Silver Rate in Chandigarh

  • Today's Silver Rate In Chandigarh ( 15 Aug 2020 )

    ₹ 66.95
    Today's Silver Rate per gram

    Compare Silver Rate In Chandigarh (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Silver (1 gram) ₹ 66.95 ₹ 65.01 ₹ 1.94 ↑
    Bar Silver (1 Kg) ₹ 66,950 ₹ 65,010 ₹ 1,940 ↑

    Silver Price In Chandigarh for Last 10 Days

    Date Silver (1 gram) Bar Silver (1 Kg)
    14 Aug 2020 ₹ 66.95 ₹ 66,950
    13 Aug 2020 ₹ 65.01 ₹ 65,010
    12 Aug 2020 ₹ 72.55 ₹ 72,550
    11 Aug 2020 ₹ 75.16 ₹ 75,160
    10 Aug 2020 ₹ 74.22 ₹ 74,220
    09 Aug 2020 ₹ 74.21 ₹ 74,210
    08 Aug 2020 ₹ 76.52 ₹ 76,520
    07 Aug 2020 ₹ 73.51 ₹ 73,510
    06 Aug 2020 ₹ 71.51 ₹ 71,510
    05 Aug 2020 ₹ 65.06 ₹ 65,060

    Weekly & Monthly Graph of Silver Rate in Chandigarh

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    • 3 Months
    • 6 Months

    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Trend of Silver Rate in Chandigarh for July 2020 (rates per kg)

    Parameters Silver Price (per kg)
    July 1 Rate Rs.48,560 per kg
    July 31 Rate Rs.63,010 per kg
    Highest Rate in July Rs.66,060 per kg on 30 July
    Lowest Rate in July Rs.48,510 per kg on 5 July
    Overall Monthly Performance Incline
    Percentage Change 29.75%

    Trend of Silver Rate in Chandigarh for June 2020 (rates per kg)

    Parameters Silver Price (per kg)
    June 1 Rate Rs.50,120 per kg
    June 30 Rate Rs.48,510 per kg
    Highest Rate in June Rs.50,160 per kg on 2 June
    Lowest Rate in June Rs.47,110 per kg on 16 June
    Overall Monthly Performance Decline
    Percentage Change -3.21%

    Trend of Silver Rate in Chandigarh for May 2020 (rates per kg)

    Parameters Silver Price (per kg)
    May 1 Rate Rs.42,530 per kg
    May 31 Rate Rs.50,100 per kg
    Highest Rate in May Rs.51,400 per kg on 25 May
    Lowest Rate in May Rs.41,010 per kg on 2 May
    Overall Monthly Performance Incline
    Percentage Change 17.79%
    • On 1 May 2020, the price of silver in Chandigarh was at Rs.42,530 for a kg. The next day, silver hit its lowest rate for the month and was at Rs.41,010 per kg. The improvement for riskier assets was the reason for the prices to decrease. Over the next three days, the prices of gold increased and were at Rs.41,520 for a kg by 5 June 2020. However, silver prices reduced by the end of the week because of the easing in lockdown restrictions and investors moving towards riskier assets. The prices of the white metal were mostly stable because of a firm dollar and the tensions between China and the US over the coronavirus outbreak.
    • In the second week of the month, silver rates in the city opened at Rs.42,060 for a kg and closed at Rs.42,960 for a kg. On 9 May 2020, the prices of the white metal saw a huge jump and were at Rs.43,510 per kg. After increasing slightly the next day, silver hit its highest rate for the week on 11 May 2020 and was at Rs.43,620 for a kg. The fears of a global recession because of a weak employment data was the main reason for the prices to increase. Over the last few days of the week, the prices of silver reduced due to an increase in oil prices. Investors moved towards riskier assets as there were expectations that the economy would improve.
    • Silver prices opened the third week of the month at Rs.43,160 per kg. The prices of the white metal increased significantly on the next day and were at Rs.46,900. The main reason for the increase in prices was the fears of a global recession because of the increase in coronavirus cases. After decreasing slightly over the next two days, silver saw a huge jump in its rates and was at Rs.48,510 per kg on 19 May 2020. The prices of silver increased due to the tensions between China and the US over the coronavirus pandemic. Siver closed the week at Rs.48,200 per kg.
    • On 22 May 2020, the prices of silver increased slightly and were at Rs.48,250 per kg. Over the next two days, silver rates increased and were at Rs.48,360 per kg by 24 May 2020. On 25 May 2020, silver hit its highest rate for the month and was at Rs.51,400 per kg. The tensions between China and the US escalated because of the protests in Hong Kong. Various measures introduced by Central Banks all over the world also helped in the prices of silver to increase. The volatile economy ensured that investors moved away from riskier assets. Over the next few days, the prices of silver reduced and were at Rs.47,910 for a kg by 29 May. The prices of silver increased by the end of the month and closed at Rs.50,100 per kg, seeing a 17.79% incline in its rates.

    Trend of Silver Rate in Chandigarh for April 2020 (rates per kg)

    Parameter Silver price
    April 1 Rate  Rs.40,500 per kg
    April 30 Rate  Rs.41,520 per kg
    Highest Rate in April Rs.42,710 per kg on 21 April
    Lowest Rate in April Rs.40,360 per kg on 6 April
    Overall Performance  Incline
    Percentage Change 2.51%
    • On 1 April 2020, the prices of silver in Chandigarh was at Rs.40,500 for kg. After remaining steady over the next four days, the price of silver decreased by the end of the week. In the first week, the prices of silver were steady initially because of the coronavirus outbreak and the fears of a global recession. This ensured that investors considered the white metal as a safe haven. However, the prices of silver decreased by the end of the week because of a strong US dollar and investors moving towards the equities market. A reduction in coronavirus deaths also ensured that investors moved towards stock markets. On 6 April 2020, silver hit its lowest rate for the month and was at Rs.40,360 for a kg.
    • In the second week of the month, silver prices were at Rs.41,100 for a couple of days before increasing to Rs.41,310 per kg by the end of the week. This was due to the anticipation of the OPEC meet and the several measures that were introduced by the US Federal Reserve to help the economy. The measures introduced by Central Banks also ensured a boost in equities. Even though the prices were steady, there were signs that it may increase because of the fears of a global recession as the coronavirus outbreak continued across the world. This resulted in the prices of silver remaining high.
    • In the third week of the month, silver prices continued to see an upward trend. On 21 April 2020, silver hit its highest rate for the month and was at Rs.42,710 for a kg. The dip in oil prices and the low appetite for riskier products were the main reasons for the increase in prices. This led to investors considering the white metal as a safe haven. The fears of a global recession also ensured that the prices of silver increased.
    • In the fourth week of April, the prices of silver were steady because of a weak US dollar and the coronavirus crisis. The tensions between China and the US further increased the appeal for silver and weakened the equities market. By 30 April 2020, the price of silver in Chandigarh was at Rs.41,520 for a kg. Overall, silver saw its prices increase by 2.51% over the course of the month.

    Trend of Silver Rate in Chandigarh for March 2020 (rates per kg)

    Parameters Silver Price (per kg)
    March 1 Rate Rs.47,400 per kg
    March 31 Rate Rs.40,500 per kg
    Highest Rate in March Rs.50,700 per kg on 6 March
    Lowest Rate in March Rs.37,800 per kg on 19 March
    Overall Monthly Performance Decline
    Percentage Change -14.55%
    • Silver prices in Chandigarh opened at Rs.47,400 per kg on the first day of March. When compared to the last day of the month of February, there were no changes in the prices of the white metal.
    • The prices of silver rose thereafter and recorded its highest on March 6, 2020 at Rs.50,700 after reports that US Federal Reserve will cut interest rates in order to counter the effect of Covid-19 on the global markets. This news had a tremendous impact on the global markets following which the prices of the white metal shot up.
    • The prices of silver dropped after that as investors embarked on a selling spree which resulted in the prices of silver falling. The lowest rate in March for Silver was recorded on March 19 as markets all around the world suffered due to the outbreak of Coronavirus all over the world.
    • The prices of silver closed at Rs.40,500 per kg on the last day of the month which rounded off a disappointing month as the global markets fought the effects of Covid-19.
    • Overall, the prices of silver in the city of Chandigarh declined by 14.55%.

    Trend of Silver Rate in Chandigarh for February 2020 (rates per kg)

    Parameters Silver Price (per kg)
    February 1 Rate Rs.50,300 per kg
    February 29 Rate Rs.47,400 per kg
    Highest Rate in February Rs.52,900 per kg on 24 February
    Lowest Rate in February Rs.47,400 per kg on 29 February
    Overall Monthly Performance Decline
    Percentage Change -5.76%
    • Silver opened at a high price of Rs.50,300 per kg in Chandigarh in February, with the coronavirus outbreaking threatening to become a pandemic, thus boosting the appeal of safe-haven investments such as silver.
    • The highest price of silver in February was Rs.52,900 per kg on 24 February, with global equities too taking a hit as the coronavirus spread to Europe, the Middle East, and South Korea as well.
    • The lowest price in February was Rs.47,400 per kg on 29 February as investors liquidated their assets on the back of the coronavirus threat.
    • The performance of silver overall in February in Chandigarh was on a decline with a percentage change of –5.76% in keeping with the fears around the coronavirus outbreak spreading to the rest of the world.

    Trend of Silver Rate in Chandigarh for January 2020 (rates per kg) 

    Parameters Silver Price (per kg)
    January 1 Rate Rs.50,300 per kg
    January 31 Rate Rs.50,200 per kg
    Highest Rate in January Rs.52,600 per kg on 8 January
    Lowest Rate in January Rs.49,200 per kg on 30 January
    Overall Monthly Performance Decline
    Percentage Change -0.19%
    • With optimism increasing around the US-China trade deal, and the dollar slipping, the price of silver opened in the month of January at a high of Rs.50,300 per kg in Chandigarh.
    • The highest rate for the month was Rs.52,600 per kg which was on 8 January 2020, just as fears around a US-Iran military confrontation subsided, thus giving investors the confidence to look at more riskier investments.
    • The lowest rate in January was by the end of the month, as silver prices fell to Rs.49,200 per kg in Chandigarh with fears of the Coronavirus outbreak in the air resulting in speculation of a possible slowdown for the economy in China.
    • The overall performance of silver was a downward trend, with a change in percentage of –0.19% throughout the month.

    Also Check Silver Price in NearBy Cities of Chandigarh

    Silver Price in Chandigarh

    People in Chandigarh prefer buying silver as it is affordable when compared to gold. It also provides better returns than gold. Silver prices will steadily rise in the medium to long term as the bullion rises. It has managed to remain stable all over the world during the times of financial uncertainty. Silver has also been called as the ‘poor man’s gold’ due to its availability and low pricing in Chandigarh.

    Silver as an Investment:

    Jewelry - Buying silver as a jewelry or artefact is a common habit in India. A lot of households use silver cutlery. Women like wearing silver ornaments. But, when you resell the jewelry, the making charges of about 10% is deducted and a melting charges is levied, which lowers the silver jewelry’s rate of return.

    Coins and bars - Silver can be bought in coins and bars. Silver coins are used in India for gifting or during the puja ceremonies in certain religion. The silver purchases are high during the wedding season.

    The banks on the other hand also offer silver coins and bars and give an assay certification as well, but they won’t buy the silver back from you. Whereas, dealers and jewelers will buy the silver back from you.

    Silver bullion - You can buy small quantities of pure silver at Bullion India at the lowest possible price with an option for free storage for no fee or brokerage. The market rates are reasonable and the quality is assured. It is easy to open and operate the account as minimum documentation is required. You can redeem the holding and take physical delivery of the bullion at your doorstep.

    The rates are based on various indicators and information provided. People tend to buy silver despite the prices being high as they believe that the silver bullion value will rise in the future.

    Where can you Buy Silver from in Chandigarh

    You can buy silver in Chandigarh at Kalyan Jewellers, Tanishq, Raj Sons Jewellers, Delhi Jewellers, Subash Chander Deluxe Jewellers Verma, B R Jewellers, Malik Jewellers, Shree Jewellers, Talwarsons Jewellers, etc. The jewelers will offer silver in the form of ornament, coins, bars and in any other customized form that the customer will require.

    Read more on Silver

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