• Silver Rate in Srinagar

    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 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 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 Srinagar 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):

    • The price of silver in Srinagar for the month of August 2018 commenced at Rs.41,400 per kg. This was the highest that silver stood at for the month in the city.
    • On 2 August, the demand for the metal amongst local jewellers and coin makers declined, thereby reducing the price of silver. During this time, the metal fell in value by Rs.300 per kg, and was trading at Rs.41,100 per kg.
    • The price of the metal then stabilised for the coming few days, and on 4 August, it rose by Rs.200 per kg. Meanwhile, the demand for silver picked up on 4 August.
    • At the end of week 1, on 5 August, silver price in Srinagar was recorded at Rs.41,300 per kg.

    August 2018 - Week 2 (6 - 12):

    • Industrial offtake of the metal, at the start of the second week of August, declined, causing silver rates in the city to plummet.
    • Silver was recorded to trade at Rs.41,300 per kg at the start of week 2, on 6 August.
    • On 7 August, the US economy strengthened, and positive global cues were recorded as well. This caused the price of silver to drop to Rs.41,200 per kg.
    • A few days later, on 9 August, a significant hike on silver prices was recorded. The metal traded at Rs.41,400 per kg, which was the highest price that silver stood at in Srinagar for the month. This hike can be associated with the dip in dollar value and also the increase in demand for the metal from local industries.
    • Demand for the metal dropped right after it showed a positive trend a few days ago, causing the price of silver to dip significantly yet again. As demand dropped, the metal was priced Rs.41,100 per kg on 10 August. The pricing of silver for the entire week was highly influenced by the variation in demand from local industries.
    • During the end of week 2, the metal enjoyed a small hike in its price as it traded at Rs.41,200 per kg. This was the price silver stood at in Srinagar at the end of the week.

    August 2018 - Week 3 (13 - 19):

    • Week 3 commenced with silver prices standing at Rs.41,200 per kg as on 13 August.
    • However, on 14 August, the metal dropped a few points to Rs.40,900. This may have been the effect of deteriorated demand from industries locally.
    • Meanwhile, the US released their employment data during the course of week 3 which had a positive effect on its economy. This caused the dollar to gain value but devalued the price of the metal in the process
    • Although silver prices in Srinagar managed to hold ground for a day when it rose to Rs.41,100 per kg on 15 August, it swiftly plummeted to Rs.39,900 per kg as on 16 August. Apart from the dollar being valued higher, the decline of silver price in Srinagar can also be associated with weak domestic demand and weak overseas trends.
    • At the end of the month, on 17 - 19 August, the metal rose slightly to Rs.40,000 per kg, a Rs.100 increment. This was the price that the month ended with, too.

    August 2018 - Week 4 (20 - 26):

    • The price of the metal at the end of week 3 carried onto week 4. The price of silver in Srinagar remained stable at Rs.40,000 per kg.
    • The stability lasted only a day, however, as prices rose Rs.100 per kg and was recorded to trade at Rs.40,100 on 22 August.
    • Meanwhile, the US dollar rose in value in comparison to other currencies on 23 August, causing the price of silver to decline. The price of silver then stood at Rs.39,900.
    • Local demand for the metal also feel in subsequent days, causing the price of silver in Srinagar to hit its lowest point of the month. On 24 August, the metal was priced at Rs.39,800 per kg.
    • The metal then picked up over the last few days of the month as it was priced at Rs.40,200 per kg on 26 August.

    August 2018 - Week 5 (27 - 31):

    • The price of silver in the city remained at Rs.40,200 per kg rolling into week 5 as demand for the same was steady, too.
    • While demand picked up further, silver enjoyed a hike in value, and was priced at Rs.40,400 per kg as on 28 August.
    • However, during the end of week 5 and the month of August, the dollar began to rise, causing a decline in the value of the metal. The month ended with silver in Srinagar being priced at Rs.40,300 per kg.

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

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

    July 2018- Week 1 (1-10)

    • The price of silver in Srinagar stood at Rs.42,800 per kg on 1 July 2018.
    • Silver prices in the city then slightly dipped on 3 July and stood at Rs.42,400 per kg. The fall in prices can be associated with the drop in demand in industrial units.
    • However, the price of the metal in the city then rose to Rs.42,800 per kg and remained stable for the next few days. The variation in local industrial offtake could have been the cause of the increment in silver prices.
    • At the end of week 1 in July, on 9 - 10 July, the highest silver rate for the month of July in Srinagar was recorded when the metal was sold at Rs.42,900 per kg. This could be because of positive market trends clubbed with declining dollar rates over other currencies.

    July 2018- Week 2 (11-17)

    • The decline in demand for silver in Srinagar caused the price of the metal to fall as well. The price of the white metal during this time stood at Rs.42,600 per kg. Compared to the previous year, silver prices dipped continuously during week 2.
    • However, silver prices from 12 - 14 July stood at roughly Rs.42,200 per kg. Industrial demand for the metal dipped further which in turn decreased the silver price.
    • The silver rate in Srinagar on 16 July rose at Rs.42,300 per kg as the demand from local coin makers and industrial units picked up.
    • The price then increased towards the end of the week and stood at Rs.42,100 per kg on 17 July.

    July 2018- Week 3 (18 - 24)

    • On 18 July silver prices stood at Rs.41,700 per kg. Compared to the previous week, the silver rates during this week dipped continuously. This can be associated with decreased industrial demand for silver during the same time.
    • As the value of the dollar rose in comparison with other currencies on 20 July, silver prices fell Rs.41,300 per kg on 20 July in Srinagar.
    • Demand for the metal increased in the following few days which led to the increment in the silver rate. The price of silver from 21 - 22 July stood at Rs.41,700 per kg.
    • The price of the metal declined towards the end of the week and stood at Rs.41,400 per kg on 24 July.

    July 2018- Week 4 (25 - 31)

    • Silver traded at Rs.41,500 per kg on 25 July.
    • Due to the decline of dollar value, silver prices spiked on 26 July to Rs.41,800 per kg. However, demand for the metal dropped which naturally caused the decline in silver prices over the next few days.
    • As on 28 - 29 July, the price of silver stood at Rs.41,200 per kg. This is the lowest silver price recorded in Srinagar for the month of July.
    • As the dollar rate fell, silver prices increased marginally and stood at Rs.41,400 per kg on 30 - 31 July.
    • Overall, silver prices fell by 3.27% in the month of July in Srinagar.

    Trend of Silver Rate in Srinagar 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- 5 June
    Overall Monthly Performance Stable
    Percentage Change 0.00%

    June 2018 - Week 1 (1 - 10):

    • The month began in Srinagar with silver rates holding at Rs.42,800 per kg on the 1st with domestic demand capped by the rising dollar and equities.
    • The 2nd witnessed silver prices plummeting to 42,600 per kg - the lowest monthly figure - as investor demand declined amid the well-performing US dollar and equities market.
    • Subdued domestic demand compounded with weak global cues led to silver trading at Rs.42,600 per kg until the 5th.
    • The 6th, however, saw rates rebounding to Rs.43,900 per kg - an increase of Rs.1,300 per kg - on account of market speculations ahead of the G7 summit.
    • A decline in domestic industrial offtake over the next couple of days led to silver being priced at Rs.43,800 per kg and Rs.43,600 per kg on the 7th and the 8th respectively.
    • Rates rebounded to Rs.43,700 per kg on the 9th as the US dollar index weakened after the US president blamed other heads of the G7 participating nations for wrong trade practices.
    • Trading closed for the week with the industrial metal priced at Rs.43,700 per kg on the 10th with steady local demand amid the firm trend overseas.

    June 2018 - Week 2 (11 - 17):

    • The second week began with prices surging by Rs.200 at Rs.43,900 per kg on the 11th with traders and investors banking on the bullion market amid the positive market trends overseas.
    • Rates rose to Rs.44,000 per kg the next day but dropped to Rs.43,900 per kg on the 13th as the US dollar recovered slightly following the US-North Korean summit.
    • However, the greenback lost significant ground over the next two days as the US dollar index weakened after the US Federal Reserve announced its decision to leave its interest rates unaltered in the monetary policy meeting.
    • Strong investor demand coupled with favourable market cues led to silver prices in Srinagar rising to Rs.44,300 per kg on the 14th before surging further to a monthly high of Rs.45,000 per kg on the 15th amid the positive trend overseas.
    • Trading concluded for the week with the white metal trading at Rs.44,300 per kg on the 17th with subdued but steady demand from local industries, jewellers and retailers.

    June 2018 - Week 3 (18 - 24):

    • The week opened with silver prices holding at Rs.43,400 per kg on the 18th after a strong recovery by the US greenback amid the well-performing equities led to rates dropping by Rs.900 from the previous session’s figure.
    • Rates rose marginally to Rs.43,500 per kg on the 19th before declining to Rs.43,100 per kg on the 20th with investor demand suppressed by poor trend overseas.
    • The 21st saw silver prices dropping further to Rs.42,900 per kg due to poor demand from industrial units and coin makers amid the weak global cues.
    • The week ended with silver rates holding at Rs.42,900 per kg on the 24th with subdued local demand amid the strong US dollar and well-performing stock markets.

    June 2018 - Week 5 (25 - 30):

    • The last week began with silver trading at Rs.43,200 per kg on the 25th following an increase in domestic investor demand brought about by positive overseas trends.
    • However, with the US dollar index gaining against a basket of other major emerging currencies, the greenback strengthened. This led to a decline in domestic demand over the next couple of days.
    • On the 28th, the industrial metal was recorded trading at Rs.43,000 per kg with poor local demand amid the weak market trends overseas.
    • Rates dropped further to Rs.42,800 per kg the following day with investor demand capped by the strong US dollar and equities.
    • Trading closed for the month with the silver rates in Srinagar holding at Rs.42,800 per kg on the 30th with subdued but steady demand local coin manufacturers and industrial units amid weak international trends.

    Trend of Silver Rate in Srinagar 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 Srinagar, 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 Srinagar 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 (1th - 7th):

    • The white metal opened at Rs.41,400 per kg on 1 April in Srinagar.
    • On 2 April, silver rate in Srinagar dropped to Rs.41,300 per kg due to poor dollar performances coupled with losing equities led to silver prices rebounding to Rs.41,600 per kg on the 3rd.
    • Due to the lack of demand for silver from industries, on the 4th silver rates fell to Rs.41,300 per kg.
    • Silver price in Srinagar further dropped to Rs.41,000 per kg on the 5th due to poor overseas trend. This was also the lowest recorded monthly figure in Srinagar .
    • However, with the US dollar index losing against a basket of other emerging currencies, the greenback weakened. This led to silver prices holding steady at Rs.41,200 per kg for the remainder of the week.

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

    • Silver opened at Rs.41,200 per kg on the second week of April and performed well as demand from industrial units and coin makers were steady.
    • The 10th saw silver rate in Srinagar rising to Rs.41,300 per kg before surging to Rs.41,700 per kg on the 11th following an increase in demand brought about by an increased industrial offtake for the metal.
    • Strong domestic demand coupled with positive market trends led to silver price in Srinagar  surging to Rs.42,000 per kg on the 12th.
    • However, an increase in the US dollar value after the dollar index rose against a basket of other emerging currencies led to rates dropping to Rs.41,600 per kg on the 13th.
    • The next couple of days saw silver being priced at Rs.41,900 per kg as the US-led airstrike on Syria led to an incline in safe-haven demand around the world.

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

    • On 16th Rs.42,100 per kg on the 16th with strong global cues pushing demand higher for the metal.
    • The next couple of days saw silver rate in Srinagar rising with tensions rising in the Korean Peninsula, pushing demand higher for the metal.
    • On the 19th, the industrial metal was recorded trading at Rs.43,700 per kg amid the firm trend overseas.
    • With the US dollar losing against other apex currencies, silver price in Srinagar  recorded highest monthly figure of Rs.43,800 per kg on the 20th.
    • Thanks to strong demand from industries and coin manufacturers, rates remained unaltered at Rs.43,800 per kg for the remainder of the week.

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

    • The week began with silver priced relatively lower at Rs.43,700 per kg on the 23rd before plunging to Rs.43,000 per kg on the 24th as the US dollar regained lost ground amid the well-performing equity markets.
    • Poor trends overseas coupled with declining industrial demand led to silver rates dropping over the next few days.
    • Silver was recorded trading at Rs.43,100 per kg on the 25th before plunging to Rs.43,000 per kg on the 26th amid the recovering US dollar.
    • The next two days saw silver rates holding at Rs.42,800 per kg on account of subdued industrial demand amid poor global cues.
    • The month ended with the white metal trading at Rs.42,300 per kg on the 30th and silver rate in Srinagar  recorded an increase of 2.17% during the course of the month.

    Trend of Silver Rate in Srinagar 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):

    • Trading commenced in Srinagar with silver prices holding at Rs.41,100 per kg on the 1st of March with demand capitalising on the weakened dollar and equities.
    • Silver rate in Srinagar rose to Rs.41,400 per kg on the 2nd as the dollar lost against other apex currencies amid an unevenly performing equities market.
    • The 3rd witnessed silver rates rising further to Rs.41,600 per kg and continued trading at the same price with steady demand from local industries and coin manufacturers for the rest of the week.

    March 2018 – Week 2 (5 – 11):

    • The week opened with the industrial metal trading at Rs.41,600 per kg on the 5th on firm global cues.
    • Though silver price in Srinagar plunged to Rs.41,400 per kg the next day with a slight decline in demand, a drop in the dollar value after equities tumbled in the international market led to silver rates recounding to Rs.41,900 per kg on the 7th.
    • However, with the greenback recovering from the initial shock, demand for the metal dropped. This led to silver rate in Srinagar plummeting to Rs.41,500 per kg on the 8th.
    • The strengthening US dollar coupled with firmer equities led to a gradual decline in prices over the next day. Silver was recorded trading at Rs.41,300 per kg on the 9th amid the poor trends overseas.
    • Demand, however, seemed to pick up the next couple of days with investors and stockists gravitating towards safe-haven assets amid uncertainties in equity markets and the white metal was recorded trading at Rs.41,600 per kg on the 11th.

    March 2018 – Week 3 (12 – 18):

    • The week opened with the industrial metal trading at Rs.41,600 per kg on the 12th with the bullion holding on to its gains from the previous session.
    • Silver rate in Srinagar plunged to Rs.41,400 per kg  on 13th after the release of the stronger than expected US payrolls’ data.
    • Prices rebounded to Rs.41,700 per kg on the 14th following Rex Tillerson’s sudden dismissal as the US Secretary of State.
    • However, with traders and investors speculating over a possible interest rate hike next week, the dollar value rose. This led to silver being priced at Rs.41,500 per kg on the 15th.
    • The strengthening dollar coupled with declining demand for the metal led to silver price in Srinagar plunging to Rs.41,300 per kg and Rs.41,100 pe kg on the 16th and the 17th respectively.
    • When the week came to an end, the industrial metal prices were recorded holding at Rs.41,100 per kg on the 18th with subdued demand by industrial units and coin makers amid weak global cues.

    March 2018 – Week 4 (19 – 25):

    • The fourth week began with silver trading at Rs.41,000 per kg on the 19th with the greenback holding on its previous rally of gains in the international market.
    • The 20th saw silver rate in Srinagar rebounding to Rs.41,200 per kg with demand improving after the domestic bullion tracked a positive market trend overseas.
    • Demand was unable to keep up against the strong dollar and prices dropped to Rs.41,000 per kg on the 21st.
    • Silver price in Srinagar surged further to Rs.41,600 per kg on the 23rd after demand rose with overseas markets bracing for a possible US interest rate hike by the Federal Reserve during the month.
    • Silver was priced at Rs.41,600 per kg on the 25th with steady demand from industrial units and coin makers amid the positive overseas trends.

    March 2018 – Week 5 (26 – 31):

    • The final week saw silver rate in Srinagar open at Rs.41,600 per gram on the 26th.
    • Demand for safe-haven assets such as gold and silver surged significantly after the US-Russian tensions strengthened, leading to silver prices rising to Rs.41,800 per kg on the 27th.
    • However, with the US greenback recovering from the initial loss, demand for the metal declined. This led to silver being priced at Rs.41,500 per kg and Rs.41,400 per kg on the 28th and the 29th respectively.
    • The month ended with the industrial metal trading firm at Rs.41,400 per kg on the 31st with steady demand from local industrial units and coin makers despite the poor trends overseas.
    • Silver price in Srinagar rose by 0.72% due to the positive global market cues that pushed demand higher during the course of the month.

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

    Parameters Silver price (per kg)
    Silver Rate on 1st February 2018 Rs.42,600 per kg
    Silver Rate on 28th February 2018 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 (1 - 4):

    • When silver trading began in Srinagar, the metal prices were recorded holding at Rs.42,600 per kg - the highest recorded monthly figure - on the 1st amid strong global trends and domestic demand for the metal.
    • Silver price in Srinagar remained unchanged at Rs.42,600 per kg on the 2nd with steady demand from coin manufacturers and industries.
    • However, silver rates in Srinagar plunged to Rs.41,700 per kg on the 3rd as the US dollar strengthened against other currencies after the US payrolls’ data indicated an incline in the number of jobs contributing to the US economy.
    • The rest of the week saw silver prices holding firm at Rs.41,700 per kg owing to steady domestic demand for the metal brought about by a firm trend overseas.

    February 2018 - Week 2 (5 - 11):

    • The second week commenced with silver trading at Rs.41,500 per kg on the 5th after a strong US dollar index coupled with firmer equities led to a decline in industrial demand for the metal.
    • Demand picked up in the global level with industries and coin makers ramping up purchases to stock up their inventories despite the uneven global cues. This led to silver rate in Srinagar rising to Rs.41,900 per kg on the 6th.
    • However, with the US greenback rising against a basket of other emerging currencies, silver prices in Srinagar dropped to Rs.41,500 per kg on the 7th before plummeting further to Rs.40,800 per kg on the 8th amid the weak trend overseas.
    • Though silver price in Srinagar rebounded to Rs.41,000 per kg the following day, the strengthening US dollar coupled with the well-performing equities led to silver prices touching their lowest monthly figure of Rs.40,600 per kg on the 10th.
    • The rest of the week saw the industrial metal trading firm at Rs.40,600 per kg with poor domestic demand by industries and coin manufacturers amid the weak global trends.

    February 2018 - Week 3 (12 - 18):

    • Strong overseas trends compounded by an increased local demand led to silver rates in Srinagar rising significantly during the week.
    • Silver was priced at Rs.40,900 per kg on the 12th when trading began for the week.
    • The dollar weakened after traders and investors refrained from making purchases ahead of the US inflation data during the week. This led to the white metal being priced at Rs.41,300 per kg on the 13th.
    • With markets eyeing on the US inflation data for clues on the pace of the Fed rate hikes, the US greenback plunged further in the international market. This led to silver rate in Srinagar rising further to Rs.41,400 per kg on the 14th.
    • Thanks to an increased demand from local coin makers and industrial units amid the strong trends overseas, silver price in Srinagar surged to Rs.41,800 per kg on the 15th.
    • The highly anticipated US inflation data proved to be weaker than expected with inflation concerns prevailing in the country. This led to silver being priced at Rs.41,700 per kg on the 16th.
    • The next couple of days saw the industrial metal trading steady at Rs.41,700 per kg with investors and traders banking on the safe-haven metal to hedge against inflation concerns.

    February 2018 - Week 4 (19 - 25):

    • The fourth week began in Srinagar with the white metal priced relatively lower at Rs.41,600 per kg on the 15th after the US dollar began to regain ground from its previous rally of losses.
    • With the US dollar index rising against other apex currencies, silver price in Srinagar plunged to Rs.41,200 per kg on the 21st.
    • The dollar, however, weakened with markets mulled over by possible US government shutdown concerns. This led to an increase in demand for safe haven assets such as silver and the metal was priced at Rs.41,400 per kg on the 22nd.
    • Strong domestic demand coupled with positive global cues resulted in silver rates rising further to Rs.41,600 per kg on the 23rd.
    • The 24th saw silver prices Srinagar stabilising at Rs.41,500 per kg amid the firm trend overseas.
    • Thanks to steady demand from coin makers and industrial units, silver rate in Srinagar remained unaltered at Rs.41,500 per kg until the end of the week.

    February 2018 - Week 5 (26 - 28):

    • The final week commenced with silver trading tad higher at Rs.41,600 per kg on the 26th following an incline in industrial demand amid firm overseas trends.
    • The 27th saw silver rate in Srinagar surging to Rs.41,700 per kg with the US dollar losing ground ahead of the new US Federal Reserve chairman Jerome Powell’s first congressional speech on the country’s economy.
    • The month concluded with silver prices plunging to Rs.41,200 per kg on the 28th as the US dollar rose against a basket of other emerging currencies after the new fed chief Jerome Powell vowed to save the country’s economy from overheating while sticking to the planned number of interest rate hikes during the year.
    • Weak global cues coupled with reduced domestic demand from industrial units and coin manufacturers led to silver price in Srinagar decline at 3.28% during the course of the month.

    Trend of Silver Rate in Srinagar 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 (1st - 7th):

    • Silver prices in Srinagar witnessed a steady rise in prices this week due to increased demand from local coin makers and industrial units.
    • When the month began, silver was priced at Rs.38,925 per kg, this rose to Rs.39,115 per kg on the 2nd as purchases increase.
    • On the 3rd, silver prices fell very slightly to Rs.39,110 per kg, before going up marginally to Rs.39,115 per kg on the 4th.
    • Silver rates 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.
    • The 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 (8th - 14th):

    • Silver was recorded trading at Rs.39,265 per kg when the second week of January began on the 8th.
    • However, silver prices 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 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 continuing at Rs.39,355 per kg at the time of the week’s closing on the 14th of January.

    January 2018 - Week 3 (15th - 21st):

    • 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 (22nd - 28th):

    • 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 23rd as demand from local investors was steady.
    • The 24th saw prices change by Rs.200, which was evident with the Rs.42,200 per kg closing rate seen at the time of closing.
    • Overnight trading positions towards the 25th of January pushed silver prices to surge to Rs.43,100 per kg.
    • Silver rates 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 (29th - 31st):

    • 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 from the previous day continued to flourish.
    • There was a 8.41% change in silver prices this month, one of the highest seen over the past few years.

    Trend of Silver Rate in Srinagar for December 2017 (rates per kg)

    Parameters Silver price (per kg)
    Silver Rate on 1st December 2017 Rs.38,230 per kg
    Silver Rate on 31st December 2017 Rs.39,265 per kg
    Highest Rate in December Rs.39,365 per kg on 30 and 31 December
    Lowest Rate in December Rs.36,545 per kg on 13 December
    Overall Monthly Performance Incline
    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 Srinagar 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 Srinagar 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 rates 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 rates 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 rates 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.
    • Rates, however, fell just as they had risen and the metal’s dropped to Rs.36,920 per kg on the 15th.
    • 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 Srinagar 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 (25 th- 31st)

    • Silver rates were largely on the incline during the last week and month of 2017 with the metal seeing increased demand amid poor global conditions.
    • When this week began, silver was trading at Rs.38,395 per kg - a marginal Rs.40 incline from the previous day’s rates.
    • There was a slight decline the next two days, but an incline was on the cards and prices rose to Rs.38,925 per kg on the 28th of the month.
    • Rates dropped before rising back to a month high rate of Rs.39,265 per kg on the 30th and continuing on till the closing hours of 2016.
    • A host of factors including the capitulation of the US dollar and a steadily increasing local demand caused silver price trend to incline by 2.70% this month.

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

    Parameters Silver price (per kg)
    Silver rate on 1st November 2017 Rs.38,995 per kg
    Silver rate on 30th November 2017 Rs.38,640 per kg
    Highest Rate in November 2017 Rs.40,520 per kg on 18 and 19 November
    Lowest Rate in November 2017 Rs.38,640 per kg on 30 November
    Overall Monthly Performance Decline
    Percentage Change 0.91%

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

    • The first week saw silver price in Srinagar fluctuates significantly owing to the uneven trends overseas coupled with demand vagaries in Srinagar.
    • Silver was recorded trading at Rs.39,995 per kg on the 1st when the week commenced.
    • An improved demand from industrial units and coin manufacturers led to silver rate in Srinagar rising to Rs.39,950 per kg on the 2nd.
    • Strong global trends coupled with weaker equities market proved to be favourable for commodity markets during the week.
    • The 4th saw silver rates stabilising at Rs.39,355 per kg owing to consistent demand from industries and coin makers amid positive global cues.
    • Steady global demand amid the positive trends overseas led to prices remaining untouched at Rs.39,355 per kg on the 5th.

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

    • Steady industrial demand for the metal from the previous week led to silver holding steady at Rs.39,355 per kg on the 6th.
    • However, the sudden political purge in Saudi Arabia led to equity markets tumbling. This resulted in an increased demand for safe-haven assets such as silver and the white metal was priced at Rs.40,040 per kg on the 7th.
    • Steady global demand amid the weakened dollar and poorly performing equities led to silver holding steady at Rs.40,040 per kg until the 9th.
    • But with the US dollar index recovering over the next few days, silver rate in Srinagar dropped to Rs.39,970 per kg on the 10th.
    • silver price in Srinagar remained untouched at Rs.39,970 per kg for the rest of the week after the positive trend overseas a subdued but steady demand for the industrial metal.

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

    • The third week saw silver rate in Srinagar being mostly influenced by the political unrest in Saudi Arabia and the rising tensions between the US and North Korea.
    • The week began with the white metal priced relatively lower at Rs.39,870 per kg on the 13th due to firmer equities market coupled with a strong dollar index.
    • The 14th witnessed silver price in Srinagar rising to Rs.40,140 per kg as the UK markets tumbled with failed negotiations over the Brexit.
    • Strong Asian demand from industries and coin makers led to rates surging further to Rs.40,240 per kg on the 15th.
    • Steady global demand for the industrial metal led to prices remaining unchanged at Rs.40,240 per kg on the 16th, but with world markets recuperating and the dollar strengthening, rates plunged to Rs.40,040 per kg on the 17th.
    • However, with tensions intensifying in the United States and the Korean peninsula, demand for the safe-haven investments surged. This led to prices rising to Rs.40,520 per kg on the 18th.
    • Strong global cues coupled with an increased demand for the metal led to silver rates holding steady at Rs.40,520 per kg on the 19th.

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

    • When trading commenced for the week, the industrial metal was priced at Rs.40,440 per kg on the 20th.
    • However, the next few days witnessed silver rate in Srinagar plummeting with the US economy recovering from the overseas crisis.
    • Silver was recorded trading at Rs.39,780 per kg on the 21st before plunging to Rs.39,265 per kg on the 22nd.
    • The 23rd saw silver price in Srinagar rebounding to Rs.40,060 per kg after a positive trend overseas pushed demand higher for silver in the domestic trade.
    • In addition, with the US-North Korean conflicts taking centre stage, safe-haven demand for the metal rose again. This led to silver trading at Rs.40,040 per kg the next day.
    • When the week ended the industrial metal was priced at Rs.39,780 per kg on the 26th as rates dropped with declining demand amid the poor global trends.

    November 2017 - Week 4 (27th to 30th):

    • A strong dollar index coupled with firmer equities market led to silver price in Srinagar decline significantly during the week.
    • Silver was priced at Rs.39,780 per kg on the 27th when the week began.
    • The possibility of a new US tax reform plan to overhaul the US tax system by the Republicans led to the dollar gaining against a basket of other major currencies during the week.
    • This resulted in silver rate in Srinagar dropping to Rs.39,680 per kg on the 28th which further plunged to Rs.39,115 per kg on the 29th.
    • The month ended with silver priced at Rs.38,640 per kg and Srinagar registering a loss of 0.91% in bullion trade during the month.
    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%

    Add the below content below the table as suggested in Image.

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

    • In Srinagar, silver trading began on a relatively decent note for the month of October.
    • The white metal was priced at Rs.39,530 per kg on the 1st of the month. After continuing to remain the same on the 2nd, silver rate in Srinagar dropped to Rs.39,265 per kg on the 3rd.
    • There was a brief surge in demand on the 4th due to favourable marketing conditions, which led to the metal trading at Rs.39,355 per kg.
    • However, the 5th saw silver price in Srinagar drop to Rs.39,110 per gram, which also happened to be the month’s lowest rate, due to a poor market demand.
    • Demand, though seemed to pick up as local demand surged amid some positive cues from other markets.
    • By the end of the week, silver rate in Srinagar had surged to Rs.39,680 per kg.

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

    • When the second week began, silver opened at a rather improved note with the rates holding at Rs.39,950 per kg.
    • Trading prices rose for much of this week, thanks to solid demand from the industries as well as the coin makers.
    • The 10th saw silver trading at Rs.40,060 per kg, which then rose to Rs.40,285 per kg on the 11th.
    • 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)

    • The third week of October saw silver price in Srinagar drop initially before improving as the week progressed.
    • 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.
    • Silver rate in Srinagar dropped slightly to Rs.40,040 per kg on the 23rd setting a possibly weak trend for the final week of the month.

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

    • Over the final week of October, silver prices in Srinagar saw considerable fall.
    • The fact that Diwali was near didn’t help with the demand and prices remained on the weaker side throughout.
    • When trading began on the 24th, the white metal was trading at a decent rate of Rs.40,060 per kg.
    • Silver rate in Srinagar fell to Rs.39,435 per kg on the 27th and then to Rs.39,115 per kg on the 28th as demand remained characteristically poor.
    • On the final day of the month, rates surged slightly to end at Rs.39,435 per kg.
    • Price trends in Srinagar was poor like other Indian cities, and rates dropped by 0.24% due to poor trading cues.
    Parameters Silver price (per 1 kg)
    Silver rate on 1st September Rs.38,995 per kg
    Silver rate on 30th September Rs.40,060 per kg
    Highest Rate in September Rs.40,440 per kg on 29 September
    Lowest Rate in September Rs.37,235 per kg on 5 & 6 September
    Overall Monthly Performance Incline
    Percentage Change 2.73%

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

    • Silver opened the week recording prices at Rs.40,390 per kg on the 1st.
    • Demand remained stable and the metal continued trading at Rs.40,390 per kg until the 3rd.
    • The 4th saw silver prices in Srinagar rising to Rs.41,075 per kg, courtesy of a weak US dollar performance.
    • Demand for the metal increased as industries and coin makers ramped purchases to improve their inventories. This led to silver prices rising to Rs.41,495 per kg on the 6th.
    • An uncharacteristic drop in demand on the 7th resulted in silver rates falling to Rs.41,130 per kg.
    • North Korea confirmed complete success on a two-stage thermonuclear weapon test. This led to investors gravitating towards investments considered safer and the white metal prices rose to Rs.41,900 per kg on the 9th in Srinagar.
    • With safe-haven investments on the rise, rates remained unchanged at Rs.41,900 per kg on the 10th.

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

    • The week opened with the industrial metal trading at Rs.41,075 per kg on the 11th, which dropped to Rs.41,030 per kg on the 12th due to declining demand in the city.
    • The continued conflicts between the US and North Korea resulted in silver prices increasing to Rs.41,075 per kg on the 13th.
    • Silver prices in Srinagar declined towards the end of the week due to reduced demand from industrial units and coin makers despite positive global trends, and silver traded at Rs.40,890 per kg on the 14th.
    • The white metal prices stood firm at Rs.40,890 per kg for the remainder of the week with stable demand from coin makers and industries.

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

    • Silver traded at Rs.40,440 per kg when the week began on the 18th.
    • The improving US dollar took its toll on silver and prices dropped to Rs.39,680 per kg on the 19th.
    • However, silver rates in Srinagar rose to Rs.40,060 per kg on the 20th after overseas relation between the US and North Korea intensified which resulted in boosting safe-haven investments globally.
    • Prices dropped to Rs.39,670 per kg on the 21st as local demand declined in Srinagar.
    • Silver rates remained unchanged for the rest of the week, thanks to steady demand from industrial units and coin makers.

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

    • The last week started off with the white metal trading at Rs.39,670 per kg on the 25th.
    • The arrival of Dussehra spurred silver purchases in the domestic market. This resulted in silver prices in Srinagar rising to Rs.40,520 per kg on the 26th.
    • However, silver prices in Srinagar dropped to Rs.39,780 per kg on the 27th as domestic demand declined with the recovery of the US economy.
    • Demand for the metal plunged on the 28th due to uneven global trends, and the metal was priced at Rs.39,530 per kg.
    • Silver prices in Srinagar remained unchanged at Rs.39,530 per kg for the rest of the week with low but steady demand from coin makers.
    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)

    • Silver prices in Srinagar was reminiscent of the trends in the neighbouring cities, with the metal trading significantly better compared to the previous month.
    • When the month began, silver was priced at Rs.38,925 per kg.
    • Prices seemed to fall till the 3rd when the metal was trading at Rs.37,965 per gram but picked up to reach Rs.38,120 per kg on the 4th, thanks to an improved demand from jewellers.
    • After this latest demand ran its course, prices fell to Rs.37,235 per kg, the lowest silver rate for this month.

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

    • Silver rate in Srinagar had improved slightly when this week began with the metal trading at Rs.37,295 per kg.
    • As demand inclined slightly, prices went up to Rs.38,345 per kg on the 8th before falling to Rs.37,965 per kg on the 9th.
    • With the North Korea - US conflict intensifying, the dollar fell. This led to silver price in Srinagar increasing to Rs.38,925 per kg on the 10th.
    • Demand increased again as a result of a weak dollar to go up to Rs.39,530 per kg on the 11th.
    • On the 12th and the 13th, silver demand remained stable, which led to the metal trading at Rs.39,670 per kg till the end of the week.

    August 2017 - Week 3 (14 -20):

    • Silver trading saw a few ups and downs with rates increasing and decreasing consistently this week.
    • On the 14th, the metal was priced at Rs.39,670 per kg. Due to sustained demand, rates remained unchanged on the 15th as well.
    • The 16th, however, saw silver prices in Srinagar fall to Rs.38,815 per kg as investors remained cautious.
    • Prices were on the rise on the 17th as they hit Rs.39,530 per kg due to a weak US economic data.
    • When the week ended, silver prices were recorded at Rs.39,115 per kg.

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

    • Silver rates seemed to be on the increase for most of the week before a rallying dollar slowed down the progress.
    • On the 21st, when the fourth week commenced, silver was trading at Rs.39,115 per kg.
    • A sustained demand saw to it that silver traded at Rs.39,265 per kg on the 22nd and the 23rd of the month.
    • Prices continued to remain on the positive with the metal selling at Rs.39,355 per kg on the 23rd, before falling to Rs.38,995 per kg on the 4th.
    • The 26th and the 27th saw silver prices remain steady at Rs.38,995 per kg as a strengthening US dollar halted silver sales to an extent.

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

    • The final week of August began with silver trading at Rs.39,435 per kg.
    • Silver rates in Srinagar reached a monthly high of Rs.40,190 per kg on the 29th and remained largely unchanged on the 30th as demand improved amidst a positive global trend.
    • On the last day of the month, silver prices fell to Rs.40,040 per kg, as demand fell slightly.
    • Silver price trend for this month was on the increase with rates going up by 2.86%, compared to the previous month.
    Parameters Silver price (per kg)
    July 1st Rate Rs.38,640 per kg
    July 31st Rate Rs.38,640 per kg
    Highest Rate in July Rs.38,690 per kg on 3 July
    Lowest Rate in July Rs.36,035 per kg on 10 July
    Overall Monthly Performance No change
    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 Srinagar remained weak due to weak trend overseas and poor industrial demand.
    • The highest silver price for the month of July in Srinagar 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 Srinagar.
    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 - 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.
    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
    Overall Performance Incline
    Percentage Change 0.04%

    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%.
    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
    Overall Performance Decline
    Percentage Change -5.94%

    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
    Overall Performance Decline
    Percentage Change -4.21%

    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
    Overall Performance Rise
    Percentage Change 3.86%

    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
    Overall Performance Incline
    Percentage Change +7.54%

    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.

    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

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