,465 per kg on the 24th of June.
- The price of silver remained unchanged on the 25th of June at Rs.43,465 per kg.
Jun'16 - Week 5 (26th to 30th)
- Silver traded at Rs.43,465 per kg on the 25th and 26th of June.
- The price further increased to Rs.43,980 per kg on the 29th of June.
- Silver closed the month at Rs.44,635 per kg on the 30th of June.
|1st May rate||Rs. 42,590|
|31st May rate||Rs. 39,065|
|Highest rate in May||Rs. 42,675 on 2nd May|
|Lowest rate in May||Rs. 38,795 on 30th of May|
May '16 - Weeks 1 and 2 (1st to 8th)
- The price of silver in Srinagar fluctuated during the first two weeks due to markets forces and a slowly appreciating Dollar.
- Silver was trading at Rs. 42,590 per kg on the 1st of May and traded at a monthly high of Rs. 42,675 per kg on the 2nd of May.
- The price fell over the rest of the week, trading at Rs. 41,565 per kg on the 4th of May, before rising on the next day to Rs. 41,835 per kg.
- The appreciating Dollar led to a drop in demand for silver.
- Silver traded at Rs. 41,875 per kg on the 8th of May.
May '16 -Week 3 (9th to 15th)
- Silver prices rose marginally before continuing to fall as demand slowed from industrial units domestically.
- Silver traded at Rs. 41,725 per kg on the 9th of May and fell to Rs. 40,890 per kg on the 10th of May, a drop of Rs. 835 per kg.
- The price rose as the week progressed as the volatile markets resulted in silver demand rising.
- Silver prices still fell overall, trading at Rs. 41,255 per kg on the 15th of May.
May '16 - Week 4 (16th to 22nd)
- The fourth week of May saw silver prices in Srinagar fall further, due to strong data emerging from the U.S. manufacturing industry as well as a strengthening Dollar.
- Silver traded at Rs. 41,255 per kg on the 16th of May, remaining unchanged from the previous week.
- Prices rose slightly mid-week as the Dollar began to lose ground, with silver trading at Rs. 41,545 per kg on the 17th of May.
- Prices dropped as the markets recovered, with silver trading at Rs. 40,135 per kg on the 22nd of May.
May '16 - Weeks 5 and 6 (23rd to 31st)
- Silver prices plummeted as stock markets rallied on news of a possible interest rate hike in June, with the Dollar also making significant gains.
- Silver traded at Rs. 40,060 per kg on the 23rd of May, with the price falling the following day to Rs. 39,695 per kg and to Rs. 39,255 on the 27th of May.
- The price dipped to a monthly low of Rs. 38,795 per kg on the 30th of May as speculation of positive data from the U.S. job market lead the Dollar to make gains.
- Asian stock markets also rose, leading to a reduction of demand and prices dropping, with silver trading at Rs. 39,065 per kg on the 31st of May.
|April 1st Rate||Rs.36,780|
|April 30th Rate||Rs.42,590|
|Highest Rate in April||Rs.42,690 on the 29th of April|
|Lowest Rate in April||Rs.36,000 on the 4th of April|
|Overall Performance||Gain / Positive|
Apr'16 - Weeks 1 & 2 (1st to 10th)
- Silver rates declined during the first two days of the month but increased steadily for the next few days before gaining stability on the 8th of the month.
- Prices were recorded at Rs.36,780 on the first day of the month and Rs.36,620 on the tenth.
- Prices started to rise on the fifth day of trading as both domestic as well as international trends began strengthening amidst an increase in industrial demand.
Apr ‘16 - Week 3 (11th to 17th)
- Silver rates increased steadily during the third week of the month.
- Prices were recorded at Rs.37,115 on the 11th of April and Rs.39,110 on the 17th.
- Prices increased by almost Rs.2000 during the course of the week as there were no domestic or international events to affect the rise in rates.
Apr ‘16 - Week 4 (18th to 24th)
- Silver rates increased consistently over the course of the week except for marginal losses on the second and fourth day of trading.
- Prices were recorded at Rs.38,920 on the first day of the month and Rs.41,115 on the last.
- The week with the highest increase in rates during April was the penultimate week which recorded a jump in prices by almost Rs.2200 over the seven days.
Apr ‘16 - Week 5 (25th to 30th)
- Silver prices continued their incline over the last week of April barring slight declines on the fourth and last day of trading.
- Prices were recorded at Rs.40,810 on the first day of the last week and Rs.42,590 on the last day of the month.
|1st March rate||Rs.37,005|
|31st March rate||Rs.36,495|
|Highest rate in March||Rs.38,640 on 18th|
|Lowest rate in March||Rs.36,455 on 29th|
Mar'16 - Week 1 (1st to 6th)
- Silver rates declined in Srinagar during first week of trading in March.
- Prices were Rs.37,005 on 1st and Rs.36,640 on 6th.
- Silver experienced ups and downs in the first three days after which prices stabilized.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Silver gained a marginal amount of Rs.15 in this week.
- Rates were Rs.37,695 on 7th and Rs.37,710 on 13th.
- Silver appreciated to Rs.37,710 on 8th itself and was stable for the rest of the days.
Mar'16 - Week 3 (14th to 20th)
- Silver traded in the green over the third week also.
- Rates were Rs.37,650 on 14th and Rs.37,865 on 20th.
- Silver experienced large fluctuation in this week, touching a high of Rs.38,640 on 18th and a low of Rs.37,140 on 16th and 17th.
Mar'16 - Week 4 (21st to 27th)
- Silver dropped in the fourth week.
- Rates were Rs.37,930 on 21st and Rs.36,685 on 27th.
- Silver appreciated only on 22nd post which prices declined for the rest of the week.
Mar'16 - Week 5 (28th to 31st)
- Silver lost more value in last week’s trading.
- Prices were Rs.36,570 on 28th and Rs.36,495 on 31st.
Silver as an investment
Silver as a precious metal has a store of value. Silver also known as ‘poor man’s gold’ is sought-after by small investors given that unlike the yellow metal, which entails investment running into thousands, a small denominations of silver coins can be bought for a few hundred rupees. Many consumers turn to conventional or traditional investments such as silver coins or during periods of economic instability.
Physical silver: Buying physical silver is, by and large, the more preferred mode of investing in Srinagar. People in Srinagar buy silver bars (100g, 500g or 1kg) and coins. Various items of jewellery from necklaces and bajubandh to rings and bracelets are sold. Handcrafted intricate jewellery with traditional designs by expert craftsmen are also much in demand.
Silver contracts: Silver is traded in Multi Commodity Exchange (MCX), National Multi Commodity Exchange (NMCE) and National Commodity & Derivatives Exchange (NCDEX). Silver micro is traded in 1 kg (unit) and SILVER 1000 in units of 5 kg.
Silver rate in Srinagar
Silver rate in Srinagar depends on various national and international factors. 1 kg of silver was pegged at Rs.39985 in the month of January. The price of the white precious metal decreased by -6.0% to Rs.37555 in February. The downward slide continued in the months of March and April as well with the white precious metal pegged at Rs.37471 and Rs.37388 respectively. The months of May witnessed a minor rise in the price of silver by 6% to Rs.39701. Silver rates in Srinagar, however, plummeted in the latter part of 2015, barring a mini rally in the month of August. 1 kg of silver which was pegged at Rs.36028 in September decreased by -1.1% to Rs.35626 in October. The price of silver hovered around Rs.34500 in November but decreased by 0.4% to Rs.34360 in December.
Also Check Silver Price in NearBy Cities of Srinagar
|Silver Rate in Delhi||Silver Rate in Chandigarh||Silver Rate in Ludhiana|
|Also Know: Gold Rate in Srinagar|
Read more on Silver
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