Silver Rate in Visakhapatnam

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

Silver Price in Visakhapatnam

Silver rates in Visakhapatnam depend on the demand, supply and use of the white precious metal in several domains such as industries, photography, jewelry, silverware and coins among others. Silver price patterns in Visakhapatnam are determined by jewelry and retail investment, robust industrial demand, and solar power expansion in addition to medicinal uses of silver among others.

Industry experts point out that production patterns and utilization of gold and silver differ which has an impact on the prices of the precious metals in the long term. Demand for silver shoots up if the government raises tariffs on gold imports. Also, local taxes, transportation costs besides additional costs by jewelry stores influence silver rates in Visakhapatnam.

Silver as an Investment

There are several pertinent factors to consider before investing in silver such as liquidity, storage and resale value in Visakhapatnam. Silver jewelry is more in demand in rural areas across the country whereas urban areas prefer investment in traditional silverware and coins in terms of investment, gift articles and as a status symbol.

Jewelry - Silver articles such as tableware and idols made of silver are much more in demand in Visakhapatnam in addition to gifting silver utensils during festive and auspicious occasions. However, silver jewelry is also gaining increasing popularity owing to aspirational and aesthetics-driven youngsters. Intriguingly, investment in silverware has been on a decline due to under-karating in the recent past.

Coins - Silver coins have intrinsic value or numismatic value, scarcity value and metal value, which largely depends on market demand and speculation. Coins are a solid investment in that you own real pure silver and not some paper backed by a bank.

ETFs - Silver exchange traded funds (ETFs) are not currently available in the country. Investors can nevertheless 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 Visakhapatnam?

There are several big silver showrooms which offer pure Hallmarked silver such as Khazana jewellery, Joyalukkas, Sri Kanakadurga Jewellers, Lalithambika Jewellers and GRT jewellers among many others. Daily fluctuation in silver prices is caused by short-term movements in the market which can be offset by long-term investors who can invest in silver and resell at lucrative rates.

Trend of Silver Rate in Visakhapatnam for April 2018 (rates per kg)

Parameters	Silver price (per kg)
April 1 Rate	Rs.41,400 per kg
April 30 Rate	Rs.42,300 per kg
Highest Rate in April	Rs.43,800 per kg on 20 and 22 April
Lowest Rate in April	Rs.41,000 per kg on 5 April
Overall Monthly Performance	Incline
Percentage Change	2.17%

Trend of Silver Rate in Visakhapatnam for March 2018 (rates per kg)

Parameters	Silver price (per kg)
March 1 Rate	Rs.41,100 per kg
March 31 Rate	Rs.41,400 per kg
Highest Rate in March	Rs.41,900 per kg on 7 March
Lowest Rate in March	Rs.41,000 per kg on 19 and 21 March
Overall Monthly Performance	Incline
Percentage Change	0.72%

Trend of Silver Rate in Visakhapatnam 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
Percentage Change	-3.28%

February 2018 - Week 1 (1st - 4th):

• When trading commenced in Visakhapatnam, silver prices were recorded holding at their highest recorded monthly figure of Rs.42,600 per kg on the 1st amid the weakened US dollar ahead of the US jobs data.
• Strong global cues coupled with an increased demand for the industrial metal led to silver price in Visakhapatnam remaining untouched at Rs.42,600 per kg on the 2nd.
• The dollar, however, regained lost ground the next day after the US employment data promised more jobs and higher salaries in the US. This led to silver rate in Visakhapatnam dropping to Rs.41,700 per kg on the 3rd.
• Despite the poor trend overseas, demand for the metal in the domestic market remained steady. This led to silver prices holding steady at Rs.41,700 per kg on the 4th.

February 2018 - Week 2 (5th - 11th):

• The second week commenced with silver trading at Rs.41,500 per kg on the 5th following a slight decline in industrial demand from the previous week amid weak global trends.
• The 6th saw silver price in Visakhapatnam surging to Rs.41,900 per kg before plummeting to Rs.41,400 per kg on the 7th after the US dollar index gained considerable ground against other major currencies in the world market.
• The strong dollar coupled with firmer equity markets led to a decline in prices and silver was recorded trading at Rs.40,800 per kg on the 8th.
• Silver rates rose to Rs.41,000 per kg on the 9th with local demand picking up despite the poor trends overseas.
• However, demand couldn’t keep up against the rising US dollar and equities market and silver rate in Visakhapatnam plunged to Rs.40,600 per kg - the lowest recorded monthly figure - on the 10th amid the weak global cues.
• When trading concluded for the week, the white metal prices were recorded holding steady at Rs.40,600 per kg on the 11th with poor domestic demand amid the strengthened US dollar and equities.

February 2018 - Week 3 (12th - 18th):

• Silver was recorded trading at Rs.40,900 per kg on the 12th when the week began with the US dollar weakening ahead of the US inflation data.
• With the US dollar losing against a basket of other emerging currencies ahead of the data release, silver prices rose to Rs.41,300 per kg on the 14th.
• Rates rose further to Rs.41,400 per kg the next day after the markets refrained from making purchases and awaited the inflation data for clues on the US interest rates hike during the year.
• The 15th saw silver price in Visakhapatnam rising to Rs.41,800 per kg after the US dollar index and equities lost in the international market with investors and traders buying safe-haven assets such as gold and silver to hedge against the US inflation concerns.
• Steady demand coupled with positive trends overseas resulted in silver being priced at Rs.41,700 per kg on the 16th.
• The rest of the week silver rate in Visakhapatnam holding steady at Rs.41,700 per kg with strong demand for the metal after the US dollar hit near three-year lows in the global trade.

February 2018 - Week 4 (19th - 25th):

• The week began in Visakhapatnam with the white metal trading at Rs.41,600 per kg on the 19th amid the strengthening US dollar.
• With the US dollar index recovering from the previous rally of losses, silver prices plummeted to Rs.41,200 per kg on the 20th.
• Silver price in Visakhapatnam remained untouched at Rs.41,200 per kg on the 21st before rebounding to Rs.41,400 per kg on the 22nd following an incline in domestic demand from coin makers and local industries.
• The 23rd saw silver rate in Visakhapatnam rising to Rs.41,600 per kg after the US dollar lost against other apex currencies amid inflation concerns.
• Steady demand coupled with firm trends overseas led to silver being priced at Rs.41,500 per kg on the 24th.
• The week came to an end with the industrial metal prices holding steady at Rs.41,500 per kg on the 25th amid positive trends overseas.

February 2018 - Week 5 (26th - 28th):

• The final week began with silver rate in Visakhapatnam priced relatively higher at Rs.41,600 per kg on the 26th with investors and traders refraining from making purchases ahead of the new Federal Reserve chairman’s first speech to the nation.
• With markets expecting clues on the pace of interest rate hike from the US Federal Reserve chairman Jerome Powell’s first congressional testimony, the US dollar lost against a basket of other emerging currencies. This led to silver price in Visakhapatnam surging to Rs.41,700 per kg on the 27th.
• The dollar, however, rose the next day after the Fed chairman vowed to improve the country’s economy while continuing to increase the interest rates as planned. This led to silver rates closing at Rs.41,200 per kg on the last day.
• The month witnessed silver rates in Visakhapatnam declining by 3.28% due to the poor trends overseas that pushed demand lower during the month.

Trend of Silver Rate in Visakhapatnam 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
Percentage Change	8.41%

January 2018 - Week 1 (1st - 7th)

• Silver prices in Visakhapatnam witnessed a steady rise in prices this week due to an increased demand from local coin makers and industrial units.
• When the month began, silver was priced at Rs.38,925 per kg, this rose to Rs.39,115 per kg on the 2nd as purchases increase.
• On the 3rd, silver price in Visakhapatnam fell very slightly to Rs.39,110 per kg, before going up marginally to Rs.39,115 per kg on the 4th.
• Silver rates in Visakhapatnam rose on the 5th to hit Rs.39,265 per kg as demand was on the rise - a considerably strong rise compared to sub par performance of the previous few days.
• This 6th and the 7th of January saw silver rates rise to Rs.39,355 per kg and hold on at this rate till the closing hours of the week.

January 2018 - Week 2 (8th - 14th)

• Silver was recorded trading at Rs.39,265 per kg when the second week of January began on the 8th.
• However, silver price in Visakhapatnam dropped to Rs.39,110 per kg on the 9th after equity markets strengthened amid a strong dollar index, causing demand to drop.
• Silver rates continued to hold at Rs.39,110 per kg levels over the next few days as demand from industrial units and coin manufacturers remained steady.
• Silver rates in the coastal city surged to Rs.39,265 per kg before rising further to Rs.39,355 per kg on the 13th as the US dollar seemed to weaken amid growing concerns in the US.
• Strong industrial demand coupled with a positive trend overseas led to silver rates continue at at Rs.39,355 per kg at the time of the week’s closing on the 14th of January.

January 2018 - Week 3 (15th - 21st)

• The third week of January started strongly due to a sudden burst in demand but rates fell as the week progressed and demand took a hit.
• SIlver was seen trading at Rs.39,680 per kg - a Rs.325 per kg incline - when trading commenced for the week.
• As mentioned above, rates seemed to be on the decline for much of the week after a strong start.
• Over the 16th and the 17th of January, silver rate in Visakhapatnam held on at Rs.39,670 per kg as demand seemed to drop amid poor sales.
• Prices took a hit again on the 18th and they went down to Rs.39,265 per kg as local investors backed out from purchases as the US dollar seemed to rally.
• At the time of closing, on the 21st, the white metal was seen trading at Rs.39,265 per kg.

January 2018 - Week 4 (22nd - 28th)

• Due to a lack of clear stimulus silver rates saw little change over the fourth week of January - following the same trend as the previous week.
• The week however, began strongly with the metal being priced at Rs.42,000 as markets opened for the week on the 22nd of January.
• Silver continued to trade at Rs.42,000 per kg on the 23th as demand from local investors was steady.
• The 24th saw prices change by Rs.200, which was evident with the Rs.42,200 per kg closing rate seen at the time of closing.
• Overnight trading positions towards the 25th of January pushed silver prices to surge to Rs.43,100 per kg.
• Silver rate in Visakhapatnam held on at Rs.43,100 per kg as demand from all investor circles - i.e., coin makers, jewellers, and industries remained flat.

January 2018 - Week 5 (29th - 31st)

• When trading began for the final week in January, silver was priced at Rs.42,700 per kg. This was also the highest gold rate for the month.
• Silver prices fell to Rs.42,200 per kg on the 30th - the second day of this week as the US dollar remained strong, thanks to a firm equity market.
• The 31st too saw silver rates continue at Rs.42,200 as the demand form the previous day continued to flourish.
• Price trends surged by 8.41% this month thanks to incredible demand from local industries and other investors.

Trend of Silver Rate in Visakhapatnam 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
Percentage Change	2.70%

December 2017 - Week 1 (1st to 10th)

• When trading commenced in Visakhapatnam, the industrial metal was priced at Rs.38,230 per kg on the 1st.
• Silver price in Visakhapatnam surged to Rs.38,815 per kg on the 2nd with the US dollar losing against a basket of other emerging currencies.
• The 5th witnessed silver rate in Visakhapatnam decline again to Rs.37,965 per kg before rebounding to Rs.38,395 per kg the next day with the dollar rising amid the firm equities.
• Demand remained low for much of the week against the strong US dollar index coupled with firm equity markets. This led to silver prices dropping as low as Rs.37,235 per kg on the 7th of December.
• Poor domestic demand coupled with unfavourable global trends led to silver rates in Visakhapatnam hitting Rs.36,620 per kg on the 8th.
• However, a steady but subdued local demand from industrial units and coin makers resulted in the industrial metal trading firm at Rs.36,715 per kg on for the remainder of the week.

December 2017 - Week 2 (11th to 17th)

• The second week opened with the white metal priced relatively higher at Rs.36,920 per kg on the 11th with a slight increase in industrial demand for the metal.
• The rise in demand, however, was short lived and silver price in Visakhapatnam plunged to Rs.36,620 per kg on the 12th before plummeting to a monthly low figure of Rs.36,545 per kg - the lowest recorded monthly figure - on the 13th.
• A downturn in US dollar fortunes with the dollar losing against a basket of other major currencies pushed demand higher for silver and the metal was trading at Rs.38,395 per kg on the 14th.
• The high demand, however, subsided with the dollar regaining lost ground and silver rates dropped to Rs.36,920 per kg on the 15th.
• When the week concluded silver rate in Visakhapatnam were holding steady at Rs.36,920 per kg on the 17th after the unevenly performing US dollar resulted in an increase in demand for the industrial metal.

December 2017 - Week 3 (18th to 24th)

• When the week began, the white metal was priced at Rs.38,395 per kg on the 18th of December.
• On the 19th, silver rate in Visakhapatnam plunged to Rs.37,600 per kg following a rise in the US dollar compounded by the poorly performing equities.
• Though prices rebounded to Rs.38,395 per kg on the 20th, the following day, witnessed silver rates plunging again to Rs.37,705 per kg owing to an unexpected decline in domestic demand from industries and coin manufacturers.
• Silver rates in Visakhapatnam rose to Rs.38,395 per kg on the 22nd before declining again to Rs.37,965 per kg the next day amid positive overseas trends.
• When the week concluded, the industrial metal was recorded trading at Rs.38,395 per kg, thanks to steady demand amid the positive global cues.

December 2017 - Week 4 (25th to 31st)

• When trading commenced for the week, silver was priced at Rs.38,395 per kg on the 25th. However, a poor demand from industries led to silver rates dropping to Rs.38,005 per kg on the 26th.
• Demand for the metal significantly rose during the week with the US dollar losing against other apex currencies. This led to the white metal being priced at Rs.38,275 per kg on the 27th.
• The 29th witnessed silver price in Visakhapatnam surging to Rs.38,815 per kg before rising further to Rs.39,265 per kg the next day.
• On the final day, silver traded at a monthly high figure of Rs.39,265 per kg, which was due to strong year-end investor sentiments.
• Visakhapatnam registered a incline of 2.70% in silver trade, thanks to the strong trend overseas that pushed demand higher for the industrial metal.

Trend of Silver Rate in Visakhapatnam 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 2017	Rs.40,520 per kg on 18 and 19 November
Lowest Rate in November 2017	Rs.38,640 per kg on 30 November
Overall Monthly Performance	Decline
Percentage Change	0.91%

November 2017 - Week 1 (1st to 5th)

• Silver rate in Visakhapatnam fluctuated during the first week owing to uneven global trends coupled with demand vagaries.
• The industrial metal was recorded trading at Rs.38,995 per kg when the week began.
• An increase in domestic demand ahead of the wedding season led to silver price in Visakhapatnam surging to Rs.39,950 per kg on the 2nd.
• Demand for the industrial metal remained steady with commodity markets having an edge over the poorly performing equity markets.
• Steady demand amid the positive trend overseas led to silver being priced at Rs.39,355 per kg on the 4th and the 5th.

November 2017 - Week 2 (6th to 12th)

• The week commenced with the white metal trading firm at Rs.39,355 per kg on the 6th, thanks to steady demand from the previous week’s gains.
• The news about the arrest of several diplomats and officials in Saudi Arabia broke out. This led to world markets collapsing and silver was recorded trading at Rs.40,040 per kg on the 7th due to an increase in safe-haven investments around the world.
• A weak dollar index coupled with poor equities resulted in an increase in domestic demand for the metal. This led to silver being priced at Rs.40,040 per kg on the 8th and the 9th.
• However, with the dollar recovering from the initial shock, demand declined during the week and silver rate in Visakhapatnam plunged to Rs.39,970 per kg on the 10th.
• Despite the poor trend overseas, prices remained untouched at Rs.39,970 per kg for the rest of the week owing to a subdued but steady demand from industries and coin makers.

November 2017 - Week 3 (13th to 19th)

• Silver trade in Visakhapatnam witnessed prices mostly influenced by the political crisis in the Middle East and the geopolitical tensions in the Korean peninsula during the week.
• The week opened with silver priced at Rs.39,870 per kg on the 13th.
• With equities market in the UK falling apart after failed negotiations over the Brexit, demand for safe-haven assets like silver surged. This led to rates rising to Rs.40,140 per kg on the 14th.
• An increase in order from the Asian continent led to the industrial metal being priced at Rs.40,240 per kg over the next couple of days.
• Though rates plunged to Rs.40,040 per kg on the 17th following a recovery by the equities market, the 18th witnessed silver rate in Visakhapatnam surging to Rs.40,520 per kg - the highest recorded monthly figure - as safe-haven investments skyrocketed globally due to the rising tensions with North Korea.
• The week concluded with the white metal trading high at Rs.40,520 per kg on the 19th.

November 2017 - Week 4 (20th to 26th)

• Silver was relatively lower at Rs.40,440 per kg on the 20th after markets began to stabilise from the previous week.
• With the US dollar and world markets recovering over the next couple of days, silver price dropped to Rs.39,780 per kg and Rs.29,265 per kg on the 21st and the 22nd respectively.
• However, prices rebounded to Rs.40,040 per kg on the 23rd following an increase in domestic demand from industries and coin makers.
• With tensions between the US and North Korea intensifying again, investors gravitated to investments considered safer.
• The week ended with silver rate in Visakhapatnam fluctuating and the industrial metal was recorded trading at Rs.39,780 per kg on the 26th.

November 2017 - Week 5 (27th to 30th)

• Demand for silver declined significantly amid the strengthening dollar and firm equity markets during the week.
• Silver opened at Rs.39,780 per kg on the 27th with steady demand from industrial units and coin manufacturers
• However, with world markets recovering amid a strong dollar index, silver price in Visakhapatnam plunged to Rs.39,680 per kg and Rs.39,115 per kg on the 28th and the 29th respectively.
• The month concluded with the industrial metal trading at Rs.38,640 per kg on the 30th. Visakhapatnam registered a loss of 0.91% in silver prices during the course of the month.

Trend of Silver Rate in Visakhapatnam for October 2017 (rates per kg)

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
Percentage Change	-0.24%

October 2017 - Week 1 (1st to 8th)

• The bullion’s price for the month of October opened at Rs.39,530 per kg and remained steady on the next day.
• Over the course of the week, the rates dropped due to the subdued demand from the buyers, retailers and jewellers.
• Amid the firm equity market and US dollar, the white metal’s price dropped to Rs.39,265 per kg on 3 October.
• Silver touched lowest on 5 october, trading at Rs.39,110 per kg, due to dip in the local demand.
• The week ended with silver price in Visakhapatnam at Rs.39,680 per kg due to a steady demand overseas.

October 2017 - Week 2 (9th to 15th)

• Silver trading in Visakhapatnam started at Rs.39,950 per Kg in the second week of October.
• Demand began to rise ahead of the festive season and traded the silver at Rs.40,060 per kg.
• Prices went up across the entire week, and was traded more or less at the same rate. On 12 and 13 October, the metal’s price was stable at Rs.40,390 per kg.
• The silver’s demand ramped up as the geopolitical tension between US and North korea was rising exponentially. On the last two day of the week, the silver remained stable due to the poor US job data.

October 2017 - Week 3 (16th to 22nd)

• Silver opened at the highest rate on the third week of October and traded at Rs.40,440 per kg. The abundant demand of silver pre-diwali also fueled the silver’s price.
• The bullion’s price fell steeply as the week progressed due to the weak global cues and was priced Rs.40,285 per kg on 17 October, before it touched Rs.39,110 per kg on 19 October.
• This was the lowest price that was mostly due to the fall in the demand after the festive season.
• As the week drew to a close, the price remained stable at Rs.40,060 per kg due to the plummeting US dollar and equities. The rising political instability in Europe increased the appeal of the safe haven.

October 2017 - Week 4 & Week 5 (23rd to 31st)

• Silver continued at the same price, similar to the last week as there were no major fluctuation over the weekend.
• On 25 October, the silver price started dropping and touched Rs.39,780 per kg due to the subdued demand from the industry.
• Silver price in Visakhapatnam fell to Rs. 39,435 per kg as the US dollar strengthened, over the weeks. This dropped the MCX silver futures rate by 0.32%.
• The bullion’s price, towards the later part of the month, dropped to Rs.39,115 per kg and was stable for the next two days.
• As the week was about to end, silver pulled eyes and was priced Rs.39,435 per kg. The rising volatility of gold’s rate along with the poorly performing stocks together inched up the silver’s demand.

Trend of Silver Rate in Visakhapatnam for September 2017 (rates per kg)

Parameters	Silver price (per 1 kg)
Silver rate on 1st September	Rs.40,390 per kg
Silver rate on 30th September	Rs.39,530 per kg
Highest Rate in September	Rs.40,900 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
Percentage Change	-2.12%

September 2017 - Week 1 (1st - 10th)

• The month of September endured a rather torrid period for silver sales in Visakhapatnam, despite the metal trading at a relatively high price in the initial weeks.
• On the 1st of September, silver was priced at Rs.40,390 and continued at the same rate till the closing hours of the 3rd.
• Silver rates in Visakhapatnam surged significantly to Rs.41,075 per kg on the 4th because of an increase in safe-haven demand in the US. This consequently pushed silver rates up in various cities in the country.
• As investors zeroed in on the metal to balance out the economic fall out, silver rates surged again to Rs.41,230 per kg on the 5th.
• Another day’s price surge later, silver prices in in Visakhapatnam fell to Rs.41,230 per kg after the US dollar began showing signs of recovery.
• But, North Korea’s open admission about its latest nuclear test pushed silver rates back on an upward trajectory.
• By the time the week ended, silver rates had gone up to Rs.41,900 per kg - which was the metal’s highest rate this month.

September 2017 - Week 2 (11st - 17th)

• This week saw silver prices in Visakhapatnam fall back to its decent levels after the impact of US - North Korea conflict seemed to fade.
• On the 11th, silver was trading at Rs.41,075 per kg, before falling to Rs.41,030 per kg on the 12th.
• Silver rates in Visakhapatnam went down to Rs.40,890 per kg on the 14th as industrial demand tanked as US dollar value picked up gradually.
• Till the 17th of this month, silver rates in Visakhapatnam remained at Rs.40,890 per kg and the week’s trading session drew to a close.

September 2017 - Week 3 (18th - 24th)

• The third week began on a relatively weaker note with the metal trading at Rs.40,440 per kg - a Rs.450 decline from the previous day’s closing rates.
• Prices fell again - this time by Rs.770 per kg - to trade at Rs.39,670 per kg on the 19th of the month.
• The 20th saw silver rates in Visakhapatnam go up marginally to Rs.40,060 per kg before falling back to Rs.39,670 per kg on the 21st of September.
• On the 22nd, silver rates in Visakhapatnam went up on the account of increased buying from jewellers - who stocked up to meet the upcoming festive demand.
• Silver was trading at Rs.40,040 per kg on this day and continued at the same rate till the closing hours of the week.

September 2017 - Week 4 (25th - 30th)

• The last week of September saw silver rates remain steady before one of the initial days saw prices rise considerably.
• On the 25th of September, the white metal was trading at Rs.39,670 per kg - a Rs.370 decline from the prices seen on the 24th of the month.
• With demand for the Dussehra season rising, and with jewellers and coin makers scaling up their purchases - silver rates went up to Rs.40,520 per kg on the 25th of September.
• However, this spike in demand was a one-time event, which led to prices falling on the 26th to Rs.39,780 per kg.
• After demand consolidated in the city, silver rates went down again on the 27th to Rs.39,530 per kg, which continued till the closing hours of the 30th.
• Despite the rise in demand towards the end of the month, silver prices in Visakhapatnam declined by 2.12% this month.

Trend of Silver Rate in Visakhapatnam for August 2017 (rate per kg)

Parameters	Silver price (per kg)
Silver Rate in 1st August	Rs.38,925 per kg
Silver Rate in 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
Percentage Change	2.86%

August 2017 - Week 1 (1st-6th)

• The month started off with silver trading at Rs.38,925 per kg on the 1st.
• Following a decline in industrial demand, the silver prices in Visakhapatnam dropped to Rs.38,455 per kg on the 2nd.
• Decline of the US dollar coupled with foreign trade sessions led to silver markets dropping further to Rs.37,965 per kg on the 3rd.
• On the 4th, employment data from the US employment markets directly affected the US dollar due to which silver prices rose to Rs.38,455 per kg.
• However, the silver rate in Visakhapatnam dropped to a monthly low figure of Rs.37,235 per kg on the 5th as investors backed from making purchases.
• The white metal prices remained at Rs.37,235 per kg on the 6th as purchases dropped.

August 2017 - Week 2 (7-13):

• The second week of August witnessed fluctuations in silver trade when the week began before gradually increasing towards the end.
• The white metal traded at Rs.37,295 per kg on the 7th, which further rose to Rs.38,345 per kg on the 8th as industries began to stock their inventories.
• Silver price in Visakhapatnam dropped to Rs.37,965 per kg on the 9th as demand from investors and coin makers dropped.
• Following the collapse of the US economy, industries ramped up their purchases, subsequently raising the silver rates.
• Silver traded at Rs.38,925 per kg on the 10th, which surged again to Rs.39,530 per kg on the 11th in the aftermath rising tensions between the US and North Korea.
• The week ended with silver trading at Rs.39,670 per kg on the 13th owing to steady demand from investors and retailers.

August 2017 - Week 3 (14th-20th)

• On the 14th, silver traded at Rs.39,670 per kg due to steady investments made by dealers spread throughout the city.
• Silver rate in Visakhapatnam dropped to Rs.38,815 per kg on the 16th as a result of reduced demand from industries and coin makers globally.
• The 17th witnessed silver price in Visakhapatnam surge back to Rs.39,530 per kg before falling to Rs.39,115 soon after the US dollar recovered.
• Following steady demand from investors, the white metal traded at Rs.39,115 per kg for rest of the week.

August 2017 - Week 4 (21st-27th)

• The fourth week witnessed an initial incline in silver price in Visakhapatnam towards the end of week owing to recovery of the US dollar.
• The week began with silver trading at Rs.39,115 per kg on the 21st following steady industrial demand.
• With consistent purchases made by industries and retailers, the white metal was traded at Rs.39,265 per kg on the 22nd and the 23rd.
• Silver price in Visakhapatnam were raised further to Rs.39,355 per kg on 24th before dropping to Rs.38,995 per kg on the 25th as demand for the metal declined globally.
• The white metal traded at Rs.38,995 for rest of the week, thanks to steady local demand.

August 2017 - Week 5 (28th-31st)

• The last week of August witnessed a considerable increase in silver price in Visakhapatnam throughout the week.
• Silver traded at Rs.39,435 on the 28th with the US- North Korea conflict heating up.
• With purchases spiked up by jewellers and retailers to meet local demand, silver rates touched a monthly high figure of Rs.40,190 per kg on the 29th which continued on to the 30th.
• The last day saw silver trading at Rs.40,040 per kg.
• Overall, the month witnessed an incline of 2.86% in silver trade.

Trend of Silver Rate in Visakhapatnam for July 2017 (rates per kilogram)

Parameters	Silver price
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
Percentage Change	0%

July 2017 - Week 1 (1st to 9th)

• Silver prices in Visakhapatnam started for the month of July at Rs.38,640 per kg.
• Due to sustained buying from domestic jewellers and industrial units, rates remained unchanged on the 2nd.
• The 3rd witnessed silver prices hit a monthly high figure of Rs.38,690 per kg. This development was due to a poor performance on the part of the US dollar, which had reached near nine-month low figures.
• Silver prices fell to Rs.37,705 per kg on the 4th before going up to Rs.37,800 as strong international demand led to a hike in local trading prices.
• Rates sustained at Rs.37,115 per kg towards the end of the week as a positive US job data pushed dollar exchange values up considerably.

July 2017 - Week 2 (10th to 16th)

• The 10th of July saw silver trade at Rs.36,035 per kg - the lowest rate for the month - as US markets strengthened amidst a positive outlook.
• Rates, however, increased from the 11th onwards as media reports were ripe with claims that US President Trump’s family had colluded with Russia to win the election.
• The 12th again led to prices increase as US dollar tanked, which subsequently led to increased buying in the local market.
• Silver prices in Visakhapatnam were holding at Rs.36,920 per kg on the 12th and 13th as investors decided to use the situation to their advantage.
• On the 14th, prices dipped to Rs.36,270 per kg as demand seemed to reach saturation levels.
• That notion, though, was short lived as purchases ramped up on the 15th to drive prices up to Rs.37,180 per kg as US economic data was headed for a fall.

July 2017 - Week 3 (17th to 23rd)

• On the 17th, when the third week began, 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)

• The final week’s trading began with silver 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.
• The month ended with the white metal trading at Rs.38,640 per kg. Overall, price trends in the port city of Vizag saw a 0% change as prices picked up towards the latter half of the month after a fall during the initial days of the month.

Silver Price Trends in Visakhapatnam

One gram of silver is currently pegged at Rs. 39.70 in Visakhapatnam. Silver rates in Visakhapatnam have been plummeting in the past few weeks in that one gram of silver was pegged at Rs. 41.10 in the month of May. Silver rates have been fluctuating in Visakhapatnam in line with global prices and domestic demand and investment patterns. One gram of silver was pegged at Rs. 41.10 in the month of April and Rs. 41.80, Rs. 40.20 and Rs. 42 in the months of March, February and January respectively this year.

Also Check Silver Price in NearBy Cities of Visakhapatnam

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Also Know: Gold Rate in Visakhapatnam