*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 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 Pune 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 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|
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|
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|
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|
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|
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)
|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 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.
|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)
- Silver in Visakhapatnam started trading at Rs.40,285 per kg when June began
- Prices declined to Rs.39,950 per kg on the 2nd of June due to a lack of demand from the industrial sections of the city.
- Silver rate in Visakhapatnam increased by Rs.720 per kg on the 3rd to bring rates up to Rs.40,670 per kg, courtesy of positive trading cues globally,
- On the last day of June week 1, silver was trading at Rs.40,670 per kg, as demand from various circles in Visakhapatnam remained stable.
June '17 - Week 2 (5th - 11th)
- On the 5th of June, when trading started for the second week, silver was trading at Rs.40,670 per kg.
- After remaining unchanged on the 6th, silver rates went up to a monthly high of Rs.40,890 per kg. This was mostly due to safe haven buying as a new Donald Trump controversy unraveled.
- Silver rate in Visakhapatnam fell to Rs.40,725 per kg on the 7th and then went down to Rs.40,285 per kg by the end of the 9th as investors had already made their fair share of investing for the week.
- Silver prices went down further to Rs.40,060 per kg and remained there till the end of the week on the 11th, as a positive US job data led to stock markets strengthening.
June'17 - Week 3 (12th - 18th)
- The third week of silver trading in Visakhapatnam was a different scene altogether as rates falling became a recurrent theme.
- When the week began on the 12th, silver prices were recorded at Rs.39,680 per kg.
- As demand fell amidst a rallying US dollar, silver prices went down to Rs.39,435 per kg on the 13th of June.
- Rates went down the next day as well Rs.39,115 per kg before going up marginally to Rs.39,265 per kg on the 15th.
- Over the 17th and 18th of June, silver prices remained at 38,460 per kg. This was because investors remained wary about investing in the white metal.
June '17 - Week 4 (19th - 25th)
- The fourth week of June began in Visakhapatnam with the white metal selling at Rs.38,640 per kg - a Rs.180 increase from the previous day’s prices.
- Silver prices remained the same on the 20th as well decreasing going down to a monthly low figure of Rs.38,455 per kg - on the 21st of June.
- Rates increased in the port city to Rs.38,460 per kg on the 22nd and gradually increased over the next few days as well.
- As the strength of the dollar subsided and normal services resumed, silver prices increased consistently.
- When the week came to an end, silver rates in Visakhapatnam were recorded at Rs.38,925 per kg.
June'17 - Week 5 (26th - 30th)
- When the final week commenced 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 prices increase 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.
- Price trends took a significant fall of 3.20% for the month as a result of poor local demand, which was in turn brought about by a strong US dollar performance.
|May 1st Rate||Rs.40,040 per kg|
|May 31st Rate||Rs.40,060 per kg|
|Highest Rate in May||Rs.40,520 per kg on 30th of May|
|Lowest Rate in May||Rs.37,705per kg on the 10th and 11th May|
May ’17 – Week 1 (1st – 7th)
- Silver opened at Rs.40,040 per kg on the first day of the month of May in Visakhapatnam. However this rate could not be sustained due a fall in demand and other factors.
- Due to Asian equities, there was a fall in the demand for safe-haven bullion. Because of this, the rate of silver was reduced quite a bit. Additionally, the U.S. Dollar gained in comparison to the Japanese Yen which is resulted in a further decrease in silver rate.
- Silver was priced at Rs.39,115 per kg on the second day of the month but reduced the next day to trade at Rs.38,925 per kg on the 3rd of May.
- As the demand for silver continued to fall and the value of the U.S. Dollar increased, the price of silver fell to Rs.37,965 per kg on the 5th. This was also the lowest rate at which silver was priced for the week.
- Silver was priced at Rs.38,005 per kg the next day, denoting a marginal recovery. This rate was noted on the last day of the first week as well due to low but sustained demand for this metal.
May ’17 – Week 2 (8th – 14th)
- With the strengthening of the euro after Emmanuel Macron’s win in the French Presidential election, the rate of silver varied during the second week of the month.
- Silver was priced at Rs.37,965 per kg on the 8th of May and fell slightly on the 9th to trade at Rs.37,865 per kg due to varying demand for this metal.
- As the week continued, the price of silver continued to reduce as there was a decline for this precious metal from coin makers in international markets.
- Silver was priced at Rs.37,705 per kg on the 10th and 11th of May. This was also the lowest at which silver was priced for the month of May in Visakhapatnam.
- Silver at Rs.37,865 per kg on the last day of the second week of May as there was a slightly higher demand for this metal.
May ’17- Week 3 (15th – 21st)
- As the value of the U.S. Dollar reduced during the third week of May, the rate of silver increased.
- Silver was priced at Rs.38,230 per kg on the 15th of May before increasing to be priced at Rs.38,640 per kg on the 16th of the month.
- After weak manufacturing data from the U.S., reduced expectations of an interest rate hike by the U.S. Fed, the rate of silver inched higher.
- Silver traded at Rs.38,995 per kg on the 17th of May and increased to Rs.39,265 per kg on the 18th.
- As the demand for silver started to rise, the price of this metal increased to trade at Rs.39,115 per kg.
May ’17 – Week 4 (22nd – 28th)
- There were a number of fluctuations noted in the rate of this metal during the penultimate week of the month in Visakhapatnam.
- Silver traded at Rs.39,265 per kg on the 22nd of May before increasing to trade at Rs.40,040 per kg on the 23rd of May.
- As Asian stocks gained, the price of silver started to slightly decrease with silver being priced at Rs.39,670 per kg on the 24th of May.
- A slight increase in the rate of silver saw this metal being priced at Rs.39,950 per kg on the 25th and 26th of May due to sustained demand.
- The rate of silver rose due to increased demand on the last two days of the week and the metal trading at Rs.40,190 per kg.
May ’17 – Week 5 (29th – 31st)
- Due to geopolitical factors and market instability, the rate of silver fluctuated during the final week of the month.
- Easing stock markets in Asia contributed to a marginal increase in the rate of silver.
- This metal traded at Rs.40,285 per kg on the 29th of the month before rising to a monthly high of Rs.40,520 per kg on the 30th of May.
- On the last day of the month in Visakhapatnam, silver was priced at Rs.40,060 per kg, recording an incline of 0.04% in the rate of silver.
|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)
- The general trend of a rise in price was observed in Vishakhapatnam during the first week of April due to steady demand and volatile markets.
- Silver was priced at Rs.42,570 per kg on 1st April, with the price rising marginally during the week as exports rose due to favourable conditions.
- Silver traded at Rs.42,775 per kg on 5th April as local demand rose in response to global cues.
- Prices dipped slightly due to fluctuations in demand as the week ended, with silver trading at Rs.42,640 per kg on 9th April.
April ’17 – Week 2 (10th to 16th)
- While the week began with silver prices at a low, they soon rose on increased demand from industrial units overseas as well as coin makers who sought to capitalise on the weak U.S. Dollar rate.
- Silver was priced at Rs.41,625 per kg on 10th April, though prices rose to Rs.42,640 per kg on 12th April following an influx of demand from Europe.
- Prices rose as the week progressed, with silver trading at Rs.43,030 per kg on 14th April on consistently high demand from coin makers, as some investors also took a shine to the metal as a way to offset losses on the markets.
- Prices rose to a monthly high as the week ended, with silver trading at Rs.43,055 per kg on 16th April.
April ’17 – Week 3 (17th to 23rd)
- The third week saw prices begin to drop as markets recovered from their earlier losses and the U.S. Dollar also rose on positive cues.
- Silver was priced at Rs.43,030 per kg on 17th April, though the price fell to Rs.42,435 per kg on 19th April.
- The end of the festive season led to decreased local demand, which contributed to the drop in price.
- U.S. markets rose during the week, resulting in export demand for silver falling, which in turn led to a drop in price to Rs.42,080 per kg on 21st April.
- The week ended with silver trading at Rs.41,980 per kg on 23rd April, as industrial demand fell on account of a rising U.S Dollar and improving markets.
April ’17 – Week 4 (24th to 30th)
- The last week of April saw the price of silver plunge as favourable market conditions led to markets continuing their bull run.
- Silver traded at Rs.41,625 per kg on 24th April as demand dropped due to a rise in import costs due to strong global currencies.
- Demand from coin makers also stagnated as industrial demand was lower than usual due to rising costs and a slowing down of industrial production in Asia.
- Silver traded at Rs.40,520 per kg on 26th April, with the price falling further to Rs.40,190 per kg on 28th April.
- The month ended with silver falling to Rs.40,040 per kg on 30th April, resulting in a decline of 5.94% over the course of the month.
|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 in Visakhapatnam traded at Rs.43,970 per kg on the 1st of March.
- Silver rate in Visakhapatnam rose by Rs.130 on the second to jump to Rs.44,100 per kg, making it the highest rate of the metal over the course of the month.
- A fall in demand from industrialists and coin makers saw prices plunge significantly on the 3rd of March, and the metal traded at Rs.42,730 per kg.
- Rates increased on the 4th of March to Rs.43,295, and they remained at the same level until the end of the week thanks to increase in demand followed by stability.
March ‘17 - Week 2 (6th to 12th)
- The silver price in Visakhapatnam on the first day of the second week of March was Rs.42,925 – the same as the rate on the last day of the first week of March.
- Rates fell 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 steep 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.
- Silver rate stayed constant on the last day of the second week of March as demand was sustained 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 rate of silver on the first day of the third week of March was Rs.40,760 per kg thanks to a minor increase in demand.
- Silver Rate reduced 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, silver rates fell sharply to trade at their lowest 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 silver price 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 traded on the fourth week of the month at Rs.41,075 per kg, marking a small incline from the closing levels of the previous week.
- Silver rate in Visakhapatnam on the 21st of March was Rs.40,725 per kg due to a fall in the demand for this metal.
- On the 22nd of the month, prices rose marginally and were recorded at Rs.41,230 per kg.
- Thanks to an rise 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 rate of silver on the first day of the last week of March was recorded at Rs.41,900 per kg.
- A rise by Rs.215 on the 28th of the month 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.
- On the 30th of March, prices rose by Rs.320 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 2017 - Week 1 (1st -4th):
- The month of February saw plenty of fluctuations with regards to silver rates as demand from both local and international markets were shaky.
- When the month of February began, silver was trading at Rs.42,520 per kg but increased as industrial demand went up to reach Rs.42,640 per kg.
- On 3rd, however, silver prices decreased to hit the lowest for the month at Rs.42,115 per kg as demand fell suddenly.
- When the week came to an end, silver was trading at Rs.42,355 per kg on 4th, as prices rallied owing to increase in demand.
February 2017 - Week 2 (5th - 11th):
- Silver was priced at Rs.42,355 per kg when week 2 began on 5th and increased significantly to reach Rs.42.520 per kg as coin makers and industrialists alike starting buying the metal.
- As demand kept increasing, prices also went up on 7th, this time to reach Rs.42,930 per kg but fell marginally to Rs.42,920 per kg on 9th.
- As demand went down after the first few days of the week, silver prices went down to as low as Rs.42,375 per kg..
- On the last day of the week on 11th, prices rallied to end at Rs.42,570 per kg.
February 2017 - Week 3 (12th - 18th):
- When trading began for the third week of February, silver was priced at Rs.42,570 per kg.
- Demand from the industry increased this week which brought about a Rs.710 increase on 13th for prices to hit Rs.43,280 per kg.
- There weren’t any positive growth for the next couple days as demand seemed to have hit a peak.
- On 15th, silver was trading at Rs.43,385 per kg which then increased to Rs.43,520 per kg on 16th.
- When week 3 ended, silver was trading at Rs.43,400 per gram - a decrease of Rs.120 from the previous day.
February 2017 - Week 4 (19th - 25th):
- Silver prices fluctuated again over the fourth week of February as demand seemed to dwindle.
- On 19th, when week 4 started, silver was priced at Rs.43,400 per kg which decreased marginally to hit Rs.43,270 per kg on 20th.
- As demand increased, prices too went up on the 23rd to Rs.43,295 per kg and then to Rs.43,680 per kg on 24th.
- On the last day of the week, silver was seen trading at Rs.43,910 per kg - a Rs.230 increase from the previous day.
February 2017 - Week 5 (25th - 28th):
- Over the last four days of February, silver prices seemed to be on an incline.
- On 25th, silver was priced at Rs.43,910 per kg which went up to Rs.44,110 per kg on 27th.
- On the last day of February, silver was still priced at Rs.44,165 per kg.
- Silver trends in Visakhapatnam went up by 3.86% 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 January 30th|
|Lowest Rate in January||Rs.39,035 per kg on January 1st|
January 2017 - Week 1 (1st to 7th):
- Visakhapatnam saw silver prices increase over the course of January.
- When January 2017 started silver was trading at Rs.39,035 per kg on 1st January.
- Prices went up to Rs.39,355 per kg on 2nd as demand increased.
- On 5th, silver rates went up again to Rs.40,520 per kg as buyers began investing in the metal but went down to Rs.40,440 per gram.
- At the end of week 1, silver was trading at Rs.40,390 per kg.
January 2017 - Week 2 (8th to 14th):
- When week 2 began, silver was still trading at Rs.40,390 per kg and went up to Rs.40,520 per gram on 9th.
- Prices seemed for the rest of the week as well as they reached Rs.40,815 per gram and went up again on 11th to Rs.41,295 per gram.
- The next two days saw prices go down due to a sudden slump in demand.
- On 12th, silver prices reduced slightly to Rs.41,265 per kg and went down again to Rs.41,030 per kg.
- Prices increased at the end of the week and went up to Rs.41,230 per kg- an increase of Rs.200 per kg.
January 2017 - Week 3 (15th to 21st):
- Week 3 began with silver trading at Rs.41,230 per kg - the same rate as on the 14th.
- Prices increased to Rs.41,560 per kg on 15th but dipped down to Rs.41,415 per gram on 16th.
- As demand increased, silver prices bounced back on 17th to end the day at Rs.41,990 per gram.
- Prices fluctuated as they went down on 19th to Rs.41,805 per gram and then to Rs.41,675 per gram on 20th.
- When week 3 ended, silver was trading at Rs.41,930 per gram.
January 2017 - Weeks 4 & 5 (22nd to 31st):
- The last two weeks of January saw silver prices go up and down plenty of times as demand saw considerable fluctuation.
- On 22nd, silver traded at Rs.41,930 per kg and then increased to Rs.42,180 per kg on 23rd.
- The next few days saw prices dip gradually to go down to Rs.41,435 per kg on 25th and then to Rs.41,075 per kg by 27th.
- On 30th, prices bounced back to reach Rs.42,010 per kg before going down marginally to Rs.41,980 per gram on the 31st.
- Overall, January was a productive month for silver trading as prices saw an incline of 7.33%.
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
|Silver Rate In Nagpur||Silver Rate In Bhubaneswar||Silver Rate In Raipur|
|Silver Rate In Hyderabad||Silver Rate In Vijayawada|
|Also Know: Gold Rate in Visakhapatnam|
Read more on Silver
- About Silver Mining
- Amazing Facts About Silver
- Global Demand for Silver
- Silver – Poor Man’s Gold
- Silver Bars and Silver Coins