Silver Rate in Visakhapatnam

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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 March 2020 (rates per kg)

• In Visakhapatnam, silver opened the month of March at Rs.47,400 per kg. When compared to the previous month’s closing price, the rates of the white metal didn’t see any change. As there was a rebound from a steep fall witnessed on 29th February, the rates increased by Rs.1,100 per kg on 2nd March.
• With the US Federal Reserve slashing the interest rates, the rates of the precious metal climbed to the highest for the month on the 6th of March. A kilo of silver was retailed for Rs.50,700 in the city.
• As investors embarked on a selling spree in a bid to meet margin calls across markets which suffered because of the coronavirus outbreak, silver prices in the city declined. The rates dropped to its lowest for the month on 19th March with every kilogram costing Rs.37,800.
• The rates improved over the next few days as the US Federal Reserve announced unprecedented measures to absorb the impact of coronavirus on the economy. However, with many countries going into lockdown, silver prices remained stagnant over the last week and closed the month at Rs.40,500 per kg. In Visakhapatnam, the price of the white metal witnessed a decline of 14.55% over the month.

Trend of Silver Rate in Visakhapatnam for February 2020 (rates per kg)

• The price of silver in Visakhapatnam for the month of February saw an overall decline of 5.76%. Compared to the last day of January, the price of silver increased by Rs.100.
• After remaining stagnant over the first three days of the month, the prices of silver fluctuated until 14 February 2020.
• From 15 February 2020 to 24 February 2020, the prices of the white metal increased. The main reasons for the increase in prices were the coronavirus concerns and the increase in demand. During this period, the prices of silver hit its highest rate for the month and touched Rs.52,900 per kg.
• Silver rate reduced from 25 February 2020. On 29 February 2020, silver hit its lowest rate for the month at Rs.47,400. The prices of silver reduced by Rs.2,400 when compared to the previous day.

Trend of Silver Rate in Visakhapatnam for January 2020 (rates per kg)

• The prices of silver fluctuated throughout the month of January in Visakhapatnam. Even though the prices of the white metal had increased at the beginning of the month, due to various factors, they saw a decline by the end of the month.
• Some of the factors that ensured that the prices of silver fluctuated throughout the end of the month were the concerns in the Middle East, the demand for riskier assets, the signing of the trade deal, and the outbreak of the coronavirus.
• The prices of silver opened at Rs.50,300 per kg on 1 January 2020 and closed at Rs.50,200 per kg on 31 January 2020. Overall, silver saw a 0.19% decline in Visakhapatnam in the month of January.
• The highest and lowest prices of silver in Visakhapatnam in January were Rs.52,600 per kg and Rs.49,200 per kg, respectively.

Trend of Silver Rate in Visakhapatnam for December 2019 (rates per kg)

• In Visakhapatnam, the price of silver in December opened at Rs.48,100 per kg. The prices of silver saw an overall growth in Visakhapatnam for the month of December.
• Due to the optimism that the trade deal between China and the US would be signed, the prices of silver reduced from 2 December 2019 to 11 December 2019. Silver hit its lowest rate on 10 December 2019 and touched Rs.46,400 per kg.
• Due to the impeachment of the US President and trade talk concerns, the prices of silver in Visakhapatnam increased from 12 December.
• Silver hit its highest rate on the last day of the month and touched Rs.50,900 per kg. Overall, silver prices saw an incline of 5.82% in Visakhapatnam for the month of December.

Trend of Silver Rate in Visakhapatnam for November 2019 (rates per kg)

• Silver opened at Rs.50,500 per kg in Vishakhapatnam riding on the wave of uncertainty around the US-China trade deal that made the metal seem like a safer investment haven.
• It reached the highest on 2 and 3 November at Rs.50,700 per kg with continuing ambiguity around the deal and a further slip in the strength of the dollar.
• Silver dropped to Rs.47,200 per kg on 9 and 10 November, the lowest in the month, with optimism surrounding the trade deal.
• It closed the month on a decline of –4.75% at Rs.48,100 per kg as speculation of a resolution around the US-China trade deal rose.

Trend of Silver Rate in Visakhapatnam for October 2019 (rates per kg)

• In October, silver prices saw an increasing trend throughout the month in Vishakhapatnam. Opening at Rs.47,400 per kg due to a weak dollar and increased speculations on the trade talks, the price of silver increased to Rs.49,100 per kg by 5 October.
• By 10 October, silver prices were trading at Rs.49,900 per kg due to renewed uncertainties on Brexit ahead of the meeting with the European Union and Great Britain.
• Silver prices increased, crossing the Rs.50,000 per kg mark on 26 October as the United States Federal Reserve would be cutting down interest rates by 1% due to weak economic data in the country.
• Closing at Rs.50,000 per kg, the precious metal recorded a monthly overall incline percentage of 5.4%.

Trend of Silver Rate in Visakhapatnam for September 2019 (rates per kg)

Parameters	Silver Price (per kg)
September 1 Rate	Rs.51,600 per kg
September 30 Rate	Rs.48,500per kg
Highest Rate in September	Rs.55,200 per kg on 4 September
Lowest Rate in September	Rs.48,500 per kg on 30 September
Overall Monthly Performance	Decline
Percentage Change	-6%

• Silver prices in Visakhapatnam opened at Rs.51,600 per kg on 1 September on steady industrial demand, though a stable U.S. dollar capped gains from increased industrial interest.
• An increase in tensions in the Middle East and weak markets due to economic uncertainty as a result of the U.S.-China trade conflict drove up bullion demand as prices climbed to Rs.55,200 per kg on 4 September.
• Towards the middle of the month there was a decline in bullion demand as equity markets recovered and interest in safe-haven assets fell, resulting in silver prices dropped steadily despite steady industrial offtake.
• The end of the month saw a continued fall in rates as retail demand plummeted on high import costs, with the metal ending the month at a monthly low of Rs.48,500 per kg on 30 September, with prices falling by 6% during the month.

Trend of Silver Rate in Visakhapatnam for August 2019 (rates per kg)

Parameters	Silver Price (per kg)
August 1 Rate	Rs.44,100 per kg
August 31 Rate	Rs.51,600 per kg
Highest Rate in August	Rs.52,200 per kg on 29 August
Lowest Rate in August	Rs.44,100 per kg on 1 August
Overall Monthly Performance	Incline
Percentage Change	17%

• Silver rates in Visakhapatnam were priced at Rs.44,100 per kg when the month began and rose steadily on increasing demand from industrial units as well as coin makers, though a weak rupee reduced retail offtake.
• Rising tensions in the Middle East led to a slump in equities, as investors sought safe-haven assets like bullion which propelled the industrial metal to Rs.48,500 per kg on 13 August.
• Minor demand fluctuations saw prices dip to Rs.47,700 per kg on 20 August as the dollar recovered on an equity rally, but the U.S.-China trade dispute once again dampened investor sentiment and bolstered bullion offtake.
• Prices surged to Rs.50,100 per kg on 26 August as fresh trade tariffs against China were announced, renewing fears of a global downturn, with prices continuing to climb to Rs.52,200 per kg on 29 August. The month ended with silver trading at Rs.51,600 per kg.

Trend of Silver Rate in Visakhapatnam for July 2019 (rates per kg)

Parameters	Silver Price (per kg)
July 1 Rate	Rs.40,500 per kg
July 30 Rate	Rs.44,800 per kg
Highest Rate in July	Rs.44,900 per kg on 25 July
Lowest Rate in July	Rs.40,400 per kg on 2 July
Overall Monthly Performance	Incline
Percentage Change	10.61%

• Silver rate in Visakhapatnam opened the month lower at Rs.40,500 per kg on weak retail demand but market volatility buoyed demand and the metal rose to Rs.40,800 per kg on 8 July.
• Increasing tensions in the Middle East negatively impacted equity markets and the dollar rate and prompted an increase in bullion offtake, with the white metal rising to Rs.41,300 per kg on 13 July.
• Prices remained static for a few days before a bullion rally resulted in silver rates surging to Rs.44,500 per kg on 19 July on U.S. interest rate cut hopes and fears over a possible recession.
• Despite fluctuations in overseas demand, local interest in silver remained high as industrial units and coin makers capitalized on a weak rupee, with prices rising to Rs.45,900 per kg on 25 July before settling at Rs.44,800 per kg when the month ended.

Trend of Silver Rate in Visakhapatnam for June 2019 (rates per kg)

Parameters	Silver Price (per kg)
June 1 Rate	Rs.39,400 per kg
June 30 Rate	Rs.40,800 per kg
Highest Rate in June	Rs.41,500 per kg on 21 June
Lowest Rate in June	Rs.39,400 per kg from 1 - 2 June
Overall Monthly Performance	Incline
Percentage Change	3.55%

• At the start of the month, silver rate in Visakhapatnam stood at Rs.39,400 per kg. This was the same price it traded at during the end of the previous month. The price of the metal remained stable primarily due to stagnant demand. This was the lowest the metal was trading at for the month.
• As the Federal Bank’s decision to cut interest rates caused speculation in a declining economic growth, the dollar value dipped. This caused the price of silver to rise to Rs.40,100 per kg on June 14.
• The white metal then hit a monthly high on June 21 as the Federal Reserve Bank signaled it was on the verge of cutting interest rate. During this time, silver traded at Rs.41,500 per kg.
• The month ended with silver trading at Rs.40,800 per kg, recording a 3.55% monthly incline.

Trend of Silver Rate in Visakhapatnam for May 2019 (rates per kg)

Parameters	Silver Price (per kg)
May 1 Rate	Rs.40,500 per kg
May 31 Rate	Rs.39,400 per kg
Highest Rate in May	Rs.40,500 per kg on 1 and 2 May
Lowest Rate in May	Rs.39,200 per kg from 20-22 May
Overall Monthly Performance	Decline
Percentage Change	-2.71%

• After opening at Rs.40,500 per kg silver rates in Vishakhapatnam prices dropped steadily on weak industrial offtake and fluctuating overseas demand, with the metal trading at Rs.40,100 per kg on 11 May.
• Prices recovered marginally, climbing to Rs.40,400 per kg on 14 May but a resurgent dollar rate and waning investor interest saw silver rates drop to Rs.39,500 per kg on 18 May as local demand echoed weak overseas sales.
• Declining demand from China due to the continued trade dispute also impacted prices, as the industrial metal slipped to Rs.39,300 per kg on 23 May despite a rise in retail interest.
• Demand from coin makers could not revive the metal’s fortunes and prices fell to Rs.39,100 per kg on 29 May before recovering marginally to end the month at Rs.39,400 per kg.

Trend of Silver Rate in Visakhapatnam for April 2019 (rates per kg)

Parameters	Silver Price (per kg)
April 1 Rate	Rs.40,600 per kg
April 30 Rate	Rs.40,500 per kg
Highest Rate in April	Rs.41,000 per kg on 1 April
Lowest Rate in April	Rs.40,200 per kg on 15 and 24 April
Overall Monthly Performance	Decline
Percentage Change	-0.24%

• The month started off with the silver rate in Visakhapatnam standing at Rs.40,600 per kg. This was the same price it stood at on the last day of the previous month.
• An increased local and industrial demand in for the metal clubbed with a subdued dollar cause the price of silver in the city to surge to Rs.41,000 per kg on 9 April.
• Weak economic trends and a revived dollar weakened the price of silver, and on 15 April the metal stood at its lowest for the month. Silver was trading at Rs.40,200 per kg.
• Failing to really recover, the price of silver remained relatively stagnant, and on the 24th it still stood at Rs.40,200 per kg, also the lowest point for the metal in the month. Regaining a few points by the month-end, silver price on 30th stood at Rs.40,500 per kg, recording a declining trend for the month.

Trend of Silver Rate in Visakhapatnam for March 2019 (rates per kg)

Parameters	Silver Price (per kg)
March 1 Rate	Rs.42,700 per kg
March 31 Rate	Rs.40,600 per kg
Highest Rate in March	Rs.42,700 per kg on 1 March
Lowest Rate in March	Rs.40,200 per kg on 29 March
Overall Monthly Performance	Decline
Percentage Change	-4.91%

• A decrease in local industrial demand and weak global cues resulted in a negative trend of silver prices in Visakhapatnam. The metal opened the month at Rs.42,700 per kg which was the highest rate in March.
• The price of silver gradually increased in the second week amidst the US-China trade negotiations due to which there was a slight decrease in the value of the dollar in the global markets. Silver was valued at Rs.41,600 per kg on 10 March.
• As the dollar strengthened, the value of the rupee fell leading to the quick shift to the markets. As the demand for the bullion decreased, the price of silver decreased to Rs.40,900 per kg by 19 March.
• Due to continuous fluctuations in the market, the ongoing Brexit negotiations and the possibility of a recession in the United States, the demand for bullion increased, leading to an increase in price at Rs.41,400 per kg. However, as local demand slowed yet again, silver closed the month at Rs.40,200 per kg with a percentage decline of 4.91.

Trend of Silver Rate in Visakhapatnam for February 2019 (rates per kg)

Parameters	Silver Price (per kg)
February 1 Rate	Rs.43,900 per kg
February 28 Rate	Rs.43,300 per kg
Highest Rate in February	Rs.44,100 per kg on 5 February
Lowest Rate in February	Rs.42,700 per kg on 14 February
Overall Monthly Performance	Decline
Percentage Change	-1.36%

• Conflicting overseas cues and a volatile U.S. dollar rate resulted in silver prices in Visakhapatnam falling despite a strong start at Rs.43,900 per kg on 1 February, with steady demand boosting prices to Rs.44,100 per kg on 5 February.
• Demand from coin makers and retailers was high due to the weak dollar but gains were capped as volatile markets reduced investor interest, with silver dropping to Rs.43,100 per kg on 12 February.
• Prices dropped to Rs.42,700 per kg on 14 February as equities rallied on positive U.S. payrolls data, though uncertainty over Brexit kept interest in bullion steady among investors as silver recovered marginally to trade at Rs.43,600 per kg on 18 February.
• After briefly rising to Rs.44,000 per kg on 20 February, prices dipped as the dollar stabilised after the Fed announced a more hawkish economic tone which impacted overseas demand and resulted in the metal trading at Rs.43,300 per kg on 28 February.

Trend of Silver Rate in Visakhapatnam for January 2019 (rates per kg)

Parameters	Silver Price (per kg)
January 1 Rate	Rs.41,500 per kg
January 31 Rate	Rs.43,900 per kg
Highest Rate in January	Rs.43,900 per kg on 30 and 31 January
Lowest Rate in January	Rs.41,400 per kg on 2 January
Overall Monthly Performance	Incline
Percentage Change	5.78%

• Silver was priced at Rs.41,500 per kg on the 1st when the month began with an increased offtake from domestic industrial units and coin makers amid favourable market cues overseas.
• Poor dollar performances coupled with the declining equity markets led to silver rate in Visakhapatnam surged further during the month and silver was recorded trading at Rs.42,800 per kg on the 10th amid the positive trend overseas.
• However, prices dropped towards the end of the month as Asian demand for the metal plummeted on account of the trade sanctions imposed on China by the US. The white metal was recorded trading at Rs.41,800 per kg on the 22nd.
• With investors banking on the bullion amid the Brexit crisis and the highly volatile market, demand for the metal surged and silver was priced at Rs.43,900 per kg on the 31st, recording a 5.78% increase in rates during the month.

Trend of Silver Rate in Visakhapatnam for December 2018 (rates per gram)

Parameters	Silver Price (per kg)
December 1 Rate	Rs.38,500 per kg
December 31 Rate	Rs.41,500 per kg
Highest Rate in December	Rs.41,500 per gram on 31 December
Lowest Rate in December	Rs.38,500 per gram on 1 December
Overall Monthly Performance	Incline
Percentage Change	7.79%

Silver rate trend in Vishakhapatnam in December 2018:

• Silver trade opened the month at Rs.38,500 per kg on 1 December and increased through the month due to increased global demand.
• Along with global demand, the value of the rupee also increased against the dollar which led to the increased value of the bullion.
• The month of December also marked the beginning of the wedding season due to which the demand of the bullion amongst local jewellers increased to a great extent.
• On 31 December, silver trading closed at the highest price of the month at Rs.41,500 per kg with a percentage incline of 7.79.

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

Parameters	Silver price (per kg)
November 1 Rate	Rs.40,900 per kg
November 30 Rate	Rs.38,800 per kg
Highest Rate in November	Rs.41,500 per kg from 2-4 and 6 November
Lowest Rate in November	Rs.38,800 per kg on 30 November
Overall Monthly Performance	Decline
Percentage Change	-5.13%

Silver Rate Trend in Visakhapatnam for November 2018:

• For the month of November, silver started trading on a strong note owing to a healthy demand ahead of the festival season. However, as the weeks progressed, the price went down owing to tumultuous global cues and a rupee-dollar relationship.
• Starting the month at Rs.40,900 per kg on the 1st, the silver rate in Visakhapatnam spiked to Rs.41,500 per kg on the 3rd and 4th. The industrial metal stayed at that level for a couple of days before dropping down to Rs.40,500 per kg on November 10.
• As the rupee continued to plummet against the dollar on the back of sliding equities, the cost of imports rose sharply and the demand for the white metal receded. On November 14, the price of silver in Visakhapatnam was Rs.39,400 per kg.
• For the rest of the month, silver was traded at levels below the Rs.40,000 per kg mark. On November 30, it was priced at Rs.38,800 per kg, marking an overall monthly decline of 5.13% in the price.

Trend of Silver Rate in Visakhapatnam for October 2018 (rates per gram)

Parameters	Silver price (per kg)
October 1 Rate	Rs.41,100 per kg
October 31 Rate	Rs.41,200 per kg
Highest Rate in October	Rs.42,000 per kg on 3 October
Lowest Rate in October	Rs.41,100 per kg on 1 and 2 October
Overall Monthly Performance	Incline
Percentage Change	0.24%

October 2018 - Week 1 (1 - 7):

• In Vizag, the month of October opened on a low with prices on the first two days holding at Rs.41,100 per kg - also the lowest price for the month.
• On the 3rd, silver was priced at Rs.42,000 per kg - which was the highest silver rate for the month.
• The week came to an end with silver trading at Rs.41,900 per kg.

October 2018 - Week 2 (8 - 14):

• October week 2 started with silver starting at Rs.41,500 per kg - a Rs.400 drop from the previous day’s prices.
• Demand dropped over the course of the week and prices dropped to as low as Rs.41,200 per kg but as days neared towards the end of the week, they picked up.
• On the final day of this week, silver prices were holding at Rs.41,500 per kg.

October 2018 - Week 3 (15 - 21):

• The third week of October began with silver opening at Rs.41,900 per kg. This week recorded one of the highest falls this week as prices fell to Rs.41,400 per kg on the 17th - a Rs.500 per kg drop.
• However, prices picked back up on the 19th for the metal to trade at Rs.41,900 per kg, thanks to solid demand.
• On the 20th, the white metal traded at Rs.41,500 per kg and on the final day of the week, it was priced at Rs.41,400 per kg.

October 2018 - Week 4 (22 - 28):

• The fourth week of October started with silver trading at Rs.41,500 per kg which then went up to Rs.41,900 per kg over the next few days.
• The rise in prices could be attributed to the falling rupee which was hit severely by the rising crude oil prices.
• However, as the rupee recovered slowly, silver rates went down as demand took a hit. On the 26th, silver was priced at Rs.41,500 per kg before rising to Rs.41,700 per kg on the 28th of October.

October 2018 - Week 5 (29 - 31):

• The last week of October in Vizag opened with silver opening at Rs.41,600 per kg. But, due to a drop in demand, prices seemed to plummet the next day.
• On the 30th, the white metal was priced at Rs.41,200 per kg which then held on till the closing hours of the week and month on the 31st.
• A 0.24% incline was recorded in silver prices this month, thanks to strong demand for the metal and weaker local currency.


Trend of Silver Rate in Visakhapatnam for September 2018 (rates per gram)

Parameters	Silver price (per kg)
September 1 Rate	Rs.40,000 per kg
September 30 Rate	Rs.41,200 per kg
Highest Rate in September	Rs.41,200 per kg on 29 and 30 September
Lowest Rate in September	Rs.39,500 per kg on 5, 7, 15-16 September
Overall Monthly Performance	Incline
Percentage Change	3%

September 2018- Week 1 (1-8)

• On the 1st of September, silver was priced at Rs.40,000 per kg in Visakhapatnam.
• On 3th of the month, silver rates in the city dipped to Rs.40,000 and further slid and hit a monthly low of Rs.39,500 per kg on 5th and 7th September.
• The stock market was affected negatively due to the ongoing trade war and investors turned to safe-haven assets which helped silver rates recover and close at Rs.39,700 per kg.

September 2018- Week 2 (9-15)

• Though steady demand for the metal helped silver rate remain unaffected and trade at Rs.39,700 per kg on 9th September, the price of silver fell in the last few days of the week.
• Silver rates inclined and traded at Rs.39,900 per kg from 11 to 13 of the month before falling to Rs.39,800 per kg on 14 September.
• Fluctuating dollar rate led to a dip in silver rates and silver once again hit a monthly low of Rs.39,500 per kg on 15 September.

September 2018- Week 3 (16-22)

• On 16 September, silver opened at Rs.39,500 per kg but inclined throughout the week as the ongoing trade war tension weakened the value of the US dollar.
• Silver prices inclined and traded at Rs.39,700 per kg, Rs.39,800 per kg, and Rs.40,000 per kg on 17, 18, and 19 September respectively.
• As the value of the rupee fell and the global trade tensions continued, silver rates further inclined and traded at Rs.40,100 per kg on 20 and 21 September before closing at Rs.40,300 per kg on 22.

September 2018- Week 4 (23-30)

• Silver continued to trade at Rs.40,300 per kg on 23 September in Visakhapatnam.
• Due to poor retail demand, the price of silver dropped to Rs.40,000 per kg on 24 September. However, as the demand for the metal picked up, silver rates quickly recovered and inclined to Rs.40,200 per kg on 25 and further inclined to Rs.40,800 per kg on 26 September.
• During the end of the month, silver prices surged and hit a monthly high of Rs.41,200 per kg on 29 and 30 September. Silver rates inclined by 3% in the month of September in Visakhapatnam.

Trend of Silver Rate in Visakhapatnam for August 2018 (rates per gram)

Parameters	Silver price (per kg)
August 1 Rate	Rs.41,400 per kg
August 31 Rate	Rs.40,300 per kg
Highest Rate in August	Rs.41,400 per kg on 1 and 9 August
Lowest Rate in August	Rs.39,800 per kg on 24 August
Overall Monthly Performance	Decline
Percentage Change	-2.65%

August 2018 - Week 1 (1 - 05):

• On 1 August 2018, the highest silver price for the month of August in Visakhapatnam was recorded when the metal traded at Rs.41,400 per kg.
• However, on 2 August the price of silver fell by Rs.300 per kg due to poor demand from local coin makers and jewellers. On this day, silver traded at Rs.41,100 per kg.
• After remaining stable for one day, silver prices rose by Rs.200 per kg as the demand picked up on 4 August.
• Silver closed at Rs.41,300 per kg on 5 August.

August 2018 - Week 2 (6 - 12):

• During the second week of August, the industrial demand for silver fell in Visakhapatnam causing the price of silver to decline.
• Silver opened at Rs.41,300 per kg on 6 August in Visakhapatnam.
• On 7 August, silver traded at Rs.41,200 per kg. A positive report on the U.S economy strengthened the US dollar which caused silver prices in Visakhapatnam to decline on this day.
• On 9 August, silver prices in Visakhapatnam recorded the highest silver rate of Rs.41,400 per kg for the month once again as the demand for the metal picked up.
• On 10 August, the retail and industrial demand for the metal fell significantly which caused silver prices to fall and trade at Rs.41,100 per kg.
• Silver prices in Visakhapatnam recovered marginally and closed at Rs.41,200 per kg on 12 August.

August 2018 - Week 3 (13 - 19):

• On 13 August, silver continued to trade at Rs.41,200 per kg due to steady demand for the metal.
• However, as the demand for the metal fell on 14 August, the price of silver fell sharply and traded at Rs.40,900 per kg.
• As the US unemployment data was released, it looked positive for the US economy. Therefore, the value of the US dollar increased which negatively affected silver prices in Visakhapatnam.
• Though on 15 August silver prices in Visakhapatnam rose and traded at Rs.41,100 per kg, it quickly fell to Rs.39,900 per kg on 16 August due to weak overseas trends and poor domestic demand for the metal.
• Silver traded at Rs.40,000 per kg from 17 to 19 August and closed at the same price for the week.

August 2018 - Week 4 (20 - 26):

• At the beginning of week 4 silver continued to trade at Rs.40,000 per kg.
• After remaining steady for one day, silver prices in Visakhapatnam increased by Rs.100 per kg and traded at Rs.40,100 per kg on 22 August.
• On 23 August, silver prices fell due to a strong US dollar. On this day, silver traded at Rs.39,900 per kg.
• On 24 August, the lowest silver price for the month of August was recorded when the metal traded at Rs.39,800 per kg.
• Silver prices managed to pick up during the last few days of the week and closed at Rs.40,200 per kg on 26 August.

August 2018 - Week 5 (27 - 31):

• Silver continued to trade at Rs.40,200 per kg due to steady industrial demand for the metal in Visakhapatnam.
• As the demand for the metal picked up on 28 August, silver was sold at Rs.40,400 per kg.
• As the value of the US dollar started recovering, silver prices fell marginally during the last two days of the month and closed at Rs.40,300 per kg.

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

Parameters	Silver price (per kg)
July 1 Rate	Rs.42,800 per kg
July 31 Rate	Rs.41,400 per kg
Highest Rate in July	Rs.42,900 per kg from 9 - 10 July
Lowest Rate in July	Rs.41,200 per kg from 28 - 29 July
Overall Monthly Performance	Decrease
Percentage Change	-3.27%

July 2018- Week 1 (1-10)

• Silver traded at Rs.42,800 per kg on 01 July 2018.
• On 03 July 2018, a marginal drop in silver prices was noted as the metal traded at Rs.42,400 per kg. The drop in silver prices on this day was mainly due to the drop in demand for the metal in industrial units.
• However, during the week, silver prices managed to increase as the demand from industrial units and coin makers picked up and hit Rs.42,800 per kg.
• The highest silver price for the month of July in Visakhapatnam was recorded on 9-10 July, when the metal traded at Rs.42,900 per kg.
• The increase in silver rates during the last two days of the week can be contributed to positive market trends and the declining dollar rates over all other currencies.

July 2018- Week 2 (11-17)

• Silver prices stood at Rs.42,600 at the beginning of week 2 in Visakhapatnam.
• The drop in demand for the white metal led to the drop in silver prices. Compared to week 1, silver rates fell continuously during the second week of July.
• As the industrial demand for silver dipped further, it decreased the silver price in the city. The price of silver from 12 - 14 July stood at roughly Rs.42,200.
• On 16 July 2018, silver prices slightly increased and traded at Rs.42,300 per kg. Though it was a small difference in silver rates, the increase was majorly due to the increase in demand as other external factors remained almost neutral.
• Though there was a decline in the dollar value during the last few days of the week, it did not affect silver rates much.
• Silver stood at Rs.42,100 per kg on 17 July.

July 2018- Week 3 (18 - 24)

• As of 18 July, silver was priced at Rs.41,700 per kg.
• On the first day of the week, silver rates dropped by Rs.400 per kg compared to the previous day when the white metal traded at Rs.42,100 per kg.
• Demand for silver played a huge role throughout the month and determined the silver rates in Visakhapatnam. When demand from local jewelers, merchants, coin makers, and industrial units dipped, the prices declined. When the demand picked up, the prices increased too.
• The price of silver further dipped to Rs.41,300 per kg on 20 July mainly because the value of the dollar increased.
• Silver rates between 21 - 22 July stood at Rs.41,700 per kg. Though the prices slightly picked up on 21 and 22, the rates quickly fell to Rs.41,400 per kg on 24 July.

July 2018- Week 4 (25 - 31)

• An increase of Rs.100 per kg was recorded on 25 July 2018. Silver opened at Rs.41,500 per kg.
• On 26 July, the rate of silver increased by Rs.300 per kg and traded at Rs.41,800 per kg as demand for the metal picked up.
• The price of silver stood at Rs.41,200 per kg as on 28 - 29 July. This was also the lowest silver price recorded for the month.
• By the end of the month, the price of silver increased as dollar rates dropped slightly. The metal stood at Rs.41,400 on 30 - 31 July.

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Also Know: Gold Rate in Visakhapatnam