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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 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|
Trend of Silver Rate in Vijayawada 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|
Trend of Silver Rate in Vijayawada for December 2017 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver Rate on 1st December 2017||Rs.38,230 per kg|
|Silver Rate on 31st December 2017||Rs.39,265 per kg|
|Highest Rate in December||Rs.39,365 per kg on 30 and 31 December|
|Lowest Rate in December||Rs.36,545 per kg on 13 December|
|Overall Monthly Performance||Incline|
December 2017 - Week 1 (1st to 10th)
- The month opened in Vijayawada with the white metal trading at Rs.38,230 per kg on the 1st of December.
- The 2nd witnessed prices surging to Rs.38,815 per kg with demand for safe-haven assets rising amid the declining US dollar.
- Though silver rate in Vijayawada plunged to Rs.37,965 per kg on the 5th, prices soon rebounded to Rs.38,395 per kg on the 6th amid a strong demand from industries and coin manufacturers.
- However, the strengthening US dollar coupled with firmer equities markets led to silver rate in Vijayawada declining to Rs.37,235 per kg on the 7th.
- With the US dollar gaining a basket of other major emerging currencies coupled with poor trends overseas resulted in silver prices dropping further to Rs.36,620 per kg on the 8th.
- Thanks to a steady but subdued demand from industries and coin manufacturers, silver was recorded holding steady at Rs.36,715 per kg for the rest of the week.
December 2017 - Week 2 (11th to 17th)
- The second week, however, commenced with the industrial metal trading at Rs.36,920 per kg on the 11th owing to a marginal increase in domestic demand.
- The US dollar strengthened against other apex currencies ahead of the Federal Reserve’s monetary policy meeting due this week. This led to silver rate in Vijayawada plummeting to Rs.36,620 per kg on the 12th before hitting the lowest recorded monthly figure of Rs.36,545 per kg on the 13th amid the poor overseas trends.
- With investors speculating on the negative impact of the US tax bill on the country’s economy, the US dollar lost its ground. This led to silver prices rebounding to Rs.38,395 per kg on the 14th.
- The 15th witnessed rates dropping again to Rs.36,920 per kg with demand for the metal taking a hit amid the weak global cues.
- The white metal prices continued to remain unchanged at Rs.36,920 per kg until the end of the week amid the poor global trends.
December 2017 - Week 3 (18th to 24th)
- Silver was priced at Rs.38,395 per kg when the third week commenced on the 18th.
- However, the 19th saw silver rate in Vijayawada declining to Rs.37,600 per kg with the US dollar gaining against other major emerging currencies and the well-performing equities market.
- Silver prices fluctuated for much of the week due to the unevenly performing US dollar and vagaries in demand for the industrial metal.
- On the 20th, the white metal was recorded trading at Rs.39,395 per kg which plunged to Rs.37,705 per kg on the 21st with a steep decline in demand by industrial units and coin makers against the strong US dollar index.
- The next couple of days saw the metal prices varying significantly amid the uneven global cues that influenced demand for the industrial metal. Silver was priced at Rs.38,395 per kg on the 22nd before dropping to Rs.37,965 per kg on the 23rd.
- The week ended with the white metal prices stabilising at Rs.38,395 per kg on the 24th amid the positive trends overseas.
December 2017 - Week 4 (25th to 31st)
- The final week began with silver trading at Rs.38,395 per kg on the 25th.
- Though prices declined to Rs.38,005 per kg on the 26th, silver rates rebounded to Rs.38,275 per kg on the 27th with the US dollar losing its sheen amid the strong global cues.
- On the 29th, silver rate in Vijayawada were recorded at Rs.38,815 per kg which surged further to Rs.39,265 per kg on the 30th owing to a strong increase demand from industrial units and coin manufacturers.
- The last day of the year saw silver prices holding steady at Rs.39,265 per kg on the 31st due to strong investor sentiments for the industrial metal amid the positive trends overseas.
- Silver trade in Vijayawada witnessed an incline of 2.70% in prices during the course of the month due to the strong international cues that pushed demand higher for the metal.
Trend of Silver Rate in Vijayawada 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||Rs.40,520 per kg on 18 and 19 November|
|Lowest Rate in November||Rs.38,640 per kg on 30 November|
|Overall Monthly Performance||Decline|
November 2017- Week 1 (1st to 5th)
- Vijayawada’s silver price in Vijayawada fluctuated as the month began due to demand vagaries, with the white metal priced at Rs. Rs.38,995 per kg.
- Silver rate in Vijayawada was at Rs.39,950 per kg on 2 November after an increase in local demand following a rise in order volumes in anticipation of the festive and wedding seasons.
- Demand increased as commodity markets took advantage of the poorly-performing equity markets, which resulted in higher demand from both local as well as international industrial units.
- Silver traded at Rs.39,355 per kg on 4 November as prices remained constant till the week ended on 5 November.
November 2017- Week 2 (6 to 12)
- The week began with silver trading at Rs.39,355 per kg on 6 November due to steady demand from local industry.
- The price of silver increased as markets were volatile following news of the arrest of several top-ranking members of the Saudi Arabian leadership, with silver trading at Rs.40,040 per kg on 7 November.
- Local demand also rose as the U.S. dollar rate plunged, resulting in silver prices holding steady at Rs.40,040 per kg on 8 & 9 November.
- Demand dropped towards the middle of the week, with silver trading at Rs.39,970 per kg on 10 November.
- There was not much change in the price of silver in Vijayawada for the rest of the week, with the metal trading at Rs.39,970 per kg on 12 November.
November 2017- Week 3 (13th to 19th)
- The third week of November saw the price of silver in Vijayawada rise due to the continued political uncertainty in the Middle East following the sudden arrest of top officials.
- Silver opened the week at Rs.39,870 per kg on 13 November, with the price reflecting a slight drop due to reduced industrial demand.
- Silver price in Vijayawada rose as the week progressed due to fluctuations in the British equity markets due to the fallout from strained Brexit negotiations with the European Union, resulting in silver being priced at Rs.40,140 per kg on 14 November.
- Silver price in Vijayawada continued to rise, with the metal trading at Rs.40,240 per kg on 15 & 16 November as orders from Asia increased.
- Silver price in Vijayawada dropped to Rs.40,040 per kg on 17 November due to poor demand from overseas as equities recovered.
- Orders from coin makers also rose during this time, though prices did not see much of a change.
- Tensions with North Korea rose as the week ended, resulting in silver prices rising to Rs.40,520 per kg on 18 & 19 November.
November 2017- Week 4 (20th to 26th)
- The industrial metal opened the week at Rs.40,440 per kg on 20 November as markets performed well after the previous week’s rise in demand.
- Silver price in Vijayawada fell to Rs.Rs.39,780 per kg on 21 November due to a recovery by markets, which led to reduced industrial offtake due to higher costs.
- The decline in demand for silver in the international market also influenced local prices, with rates dropping to Rs.39,265 per kg on 22 November.
- Silver price in Vijayawada gained slightly towards the middle of the week, trading at Rs.40,060 per kg on 23 November after a rise in local demand.
- Tensions over North Korea’s nuclear capabilities and missile testing led to a fall across equity markets and a rise in demand for silver.
- The week ended with silver prices continuing to fluctuate, trading at Rs.39,780 per kg on 26 November.
November 2017- Week 5 (27th to 30th)
- The last week of November saw silver prices dip due to a steady drop in demand.
- Silver traded at Rs.39,780 per kg on 27 November due to static demand from industrial units and coin makers alike.
- Silver rate in Vijayawada dropped to Rs.39,680 per kg on 28 November as demand dropped following a market recovery.
- Prices continued to drop as silver traded at Rs.39,115 per kg on 29 November following the recovery of equity markets.
- Silver price in Vijayawada continued to drop as the month drew to a close as the metal traded at Rs.38,640 per kg on 30 November and recording an overall loss of 0.91% in value.
|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|
October 2017 - Week 1 (1st-8th):
- When trading commenced for the month, silver was priced at Rs.39,500 per kg on the 1st.
- Steady demand from coin manufacturers and industrial units led to prices remaining the same on the 2nd as well.
- However, Silver rate in Vijayawada declined over the next couple of days after the US dollar strengthened against other major emerging countries. This led to the white metal prices plunging to Rs.39,110 per kg - the lowest recorded monthly figure in Vijayawada.
- Thanks to an increased and steady industrial demand, Silver price in vijayawada surged to Rs.39,680 per kg on the 7th.
- The week concluded with the metal trading steady at Rs.39,680 per kg on the 8th.
October 2017 - Week 2 (9th-15th):
- Silver rate in Vijayawada were greatly influenced by strong global cues prevailing during the week.
- Silver was recorded trading at Rs.39,950 per kg when the week began on the 9th.
- Positive overseas trends over the next couple of days resulted in an increased domestic demand. This led to the metal being priced at Rs.40,060 per kg and Rs.40,285 per kg on the 10th and the 11th.
- With the festive season around the corner, local demand rose significantly. This led to silver price in Vijayawada rising to Rs.40,390 per kg on the 12th.
- Steady domestic demand coupled with positive global trends resulted in the white metal rates remaining untouched at Rs.40,390 per gram for the rest of the week.
October 2017 - Week 3 (16th-22nd):
- Silver was recorded trading at Rs.40,440 per kg - the highest recorded monthly figure - on the 16th on account of increased buying by industries and coin makers.
- But the strengthening US dollar amid weak global cues proved to be unfavourable for silver trade in the domestic market. This led to silver price in Vijayawada declining to Rs.40,060 per kg on the 18th.
- A further decline in domestic demand resulted in rates plunging to touch the lowest monthly figure of Rs.39,110 per kg again on the 19th.
- However, trading recovered with the imminent arrival of Diwali pushing local sales higher. This led to silver rate in Vijayawada surging to Rs.40,285 per kg on the 20th.
- The rest of week witnessed the metal being priced at Rs.40,060 per kg on account of a steady but subdued demand from coin manufacturers and industries.
October 2017 - Week 4 & Week 5 (23rd-31st):
- The final week witnessed silver price in Vijayawada fluctuating due to various global and domestic factors. When the week began, the white metal was recorded trading at Rs.40,040 per gram on the 23rd.
- A marginal increase in industrial demand for the metal the following day led to silver rate in Vijayawada rising to Rs.40,060 per kg.
- However, the 25th saw rates plummeting to Rs.39,780 per kg owing to strong dollar rates and firmer equities market.
- Prices plunged further to Rs.39,435 per kg on the 27th as the dollar strengthened further against a basket of major currencies amid strong global cues.
- The next couple of days witnessed the metal being priced as low as Rs.39,115 per kg after investors speculated over the possibility of an interest rate hike by the US central bank.
- Demand seemed to pick up due to positive overseas trends towards the end of the month. When the month concluded, silver was priced at Rs.39,435 per kg on the 31st.
|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.
|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%.
|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%.
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?