Often referred to as “poor man’s gold” silver also known as white precious metal is looked upon as a valuable and safe investment option across the country including Vijayawada in Andhra Pradesh. Over 60% of silver is bought in rural India. Vijayawada is a major trading and business hub in Andhra Pradesh and has gained more prominence after the bifurcation of the erstwhile united Andhra Pradesh. Silver is widely used in Vijayawada during festive occasions and is most prominent in the display of idols made of silver in addition to traditional silver plates used during various festivities. Silver rates in Vijayawada are influenced by various factors that have global implications. The city currently has a large buyer base for silver and related products.
Trend of Silver Rate in Vijayawada for April 2018 (rates per kg)
| Parameters | Silver price (per kg) |
| April 1 Rate | Rs.41,400 per kg |
| April 30 Rate | Rs.42,300 per kg |
| Highest Rate in April | Rs.43,800 per kg on 20 and 22 April |
| Lowest Rate in April | Rs.41,000 per kg on 5 April |
| Overall Monthly Performance | Incline |
| Percentage Change | 2.17% |
Trend of Silver Rate in Vijayawada 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 Vijayawada 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 opened in Vijayawada with the white metal trading firm at Rs.42,600 per kg on the 1st of January. This was also the highest recorded monthly figure in the city.
- Strong global cues coupled with steady demand from coin manufacturers led to silver rates remaining untouched at Rs.42,600 per kg on the next day.
- The 3rd, however, saw silver prices dropping to Rs.41,700 per kg with the US dollar rising against a basket of currencies as a highly anticipated US payrolls data indicated a rise in jobs contributing to the US economy.
- Thanks to steady demand from coin makers and industries amid firm overseas trends, prices remained untouched at Rs.41,700 per kg on the 4th.
February 2018 – Week 2 (5th – 11th):
- Trading opened for the second week with the white metal priced at Rs.41,500 per kg on the 5th with demand taking a hit amid the strengthening US dollar and rising equities.
- The 6th, however, saw silver rates in Vijayawada rising to Rs.41,900 per kg with an incline in industrial offtake amid firm global cues.
- But with the US dollar regaining lost ground against other apex currencies, demand for the metal declined over the next few days.
- Silver was priced at Rs.41,500 per kg on the 7th before plunging to Rs.40,800 per kg on the 8th amid the weak trend overseas.
- Prices rebounded to Rs.41,000 per kg on the 9th before dropping again to Rs.40,600 per kg on the 10th due to a decline in demand brought about by the dominating US dollar index.
- Poor demand coupled with weak global trends led to silver rates remaining untouched at Rs.40,600 per kg on the 11th.
February 2018 – Week 3 (12th – 18th):
- Silver rates rose considerably following an increase in demand was brought about by the weakening dollar and equities during the week.
- When trading began for the week, the industrial metal prices were recorded holding at Rs.40,900 per kg on the 12th.
- With the inflation data around the corner, investors and traders refrained from making purchases. This led to the US dollar losing against other currencies and silver was priced at Rs.41,300 per kg on the 13th.
- With markets mulled over ahead of the US ahead and eyeing on clues on the pace of the Fed rates hikes from the report, silver rates rose to Rs.41,400 per kg on the 14th.
- Strong trends overseas coupled with an increased demand from coin manufacturers and industries led to silver prices in Vijayawada rising further to Rs.41,800 per kg the following day.
- The inflation data, however, backfired on the economy with a possible inflation crisis during the year. This led to silver being priced at Rs.41,700 per kg on the 17th.
- With stockists and traders gravitating on safe-haven assets to hedge against inflation concerns, demand for the metal remained strong. This led to the white metal prices holding steady at Rs.41,700 per kg for the remainder of the week.
February 2018 – Week 4 (19th – 25th):
- Trading began for the week with the industrial metal priced tad lower at Rs.41,600 per kg on the 15th with the US greenback recovering from its previous week’s rally of losses.
- Prices plunged to Rs.41,200 per kg the next day with demand taking a hit amid the strengthening US dollar and rising equity markets.
- However, with markets concerned over a possible US government shutdown, the US dollar weakened. This led to silver being priced at Rs.41,400 per kg on the 22nd.
- The 23rd witnessed silver rates surging further to Rs.41,600 per kg with demand picking up amid the weakening US dollar and equities market.
- The next couple of days saw silver trading firm at Rs.41,500 per kg with strong and steady demand from industrial units and coin makers amid positive trends overseas.
February 2018 – Week 5 (26th – 28th):
- When trading began for the last week of February, the industrial metal was recorded trading at Rs.41,600 per kg on the 26th owing to an increased demand brought about by positive overseas trends.
- With markets remaining cautious ahead of the US Federal Reserve chairman Jerome Powell’s first congressional address to the nation, the dollar weakened. This led to silver prices in Vijayawada rising to Rs.41,700 per kg on the 27th.
- However, the dollar rose against a basket of other emerging currencies with the new Fed chief promising to save the nation’s economy from overheating while sticking to planned interest rate hikes. This led to silver rates plunging to Rs.41,200 per kg on the last day.
- Silver prices in Vijayawada declined by 3.28% due to the poor global cues that pushed demand lower during the course of the month.
Trend of Silver Rate in Vijayawada 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 (1st – 7th)
- Silver prices in Vijayawada 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 prices 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 Vijayawada 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 (8th – 14th)
- Silver was recorded trading at Rs.39,265 per kg when the second week of January began on the 8th.
- However, silver price in Vijayawada 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 Andhra Pradesh 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 (15th – 21st)
- 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 rates 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 (22nd – 28th)
- Due to a lack of clear stimulus silver rate in Vijayawada 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 (29th – 31st)
- When trading began for the final week in January, silver was priced at Rs.42,700 per kg. This was also the highest gold rate for the month.
- Silver price in Vijayawada 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 rate in Vijayawada continue at Rs.42,200 as the demand form the previous day continued to flourish.
- There was a 8.41% change in silver prices this month, one of the highest seen over the past few years.
