Trend of Silver Rate in Hyderabad (rates per kg) -Antworks Money

Silver has been a constant commodity in this historic city. Hyderabad is one of the major cities in the South and boasts of a large and upwardly mobile middle-class population. The city has some of the best sites dating back to centuries and has been a preferred destination for a wide range of tourists and commercial interests alike. Silver rates in Hyderabad follow the trend of international prices, albeit with the addition of a few local dynamics which also affect silver rates in the city

Trend of Silver Rate in Hyderabad for March 2018 (rates per kg)

Parameters	Silver price (per kg)
March 1 Rate	Rs.41,100 per kg
March 31 Rate	Rs.41,400 per kg
Highest Rate in March	Rs.41,900 per kg on 7 March
Lowest Rate in March	Rs.41,000 per kg on 19 and 21 March
Overall Monthly Performance	Incline
Percentage Change	0.72%

Trend of Silver Rate in Hyderabad 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%

February 2018 – Week 1 (1st – 4th):

The month began in Hyderabad with the white metal trading at Rs.42,600 per kg on the 1st after the US dollar weakened ahead of the US employment data. This was also the lowest monthly figure recorded in the city.
Silver rates remained unaltered at Rs.42,600 per kg on the 2nd owing to strong domestic demand amid the positive global cues.
However, the US dollar index rose against other emerging currencies after the US payrolls data proved to be stronger than expected. This led to silver prices plunging to Rs.41,700 per kg on the 3rd.
Thanks to the subdued but steady demand from industries and coin manufacturers, the rest of the week saw the industrial metal prices holding steady at Rs.41,700 per kg on the 4th.

February 2018 – Week 2 (5th – 11th):

When trading commenced for the second week, silver was priced relatively lower at Rs.41,500 per kg on the 5th after demand for the metal declined amid weak global cues.
Though rates rose to Rs.41,900 per kg the next day, silver prices plunged to Rs.41,400 per kg on the 7th with the US dollar index rising against other apex currencies in the international market.
Poor trends overseas compounded by weak demand resulted in silver rate in Hyderabad dropping further to Rs.40,800 per kg on the 8th.
The 9th saw the white metal rates rebounding to Rs.41,000 per kg following an unexpected incline in domestic demand despite the poor trend overseas.
However, with the dollar and equities market performing well in the international trade, silver price in Hyderabad in Hyderabad plummeted to Rs.40,600 per kg on the 10th. This was also the lowest recorded monthly figure in the city.
The week concluded with the industrial metal trading at Rs.40,600 per kg on the 11th with poor demand amid the weak trends overseas.

February 2018 – Week 3 (12th – 18th):

Poor dollar performances coupled with weakly performing equities resulted in silver prices rising considerably during the course of the week.
The week began with silver priced relatively higher at Rs.40,900 per kg on the 12th with the US dollar losing ground ahead of the US inflation data.
The next couple of days saw silver rate in Hyderabad rising after markets awaited the inflation data for clues on the pace of Fed rate hikes during the year. The white metal was recorded trading at Rs.41,300 per kg on the 13th before rising to Rs.41,400 per kg on the 14th amid the positive trends overseas.
Silver price in Hyderabad surged to Rs.41,800 per kg on the 15th before plunging to Rs.41,700 per kg on the 16th with the US dollar strengthening following the US inflation data.
With investors and traders gravitating on safe-haven assets to hedge against inflation concerns, demand for the metal surged. This led silver prices holding steady at Rs.41,700 per kg for the remainder of the week.

February 2018 – Week 4 (19th – 25th):

The fourth week commenced with the industrial metal priced at Rs.41,600 per kg on the 19th.
However, silver rate in Hyderabad plunged to Rs.41,200 per kg the next day after the US dollar strengthened against other emerging currencies.
Though rates remained untouched at Rs.41,200 per kg on the 21st amid the poor trends overseas, silver prices rebounded to Rs.41,400 per kg the next day with an increase in demand from local industries and coin manufacturers.
Silver price in Hyderabad surged further to Rs.41,600 per kg on the 23rd with the US dollar index and equities market losing in the international market.
The 24th saw rates declining slightly to Rs.41,500 per kg after domestic demand stabilized amid the firm trends overseas.
Thanks to steady demand from industries and coin makers, the rest of the week saw silver trading firm at Rs.41,500 per kg amid the positive trend overseas.

February 2018 – Week 5 (26th – 28th):

When trading commenced for the last week, silver price in Hyderabad were recorded holding at Rs.41,600 per kg on the 26th.
With markets eyeing on the Federal Reserve Chairman Jerome Powell’s first congressional testimony, the US dollar weakened. This led to silver rate in Hyderabad surging to Rs.41,700 per kg on the 27th.
The month came to an end with the industrial metal trading at Rs.41,200 per kg on the 28th as the US dollar strengthened after Jerome Powell vowed to save the country’s economy from overheating while sticking to planned Fed rate hikes.
Silver trade in Hyderabad registered a loss of 3.28% during the course of the month.

Trend of Silver Rate in Hyderabad 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%

January 2018 – Week 1 (1 – 7):

Silver prices in Hyderabad witnessed a steady rise in prices this week due to an increased demand from local coin makers and industrial units.
When the month began, silver was priced at Rs.38,925 per kg, this rose to Rs.39,115 per kg on the 2nd as purchases increase.
On the 3rd, silver price in Hyderabad fell very slightly to Rs.39,110 per kg, before going up marginally to Rs.39,115 per kg on the 4th.
Silver rate in Hyderabad rose on the 5th to hit Rs.39,265 per kg as demand was on the rise – a considerably strong rise compared to sub-par performance of the previous few days.
This 6th and the 7th of January saw silver rates rise to Rs.39,355 per kg and hold on at this rate till the closing hours of the week.

January 2018 – Week 2 (8 – 14):

Silver was recorded trading at Rs.39,265 per kg when the second week of January began on the 8th.
However, silver price in Hyderabad dropped to Rs.39,110 per kg on the 9th after equity markets strengthened amid a strong dollar index, causing demand to drop.
Silver rates continued to hold at Rs.39,110 per kg levels over the next few days as demand from industrial units and coin manufacturers remained steady.
Silver rates in the nizam city surged to Rs.39,265 per kg before rising further to Rs.39,355 per kg on the 13th as the US dollar seemed to weaken amid growing concerns in the US.
Strong industrial demand coupled with a positive trend overseas led to silver rates continue at at Rs.39,355 per kg at the time of the week’s closing on the 14th of January.

January 2018 – Week 3 (15 – 21):

The third week of January started strongly due to a sudden burst in demand but rates fell as the week progressed and demand took a hit.
SIlver was seen trading at Rs.39,680 per kg – a Rs.325 per kg incline – when trading commenced for the week.
As mentioned above, rates seemed to be on the decline for much of the week after a strong start.
Over the 16th and the 17th of January, silver rate in Hyderabad held on at Rs.39,670 per kg as demand seemed to drop amid poor sales.
Prices took a hit again on the 18th and they went down to Rs.39,265 per kg as local investors backed out from purchases as the US dollar seemed to rally.
At the time of closing, on the 21st, the white metal was seen trading at Rs.39,265 per kg.

January 2018 – Week 4 (22 – 28):

Due to a lack of clear stimulus silver rates saw little change over the fourth week of January – following the same trend as the previous week.
The week, however, began strongly with the metal being priced at Rs.42,000 as markets opened for the week on the 22nd of January.
Silver continued to trade at Rs.42,000 per kg on the 23th as demand from local investors was steady.
The 24th saw prices change by Rs.200, which was evident with the Rs.42,200 per kg closing rate seen at the time of closing.
Overnight trading positions towards the 25th of January pushed silver prices to surge to Rs.43,100 per kg.
Silver rates held on at Rs.43,100 per kg as demand from all investor circles – i.e., coin makers, jewellers, and industries remained flat.

January 2018 – Week 5 (29 – 31):

When trading began for the final week in January, silver was priced at Rs.42,700 per kg.
Silver prices fell to Rs.42,200 per kg on the 30th – the second day of this week as the US dollar remained strong, thanks to a firm equity market.
The 31st too saw silver rates continue at Rs.42,200 as the demand form the previous day continued to flourish.
Strong global cues and a strong local demand heralded a record-breaking change in prices for the month of January.
There was an 8.41% change in silver prices this month, one of the highest seen over the past few years.