Silver Rate in India

Trend of Silver Rate in India for February 2018 (rates per kg)

February 2018 – Week 1 (1st – 4th)

• Trading began in India with silver priced at Rs.42,600 per kg on the 1st with an increase in offtake by industrial units and coin makers.
• Prices remained untouched at Rs.42,600 per kg on the 2nd with steady industrial demand for the white metal.
• The 3rd, however, saw silver rate in India plunging to Rs.41,700 per kg after the US dollar gained against other apex currencies ahead of the highly optimistic US employment data.
• The week concluded with silver holding at Rs.41,700 per kg on the 4th with steady demand from industries and coin manufacturers.

February 2018 – Week 2 (5th -11th)

• The white metal traded at Rs.41,500 per kg in India when trading commenced for the 5th of February.
• Silver rate in India surged to Rs.41,900 per kg on the 6th due to demand increasing from from coin makers and industrial units went up.
• The 7th saw demand drop, pushing silver prices down to Rs.41,400 per kg. This dropped further by Rs.600 the next day to Rs.40,800 per kg as demand failed to pick up.
• On the 9th, silver price in India solidified marginally for the metal to trade at Rs.41,000 per kg but a falling demand caused rates to drop to Rs.40,600 per kg on the 10th.
• The final day of this week saw little change in demand, which led to silver prices remaining at Rs.40,600 per kg.

February 2018 – Week 3 (12th – 18th)

• The week commenced in India with silver trading at Rs.40,900 per kg on the 12th amid the weakening US dollar equities ahead of the US inflation data during the week.
• With the US dollar losing against a basket of other emerging currencies, silver price in India rose to Rs.41,300 per kg on the 13th which surged further to Rs.41,400 per kg on the 14th amid the firm overseas trends.
• The 15th saw silver rate in India rising for the fourth straight session with the US dollar touching near two-month lows in the world market. The industrial metal was recorded trading at Rs.41,800 per kg.
• However, with the US dollar gaining marginally following the release of the US price data, silver rate in India plunged to Rs.41,700 per kg on the 16th.
• The rest of the week witnessed the white metal holding firm at Rs.41,700 per kg with steady demand from industrial units and coin manufacturers.

February 2018 – Week 4 (19th – 25th)

• Silver opened at Rs.41,600 per kg on the 19th of February, but dropped to Rs.41,200 per kg during the next day’s trade.
• The white metal opened at RS.41,200 per kg on the 21st as well before rising to Rs.41,400 per kg on the 22nd as demand surged after the Fed Reserve minutes were being unveiled.
• On the 23rd, silver rate in India went up to Rs.41,600 per kg before falling to Rs.41,500 per kg on the 24th of the month.
• The final day of this week saw gold rate in India drop to Rs.41,500 per kg as demand seemed to decline slightly.

February 2018 – Week 5 (26th – 28th)

• Trading began for the week with silver priced at Rs.41,600 per kg on the 26th amid firm overseas trends.
• However, with the US dollar index rising against other apex currencies, silver rate in India rose to Rs.41,700 per kg on the 27th.
• The month came to an end with the industrial metal being priced as low as Rs.41,200 per kg on the 28th owing to the strengthening US dollar and firmer equities.
• Indian registered a decline of 3.28% in silver rates during the month.

Trend of Silver Rate in India for January 2018 (rates per kg)

January 2018 – Week 1 (1st – 7th)

• Silver price in India saw a gradual growth over the course of the week, thanks to steadily increasing demand from local industries and coin makers.
• On the 1st of January, silver rate in India was Rs.38,925 per kg, which then rose to Rs.39,115 per kg on the 2nd.
• The 3rd saw a brief blip in prices, which led to the metal trading at Rs.39,110 per kg. But, as demand increased, silver rates in India went up to Rs.39,115 per kg on the 4th.
• Silver rate in India rose again on the 5th to hit Rs.39,265 per kg as demand was on the rise.
• Over the final two days of this week, silver rates were seen holding at Rs.39,355 per kg.

January 2018 – Week 2 (8th – 14th)

• When the second week began silver was recorded trading at Rs.39,265 per kg on the 8th of January.
• However, silver price in India dropped to Rs.39,110 per kg on the 9th after equity markets strengthened amid a strong dollar index.
• Silver rate in India remained unchanged at Rs.39,110 per kg for the next couple of days owing to steady demand from industrial units and coin manufacturers.
• On the 12th, prices surged to Rs.39,265 per kg before rising further to Rs.39,355 per kg on the 13th following a decline in the US dollar value.
• Strong industrial demand coupled with a positive trend overseas led to silver rates in India hold steady at Rs.39,355 per kg when the week concluded on the 14th.

January 2018 – Week 3 (15th – 21st)

• Silver opened at Rs.39,680 per kg when the week began. Rates, however, seemed to be on the decline for the rest of the week.
• The 16th and the 17th saw silver rate in India hold at Rs.39,670 per kg as demand seemed to drop, owing to poor sales.
• Silver prices in India went down again on the 18th to hit Rs.39,265 per kg as local investors backed out in numbers.
• Prices remained at the Rs.39,265 per kg for the remaining days of the week.

January 2018 – Week 4 (22nd – 28th)

• In India, silver price failed to see too many changes as demand largely remained steady.
• On the 22nd of January, silver was priced at Rs.42,000.
• With demand from local buyers holding steady, silver continued to trade at Rs.42,000 per kg on the 23th of January.
• The 24th witnessed some change in prices, albeit a Rs.200 one, as prices were recorded at Rs.42,200 per kg at the time of closing.
• Changes in overnight trading positions cause silver price in India to increase to Rs.43,100 per kg when markets opened on the 25th. As demand from local coin makers and industrial units remained steady, silver prices didn’t see any changes.
• From the 26th to the 28th of January, silver rate in India continued at Rs.43,100 per kg as demand from all concerned parties remained flat.

January 2018 – Week 5 (29th – 31st)

• When trading began for the last week in India, silver was priced at Rs.42,700 per kg on the 29th.
• A rise in the US dollar index coupled with firmer equity markets led to silver rate in India dropping to Rs.42,200 per kg on the 30th.
• Prices remained unchanged at Rs.42,200 per kg on the 31st with steady demand for the metal from industrial units and coin makers.
• The month of January saw silver rate in India inclining by 8.41% owing to the strong global cues that pushed demand higher for the white metal.