• Silver Rate in Chennai

    Daily Silver Rates
    Date Silver (1 gram) Bar Silver (1 Kg)
    12 Dec 2018 ₹ 40.7 ₹ 40,700
    11 Dec 2018 ₹ 40.7 ₹ 40,700
    10 Dec 2018 ₹ 40.3 ₹ 40,300
    09 Dec 2018 ₹ 40.3 ₹ 40,300
    08 Dec 2018 ₹ 40.3 ₹ 40,300
    07 Dec 2018 ₹ 39.6 ₹ 39,600
    06 Dec 2018 ₹ 39.5 ₹ 39,500
    05 Dec 2018 ₹ 39.6 ₹ 39,600
    04 Dec 2018 ₹ 39.6 ₹ 39,600
    03 Dec 2018 ₹ 39 ₹ 39,000

    *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 Rate in Chennai

    Silver is among the most popular commodities in India. Silver rates in Chennai, or for that matter other cosmopolitan cities like Mumbai or Delhi, are a reflection of the international silver prices 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.

    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. 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.

    Trend of Silver Rate in Chennai for August 2018 (rates per gram)

    Parameters Silver price (per kg)
    August 1 Rate Rs.41,400 per kg
    August 31 Rate Rs.40,300 per kg
    Highest Rate in August Rs.41,400 per kg on 1 and 9 August
    Lowest Rate in August Rs.39,800 per kg on 24 August
    Overall Monthly Performance Decline
    Percentage Change -2.65%

    August 2018- Week 1 (1-5)

    • Demand for silver in Chennai was subject to market trends and fluctuating industrial demand, with the metal opening the month at Rs.41,400 per kg.
    • The continued trade dispute between the United States and China led to volatile markets, as investors looked to bullion as a safe-haven asset.
    • A rise in the dollar rate led to silver falling to Rs.41,000 per kg on 3 August but local demand kept rates from dropping steeply.
    • The end of the week saw a marginal rise in price as silver traded at Rs.41,300 per kg on 5 August.

    August 2018- Week 2 (6-12)

    • The week began with silver prices remaining unchanged at Rs.41,300 per kg due to static local demand.
    • Fluctuating stock markets and a recovering dollar resulted in lower demand as silver rates in Chennai fell to Rs.41,100 per kg on 10 August.
    • A slight rise in price led to silver trading at Rs.41,200 per kg on 12 August.

    August 2018- Week 3 (13-19)

    • As the third week began, silver prices rose on investor fears of a slowdown in the Chinese economy and rising safe-haven demand.
    • Silver traded at Rs.41,200 per kg on 13 August as local demand rose due to a momentary drop in dollar rates.
    • Coin makers also increased orders, but a recovering dollar rate capped silver gains.
    • A sharp drop in the rupee and consequent decline in industrial demand resulted in silver falling to Rs.39,900 per kg on 16 August.
    • A slight rise in silver rates in Chennai saw the metal recover to trade at Rs.40,000 per kg on 19 August.

    August 2018- Week 4 (20-26)

    • The industrial metal opened trading at Rs.40,000 per kg on 20 August on static demand domestically and internationally.
    • As Chinese industrial growth slowed, demand for silver rose as investors looked at hedging their losses as the metal traded at Rs.40,100 per kg on 22 August.
    • Declining interest in silver among local retail customers dragged prices down, in spite of stable demand overseas.
    • As the week drew to a close, silver traded at Rs.40,200 per kg on 26 August.

    August 2018- Week 5 (27-31)

    • Demand for silver was static in the last week as rising markets and a stable dollar rate deterred investors and industrial units alike.
    • The week opened with silver priced at Rs.40,200 per kg as news of a possible interest rate hike boosted equity markets.
    • Local demand fluctuated due to a falling rupee, though the festive season saw some upward movement.
    • Prices rose briefly to Rs.40,400 per kg on 28 August but deteriorating trade relations between China and the U.S. affected orders.
    • Silver fell to Rs.40,300 per kg as the month ended, to report a loss of 2.65% over the course of the month.

    Trend of Silver Rate in Chennai for July 2018 (rates per kg)

    Parameters Silver price (per kg)
    July 1 Rate Rs.42,800 per kg
    July 31 Rate Rs.41,400 per kg
    Highest Rate in July Rs.42,900 per kg from 9 - 10 July
    Lowest Rate in July Rs.41,200 per kg from 28 - 29 July
    Overall Monthly Performance Decrease
    Percentage Change -3.27%

    Trend of Silver Rate in Chennai for June 2018 (rates per kg)

    Parameters Silver price (per kg)
    June 1 Rate Rs.42,800 per kg
    June 30 Rate Rs.42,800 per kg
    Highest Rate in June Rs.45,000 per kg on 15 June
    Lowest Rate in June Rs.42,600 per kg from 2 to 5 June
    Overall Monthly Performance Steady
    Percentage Change 0.00%

    June 2018 - Week 1 (1 - 10):

    • Trading opened in Chennai with silver priced at Rs.42,800 per kg on the 1st with industrial demand on the decline amid the strengthening US dollar and stock markets.
    • With the US dollar gaining against other apex currencies, the greenback strengthened. This led to silver rates in Chennai hitting their lowest monthly figure of Rs.42,600 per kg on the 2nd.
    • Prices remained unaltered at Rs.42,600 per kg until the 5th with domestic demand capped by the poor market trend overseas.
    • The 6th, however, saw rates rising to Rs.43,900 per kg as the dollar weakened with markets speculating over disagreements between the participating nations of the G7 summit.
    • Silver was recorded trading at Rs.43,800 per kg on the 7th before dropping to Rs.43,800 per kg on the 8th amid the recovering dollar rates and equities market.
    • The 9th witnessed rebounding to Rs.43,700 per kg with the US dollar losing significant ground after President Trump targeted other heads of the G7 participating nations for inappropriate trade practices.
    • The week came to an end with the white metal priced at Rs.43,700 per kg on the 10th with steady demand from local industrial units and coin makers.

    June 2018 - Week 2 (11 - 17):

    • Silver was priced at Rs.43,900 per kg on the 11th when the week began amid favourable market trends overseas.
    • Though rates surged to Rs.44,000 per kg on the 12th, silver prices dropped to Rs.43,900 per kg the next day with investor demand held in check by the firm dollar value.
    • The week saw the industrial metal prices rising significantly with market participants gravitating towards safe-haven assets after the US Federal Reserve announced that the benchmark US interest rates would remain unaltered in its monetary policy meeting.
    • The next day saw silver rates surging to Rs.44,300 per kg on the 14th which rose further to a monthly high of Rs.45,000 per kg on the 15th with strong global demand amid the positive trend overseas.
    • Demand stabilised over the next couple of days amid the recovering US dollar and silver was recorded trading at Rs.44,300 per kg on the 17th as the week came to an end.

    June 2018 - Week 3 (18 - 24):

    • Trading began for the week with the white metal trading at Rs.43,400 per kg - a decline of Rs.900 per kg - on the 18th as demand dropped significantly at the domestic level amid the strengthening US dollar and equities.
    • The 19th witnessed prices rising to Rs.43,500 per kg but dropped to Rs.43,100 per kg the following day as the greenback gained against a basket of other major emerging currencies amid the well-performing stock markets.
    • Silver was priced at Rs.42,900 per kg on the 21st amid the poor trend overseas and continued trading at the same rate for the remainder of the week with subdued but steady demand from industrial units and coin manufacturers.

    June 2018 - Week 4 (25 - 30):

    • When trading opened in Chennai, silver prices were recorded holding at Rs.43,200 per kg on the 25th after strong market trends resulted an incline in investor demand over the weekend.
    • The US dollar index, however, regained lost ground against a basket of other apex currencies over the next couple of days. This led to the greenback strengthening and silver demand being capped by the poor trend overseas.
    • The white metal was recorded trading at Rs.43,000 per kg on the 28th on account of poor industrial demand coupled with weak global cues.
    • The 29th saw prices dropping further to Rs.42,800 per kg as the dollar capitalised on its previous sessions’ gains, making the bullion market expensive for foreign investors.
    • The month came to end with the silver priced at Rs.42,800 per kg on the 30th with steady demand from industries and coin makers.

    Trend of Silver Rate in Chennai for May 2018 (rates per kg of silver)

    Parameters Silver price (per kg)
    May 1 Rate Rs.42,000 per kg
    May 31 Rate Rs.43,100 per kg
    Highest Rate in May Rs.43,800 per kg on 25 May
    Lowest Rate in May Rs.42,000 per kg on 1 May
    Overall Monthly Performance Incline
    Percentage Change 2.61%

    May 2018 - Week 1 (1st - 6th):

    • When trading commenced for the month in Chennai, silver was priced at its lowest at Rs.42,000 per kg on the 1st with subdued industrial demand amid weak global cues.
    • The week saw silver rate in Chennai greatly influenced by the geopolitical tensions that pushed safe-haven demand higher for the metal.
    • On the 3rd, silver prices were recorded holding at Rs.42,600 per kg with investors banking on the bullion markets amid speculations on the US-Sino trade talks.
    • Strong demand from industries and coin makers coupled with positive market trends overseas led to prices remaining untouched at Rs.42,600 per kg over the next couple of days.
    • The week came to an end with the white metal trading at Rs.42,600 per kg on the 6th with steady domestic demand amid firm global trends.

    May 2018 - Week 2 (7th - 13th):

    • The second week began with silver trading at Rs.43,200 per kg on the 7th with silver markets capitalising on the weakened US dollar.
    • However, with the US greenback recovering from its initial shock, demand for the metal subsided. This led to silver being priced at Rs.43,000 per kg on the 8th.
    • With political relations worsening between the US and North Korea, demand for safer investments improved. This led to prices increasing during the week.
    • Positive global cues coupled with steady investor demand led to silver price in Chennai rising to Rs.43,100 per kg on the 9th, which surged further to Rs.43,300 per kg on the 10th at the domestic level.
    • The 11th witnessed silver rate in Chennai rising further to Rs.43,500 per kg with industries ramping up purchases in order to stock up inventories.
    • Trading concluded for the week with the industrial metal priced at Rs.43,500 per kg on the 13th amid the firm trend overseas.

    May 2018 - Week 3 (14th - 20th):

    • When trading commenced for the third week, silver was priced at Rs.43,600 per kg on the 14th with consistent global demand from the previous week.
    • Silver price in Chennai dropped to Rs.43,300 per kg on the 15th before plunging further to Rs.43,000 per kg the next day after the US dollar gained against a basket of other major emerging currencies at the international front.
    • Rates recovered to Rs.43,200 per kg on the 17th but plummeted to Rs.43,000 per kg on the 18th with global demand suppressed by the strengthening US dollar and well-performing equities.
    • Thanks to a slight increase in industrial offtake during the week, silver rate in Chennai rose marginally to Rs.43,100 per kg on the 20th as the week came to an end.

    May 2018 - Week 4 (21st - 27th):

    • The week saw silver price in Chennai touching monthly highs with global demand on the rise amid the political uncertainties in the Middle East and Europe.
    • Trading opened for the week with silver priced at Rs.43,100 per kg on the 21st with markets tracking a firm trend from the previous session.
    • An incline in investor demand brought about by positive global cues led to rates surging to Rs.43,500 per kg on the 23rd.
    • Prices rose to Rs.43,300 per kg the following day before an increase in industrial orders from the Asian continent led to silver rates rebounding to Rs.43,800 per kg - the highest recorded monthly figure - on the 25th.
    • Trading concluded for the week with silver rate in Chennai holding at Rs.43,600 per kg on the 27th with steady demand from local industries and coin makers.

    May 2018 - Week 5 (28th - 31st):

    • The final week began with silver trading at Rs.43,000 per kg on the 28th after an increase in the dollar value coupled with good returns on equities led to prices plunging by Rs.600 from the previous session.
    • The confirmation by Donald Trump that the previously called off summit with North Korea will go ahead as planned led to the greenback strengthening. This led to prices remaining on the weaker side for much of the week.
    • Though rates rose to Rs.43,100 per kg on the 29th, silver price in Chennai plummeted to Rs.42,900 per kg on the 30th with industrial demand suppressed by the strong US dollar.
    • The month came to an end with the white metal trading at Rs.43,100 per kg on the 31st following a slight increase in demand from industrial units and coin makers.
    • Chennai recorded an incline of 2.61% in silver trade due to strong global cues that pushed demand higher during the month.

    Trend of Silver Rate in Chennai 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%

    April 2018- Week 1 (1st -7th)

    • The price of silver rose for most of the first week in Chennai, though there was a slight drop in price towards the end of the week.
    • Silver opened at Rs.41,400 per kg amidst strong demand from industrial units and coin makers alike.
    • Market uncertainty led investors to invest in bullion due to declining returns from equities fuelling a rise in price.
    • Prices rose to Rs.41,600 per kg on 3 April before falling to Rs.41,000 per kg on 5 April due to a minor dip in local demand.
    • The week ended with silver priced at Rs.41,200 per kg on 7 April after a slight increase in price.

    April 2018- Week 2 (8th-15th)

    • The second week of April saw silver prices remain more or less constant at the start of the week before favourable market conditions led to a rise in price.
    • The industrial metal was priced at Rs.41,200 per kg on 8 April due to stagnant local demand even though international demand was quite high.
    • Escalating trade tensions between the United States and China led to further market turbulence which kept demand for bullion high.
    • Silver rose to Rs.42,000 per kg on 12 April after news of a chemical attack in Syria, though prices normalised over the next few days.
    • The week ended with silver priced at Rs.41,900 per kg on 15 April.

    April 2018- Week 3 (16th-22nd)

    • Political uncertainty and the possibility of a global trade war led to equity markets performing poorly as bullion demand grew.
    • Silver was priced at Rs.42,100 per kg on 16 April as local demand was steady due to a weak U.S. Dollar and favourable cues.
    • Prices shot up to Rs.43,800 per kg on 20 April as markets dealt with the consequences of a U.S.-led airstrike on Syria.
    • Increasing interest from the Asian industry also kept global demand for silver high and helped keep local prices steady.
    • The week ended with silver prices at Rs.43,800 per kg on 22 April due to consistent demand.

    April 2018- Week 4 (23rd-30th)

    • Demand for silver was slightly muted in the last week of April as the dollar rose amidst recovering equity markets, leading to fewer orders from local industry.
    • The industrial metal opened the week at Rs.43,700 per kg on 23 April before dropping to Rs.43,000 per kg on 24 April due to falling demand.
    • Investors awaited the minutes of the Fed Reserve meeting and Sino-U.S. trade talk results, further reducing interest in bullion.
    • Prices dropped to Rs.42,800 per kg on 27 April as coin makers reduced offtake due to higher import costs associated with a strengthening dollar.
    • Silver prices were steady before ending the month at Rs.42,300 per kg on 30 April to register a gain of 2.17%.

    Trend of Silver Rate in Chennai 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%

    March 2018 – Week 1 (1 – 4):

    • Trading commenced in Chennai with silver prices holding at Rs.41,100 per kg on the 1st of March with demand capitalising on the weakened dollar and equities.
    • Silver rate in Chennai rose to Rs.41,400 per kg on the 2nd as the dollar lost against other apex currencies amid an unevenly performing equities market.
    • The 3rd witnessed silver rates rising further to Rs.41,600 per kg and continued trading at the same price with steady demand from local industries and coin manufacturers for the rest of the week.

    March 2018 – Week 2 (5 – 11):

    • The week opened with the industrial metal trading at Rs.41,600 per kg on the 5th on firm global cues.
    • Though prices plunged to Rs.41,400 per kg the next day with a slight decline in demand, a drop in the dollar value after equities tumbled in the international market led to silver rates recounding to Rs.41,900 per kg on the 7th.
    • However, with the greenback recovering from the initial shock, demand for the metal dropped. This led to silver price in Chennai plummeting to Rs.41,500 per kg on the 8th.
    • The strengthening US dollar coupled with firmer equities led to a gradual decline in prices over the next day. Silver was recorded trading at Rs.41,300 per kg on the 9th amid the poor trends overseas.
    • Demand, however, seemed to pick up the next couple of days with investors and stockists gravitating towards safe-haven assets amid uncertainties in equity markets and the white metal was recorded trading at Rs.41,600 per kg on the 11th.

    March 2018 – Week 3 (12 – 18):

    • The third week saw silver rate in Chennai fluctuating initially before gradually declining towards the end after the US dollar strengthened amid firmer equities.
    • The week began with the industrial metal trading at Rs.41,600 per kg on the 12th with the bullion holding on to its gains from the previous session.
    • The 13th saw silver rates plunging to Rs.41,400 per kg after the release of the stronger than expected US payrolls’ data.
    • Prices rebounded to Rs.41,700 per kg on the 14th following Rex Tillerson’s sudden dismissal as the US Secretary of State.
    • However, with traders and investors speculating over a possible interest rate hike next week, the dollar value rose. This led to silver being priced at Rs.41,500 per kg on the 15th.
    • The strengthening dollar coupled with declining demand for the metal led to silver price in Chennai plunging to Rs.41,300 per kg and Rs.41,100 pe kg on the 16th and the 17th respectively.
    • When the week came to an end, the industrial metal prices were recorded holding at Rs.41,100 per kg on the 18th with subdued demand by industrial units and coin makers amid weak global cues.

    March 2018 – Week 4 (19 – 25):

    • The fourth week began with silver trading at Rs.41,000 per kg on the 19th with the greenback holding on its previous rally of gains in the international market.
    • The 20th saw silver rate in Chennai rebounding to Rs.41,200 per kg with demand improving after the domestic bullion tracked a positive market trend overseas.
    • Demand, however, couldn’t keep up against the strong dollar and equities and prices dropped to Rs.41,000 per kg on the 21st.
    • With investors and stockists gravitating towards safe-haven assets amid the unevenly performing share markets, demand for the white metal rose. This led to silver being priced at Rs.41,500 per kg the following day.
    • Silver price in Chennai surged further to Rs.41,600 per kg on the 23rd after demand rose with overseas markets bracing for a possible US interest rate hike by the Federal Reserve during the month.
    • When trading concluded for the month, the metal was priced at Rs.41,600 per kg on the 25th with steady demand from industrial units and coin makers amid the positive overseas trends.

    March 2018 – Week 5 (26 – 31):

    • The final week saw silver rate in Chennai holding steady at Rs.41,600 per gram on the 26th with the bullion market holding on to its gains from the last week.
    • Demand for safe-haven assets such as gold and silver surged significantly after the US-Russian spat intensified during the week. This led to silver prices rising to Rs.41,800 per kg on the 27th.
    • However, with the US greenback recovering from the initial loss, demand for the metal declined. This led to silver being priced at Rs.41,500 per kg and Rs.41,400 per kg on the 28th and the 29th respectively.
    • The month ended with the industrial metal trading firm at Rs.41,400 per kg on the 31st with steady demand from local industrial units and coin makers despite the poor trends overseas.
    • Silver prices in Chennai rose by 0.72% due to the positive global market cues that pushed demand higher during the course of the month.

    Trend of Silver Rate in Chennai 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):

    • When trading commenced in Chennai, the industrial metal was priced at Rs.42,600 per kg on the 1st with strong demand for the metal ahead of the highly anticipated US payrolls and employment data. This was also the highest recorded monthly figure in the city.
    • Steady demand coupled with firm global cues resulted in silver rate in Chennai remaining untouched at Rs.42,600 per kg on the 2nd.
    • With the US jobs data proving out to be stronger than expected, the US dollar rose. This led to silver price in Chennai plunging to Rs.41,700 per kg on the 3rd.
    • The week concluded with the white metal prices holding firm at Rs.41,700 per kg on the 4th, thanks to steady demand from local industrial units and coin makers.

    February 2018 - Week 2 (5th - 11th):

    • The second week began with silver priced relatively lower at Rs.41,500 per kg on the 5th following a decline in domestic demand from previous week.
    • Prices surged to Rs.41,900 per kg on the 6th before plunging to Rs.41,400 per kg the next after the US dollar gained against a basket of other emerging currencies.
    • The strong US dollar index coupled with the well performing equities market resulted in silver price in Chennai dropping over the next few days.
    • Silver was priced at Rs.40,800 per kg on the 8th before rising to Rs.41,000 per kg on the 9th with a slight incline in demand from industries and coin manufacturers.
    • The 10th, however, witnessed silver rate in Chennai plunging again to Rs.40,600 per kg after the strengthened US dollar and firmer equities led to a decline in domestic demand for the metal. This was also the lowest recorded monthly figure in Chennai.
    • The rest of the week saw the metal prices holding steady at Rs.40,600 per kg with a steady but subdued demand amid the weak trend overseas.

    February 2018 - Week 3 (12th - 18th):

    • The third week saw silver rate in Chennai rising considerably after the US dollar weakened ahead of the US inflation data during the week.
    • Silver was recorded trading at Rs.40,900 per kg on the 12th when the week began.
    • With investors and traders eyeing on the US inflation data for clues on the US interest rate hikes during the year, the US dollar plunged. This led to silver rates surging to Rs.41,300 per kg on the 13th which rose further to Rs.41,400 per kg on the 14th amid the positive trends overseas.
    • Silver price in Chennai rose to Rs.41,800 per kg on the 15th before stabilising at Rs.41,700 per kg on the 16th after the US dollar index hit near three-year lows as demand for safe-haven assets such as silver surged against the US inflation concerns.
    • Strong global cues coupled with an incline in demand from investors and traders in order to hedge against a possible inflation resulted in silver being priced at Rs.41,700 per kg for the remainder of the week.

    February 2018 - Week 4 (19th - 25th):

    • The week witnessed silver price in Chennai dropping initially before picking up amid the weakening US dollar and equity markets.
    • The week commenced with the white metal prices holding at Rs.41,600 per kg on the 19th.
    • With the US dollar regaining lost ground from the previous week’s rally of losses, silver rates plunged to Rs.41,200 per kg on the 20th.
    • Prices remained untouched at Rs.41,200 per kg the next day before rising to Rs.41,400 per kg on the 22nd following a slight incline in demand from local industries and coin makers.
    • The 23rd saw silver rate in Chennai surging further to Rs.41,600 per kg after demand remained strong despite the well-performing dollar and equities.
    • On the 24th, prices dropped marginally to Rs.41,500 per kg with the US dollar gaining against a basket of other major emerging currencies. Steady demand coupled with firm trends overseas resulted in the metal trading at the same rate until the end of the week.

    February 2018 - Week 5 (26th - 28th):

    • The final week began with silver price in Chennai holding relatively higher at Rs.41,600 per kg on the 26th with the US dollar weakening ahead of the US Federal Reserve Chairman Jerome Powell’s first congressional testimony.
    • With investors and traders eyeing on the congressional speech for clues on the pace of interest rates during the year, the dollar plunged further. This led to silver rates rising to Rs.41,700 per kg on the 27th.
    • The US dollar, however, surged after the Federal Reserve Chairman vowed to prevent the country’s economy from worsening any further while sticking to the gradual interest rate hike plans. This led to silver rates closing at Rs.41,200 per kg on the last day.
    • Silver trade in Chennai plunged by 3.28% owing to the poor trends overseas that pushed demand lower during the course of the month.

    Trend of Silver Rate in Chennai 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 (1 - 7):

    • The first week saw silver rates rising considerably with an increase in domestic demand from local coin manufacturers and industries amid strong global cues towards the end of the week.
    • The month began with silver rate in Chennai holding at Rs.38,925 per kg - the lowest recorded monthly figure - on the 1st.
    • Prices remained untouched at Rs.38,925 per kg on the 2nd with steady industrial demand for the metal.
    • Silver rate in Chennai rose to Rs.39,110 per kg on the 3rd which dropped to Rs.38,995 per kg the following day with a marginal decline in demand after the US dollar rose against other apex currencies.
    • The 5th witnessed silver prices rebounding to Rs.39,265 per kg owing to an increase in demand industries and coin makers.
    • On the 6th, rates rose marginally to Rs.39,335 per kg and continued trading at the same rate for the remainder of the week amid the steady trends overseas.

    January 2018 - Week 2 (8 - 14):

    • Trading commenced for the week with silver rates holding steady at Rs.39,335 per kg on the 8th with little change in demand amid the firm trends overseas.
    • However, the white metal prices dropped to Rs.39,115 per kg the next day before plunging further to Rs.38,925 per kg on the 10th after the US dollar index rose against a basket of other major currencies amid the well-performing equities.
    • Silver rate in Chennai rebounded to Rs.39,110 per kg on the 11th after a decline in the US dollar value resulted in an increased buying by coin manufacturers and industrial units.
    • Strong domestic demand brought about by firm global cues led to silver prices holding steady at Rs.39,110 per kg on the 12th.
    • Demand, however, picked up towards the end of the week with the dollar plunging against other apex currencies in the global markets.
    • On the 13th, silver was priced at Rs.39,265 per kg before surging to Rs.39,355 per kg the following day owing to an incline in industrial demand for the metal.

    January 2018 - Week 3 (15 - 21):

    • Silver rates in India initially rose before dropping amid the strengthening US dollar and firmer equities during the week.
    • The week began with the white metal trading at Rs.39,670 per kg on the 15th after the weakened US dollar and equities resulted in an increased demand for the metal.
    • Steady global demand coupled with firm trends led to silver being priced at Rs.39,680 per kg on the 16th which continued trading at same rate on the 17th.
    • However, with the US greenback regaining lost ground, silver price in Chennai tumbled to Rs.39,265 per kg on the 18th which plunged further to Rs.39,115 per kg the next day.
    • Despite the poor trends overseas, demand for the metal picked up. This led to rates surging to Rs.39,265 per kg on the 20th.
    • The week ended with the industrial metal trading steady at Rs.39,265 per kg on the 21st amid the firm trends overseas.

    January 2018 - Week 4 (22 - 28):

    • Strong global cues coupled with an increased safe-haven demand resulted in silver prices rising significantly during the week.
    • The week commenced with silver rate in Chennai holding steady at Rs.39,265 per kg on the 22nd with steady industrial demand from the previous week.
    • Prices remained unaltered at Rs.39,265 per kg until the 24th owing to steady domestic demand brought about by the firm trends overseas.
    • The 25th, however, saw silver rates spiking to Rs.40,285 per kg after the weakened US dollar and equity markets led to an increase in demand by coin manufacturers and industries around the world.
    • Silver remained unchanged at Rs.40,285 per kg until the end of the week with strong and steady demand for the metal amid positive trends overseas.

    January 2018 - Week 5 (29 - 31):

    • The last week commenced in Chennai with the white metal trading at Rs.42,700 per kg on the 29th after the continued weak performance of the US dollar and equities led to an incline in safe-haven demand for the metal. This was also the highest recorded monthly figure.
    • Rates stabilised at Rs.42,200 per kg on the 30th with the US dollar index regaining lost ground in the global market.
    • Trading concluded with silver rates holding steady at Rs.42,200 per kg on the last day and Chennai registered a profit of 8.41% in silver trade during the course of the month.

    Trend of Silver Rate in Chennai for December 2017 (rates per kg)

    Parameters Silver price (per kg)
    Silver Rate on 1st December 2017 Rs.41,800 per kg
    Silver Rate on 31st December 2017 Rs.42,000 per kg
    Highest Rate in December Rs.42,000 per kg on 30 December
    Lowest Rate in December Rs.40,100 per kg on 06 December
    Overall Monthly Performance Increasing
    Percentage Change 0.48%

    December 2017 - Week 1 (1st - 10th)

    • Silver was priced at Rs.38,230 per kg when trading started for the month of December.
    • The initial few days saw prices drop on a consistent basis owing to poor global cues and local demand.
    • Silver prices in Chennai dropped to Rs.38,120 per kg on the 2nd before dropping again to Rs.37,965 per kg on the 4th of December.
    • On the 5th, silver rate in Chennai went down again - to Rs.37,865 per kg - before falling to Rs.37,600 per kg the next day.
    • With demand seeing no signs of picking up amid a strong US dollar performance, silver rates dropped to its highest levels this week to trade at Rs.37,180 per kg on the 7th of the month.
    • As local demand dropped further, silver rates hit Rs.36,715 per kg on the 8th of the month and this rate continued on till the end of the week.

    December 2017 - Week 2 (11th - 17th)

    • There was a brief rise in rates on the 11th with the white metal trading at Rs.36,920 per kg.
    • The incline, however, was short lived and prices dropped to Rs.36,620 per kg the next day before dropping to a monthly low figure of Rs.36,545 per kg.
    • A downturn in US dollar fortunes pushed demand up and silver traded at Rs.37,295 per kg on the 14th. This was mostly due to an increased off take from local jewellers and industrial units.
    • The high demand subsided and silver rate in Chennai fell to Rs.37,235 per kg on the 15th before dropping again to Rs.36,920 per kg the subsequent day.
    • On the last day of this week, i.e., silver rates surged back up to Rs.37,180 per kg as fluctuations in the US market kept precious metal trading on a relative high.

    December 2017 - Week 3 (18th - 24th)

    • Silver rates fluctuated during this week with a few ups and downs to be witnessed over the course of the seven days.
    • On the 18th of December, the white metal was priced at Rs.37,600 per kg. This rose to Rs.38,365 per kg on the 19th before continuing at this rate till the closing hours of the 20th.
    • The 21st, however, saw silver price in Chennai drop to Rs.37,600 per kg as sales took a hit owing to poor demand locally.
    • Silver rate in Chennai remained at Rs.37,600 per kg on the 22nd before rising slightly to Rs.37,865 per kg.
    • When the week ended, the white metal was still seen trading at Rs.37,865 per kg.

    December 2017 - Week 4 (25th - 31st)

    • The final week of December and 2017 saw silver price in Chennai start on a relative low before rising to month-high figures towards the end.
    • When trading commenced for the 25th of December, the white metal was priced at Rs.38,395 per kg. Due to a weak demand, rates dropped to Rs.38,005 per kg the next day.
    • However, a renewed year-end demand brought about by positive global cues pushed silver rates up. The white metal traded at Rs.38,455 per kg on the 27th of December.
    • As demand remained strong amid a weak dollar, silver rate in Chennai surged again to Rs.38,815 per kg on the 28th of the month.
    • The 29th saw silver price in Chennai incline as well to Rs.38,925 per kg before rising to Rs.39,265 per kg the next day.
    • On the final day of 2017, silver traded at a monthly high figure of Rs.39,265 per kg, which was due to strong year-end investor sentiments.

    Trend of Silver Rate in Chennai for November 2017 (rates per kg)

    Parameters Silver price (per kg)
    Silver Rate on 1st November 2017 Rs.39,530 per kg
    Silver Rate on 30th November 2017 Rs.38,460 per kg
    Highest Rate in November 2017 Rs.40,520 per kg on 18 and 19 November
    Lowest Rate in November 2017 Rs.38,460 per kg on 30 November
    Overall Monthly Performance Decline
    Percentage Change 2.70%

    November 2017 - Week 1 (1st - 5th)

    • When the month began in Chennai, silver was priced at Rs.39,530 per kg.
    • Due to a rise brought about by festive season demand, silver rates in Chennai rose to Rs.39,680 per kg on the 2nd and went up again to Rs.39,950 per kg on the 3rd of the month.
    • Prices, however, dropped on the 4th for the metal to trade at Rs.39,355 per kg due to a slowdown in demand.
    • When the week ended, the white metal was still trading at Rs.39,355 per kg.

    November 2017 - Week 2 (6th - 12th)

    • Overnight trading cues led to silver opening at Rs.39,365 per kg on the 6th of November.
    • On the 7th, silver price in Chennai surged to Rs.39,970 per kg as the US dollar plunged in its valuation, and the bullion industry took full advantage of it.
    • Gold price in Chennai went up again on the 8th, this time to trade at Rs.40,040 per kg on the 8th and continued at this rate till the closing hours of the 9th.
    • Demand dropped slightly as the US dollar made a recovery. The white metal traded at Rs.39,970 per kg on the 10th and remained unchanged for the remainder of the week.

    November 2017 - Week 3 (13th - 19th)

    • The third week of November saw silver rate in Chennai increase initially as uncertainty around the middle east contributed to a rise in demand.
    • Silver opened at a relatively subdued price of Rs.39,870 per kg on the 13th of November before surging to Rs.40,040 per kg on the 14th.
    • Prices went up again on the 15th for the white metal to trade at Rs.40,240 per kg as a strained British economy weighed in on bullion sales.
    • The 16th saw silver rate in Chennai drop back down to Rs.40,040 per kg as demand was subdued after the previous day’s sales.
    • Silver rates remained at Rs.40,040 per kg on the 17th before surging to Rs.40,520 per kg on the 18th as the strained relationship between the UK and the European Union took centre stage.
    • The week came to a close with the white metal still trading at Rs.40,520 per kg as demand from local circles in Chennai remained steady.

    November 2017 - Week 4 (20th - 26th)

    • When trade exchanges opened on the 20th, silver prices had dropped to Rs.39,780 per kg. Prices continued at the same rate on the 21st before increasing to Rs.39,950 per kg on the 23rd as local demand improved briefly.
    • Silver rate in Chennai dropped to Rs.39,780 per kg on the 24th of the month and continued at the same rate for the remaining days of the week.

    November 2017 - Week 5 (27th - 30th)

    • Silver prices in Chennai dropped on all four days of this week as demand continued to weaken as days passed.
    • On the 27th, the white metal traded at Rs.39,780 per kg, before going down to Rs.39,530 per kg on the 28th of November.
    • When the week ended, silver rate in Chennai had gone down by as much as Rs.650 per kg to close at Rs.38,460 per kg.
    • Overall, silver price trend improved by 2.7% this month, due to weak global markets and strong local demand.
    Parameters Silver price (per kg)
    October 1 Rate Rs.39,530 per kg
    October 31 Rate Rs.39,435 per kg
    Highest Rate in September Rs.40,670 per kg on 16 October
    Lowest Rate in September Rs.39,110 per kg on 5 October
    Overall Monthly Performance Decline
    Percentage Change -0.24%

    October 2017 - Week 1 (1st-8th):

    • The week began with the white metal trading steady at Rs.39,530 per kg.
    • Thanks to steady demand from industries and coin manufacturers, silver price in Chennai remained untouched at Rs.39,530 per kg the next day as well.
    • Silver rate in Chennai declined over the course of the next few days after the dollar strengthened amid possibilities of a new Fed rate hike during December.
    • This led to prices plunging to Rs.39,110 per kg on the 5th of October. This was also the lowest recorded monthly figure.
    • The 6th, however, witnessed rates rising to Rs.39,115 per kg owing to an incline in domestic demand amid positive overseas trends.
    • Strong global, as well as domestic cues led to the metal being priced at Rs.39,680 per kg on the 7th and 8th.

    October 2017 - Week 2 (9th-15th):

    • The second week witnessed silver price in Chennai surging during the week due to strong global cues coupled with improved local demand.
    • Silver opened the week trading at Rs.39,950 per kg on the 9th.
    • Rates surged to Rs.40,190 per kg on the 10th following positive trends in the domestic market.
    • The imminent arrival of the festive season pushed domestic demand higher for the white metal and silver was priced at Rs.40,440 per kg on the 12th.
    • The rest of the week witnessed silver rate in Chennai being steady at Rs.40,390 per kg with steady demand from industrial units and coin makers.

    October 2017 - Week 3 (16th-22nd):

    • The 16th witnessed silver price in Chennai touching the highest recorded monthly figure of Rs.40,670 per kg due to an increase in demand amid positive global trends.
    • But a strong US dollar and firmer equities market over the next couple of days led to the industrial metal trading at Rs.40,060 per kg on the 17th and 18th.
    • Despite the auspicious occasion of Dhanteras on the 19th, the domestic bullion demand remained uncharacteristically weak and pushed prices down to Rs.39,780 per kg.
    • However, prices picked up with the arrival of Dussehra pushing demand higher in the domestic trade. Silver was priced at Rs.40,040 per kg on the 20th.
    • A marginal increase in local demand led to the white metal being priced at Rs.40,060 per kg for the rest of the week.

    October 2017 - Week 4 & Week 5 (23rd-31st):

    • The last week opened relatively low at Rs.39,.950 per kg on the 23rd, but rates recovered to Rs. 40,040 per kg on the 24th owing to an increase in industrial buying in the domestic trade.
    • However, prices dropped significantly with the dollar strengthening against other major emerging currencies during the next couple of days. Silver price in Chennai was recorded trading at Rs.39,670 per kg on the 25th and the 26th.
    • Prices dropped further during the week as markets shifted focus from the ongoing US-North Korean geopolitical crisis to the release of the US employment data. The industrial metal was priced at Rs.39,435 per kg on the 27th.
    • Silver rate in Chennai dropped further as global demand declined with the US dollar gaining against other apex currencies and the metal was priced at Rs.39,115 per kg from the 28th to the 30th.
    • The month concluded with silver trading at Rs.39,435 per kg and Chennai registered a decline of 0.24% in rates during the month of October.
    Parameters Silver price (per 1 kg)
    Silver Rate on 1st September 2017 Rs.40,390 per kg
    Silver Rate on 30th September 2017 Rs.39,530 per kg
    Highest Rate in September Rs.41,900 per kg from 8-10 September
    Lowest Rate in September Rs.39,530 per kg on 28 to 30 September
    Overall Monthly Performance Decline
    Percentage Change -2.12%

    September 2017- Week 1 (1st to 10th)

    • Silver demand in Chennai was steady as the month began, with the industrial metal trading at Rs.40,390 per kg from 1-3 September.
    • Silver prices in Chennai rose to Rs.41,230 per kg on 4 September after demand from overseas industrial units increased, taking advantage of favourable U.S. dollar rates.
    • Local demand was also on the increase as silver rate in Chennai rose to Rs.41,495 per kg on 6 September.
    • As positive jobs data was released from the U.S., there was a slight slump in demand from Asia as the U.S. dollar rose.
    • Demand surged on 8 September, reaching Rs.41,900 per kg as the news of a nuclear test by North Korea sent markets crashing and investors rushed to buy bullion.
    • Silver price in in Chennai remained steady as the week ended on 10 September.

    September 2017- Week 2 (11th to 17th)

    • Prices were on the decline in the second week of September, with silver demand falling as market forces as well as a recovering dollar rate led to reduced demand.
    • Silver opened the week at Rs.41,075 per kg on 11 September and fell to Rs.41,030 per kg on 12 September as markets began to recover from the previous week’s losses.
    • Local demand was also muted as the dollar rate rose, making imports more expensive resulting in silver rates in Chennai dropping to Rs.40,890 per kg on 14 September.
    • Prices recovered marginally for the remainder of the week, with silver trading at Rs.41,030 per kg from 15-17 September.

    September 2017- Week 3 (18th to 24th)

    • Silver traded at Rs.40,440 per kg on 18 September as there was a minor dip in orders from Europe.
    • Silver prices in Chennai continued to drop for the rest of the week, with silver trading at Rs.39,680 per kg on 19 September.
    • Barring a minor rise in price on 20 September when silver traded at Rs.40,060 per kg, prices were stagnant as demand was static.
    • The industrial metal traded at Rs.39,670 per kg for the rest of the week, as local demand was also poor.

    September 2017- Week 4 (25th to 30th)

    • The last week saw a further decline in the price of silver in spite of continued geopolitical tensions in the United States.
    • Silver was priced at Rs.39,680 per kg on 25 September and briefly rose to Rs.40,285 per kg on 26 September following the victory of incumbent Chancellor Angela Merkel in the German elections.
    • The impending Catalan independence referendum did not appear to sway markets, which continued to rise, leading to a drop in demand for silver.
    • Prices dropped to Rs.39,530 per kg on 28 September and remained constant till the month ended on 30th September, registering a loss of 2.12%.  
    Parameters Silver price (per 1 kg)
    Silver Rate on 1st August Rs.38,995 per kg
    Silver Rate on 31st August Rs.40,060 per kg
    Highest Rate in August Rs.40,190 per kg on 30 August
    Lowest Rate in August Rs.37,235 per kg on 5 & 6 August
    Overall Monthly Performance Incline
    Percentage Change 2.73%

    August ‘17- Week 1 (1st to 6th)

    • Demand for silver fluctuated in the first week of August as industrial demand was subject to market vagaries.
    • Silver opened the week at Rs.38,995 per kg on 1 August but soon fell to Rs.38,230 per kg on 2 August due to poor local demand.
    • The rising U.S. dollar rate as well as the stable market scenario led to a reduction in overseas demand for the industrial metal, resulting in silver price in Chennai falling to Rs.27,965 per kg on 3 August.
    • Silver rate in Chennai rose fractionally to Rs.38,455 per kg on 4 August before a strengthening Euro led to a drop in industrial demand from the continent.
    • The week ended with silver priced at Rs.37,235 per kg on 6 August.

    August ‘17- Week 2 (7th to 13th)

    • The poor response to U.S. non-farm jobs data led to an increase in demand for bullion, leading to a rise in the price of silver in Chennai.
    • The white metal traded at Rs.38,345 per kg on 8 August and continued to rise throughout the week as industrial as well as retail demand rose.
    • Silver rate in Chennai was at Rs.39,670 per kg on 11 August as coin makers also capitalised on unstable market conditions and increased demand.
    • While local demand was still muted, there was a steady rise in demand from retail sectors, which helped keep prices stable.
    • The week ended with silver trading at Rs.39,670 per kg on 13 August.

    August ‘17- Week 3 (14th to 20th)

    • There was some turbulence in prices in the third week of August as markets began to recover from their earlier losses, resulting in lower demand for overseas orders.
    • Silver traded at Rs.39,435 per kg on 14 August amidst a gradual reduction in orders from China after data suggested a slowing down of their economy.
    • Local demand was also still lower than usual as industry acclimatised to the new taxation regime, resulting in silver prices dropping to Rs.38,640 per kg on 16 August.
    • Demand ramped up as the dollar rate fell due to continued political uncertainty over Obamacare in the United States, leading to silver price in Chennai rising to Rs.39,780 per kg on 18 August.
    • There was a dip in price as the week ended, with silver priced at Rs.39,115 per kg on 20 August.

    August ‘17- Week 4 (21st to 27th)

    • Silver price in Chennai were unchanged as the week began with silver trading at Rs.39,115 per kg on 21 August.
    • Demand began to rise marginally as industrial demand from overseas helped boost the white metal’s value, with silver rising to Rs.39,355 per kg on 24 August.
    • The dollar rate stabilised after considerable fluctuation, though this did not appear to affect silver prices in Chennai drastically.
    • The testing of a missile by North Korea on 26 August also failed to impact prices significantly, as silver continued to trade at Rs.38,995 per kg from 25-27 August.

    August ‘17- Week 5 (28th to 31st)

    • The last week of August saw a spike in demand for silver as the dollar rate plummeted following the escalation of tensions with North Korea.
    • In Chennai , Silver was priced at Rs.39,435 per kg on 28 August and jumped to Rs.40,440 per kg on 29 August, the highest rate for the month.
    • The impact of Hurricane Harvey as well as the possibility of war led to investors stockpiling bullion, with local demand also rising.
    • Silver rate in Chennai began to stabilise in the subsequent days, with silver prices falling to Rs.40,190 per kg on 30 August.
    • The high prices led to lower retail demand, which contributed to silver prices dropping to Rs.40,060 per kg on 31 August.
    Parameters Silver price
    July 1 Rate Rs.38,640 per kg
    July 31 Rate Rs.38,815 per kg
    Highest Rate in July Rs.38,815 per kg on 31 July
    Lowest Rate in July Rs.35,565 per kg on 10 July
    Overall Monthly Performance Increase
    Percentage Change 0.45%

    July ‘17- Week 1 (1st to 9th)

    • Silver opened the week at Rs.38,640 per kg on 1 July, with the price remaining constant for a few days due to stable demand from both local and overseas industrial units.
    • Prices dipped as U.S. markets and the dollar rose on positive cues, resulting in silver rates falling to Rs.37,705 per kg on 4 July.
    • Demand was subject to market volatilities, with silver prices rising to Rs.38,395 per kg on 5 July before prices dropped to Rs.37,600 per kg on 6 July.
    • Prices continued to fall as industrial demand was on the decline, with the industrial metal trading at Rs.37,115 per kg from 7-9 July.

    July ‘17- Week 2 (10th to 16th)

    • Silver price in Chennai plunged to Rs.35,565 per kg on 10 July as markets were on the rise following positive cues from the recently concluded G20 summit.
    • Demand was sluggish as industrial units reduced orders due to the high dollar rate but local demand helped raise prices to Rs.36,035 per kg on 11 July.
    • Geopolitical factors such as the political instability in the United States led to an increase in demand for silver, which led to the price rising to Rs.37,115 per kg on 13 July.
    • Demand dipped briefly to Rs.36,545 per kg n 14 July before recovering to end the week at Rs.37,115 per kg on 16 July.

    July ‘17- Week 3 (17th to 23rd)

    • There was a fluctuation in the price of silver in the third week of the month, with the industrial metal trading at Rs.37,180 per kg on 17 July as demand was steady.
    • Prices rose to Rs.38,395 per kg on 18 July as there was an increase in demand from coin makers, but prices dipped to Rs.37,600 per kg on 19 July due to vagaries in demand.
    • A dip in the U.S. dollar rate led to an increase in demand from overseas industrial units, which resulted in prices rising to Rs.38,000 per kg on 21 July.
    • Demand remained high with a few minor variations in the price of silver as the week ended with the industrial metal priced at Rs.37,965 per kg on 23 July.

    July ‘17- Week 4 (24th to 31st)

    • Unstable markets led to silver prices fluctuating in the final week of July due to an escalation in tensions between North Korea and the United States.
    • Silver traded at Rs.38,275 per kg on 24 July as the recent geopolitical tensions led to investors increasing demand for the white metal.
    • Prices fell marginally as the week progressed, with silver priced at Rs.38,005 per kg on 25 July due to a reduction in local demand.
    • In spite of favourable market conditions, local demand was muted as industry had reached saturation point, which resulted in prices falling to Rs.37,965 per kg on 26 July.
    • Demand picked up as European demand boosted prices, with silver reaching Rs.38,640 per kg on 27 July.
    • Silver price in Chennai were more or less steady for the remainder of the week, with the metal trading at Rs.38,815 per kg on 31 July.
    Parameters Silver price
    June 1 Rate Rs.40,060 per kg
    June 30 Rate Rs.38,640 per kg
    Highest Rate in June Rs.40,890 per kg on 6 & 7 June
    Lowest Rate in June Rs.38,455 per kg on 21 June
    Overall Monthly Performance Decline
    Percentage Change -3.54%

    June ‘17- Week 1 (1st to 4th)

    • Silver in Chennai saw fluctuations in its price, with the metal opening the month at Rs.40,060 per kg on 1 June.
    • Prices fell to Rs.39,780 per kg on 2 June before rising to Rs.40,670 per kg on 3 June due to an influx of demand from industrial units in Asia.
    • The low U.S. dollar rate led to increased demand for bullion, which helped keep prices stable as the week ended, with silver priced at Rs.40,670 per kg on 4 June.

    June ‘17- Week 2 (5th to 11th)

    • Silver prices rose in the second week of June due to consistently poor results from the stock markets as well as a weak U.S. dollar.
    • The white metal traded at Rs.40,725 per kg on 5 June before prices rose to Rs.40,890 per kg on 6 June.
    • Increased demand for silver coupled with a plunging U.S. dollar rate due to geopolitical crises in the United States led to prices remaining high till 7 June.
    • Silver priced dipped as the week progressed, trading at Rs.40,815 per kg on 8 June.
    • Prices fell sharply to trade at Rs.40,060 per kg on 9 June, with the price staying the same till the week ended on 11 June.

    June ‘17- Week 3 (12th to 18th)

    • Silver prices fell due to the strengthening of the U.S. dollar as well as declining demand from overseas markets and poor local demand led to silver trading at Rs.39,780 per kg on 12 June.
    • Prices dipped to Rs.39,115 per kg on 14 June as favourable jobs market data from the U.S. led to a revival of the markets as demand for silver fell.
    • Silver traded at Rs.38,995 per kg on 16 June to continued poor demand from industrial units and coin makers due to high import costs.
    • The week ended with silver trading at Rs.38,460 per kg on 18 June.

    June ‘17- Week 4 (19th to 25th)

    • Demand was still poor as silver opened the week at Rs.38,815 per kg on 19 June but soon fell to Rs.38,460 per kg on 20 June.
    • As the U.S. dollar gained on other global currencies and Brent crude prices stabilised, demand for silver fell as the metal traded at Rs.38,455 per kg on 21 June.
    • Prices rose to Rs.38,925 per kg on 23 June as an increase in demand from local industrial units helped bolster prices.
    • Prices remained stable as the week drew to a close, trading at Rs.38,925 per kg on 25 June.

    June ‘17- Week 5 (26th to 30th)

    • Prices did not see much improvement in the last week of June as demand for silver fluctuated.
    • Silver traded at Rs.38,815 per kg on 26 June before a dip in industrial demand led to prices falling to Rs.38,690 per kg on 27 June.
    • A late rally helped silver rise to Rs.39,110 per kg on 28 June as local demand was high prior to the implementation of GST.
    • In spite of unstable markets, prices dipped to Rs.38,640 per kg on 30 June as prices fell by 3.54% over the course of the month.
    May 1 Rate Rs.40,040 per kg
    May 31 Rate Rs.40,190 per kg
    Highest Rate in May Rs.40, 190 per kg from 26-28 & 31 May
    Lowest Rate in May Rs.37,800 per kg on 9 May
    Overall Performance Incline
    Percentage Change 0.37%
    Comparison for 1 gram Silver Rates for Chennai May'17

    May ’17 – Week 1 (1 to 7)

    • The price of silver in Chennai was on the decline in the first week of May due to decreasing demand from industry.
    • Silver was priced at Rs.40,040 per kg on 1 May but fell to Rs.38,925 per kg on 3 May as the U.S. Dollar experienced a revival in value and export demand for the white metal fell.
    • With uncertainty over the U.S. Federal Reserve’s monetary policy going forward, the markets were jittery but demand continued to remain sluggish, with silver trading at Rs.38,120 per kg on 5 May.
    • Prices continued to drop as the week ended, with silver trading at Rs.38,005 per kg on 7 May due to consistently low demand from the industrial sector both domestically and internationally.

    May ’17- Week 2 (8 to 14)

    • Prices continued to trade low, with silver opening the week at Rs.37,865 per kg on 8 May.
    • Prices fell to their lowest in the month, trading at Rs.37,800 per kg on 9 May as markets continued their bullish run, which led to investors pulling away from investments in bullion.
    • Local demand reflected overseas trends, with silver losing some of its sheen due to reduced orders from coin makers and industrial units.
    • Prices revived as the week was drawing to a close, with the price rising to Rs.38,005 per kg on 12 May.
    • There was no change in the price of silver as the week progressed, resulting in silver trading at Rs.38,005 per kg as the week ended on 15 May.

    May ’17- Week 3 (15 to 21)

    • The third week of May saw the price of silver increase due to a fluctuating U.S. Dollar as well as market uncertainty over the impact of GST on bullion and the markets in general.
    • Silver was priced at Rs.38,230 per kg on 15 May, with the price rising in the subsequent days owing to renewed interest from the industrial sector.
    • Prices rose to Rs.38,995 per kg on 17 May, marking a substantial jump in price as local demand increased following positive overseas cues.
    • Fluctuating currency rates and market instability led to an increase in demand for silver, which helped push prices to Rs.39,115 per kg on 19 May.
    • The week ended with silver prices remaining unchanged, trading at Rs.39,115 per kg on 21 May due to favourable market conditions.

    May ’17- Weeks 4 & 5 (22 to 31)

    • Silver prices in the last two weeks of May fluctuated marginally, though the trend was towards an increase in price.
    • The price of silver was Rs.39,435 per kg on 22 May, with the price rising to Rs.39,950 per kg on 25 May as both domestic and international demand was high.
    • The OPEC resolution to reduce Brent crude volumes in an effort to boost production negatively impacted the U.S. Dollar, which in turn led to increased demand for silver by overseas markets.
    • The price rose to Rs.40,190 per kg on 26 May and was steady for a few days as demand was consistent.
    • A minor dip was observed due to demand vagaries, though prices were still high.
    • Silver traded at Rs.40,285 per kg on 29 May due to a sudden rally by the market, though prices recovered as the month ended to trade at Rs.41,190 per kg on 31 May.
    April 1st Rate Rs.42,570 per kg
    April 30th Rate Rs.40,040 per kg
    Highest Rate in April Rs.43,055 per kg on 15th and 16th April
    Lowest Rate in April Rs.40,040 on 29th and 30th April
    Overall Performance Decline
    Percentage Change -0.059%

    April 2017 - Week 1 (1st - 9th):

    • Silver prices in Chennai fluctuated considerably during the first week of April due to a topsy-turvy demand.
    • On 1st of April, silver was priced at Rs.42, 570 per kg, which didn’t change on the 2nd as there was a sustained demand for the metal.
    • However, silver prices went down to Rs.42,435 per kg as demand from local coin makers and industrialists went down.
    • Rates went up just as they went down on 4th as silver trading rocketed to Rs.42,925 per kg - a Rs.490 increase in just a day’s time.
    • After that sudden increase in demand, prices corrected themselves slightly to reach Rs.42,730 per kg on 5th.
    • As demand fell on the 6th, silver rates went down again to reach Rs.42,570 per kg but went back up marginally to Rs.42,640 per kg as demand went up.
    • Silver prices remained largely the same over the next two days - till the 9th - as demand sustained for most of this period.

    April 2017 - Week 2 (10th - 16th):

    • When the second week of April began, there was a slump in silver prices.
    • Rates had gone from Rs.42,640 per kg to Rs.41,625 per kg on 10th and fluctuated over the next few days.
    • On 11th, prices increased marginally to hit Rs.41,675 per kg as demand also went up from various quarters of the industry as well as coin makers.
    • The 12th saw prices increase again as silver trading reached Rs.42,570 per kg.
    • When trading began on 13th, silver prices had seen one of its biggest inclines as rates went up to Rs.43,030 per kg - a Rs.460 increase from the previous day - as demand went up.
    • Rates remained at Rs.43,030 per kg on 14th but increased to Rs.43,055 per kg on the 15th before continuing at the same rate till the end of the week.
    • Rates seen on the 15th and the 16th were the highest silver prices for the month of May.

    April 2017 - Week 3 (17th - 23rd):

    • The third week of May saw silver prices fluctuate as demand seemed to rattle after hitting a new high for the first time in a few months.
    • When the third week began on 17th, silver was trading at Rs.43,055 per kg but went down to Rs.42,775 per gram on 18th as demand went down.
    • On the 19th, silver rates went down again - for the third consecutive day - as demand showed no sign of picking up.
    • However, there were sustained demand on the 19th and the 20th, which lead to rates remaining at Rs.42,365 per kg on both the days.
    • The 21st again saw silver price tumble - this time by Rs.365 - to reach Rs.41,980 per gram and remained the same till the end of the week on the 23rd.

    April 2017 - Week 4 (24th - 30th):

    • Silver rates in Chennai were at their worst during the last week of April.
    • When the week began, silver was trading at Rs.41,435 per gram, which then went down to Rs.40, 340 per gram.
    • Rates went up briefly on the 26th to reach Rs.40,520 per gram but decreased again to Rs.40,285 per kg.
    • There were plenty of fluctuations in demand which brought silver rates to Rs.40,390 per gram and then to Rs.40,040 per gram.
    • On the last day of April, silver was trading at Rs.40,040 - which happened to be the lowest silver rate for the entire month.
    March 1st Rate Rs. 43,970 per kg
    March 31st Rate Rs. 42,115 per kg
    Highest Rate in March Rs. 44,100 per kg on 2nd March
    Lowest Rate in March Rs. 40,040 per kg on 15th March
    Overall Performance Decline
    Percentage Change -4.21%

    March ‘17 - Week 1 (1st to 5th)

    • Silver prices in Chennai were recorded at Rs.43,970 per kg on the 1st of March.
    • Prices increased by Rs.130 on the second to jump to Rs.44,100 per kg, and this was the highest rate of silver in March.
    • Decline in demand saw prices plunge significantly on the 3rd of March, and the metal traded at Rs.42,730 per kg.
    • Prices rose on the 4th of March to Rs.43,295, and they remained at the same level until the close of the week thanks to increase in demand followed by stability.

    March ‘17 - Week 2 (6th to 12th)

    • The price of silver on the opening day of the second week of March was Rs.42,925 – the same as the price on the closing day of the first week of the month.
    • Prices dropped slightly on the following few days due to decline in demand. They were recorded at Rs.42,570 per kg on the 7th of March, Rs.41,900 per kg on the 8th of March, and Rs.41,435 per kg on the 9th of March.
    • A major decline on the 10th of March saw prices tumble to Rs.40,670 per kg, after which another decline saw rates drop to Rs.40,520 per kg on the 11th.
    • Prices remained unchanged on the last day of the second week of March as demand remained stable and the value of the metal at the close of trading was Rs.40, 520 per kg.

    March ’17- Week 3 (13th to 19th)

    • The price of silver on the first day of the third week of March was Rs.40,760 per kg thanks to a minor increase in demand.
    • Prices fell by Rs.320 on the second day of the third week and were recorded at Rs.40,440 per kg.
    • On the 15th of March, prices hit their lowest levels in the month as they touched Rs.40,040 per kg, after which an increase by Rs.850 saw them rise to Rs.40,890 per kg on the 16th.
    • A minor decline on the 17th saw prices fall to Rs.40,815 per kg and rates remained stable for the next three days, closing the third week of March at Rs.40,815 per kg.

    March ’17- Week 4 (20th to 26th)

    • Silver opened the penultimate week of the month at Rs.41,075 per kg, marking a small incline from the closing levels of the previous week.
    • Prices fell by Rs.350 on the 21st of March and were recorded at Rs.40,725 per kg.
    • On the 22nd of the month, prices rose marginally and were recorded at Rs.41,230 per kg.
    • Thanks to an increase in demand, silver closed the penultimate week of March on a strong note as rates rose to Rs.41,340 before rising again and closing the seven-day period at Rs.41,435 per kg.

    March ’17 – Week 5 (27th to 31st)

    • The price of silver on the first day of the last week was recorded at Rs.41,900 per kg.
    • An increase by Rs.215 on the 28th of the month saw prices rise to Rs.42,115 per kg, and stable demand ensured that prices remained the same on the 29th of the month as well.
    • On the 30th of March, prices increased by Rs.320 to settle at Rs.42,435 per kg, and a decline by the same amount on the last day of the month saw the metal close March at Rs.42,115 per kg.
    February 1st Rate Rs. 42,755 per kg
    February 28th Rate Rs. 44,085 per kg
    Highest Rate in February Rs. 44,140 per kg on 28th February
    Lowest Rate in February Rs. 42,080 per kg on 3rd February
    Overall Performance Rise
    Percentage Change +3.11%

    February ‘17 - Week 1 (1st to 5th)

    • There were a number of fluctuations noted in the price of silver during the first week of February in Chennai.
    • Silver opened at Rs.42,755 per kg on the 1st due to steady demand for this metal in both domestic and international markets.
    • The rate of silver rose to Rs.42,835 per kg on the 2nd due to increased demand. However, this could not be sustained and silver prices declined the next day to trade at Rs.42,080 per gram on the 3rd of February. This was also the lowest rate at which silver traded for the month of February in Chennai.
    • Due to fluctuations in the U.S. dollar price and subsequent increase in demand, the price of silver rose to Rs.42,355 per gram in the 4th of the month.
    • Silver closed the first week of February by trading at Rs.42,355 per kg which was the same rate as that of the previous day.

    February ‘17 - Week 2 (6th to 12th)

    • The second week saw silver trading at Rs.42,505 per kg which was slightly higher than that of the previous day.
    • Right after this, due to increased demand from industrialists and jewellers, the price of silver jumped to trade at Rs.42,730 per kg.
    • Rate of silver was Rs.42,775 per kg on the 9th of February thanks to sustained but lower demand for this metal.
    • The price of silver fell to Rs.42,365 per kg on the 10th due to reduction in the demand for this precious metal.
    • However, as the rate of the U.S. dollar fluctuated it lead to a hike in the demand for this metal. As a result the price of silver increased to trade at Rs.42,570 per kg on the 11th of February.
    • Prices fluctuated during the week, with silver continued trading at Rs.42,570 per kg on 12th February due to a sudden rise in demand.

    February ’17- Week 3 (13th to 19th)

    • A minor variation in the rate of the U.S. dollar led to sudden rise in the demand for silver with this metal trading at Rs.43,245 per kg on the first day of the third week of February.
    • This demand was however not very steady and fluctuated throughout the week. On the 14th of February, the price of silver plunged to Rs.43,030 per kg.
    • Prices rose to Rs.43,110 per kg on 15th February and later rose to Rs.43,480 per kg on 16th February due to a sudden drop in the value of the U.S. Dollar.
    • Local demand kept prices stable as demand fluctuated, trading at Rs.43,630 per kg on 17th February.
    • The week ended with silver trading at Rs.43,400 per kg on 19th February, due to steady demand.

    February ’17- Weeks 4 & 5 (20th to 28th)

    • The price of silver in the last two weeks of February fluctuated slightly varying demand for this precious metal from industrialists and coin makers.
    • Silver was priced at Rs.43,300 per kg on 20th February, before rising slightly to trade at Rs.43,085 on the 21st of February.
    • There was an increase in demand for this metal resulting in prices rising to trade at Rs.43,420 per kg on the 22nd of February.
    • A slight increase in demand from coin makers led to silver trading at Rs.43,910 per kg on 24th February.
    • Silver prices continued to trade at Rs.43,910 per kg on 25th February, with the price staying steady the next day as well.
    • Silver prices continued to rise as the month ended, trading at Rs.44,085 per kg on 28th February to record an overall rise of 3.11%. This was also the highest at which silver traded for the month of February.
    January 1st Rate Rs.39,035 per kg
    January 31st Rate Rs.41,900 per kg
    Highest Rate in January Rs.42,010 per kg on 30th January
    Lowest Rate in January Rs.39,035 per kg on 1st January
    Overall Performance Incline
    Percentage Change +7.33%

    January ‘17 - Week 1 (1st to 7th)

    • The price of silver in Chennai increased in the first week as regional as well as industrial demand was high.
    • Silver was priced at Rs.39,035 per kg on 1st January and rose to Rs.39,355 per kg on brisk trading in silver futures on the market.
    • Prices rose to Rs.40,520 per kg on 5th January as domestic demand also rose, as fluctuating markets led to investors investing in the metal to offset losses.
    • Silver prices fell marginally as the week ended, trading at Rs.40,390 per kg on 7th January, recording a weekly increase of Rs.1,355 per kg.

    January ‘17 - Week 2 (8th to 14th)

    • The second week of January saw the price of silver continue to rise as demand from the Asian markets as well as higher demand from coin makers kept prices high.
    • Silver traded at Rs.40,390 per kg on 8th January but quickly rose to Rs.40,520 per kg on 9th January on increased orders from industry.
    • Silver traded at Rs.41,360 per kg on 11th January as U.S. markets appeared to weaken on poor results, which led to the U.S. Dollar dropping in value.
    • Prices dipped marginally, trading at Rs.41,230 per kg on 13th January.
    • Silver ended the week trading at Rs.41,230 per kg on 14th January, recording a weekly increase in price of Rs.840 per kg.

    January ’17- Week 3 (15th to 21st)

    • The third week saw silver prices fluctuate due to variations in demand, with the metal trading at Rs.41,230 per kg on 15th January.
    • Prices jumped to Rs.41,340 per kg on 16th January as the U.S. Dollar was unstable due to uncertainty over possible changes in fiscal policy under Donald Trump.
    • Silver reached Rs.41,895 per kg on 18th January as domestic as well as overseas demand shot up, but prices settled as the week progressed.
    • Prices stabilised at Rs.41,675 per kg on 19th & 20th January before closing the week at Rs.41,930 per kg on 21st January.

    January ’17- Weeks 4 & 5 (22nd to 31st)

    • There was considerable fluctuation in the price of silver towards the last week of January due to fluctuations in markets and global currencies.
    • Silver traded at Rs.41,930 per kg on 22nd January as demand was stable from the previous week.
    • Prices soon fell, as silver traded at Rs.41,860 per kg on 23rd January and later dropped to Rs.41,435 per kg on 25th January.
    • The Lunar New Year holiday led to lower demand from Asia, as silver fell to Rs.41,075 per kg on 27th January.
    • Prices recovered as the month ended, with silver trading at a monthly high of Rs.42,010 per kg on 30th January on increased industrial demand.
    • Silver ended the month trading at Rs.41,900 per kg on 31st January, registering an increase of 7.33%.
    December 1st Rate Rs.40,495 per kg
    December 31st Rate Rs.39,035 per kg
    Highest Rate in December Rs.41,495 per kg on 8th December
    Lowest Rate in December Rs.38,725 per kg from 23rd-25th December
    Overall Performance Decline
    Percentage Change -3.60%

    December '16 - Week 1 (1st to 4th)

    • Silver prices in Chennai increased in the first week of December due to stable demand from industry.
    • Silver was priced at Rs.40,495 per kg on 1st December and rose to Rs.41,070 per kg on 3rd December.
    • Demand from overseas was high as markets were unstable due to fears of a slowdown.
    • Silver ended the week at Rs.41,070 per kg on 4th December, marking a nominal increase in price.

    December '16 - Week 2 (5th to 11th)

    • Prices of silver were stable, rising marginally during the week as demand increased.
    • Silver traded at Rs.40,650 per kg on 5th December, with the price rising to Rs.41,495 per kg on strong cues from the international bullion market.
    • Festive demand also bolstered prices to an extent, as the currency shortage showed signs of easing.
    • Silver prices fell marginally as the week ended, trading at Rs.41,345 per kg on 11th December.

    December '16 - Week 3 (12th to 18th)

    • Prices fluctuated during the week as markets rose, reducing demand for bullion.
    • Silver traded at Rs.40,880 per kg on 12th December, rising to Rs.41,340 per kg on 13th December.
    • Demand eased as the U.S. Dollar gained on global currencies, which led to demand for silver falling.
    • Silver fell as retail demand dropped, resulting in silver ending the week priced at Rs.39,305 per kg on 18th December.

    December '16 – Week 4 (19th to 25th)

    • The week before Christmas saw increased demand overseas, though domestic demand remained low.
    • Silver traded at Rs.39,265 per kg on 19th December due to a reduction in industrial demand.
    • Demand from Asian countries reduced as industrial bookings dropped, which led to prices lowering.
    • Silver traded at Rs.38,725 per kg on 25th December, with prices recording a marginal drop in value.

    December '16 – Week 5 (26th to 31st)

    • The last week of December saw prices rise marginally, though demand as well below projections.
    • Silver traded at Rs.38,455 per kg on 26th December, with prices rising throughout the week.
    • Demand rose overseas, which helped raise domestic prices to Rs.39,605 per kg on 29th December.
    • Domestic markets performed well as currency was available freely, which led to silver demand dropping slightly.
    • Silver traded at Rs.39,035 per kg on 31st December, with silver prices falling by 3.60% overall.
    November 1st Rate Rs.43,310 per kg
    November 30th Rate Rs.41,275 per kg
    Highest Rate in November Rs.44,775 per kg on 11th November
    Lowest Rate in November Rs.40,405 per kg on 24th November
    Overall Performance Decline
    Percentage Change -4.69%

    November '16 - Week 1 (1st to 6th)

    • Silver prices in Chennai were high at the start of the month, with silver trading briskly.
    • Silver was priced at Rs.43,310 per kg on 1st November as industrial demand was high.
    • Retail demand was strong as festive season purchases led to higher bookings by jewellers.
    • Silver traded at Rs.44,180 per kg on 6th November, recording a marginal increase in price.

    November '16 - Week 2 (7th to 13th)

    • Silver maintained its price during the second week as markets fell as news of Donald Trump’s victory in the U.S. presidential race broke.
    • Silver traded at Rs.43,735 per kg on 7th November due to a plunging U.S. Dollar, which boosted silver exports.
    • The announcement of the demonetisation of Rs.1,000 and Rs.500 notes led to domestic markets crashing, which bolstered silver demand.
    • Silver prices were high as the week progressed, with the metal reaching its monthly high of Rs.44,775 per kg on 11th November.
    • Silver ended the week at Rs.42,005 per kg on 13th November as a currency shortfall led to declining demand.

    November '16 - Week 3 (14th to 20th)

    • Silver prices dropped as the acute currency shortage affected the economy, putting a dampener on festive silver purchases.
    • Silver was priced at Rs.42,065 per kg on 14th November, with prices falling in the subsequent days due to a recovering market and declining demand from the industrial sector.
    • Overseas demand for silver also dipped as the U.S. Dollar made gains, resulting in silver demand falling.
    • Silver traded at Rs.40,735 per kg on 20th November, with prices falling sharply compared to the start of the week.

    November '16 - Week 4 and 5 (21st to 30th)

    • The price of silver fell in the last two weeks, trading at Rs.41,025 per kg on 21st November.
    • The price rose marginally but soon dipped as markets rose on positive cues.
    • Silver fell to its monthly low of Rs.40,405 per kg on 24th November as retail demand fell sharply.
    • Silver made a slight recovery as the month ended, trading at Rs.41,275 per kg on 30th November.
    October 1st Rate Rs.45,900 per kg
    October 31st Rate Rs.42,875 per kg
    Highest Rate in October Rs.45,900 per kg on 1st and 2nd October
    Lowest Rate in October Rs.41,780 per kg on 15th and 16th October
    Overall Performance Decline/Negative
    Percentage Change -6.59%

    October ’16- Weeks 1 & 2 (1st-9th)

    • Silver was priced at Rs.45,900 at the start of October in Chennai on sustained industrial demand.
    • Prices dipped marginally as industrial demand dropped during the middle of the week.
    • Domestic demand was stable, but cues from international markets led to prices falling nonetheless.
    • Silver traded at Rs.41,800 per kg on 9th October, the steepest drop in price for the entire month.

    October ’16- Week 3 (10th- 16th)

    • Prices rose marginally as domestic demand was high due to the festive season.
    • Demand from jewellers and a slight increase in industrial demand led to silver trading at Rs.42,585 per kg on 10th October.
    • The price was stable with very minor fluctuations at the start of the week before dropping due to low demand.
    • Silver traded t Rs.41,780 per kg, a decrease of Rs.805 per kg from the start of the week.

    October ’16- Week 4 (17th-23rd)

    • Silver prices appreciated on higher demand due to unstable currency markets.
    • Silver traded at Rs.41,845 per kg on 17th October and rose to Rs.42,380 on 20th October.
    • With international trends reflecting a rise in price, domestic demand also rose marginally, contributing to a rise in price.
    • Silver traded at Rs.42,130 per kg on 23rd October, an increase of Rs.285 per kg from the beginning of the week.

    October ’16- Week 5 (24th-31st)

    • Uncertain markets and a low U.S. Dollar led to demand for silver being relatively stable.
    • Silver traded at Rs.42,340 per kg on 24th October on sustained demand from both domestic and overseas markets.
    • The price rose marginally due to higher domestic demand before stabilising towards the middle of the week.
    • A sharp drop in the market led to a late rally, with silver trading at Rs.42,875 per kg on 31st October for an increase in price of Rs.535 per kg for the week.
    1st Day Rs.45,010 per kilogram
    Last Day Rs.46,175 per kilogram
    Highest Price Rs.47,735 per kilogram on 8th September
    Lowest Price Rs.45,010 per kilogram on 1st September
    Trend Increase
    Change +2.59%

    September '16 - Week 1 (1st to 4th)

    • On 1st September, silver traded at Rs.45,010 per kilogram.
    • Prices climbed this week as demand in the global and domestic market was high.
    • Slow economic data from the U.S. indicated that a Fed rate hike will not be feasible this month.
    • Silver prices rose to Rs.46,760 per kilogram on 3rd and 4th September.

    September '16 - Week 2 (5th to 11th)

    • The increasing trend in silver prices continued into the second week of September.
    • Silver traded at Rs.46,760 per kilogram on 5th September.
    • The highest price recorded for the month was Rs.47,735 per kilogram on 8th September.
    • Prices of silver dropped to Rs.46,835 per kilogram on 9th to 11th September.
    • The decline in prices can be attributed to the rising prospects of a Fed rate hike coupled with slow domestic demand.

    September '16 - Week 3 (12th to 18th)

    • On 12th September, silver traded at Rs.45,695 per kilogram.
    • Prices fluctuated this week as the global market was uncertain of the U.S. Federal Reserve interest rate hike this month.
    • Silver rose to the highest for the week on 14th September trading at Rs.45,940 per kilogram.
    • By the end of the week, silver rates had fallen to Rs.45,370 per kilogram.
    • Silver traders took to the sidelines as silver prices were volatile.

    September '16 - Week 4 (19th to 25th)

    • Silver traded at Rs.46,100 per kilogram on 19th September.
    • Bullish sentiments filled the global market as the Fed rate hike was put on pause for the time being in light of the U.S. presidential elections.
    • Silver rates rose to Rs.47,560 per kilogram from 23rd to 25th September.
    • Savvy investors, industrialists and coin makers increased their offtake.

    September '16 - Week 5 (26th to 30th)

    • Silver traded at Rs.46,685 per kilogram on 26th September.
    • Silver dropped to its lowest for the week on 28th September, trading at Rs.45,645 per kilogram.
    • Demand from industrialists and coin makers stalled as the atmosphere in the global market turned bearish.
    • Prices fluctuated with but the trend overall was a decline this week.
    Factor August
    01st August Rs.49, 200
    31st August Rs.45,320
    Highest Price Rs.49, 660 on 03rd August
    Lowest Price Rs.44, 900 on 29th August
    Trend Decline in silver prices
    Change -7.88%

    August 2016 – Weeks 1 (1st to 7th)

    • Silver prices opened at Rs.49, 200 per kg.
    • On the third day of the month, silver traded at Rs.49, 660 per kg which was also the highest rate at which silver traded during the month of August.
    • Silver closed at Rs.47,255 per kg on the last day of the week.

    August '16 – Week 2 (8th to 14th)

    • At the first day of the second week of month of August, silver traded at Rs.47, 280.
    • On the third day of the month, 10th of August, silver prices increased due to high demand from local jewellers and coin makers and remained steady for 2 days and reduced even further after.
    • Silver prices declined to Rs.47, 750 per kg and remained steady from 12th-14th August.

    August '16 – Week 3 (15th to 21st)

    • There was a minor increase in Silver prices on the second day of the week, 16th August as compared to the previous week.
    • As the week continued, silver prices continued to fall.
    • Despite lack of interest from local jewellers and coin makers, silver closed at Rs.46, 690 at the end of third week of the month.

    August '16 – Week 4 (22nd to 28th)

    • There was a slight decline in Silver prices at the beginning of fourth week of the month. Silver traded at Rs.45, 800 per kg on 22nd August 2016.
    • There was a slight increase noted on 23rd August. Silver prices increased Rs.90 per kg.
    • Due to continued lack of demand from spot markets, silver prices fell and traded at Rs.45, 040 from 25th August-28th August.

    August '16 - Week 5 (29th to 31st)

    • Silver price opened at Rs.44, 900 per kg which is also the lowest silver rate reported during the month.
    • The last two days of the week marked a slight increase in silver prices.
    • Silver closed at Rs.45, 320 per kg despite lack of demand.
    1st Day Rs.46,650 per kg
    Last Day Rs.48,970 per kg
    Highest Price Rs.49,415 per kg on 12th July
    Lowest Price Rs.46,650 per kg on 1st July
    Trend Rise
    Change +4.97%

    July'16 - Week 1 and 2 (1st to 10th)

    • Silver opened at Rs.46,650 per kg on the first day of the month which was also the lowest rate at which silver was priced during the month of July.
    • Price of silver increased steadily henceforth after staying steady Rs.47,925 per kg over the next two days.
    • The price of silver Rs.49,265 per gram on the 6th and 7th of July which was also the highest for the week.
    • Silver closed at Rs.47,720 per kg on the last day of the week.

    July'16 - Week 3 (11th to 17th)

    • On the opening day of the third week of July, the price of silver was Rs.49,200 per gram which was one of the highest for the month and the next day, the rate of silver was the highest for the month.
    • After this, price of silver declined marginally.
    • Price of silver was steady on the 16th and 17th at Rs.48,840 per kg and reduced even further after.

    July '16 - Week 4 (18th to 24th)

    • There was a minor decline noted in the price of silver on the first day of week four as compared to the previous week.
    • Rate of silver continued to decrease as the week continued.
    • The fourth week of the month closed with silver being priced at Rs.47,420 per kg amid decreasing demand from jewellers and coin makers.

    July‘16 - Week 5 (25th to 31st)

    • There was again a minor decline noted in the price of silver on the first day of the fifth week of July as compared to the rates of the previous week.
    • There was however, a slight increase noted in the price of silver after that.
    • Silver closed at Rs.48,970 per kg on the last day of the month.
    June 1st Rate Rs.38,720 per kg
    June 30th Rate Rs.44,725 per kg
    Highest Rate in June Rs.44,725 per kg on the 30th of June
    Lowest Rate in June Rs.38,720 per kg on the 1st of June
    Overall Performance Rising
    Percentage Change 15.50%

    June 2016 – Week One(June 1st to June 4th)

    • Silver traded at Rs.38,720 per kg on the 1st of June.
    • The price of silver climbed to Rs.39,075 per kg on the 3rd of June.
    • The price further increased as silver hit Rs.39,755 per kg on the 4th of June.

    Jun'16 - Week 2 (5th to 11th)

    • Silver traded at Rs.39,755 per kg on the 5th of June.
    • Prices dropped down to Rs.39,370 per kg on the 7th of June.
    • The price of silver increased as the week progressed and silver hit Rs.41,510 per kg on the 10th of June and remained the same on the 11th of June.

    Jun'16 - Week 3 (12th to 18th)

    • Silver remained unchanged and traded at Rs.41,510 per kg on the 12th of June.
    • The price increased the very next day, owing to global demand and silver hit Rs.41,835 on the 13th of June.
    • Silver traded at Rs.43,055 per kg on the 16th of June.
    • The price declined further over the week and silver hit Rs.42,280 on the 18th of June.

    Jun'16 - Week 4 (19th to 25th)

    • Silver traded at Rs.42,280 per kg on the 19th of June.
    • Due to heavy demand in the global market,the price of silver rose to Rs.42,405 per kg on the 21st of June.
    • The price of silver relatively increased over the week and hit Rs.43,465 per kg on the 24th of June.
    • The price of silver remained unchanged on the 25th of June at Rs.43,465 per kg.

    Jun'16 - Week 5 (26th to 30th)

    • Silver traded at Rs.43,465 per kg on the 25th and 26th of June.
    • The price further increased to Rs.44,440 per kg on the 29th of June.
    • Silver closed the month at Rs.44,725 per kg on the 30th of June.
    1st May rate Rs. 42,590
    31st May rate Rs. 39,010
    Highest rate in May Rs. 42,590 on 1st of May
    Lowest rate in May Rs. 38,705 on 30th of May
    Overall performance Loss/Negative
    % Change -8.40%

    May '16 - Weeks 1 and 2 (1st to 8th)

    • Silver trading for the month of May opened at Rs. 42,590 per kg on the back of strong demand and a weak Dollar.
    • The first week saw silver close at Rs. 41, 875, a slight dip in rates due to market fluctuations.
    • The steady demand and continued market volatility contributed to a silver maintaining its price over the week.
    • A lessening of demand brought down prices by a small margin towards the end of the week.

    May '16 -Week 3 (9th to 15th)

    • Silver made small gains during the week but less demand and a recovering Dollar kept prices low.
    • Silver traded at Rs. 41,635 per kg on 9th of May and at Rs. 41, 255 on 15th of May.
    • Indications of a rate hike by the U.S. Federal Reserve contributed to a Dollar resurgence ass it gained on other currencies, lowering investor demand for silver.
    • Silver dropped sharply on the 10th of May due to the Dollar appreciating but stabilised over the rest of the week.

    May '16 - Week 4 (16th to 22nd)

    • Silver prices continued their downward drop as fresh data indicated a strong possibility of a rate hike, boosting the Dollar.
    • The price of silver was Rs. 41,255 on the 16th of May and Rs. 40,135 on the 22nd of May.
    • Data from the U.S. job market showed positive growth, which boosted investor confidence in the economy resulting in renewed interest in stocks as opposed to bullion.
    • The data also indicated a rate hike would come sooner rather than later, shoring up the Dollar as bullion took a hit.

    May '16 - Weeks 5 and 6 (23rd to 31st)

    • The last weeks of May saw silver drop further to new lows as the economy rallied on positive news from U.S. manufacturing data as well as a stronger Dollar.
    • Silver traded at Rs. 39,780 per kg on the 23rd of May and dropped further at the end of the week, trading at Rs. 39,010 on the 31st of May.
    • Silver dropped sharply on the 30th of May as data indicated the economy grew and the Dollar traded stronger.
    • The markets stabilised with job growth and manufacturing data showing a significant growth and demand for silver dropping.
    April 1st Rate Rs.37,015
    April 30th Rate Rs.42,590
    Highest Rate in April Rs.42,590 on the 30th of April
    Lowest Rate in April Rs.35,765 on the 4th of April
    Overall Performance Gain / Positive
    Percentage Change +15%

    Apr'16 - Weeks 1 & 2 (1st to 10th)

    • Silver rates fluctuated widely in the first week of trading as prices were on the decline until the 4th of the month after which they increased steadily for the next three days before remaining steady during the last three days of the ten-day period.
    • Prices were recorded at Rs.37,015 on the 1st of the month and Rs.36,620 on the tenth day of the month.
    • Despite marginal declines in the first few days, prices rose and remained consistent during the last few days of trading as a result of firming international and domestic cues in addition to increase in industrial demand and higher offtake.

    Apr ‘16 - Week 3 (11th to 17th)

    • Silver prices fluctuated during the third week of trading as rates increased at the start of the week before recording a marginal decline mid-way through the week, and then rose again as the week came to a close.
    • Prices were recorded at Rs.37,180 on the 11th of April and Rs.39,110 by the end of the seven-day period.
    • Prices were on the up by almost Rs.2000 over the third week of trading, marking a significant increase owing to increase in demand and strong global cues.

    Apr ‘16 - Week 4 (18th to 24th)

    • The fourth week of April also witnessed fluctuations in silver rates as prices remained unchanged for the first two days before increasing on the following two days and then dipping marginally and remaining constant until the end of the week.
    • Prices were recorded at Rs.38,860 on the first day of the week and Rs.41,155 on the last.
    • Over the course of the week, prices jumped by almost Rs.2300, making the penultimate week of trading record the highest gains in the month of April.

    Apr ‘16 - Week 5 (25th to 30th)

    • Silver rates were mostly on the rise during the final week of trading as prices increased for the first three days before declining marginally on the fourth day and then picking up to record the highest price in the month.
    • Prices were recorded at Rs.40,520 on the first day of the week and Rs.42,590 on the last day of the month.
    • The rise in prices during the last week of the month ensured that rates were up by a further Rs.2000.
    1st March rate Rs.36,640
    31st March rate Rs.36,715
    Highest rate in March Rs.38,455 on 18th
    Lowest rate in March Rs.35,260 on 2nd
    Overall performance Gain/Positive
    % Change +0.20%

    Mar'16 - Week 1 (1st to 6th)

    • Silver prices were stable on the whole during the first week.
    • Prices were Rs.36,640 on 1st and Rs.36,640 on 6th.
    • Silver experienced a drop on 2nd to Rs.35,260 before gaining the lost value on 3rd and stabilizing for the rest of the week.

    Mar'16 - Mar'16 - Week 2 (7th to 13th)

    • Silver rates declined substantially in the second week.
    • Rates were Rs.37,915 on 7th and Rs.35,260 on 13th.
    • Silver prices dropped on 8th and 11th but remained stable otherwise.

    Mar'16 - Week 3 (14th to 20th)

    • Prices were marginally up in the third week.
    • Prices were Rs.37,850 on 14th and Rs.37,865 on 20th.
    • Silver touched a high of Rs.38,455 on 18th but remained in the 37,000s for the rest of the week.

    Mar'16 - Week 4 (21st to 27th)

    • Silver lost some more value in the 4th week.
    • Rates were Rs.37,705 on 21st and Rs.36,685 on 27th.
    • Prices rose to Rs.38,395 on 22nd before losing out the gains and settling Rs.15 higher than week-starting rates.

    Mar'16 - Week 5 (28th to 31st)

    • Silver was marginally up in the last week.
    • Prices were Rs.36,545 on 28th and Rs.36,715 on 31st.
    1st February rateRs.35,040
    29th February rateRs.36,605
    Highest rate in FebruaryRs.38,525 on 12th
    Lowest rate in FebruaryRs.34,975 on 2nd
    Overall performanceGain/Positive
    % Change+4.47%

    Week 1 (1st to 7th)

    • Silver prices were up at the beginning of February.
    • Prices were Rs.35,040 on 1st and Rs.36,690 on 7th.
    • Silver fell on 2nd before rallying over the rest of the week to rise to a high of Rs.36,690 by 7th.

    Week 2 (8th to 14th)

    • Silver was up again going into the second week.
    • Rates were Rs.35,900 on 8th and Rs.37,800 on 14th.
    • Silver rallied and rose by an overall margin of Rs.1,900 over the course of the second week.

    Week 3 (15th to 21th)

    • Prices were marginally up in the third week.
    • Prices were Rs.37,100 on 15th and Rs.37,600 on 21st.
    • Silver prices fluctuated all throughout the week, ultimately closing Rs.500 higher.

    Week 4 (22nd to 29th)

    • Silver prices broke the positive streak and ended lower in the last week of February.
    • Rates were Rs.37,400 on 22nd and Rs.36,400 on 29th.
    • Silver had all negative sessions in the week, though it was stable at Rs.37,330 from 26th to 28th before falling to Rs.36,605 on 29th.

    4 th January rate

    Rs.33,515

    31 st January rate

    Rs.34,930

    Highest rate in January

    Rs.35,485 on 28th

    Lowest rate in January

    Rs.33,360 on 13th

    Overall performance

    Gain/Positive

    % Change

    +4.22%

    Jan '16 - Week 1 (4 th to 10 th )

    • Silver Rates appreciated marginally at the beginning of January.

    • Prices were Rs.33,515 on 4th and Rs.33,865 on 10th.

    • Prices rose consistently through the week albeit at smaller margins to touch Rs.33,865 by 8th.

    • Rates were stable at Rs.33,865 for 9th and 10th.

    Jan '16 - Week 2 (11 th to 17 th )

    • Silver prices appreciated again during the 2nd week.

    • Rates were Rs.33,710 on 11th and Rs.34,335 on 17th.

    • Prices slid to a low of RS.33,360 by 13th before recovering on the next day to touch Rs.34,335.

    • Silver remained stable at Rs.34,335 for the rest of the week.

    Jan '16 - Week 3 (18 th to 24 th )

    • Silver gained more value in the 3rd week.

    • Prices were Rs.34,005 on 18th and Rs.34,425 on 24th.

    • Prices touched a high of Rs.34,630 on 21st before settling at Rs.34,425 for the remaining days.

    Jan '16 - Week 4 (25 th to 31 st )

    • Silver continued its modest gains to the 4th week also.

    • Prices were Rs.34,505 on 25th and Rs.34,930 on 31st.

    • Silver rose consistently through the first part of the week to touch a high of Rs.35,485 on 28th.

    • Prices slid to Rs.34,930 by 31st.

    1stDecember rate Rs.34,030
    31stDecember rate Rs.33,150
    Highest rate in December Rs.35,095 on 7th
    Lowest rate in December Rs.33,055 on 18th
    Overall performance Loss/Negative
    % Change -2.59%


    Dec'15 - Week 1 (1stto 7th)
    • Silver Rates appreciated at the beginning of December.
    • Prices were Rs.34,030 on 1st and Rs.35,095 on 7th.
    • Silver traded in positive all through the week except on 3rd when prices dropped by Rs.500 to settle at Rs.33,580.
    Dec'15 - Week 2 (8thto 14th)
    • Silver prices depreciated in the 2nd week of the month.
    • Rates were Rs.34,410 on 8th and Rs.33,485 on 14th.
    • Silver was trading stably at just over Rs.34,000 till 13th before dropping by Rs.525 on 14th to end the week at Rs.33,485.
    Dec'15 - Week 3 (15thto 21st)
    • Silver prices appreciated in the 3rd week.
    • It was priced at Rs.33,200 on 15th and Rs.34,035 on 21st.
    • Silver appreciated to Rs.33,905 by 17th before dropping back to Rs.33,055 on 18th.
    • Prices went on an upward spree from 19th and breached Rs.34,000 mark on 21st by trading at Rs.34,035.
    Dec'15 - Week 4 and Week 5 (22ndto 28th, 29thto 31st)
    • Silver prices were down by Rs.1,080 in the last weeks of December.
    • Prices were Rs.34,230 on 22nd and Rs.33,150 on 31st.
    • Silver traded at just above Rs.34,000 throughout the 4th week but fell to Rs.33,670 on 28th and continued the downward slide to touch a low of Rs.33,150 on 31st.
    1stNovember rate Rs.36,675
    30thNovember rate Rs.34,005
    Highest rate in November Rs.37,800 on 10th
    Lowest rate in November Rs.33,775 on 23rd
    Overall performance Loss/Negative
    % Change -7.28%
    Nov '15 - Week 1 (1st to 7th)
    • Silver Rates depreciated at the start of the month.
    • Prices were Rs.36,675 on 1st and Rs.35,220 on 7th.
    • There was only one positive session for silver in the week on 6th when prices rose by Rs.240 to Rs.24,825 from Rs.34,585 on 5th.
    • Silver dropped by Rs.605 on 30th to rest at Rs.35,220 for the week.
    Nov '15 - Week 2 (8th to 14th)
    • Silver prices declined in the 2nd week of November.
    • Rates were Rs.35,220 on 8th and Rs.34,090 on 14th.
    • Silver rose by Rs.1,045 and Rs.1,535 on 9th and 10th to Rs.36,265 and Rs.37,800 respectively.
    • Prices dropped by Rs.3,465 on 11th to settle at Rs.34,665 before losing another Rs.575 over the next 3 days.
    Nov '15 - Week 3 (15th to 21st)
    • Silver Rates were stable overall in the 3rd week.
    • It was priced at Rs.34,090 on 15th and Rs.34,005 on 21st.
    • Silver rose to Rs.34,295 on 16th before losing value for the next 3 days to settle at Rs.34,045 by 19th.
    • Silver rose to Rs.34,255 on 20th and dropped to Rs.34,005 on 21st.
    Nov '15 - Week 4 and Week 5 (22nd to 28th, 29th to 30th)
    • Silver prices were stable again in the last weeks of November.
    • Prices were Rs.34,005 on 22nd and Rs.34,005 on 30th.
    • Silver dropped to Rs.33,775 on 23rd and had risen to Rs.34,345 by 26th before settling at month ending rate of Rs.34,005 by 30th.

    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.

    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.

    Also Check Silver Price in NearBy Cities of Chennai

    Silver Rate in Bangalore Silver Rate in Trichy Silver Rate in Madurai
    Silver Rate in Vijayawada Silver Rate in Visakhapatnam Silver Rate in Pondicherry
    Also Know:Gold Rate in Chennai

    Read more on Silver

    News About Silver Rate in Chennai

    • Silver trade expected to surge by mid-year

      Investors and traders and expect silver rates to hit the Rs.40,000 - Rs.41,000 per kg by July-August due to an increasing demand for electric vehicles and solar panels in the market. The industrial metal was recorded trading at Rs.39,237 per kg during the closing hours for the year. According to reports, demand for silver utilised in solar photovoltaic process surged by 23% during the previous year.

      2nd January 2018

    • Silver Prices Stabilise Ahead of Fed Meet

      The silver price appears to have stabilised after a series of bounces, due in part to the U.S. dollar rate. With a decline in the value of the greenback, silver rates appear to be making some gains.

      There were a series of price fluctuations over the April-June 2017 quarter as demand was not up to expected standards. The U.S. Federal Reserve meeting that’s coming up could likely result in some downward movement, but the trend appears to be one of stability in spite of the market volatility.

      25th July 2017

    • Price of gold and silver on the rise, jewellers on a purchasing spree

      The rate of gold shot up by Rs.300 to trade at Rs.29,350 per 10 grams at the bullion market in tandem with firm overseas trend due to a higher buying of this metal by local jewellers. Silver followed in gold’s footsteps to cross the Rs.41,000 mark by trading at Rs.41,450 per kg which was an increase of Rs..500 due to increased demand from coin makers and industrial units.

      According to bullion traders, in addition to a firm overseas trend, higher buying from local jewellers at domestic spot market led to a rise in gold rates. Across the world, rate of gold increased by 0.25% to $1,247.30 per ounce and silver by 0.20% to trade at $17.55 per ounce in Singapore.

      22nd March 2017

    • Silver Soars to 2-Year High

      Silver prices soared on Monday reaching a 2-year high. The prices surged on the back of bold bets made by buyers in China in the futures market. Silver rates have been on the rise ever since the Brexit vote. Investors have created an increase in demand betting on the central banks providing more stimulus. Spot silver traded above $21 per ounce rising by about 7% in U.S. trading. Gold rose to $1,350.79, also marking a 2-year high. After the Brexit vote, gold has risen by 6.6% and silver has risen by 18%. Peering into the future, the 2-week high might put the silver prices at a risk of pulling back.

      8th July 2016

    • Silver shows an unexpected Gain

      Speculation on gold in the international market might not have paid off well within the national borders, but surprisingly, silver has been climbing the presumption ladders steadily one decimal point at a time.

      The speculation with market trends and subsequent industrial demand has contributed to the rising rates of silver. 0.999 fineness of silver had an appreciation of INR 175 from the earlier rate of INR 37850 per kilogramme. The current rate of silver is INR 38025 per kilogramme.

      16th March 2016

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