Silver, also known as white precious metal is in demand in Ludhiana and sold in many forms to cater to various uses. For many consumers in Ludhiana, silver is a safe haven of investment given that it is believed to be safe during any banking crisis and currency devaluations. Many customers turn to silver to protect their purchasing power during periods of overall high inflation. Silver is widely sold in Ludhiana in the form of intricate and trendy silverware, articles related to traditional rituals, weddings and other festive occasions.
There are several silver jewellery exhibitions held in Ludhiana which offer a wide variety of designs in addition to custom-made items. Silver or ‘poor man’s gold’ is also sought-after by many small investors in Ludhiana given that the white metal is comparatively more affordable than the yellow metal.
Trend of Silver Rate in Ludhiana 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 Ludhiana 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 Ludhiana 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):
- In Ludhiana, the month began with the industrial metal priced at Rs.42,600 per kg on the 1st of February. This was also the highest recorded monthly price in the city.
- With markets cautious ahead of the US jobs data, the US dollar index and equities tumbled in the international trade. This led to silver rates remaining untouched at Rs.42,600 per kg on the 2nd.
- However, the highly anticipated US jobs and payrolls’ data proved to be stronger than expected after indicating a significant rise in the number of jobs contributed to the US economy. This led to the US dollar gaining against a basket of currencies and silver was recorded trading at Rs.41,700 per kg on the 3rd amid the weak global cues.
- When trading concluded for the week, the white metal prices were recorded holding at Rs.41,700 per kg on the 4th with steady demand from industrial units and coin manufacturers.
February 2018 – Week 2 (5th – 11th):
- Trading opened for the second week with silver priced relatively lower at Rs.41,500 per kg on the 5th amid a strong US dollar index and rising equity markets.
- Thanks to an increase in offtake by industries and coin makers, silver rates rose to Rs.41,900 per kg on the 6th of February.
- However, demand plunged with the US dollar dominating over other emerging currencies and silver prices plunged to Rs.41,500 per kg on the 7th which dropped further to Rs.40,800 per kg on the 8th amid the poor trends overseas.
- Prices rebounded to Rs.41,000 per kg on the 9th before plummeting to Rs.40,600 per kg on the 10th after demand for the metal declined amid the strengthening dollar and equities. This was also the lowest recorded monthly price in Ludhiana.
- Poor domestic demand coupled with weak global cues led to silver rates remaining unchanged at Rs.40,600 per kg for the remainder of the week.
February 2018 – Week 3 (12th – 18th):
- The week witnessed silver prices surging significantly with international markets remaining cautious ahead of the US inflation data during the week.
- The week opened with silver rates holding at Rs.40,900 per kg on the 12th after domestic markets ramped up purchases after tracking a positive trend overseas.
- With the US inflation data around the corner, investors and traders refrained from making purchases and eyed on the report for clues on the pace of the Fed rate hikes during the year. This led to a downtrend in the US dollar and silver was priced at Rs.41,300 per kg on the 13th.
- Strong domestic demand compounded by positive overseas trends led to prices rising to Rs.41,400 per kg on the 14th which surged further to Rs.41,800 per kg on the 15th.
- However, with the US dollar regaining lost ground following the release of the inflation data, silver prices in Ludhiana dropped slightly to Rs.41,700 per kg on the 16th.
- Demand for silver surged over the next couple of days with investors and stockists leaning on safe-haven assets in order to hedge against inflation concerns. This led to silver being priced at Rs.41,700 per kg for the rest of the week.
February 2018 – Week 4 (19th – 25th):
- The week began with silver rates in Ludhiana holding at Rs.41,600 per kg on the 19th after the rising US dollar led to a decline in demand for the metal.
- On the 21st, silver rates plunged to Rs.41,200 per kg following poor demand from industrial units and coin makers.
- However, with the US dollar losing against a basket of other currencies amid concerns over a possible US government shutdown, silver prices rose to Rs.41,400 per kg on the 22nd before surging further to Rs.41,600 per kg on the 23rd amid firm overseas trends.
- Prices dropped to Rs.41,500 per kg the next day as demand subsided amid the strengthening US dollar and equities.
- Thanks to steady industrial offtake for the metal, the white metal prices remained untouched at Rs.41,500 per kg until the end of the week.
February 2018 – Week 5 (26th – 28th):
- Firm trends overseas coupled with strong domestic demand led to silver trade opening at Rs.41,600 per kg on the 26th.
- With the US greenback losing against a basket of other apex currencies ahead of the Federal Reserve chairman Jerome Powell’s first congressional testimony, silver rates surged to Rs.41,700 per kg on the 27th.
- The month concluded with the industrial metal trading on a weaker note as the US dollar surged after Jerome Powell promised the nation to save the economy from overheating while sticking to the planned interest rate hikes. Silver was recorded trading at Rs.41,200 per kg on the 28th.
- Ludhiana registered a decline of 3.28% in silver trade during the course of the month.
Trend of Silver Rate in Ludhiana 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):
- When trading began in Ludhiana, silver was recorded trading at Rs.38,925 per kg on the 1st This was also the lowest recorded monthly figure in the city.
- Thanks to steady demand from local coin makers and industrial units, prices remained untouched at Rs.38,925 per kg the next day.
- Silver rate in Ludhiana surged to Rs.39,110 per kg on the 3rd before plunging to Rs.38,995 per kg on the 4th after demand for the metal declined amid the strengthening US dollar.
- However, demand picked up with the dollar index losing against a basket of other emerging currencies towards the end of the week.
- Silver prices rose to Rs.39,265 per kg on the 5th which rose further to Rs.39,355 per kg on the 6th following an increase in demand amid the positive trends overseas.
- Steady demand coupled with strong global cues resulted in silver price in Ludhiana remaining untouched at Rs.39,355 per kg for the remainder of the week.
January 2018 – Week 2 (8th – 14th):
- Silver prices were recorded holding steady at Rs.39,355 per kg on the 8th when the week began amid positive overseas trends.
- However, with the US dollar gaining against other apex currencies in the global markets, demand for the metal declined. This led to the metal being priced Rs.39,115 per kg and Rs.38,925 per kg on the 9th and the 10th respectively.
- However, with demand picking up after an increase in offtake by industries and coin makers, silver price in Ludhiana surged to Rs.39,110 per kg on the 11th.
- Strong global cues coupled with steady domestic demand resulted in the white metal prices remaining untouched at Rs.39,110 per kg the following day.
- Silver rate in Ludhiana rose to Rs.39,265 per kg on the 13th which surged further to Rs.39,355 per kg on the 14th due to a decline in the US dollar index value in the international markets.
January 2018 – Week 3 (15th -21st):
- The third week saw silver prices rising initially before plummeting on poor global cues towards the end of the week.
- Silver was recorded trading relatively higher at Rs.39,680 per kg on the 15th as demand for the metal picked up amid the weakening equities and the US greenback.
- Silver price in Ludhiana dropped slightly to Rs.39,670 per kg on the 16th and continued to remain unchanged at the same rate the next day.
- The US dollar, however, regained lost ground and pushed demand lower for the industrial metal. This led to silver being priced at Rs.39,265 per kg on the 18th.
- Though the white metal prices dropped to Rs.39,115 per kg on the 19th, silver rate in Ludhiana rebounded to Rs.39,265 per kg on the 20th following an uncharacteristic increase in demand in the domestic markets.
- Steady demand from coin manufacturers and industries despite the weak global cues resulted in the industrial metal being priced at Rs.39,265 per kg for the rest of the week.
January 2018 – Week 4 (22nd -28th):
- Strong safe-haven demand compounded by positive global cues resulted in silver rates rising significantly during the week.
- When trading began for the week, the industrial metal was priced at Rs.39,265 per kg on the 22nd.
- Steady domestic demand from local coin makers and industrial units amid the firm trends overseas resulted in the metal prices holding steady at Rs.39,265 per kg until the 24th.
- The 25th, however, saw silver rate in Ludhiana surging to Rs.40,285 per kg on the 25th after investors and traders speculating over possible US government shutdown concerns ramped up safe-haven purchases.
- Thanks to strong global demand amid the strong global cues, silver price in Ludhiana remained untouched at Rs.40,285 per kg until the end of the week.
January 2018 – Week 5 (29th – 31st):
- The final week commenced with silver opening on a stronger note with the metal priced at Rs.42,700 per kg – the highest recorded monthly figure- on the 29th with an increased domestic demand brought about the positive trends overseas.
- However, with markets eyeing on the two-day monetary policy meeting at the US Federal Reserve, the US dollar surged.
- The strengthening greenback coupled with firmer equities resulted in silver rate in Ludhiana holding steady at Rs.42,200 per kg on the 30th and the 31st.
- Silver price in Ludhiana rose by 8.41% owing to the strong trends that pushed rates higher during the month.
