*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 September 2016 (rates per Kg)
|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)
- The month of September opened with silver trading at a very low rate of Rs.45,225 per kilogram.
- The pressure of a Fed rate hike eased up on account of slow U.S. economic data.
- Silver traded at Rs.45,225 per kilogram on 1st September.
- Domestic demand picked up owing to positive global trends coupled with the festival season.
- Silver traded at Rs.46,760 per kilogram on 4th September.
September '16 - Week 2 (5th to 11th)
- Silver prices continued to rise going into the second week of September.
- Silver prices started out at Rs.46,760 per kilogram on 5th September and ended the week at Rs.46,835 per kilogram on 11th September.
- The rise in prices can be attributed to a bullish global market coupled with domestic demand blooming as festival season approaches.
September '16 - Week 3 (12th to 18th)
- Silver prices were volatile this week as the U.S. Federal Reserve raised expectations of an interest rate hike again.
- Silver traded at Rs.45,715 per kilogram on 12th September.
- The lowest price for this week was on 17th and 18th September at Rs.45,370 per kilogram.
- Demand for silver slowed down in the domestic and overseas markets as traders and investors were reluctant.
September '16 - Week 4 (19th to 25th)
- The outlook in the global market turned bullish as the U.S. Federal Reserve put the interest rate hike on hold in light of the U.S. presidential elections.
- Silver traded at Rs.46,110 per kilogram on 19th September.
- Prices gradually rose as industrialists increased their offtake.
- By 23rd September, the rate for silver rose to Rs.47,535 per kilogram.
- Prices remained constant till the end of the week as speculative demand was high.
September '16 - Week 5 (26th to 30th)
- Jewellers and stockists stepped back even though the festive season was soon approaching.
- Silver traded at Rs.46,950 per kilogram and started falling as industrial offtake reduced.
- Silver had fallen to Rs.45,750 per kilogram on 30th September as the dollar gained strength in the global market.
|Highest Price||Rs.49,670 per kilogram on 3rd August|
|Lowest Price||Rs.44,805 per kilogram on 29th August|
August '16 – Weeks 1 (1st to 7th)
- Silver rate commenced at Rs.49,430 per kilogram.
- Silver traded at Rs.49,670 per kilogram which was also the highest silver rate during the month.
- Due to U.S employment data speculation, silver prices fell on the 6th of August and traded at Rs.47,255 per kilogram and was steady for 2 days.
August '16 – Week 2 (8th to 14th)
- Silver prices slightly increased at the beginning of this week.
- On 08th of August silver traded at Rs.47,460 per kilogram.
- Demand from local market increased silver prices on 10th and 11th of August.
- Silver closed at Rs.47,750 per kilogram.
August '16 – Week 3 (15th to 21st)
- At the beginning of the week, silver traded at Rs.47,750 per kilogram.
- Despite muted demand from the local market, silver managed with minimal fluctuation for the first 5 days of the week.
- After positive comment from U.S government about interest rate hike, silver prices fell and closed at Rs.46,690 per kilogram. 3rd week of August displayed a downward curve overall.
August '16 – Week 4 (22nd to 28th)
- On the first day of the week, silver traded at Rs.45,800 per kilogram.
- On 26th August, silver recorded the lowest silver rate during the week and traded at Rs.45,010 per kilogram.
- Strong U.S economy and positive employment data affected silver prices negatively.
- Silver managed to close at Rs.45,040 per kilogram without major fluctuations.
August '16 - Week 5 (29th to 31st)
- Silver prices hit the lowest rate on the 29th of August and traded at Rs.44,805 per kilogram.
- Speculations of FED rate hike has adverse effect on silver prices keeping it low for the rest of the month.
- Silver slightly increased by Rs.345 per kilogram by the end of the month
- Silver closed at Rs.45,460 per kilogram. Experts believe that silver prices will increase in the second half of the year due to festive season in India.
|July 1st Rate||Rs.46,490 per 1 kg|
|July 31st Rate||Rs.48,970 per 1 kg|
|Highest Rate in July||Rs.49,745 per 1 kg on 11th of July|
|Lowest Rate in July||Rs.46,490 per 1 kg on July 1st|
July'16 - Week 1 and 2 (1st to 10th)
- Silver traded at Rs.46,650 per 1 kg on the 1st of July.
- Owing to heavy demand, silver climbed up to Rs.47,925 per kg on the 2nd of July.
- Silver continued to climb up and hit Rs.49,265 per kg on the 6th of July.
July'16 - Week 3 (11th to 17th)
- Silver opened the at Rs.49,200 per kg the 11th of July.
- The price of silver increased by Rs.215 to Rs.49,415 per kg on the 12th of July.
- Silver traded at Rs.49,130 per kg on the 13th of July.
- Silver witnessed a decline as prices dropped down to Rs.48.840 per kg on the 16th of July and remained the same on the 17th.
July '16 - Week 4 (18th to 24th)
- Silver traded at Rs.48,360 per kg on 18th of July.
- Prices came down to to Rs.47,105 per kg on the 21st of July.
- Silver price increased to Rs.47,420 per kg on the 22nd of July and remained constant till 24th of July.
July‘16 - Week 5 (25th to 31st)
- Silver opened the week at Rs.47,195 per kg on the 25th of July.
- The price of silver increased by Rs.415 and traded at Rs.47,610 per kg on the 26th of July.
- The price of silver dropped down and was at at Rs.47,370 per kg.
- Silver hit the highest for the week at Rs.49,070 per kg on the 28th of July.
- Silver closed the month at Rs.48,970 per kg on the 31st of July.
|June 1st Rate||Rs. 38,640 per 1 kg|
|June 30th Rate||Rs. 44,635 per 1 kg|
|Highest Rate in June||Rs. 44,635 per 1 kg for 1 kg for 30th June|
|Lowest Rate in June||Rs. 44,635 per 1 kg on June 1st|
Jun'16 - Week 1 (1st to 4th)
- Silver traded at Rs. 38, 640 per 1 kg on the 1st of June.
- Silver price surged by Rs.225 per kg on the 3nd of June at Rs. 38,865 per kg.
- 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 as there was no change in the price from the previous week.
- The price of silver came down by Rs.65 from Rs. 39,755 per kg to Rs. 39,690 per kg on the 6th of June.
- Silver witnessed a further decline as prices dropped down to Rs. 39,585 per kg on the 8th of June.
- Prices steadily increased over the week and silver traded at Rs.41,510 per kg on the 11th of June.
Jun'16 - Week 3 (12th to 18th)
- Silver remained unchanged and traded at Rs.41,510 per kg on the 12th of June.
- Silver hit Rs.41,935 per kg on the 14th of June.
- Silver traded at Rs.42,958 per kg on the 16th of June.
- The price declined further over the week and silver hit Rs.42,235 on the 18th of June.
Jun'16 - Week 4 (19th to 25th)
- Silver traded at Rs.42,235 per kg on the 19th of June.
- Due to heavy demand in the global market,the price of silver rose to Rs.42,405 per kg on the 21st of June.
- The price of silver relatively increased over the week and hit Rs.43,465 per kg on the 24th of June.
- The price of silver remained unchanged on the 25th of June at Rs.43,465 per kg.
Jun'16 - Week 5 (26th to 30th)
- Silver traded at Rs.43,465 per kg on the 25th and 26th of June.
- The price further increased to Rs.43,980 per kg on the 29th of June.
- Silver closed the month at Rs.44,635 per kg 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 of May|
|Lowest rate in May||Rs. 38,795 on 30th of May|
May '16 - Weeks 1 and 2 (1st to 8th)
- The first two weeks of May saw silver prices in Vishakhapatnam fall marginally due to a slowing down of international demand as well as market conditions.
- Silver was priced at Rs. 42,590 per kg on the 1st of the May and reached a monthly high of Rs. 42,675 per kg on the 2nd of May.
- Prices dipped the rest of the week, with silver trading at Rs. 41,565 per kg on the 4th of May.
- The price fluctuated the rest of the week, with sliver trading at Rs. 41,875 per kg on the 8th of May.
May '16 -Week 3 (9th to 15th)
- Silver prices for the third week of May continued the trend, falling gradually as demand ell.
- The price of silver retailed at Rs. 41,725 per kg on the 9th of May but plunged by Rs. 835 per kg to retail at Rs. 40,890 on the 10th of May.
- Market volatility and strengthening international markets kept demand low, causing the price to fall further, trading at Rs. 41,275 per kg on the 13th of May.
- Silver rallied in the last few days of the week to close trading at Rs. 41,255 per kg on the 15th of May.
May '16 - Week 4 (16th to 22nd)
- As speculation regarding the U.S. Federal Reserves’ interest rate hike picked up, the markets rallied and the Dollar made significant gains.
- Prices of silver continued to fall, with the metal retailing at Rs. 41,255 on the 16th of May and dropping to Rs. 40,825 on the 19th of May.
- Domestic demand was also weak, taking a cue from the international market and keeping prices low.
- Silver stabilised at Rs. 40,135 per kg on the 21st and 22nd of May, ending the week marginally higher.
May '16 - Weeks 5 and 6 (23rd to 31st)
- The last week of May saw the U.S, stock market make gains as the Dollar strengthened against global currencies, buoyed by encouraging data from the U.S. manufacturing sector.
- Asian markets took their cue from the rise, with bourses registering significant gains.
- Silver performed poorly, retailing at Rs. 40,060 per kg on the 23rd of May and falling to Rs. 39,695 on the 34th of May.
- Silver was unable to recover from its fall, continuing to drop throughout the week, with the lowest rate for the month recorded on 30th of May, when silver traded at Rs. 38,795 per kg.
- With U.S. job market data not as encouraging as expected, silver made a small recovery, closing the month at Rs. 39,065 per kg.
|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 the month followed by a steady increase over the next three days and remained unchanged for the last four days of the ten-day period.
- Prices were recorded at Rs.36,780 on the 1st of the month and Rs.36,620 on the tenth day of April.
- Prices began to increase after the fourth day of trading as international as well as domestic trends began firming amidst an increase in industrial demand.
Apr ‘16 - Week 3 (11th to 17th)
- Silver rates increased steadily during the third week of the month.
- Prices were recorded at Rs.37,115 on the first day of the week and Rs.39,110 on the last day of the week.
- Prices rose by almost Rs.2000 over the third week of trading, making it a successful one for traders and jewellers alike.
Apr ‘16 - Week 4 (18th to 24th)
- Silver rates fluctuated during the fourth week of the month but recorded healthy gains overall as the week progressed.
- Prices were recorded at Rs.38,920 on the first day of the week and Rs.41,155 on the last.
- Prices increased by more than Rs.2200 during course of the week, making it the highest gains over seven days in April.
Apr ‘16 - Week 5 (25th to 30th)
- Except a marginal drop in prices on the fourth day of trading, silver prices increased steadily over the last week of April.
- 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.
|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)
- Prices declined as the month began.
- Prices were Rs.37,005 on 1st and Rs.36,640 on 6th.
- An overall loss of Rs.365 was experienced during the week.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Prices were up during this week.
- Rates were Rs.37,695 on 7th and Rs.37,710 on 13th.
- No major fluctuations occurred as silver rose by Rs.15 over the week.
Mar'16 - Week 3 (14th to 20th)
- Prices continued marginal appreciations into the third week.
- Rates were Rs.37,650 on 14th and Rs.37,865 on 20th.
- During this week, silver crossed the 38,000 mark for the first time by touching Rs.38,640 on 18th.
Mar'16 - Week 4 (21st to 27th)
- Silver lost Rs.1,245 in this week.
- Rates were Rs.37,930 on 21st and Rs.36,685 on 27th.
- Silver traded in the negative on all days after 22nd.
Mar'16 - Week 5 (28th to 31st)
- Silver continued depreciating in the last 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 was up as February began.
- Prices were Rs.34,970 on 1st and Rs.36,925 on 7th.
- Silver appreciated all through the week with no recorded negative sessions.
Week 2 (8th to 14th)
- Silver was up again in the second week of the month.
- Rates were Rs.36,950 on 8th and Rs.38,525 on 14th.
- Silver traded in the negative till 11th before rising on 12th and marginally dropping on 13th and 14th to end the week at Rs.38,525.
Week 3 (15th to 21th)
- Silver was profitable in the third week.
- Prices were Rs.37,220 on 15th and Rs.37,930 on 21st.
- Though prices were volatile in the 37,000s through the week, silver managed to gain Rs.710 by the end of the week.
Week 4 (22nd to 29th)
- Silver prices registered a negative week towards the end of February.
- Prices were Rs.37,615 on 22nd and Rs.36,295 on 29th.
- Silver declined consequently through the week, with a substantial decline observed on 29th when prices fell below 37,000-,ark and ended at Rs.36,295.
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 rates in 2016 started on a positive footing.
Prices were Rs.33,230 on 4th and Rs.33,865 on 10th.
Silver gained value in the first 5 days to rise to Rs.34,220 before settling at Rs.33,865 for the remaining days.
Jan '16 - Week 2 (11 th to 17 th )
Silver was up again in the 2nd week.
Rates were Rs.33,750 on 11th and Rs.34,335 on 17th.
There was a loss in rates as prices fell to Rs.33,295 on 13th but regained the lost value to rise to Rs.34,220 on 14th.
Silver settled at Rs.34,335 for the rest of the week.
Jan '16 - Week 3 (18 th to 24 th )
Prices were up again in the 3rd week.
Prices were Rs.34,115 on 18th and Rs.34,425 on 24th.
Silver had a volatile week though it stabilized towards the end and ended the week on a positive note at Rs.34,425.
Jan '16 - Week 4 (25 th to 31 st )
Gains continued for the 4th week also.
Rates were Rs.34,435 on 25th and Rs.34,930 on 31st.
Silver performed positively till 28th, touching a high of Rs.35,565.
Silver lost steam in the final days of the month as prices slid to 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 during the 1st week of December.
- Prices were Rs.34,040 on 1st and Rs.35,015 on 7th.
- Prices went as low as Rs.33,660 on 3rd before rallying to Rs.35,050 by 6th.
- Silver settled at a slightly lower Rs.35,015 on 7th.
- Silver lost value in the 2nd week.
- Prices were Rs.34,415 on 8th and Rs.33,670 on 14th.
- There was a major drop in rates only on 14th when prices fell by Rs.340, otherwise the week turned out to be stable for silver rates.
- Silver prices were stable within Rs.33,000 to Rs.34,000 in the 3rd week.
- Rates were Rs.33,230 on 15th and Rs.33,900 on 21st.
- The only major changes in rates in the week happened on 18th and 19th when prices dropped by Rs.810 and appreciated by Rs.735 respectively.
- Silver Rates were marginally down in the last few days of December.
- Prices were Rs.34,020 on 22nd and Rs.33,405 on 31st.
- Silver was stable around Rs.34,000 through 28th, before dropping to sub-34,000 mark on 29th and ending the month and year at Rs.33,405.
|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 in Vishakhapatnam declined in the first week of November.
- Prices were Rs.36,675 on 1st and Rs.35,220 on 7th.
- Silver appreciated marginally to Rs.36,850 on 2nd before trading in negative till 5th when it was priced at Rs.35,820.
- Silver was selling at Rs.35,825 on 6th, which dropped to Rs.35,220 on 7th.
- Silver dropped again in the 2nd week.
- Prices were Rs.35,220 on 8th and Rs.34,090 on 14th.
- Silver gained over Rs.1,000 on 9th to jump to Rs.36,265 but dropped consecutively till 13th to settle at Rs.34,050.
- There was a slight gain in value on 14th when prices rose to Rs.34,090.
- Silver Rates were volatile in the range of 33,935 to 34,485 in the 3rd week.
- Prices were Rs.34,090 on 15th and Rs.34,005 on 21st.
- Silver rose to Rs.34,485 on 16th and dropped to Rs.33,935 by 18th.
- 19th and 20th saw silver being priced at Rs.34,060 and Rs.34,090 respectively, before it settled at Rs.34,005 by the end of the week.
- Silver Rates depreciated marginally in the last few days of November.
- Prices were Rs.34,005 on 22nd and Rs.33,940 on 30th.
- Silver dropped to Rs.33,725 on 23rd before rallying over the next 4 days to touch Rs.34,310 by 27th.
- Silver dropped to Rs.34,090 on 28th and to Rs.33,940 on 30th.
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