India is the largest importer of silver in the world. Not surprisingly, most consumers in Bhopal hold silver in high regard. Many investors view the white precious metal as a surrogate for the yellow metal, especially when there are restrictions on the gold trade.
Daily Silver Rates in Bhopal
| Date | Silver (1 gram) | Bar Silver (1 Kg) |
| 12 Mar 2018 | ₹ 41.6 | ₹ 41,600 |
| 11 Mar 2018 | ₹ 41.6 | ₹ 41,600 |
| 09 Mar 2018 | ₹ 41.3 | ₹ 41,300 |
| 08 Mar 2018 | ₹ 41.5 | ₹ 41,500 |
| 07 Mar 2018 | ₹ 41.9 | ₹ 41,900 |
| 06 Mar 2018 | ₹ 41.4 | ₹ 41,400 |
| 05 Mar 2018 | ₹ 41.7 | ₹ 41,700 |
| 04 Mar 2018 | ₹ 41.6 | ₹ 41,600 |
| 03 Mar 2018 | ₹ 41.6 | ₹ 41,600 |
Trend of Silver Rate in Bhopal for February 2018 (rates per kg)
| Parameters | Silver price (per kg) |
| Silver Rate on 1st February 2018 | Rs.42,600 per kg |
| Silver Rate on 28th February 2018 | Rs.41,200 per kg |
| Highest Rate in February | Rs.42,600 per kg on 1 and 2 February |
| Lowest Rate in February | Rs.40,600 per gram on 10 and 11 February |
| Overall Monthly Performance | Decline |
| Percentage Change | -3.28% |
Trend of Silver Rate in Bhopal for January 2018 (rates per kg)
| Parameters | Silver price (per kg) |
| Silver rate on 1st January 2018 | Rs.38,925 per kg |
| Silver rate on 31st January 2018 | Rs.42,200 per kg |
| Highest Rate in January | Rs.42,700 per kg on 29 January |
| Lowest Rate in January | Rs.38,925 per kg on 1, 2 and 10 January |
| Overall Monthly Performance | Incline |
| Percentage Change | 8.41% |
Trend of Silver Rate in Bhopal for December 2017 (rates per kg)
| Parameters | Silver price (per kg) |
| Silver Rate on 1st December 2017 | Rs.38,230 per kg |
| Silver Rate on 31st December 2017 | Rs.39,265 per kg |
| Highest Rate in December | Rs.39,365 per kg on 30 and 31 December |
| Lowest Rate in December | Rs.36,545 per kg on 13 December |
| Overall Monthly Performance | Incline |
| Percentage Change | 2.70% |
December 2017 – Week 1 (1st to 10th)
- The industrial metal was priced at Rs.38,230 per kg on the 1st, when trading commenced in Bhopal.
- Silver price in Bhopal surged to Rs.38,815 per kg on the 2nd with the US dollar losing against a basket of other emerging currencies.
- The 5th witnessed silver rate in Bhopal decline again to Rs.37,965 per kg before rebounding to Rs.38,395 per kg the next day with the dollar rising amid the firm equities.
- Demand remained low for much of the week against the strong US dollar index coupled with firm equity markets. This led to silver prices dropping as low as Rs.37,235 per kg on the 7th of December.
- Poor domestic demand coupled with unfavourable global trends led to silver rate in Bhopal hitting Rs.36,620 per kg on the 8th.
- However, a steady but subdued local demand from industrial units and coin makers resulted in the industrial metal trading firm at Rs.36,715 per kg on for the remainder of the week.
December 2017 – Week 2 (11th to 17th)
- When trading opened for the second week silver was priced at Rs.36,920 per kg on the 11th with demand slightly improving from the previous week.
- However, silver price in Bhopal dropped to Rs.36,620 per kg the next day before declining to Rs.36,545 per kg on the 13th amid the strengthening US dollar and well-performing equity markets. This was also the lowest recorded monthly figure in Bhopal.
- A decline in the US dollar index after the dollar weakened against other major emerging currencies led to an increase in demand for the white metal. This led to silver rate in Bhopal surging to Rs.38,395 per kg on the 14th.
- The 15th, however, witnessed rates plunging to Rs.36,920 per kg as demand for the metal subsided amid the strengthening dollar.
- Prices remained unchanged at Rs.36,920 per kg on the 16th but rebounded to Rs.37,180 per kg on the 17th with the new interest rate hike by the Fed Reserve proving to be unfavourable for the equities market.
December 2017 – Week 3 (18th – 24th)
- The week commenced silver priced relatively lower at Rs.37,600 per kg on the 18th as the US tax bill moved a step closer to approval.
- However, with investors speculating over the ultimate impact of the US tax overhaul on the country’s economic growth, equity markets muted. This led to silver prices in Bhopal surging to Rs.38,395 per kg on the 19th.
- Steady industrial demand coupled with positive trends overseas led to silver holding steady at Rs.38,395 per kg on the 20th.
- However, the US Senate’s decision to clear the tax bill resulted in a stronger dollar index and firmer equities. This led to silver rate in Bhopal plunging to Rs.37,600 per kg on the 21st.
- With equities market on the decline in the Asian trade, an increased demand for the industrial metal resulted in the white metal being priced at Rs.37,865 per kg on the 23rd and the 24th.
December 2017 – Week 4 (25th to 31st)
- The final week began with silver trading at Rs.38,395 per kg on the 25th.
- Though prices declined to Rs.38,005 per kg on the 26th, silver rates rebounded to Rs.38,275 per kg on the 27th with the US dollar losing its sheen amid the strong global cues.
- On the 29th, silver rate in Bhopal were recorded at Rs.38,815 per kg which surged further to Rs.39,265 per kg on the 30th owing to a strong increase demand from industrial units and coin manufacturers.
- The last day of the year saw silver price in Bhopal holding steady at Rs.39,265 per kg on the 31st due to strong investor sentiments for the industrial metal amid the positive trends overseas.
- Silver trade witnessed an incline of 2.70% in prices in Bhopal during the course of the month due to the strong international cues that pushed demand higher for the metal.
