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- Also Check: Silver Rate in Lucknow
Silver Rate in Uttar Pradesh
Like in other parts of the country, the price of silver in Uttar Pradesh is dynamic and sees constant fluctuations. The change in the silver rate is seen due to a number of factors. Over the last few months, the price of the white metal in the state has seen a lot of fluctuations. The overall performance of the bullion has switched between incline and decline.
Also Check Silver Price In Cities of Uttar Pradesh
Factors Influencing the price of Silver in Uttar Pradesh
As mentioned above, constant change in the price of silver is witnessed due to a number of factors. Those are listed below:
- Price of gold
- Crude oil rates
- Fluctuations in demand
- Fluctuations in dollar price
- Inflation
- Geo-political reasons
- Government policies
- Mining, Import, and Storage costs
Also Check Silver Price in Top Cities
Trend of Silver Rate in Uttar Pradesh for April 2022 (rates per kg)
Parameters | Silver Price (per kg) |
April 1 Rate | Rs.71,700 per kg |
April 30 Rate | Rs.69,500 per kg |
Highest Rate in April | Rs.75,200 on 18 April |
Lowest Rate in April | Rs.68,800 per kg on 28 April and 29 April |
Overall Monthly Performance | Decline |
Percentage Change | -3.06% |
Trend of Silver Rate in Uttar Pradesh for March 2022 (rates per kg)
Parameters | Silver Price (per kg) |
March 1 Rate | Rs.70,000 per kg |
March 31 Rate | Rs.71,300 per kg |
Highest Rate in March | Rs.77,600 on 9 March |
Lowest Rate in March | Rs.70,000 per kg on 1 March |
Overall Monthly Performance | Incline |
Percentage Change | 1.85% |
Trend of Silver Rate in Uttar Pradesh for February 2022 (rates per kg)
Parameters | Silver Price (per kg) |
1 February Rate | Rs.65,300 per kg |
28 February Rate | Rs.70,100 per kg |
Highest Rate in February | Rs.70,600 per kg on 24 February |
Lowest Rate in February | Rs.64,900 per kg on 7 February |
Overall Monthly Performance | Incline |
Percentage Change | 7.35% |
Trend of Silver Rate in Uttar Pradesh for January 2022 (rates per kg)
Parameters | Silver Price (per kg) |
January 1 Rate | Rs.66,600 per kg |
January 31 Rate | Rs.65,400 per kg |
Highest Rate in January | Rs.69,300 on 21 January |
Lowest Rate in January | Rs.64,300 per kg on 10 January |
Overall Monthly Performance | Decline |
Percentage Change | -1.80% |
Trend of Silver Rate in Uttar Pradesh for December 2021 (rates per kg)
Parameters | Silver Price (per kg) |
December 1 Rate | Rs.66,300 per kg |
December 31 Rate | Rs.66,000 per kg |
Highest Rate in December | Rs.66,300 on 1, 28, and 29 December |
Lowest Rate in December | Rs.64,600 per kg on 15 December |
Overall Monthly Performance | Decline |
Percentage Change | -0.45% |
Trend of Silver Rate in Uttar Pradesh for November 2021 (rates per kg)
Parameters | Silver Price (per kg) |
November 1 Rate | Rs.68,700 per kg |
November 30 Rate | Rs.66,500 per kg |
Highest Rate in November | Rs.71,700 on 13 and 14 November |
Lowest Rate in November | Rs.66,500 per kg on 30 November |
Overall Monthly Performance | Decline |
Percentage Change | -3.20% |
Trend of Silver Rate in Uttar Pradesh for October 2021 (rates per kg)
Parameters | Silver Price (per kg) |
October 1 Rate | Rs.63,700 per kg |
October 31 Rate | Rs.68,900 per kg |
Highest Rate in October | Rs.70,300 on 25 October |
Lowest Rate in October | Rs.63,700 per kg on 1 October |
Overall Monthly Performance | Incline |
Percentage Change | 8.16% |
Silver Rate in Uttar Pradesh
Uttar Pradesh, the most populous state in India is an area filled with history and culture. The birthplace of several kingdoms, it is considered one of the most powerful states in India. Today, UP is home to over 200 million people, making it a hub of industries and commercial activities. Silver was and continues to be popular in UP, having been used for multiple purposes for centuries. Silver rates in the state depend on international prices, considering the fact that most of the silver consumed is imported, with fluctuations observed on a regular basis.
- Also Know: Gold Rate In Uttar Pradesh
Silver as an investment
Investing in silver is considered safe, primarily due to the fact that the demand for it hasn’t diminished over the years, and with limited production there is always scope for the white metal to grow. In Uttar Pradesh, silver is considered auspicious, thereby making it an investment option plus an integral part of their way of life. The fact that silver is cheaper than gold makes it affordable to the larger population, especially the middle and lower sections of society. Individuals keen on expanding their investment can choose from two options, physical silver and silver contracts/futures.
Physical silver – Physical silver, i.e. jewellery and coins/bars are the most popular mode of owning silver in UP. These can be purchased across the state, with jewellers catering to different budgetary requirements. Owning silver in this form is integral to the concept of family bonding, with items being passed from one generation to another, leaving behind a rich legacy. While most jewellery isn’t purchased with the intention of an investment, it can help one during fund crunch, offering liquidity. Silver coins and bars, however, are a smarter investment decision, thanks to their purity. Coins purchased from banks tend to be costlier on account of quality checks and purity assurance.
Silver contracts – Silver contracts are yet to gain popularity in Uttar Pradesh, with people viewing them as complicated offerings. In their nascent stage, one can indulge in silver trade through the National Multi Commodity Exchange, Multi Commodity Exchange and the National Commodity and Derivatives Exchange. Sound information about the functioning of these markets could help one gain immensely, whereas lack of awareness could put your investment at risk.
FAQs on Silver Rate in Uttar Pradesh
- Will the silver price increase in Uttar Pradesh in 2022?
- What is the trend of silver rate in Uttar Pradesh now?
Silver prices in India majorly depend on the international trend of the metal and other factors which can affect its price. In 2022, silver prices have showcased a fluctuating trend in the month of January
Silver prices have been showing a fluctuating trend in the market and currently stands at the rate of Rs.66,300 per kg. For the month of January 2022, the rates of silver showed constant inclines and declines due to the trend in the international market.