Silver Rate in Surat

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Silver Price in Surat

Silver is highly sought-after by millions of Indians. According to experts, given that mining of silver is getting costlier, the price of the white precious metal may also increase. According to latest reports, the gold-to-silver ratio in 2015 reveals that silver is under priced vis-a-vis gold, thereby paving way for increased buying of silver. The low prices trigger result in more consumers turning to silver.

Silver is widely used in Surat in the form of silverware and gifts during festivals and weddings. Silver is sought across varying age groups and social strata. Several jewellery exhibitions are regularly held in the city of Surat, attracting serpentine queues and bookings. Various kinds of jewellery such as bajubandh, bracelets and anklets are in demand in addition to handcrafted artefacts.

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

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

Trend of Silver Rate in Surat 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):

• When trading began in Surat, the industrial metal was recording trading firm at Rs.41,100 per kg on the 1st.
• Demand for the metal surged in the bullion market due to uneven performances by the equity markets as the week progressed.
• On the 2nd, prices rose to Rs.41,400 per kg after an incline in industrial offtake was recorded following a bearish run by the US dollar.
• The 3rd saw silver price in Surat rising further to Rs.41,600 per kg with domestic stock markets tumbling amid the weakened US dollar.
• Silver rate in Surat remained untouched at Rs.41,600 per kg for the rest of the week with the bullion market tracking a firm trend overseas.

March 2018 – Week 2 (5 – 11):

• The week opened with the white metal prices holding steady at Rs.41,600 per kg on the 5th with consistent demand for the metal.
• However, a decline in industrial demand at the global level led to silver rate in Surat dropping to Rs.41,400 per kg on the 6th.
• The 7th witnessed silver price in Surat rebounding to Rs.41,900 per kg after demand from investors and traders inclined with the US dollar index losing against other apex currencies.
• With the US dollar regaining lost ground amid well-performing equities, demand for the metal subsided. This led to silver being priced at Rs.41,500 per kg on the 8th which plunged further to Rs.41,300 per kg on the 9th amid the poor overseas trends.
• Demand, however, picked up as the week progressed after the US dollar tumbled amid market uncertainties and silver was recorded trading at Rs.41,600 per kg on the 11th when the week came to an end.

March 2018 – Week 3 (12 – 18):

• Silver trade in Surat saw prices dropping significantly due to a bullish performance by the US dollar during the week.
• Silver was priced at Rs.41,600 per kg on the 12th, when the week began with firm trends from the previous week.
• With the stronger than expected US jobs and payrolls’ data indicating a rise in the number of jobs contributing to the US economy, the greenback surged. This led to silver rate in Surat dropping to Rs.41,400 per kg on the 13th.
• Though prices rebounded to Rs.41,700 per kg on the 14th as the dollar tumbled after the sudden dismissal of the US Secretary of State, speculations over a possible Fed rate hike during the next week led to dollar rebounding and silver was recorded trading at Rs.41,500 per kg on the 15th.
• Poor trends overseas compounded with reduced domestic demand from local industrial units and coin makers resulted in prices plummeting to Rs.41,300 per kg and 41,100 per kg on the 16th and the 17th respectively.
• The week concluded with the industrial metal trading at Rs.41,100 per kg on the 18th as demand remained low with international markets expecting a rise in the US interest rates during the central bank’s monetary policy meeting next week.

March 2018 – Week 4 (19 – 25):

• Trading opened for the week with the white metal priced relatively lower at Rs.41,000 per gram on the 19th following a slight decline in demand from the previous week.
• Thanks to an increase in demand from local coin manufacturers and industrial units, Silver price in Surat surged to Rs.41,200 per kg on the 20th.
• Though Silver rate in Surat plunged to Rs.41,000 per gram the next day, silver prices soon rebounded with investors and traders banking on the metal to hedge against the uneven equities and the metal was recorded trading at Rs.41,500 per kg on the 22nd.
• With markets cautious ahead of the US Federal Bank monetary policy announcement on future Fed rate hikes, demand for the white metal remained strong over the next few days. Silver was priced at Rs.41,600 per kg on the 23rd amid the firm overseas trends.
• The week came to an end with prices remaining untouched at Rs.41,600 per kg on the 25th with the bullion market following strong trends overseas.

March 2018 – Week 5 (26 – 31):

• The last week commenced with silver price in Surat holding at Rs.41,600 per kg on the 26th with steady demand amid firm global cues.
• With tensions rising between the US and Russia, investors gravitated towards assets considered safer such as gold and silver. This led to prices surging to Rs.41,800 per kg on the 27th.
• The dollar made gains towards the end of the month as equities also recovered, resulting in the metal trading at Rs.41,400 per kg on 29th.
• The end of the month saw no change in price as silver traded at Rs.41,400 per kg on the last day.

Trend of Silver Rate in Surat 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 (1st - 4th):

• The month opened in Surat with the white metal trading firm at Rs.42,600 per kg on the 1st of January. This was also the highest recorded monthly figure in the city.
• Strong global cues coupled with steady demand from coin manufacturers led to silver rates remaining untouched at Rs.42,600 per kg on the next day.
• The 3rd, however, saw silver prices dropping to Rs.41,700 per kg with the US dollar rising against a basket of currencies as a highly anticipated US payrolls data indicated a rise in jobs contributing to the US economy.
• Thanks to steady demand from coin makers and industries amid firm overseas trends, prices remained untouched at Rs.41,700 per kg on the 4th.

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

• Trading opened for the second week with the white metal priced at Rs.41,500 per kg on the 5th with demand taking a hit amid the strengthening US dollar and rising equities.
• The 6th, however, saw silver rates in Surat rising to Rs.41,900 per kg with an incline in industrial offtake amid firm global cues.
• But with the US dollar regaining lost ground against other apex currencies, demand for the metal declined over the next few days.
• Silver was priced at Rs.41,500 per kg on the 7th before plunging to Rs.40,800 per kg on the 8th amid the weak trend overseas.
• Prices rebounded to Rs.41,000 per kg on the 9th before dropping again to Rs.40,600 per kg on the 10th due to a decline in demand brought about by the dominating US dollar index.
• Poor demand coupled with weak global trends led to silver rates remaining untouched at Rs.40,600 per kg on the 11th.

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

• Silver rates rose considerably following an increase in demand was brought about by the weakening dollar and equities during the week.
• When trading began for the week, the industrial metal prices were recorded holding at Rs.40,900 per kg on the 12th.
• With the inflation data around the corner, investors and traders refrained from making purchases. This led to the US dollar losing against other currencies and silver was priced at Rs.41,300 per kg on the 13th.
• With markets mulled over ahead of the US ahead and eyeing on clues on the pace of the Fed rates hikes from the report, silver rates rose to Rs.41,400 per kg on the 14th.
• Strong trends overseas coupled with an increased demand from coin manufacturers and industries led to silver prices in Surat rising further to Rs.41,800 per kg the following day.
• The inflation data, however, backfired on the economy with a possible inflation crisis during the year. This led to silver being priced at Rs.41,700 per kg on the 17th.
• With stockists and traders gravitating on safe-haven assets to hedge against inflation concerns, demand for the metal remained strong. This led to the white metal prices holding steady at Rs.41,700 per kg for the remainder of the week.

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

• Trading began for the week with the industrial metal priced tad lower at Rs.41,600 per kg on the 15th with the US greenback recovering from its previous week’s rally of losses.
• Prices plunged to Rs.41,200 per kg the next day with demand taking a hit amid the strengthening US dollar and rising equity markets.
• However, with markets concerned over a possible US government shutdown, the US dollar weakened. This led to silver being priced at Rs.41,400 per kg on the 22nd.
• The 23rd witnessed silver rates surging further to Rs.41,600 per kg with demand picking up amid the weakening US dollar and equities market.
• The next couple of days saw silver trading firm at Rs.41,500 per kg with strong and steady demand from industrial units and coin makers amid positive trends overseas.

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

• When trading began for the last week of February, the industrial metal was recorded trading at Rs.41,600 per kg on the 26th owing to an increased demand brought about by positive overseas trends.
• With markets remaining cautious ahead of the US Federal Reserve chairman Jerome Powell’s first congressional address to the nation, the dollar weakened. This led to silver prices in Surat rising to Rs.41,700 per kg on the 27th.
• However, the dollar rose against a basket of other emerging currencies with the new Fed chief promising to save the nation’s economy from overheating while sticking to planned interest rate hikes. This led to silver rates plunging to Rs.41,200 per kg on the last day.
• Silver prices in Surat declined by 3.28% due to the poor global cues that pushed demand lower during the course of the month.

Trend of Silver Rate in Surat 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 Surat witnessed a steady rise in prices this week due to an 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 price in Surat fell very slightly to Rs.39,110 per kg, before going up marginally to Rs.39,115 per kg on the 4th.
• Silver rate in Surat rose on the 5th to hit Rs.39,265 per kg as demand was on the rise - a considerably strong rise compared to sub par performance of the previous few days.
• This 6th and the 7th of January saw silver rates rise to Rs.39,355 per kg and hold on at this rate till the closing hours of the week.

January 2018 - Week 2 (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 Surat surged to Rs.39,265 per kg before rising further to Rs.39,355 per kg on the 13th as the US dollar seemed to weaken amid growing concerns in the US.
• Strong industrial demand coupled with a positive trend overseas led to silver rates continue at at Rs.39,355 per kg at the time of the week’s closing on the 14th of January.

January 2018 - Week 3 (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 rate in Surat 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.
• 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.
• Silver rate in Surat 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. This was also the highest gold rate for the month.
• Silver price in Surat fell to Rs.42,200 per kg on the 30th - the second day of this week as the US dollar remained strong, thanks to a firm equity market.
• The 31st too saw silver rates continue at Rs.42,200 as the demand form the previous day continued to flourish.
• There was a 8.41% change in silver prices witnessed over the course of this month.

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

Parameters	Silver price (per kg)
Silver Rate on 1st December 2017	Rs.38,230 per kg
Silver Rate on 31st December 2017	SRs.39,265 per kg
Highest Rate in December	Rs.39,365 per kg on 30 and 31 December
Lowest Rate in December	Rs.36,545 per kg on 13 December
Overall Monthly Performance	Incline
Percentage Change	2.70%

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

• As the US dollar began December on a strong note, silver trading cues were on the weaker side for the first two weeks of this month.
• When trading opened in Surat 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 Surat 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 Surat 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 Surat 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):

• Trading commenced in Surat with silver rates fluctuating amid demand vagaries during the first week of November.
• Silver was priced at Rs.38,995 per kg on the 1st of November.
• However, an increase in domestic demand ahead of the festive season resulted in silver price in Surat surging to Rs.39,950 per kg on the 2nd.
• Demand for the industrial metal remained consistent for much of the week due the poorly performing equities market.
• The week concluded with the white metal trading at Rs.39,355 per kg on the 4th and the 5th after a positive trend overseas resulted in a steady but subdued demand for the metal.

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

• Steady local demand from the previous week led to silver price in Surat firm at Rs.39,355 per gram on the 6th of November.
• World markets tumbled after the news about the arrest of top Saudi’s top ranking officials and diplomats broke out. This pushed demand higher for the safe-haven metal and silver was trading at Rs.40,040 per kg on the 7th.
• The political unrest in the Middle east led to an increase in demand in global as well as local markets. This led to silver rate in Surat remaining untouched at Rs.40,040 per kg on the 8th and the 9th.
• However, with equities recovering from the initial shock, demand for the industrial metal declined and silver was priced at Rs.39,970 per kg on the 10th.
• Strong global cues coupled with steady demand from industrial units and coin manufacturers led to silver holding steady at Rs.39,970 per kg for the remainder of the week.

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

• The third week opened with silver priced relatively lower at Rs.39,870 per kg on the 13th owing to a marginal decline global demand for the metal.
• However, with the Brexit fallout having a negative impact on the British equity markets, demand for safe-haven assets such as silver surged. This led to silver price in Surat rising to Rs.40,140 per kg on the 14th.
• An increase in Asian demand from industries and coin makers amid the overseas crisis led to silver price in Surat surging to Rs.40,240 per kg on the 15th and the 16th.
• Local demand dropped amid a poor trend overseas and the industrial metal prices plunged to Rs.40,040 per kg on the 17th.
• However, the 18th witnessed rates surging to Rs.40,520 per kg after diplomatic relations between the US and North Korea worsened during the week.
• Strong global cues coupled with steady local demand for the metal led to prices remaining unchanged at Rs.40,520 per kg on the 19th as well.

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

• The fourth week opened with the industrial metal priced at Rs.40,440 per kg on the 20th after global markets stabilised from the previous week’s downfall.
• The 21st saw silver price in Surat at Rs.39,780 per kg as the commodity markets took a hit with equity markets recovering during the week.
• Prices dropped further to Rs.39,265 per kg on the 22nd, but silver price in Surat rebounded to Rs.40,060 per kg on the 23rd as domestic trade witnessed a rise in demand from industries and coin makers.
• The renewed geopolitical crisis between the US and North Korea led to the world markets tumbling again during the week.
• Strong global trends compounded by an increase in safe-haven demand for silver led to week concluding with the metal priced at Rs.39,780 per kg on the 26th.

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

• The final week saw silver rate in Surat drop significantly as demand from industries and coin manufacturer began to decline.
• Silver was priced at Rs.39,780 per kg on the 27th when the week began.
• However, with demand from industrial units and coin makers dropping during the week, silver price in Surat plunged to Rs.39,680 per kg on the 28th.
• Demand continued to fall amid the weak trends overseas and the metal was priced at Rs.39.115 per kg on the 29th.
• The white metal was recorded trading at Rs.38,640 per kg on the 30th as the month drew to an end.
• Surat witnessed silver rates decline at 0.91% during the month owing to poor global trends and weak demand for the industrial metal.

Trend of Silver Rate in Surat for October 2017 (rates per kg)

Parameters	Silver price (per kg)
Silver rate on 1st October 2017	Rs.39,530 per kg
Silver Rate on 31st October 2017	Rs.39,435 per kg
Highest Rate in September	Rs.40,440 per kg on 16 October
Lowest Rate in September	Rs.39,110 per kg on 5 and 19 October
Overall Monthly Performance	Decline
Percentage Change	-0.24%

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

• When trading started for October, silver was priced at Rs.39,540 per kg. This was due to a poor demand stemming from various groups of investors in the city.
• Prices remained unchanged on the 2nd before falling to Rs.39,265 per kg on the 3rd due to a poor demand.
• Silver price in Surat went up briefly to Rs.39,355 per kg on the 4th before falling to monthly low rates of Rs.39,110 per kg on the 5th of the month.
• Rates were subdued till the 6th but jumped to Rs.39,680 per kg the next day due to a surge in local demand.
• When the week ended, gold was still trading at Rs.39,680 per kg as demand remained steady.

October 2017 - Week 2 (9 - 15):

• When the second week began, silver was priced at RS.39,950 per kg - a slight increase from the previous day’s rates.
• Silver rate in Surat rose to Rs.40,060 per kg on the 10th as local demand was aided by positive cues from the overseas market.
• Silver rate in Surat kept rising over this week as demand remained on the higher side, with investors rushing in to make purchases.
• Silver price in Surat went up to Rs.40,285 per kg on the 12th and then to Rs.40,390 per kg for the remaining days of the week.

October 2017 - Week 3 (16 - 21):

• Overnight trading had pushed silver price in Surat up to Rs.40,440 per kg on the 16th of October.
• But, a drop in domestic demand led to a fall in rates the next day and the metal traded at Rs.40,285 per kg.
• As the US dollar had a strong showing, silver rate in Surat dropped again to Rs.40,060 per kg on the 18th and then to Rs.39,110 per kg on the 19th of the month.
• However, festive demand pushed silver rate in Surat back up to Rs.40,285 per kg on the 20th of October.
• When the week ended, the white metal was trading at Rs.40,060 per kg.

October 2017 - Week 4 & 5 (22 - 31):

• Over the final 10 days of October, silver price in Surat were largely on the decline, which was caused due to poor demand.
• On the 22nd of the month, silver rates were recorded at Rs.40,060 per kg.
• Prices remained steady till the 24th, but on the 25th rates dropped to Rs.39,780 per kg as domestic demand was on the weaker side.
• The 28th saw silver rate in Surat hold at Rs.39,115 per kg as demand kept sliding down.
• However, the final few days of the month saw a brief increase in demand, which caused prices to increase steadily.
• When the month ended on the 31st, silver rates were holding at Rs.39,435 per kg.
• Overall, there was a 0.24% decline in silver prices in Surat, which was due to weak demand.

Trend of Silver Rate in Surat for September 2017 (rates per kg)

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 to 10th)

• The price of silver in Surat was Rs.40,390 per kg from 1-3 September as local demand was consistent, keeping prices steady.
• Demand rose as overseas industrial units increased orders, pushing silver prices to Rs.41,075 per kg on 4 September.
• Coin makers also sought to capitalise on low import rates and increased demand for the industrial metal, resulting in silver rising to Rs.41,495 per kg on 6 September.
• While U.S. markets were volatile, the U.S. dollar rate fluctuated, leading to higher demand for safe-haven assets like bullion which pushed silver rates higher.
• Demand rose to a monthly high of Rs.41,900 per kg as the week drew to a close on 9 & 10 September.

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

• Silver prices in Surat were stable but on the decline in the second week of September, with the metal trading at Rs.41,075 per kg on 11 September due to reduced industrial offtake.
• The recovery of the U.S. dollar and the resultant rise in import rates for silver led to reduced demand from local industry, which kept prices low.
• Overseas demand was also muted, as silver traded at Rs.41,030 per kg on 12 September.
• Prices continued to drop as coin makers also reduced orders, resulting in silver falling to Rs.40,890 per kg on 14 September.
• Prices did not change for the rest of the week in spite of fluctuations across the bourses as industrial units awaited news on a possible rate hike by the U.S. Federal Reserve.
• The week ended on 17 September with silver continuing to trade at Rs.40,890 per kg.

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

• Demand for silver among industrial units was muted in the third week of September, with silver opening the week at Rs.40,440 per kg on 18 September.
• Prices dipped to Rs.40,060 per kg on 20 September and slid to Rs.39,670 per kg on 21 September due to a sharp decrease in orders from local coin makers and industrial units.
• A marginal rise in price was recorded as the week ended, with silver trading at Rs.40,040 per kg from 22-24 September.

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

• The last week of September saw fluctuations in the price of silver due to conflicting cues from overseas demand and a rising U.S. dollar.
• Silver traded at Rs.39,670 per kg on 25 September and rose briefly to Rs.40,520 per kg on 26 September as local demand was steady.
• A drop in international demand for silver led to prices falling to Rs.39,780 per kg on 27 September, with prices falling further to Rs.39,530 per kg on 28 September.
• Demand stagnated in spite of uncertain markets as the Catalan independence referendum approached.
• Silver prices in Surat did not change as the month ended on 30 September and recorded a loss of 2.12% over the course of the month.

Trend of Silver Rate in Surat for August 2017 (rates per kg)

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 price in Surat were on the fall for most of this week, courtesy of a weak demand from industrial units. However, the week opened at a relatively high price of Rs.38,925 per kg.
• Rates dropped to Rs.38,455 per kg on the 2nd before dropping again to reach Rs.37,965 per kg on the 3rd of August. This was because of a strong western market, which brought down the extent of precious metal purchases around the world.
• On the 4th, silver prices in Surat increased considerably to reach Rs.38,120 per kg, as the US dollar underwent a minor slump in its valuation.
• The 5th and the 6th saw silver trade at Rs.37,235 per kg - the lowest rate for the month - as dollar bounced back from its momentary weak point.

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

• When trading started for the second week, silver was priced at Rs.39,295 per kg, despite the demand being mostly subdued throughout the weekend.
• Silver rates in Surat increased to Rs.38,345 per kg on the 8th as demand from coin makers surged. But, a gaining US dollar pushed trading down, which subsequently pushed silver prices to Rs.37,965 per kg on the 9th of August.
• Demand for silver bounced back on the 10th, which was reflected in the metal trading price of Rs.38,925 per kg.
• Towards the end of the week, silver price in Surat surged as demand from both industrial and retail units improved. This led to the white metal trading at Rs.39,670 per kg over the final two days of the week.

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

• The third week commenced with silver still priced at Rs.39,670 per kg, thanks to steady global prices.
• A massive fluctuation in local demand pushed silver price in Surat to Rs.38,815 per kg - a Rs.855 decrease in a span of a day.
• But, the ongoing US - North Korea stand-off led to the American market collapsing, which led to an increased safe-haven demand.
• Due to this, silver rate Surat rebounded to reach Rs.39,530 per kg on the 17th of August. However, this high pricing wasn’t feasible from the investor point of view, which caused demand to drop the next day.
• Silver rate in Surat went down to Rs.39,115 per kg on the 18th and - as there was a weak yet sustained demand - silver rates remained unchanged till the end of the week.

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

• This week’s trading commenced with silver rates starting at Rs.39,115 per kg.
• There was a slight increase in demand on the 22nd, which pushed silver rates to Rs.39,265 per kg and again to Rs.39,355 per kg as demand picked up slowly.
• However, a significant drop in industrial demand across the Asian peninsula saw silver rates drop to Rs.38,995 per kg on the 25th.
• A steady demand from local buyers, amidst a weak continental demand, helped maintain silver rats at Rs.38,995 per kg for the final two days of this week.

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

• When trade exchanges opened for the final week of August, silver rates surged slightly.
• On the 28th, the white metal was priced at Rs.39,435 per kg.
• Prices went up to Rs.40,190 per kg as the US market remained shaky as a result of the hurricanes, which put the US - North Korea issue on the backburner.
• Rates remained at Rs.40,190 per kg as safe-haven purchases increased in the North American country, and kept local demand steady.
• On the final day of the month, however, silver prices dropped to Rs.40,040 per kg as markets rallied after measures were taken to minimise damage.

Trend of Silver Rate in Surat 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
Percentage Change	0%

July 2017 - Week 1 ( 1- 9):

• In Surat, silver was priced at Rs.38,640 per kg when trading commenced for the month of July.
• Trading rates remained the same on the 2nd, before reaching a monthly high figure of Rs.38,690 per kg on the 3rd of August.
• Silver price in Surat went down on the 5th to hit Rs.37,705 per kg as a result of domestic demand dropping.
• The white metal’s prices were expected to fall, but before increasing slightly on the 37,800 per gram but decreased to Rs,3,115 per kg on the 6th and ended the week at the same rate.

July ‘17- Week 2 (10 to 16)

• During the trading day of the 10th, silver rates reached a monthly low of Rs.36,035 per kg.
• Though prices increased over the next few days, the week saw plenty of declines as well.
• On the 13th, silver rates went up to Rs.36,920 per kg and traded at the same rate on the 14th of July.
• As demand from industrial units fell steeply, silver rates went down to Rs.36,270 per kg on the 15th.
• Silver price in Surat dropped on the16th as well to go down to Rs.36,180 per kg and remained there till the time of closing.

July ‘17- Week 3 (17 to 23)

• When trading began for the third week of July, silver was still trading at Rs.37,180 per kg.
• Due to demand in the city increasing, silver prices surged to Rs.37,600 per kg on the 18th and went up again on the 19th to Rs.36,705 per kg the next day.
• Silver rates went up the for the remaining two days of the week as they went up to Rs.37,800 per kg on the 22nd and then to Rs.38,005 per kg on the 23rd of July.

July ‘17- Week 4 (24 to 31)

• Prices changes significantly this week with fluctuation apparent on all the days.
• When the week began the white metal was trading at Rs.38,120 per kg which then went up 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 rate in Surat 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 drastic changes over this month, silver price trends remained at 0% as rates ended where they started - at Rs.38,640 per kg.

Silver as an investment in Surat

For many investors, silver is not only a robust hedge against inflation and economic instability, but also diversifies the asset allocation of a portfolio. Most consumers in Surat view the white precious metal as a safe haven of investment owing to its intrinsic value. Small investors find silver more affordable than gold. Also, owing to its wide uses in several industries, the demand for silver is on the rise and therefore, continues to be a valuable investment.

Physical silver: Most consumers buy silver in the form of jewellery or artefacts. There are several prominent stores across Surat which offer a wide range of silverware and jewellery. Sterling silver has resale value and therefore, widely popular.

Silver contracts: Silver is traded in Multi Commodity Exchange (MCX) and National Commodity & Derivatives Exchange (NCDEX). Silver micro is traded in 1 kg. Investors ought to bear various charges such as brokerage, exchange levy and stamp duty among others.

Silver rates in Surat

The price of the white precious metal has been on the decline since January 2015. The price of the precious metal which was pegged at Rs.40065 in the month of January, decreased by -4.6% at Rs. 38200. Barring minor fluctuations, the price of silver followed a downward trend for the most part of March and April at Rs.37925, Rs.37279 respectively. The price of silver, however, marginally rose by 2.7% to Rs.38321 in the month of May but plummeted by -4.2% to Rs.36696 in June. The price of the white precious metal continued to slide further in the months of August and September at Rs.36102 and Rs.35512 respectively. The price of silver hovered around Rs.35000 in the months of October and November with minor fluctuations. 1 kg of silver was pegged at Rs.34768 in the month of December.

Also Check Silver Price in NearBy Cities of Surat

Silver Rate in Mumbai	Silver Rate in Pune	Silver Rate in Ahmedabad
Silver Rate in Nagpur	Silver Rate in Indore

Also Know: Gold Rate in Surat