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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 December 2016 (rates per kg)
|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?