Silver Rate in Telangana

  • Today's Silver Rate In Telangana ( 15 Aug 2020 )

    ₹ 66.95
    Today's Silver Rate per gram

    Compare Silver Rate In Telangana (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Silver (1 gram) ₹ 66.95 ₹ 65.01 ₹ 1.94 ↑
    Bar Silver (1 Kg) ₹ 66,950 ₹ 65,010 ₹ 1,940 ↑

    Silver Price In Telangana for Last 10 Days

    Date Silver (1 gram) Bar Silver (1 Kg)
    14 Aug 2020 ₹ 66.95 ₹ 66,950
    13 Aug 2020 ₹ 65.01 ₹ 65,010
    12 Aug 2020 ₹ 72.55 ₹ 72,550
    11 Aug 2020 ₹ 75.16 ₹ 75,160
    10 Aug 2020 ₹ 74.22 ₹ 74,220
    09 Aug 2020 ₹ 74.21 ₹ 74,210
    08 Aug 2020 ₹ 76.52 ₹ 76,520
    07 Aug 2020 ₹ 73.51 ₹ 73,510
    06 Aug 2020 ₹ 71.51 ₹ 71,510
    05 Aug 2020 ₹ 65.06 ₹ 65,060

    Weekly & Monthly Graph of Silver Rate in Telangana

    • 7 Days
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    • 3 Months
    • 6 Months

    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Silver Rate in Telangana

    Telangana might be the newest state in the country but it has a long cultural and historical past which is hard to match. The state has a legacy of being ruled by some of the richest kingdoms of the country, where silver was used for commerce, trade and industry, making the state one of the biggest consumers of silver in the past. Today, Telangana is home to major towns and cities which account for a decent portion of the silver consumed in the country. Silver prices in Telangana are closely linked to international prices, given the fact that most of the silver is imported. The cost of silver on a particular day could vary, with a number of factors impacting the amount one pays for it.

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

    Parameters Silver Price (per kg)
    July 1 Rate Rs.48,560 per kg
    July 31 Rate Rs.63,010 per kg
    Highest Rate in July Rs.66,060 per kg on 30 July
    Lowest Rate in July Rs.48,510 per kg on 5 July
    Overall Monthly Performance Incline
    Percentage Change 29.75%

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

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

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

    Parameters Silver Price (per kg)
    Rate on May 1 Rs.42,530 per kg
    Rate on May 31 Rs.50,100 per kg
    Highest Rate in May Rs.51,400 per kg on 25 May
    Lowest Rate in May Rs.41,010 per kg on 2 May
    Overall Monthly Performance Incline
    Percentage Change 17.79%
    • For the month of May, the price of silver opened at the rate of Rs.42,530 per kg on 1 May. On 3 May, silver saw its rates drop to the rate of Rs.41,210 per kg. The precious white metal prices had dropped, driven by a firm U.S. dollar and a fall in the risk sentiment of investors. This was, in turn, led by the tensions brewing between the U.S. and China. Soon after, on 7 May, the rates of silver had shot up to Rs.42,010 per kg. The rates of the metal had increased after witnessing a dip during the previous session as the U.S. had released weak economic data and this had underscored the impact of the Coronavirus pandemic. Investors all across the world were waiting for the U.S. to release its jobless claims report. The first week of the month had ended with the metal standing at the rate of Rs.43,510 per kg.
    • The following week kicked off with the metal being sold at the rate of Rs.43,610 per kg. 10 May and 11 May had seen the rates of silver drop down to Rs.43,090 per kg. The prices had fallen as the U.S. dollar gained from rapid safe haven buying and investments. This was led by the fears of one more possible wave of the coronavirus pandemic impacting the economy. By 15 May, the rates of the metal had increased again and stood at the rate of Rs.43,160 per kg. The prices of the white metal had increased, and the price hike was led by the increasing tensions between China and USA. On 16 May, silver stood at the rate of Rs.46,900 per kg. The rise in price had again been led by the trade tensions between the two countries and this had added to the growing fears over the global economy weakening.
    • The third week had then opened with silver trading lower at the rate of Rs.46,710 per kg. These rates had dipped from a high and this was led by a surge in stocks and oil. This was because of the optimism of a vaccine for the Coronavirus. The rates had kept fluctuating over the next few days and settled at the rate of Rs.48,200 per kg by 21 May 2020. The prices of the metal had then hit the rate of Rs.48,350 per kg on 23 May. The hike in the price of silver had been driven by the fears over a weak global economy for a prolonged period in the past months.
    • By the end of the month, the price of the precious white metal stood at the rate of Rs.48,360 per kg. The rates of the metal had hit its highest point for the month by 25 May 2020. On this day, the metal was sold at the rate of Rs.51,400 per kg. The prices had then increased due to the concerns over the trading relations between Washington and China. After silver prices had risen to Rs.48,700 per kg by 27 May, it had decreased to Rs.47,910 per kg by 28 May. The month closed with the metal priced at the rate of Rs.50,100 per kg on 31 May. There was an overall hike of 17.79% in the performance of the metal over the month of May 2020.

    Trend of Silver Rate in Telangana for April 2020 (rates per kg)

    Parameters Silver Price (per kg)
    April 1 Rate Rs.40,500 per kg
    April 30 Rate Rs.41,520 per kg
    Highest Rate in April Rs.42,710 per kg on 21 April
    Lowest Rate in April Rs.40,360 per kg on 6 April
    Overall Monthly Performance Incline
    Percentage Change 2.51%
    • Silver witnessed an overall increase of 2.51% in its price in the month of April. The month started with the price of the precious metal standing at the rate of Rs.40,500 per kg. This price was stable for five days in the beginning of the month. However, on the 6th day of the month, the precious metal had hit a low of Rs.40,360 per kg which is also the lowest recorded price for the metal during the month. One of the major reasons behind the drop in the price of the metal was the fact that the U.S. dollar and global equities were being strengthened. The boost was also accompanied by the diminishing number of corona virus spread and infection cases across the world. 9th April onwards, the traders around the world has started to hedge risks and started investing. Some of the top fuel producers across the globe met together to stem the market slump, in the midst of improving the risk sentiment and they hoped that the coronavirus would soon come to an end. As a result of this meeting and the outcome thereafter, the price of the white metal witnessed an increase and stood at a rate of Rs.41,290 per kg.
    • By 12th of April 2020, the precious metal had witnessed further hikes in its price and finally stood at the rate of Rs.41,400 per kg. Owing to the fear of the global economic recession which has been affected by the spread of COVID-19 virus, more and more investors turned to the silver as a haven investment. By 16th of April, the rates of silver had seen a rise in its price to Rs.41,920 per kg as a weak manufacturing data had been released by the U.S. The thoughts in regard to a global economic fallout had also been affected by the low retail sales. On 17 April the rate of the precious metal stood at the rate of Rs.41,860 per kg. However, on the 19th of April, the prices had again dropped by Rs.650 and stood at the rate of Rs.41,210 per kg.
    • On 20th of April, the rates of the precious metal had dropped, driven by a firm U.S. dollar amid doubts brewing about the plans of the U.S. to ease its restrictions and reopen the economy. On 22 April, the prices of the precious metal had reduced to Rs.41,660 per kg. The decrease was owed by the investors’ appetite for haven investments and a lot of stimulus measures that had been established by many central banks across the globe. These had been caused by the fear over a large-scale economic depression. The rates of silver had by then witnessed a lot of fluctuations all throughout the week and was finally standing at the rate of Rs.42,540 per kg on the 26th day of the month.
    • On 29th of April 2020, the prices of the white metal had dropped further again, and it finally stood at the rate of Rs.42,210 per kg. This was a drop of about Rs.330 which was caused by the appetite for risk after witnessing a sudden spike as a few countries wanted to start easing all curbs which had been in place to fight against and beat the coronavirus outbreak. The month of April had come to an end with the price of the precious metal standing at the rate of Rs.41,520 per kg on the last day of the month.

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

    Parameters Silver Price (per kg)
    March 1 Rate Rs.47,400 per kg
    March 31 Rate Rs.40,500 per kg
    Highest Rate in March Rs.50,700 per kg on 6 March
    Lowest Rate in March Rs.37,800 per kg on 19 March
    Overall Monthly Performance Decline
    Percentage Change -14.55%
    • For the month of March, the rate of silver stood at the rate of Rs.47,400 per kg in Telangana. There was no change in the prices when compared to the closing price of the previous month. The rates jumped by Rs.1,100 the next day as there was a rebound from a steep fall.
    • The precious metal recorded its highest price for the month on 6th March when it stood at the rate of Rs.50,700 per kg. in the city. The traders across the globe anticipated a cut in the interest rates by the US Federal Reserve and that further pushed the prices higher for the white metal.
    • The rates dropped following that as investors embarked on a selling spree to hoard cash. The drop in the prices saw a kilogram of silver cost Rs.37,800 per kg on 19th March. The rise in the US dollar along with Coronavirus lingering over the global markets was said to be reason why investors sought to sell off their assets.
    • The US Federal Reserve announced some measures to absorb the impact of coronavirus on the economy. Owing to this, the silver prices increased over the next few days. However, with many countries going into lockdown to contain the spread of the virus, the rates remained stagnant for the last week and closed at Rs.40,500 per kg. The monthly performance of the metal witnessed a drop of –14.55%.

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

    Parameters Silver Price (per kg)
    February 1 Rate Rs.50,300 per kg
    February 29 Rate Rs.47,400 per kg
    Highest Rate in February Rs.52,900 per kg on 24 February
    Lowest Rate in February Rs.47,400 per kg on 29 February
    Overall Monthly Performance Decline
    Percentage Change -5.76%
    • The silver prices in Telangana was recorded to be Rs.50,300 per kg after investors decided to stay away from riskier assets and invest in Silver due to the outbreak of Corona Virus in China which severely impacted the global markets.
    • The silver prices were recorded to be the highest on 24 February after World Health Organisation declared Corona Virus to be a global epidemic and after reports emerged that the disease has spread to six other countries including China. The news negatively impacted the global growth and the market movements forcing traders to stay away from riskier assets and invest in silver which is a safe haven.
    • Silver saw its rate drop on 29 February at Rs.47,400 per kg as the outbreak of Corona Virus forced investors to liquidate their assets and stock on cash.
    • Silver had an overall downward trend in February at –5.76% as the outbreak of Corona Virus impacted the movement of global markets negatively.

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

    Parameters Silver Price (per kg)
    January 1 Rate Rs.50,300 per kg
    January 31 Rate Rs.50,200 per kg
    Highest Rate in January Rs.52,600 per kg on 8 January
    Lowest Rate in January Rs.49,200 per kg on 30 January
    Overall Monthly Performance Decline
    Percentage Change -0.19%
    • In Telangana, price of silver stood at Rs.50,300 per kg on the first day of the month of January. In comparison to December’s closing price, the rates of the white metal slipped by Rs.600.
    • There rates in comparison to the December’s closing price increased over the course of time with the white metal touching it highest value on 8 January and valued at Rs.52,600 per kilogram.
    • The rates slipped to Rs.49,200 per kg on 30 January which had already started fluctuating due to the outbreak of Corona Virus in China. Apart from that, weakening dollar, tensions in the Middle East, and concerns regarding the trade deal between China and U.S.A also played its part in the dropping of rates.
    • In Telangana, the precious metal closed the first month of 2020 at Rs.50,200 per kg after reducing to its lowest for the month 0n 30 January. The overall performance of the white metal in Telangana dipped by 0.19%, trending downwards.

    Silver as an investment

    Silver is a safe and affordable investment option for millions across Telangana. Its versatility combined with utility make it ideal for both new investors and seasoned veterans alike. Silver is the second most popular metal in the world, in terms of use, ensuring that there is a demand for it at all times, which make it highly liquid in times of a fund crunch. With a number of industries and job opportunities opening up in Telangana, there is more disposable income in the hands of the youth, income which might not be sufficient to purchase gold but plenty to buy silver. Buying silver in its physical form and through silver contracts remain two of the most popular modes of investment in the state.

    Physical silver – Physical silver has been around for centuries in Telangana, with silver jewellery, coins and bars being used widely. Jewellery continues to be the most popular form of silver investment in the state, with numerous designs and styles catering to different requirements. Intricate craftwork make these jewellery pieces popular across the globe, which mean that the demand for these would never die. Wastage and making charges could dilute a portion of the investment but buying silver jewellery could be smart if one intends to use it as an heirloom. Silver coins and bars, on the other hand, have no wastage charge and can be purchased purely as an investment. Banks and jewellers across Telangana cater to the needs of silver aficionados, with products for different budgets available.

    Silver contracts – Participating in silver trade through the market is new to most people in the country, with only those who are aware about market functioning opting for them in most cases. The National Commodity and Derivatives Exchange (NCDEX), Multi Commodity Exchange and National Multi Commodity Exchange offer platforms for enthusiasts to indulge in silver trade.

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