Silver Rate in Chennai Today

Chennai is one of the highest consumers of silver in the country. Most of the consumption is in the form of jewelry or silverware. This is a national trend where most of the imported silver is used more for individual consumption rather than industrial usage.

Todays Silver price in Chennai:

  • 1 gram silver price is 71.40 Indian Rupee
  • 1 kg silver price is 71,400 Indian Rupee
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  • Today's Silver Rate in Chennai ( 25 Jan 2021 )

    ₹ 71.4
    Today's Silver Rate per gram

    Compare Silver Rate In Chennai (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Silver (1 gram) ₹ 71.4 ₹ 71.4 ₹ 0 ↑
    Bar Silver (1 Kg) ₹ 71,400 ₹ 71,400 ₹ 0 ↑

    Silver Price In Chennai For Last 10 Days

    Date Silver (1 gram) Bar Silver (1 Kg)
    25 Jan 2021 ₹ 71.4 ₹ 71,400
    24 Jan 2021 ₹ 71.4 ₹ 71,400
    23 Jan 2021 ₹ 71.4 ₹ 71,400
    22 Jan 2021 ₹ 71.5 ₹ 71,500
    21 Jan 2021 ₹ 71.3 ₹ 71,300
    20 Jan 2021 ₹ 70.7 ₹ 70,700
    19 Jan 2021 ₹ 70 ₹ 70,000
    18 Jan 2021 ₹ 69.7 ₹ 69,700
    17 Jan 2021 ₹ 69.7 ₹ 69,700
    16 Jan 2021 ₹ 70.6 ₹ 70,600

    Weekly & Monthly Graph of Silver Rate in Chennai

    • 7 Days
    • 30 Days
    • 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.

    Silver Price in Chennai

    Silver is among the most popular commodities in India. Silver rate in Chennai, or for that matter other cosmopolitan cities like Mumbai or Delhi, are a reflection of the international silver price as decided by various market dynamics. Silver as a commodity is traded mainly on the MCX or Multi-Commodity Exchange in India, which is also among the top 3 destinations worldwide for silver trading.

    Across the world, more than half the total silver consumption is mainly for industrial purposes, as silver is a highly useful metal with a range of properties that make it attractive for large industries such as manufacturing, medicine etc.

    Silver production in India is minimal and most of the internal demand has to be met through imports. For consumers in Chennai, silver has emerged not only as a metal for jewelry and ornamentation, but also as a safe bet for savings in the long and short run.

    Gold Rate in Chennai

    Historical Trend of Silver Price in Chennai

    Months Lowest Silver Price Per Kg Highest Silver Price Per Kg
    December 2020 64,600 72,300
    November 2020 60,100 70,000
    October 2020 60,210 63,500
    September 2020 58,500 76,500
    August 2020 65,010 76,520
    July 2020 48,510 66,060
    June 2020 47,110 50,160
    May 2020 41,010 51,400
    April 2020 40,360 42,710
    March 2020 37,800 50,700
    February 2020 47,400 52,900
    January 2020 49,200 52,600

    Trend of Silver Rate in Chennai for December 2020 (rates per kg)

    Parameters Silver Price (per kg)
    December 1 Rate Rs.64,600 per kg
    December 31 Rate Rs.72,300 per kg
    Highest Rate in December Rs.74,100 per kg on 21 December
    Lowest Rate in December Rs.63,400 per kg on 10 December
    Overall Monthly Performance Incline
    Percentage Change 11.9%
    • Opening the month of December at Rs.64,600 per kg on 1 December, silver rate in Chennai showed a declining trend in the first week of the month, dipping to its monthly low at Rs.63,400 per kg on 10 December due to a stronger dollar value and vaccine optimism.
    • However, with the rise in COVID-19 cases and tensions surrounding a different strain of the virus, risk appetite dipped amongst the investors and the white metal’s value increased to hit its monthly high at Rs.74,100 per kg on 21 December.
    • At the end of the month, the price of the metal dipped marginally to close the month at Rs.72,300 per kg on 31 December. The white metal showed an overall incline percentage of 11.9.

    Trend of Silver Rate in Chennai for November 2020 (rates per kg)

    Parameters Silver Price (per kg)
    November 1 Rate Rs.60,100 per kg
    November 30 Rate Rs.63,300 per kg
    Highest Rate in November Rs.70,000 per kg on 7 November
    Lowest Rate in November Rs.60,100 per kg on 1 November
    Overall Monthly Performance Incline
    Percentage Change 5.32%
    • Opening at Rs.60,100 per kg on 1 November, silver rate in Chennai was at its lowest during the opening price of the month. However, by 7 November, the price of the metal was at its highest at Rs.70,000 per kg.
    • Silver rates decreased and fluctuated throughout the second week of the month as the number of COVID-19 cases increased in the world with risk appetite dipped amongst investors.
    • At the end of the month, the price of the white metal was at Rs.63,300 per kg on 30 November, closing November with a monthly trend of 5.32%.

    Trend of Silver Rate in Chennai for October 2020 (rates per kg)

    Parameters Silver Price (per kg)
    October 1 Rate Rs.60,700 per kg
    October 31 Rate Rs.61,000 per kg
    Highest Rate in October Rs.63,500 per kg on 21 October
    Lowest Rate in October Rs.60,210 per kg on 8 October
    Overall Monthly Performance Incline
    Percentage Change 0.49%
    • Opening the month at Rs.60,700 per kg on 1 October, silver prices showed an inclining trend for the month. On 8 October, the price of the metal was at its lowest at Rs.60,210 per kg as the value of the dollar rose in the market.
    • With constant fluctuations, the silver rate was at its highest towards the end of the month on 21 October at Rs.63,500 per kg as the risk appetite amongst investors dipped.
    • On 31 October, silver prices dipped marginally and closed at Rs.61,000 per kg, recording a percentage incline of 0.49 for the month.

    Trend of Silver Rate in Chennai for September 2020 (rates per kg)

    Parameters Silver Price (per kg)
    September 1 Rate Rs.76,500 per kg
    September 30 Rate Rs.62,500 per kg
    Highest Rate in September Rs.76,500 per kg on 1 September
    Lowest Rate in September Rs.58,500 per kg on 24 September
    Overall Monthly Performance Decline
    Percentage Change -18.30%

    Details of Silver Price in Chennai for September 2020

    • Silver price in Chennai for the month of September opened at Rs.76,500 per kg on 1 September and showed a declining trend throughout the month. The metal was at its highest on the same date.
    • As the value of the dollar recovered in the market, the demand for silver dipped as risk appetite increased amongst investors. The price of the metal was at its lowest on 24 September at Rs.58,500 per kg.
    • At the end of the month, silver rate recovered and closed at Rs.62,500 per kg on 30 September, recording an overall percentage decline of 18.30.

    Also Check Silver Price in Metro Cities

    Trend of Silver Rate in Chennai for August 2020 (rates per kg)

    Parameters Silver Price (per kg)
    August 1 Rate Rs.65,010 per kg
    August 31 Rate Rs.66,370 per kg
    Highest Rate in August Rs.76,520 per kg on 8 August
    Lowest Rate in August Rs.65,010 per kg on 1 and 13 August
    Overall Monthly Performance Incline
    Percentage Change 2.09%

    Details of Silver Price in Chennai for August 2020

    • Silver rate in Chennai was Rs.65,010 per kg on 1 August which was the lowest price of the metal in the month. The price of the metal increased and hit its monthly high on 8 August at Rs.76,520 per kg.
    • However, with a recovering dollar value, silver price reduced and hit its lowest price again on 13 August at Rs.65,010 per kg.
    • At the end of the month, silver price in Chennai closed at Rs.66,370 per kg, recording an overall percentage incline of 2,09.

    Trend of Silver Rate in Chennai 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%

    Details of Silver Price in Chennai for July 2020

    • Silver rate in Chennai was Rs.48,560 per kg on 1 July and declined to hit its lowest price of the month on 5 July at Rs.48,510 per kg.
    • With the rise in COVID-19 cases all over the world and the value of the dollar dipping in the international market, silver rate inclined due to its safe-haven demand.
    • As the tensions increased between China and the United States of America, silver price in Chennai increased and hit its highest at Rs.66,060 per kg and closed the month at Rs.63,010 per kg on 31 July with an overall incline of 29.75%.

    Also Check Silver Price in NearBy Cities of Chennai

    Trend of Silver Rate in Chennai

    Silver, apart from gold, is one of the most precious metals in Chennai and the people of the city invest in it in the physical form as currency, as well as, an asset. Silver is considered to be a safe-haven asset and has been of great value since a very long time. The white metal is an integral part of the bullion market and is usually dependent on the price of gold apart from other factors. Silver price in Chennai is determined by the price of the metal in the international market along with the trend of the metal in the country.

    Silver market rates in Chennai

    Silver is generally available at 999 purity, which means that out of 1000 parts of the final alloy, 999 parts are pure silver. Silver purity is also calculated in terms of percentage of silver in the material, for instance 99% purity or 990 purity.

    Silver rates in Chennai are decided as per the weight of silver in grams and troy weights. Popular units of measurement include grams, tolas, kilograms, ounces, million ounces, tonnes, short tonnes, metric tonnes etc.

    • Silver prices in Chennai in the past 5 years (price/kg, prices approximated to nearest thousand)
    • Silver prices in Chennai saw a rally in mid-2010 from around Rs.27,000 to a peak of Rs.68,905 in the first quarter of 2011. Prices gradually started to fall after the peak achieved in 2011, and reached sub-Rs.50,000 level in mid-2012. Prices remained more or less the same for the next year, with 2013 witnessing a downward spiral from a high of Rs.56,000 to Rs.40,000 by the end of the year. The downward trend continued for 2014, and the highest silver rate in Chennai during the year was around Rs.46,000, with the year ending at Rs.37,000.

    • Silver rates in Chennai for 2015 (price/kg, prices approximated)
    • Silver prices in Chennai at the start of 2015 were around Rs.36,200. Prices peaked on 21st January at Rs.40,565. February started with Rs.38,360 per kg of silver in Chennai, and ended at Rs.37,210. March month saw the rates mostly remain the same, with the month ending at Rs.37,390. Silver prices rallied at the end of April to cross the Rs.41,000 mark and peaked on 18th May at Rs.43,500. Current price of silver per kg has hovered around Rs.37,000.

    Factors that influence Silver Price in Chennai

    There are many factors that determine the silver price in Chennai, some of which are given below:

    The US dollar: This has one of the biggest influences on the silver rate in Chennai. There is an inverse relationship between the US dollar and silver prices as people stop investing in precious metals and prices dip when the US dollar rises during a recession and vice versa. So it is a good idea to keep a track on the trends in the US dollar and buy silver accordingly when prices are low. Silver can be used as a long-term investment that will be a good protection against inflation.

    Industrial demand: Silver is used in a variety of industries ranging from superconductors to batteries. So an industrial demand for silver can result in higher prices. A demand for Exchange-Traded Funds (ETFs) can result in a stronger demand for silver bullions.

    Global factors: Global factors play a strong role in silver prices in Chennai. US Federal Reserve policies, for example, determine silver rates in Chennai to a great extent. The price of silver in Chennai usually dips when the rate of interest in the US increases.

    Silver products as investments

    Chennai residents have also been using silver as means of investment that gives decent returns. Also, as a precious metal, silver is a safe avenue for investments as it will be steadily valued up over time.

    Jewelry and wares: Silver jewelry and wares are available easily in Chennai. One can simply go to the nearest jewelry shop and buy intricately designed silver jewelry pieces and wares such as utensils etc. This physical silver acts as a reserve for people which can be easily liquidated at times of need. The demand for silver also picks up during festivals.

    Coins: Silver coins are issued by various agencies such as banks and private companies in India. Coins are available in different varieties such as 10 grams, 100 grams etc. Silver rates in Chennai are reflected in the coin prices in the city. Pure silver is rarely used in coinage, with alloys being the preferred choice. Silver coins in Chennai are mainly available with 999 purity.

    Bars: Silver bars are also quite popular with consumers in Chennai. The bars can be purchased at various bullion providers in the city. Silver ingots have been traditionally the preferred choice of Chennai residents to invest in bullion. These ingots or bars are quite easily available and can be purchased at reasonable prices throughout the city.

    Silver dealers in Chennai

    Major silver sellers in Chennai include SLN Bullion, Vummidi Silverware, Tanishq, N. Gopaldas, GRT, Khazana Jewellers and many more. These dealers offer various products of silver such as bars, jewelry, ornaments, silverware, coins, gift articles etc. The dealers mostly sell silver at latest prices, with variations in price according to the product type. For instance, silver jewelry will cost you more for the same quantity of pure silver than a silver bar.

    Silver demand and supply

    Silver is mainly produced as a by-product of other metal production processes. By-product silver accounts for more than 80% of total silver in the world, with the remaining quantities mined in countries predominantly in the Americas. Many countries, including India, have bought large reserves of silver to meet their internal requirements as well as global demands.

    Silver rates in Chennai are a direct product of the global demand and supply chain. The demand for silver has steadily exceeded its supply in the recent past, and this has led to silver prices in Chennai going to peak levels in the last few years.

    FAQs on Silver Rate in Chennai

    1. Where can I buy the best quality silver in Chennai?
    2. You can purchase the best quality silver from leading silver retailers in the city, as well as, from the leading jewellers in Chennai.

    3. What are the factors that determine the silver price in Chennai?
    4. There are many factors which play an important role in determining the silver price in Chennai such as crude oil prices, U.S. dollar value, rupee value along with the performance of the global equities market, etc.

    5. Will the silver price in Chennai change today?
    6. The price of silver can change depending on a number of factors such as the political tensions between two or more countries, crude oil prices, the trend of the commodities market along with the trend of the equities market.

    News About Silver Rate in Chennai

    • Silver prices incline by more than Rs.1,000; gold rate sees a surge by Rs.198

      The price of gold increased by Rs.198 to Rs.48,480 per 10 grams on 19 January as a positive trend was seen in the international market for gold prices. In its previous trade, the yellow metal had closed at Rs.48,282 per 10 grams.

      Silver prices surged by more than Rs.1,000 by Rs.1,008 to Rs.65,340 per kg and had previously closed at Rs.64,332 per kg.

      In the international market, gold was trading on a positive note at $1,843 per ounce and silver was trading at $25.28 per ounce.

      19 January 2021

    • The value of gold holds steady in the market; silver rates record inclines

      Gold rates recorded a steady trend after a negative trend for 3 continuous days. The price of the metal for February delivery was at Rs.49,130 per 10 grams on the Multi Commodity Exchange. The metal recorded a marginal decline of 0.074%. Gold prices for delivery in April were trading at Rs.49,381 per 10 grams.

      Silver prices dipped by 0.22% to Rs.65,414 per kg. The value of 22-karat gold in New Delhi was Rs.48,360 per 10 grams and was Rs.46,770 per 10 grams in Chennai.

      16 January 2021

    • Silver prices tumble; gold sees a decline of more than Rs.2,000 in two days

      The price of gold in the domestic market dipped by 0.42% on the Multi Commodity Exchange, to Rs.48,760 per 10 grams. The yellow metal had recorded declines of Rs.2,350 in two days. Silver prices on the MCS also dipped by 0.5% to Rs.63,914 per kg. In the previous session, gold prices dipped by RS.2,050 and silver prices recorded a decline of Rs.6,100.

      In the international market, gold prices recorded a decline as the U.S. dollar value recovered in the market. Spot gold prices dipped marginally by 0.7% to $1,836.30 per ounce and silver prices dropped by 2.4%.

      12 January 2021

    • Gold and silver prices show a marginal incline in the market

      The price of 22-karat gold was Rs.4,873 per gram increased by Rs.10 along with the price of 24-karat gold which also saw an incline of Rs.10. For 22-karat gold, the price was Rs.48,730 per 10 grams and on 21 December, the price of 24-karat gold was Rs.49,730 per 10 grams.

      The rate of gold in Chennai was Rs.47,450 per 10 grams for 22-karat gold and for 24-karat gold, gold prices increased by Rs.10 to Rs.51,770 per 10 grams. In New Delhi, 22-karat gold was priced at Rs.48,980 per 10 grams and 24-karat gold was priced at Rs.53,420 per 10 grams.

      Silver prices increased by Rs.20 and was Rs.69,900 per kg compared to its previous closing price of Rs.67,900 per kg. In the international market, spot gold prices increased by $20.80 to $1,901.80 per ounce.

      22 December 2020

    • Silver rates remain flat; gold records a marginal incline in prices

      With the festive season in the country, gold prices had increased marginally by Re.1 for 22-karat gold on 23 November 2020. The price of the yellow metal had increased from Rs.4,989 per gram to Rs.4,990 per kg. The value of 24-karat gold had increased from Rs.5,089 per gram to Rs.5,090 pe gram.

      In the country, 22-karat gold was Rs.49,990 per 10 grams and 24-karat gold was priced at Rs.50,990 per 10 grams. In Delhi, the price of 22-karat gold was lower than the national average at Rs.49,160 per 10 grams. However, 24-karat gold was priced higher at Rs.53,620 per 10 grams.

      In Kolkata and Ahmedabad, 22-karat gold was priced at Rs.50,070 per 10 grams and Rs.50,280 per 10 grams respectively. The price of silver remained steady at RS.62,300 per kg.

      27 November 2020

    • Yellow metal trades above Rs 48,500 per 10 grams; Silver falls

      Prices of gold in India traded a bit higher on the Multi Commodity Exchange (MCX) after tracking gains in international spot prices while the price of silver dropped.

      Gold futures for December delivery grew 0.12% to Rs.48,570 per 10 grams. And Silver futures traded 0.35% lower at Rs.59,631 per kg. The prices opened at Rs.60,034.

      International prices of gold surged on Thursday as grim US jobs data and worries over rising COVID-19 cases worldwide cast doubts over a quick economic recovery which helped the precious metal strengthen their position, Reuters reported.

      Spot gold went up 0.3 % to $1,811.31 per ounce. US gold futures traded 0.2% higher to $1,808.70.

      26 November 2020

    • Silver demand rises as festival season dawns on us

      Silver jewellery, minimalist designs, trinkets, and coins see an increase in their demand. As people are gearing up to celebrate Dhantrayodashi, a lot of people are now shopping for the wedding season as well. Chandni Chowk is known to have the best, and cheapest prices for precious metals. Silver seems to have had a huge demand during the festival season. 

      13 November 2020

    • Yellow metal trades above Rs 52,000; Silver rose more than 1%

      On the Multi-Commodity Exchange (MCX), December gold contracts were traded higher by 0.16% at Rs 52,252 per 10 gram at 0920 hours. December silver futures were traded 1.02% higher at Rs.66,000 per kg.

      Gold December futures contract settled with a weekly rise of nearly 4% at $1952.05 per troy ounce and Silver December futures contract settled with a weekly rise of over 8% at $25.71 per troy ounce.

      Despite the rupee rising, both the precious metals settled on a positive note in the domestic market. Gold December futures contract settled at 52,167 per 10 gram, while Silver December futures contract settled at 65,335 per one kilogram.

      09 November 2020

    • Gold prices increase to the Rs.51,000 per gram levels, silver prices drop

      The price of spot gold in India showed an incline of 0.02% and was at Rs.51,000 per 10 grams compared to its previous closing price of Rs.50,990 per 10 grams. The price of the metal was higher than the weekly average of Rs.50,902 per 10 grams.

      Gold rate in India increased marginally despite the decline of the metal’s prices in the international market. Gold dipped by 0.13% at $1,892 per ounce.

      On the Multi Commodity Exchange, the price of silver showed a steady trend at Rs.61,880 per kg.

      03 November 2020

    • Silver prices rise by 0.33% on 29 October 2020

      Silver prices increased slightly on 29 October 2020. In the international markets, the prices of silver increased by 0.33% and were at $23.50 for an ounce. Silver futures prices on MCX were stable on 29 October and were at Rs.60,267 for a kg. Spot gold prices in India increased marginally and were at Rs.50,860 for 10 grams. In the previous session, gold prices were at Rs.50,850 for 10 grams. In the international markets, the prices of gold were at $1,882.30 for an ounce. The prices of gold are 1.18% lower than the average prices.

      30 October 2020

    • Price of gold dips to the Rs.50,000 per 10-gram levels; silver prices drop

      Gold prices in the domestic market dipped due to various international factors along with the price of silver. On the Multi Commodity Exchange, the price of silver was Rs.61,951 per kg and gold was priced at Rs.50,586 per 10 grams.

      In New Delhi, the value of 22-karat gold is Rs.49,344 per 10 grams and the price of 24-karat gold is Rs.52,824 per 10 grams. Gold rate in Chennai is Rs.48,840 per 10 grams for 22-karats and for 24-karat, the value is Rs.51,080 per 10 grams.

      In Kolkata, 10 grams of 22-karat gold costs Rs.49,866 per 10 grams and 24-karat gold is priced at Rs.51,396 per 10 grams.

      20 October 2020

    • Gold rate increases marginally; silver prices decline

      Gold prices have shown a slight incline in the national and international market, as the precious metal increased by Rs.10 for 22-karat gold and 24-karat gold. The value of 22-karat gold is Rs.49,510 per 10 grams and 24-karat gold is valued at Rs.50,510 per 10 grams.

      The price of 24-karat gold in Chennai is Rs.51,060 per 10 grams and gold prices in Delhi are valued at Rs.49,290 per 10 grams for 22-karat gold and Rs.53,770 per 10 grams for 24-karat gold.

      Silver prices saw a marginal dip in the market. In its previous session, the price of the metal was Rs.61,700 per kg and now, is valued at Rs.61,350 per gram.

      In the international markets, the price of spot gold increased marginally and was $1,901 per ounce.

      19 October 2020

    • Silver prices fall by Rs.1,681 on 14 October 2020

      According to HDFC Securities, the prices of silver fell by Rs.1,681 on 14 October and were at Rs.62,158 for a kg. In the previous session, silver prices closed at Rs.63,839 per kg. In the global markets, silver rates were at $24.16 for an ounce. Gold prices in Delhi fell for the second day in a row. On 14 October, the prices of the yellow metal fell by Rs.631 and were at Rs.51,367 per 10 grams. In the previous session, gold prices closed at Rs.51,998 for 10 grams. The value of the rupee increased by 4 paise against the dollar and closed at Rs.73.31. In the international markets, gold closed at $1,896 for an ounce.

      14 October 2020

    • Silver futures prices increase by Rs.1,053 on 12 October

      Silver futures prices for the month of September gained by Rs.1,053 and are at Rs.63,900 for a kg. In the previous session, the prices of silver were at Rs.62,853 for a kg. In the international markets, silver prices gained by 1.1% and were at $25.39 for an ounce. The prices of silver increased due to the uncertainty around the elections in the US. Like silver, gold prices increased in India as well. Gold futures prices for the month of October on MCX rose by Rs.266 and were at Rs.51,085 for 10 grams. In the international markets, spot gold prices fell by 0.1% and were at $1,928.06 for an ounce. So far this year, gold prices have increased by 27%.

      13 October 2020

    • Gold and silver prices drop

      Price of 10 grams of 22-carat gold was Rs.49,420 on 6th October. However, today the price of the yellow metal rose to Rs.49,430. The price of 10 grams of 24-carat gold also grew to Rs.50,430.

      The price of 0 grams of 22-carat gold in Chennai for rose from Rs.48,450 to Rs.48,460. The price of 24-carat-gold also grew with 10 grams costing Rs.52,860.

      In India's Delhi, the price of 22-carat gold was recorded to be at Rs.49,410 today while the price of 24-carat-gold was Rs.53,360.

      In Mumbai, the price of 22-carat gold today rose to Rs.49,430 from Rs.49,420 for 10 grams and the price of 10 gram 24-carat gold rose to Rs,50,430 from Rs.50,420.

      On the global market, the price of spot gold was recorded to be at USD 1,882 per ounce.

      The price of silver has fallen by Rs 1.40 per gram.

      The price of 10 grams of silver today is Rs.606. Price of white metal is Rs.606 for 10 grams in all the major Indian cities.

      7 October 2020

    • Gold prices dip to Rs.50,183 per 10 grams; silver prices decline due to the rise in dollar value

      The domestic price of gold dipped in the market on 30 September due to a weaker trend in the international price of the metal. Similarly, silver prices also recorded a dip on the Multi Commodity Exchange. Gold futures on the MCX was at Rs.50,183 per 10 grams, plummeting by Rs.469 and silver futures were priced at Rs.60,530 per kg, dipping by 3.10%.

      In the international market, COMEX gold had dropped to $1,885.80 per ounce and silver futures were trading at $23.71 per ounce. The U.S. dollar index increased by 0.18% which resulted in the declining prices of the bullion.

      1 October 2020

    • Gold priced at Rs.52,740 per 10 gm, silver priced at Rs.58,000 per kg

      The price of gold on Tuesday increased from Rs.52,740 to Rs.53,030 per 10 gm. The price of silver was Rs. 58,000 per kg. The price of 22-carat gold in New Delhi was Rs.48,350 per 10 gm; in Chennai, the price was Rs.47,700; and in Mumbai, it was Rs.48,250. In Chennai, 24-carat gold was priced at Rs.52,040 per 10 gm. On Monday, the price of gold in New Delhi decreased to Rs. 50,449 per 10 grams following the global trend. Previously, it was trading at Rs.50,643 per 10 gram.

      The price of silver decreased to Rs.59,274 per kg, previously trading at Rs.60,207 per kg. On the MCX, in October, gold futures increased by 0.95% to be priced at Rs.50,133 per 10 gm. The December silver futures were trading at Rs.60,396 per kg.

      Internationally, gold and silver traded a bit lower at $1,857 per ounce and $22.70 per ounce respectively. The strong equity indices led to gold trading lower. Investors were also waiting for economic data from the Chinese government and for the US Presidential election debate to decide on gold prices in the stock market.

      29 September 2020

    • Gold price slips and silver prices reach Rs.58,000

      The rates of gold had dipped because the investors had reacted to the comments made by the Federal Reserve officials about the condition of the economy.

      The prices of the metals had fallen after the bullion rates had reduced to over a one month low as the U.S. had seen gains. The gold and silver rates had become low after a firm U.S dollar and the investors had been very concerned over the a few new curbs.

      On the Multi Commodity Exchange, the October futures of gold had dipped by Rs.590 at Rs.49,788, after it had reached a low of Rs.49,744 as compared to Rs.50,381 per 10 gm. Over the year, gold prices have risen 41.5% and reached a high of Rs.56,191 per 10 gm

      23 September 2020

    • Silver and gold rates drop due to international trends

      The value of gold and silver traded lower in the Indian market on 17 September 2020 as the dollar value increased in the international market. Gold rates on the Multi Commodity Exchange traded lower at Rs.51,480 per 10 grams, down by Rs.344. The metal had hit an intraday high at Rs.51,279 per 10 grams and compared to its previous close at Rs.51,824 per 10 grams, the price dipped.

      Gold futures on the Multi Commodity Exchange was trading lower by almost Rs.5,000 compared to its all-time high at Rs.56,191 per 10 grams on 7 August. In the international market, spot gold traded at $1,938.12 per ounce, plunging by 1.1%. US gold futures dipped by 1% as well to $1,951.30 per ounce.

      Silver prices had decreased by 1.8% in the international market and were trading at $26.73 per ounce.

      17 September 2020

    • Silver prices increase in India on 15 September 2020

      Silver futures prices increased on 15 September due to a weak dollar. Silver futures prices for the month of December increased by 1.08% and were at Rs.69,708 for a kg. In the international markets, the prices of silver jumped by 1.86% and were at $27.36 for an ounce. Like silver, gold futures prices increased in India as well. Gold futures prices for the month of October on MCX increased by 0.78% and were at Rs.52.089 for 10 grams. In the international markets, the prices of spot gold hit a two-week high and were at $1,968.80 for an ounce.

      15 September 2020

    • Gold prices increase marginally, silver prices surge by Rs.1,000

      Gold prices recorded a marginal incline from Rs.54,540 per 10 grams to Rs.54,550 per 10 grams. Silver rates increased by more than Rs.1,000 from Rs.65,350 per kg to Rs.66,360 per kg. In New Delhi, the price of 22-karat gold increased to Rs.50,010 per 10 grams and was priced at Rs.49,130 per 10 grams in Chennai. The value of 24-karat gold in Chennai was Rs.53,590 per 10 grams.

      On the Multi Commodity Exchange, gold futures for October delivery increased by 1.07% to Rs.51,448 per 10 grams and silver futures for September was at Rs.65,976 per kg.

      1 September 2020

    • Silver prices fall to Rs.65,500 for a kg on 28 August 2020

      The prices of silver reduced by Rs.50 on 28 August 2020 and are at Rs.65,500 for a kg. In the previous session, silver prices were at Rs.65,550 for a kg. Silver futures prices for the month of September are at Rs.65,190 for a kg. The prices of silver in the international markets, the prices of the white metal were flat and were at $27.38 for an ounce. Unlike silver, the prices of gold increased in India on 28 August. The prices of gold increased from Rs.54,380 for 10 grams to Rs.55,200 for 10 grams. Gold prices vary from state-to-state due to making charges, state taxes, and excise duty. Gold futures prices for the month of October fell by 1.69% and are at Rs.50,902 for 10 grams. In the global markets, gold rates fell and were at $1,946 for an ounce.

      28 August 2020

    • Domestic silver prices reduce to Rs.66,629 for a kg on 24 August

      Tracking prices in the international markets, silver futures prices decline on 24 August 2020. Silver futures prices for the month of September on MCX reduced by 0.65% and were at Rs.66.629 for a kg. In the previous session, the prices of silver were at Rs.67,067 for a kg. Similar to silver, gold futures prices for the month of October fell by 0.69% and are at Rs.51,659 for 10 grams. In the global markets, the prices of silver are around $27 for an ounce. A weak dollar ensured that the prices of the white metal for cheaper for other currency holders.

      24 August 2020

    • Silver prices slip on Monday

      The price of silver saw a drop in the rates on Monday. The rates plunged by 0.63 percent in the global market and was trading at $26.3 per troy ounce. On the Multi Commodity Exchange (MCX), the futures of the white metal however saw an increase. It grew by 0.11 percent and was trading at Rs.67,314 per kilogram.

      Spot gold prices in the country also witnessed an increase today. The rates were up by 0.02 percent and was trading at Rs.52,240. The hike in the rates was seen even though global gold prices saw a drop of 0.29 percent. In the global market, an ounce of the yellow metal was retailed for $1,941.5. On the MCX, gold rates fell and was priced at Rs.52,362 for every 10 grams. Among other precious metals, the price of platinum fell by 0.47 percent to cost $945.8 per troy ounce. It must be noted here that the dollar to rupee conversion improved to Rs.74.8 as compared to previous close of Rs.74.9.

      17 August 2020

    • Silver prices dip by more than Rs.5,000; gold prices record a decline

      Silver prices recorded a drop of more than Rs.5,000 at Rs.5,172 to Rs.67,584 per kg compared to its previous price of Rs.72,756 per kg. Gold prices recorded a decline as well by Rs.1,228 to Rs.52,946 per 10 grams in New Delhi on 12 August.

      As the value of the U.S. dollar increased against other countries and Russia announced the registration of the world’s first COVID-19 vaccine, traders booked profits and shifted towards equities.

      According to sources, spot gold prices of 24-karat gold was down by Rs.1,228 in the National Capital Region. In the international market, gold prices showed an incline at $1,930 per ounce while silver was priced at $25.70 per ounce.

      12 August 2020

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