Silver Price Chart For Last 20 Years In India
Silver is a precious metal that has been used for centuries as a form of currency, jewelry, and investment. Its value is determined by various factors, including supply and demand, global economic conditions, and geopolitical events. In India, silver has played an important role in the country's history and culture. Let's take a look at the silver price chart for the last 20 years in India.
2001-2005
In 2001, the average price of silver in India was around Rs. 200 per 10 grams. Over the next few years, the price fluctuated between Rs. 200 and Rs. 400 per 10 grams. In 2004, the price crossed Rs. 500 per 10 grams for the first time. By the end of 2005, the price had stabilized at around Rs. 600 per 10 grams.
2006-2010
The price of silver continued to rise in the late 2000s, reaching a peak of around Rs. 1,000 per 10 grams in early 2008. However, the global financial crisis led to a drop in demand for silver, and the price fell to around Rs. 400 per 10 grams by the end of 2008. Over the next few years, the price gradually rose to around Rs. 750 per 10 grams by the end of 2010.
2011-2015
In 2011, the price of silver hit an all-time high of around Rs. 75,000 per kg. This was due to a combination of factors, including a weak US dollar, high demand from investors, and concerns about inflation. However, the price started to decline in the following years, reaching around Rs. 35,000 per kg by the end of 2015.
2016-2020
The price of silver remained relatively stable in the early 2010s, fluctuating between Rs. 35,000 and Rs. 45,000 per kg. However, in 2016, the price started to rise again, reaching around Rs. 50,000 per kg by the end of the year. The price continued to rise in the following years, reaching around Rs. 70,000 per kg by mid-2018. However, the price started to decline in late 2018, reaching around Rs. 40,000 per kg by the end of 2019. In 2020, the price rose again due to the COVID-19 pandemic and global economic uncertainty, reaching around Rs. 75,000 per kg by mid-year.
Conclusion
The silver price chart for the last 20 years in India shows that the price of silver has been volatile, with periods of rapid growth followed by sharp declines. However, despite these fluctuations, silver remains a popular investment option for many Indians, as it is a tangible asset that can provide a hedge against inflation and economic uncertainty.