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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 May 2017 (rates per kg)
|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%.
|December 1st Rate||Rs.40,450 per kg|
|December 31st Rate||Rs.39,035 per kg|
|Highest Rate in December||Rs.41,630 per kg on 8th December|
|Lowest Rate in December||Rs.38,700 per kg on 23rd December|
December '16 - Week 1 (1st to 4th)
- The price of silver in Visakhapatnam was steady as demand was high.
- Silver traded at Rs.40,450 per kg on 1st December, with prices rising throughout the week on sustained demand.
- International demand also increased due to market fluctuations, which led investors to safe haven assets like bullion.
- Silver rose to Rs.40,795 per kg on 2nd December before closing the week at Rs.41,070 per kg on 4th December.
December '16 - Week 2 (5th to 11th)
- Silver traded at Rs.41,055 per kg on 5th December as demand dropped slightly, though prices were not adversely affected.
- Poor demand from the retail sector and jewellers continued to affect demand, which led prices to drop to Rs.40,820 per kg on 7th December.
- Prices rose during the week, with silver reaching a monthly high of Rs.41,630 per kg on 8th December as industrial demand rose.
- Prices fell as the week ended, with silver trading at Rs.41,345 per kg on 11th December.
December '16 - Week 3 (12th to 18th)
- The third week of December saw silver prices falter due to declining demand.
- Silver traded at Rs.40,880 per kg on 12th December, rising marginally for a few days as demand improved.
- The recovering U.S. Dollar led to a decline in demand as imports were more expensive, resulting in silver trading at Rs.40,605 per kg on 15th December.
- Reduced industrial demand led to prices falling further, as silver ended the week at Rs.39,305 per kg on 18th December.
December '16 – Week 4 (19th to 25th)
- Silver was priced at Rs.39,435 per kg on 19th December as demand dropped due to declining orders from Asian nations.
- An increase in retail spending boosted the U.S. Dollar and led markets to rise, which reduced interest in silver.
- Prices fell to Rs.38,700 per kg on 23rd December, the lowest rate for the month.
- Silver prices recovered as the week ended, trading at Rs.38,725 per kg on 25th December.
December '16 – Week 5 (26th to 31st)
- Prices recovered marginally, though silver demand was still lower than expected.
- Silver was priced at Rs.38,460 per kg on 26th December with demand falling as markets continued to trade high.
- Retail demand began to improve, which led to prices rising to Rs.39,345 per kg on 28th December.
- The U.S. Dollar fluctuated on conflicting data, which led to silver demand spiking as it traded at Rs.39,630 per kg on 30th December.
- Prices fell sharply as the year ended due to declining demand, resulting in silver trading at Rs.39,035 per kg on 31st December and recording an overall loss in value of 3.49%.
|November 1st Rate||Rs.42,910 per kg|
|November 30th Rate||Rs.41,055 per kg|
|Highest Rate in November||Rs.44,960 per kg on 9th November|
|Lowest Rate in November||Rs.40,190 per kg on 25th November|
November '16 - Week 1 (1st to 6th)
- Silver prices in Visakhapatnam were high due to strong demand from the industrial sector.
- Silver was priced at Rs.42,910 per kg on 1st November as domestic demand also spiked due to the festive season.
- Uncertainty over the results of the upcoming U.S. presidential election led to U.S. markets fluctuating, which led to higher investment in silver.
- Silver traded at Rs.44,180 per kg on 6th November as consistent demand kept prices high.
November '16 - Week 2 (7th to 13th)
- The second week saw silver prices rise, with the metal trading at Rs.43,685 per kg on 7th November.
- The unexpected victory of Donald Trump in the election led to markets falling, which boosted silver demand.
- Silver trades at a monthly high of Rs.44,960 per kg on 9th November as domestic demand also increased.
- The announcement of the demonetisation of Rs.1,000 and Rs.500 notes led to Indian markets falling, further stimulating silver demand.
- As the week ended, silver prices fell marginally, trading at Rs.42,005 per kg on 13th November.
November '16 - Week 3 (14th to 20th)
- The currency shortage led to demand for precious metals falling, which affected silver rates in the country.
- Silver traded at Rs.41,760 per kg on 14th November, with prices continuing to fall during the week.
- Low retail demand negatively impacted the price of silver, which dropped to Rs.40,735 per kg on 20th November.
November '16 - Week 4 and 5 (21st to 30th)
- Gains made by the U.S. Dollar and stock markets led to silver demand falling still further during the last two weeks of November.
- Silver was priced at Rs.40,890 per kg on 21st November amidst declining industrial demand and poor retail demand.
- A resurgence in stock markets due to the possibility of a U.S. Fed rate hike led to silver falling to a record low of Rs.40,190 per kg on 25th November.
- Prices recovered marginally as the month ended, with silver trading at Rs.41,055 per kg on 30th November to record a loss of over 4% in price compared to the beginning of the month.
|1st Day||Rs.45,900 per kilogram|
|Last Day||Rs.43,035 per kilogram|
|Highest Price||Rs.45,900 per kilogram on 1st and 2nd October|
|Lowest Price||Rs.41,685 per kilogram on 7th October|
October 2016 – Week 1 and 2 (1st to 9th)
- Silver did not perform well this week as demand fell considerably.
- The week began with silver trading at Rs.45,900 per kilogram.
- A declining trend took over as the global market had a bearish outlook.
- On 9th October, silver rates had dropped to Rs.41,800 per kilogram.
- Demand is expected to pick up with Navratri and Dhanteras around the corner.
October 2016 – Week 3 (10th to 16th)
- On 10th October, silver was able to recover on the back of high demand and traded at Rs.42,600 per kilogram.
- Demand soon started to drop again as global market trends did not play in favour of silver.
- By 15th October, silver was seen trading at Rs.41,780 per kilogram.
- Industrialists and coin makers reduced their offtake which led to a dip in silver rates this week.
October 2016 – Week 4 (17th to 23rd)
- A louder chorus of the U.S. Federal Reserve’s interest rate hike deterred investors in the global market.
- On 17th October, silver was seen trading at Rs.41,970 per kilogram.
- With the wedding season taking off, demand started to rise.
- The U.S. Federal Reserve was uncertain of the interest rate hike as economic data was not strong enough.
- Silver traded at Rs.42,130 per kilogram by the end of the week.
October 2016 – Week 5 (24th to 31st)
- On 24th October, silver traded at Rs.42,330 per kilogram.
- Silver received support from coin makers and industrialist this week and was able to recover.
- By the end of the month, silver traded at Rs.43,035 per kilogram.
- There was a decline of 6.24% in silver prices this month.
|1st Day||Rs.45,225 per kilogram|
|Last Day||Rs.45,750 per kilogram|
|Highest Price||Rs.47,820 per kilogram on 7th September|
|Lowest Price||Rs.45,225 per kilogram on 1st September|
September '16 - Week 1 (1st to 4th)
- 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