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Silver Price in Vijayawada
Often referred to as “poor man’s gold” silver also known as white precious metal is looked upon as a valuable and safe investment option across the country including Vijayawada in Andhra Pradesh. Over 60% of silver is bought in rural India. Vijayawada is a major trading and business hub in Andhra Pradesh and has gained more prominence after the bifurcation of the erstwhile united Andhra Pradesh. Silver is widely used in Vijayawada during festive occasions and is most prominent in the display of idols made of silver in addition to traditional silver plates used during various festivities. Silver rates in Vijayawada are influenced by various factors that have global implications. The city currently has a large buyer base for silver and related products.
Trend of Silver Rate in Vijayawada for September 2017 (rates per kg)
|Parameters||Silver price (per 1 kg)|
|Silver rate on 1st September 2017||Rs.40,390 per kg|
|Silver rate on 30th September||Rs.39,530 per kg|
|Highest Rate in September||Rs.41,900 per kg on 9 and 10 September|
|Lowest Rate in September||Rs.39,530 per kg on 28 to 30 September|
|Overall Monthly Performance||Decline|
September 2017- Week 1 (1st to 10th)
- Silver prices in Vijayawada were on the rise in the first week of September as industrial demand was steady, with the metal opening the week at Rs.40,390 per kg.
- There was no change in price for a while as local demand also began to rise due to a low U.S. dollar rate and favourable trends internationally.
- Stable geopolitical conditions as well as rising equity markets in Asia led to a reduction in demand for silver overseas, but domestic demand kept prices from falling.
- Silver instead rose, with the metal priced at Rs.41,075 per kg on 4 September before rising to Rs.41,495 per kg on 6 September.
- The launch of a nuclear capable missile by North Korea led to markets plunging and higher demand for bullion, with silver climbing to Rs.41,900 per kg on 9 & 10 September.
September 2017- Week 2 (11th to 17th)
- The second week saw a gradual reduction in demand as markets began to stabilise and the dollar also rebounded.
- Silver traded at Rs.41,075 per kg on 11 September, recording a sharp fall of Rs.825 per kg in trade due to weakened demand.
- Local demand dropped as the dollar strengthened, making imports of the metal more expensive.
- Overseas demand from Asian countries like China also reduced, as a rally by equity markets led to lower demand for the metal.
- Silver traded at Rs.40,890 per kg on 14 September, with the price remaining constant for the rest of the week.
September 2017- Week 3 (18th to 24th)
- Demand continued to fall in the third week of September as demand for silver in Vijayawada was muted due to rising import costs.
- The industrial metal traded at Rs.40,440 per kg on 18 September before falling to Rs.39,670 per kg on 19 September as demand from Europe also fell.
- A slight surge in price resulted in silver prices in Vijayawada rising to Rs.40,060 per kg on 20 September but prices dropped to Rs.39,670 per kg on 21 September.
- Fluctuations in the markets led to an increase in demand for silver, as prices rose to Rs.40,040 per kg from 22-24 September.
September 2017- Week 4 (25th to 30th)
- Fluctuations in the price of silver continued in the last week of September in Vijayawada as the dollar rate and markets were unsteady.
- Silver was priced at Rs.39,670 per kg on 25 September, a marginal drop in price recorded due to a decrease in demand over the weekend.
- Silver prices in in Vijayawada rose to Rs.40,520 per kg on 26 September as local demand rose due to favourable market conditions.
- The German election and victory of the incumbent Angela Merkel led to markets rising in Europe and the United States, leading to a drop in silver prices.
- The industrial metal dropped to Rs.39,530 per kg on 28 September, with the price remaining constant for the remainder of the week.
- Poor demand led to prices falling by 2.12% over the course of the month.
Trend of Silver Rate in Vijayawada for August 2017 (rates per kg)
|Parameters||Silver price (per 1 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|
August ‘17- Week 1 (1st to 6th)
- The start of August saw the price of silver trade at a stable rate due to steady demand from overseas industrial units as well as coin makers.
- The industrial metal began the trading week at Rs.38,925 per kg on 1 August, buoyed by high Asian demand.
- There was a drop in prices as the U.S. dollar began to recover from its earlier losses, prompting a reduction in demand from most overseas markets due to the rising cost associated with imports.
- SIlver rates in Vijayawada fell to Rs.37,965 per kg on 3 August, as local demand failed to stabilise the price.
- Continued fluctuations in the market also put off some investors, who awaited data from the U.S. jobs market before placing orders.
- Silver price in Vijayawada rose on 4 August, with the industrial metal trading at Rs.38,120 per kg. However sustained poor demand from local industry as well as a marginal rise in the dollar rate led to silver rates falling to Rs.37,235 per kg as the week ended on 6 August.
August ‘17- Week 2 (7th to 13th)
- The renewal of tensions in Europe was exacerbated by the resumption of Brexit talks, which worked in favour of silver as markets fell.
- Silver traded at Rs.38,295 per kg on 7 August before prices rose further, trading at Rs.38,345 per kg on 8 August thanks to fluctuating U.S. dollar rates as well as poor market trades.
- Poor than expected U.S. jobs data as well as geopolitical tensions following the unsuccessful repeal of Obamacare led to increased demand for gold and silver.
- Silver rate in Vijayawada was at Rs.39,530 per kg on 11 August, with no change in price recorded for the rest of the week.
August ‘17- Week 3 (14th to 20th)
- With steady demand from overseas, silver prices in Vijayawada did not see much change as the third week began.
- Silver traded at Rs.39,670 per kg on 14 August and remained constant for the next few days due to stable demand.
- A rally by local markets resulted in a drop in price, with silver falling to Rs.38,815 per kg on 16 August.
- Silver traded at Rs.39,530 per kg on 17 August before a drop in price due to fluctuations in demand led to the metal ending the week trading at Rs.39,115 per kg on 18 August.
- There was no change in silver price in Vijayawada as the week ended on 20 August.
August ‘17- Week 4 (21st to 27th)
- There was a rise in the price of silver in Vijayawada as demand rose around the middle of the week following increasingly volatile markets.
- The week began with silver priced at Rs.39,115 per kg on 21 August as the previous week’s silver rate kept prices from changing too drastically.
- Currency market fluctuations and the renewal of verbal hostilities between the United States and North Korea led to a rise in demand for commodities, as trading in bullion soared.
- Silver was priced at Rs.39,265 per kg on 22 August, before higher demand from coin makers and industrial units led to the prices rising to Rs.39,355 per kg on 24 August.
- The possibility of an escalation of war rhetoric and another missile test created panic on the bourses, which kept demand for silver high, though rates did not change very drastically.
- In fact, there was a drop in the price of silver, which traded at Rs.38,995 per kg on 25 August due to flagging trade on the commodity exchanges.
- Prices did not change for the rest of the week, even after the successful test of another long-range missile by North Korea.
August ‘17- Week 5 (28th to 31st)
- Silver prices in Vijayawada rose as the renewed demand for stable, safe-haven assets led investors and industry alike to silver.
- The white metal traded at Rs.39,435 per kg on 28 August, as demand from local industrial units also rose.
- As Hurricane Harvey wreaked havoc across the U.S. coast, markets also took a beating which paved the way for greater bullion demand.
- Silver rate in Vijayawada traded at Rs.40,190 per kg on 29 August, as demand from Europe and Asia increased due to low import rates resulting from a drop in the dollar value.
- Demand fell marginally as the month drew to a close, with silver recording a rate of Rs.40,040 per kg on 31 August for an overall increase of 2.86%.
Trend of Silver Rate in Vijayawada for July 2017 (rates per kilogram)
|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|
July 2017 - Week 1 (1st to 9th)
- Silver prices in Vijayawada were recorded at Rs.38,640 per kg on the 1st of July.
- Rates were unchanged on the 2nd due to sustained buying from domestic circles. The 3rd saw silver prices reach the monthly high figure of Rs.38,690 per kg as a result of the US dollar exchanging at near nine-month lows.
- With domestic trading remaining at a low, silver rates dropped on the 4th to trade at Rs.37,705 per kg before increasing slightly to Rs.37,800 due to positive cues.
- Due to a strengthening US dollar after an unexpected positive job data, silver prices dropped to Rs.37,115 per kg and continued at the same rate for the remainder of the week.
July 2017 - Week 2 (10th to 16th)
- On the 10th of July, silver hit a low figure of Rs.36,035 per kg - the lowest rate for the entire month.
- But, demand for the metal increased on the 11th as Trump family’s alleged connection with Russia held the market in a firm grip.
- Rates went up to Rs.36,270 per kg on the 11th and increased steadily from then on for the next two days.
- The white metal was seen trading at Rs.36,920 per kg on the 12th and the 13th as domestic investors were leveraging poor dollar performance to increase their silver inventory.
- With investors exercising caution on the 14th, silver prices went down to Rs.36,270 per kg before bouncing back to Rs.37,180 per kg on the 15th and the 16th.
- Rates increased significantly towards the end of this week as a subpar US economy pushed the demand for precious metals up.
July 2017 - Week 3 (17th to 23rd)
- Silver prices fluctuated considerably during the third week of July as demand reached saturation point with investors exhausting their short-term purchasing power.
- On the 17th, silver was priced at Rs.37,180 per kg, which then spiked to Rs.37,600 per kg on the 18th.
- The 19th as well maintained the positive growth with rates going up to Rs.37,705 per kg before a slowed down purchase brought rates down to Rs.37,600 per kg on the 20th.
- Investors, particularly those from industries and the jewellery segment, began purchasing silver more on the 21st, which led to the metal trading at Rs.37,800 per kg.
- During the last two days of the week, silver prices stabilised to hold at Rs.38,005 per kg.
July 2017 - Week 4 (24th to 31st)
- On the 24th, silver was trading at Rs.38,120 per kg due to subdued demand from industries and jewellers.
- Rates went up to Rs.38,230 per kg on the 25th before going down to Rs.38,120 per kg because various sections of investors were waiting for a price correction.
- Silver rates were on the ascent on the 27th with prices reaching as high as Rs.38,690 per kg but decline considerably over the last few days of the month.
- On the last day of July 2017, silver was trading at Rs.38,640 - the same rate as seen on the 1st of the month.
|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 June|
|Overall Monthly Performance||Decline|
June'17 - Week 1 (1st - 4th)
- When the month of June began, silver rates in Vijayawada started at Rs.40,285 per kg.
- But, due to a low industrial demand, prices fell to Rs.39,950 per kg on the 2nd of June.
- The 3rd saw silver prices increase to Rs.40,670 per kg - a Rs.720 increase - as bullion market saw some upturn in trading cues internationally.
- When the week came to an end on the 4th, silver price in Vijayawada were recorded at Rs.40,670 per kg, thanks to a sustained demand for the metal.
June '17 - Week 2 (5th - 11th)
- The second week of June started on the 5th with silver trading at Rs.40,670 per kg.Prices remained unchanged on the 6th as demand from local coin makers and industrial units remained stable.
- On the 7th, silver rates in Vijayawada reached a monthly high figure of Rs.40,890 per kg as tensions involving the US grew and bullion industry as a result saw demand pick up significantly.
- Silver prices decreased on the 7th to hit Rs.40,725 per kg and then went down to Rs.40,285 per kg on the 9th as demand fell after a brief surge.
- During the last two trading days of Jube, silver prices decreased further to Rs.40,060 per kg and remained there till the end of the week on the 11th.
June'17 - Week 3 (12th - 18th)
- Silver price in Vijayawada fell consistently during the third week of June demand for the metal fell amidst a strengthening dollar.
- On 12th, silver was trading at Rs.39,680 per kg, but decreased to Rs.39,435 per kg on the 13th due to falling demand.
- Silver prices went down on the 14th again to Rs.39,115 per kg but increased slightly to Rs.39,265 per kg on the 15th as offtake went up slightly.
- Silver price in Vijayawada returned to normal after an anomalous increase the previous day to end the 16th at Rs.38,995 per kg.
- During the last two days of June week 3 - the 17th and the 18th, silver prices remained at 38,460 per kg.
June '17 - Week 4 (19th - 25th)
- The fourth week of June started in Vijayawada with silver trading at Rs.38,640 per kg which was an increase of Rs.180 from the previous day’s prices.
- On the 20th, silver prices remained the same but decreased slightly to hit a monthly low of Rs.38,455 per kg - on the 21st of June.
- Rates increased in the city to Rs.38,460 per kg on the 22nd and gradually increased over the next few days as well.
- The 23rd saw silver rates hit Rs.38,690 per kg and then go up to to Rs.38,925 per kg on the 24th of June.
- When the week came to an end, silver rates in Vijayawada were recorded at Rs.38,925 per kg.
June'17 - Week 5 (26th - 30th)
- During the final week of June 2017, silver prices in Vijayawada fluctuated considerably due to a lack of sustained demand.
- When the week began on the 26th, silver was priced at Rs.38,925 per kg, which then went down to Rs.38,455 per kg on the 27th of June.
- The 28th saw price of silver in Vijayawada increases to Rs.39,115 per kg, which continued to remain the same on the 29th as well.
- On the last day of June 2017, silver prices fell marginally to reach Rs.38,995 per kg - marking a Rs.120 decline from the previous day’s rates.
- Silver rates in Vijayawada saw a change of -3.20% as a result of poor local demand and a relatively high-performing US economy and the dollar.
|Parameters||Silver Price in Vijayawada|
|May 1 Rate||Rs.40,040 per kg|
|May 31 Rate||Rs.40,060 per kg|
|Highest Rate in May||Rs.40,520 per kg on 30 May|
|Lowest Rate in May||Rs.37,705 per kg on 10 & 11 May|
May ’17 – Week 1 (1st to 7th)
- The price of silver in Vijayawada in the first week of May was on the decline as market forces and a stable U.S. Dollar led to a decrease in demand.
- Silver traded at Rs.40,040 per kg on 1 May but prices fell for the rest of the week, trading at Rs.38,925 per kg on 3 May.
- A decrease in overseas demand especially from Asia due to the high U.S. Dollar rate led to silver falling to Rs.37,965 per kg on 5 May.
- Local demand was also poor, as international trends and low industrial demand led to prices trading lower than expected.
- Silver ended the week trading at Rs.38,005 per kg on 7 May as prices recovered marginally.
May ’17 – Week 2 (8th to 14th)
- The second week saw the price of silver continue to trade lower than expected due to poor industrial demand and strengthening stock markets.
- Silver was priced at Rs.37,965 per kg on 8 May as positive trends saw the U.S. Dollar rise as the week began.
- Prices dipped to their lowest for the month, trading at Rs.37,705 per kg on 10 May due to stagnating demand both overseas as well in the domestic market.
- A slight rise in industrial demand led to prices rising marginally as silver traded at Rs.37,865 per kg on 12 May.
- The week ended with silver rising to Rs.38,005 per kg on 14 May.
May ’17- Week 3 (15th to 21st)
- A revival in prices was observed in the third week of May as the U.S. markets took a hit due to fears of the impact a new healthcare policy would have on the economy.
- Silver gained from the uncertainty as it rose to trade at Rs.38,230 per kg on 15 May in early trading.
- Prices rose for the rest of the week as domestic demand also increased on positive trends overseas, which pushed prices to Rs.38,995 per kg on 17 May.
- The U.S. Dollar dipped as the week progressed which led to an increase in the demand for bullion.
- Silver was priced at Rs.39,115 per kg on 21 May as demand from overseas boosted prices.
May ’17 – Week 4 (22nd to 28th)
- Prices fluctuated due to conflicting cues from the markets as Indian industry braced for the impact GST would have on their respective sectors.
- Silver was priced at Rs.39,265 per kg on 22 May and rose to Rs.40,040 per kg on 23 May due to increased demand from coin makers.
- Domestic demand also rose as industrial units increased orders, which led to silver trading at Rs.39,950 per kg on 25 May.
- Minor fluctuations in the price due to demand vagaries were observed but prices rose as the week ended, trading at Rs.40,190 per kg on 28 May.
May ’17 – Week 5 (29th to 31st)
- The last week of May saw prices stabilise as markets awaited the U.S. Federal Reserve meeting on the direction monetary policy would take.
- Silver traded at Rs.40,285 per kg on 29 May as prices dipped on account of a reduction in local demand.
- Prices bounced back and reached their highest rates for the month, trading at Rs.40,520 per kg on 30 May.
- A sharp decline in price led to silver ending the month trading at Rs.40,060 per kg on 31 May, though prices rose by 0.049% over the course of the month.
|April 1st Rate||Rs.42,570 per kg|
|April 30th Rate||Rs. 40,040 per kg|
|Highest Rate in April||Rs. 43,055 per kg on 15th & 16th April|
|Lowest Rate in April||Rs.40,040 per kg on 29th & 30th April|
April ’17- Week 1 (1st to 9th)
- Silver hit the market in the first week of April with stability. This continued all through the week except for certain minor fluctuations due to variations in demand.
- On April 1st, the first day of the week, prices stood at Rs.42,570 per kg. Silver rates remained the same on the following day as well because industrial demand stabilized.
- Rates dipped on 3rd April due to lower than expected US economic data results, inflation and US Federal Reserve developments. The price of silver was Rs.42,435, a fall by Rs.135 per kg from the earlier price of Rs.42,570.
- As prices increased in the next two days, there was a slight slump on 6th and 7th of April. The highest rate for the week was seen on 5th April when the price stood at Rs.42,775.
- The week ended with a price of Rs.42,640 per kg, remaining the same on the 8th and 9th of April as market forces maintained stability.
April ’17 – Week 2 (10th to 16th)
- Prices took a plunge and opened on a low note on 10th of April, standing firm at Rs.41,625 per kg. This is because of developments on various fronts, including a rise in US dollar rate even as political tensions continued to develop across the globe.
- As the week went by, the prices were affected by geopolitical factors involving US tensions with Russia and North Korea. This resulted in an increase in price of the precious white metal. Prices eventually reached their highest in the month during this week.
- On 12th April prices surged further to Rs.42,640 per kg as global political tensions prevailed and demand from the industrial sector increased. The next day, the price increased again to Rs.42,775 per kg, an increase of Rs.135 per kg.
- Influenced by growing tensions, prices peaked at their highest for the month on the 15th and 16th of April, standing at Rs.43,055 per kg.
April ’17 – Week 3 (17th to 23rd)
- Markets opened with wariness as the price of the precious metal opened on 17th April at Rs.43,030 per kg, a slump from the earlier month.
- Further into the week, there were many fluctuations in price due to the appreciation in the rupee rate and forthcoming elections in France.
- On 18th April there was a slight fall in price by Rs.355 per kg, standing at Rs.42,775 per kg. The price went down to Rs.42,435 per kg during the next day two days, giving people the opportunity to make purchases.
- During the next few days of the week, prices took a further hit. The week came to an end with prices standing at Rs.41,980 per kg on 23th April.
April ’17 – Week 4 (24th to 30th)
- Prices fell downward in the last week of April, reaching the lowest point in the month due to the presidential election results in France. This could have also been a major influencing factor in safe-haven buying.
- The week opened at Rs.41,625 per kg, a dip from the previous week. The prices dwindled continuously in the next few days.
- On 29th and 30th April, the prices stood at the lowest in the month at Rs.40.040 per kg.
|March 1st Rate||Rs. 43,970 per kg|
|March 31st Rate||Rs. 42,115 per kg|
|Highest Rate in March||Rs. 44,100 per kg on 2nd March|
|Lowest Rate in March||Rs. 40,040 per kg on 15th March|
March ‘17 - Week 1 (1st to 5th)
- Silver prices in Vijayawada were recorded at Rs.43,970 per kg on the 1st of March.
- An increase by Rs.130 on the second saw prices to rise to Rs.44,100 per kg, which was the highest rate of the metal recorded in March.
- Prices fell considerable on the 3rd of March owing to decline in demand from industrialists and coin makers in addition to international events that affected gold as well, and silver traded at Rs.42,730 per kg on that day.
- On the 4th of March, prices increased to Rs.43,295 as demand started to pick up, and they remained table for the following day as well to close the week at the aforementioned rate.
March ‘17 - Week 2 (6th to 12th)
- The price of silver on the opening day of the second week of March was Rs.42,925 – the same as the price on the closing day of the first week of the month.
- Prices dropped marginally on the next few days owing to decline in demand. They were recorded at Rs.42,570 per kg on the 7th of March, Rs.41,900 per kg on the 8th of March, and Rs.41,435 per kg on the 9th of March.
- A considerable decline on the 10th of March saw prices tumble to Rs.40,670 per kg, after which another decline saw rates drop to Rs.40,520 per kg on the 11th.
- Prices remained unchanged on the last day of the second week of March as demand remained stable and the value of the metal at the close of trading was Rs.40, 520 per kg.
March ’17- Week 3 (13th to 19th)
- The price of silver on the first day of the third week of March was Rs.40,760 per kg thanks to a small increase in demand.
- Prices fell by Rs.320 on the second day of the third week and were recorded at Rs.40,440 per kg.
- On the 15th of March, prices hit their lowest levels in the month as they touched Rs.40,040 per kg, after which an increase by Rs.850 saw them rise to Rs.40,890 per kg on the 16th.
- A minor decline on the 17th saw prices fall to Rs.40,815 per kg and rates remained stable for the next three days, closing the third week of March at Rs.40,815 per kg.
March ’17- Week 4 (20th to 26th)
- Silver opened the penultimate week of the month at Rs.41,075 per kg, marking a small incline from the closing levels of the previous week.
- Prices fell by Rs.350 on the 21st of March and were recorded at Rs.40,725 per kg.
- On the 22nd of the month, prices rose marginally and were recorded at Rs.41,230 per kg.
- Thanks to an increase in demand, silver closed the penultimate week of March on a strong note as rates rose to Rs.41,340 before rising again and closing the seven-day period at Rs.41,435 per kg.
March ’17 – Week 5 (27th to 31st)
- The price of silver on the first day of the last week of March was recorded at Rs.41,900 per kg.
- On the 28th of March, an increase by Rs.215 saw prices rise to Rs.42,115 per kg, and stable demand ensured that prices remained the same on the 29th of the month as well.
- Prices increased by Rs.320 on the penultimate day of the month to settle at Rs.42,435 per kg, and a decline by the same amount on the last day of the month saw the metal close March at Rs.42,115 per kg.
|February 1st Rate||Rs. 42,520 per kg|
|February 28th Rate||Rs. 44,165 per kg|
|Highest Rate in February||Rs. 44,165 per kg on 28th February|
|Lowest Rate in February||Rs. 42,115 per kg on 3rd February|
February ‘17 - Week 1 (1st to 5th)
- Price of silver in Vijayawada was relatively low during the first week of February due to relatively low demand from industrialists and coin makers.
- Silver traded at Rs.42,520per kg on 1st February and increased slightly the next day to trade at Rs.42,640 per kg.
- However, this rate was not maintained and rate of silver declined to Rs.42,115 per kg.
- This could mainly be attributed to the demand for silver from industrialists and coin makers. This rate was the lowest at which silver traded for the month of February.
- However, a slight recovery was witnessed in the rate of silver on the 4th with silver trading at Rs. 42,355 per kg. This rate was steady until the end of the week.
February ‘17 - Week 2 (6th to 12th)
- On the second week of the month, the price of silver opened at Rs.42,520 per kg which was a little higher than the rate seen during the previous week.
- Right after this, due to increased demand from jewellers and industrialists, the rate of silver jumped to trade at Rs.42,930 per kg.
- Price of silver was at Rs.42,920 per kg which was lesser by Rs.10 as compared to the price of the previous day.
- However, a minor recovery was noted in the price of silver on the 9th with this precious metal trading at Rs.42,950 per kg.
- Prices varied during the week, with silver trading at Rs.42,570 per kg on 11th February due to a sudden rise in demand. Silver was stable at this rate until the end of the week.
February ’17- Week 3 (13th to 19th)
- A slight variation in the rate of the U.S. dollar led to rise in the demand for silver with this metal trading at Rs.43,280 per kg on the first day of the third week of February.
- However, demand could not be sustained and the price of silver fell to Rs.43,030 again on the 14th. There was a marginal recovery noted in the price of silver on the 15th with the price being Rs.43,115 per kg.
- Rates increased to Rs.43,385 per kg on 16th February and later rose to Rs.43,520 per kg on 17th February due to a sudden drop in the value of the U.S. Dollar as a result of a projected drop in growth rates for the month.
- Local demand kept prices stable as demand fluctuated, trading at Rs.43,400 per kg on 18th February.
- At the end of the week, silver traded at Rs.43,400 per kg on 19th February, due to sustained demand, recording a rise of Rs.120 in the price of silver during the third week of February.
February ’17- Weeks 4 & 5 (20th to 28th)
- The rate of silver in the last two weeks of February fluctuated slightly due to U.S. Dollar rates and an unstable demand for this metal.
- Silver was priced at Rs.43,270 per kg on 20th February, with the price falling further to trade at Rs.43,240 per kg on 22nd February. Demand was slightly higher the next day as with silver trading at Rs.43,295 per kg.
- Silver prices rose to Rs.43,910 per kg on 25th February, with the price increasing to Rs.44,110 per kg on 27th February.
- Silver prices continued to rise as the month ended, trading at Rs.44,165 per kg on 28th February to record an overall increase of 3.68%. This was also the highest at which silver traded for the month of February.
|January 1st Rate||Rs.39,035 per kg|
|January 31st Rate||Rs.41,900 per kg|
|Highest Rate in January||Rs.42,010 per kg on 30th January|
|Lowest Rate in January||Rs.39,035 per kg on 1st January|
January ‘17 - Week 1 (1st to 7th)
- On the first day of January, silver traded at Rs.39,035 per kg which then steadily rose as the days progressed.
- Due to variations in U.S. dollar rate, the rate of silver rose to Rs.39,110 per gram.
- On the 4th of January, the rate of silver crossed the Rs.40,000 mark to trade at Rs.40,340 per kg.
- Rate of silver rose to Rs.40,520 per kg which was the highest at which silver traded at for the first week of January. However, this momentum could not be sustained and rates reduced to Rs.40,440 the next day.
- On the last day of the week, silver traded at Rs.40,390 per kg which was lower than the previous day but was nevertheless an indicator of an increase in the price of silver.
January ‘17 - Week 2 (8th to 14th)
- Silver prices continued to increase in the second week of January due to favourable market conditions and sustained demand.
- Silver was priced at Rs.40,390 per kg on 8th of January, price remaining consistent due to sustained demand for this metal.
- Price of silver rose to Rs.40,520 per kg the next day due to an increase in demand.
- Prices rose to Rs.40,760 per kg on 10th January as demand from Asian markets was high, silver rose to Rs.41,360 per kg on 11th January.
- Due to an increase in demand, silver traded at Rs.41,370 per kg on 12th January but reduced the following day to trade at Rs.41,230 per kg.
- Due to market conditions that were good and the harvest festival of Sankranthi, towards the 14th of January, the price of silver shot up to Rs.41,230 which was also the price of this precious metal the previous day and continued until 15th January.
January ’17- Week 3 (15th to 21st)
- At the beginning of the third week of the month, the price of silver was steady from the previous week due to sustained demand.
- Price of silver in the third week was relatively high and was on an upward streak with minor fluctuations.
- Silver was priced at Rs.41,340 per kg on 16th January and rose to Rs.41,625 per kg on 17th January.
- A minor drop in industrial demand led to silver trading at Rs.41,675 per kg on 20th January as the week ended with silver trading at Rs.41,930 per kg on 21st January.
January ’17- Weeks 4 & 5 (22nd to 31st)
- Silver rates in the last two weeks of January were quite stable due to consistent demand.
- Silver traded at Rs.41,930 per kg on 22nd January but decreased the next day to trade at Rs.41,860 per kg.
- Prices reduced marginally following the Lunar New Year, as silver was priced at Rs.41,955 per kg on 24th January.
- Silver prices fluctuated as the month ended, closing at Rs.41,900 per kg on 31st January to register a rise of 7.33%.
|December 1st Rate||Rs.40,450 per kg|
|December 31st Rate||Rs.39,035 per kg|
|Highest Rate in December||Rs.41,630 per kg on 8th December|
|Lowest Rate in December||Rs.38,700 per kg on 23rd December|
December '16 - Week 1 (1st to 4th)
- Silver was priced at Rs.40,450 per kg on 1st December in Vijayawada, with prices rising during the week.
- Domestic demand was steady, which kept prices constant.
- Increased demand from overseas led to prices rising, with silver trading at a high of Rs.41,070 per kg on 3rd December.
December '16 - Week 2 (5th to 11th)
- Silver prices continued to rise in the second week as a weakened U.S. Dollar led to higher demand for bullion.
- Silver was priced at Rs.41,055 per kg on 5th December, with the price dropping to Rs.40,820 per kg on 7th December due to fluctuations in demand.
- Demand from the domestic market was muted due to the ongoing currency shortage, which kept prices low.
- Silver ended the week trading at Rs.41,345 per kg on 11th December.
December '16 - Week 3 (12th to 18th)
- Prices began to drop in the third week as demand dropped due to a slowing down of industrial demand from overseas.
- Silver was priced at Rs.40,880 per kg on 12th December as stock markets performed well, which lowered demand for bullion.
- The U.S. Dollar also strengthened due to robust trading, making imports expensive, which led to reduced demand from the domestic market.
- Silver prices fell to Rs.39,305 per kg on 18th December on poor demand from both domestic as well as international markets.
December '16 – Week 4 (19th to 25th)
- As Christmas approached, bullion demand fell as markets were bullish, with an overall decline in demand recorded.
- Silver was priced at Rs.39,435 per kg on 19th December amid a slackening of domestic industrial demand.
- A perceived slowdown of Asian industry due to reduced silver demand led to domestic prices also falling, with silver trading at Rs.38,700 per kg on 23rd December.
- Prices recovered marginally to end the week at Rs.38,725 per kg on 25th December, though demand continued to be short of projections.
December '16 – Week 5 (26th to 31st)
- The last week of December saw prices fall marginally as demand failed to recover.
- Silver was priced at Rs.38,460 per kg on 26th December, as currency markets overseas made gains.
- Domestic markets increased demand marginally, with retail demand receiving a boost from festive shoppers.
- Silver rose to Rs.39,630 per kg on 30th December as markets took a turn for the worse, which prompted investments in bullion.
- Prices fell as the year ended, with silver trading at Rs.39,035 per kg on 31st December and registering a loss of over 3% in value.
|November 1st Rate||Rs.42,910 per kilogram|
|November 30th Rate||Rs.41,055 per kilogram|
|Highest Rate in November||Rs.44,960 per kilogram on 9th of November|
|Lowest Rate in November||Rs.40,190 per kilogram on the 25th of November|
November '16 - Week 1 (1st to 6th):
- At the beginning of the month on the 1st, silver traded at Rs.42,910 per kilogram.
- The next day on the 2nd, prices saw a significant increase as silver traded at Rs.44,385 per kilogram.
- The next two days on the 3rd and 4th too saw some fluctuations as silver traded at Rs.44,645 and 43,855 per kilogram respectively.
- Prices,however, stabilised during the last two days of the week as silver began to trade at Rs.44,180 per kilogram.
November '16 - Week 1 (7th to 13th):
- When the second week started on the 7th, silver prices fell slightly as the metal traded at Rs.43,685 per kilogram.
- On the 8th, prices increased slightly to hit Rs.43,855 per kilogram, a Rs.170 increase from the previous day.
- On the 9th prices hit Rs.44,960, the highest silver trading rate for the month and fell significantly at the end of the week to close at Rs.42,005 per kilogram.
November '16 - Week 3 (14th to 20th)
- The third week beginning on the 14th saw silver trade at Rs.41,760.
- However, as demonetization of Rs.500 and Rs.1,000 intensified, prices began to fall for the rest of the week.
- Courtesy of PM Modi’s assault on black money, silver prices ended at just Rs.40,735 per kilogram.
November '16 - Week 4 and 5 (21st to 30th)
- Silver traded at Rs.40,890 per kilogram on 21st November.
- Prices seemed to fluctuate this week as the nation faced a massive cash crunch.
- The lowest trading price of Rs.40,190 per kilogram was witnessed during the 25th of the month.
- Rates of silver increased towards the end of the week as demand picked up.
- Silver traded at Rs.41,055 per kilogram at the time of closing on 30th November.
- The month of November witnessed some heavy fluctuations due to demonetization efforts taken by the central government.
- Overall, silver prices in Vijayawada declined by about -4.32% for the month of November.
|October 1st Rate||Rs.45,900 per kg|
|October 31st Rate||Rs.43,035 per kg|
|Highest Rate in October||Rs.45,900 per kg on 1st and 2nd October|
|Lowest Rate in October||Rs.41,780 per kg on 15th and 16th October|
October ’16- Weeks 1 & 2 (1st-9th)
- The price of silver in Vijaywada was Rs.45,900 per kg on 1st October as demand was steady both domestically and internationally.
- Prices dropped as the week progressed due to a reduction in industrial demand due to strong markets and a strong U.S. Dollar.
- Silver rates fell sharply as the markets rallied towards the end of the week, with silver falling to Rs.41,685 per kg on 7th October.
- Silver ended the week at Rs.41,800 per kg, a decrease of Rs.4,100 per kg from the price at the start of the week.
October ’16- Week 3 (10th- 16th)
- The price of silver increased marginally during the week as domestic demand from jewellers rose.
- Silver traded at Rs.42,600 per kg on 10th October and stayed high as demand was fuelled by a falling market.
- Prices saw fluctuations as the markets made gains, with silver falling to Rs.41,435 per kg on 13th October.
- The price rose to Rs.41,780 per kg on 16th October, with silver prices falling by Rs.820 per kg from the price at the beginning of the week.
October ’16- Week 4 (17th-23rd)
- Demand for silver improved during the fourth week as U.S. markets reeled from poor economic data and a plunging U.S. Dollar.
- Silver was priced at Rs.41,970 per kg on 17th October, with the price rising marginally each day.
- Domestic demand rose due to increased buying, keeping price stable.
- Silver traded at Rs.42,130 per kg on 23rd October, recording an increase in price of Rs.160 per kg from the start of the week.
October ’16- Week 5 (24th-31st)
- Silver prices continued to be stable as demand was more or less constant.
- The price of silver was Rs.42,330 per kg on 24th October, with prices rising as U.S. markets fell due to uncertainty regarding the upcoming election.
- Silver prices rose on strong demand throughout the week as domestic markets took their cues from rising demand in the international market.
- Silver traded at Rs.43,035 per kg on 31st October, an increase of Rs.705 per kg on the price at the beginning of the month.
|1st Day||Rs.45,225 per kilogram|
|Last Day||Rs.45,750 per kilogram|
|Highest Price||Rs.47,820 per kilogram on 7th September|
|Lowest Price||Rs.45,225 per kilogram on 1st September|
September '16 - Week 1 (1st to 4th)
- Silver prices in Vijayawada increased gradually in the first week of September.
- The month opened at Rs.45,225 per kilogram which is also the lowest price for the entire month.
- As the week proceeded, the speculated about interest rate hike settled which led to increase in silver prices across the city.
- Silver closed at Rs.46,760 per kilogram.
September '16 - Week 2 (5th to 11th)
- Silver prices remained constant on the first day of week 2 and continued to trade at Rs.46,760 per kilogram.
- Silver prices increased on 07th of September due to constant demand from the local market and traded at Rs.47,820 per kilogram which is also the highest silver rate recorded for the month of September in Vijayawada.
- As the expected rate hike speculation picked up, silver rates drifted to Rs.47,015 per kilogram on 09th September before finally settling at Rs.46,835 per kilogram on 11th September, the last day of the week.
September '16 - Week 3 (12th to 18th)
- Silver prices did not see major changes this week.
- The week opened at Rs.45,715 per kilogram on 12th of September.
- The highest silver rate recorded for the week is Rs.45,840 per kilogram recorded on 16th of September.
- Following weak trend overseas, silver prices fell and closed at Rs.45,370 per kilogram on 18th of September.
September '16 - Week 4 (19th to 25th)
- Silver prices increased and traded at Rs.46,110 per kilogram on 19th of September.
- Silver prices displayed an overall increasing trend this week.
- Though silver rates dipped on 21st of September when it traded at Rs.46,190 per kilogram, it picked up quickly and touched Rs.47,535 per kilogram and remained constant for the next 2 days.
- Silver closed at Rs.47,535 per kilogram.
September '16 - Week 5 (26th to 30th)
- On the first day of the week, silver traded at Rs.46,950 per kilogram which is also the highest silver rate recorded for the week.
- As domestic demand dropped, silver prices fell on 28th of September and traded at Rs.45,600 per kilogram.
- Silver closed at Rs.45,750 per kilogram.
- The trend for this month was a 1.16% increase.
Trend of Silver Rate in Vijayawada for August 2016 (rates per kg)
|Highest Price||Rs.49,670 on 3rd August|
|Lowest Price||Rs.44,805 on 29th August|
August '16 – Weeks 1 (1st to 7th)
- Silver traded at Rs.49,430 per kilogram on 1st August, which was one of the highest rates for the month.
- Prices fluctuated with the highest at Rs.49,670 per kilogram on 3rd August. The fluctuations could be attributed to the fluctuations in the equities market.
- By the end of the week, prices reduced notably on account of positive U.S. economic data.
- Demand dropped in the global market leading to silver trading at Rs.47,255 per kilogram on 6th and 7th August.
August '16 – Week 2 (8th to 14th)
- Silver traded at Rs. 47,460 per kilogram and was seen climbing through the week with an increase in domestic demand.
- An increased offtake by coin makers and industrialist lended support to the metal.
- Silver traded steadily at Rs.47,750 by the end of the week.
August '16– Week 3 (15th to 21st)
- Silver prices were high at the beginning of the week trading at Rs.47,750 per kilogram.
- Prices rose to Rs.47,940 on 16th August but soon started to decline on account of reduced offtake by industrialists.
- The U.S. economic data indicated that it was gaining strength which led to a further decline in prices in the global market.
- Silver traded at Rs.46,690 per kilogram on 21st August.
August '16 – Week 4 (22nd to 28th)
- Silver rates dropped to Rs.45,800 per kilogram on 22nd August.
- Prices fluctuated through the week as the U.S. dollar gained strength.
- Demand in the domestic market remained stable with an increased offtake by jewellers, coin makers and industrialists.
- Overall, silver dropped to Rs.45,040 per kilogram by the end of the week.
August '16- Week 5 (29th to 31st)
- Silver traded at Rs.44,805 per kilogram on 29th August.
- Despite global trends indicating a drop in prices, silver rates in Vijayawada rose.
- Silver traded at Rs.45,460 per kilogram by 31st August, closing the month on a strong note.
|1st Day||Rs.46,490 per kg|
|Last Day||Rs.48,970 per kg|
|Highest Price||Rs.49,745 per kg on 11th July|
|Lowest Price||Rs.46,490 per kg on 1st July|
July'16 - Week 1 and 2 (1st to 10th)
- Silver opened at Rs.46,490 per kg on the first day of the month and this rate was also the lowest at which silver was priced in the month of July.
- There was a marginal increase in the price of silver the next day.
- On the 7th, price of silver was Rs.49,265 per kg, which was also the highest for the week.
- A minor decline was noted in the rate of silver after that to close at Rs.47,720 per kg on the 10th of July.
July'16 - Week 3 (11th to 17th)
- The highest price of silver was witnessed on the 11th, and this was Rs.49,745 per gram.
- Rate of silver however, declined after this marginally.
- There were a number of minor fluctuations noted in the price of silver throughout the week.
- On the final day of the week, silver was priced at Rs.48,840 per kg and continued declining steadily.
July '16 - Week 4 (18th to 24th)
- Price of silver was lower in the fourth week of the month as compared to the previous week although the difference in prices was quite low.
- This decline continued throughout the week with minor rises on certain days.
- The week closed with silver being priced at Rs.47,420 per kg which was one of the highest rates seen during this particular week.
July‘16 - Week 5 (25th to 31st)
- Silver rate reduced again following low demand from jewellers and coin makers as well as global cues.
- On the last day of the week however, price of silver picked up and cost Rs.48,970 per kg.
|June 1st Rate||Rs.38,640 per kg|
|June 30th Rate||Rs.44,635 per kg|
|Highest Rate in June||Rs.44,635 per kg on the 30th of June|
|Lowest Rate in June||Rs.38,640 per kg on the 1st of June|
June 2016 – Week One(June 1st to June 4th)
- Silver traded at Rs.38,640 per kg on the 1st of June.
- The rate of silver increased to Rs.38.865 on the 3rd of June due to heavy demand.
- Silver traded at Rs.39.755 per kg on the 4th of June.
Jun'16 - Week 2 (5th to 11th)
- Silver traded at Rs.39,755 per kg on the 5th of June.
- Price dropped down to Rs.39,585 per kg on the 8th of June.
- Silver traded at Rs.41,265 per kg on the 9th of June.
- Silver traded at Rs,41,510 per kg on the 11th of June.
Jun'16 - Week 3 (12th to 18th)
- Silver remained unchanged at Rs.41,510 on the 12th of June.
- Silver rose to Rs.41,935 per kg on the 13th of June.
- Silver hit the highest for the week on the 16th of June at Rs,42,985 per kg.
- Prices dropped down during the next two days as silver traded at Rs.42,235 per kg on the 18th of June.
Jun'16 - Week 4 (19th to 25th)
- Silver traded at Rs.42,235 per kg on the 18th of June.
- As demand increased, the price of silver increased to Rs.42,405 on the 21st of June.
- The price of silver further rose over the week and hit the highest for the week on the 24th of June at Rs.43,465 per kg.
Jun'16 - Week 5 (26th to 30th)
- Silver remained unchanged at Rs.43,465 per kg on the 25th and 26th of June.
- The price of silver dropped down to Rs.43,245 on the 28th of June owing to low demand in the domestic and global market.
- Silver closed the month at Rs.44,635 on the 30th of June.
|1st May rate||Rs. 42, 590|
|31st May rate||Rs. 39,065|
|Highest rate in May||Rs. 42, 675 on 2nd May|
|Lowest rate in May||Rs. 39,065 on 31st May|
May '16 - Weeks 1 and 2 (1st to 8th)
- Silver in Vijaywada traded at Rs. 42,590 per kg on the 1st of May and at Rs. 41,875 per kg on the 8th of May.
- The prices stayed more or less constant, with a slight dip in price due to lower demand towards the end of the week.
- Silver prices rose on the 2nd of May to Rs. 42,675 per kg, but fell in the subsequent days as demand normalised.
- The relatively weak Dollar and volatile markets contributed to the stable rate.
May '16 -Week 3 (9th to 15th)
- Silver prices in the third week of May continued to fall as the Dollar slowly strengthened.
- Silver traded at Rs. 41,725 per kg on the 9th of May and at Rs. 41,255 per kg on the 15th of May.
- While demand was stable, the rising value of the Dollar led to demand slackening, especially from international markets.
- The possibility of the U.S. Federal Reserve raising interest rates in the near future also resulted in an upswing in the stock markets, reducing the demand for silver.
May '16 - Week 4 (16th to 22nd)
- Silver prices fell for the fourth straight week as speculation of an increase in interest rates gained credence.
- Silver prices were Rs. 41,255 per kg on the 16th of May and Rs. 40,135 on the 22nd of May.
- Silver prices rose on the 18th of May as demand surged before the prices fell steadily towards the end of the week.
May '16 - Weeks 5 and 6 (23rd to 31st)
- Prices fell further as economic data from the U.S. indicated steady market growth, factors that would result in an interest rate increase.
- Silver traded at Rs. 40,060 per kg on the 23rd of May and at Rs. 39,065 on the 31st of May.
- As the Dollar continued to gain on other currency markets, demand for silver dropped.
- The positive data that showed the U.S. economy expanding also bolstered the stock market, leading investors away from buying bullion.
|April 1st Rate||Rs.36,780|
|April 30th Rate||Rs.42,590|
|Highest Rate in April||Rs.42,690 on the 29th of April|
|Lowest Rate in April||Rs.36,000 on the 4th of April|
|Overall Performance||Gain / Positive|
Apr'16 - Weeks 1 & 2 (1st to 10th)
- Silver rates were on the decline during the first four days of trading in April, after which they began picking up and maintaining consistency towards the end of the week.
- Prices were recorded at Rs.36,780 on the 1st of the month and Rs.36,620 on the tenth day of the month.
- Prices strolled towards stability towards the end of the week due to firming international and domestic cues in addition to increase in industrial demand and higher offtake.
Apr ‘16 - Week 3 (11th to 17th)
- Silver prices increased steadily during the third week of the month.
- Prices were recorded at Rs.37,115 on the 11th of April and Rs.39,110 by the end of the seven-day period.
- Prices were on the up by almost Rs.2000 over the third week of trading, marking a significant increase as domestic and global cues strengthened amidst an increase in industrial demand.
Apr ‘16 - Week 4 (18th to 24th)
- Silver rates fluctuated during the fourth week of April, but increased overall over the course of the week.
- Prices were recorded at Rs.38,920 on the first day of the week and Rs.41,155 on the last.
- Over the course of the week, prices jumped by more than Rs.2200, making the penultimate week of trading record the highest gains this month.
Apr ‘16 - Week 5 (25th to 30th)
- Silver rates increased for most parts of the week, with marginal losses on certain days constituting the order of the day.
- Prices were recorded at Rs.40,810 on the first day of the week and Rs.42,590 on the last day of the month.
- The last week of the month recorded the highest price of silver as international and domestic trends grew stronger.
|1st March rate||Rs.37,005|
|31st March rate||Rs.36,495|
|Highest rate in March||Rs.38,640 on 18th|
|Lowest rate in March||Rs.36,455 on 29th|
Mar'16 - Week 1 (1st to 6th)
- Silver was down at the start of March.
- Prices were Rs.37,005 on 1st and Rs.36,640 on 6th.
- There was no major changes in rates after 3rd when prices dropped to Rs.38,640 from Rs.37,710 on 2nd.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Silver gained some value in the 2nd week.
- Prices were Rs.37,695 on 7th and Rs.37,710 on 13th.
- Prices were mostly stable over the week but declined towards the end.
Mar'16 - Week 3 (14th to 20th)
- Silver prices appreciated some more in the 3rd week.
- Prices were Rs.37,650 on 14th and Rs.37,865 on 20th.
- Silver was trading at a high of Rs.38,640 on 18th but settled at Rs.37,865 by 20th.
Mar'16 - Week 4 (21st to 27th)
- Silver prices depreciated in the 4th week.
- Rates were Rs.37,930 on 21st and Rs.36,685 on 27th.
- Silver lost Rs.1,245 over the week.
Mar'16 - Week 5 (28th to 31st)
- There was a marginal drop in rates in the final week.
- Prices were Rs.36,570 on 28th and Rs.36,495 on 31st.
|1st February rate||Rs.34,970|
|29th February rate||Rs.36,295|
|Highest rate in February||Rs.38,640 on 12th|
|Lowest rate in February||Rs.34,970 on 1st|
Week 1 (1st to 7th)
- Silver appreciated in the first week of the month.
- Rates were Rs.34,970 on 1st and Rs.36,925 on 7th.
- Silver was up continuously over the week, ending Rs.1,955 higher than what it started the week at.
Week 2 (8th to 14th)
- Silver prices appreciated in the second week also.
- Rates were Rs.36,950 on 8th and Rs.38,525 on 14th.
- Silver rose to Rs.37,760 on 9th before falling to Rs.37,100 by 11th.
- Prices appreciated steeply on 12th to Rs.38,640 before settling at Rs.38,525 for the week.
Week 3 (15th to 21th)
- Silver was positive in the third week.
- Prices were Rs.37,220 on 15th and Rs.37,930 on 21st.
- Silver fluctuated in the 37,000s, rising to a high of Rs.37,980 on 19th and a low of Rs.37,405 on 16th.
Week 4 (22nd to 29th)
- Silver prices were down in the last week of the month.
- Rates were Rs.37,615 on 22nd and Rs.36,295 on 29th.
- Silver prices were down throughout the week, finally settling at Rs.36,295 by 29th.
4 th January rate
31 st January rate
Highest rate in January
Rs.35,565 on 28th
Lowest rate in January
Rs.33,295 on 13th
Jan '16 - Week 1 (4 th to 10 th )
Silver started 2016 on a positive note as prices rose in the 1st week.
Rates were Rs.33,230 on 4th and Rs.33,865 on 10th.
Silver rose continuously from 4th to 8th to touch a high of Rs.34,220 on 8th.
Prices declined marginally to Rs.33,865 by 10th to end the week on a positive note.
Jan '16 - Week 2 (11 th to 17 th )
Silver prices rose during the 2nd week.
Rates were Rs.33,750 on 11th and Rs.34,335 on 17th.
Silver prices were volatile in the week, falling to Rs.33,295 on 13th and rising to a high of Rs.34,225 from 15th to 17th.
Jan '16 - Week 3 (18 th to 24 th )
Silver had another positive run in the 3rd week.
Prices were Rs.34,115 on 18th and Rs.34,425 on 24th.
Silver had a volatile time in this week as prices touched a low of Rs.34,070 on 15th and a high of Rs.34,800 on 21st.
Jan '16 - Week 4 (25 th to 31 st )
Silver prices appreciated in the last week of January, ending the month on a positive note.
Rates were Rs.34,435 on 25th and Rs.34,930 on 31st.
Silver breached the 35,000-mark on 27th before rising to Rs.35,565 on 28th.
Silver settled around the 35,000-level for the remaining days to end the month at Rs.34,930.
|Highest rate in December||Rs.35,050 on 5th and 6th|
|Lowest rate in December||Rs.33,050 on 18th|
- Silver Rates appreciated in the 1st week of the month.
- Prices were Rs.34,050 on 1st and Rs.35,015 on 7th.
- Prices dropped to Rs.33,660 on 3rd but rallied to Rs.35,050 by 5th.
- Prices were stable on 6th before falling marginally to Rs.35,015 on 7th.
- Silver prices were lower in the 2nd week.
- Rates were Rs.34,415 on 8th and Rs.33,670 on 14th.
- Silver rates hovered around Rs.34,000 for the most part of the week before dropping by Rs.340 on 14th to settle at Rs.33,670.
- Silver rates were marginally up in the 3rd week.
- Prices were Rs.33,230 on 15th and Rs.33,900 on 21st.
- Silver was selling within the stable range of Rs.33,000 to Rs.34,000 all through the week.
- Silver prices were stable on the whole in the last days of December.
- It was priced at Rs.34,005 on 22nd and Rs.33,940 on 31st.
- Prices stayed upwards of Rs.34,000 till 28th before dropping to Rs.33,490 on 29th and again to Rs.33,405 on 31st.
|1st November rate||Rs.36,665|
|30th November rate||Rs.33,940|
|Highest rate in November||Rs.36,850 on 2nd|
|Lowest rate in November||Rs.33,725 on 23rd|
- Silver Rates depreciated in the 1st week of the month.
- Prices were Rs.36,675 on 1st and Rs.35,220 on 7th.
- Silver rose marginally to Rs.36,850 on 2nd but declined for the rest of the week to settle at Rs.35,220 on 7th.
- Prices were slightly higher on 6th at Rs.35,825 from previous day’s figure of Rs.35,820.
- Silver prices declined again in the 2nd week.
- Rates were Rs.35,220 on 8th and Rs.34,090 on 14th.
- Silver breached the 36,000 level on 9th when it was priced at Rs.26,265, however it could not maintain the gains and depreciated to Rs.34,090 by 14th.
- Silver rates dropped slightly in the 3rd week of November.
- Prices were Rs.34,090 on 15th and Rs.34,005 on 21st.
- Silver stayed within Rs.34,000 to Rs.34,100 for most of the week except on 16th and 18th when it was priced at Rs.34,485 and Rs.33,935 respectively.
- Silver prices were more or less stable last days of November.
- It was priced at Rs.34,005 on 22nd and Rs.33,940 on 30th.
- Silver went below 34,000 for the first time in the week on 23rd when it was priced at Rs.33,725, before rallying over the next 4 days to rest at Rs.34,310 by 27th.
- Silver was stable at Rs.34,090 on 28th and 29th and dropped by Rs.150 to Rs.33,940 on 30th.
Silver as an Investment in Vijayawada
Demand for silver plummets during deficient monsoon and during a strong equity market scenario. Owing to newer applications for silver such as in microcircuits and batteries, demand for silver is further expected to increase which could also affect the investment patterns of consumers. Silver can be used as a hedge against inflation in the long term but cannot be a hedge against recession in the short term, according to market experts.
Jewelry: Many consumers are buying silverware which has become trendy in addition to the traditional concept of gifting silver articles and jewelry pieces during auspicious occasions. South India including Vijayawada is a major market for the white metal as it is widely used to decorate idols of deities in addition to various utensils including tableware gifted during weddings and religious offerings.
Coins or bars: Depending on several factors such as storage capacity and resale options, you could opt for silver coins or bars. Some banks in India offer 24 Carat 99.99% pure silver bars with tamper-proof certicard packs and an assay certification. Silver bars are priced on the basis of international bullion market. Many private banks quote prices including customs duty charges and other charges as part of retailing.
ETFs: Silver exchange traded funds (ETFs) are not currently available in the country. However, investors can trade in silver ETFs in the US market. Investors can also buy stocks of reputed silver mining companies listed on the Nasdaq or Dow stock exchanges.
Where to Buy Silver in Vijayawada?
There are several big silver showrooms which offer pure Hallmarked silver such as Dhanya Jewellery, K R Jewellery Works, Anjaneya Jewellery, Sridevi Jewellers, Deepak Silvers, Khazana jewellery and Joyalukkas among many others.
Also Check Silver Price in NearBy Cities of Vijayawada
|Silver Rate In Visakhapatnam||Silver Rate In Chennai||Silver Rate In Bangalore|
|Silver Rate In Hyderabad||Silver Rate In Mysore|
|Also Know: Gold Rate in Vijayawada|
Read more on Silver
- Silver – Poor Man’s Gold
- Silver Bars and Silver Coins
- Amazing Facts About Silver
- Global Demand for Silver
- Are Long Term Silver Investments a Good Idea?