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Trend of Silver Rate in Chandigarh for July 2017 (rates per kg)
|Parameters||Silver price (per kg)|
|July 1st Rate||Rs.38,640 per kg|
|July 31st Rate||Rs.38,640 per kg|
|Highest Rate in July||Rs.38,690 per kg on 3 July|
|Lowest Rate in July||Rs.36,035 per kg on 10 July|
|Overall Monthly Performance||No change|
July 2017 - Week 1 (1st to 9th)
- Silver prices in Chandigarh opened at Rs.38,640 per kg when the month began.
- Due to sustained buying from domestic jewellers and industrial units, rates remained unchanged on the 2nd.
- The 3rd witnessed silver prices hit a monthly high figure of Rs.38,690 per kg. This development was due to a poor performance on the part of the US dollar, which had reached near nine-month low figures.
- Silver prices fell to Rs.37,705 per kg on the 4th before going up to Rs.37,800 as strong international demand led to a hike in local trading prices.
- Rates sustained at Rs.37,115 per kg towards the end of the week as a positive US job data pushed dollar exchange values up considerably.
July 2017 - Week 2 (10th - 16th)
- The 10th of July saw silver trade at Rs.36,035 per kg - the lowest rate for the month - as US markets strengthened amidst a positive outlook.
- Rates, however, increased from the 11th onwards as media reports were ripe with claims that US President Trump’s family had colluded with Russia to win the election.
- The 12th again led to prices increasing as US dollar tanked, which subsequently led to increased buying in the local market.
- Silver prices in Chandigarh were holding at Rs.36,920 per kg on the 12th and 13th as investors decided to use the situation to their advantage.
- On the 14th, prices dipped to Rs.36,270 per kg as demand seemed to reach saturation levels.
- That notion, though, was short lived as purchases ramped up on the 15th to drive prices up to Rs.37,180 per kg as US economic data was headed for a fall.
July 2017 - Week 3 (17th - 23th)
- On the 17th, when the third week began, silver was priced at Rs.37,180 per kg, which then spiked to Rs.37,600 per kg on the 18th.
- The 19th also maintained the positive growth with rates going up to Rs.37,705 per kg before a slowed down purchase brought rates down to Rs.37,600 per kg on the 20th.
- Investors, particularly those from industries and the jewellery segment, began purchasing silver more on the 21st, which led to the metal trading at Rs.37,800 per kg.
- The week ended with the metal trading at Rs.38,005 per kg.
July 2017 - Week 4 (24th - 31st)
- The final week’s trading began with silver opened at Rs.38,120 per kg due to subdued demand from industries and jewellers.
- Rates went up to Rs.38,230 per kg on the 25th before going down to Rs.38,120 per kg because various sections of investors were waiting for a price correction.
- Silver rates were on the ascent on the 27th with prices reaching as high as Rs.38,690 per kg but decline considerably over the last few days of the month.
- The month ended with the white metal trading at Rs.38,640 per kg. Overall, price trends in the port city of Chandigarh saw a 0% change as prices picked up towards the latter half of the month after a fall during the initial days of the month.
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.
Silver Price in Chandigarh
Silver rate as of 16th June, 2015 for 1 gram was Rs.39.36. The silver rates were at the highest at Rs.45,600 per kg in July 2014 and the lowest at Rs.35,990 in December 2014. The average value of silver over the last one year has been around Rs.39,000 per kg.
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.
Also Check Silver Price in NearBy Cities of Chandigarh
|Silver Rate In Delhi||Silver Rate In Dehradun||Silver Rate In Shimla|
|Silver Rate In Srinagar||Silver Rate In Ludhiana|
|Also Know: Gold Rate in Chandigarh|