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Silver Price in Coimbatore
Coimbatore is one of the fastest growing tier 2 cities in India and is home to some of the biggest manufacturing industries in the country. It is the second largest city in Tamil Nadu and has over 1 million residents. Silver has for long been considered auspicious and there has been a constant demand for it among the residents of Coimbatore. Varying silver rates have not deterred residents from buying it.
Silver as an Investment in Coimbatore
Silver Coins – Silver coins can be purchased by weight, typically ranging from 1g to 10g or so. Silver coins offered by certain countries are considered as legal tender and can be used as currency. These coins are an excellent investment option as their value increases over time and they can offer the option of immediate liquidity when needed.
Silver Bars – Large investors and industrialists prefer to invest in silver bars. These bars can weigh around 1 kg and are an excellent source for those who wish to invest in large quantities of silver. These bars can be molded into jewelry or could be used for manufacturing purposes. Melting them provides instant money and makes them an attractive option.
Commodity Futures Exchange – Commodity future exchanges deal with large quantities of silver, generally weighing more than 1 kg a piece. Big buyers of silver can purchase it directly through commodity futures exchange.
Jewelry and Silverware – Jewelry has been the preferred choice of investment among most households in Coimbatore. While investing in jewelry is considered a safe option what one fails to realize is they get less value for their money. Wastage and making charges drastically reduce the value of the item in case of both jewelry and silverware.
Trend of Silver Rate in Coimbatore for August 2017 (rate per kg)
|Parameters||Silver price (per kg)|
|Silver Rate in 1st August||Rs.38,995 per kg|
|Silver Rate in 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|
Trend of Silver Rate in Coimbatore for July 2017 (rates per kg)
|Parameters||Silver price (24 karat)|
|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||Incline|
July ‘17- Week 1 (1 to 9)
- Silver was trading at Rs.38,640 per kg in Coimbatore when July began.
- Rates remained unchanged on the 2nd and the 3rd as demand was stable from coin makers and industrial units.
- The 4th witnessed a price drop and the white metal traded at Rs.37,705 per kg as a rallying dollar brought about a weak demand.
- After the US Independence Day frenzy simmered down, other key issues relating to Donald Trump administration came to the fore. This led to an increase in prices on the 5th to Rs.38,395 per kg.
- Silver prices in Coimbatore dropped on the 6th of the month to Rs.37,600 per kg as investors backed out of investments after a few days of continued buying.
- Rates went down on the 7th to hit Rs.37,115 per kg and remained unchanged on the 8th and the 9th of the month.
July ‘17- Week 2 (10 to 16)
- The 10th of July recorded the lowest silver prices in Coimbatore of Rs.35,565 per kg, as local demand plummeted significantly.
- Prices increased slightly on the 11th to reach Rs.36,035 per kg and went up again on the 12th to Rs.36,920 per kg.
- The 13th maintained the day-on-day price improvement seen for the previous few day and the metal was selling at Rs.37,115 per kg.
- Silver rates dipped to Rs.36,545 per kg on the 14th before bouncing back and trading at Rs.37,115 per kg on the 15th and the 16th of July.
July ‘17- Week 3 (17 to 23)
- Due to overnight trading, silver prices had slightly increased to Rs.37,180 per kg when the third week of July began on the 17th.
- Prices increased to Rs.38,395 per kg on the 18th before going down to Rs.37,600 per kg on the 19th, owing to high demand from domestic circles.
- The next few days saw silver rates fall locally as demand fell.
- When the third week of July ended, silver rates were recorded at Rs.37,965 per kg.
July ‘17- Week 4 (24 to 31)
- Silver rate in Coimbatore fluctuated during the final week of July due to unstable demand.
- On the 24th, the white metal was trading at Rs.38,275 per kg before falling to Rs.38,005 per kg on the 25th.
- Rates fell again on the 26th to Rs.37,965 per kg before surging to Rs.38,640 per kg on the 27th of the month.
- Prices fell and rose again before closing on a monthly high of Rs.38,815 per kg on the 31st of July.
- Silver rate trend in Coimbatore rose by 0.32% in Coimbatore, thanks to a sustained demand from local businesses.
Trend of Silver Rate in Coimbatore for June 2017 (rates per kg)
|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 from 6-7 June|
|Lowest Rate in June||Rs.38,455 per kg on 21 June|
|Overall Monthly Performance||Decline|
June ‘17- Week 1 (1st to 4th)
- Silver prices in the city of Coimbatore rose in the first week of June following a poor run in the previous month.
- The white metal traded at Rs.40,060 per kg on 1 June before prices fell marginally to Rs.39,780 per kg on 2 June due to a minor dip in demand.
- A drop in the U.S. dollar rate due to the continuing scandals plaguing the Trump administration led to an increase in demand for silver as prices rose to Rs.40,670 per kg on 3 & 4 June.
June ‘17- Week 2 (5th to 11th)
- Prices rose in the second week as weak markets as well as a low U.S. dollar rate led to higher demand for safe-haven assets like gold and silver.
- Silver was priced at Rs.40,725 per kg on 5 June before rising to Rs.40,890 per kg on 6 & 7 June as industrial demand rose exponentially.
- Local demand was also high as global cues led to an increase in demand for silver, as silver traded at Rs.40,815 per kg on 8 June.
- Prices fell sharply as the week drew to a close, with silver falling to Rs.40,060 per kg on 9 June due to a decline in demand from Asian markets as well as domestic industrial units.
- There was no change in the rate as the week ended on 11 June, with silver continuing to trade at Rs.40,060 per kg.
June ‘17- Week 3 (12th to 18th)
- There was a decline in the price of silver as demand was saturated, with industrial units reducing their orders.
- Silver was priced at Rs.39,780 per kg on 12 June before falling further to trade at Rs.39,100 per kg on 13 June.
- The markets staged a recovery during the week as positive U.S. jobs data in the previous week continued to bolster stock prices.
- Bullish markets led to an increase in the dollar rate, which led to silver prices slipping to Rs.38,995 per kg on 16 June.
- Demand continued to drop as silver traded at Rs.38,460 per kg on 17 & 18 June due to a decrease in local as well as overseas demand.
June ‘17- Week 4 (19th to 25th)
- The fourth week opened with silver prices falling to Rs.38,815 per kg on 19 June as the commodity markets showed sluggish movement of the white metal.
- Prices dropped to Rs.38,460 per kg on 20 June as European markets were on the rise, which led to reduced demand from investors as well as industry.
- A slight increase in Asian demand led to silver prices rising to Rs.38,925 per kg on 23 June, with the price staying steady till the end of the week.
June ‘17- Week 5 (26th to 30th)
- Silver prices were on the decline in the last week of the month, trading at Rs.38,815 per kg on 26 June as there was an increase in local demand.
- Coin makers also increased demand, which led to prices reaching Rs.39,110 per kg on 28 June.
- The price dipped unexpectedly on the last day of the month, resulting in silver trading at Rs.38,640 per kg on 30 June.
- Silver prices declined by 3.54% over the course of the month due to poor demand from coin makers as well as industry.
|May 1st Rate||Rs.40,040 per kg|
|May 31st Rate||Rs.40,190 per kg|
|Highest Rate in May||Rs.40,440 per kg on 30th of May|
|Lowest Rate in May||Rs.37,800 per kg on the 9th of May|
May ’17 – Week 1 (1st – 7th)
- The rate of silver on the first of May in Coimbatore was Rs.40,040 per kg but this rate was not sustained over the next few days.
- The demand for precious metals as a safe-haven reduced as a result of Asian equities, resulting in a fall in the price of silver. The value of the U.S. Dollar increased in comparison to the Japanese Yen.
- Silver was priced at Rs.38,925 per kg on the 3rd of May before falling to trade at Rs.38,230 per kg on the 4th.
- A combination of geopolitical factors along with reduction in the demand for this metal resulted in silver being priced at Rs.38,120 per kg on the 5th of the month and continued to reduce thereafter.
- On the 6th of May, silver was priced at a weekly low of Rs.38,005 per kg on account of reduced demand. The next day, silver continued to trade at the above rate in Coimbatore.
May ’17 – Week 2 (8th – 14th)
- On the first day of the second week of May, silver traded at Rs.37,865 per kg which was lower than the price noted during the previous week.
- There were a few geopolitical factors that affected the rate of silver such as Emmanuel Macron’s win in the French Presidential Elections resulting in the strengthening of the euro.
- On the 9th of May, silver was priced at Rs.37,800 per kg but increased marginally thereafter to trade at Rs.37,865 per kg on the 10th and 11th of May.
- There were a number of variations noted in the rate of silver during the second week of May due to varying demand.
- The price of silver increased marginally on the 12th of May to be priced at Rs.38,005 per kg on account of increased demand.
- Silver continued to trade steadily at this rate until the end of the week due to sustained demand from industrialists.
May ’17- Week 3 (15th – 21st)
- During the third week of May, a fall was noted in the value of the U.S. Dollar resulting in a rise in the rate of silver on certain days.
- Silver opened the third week of May by trading at Rs.38,230 per kg which was marginally higher than the rate noted during the previous week.
- On the 16th of May, rate of silver increased marginally to be priced at Rs.38,640 per kg as a result of higher demand from coin makers.
- A demand was noted for silver as the value of the U.S. Dollar reduced, resulting in a rise in the rate of silver.
- The U.S. manufacturing data was quite weak and this reduced the expectations of a high hike in the rate of interest by the U.S. Federal Reserve.
- Silver traded at Rs.38,995 per kg on the 17th of May but fell on the 18th to trade at Rs.39,355 per kg.
- Due to a fall in the demand for this precious metal from coin makers, silver was priced at Rs.39,115 per kg on the 19th. This rate of silver was noted until the 21st of the month.
May ’17 – Week 4 (22nd – 28th)
- On the 22nd of May, silver was priced at Rs.39,435 per kg which was higher than the rate of silver noted during the previous week.
- As the week progressed, a number of variations were noted in the price of silver in Coimbatore.
- Silver traded at Rs.39,680 per kg on the 24th of May before rising to Rs.39,950 per kg on the 25th.
- Due to a sudden surge in the demand for this metal from coin makers and industrialists, silver was priced at Rs.40,190 per kg on the 26th of the month.
- This rate of silver was noted until the end of the fourth week of May in Coimbatore.
May ’17 – Week 5 (29th – 31st)
- Easing stock markets coupled with geopolitical issues resulted in a slight increase in the price of silver.
- Silver was priced at Rs.40,285 per kg on the 29th of May before shooting up to a monthly high of Rs.40,440 per kg on the 30th of the month.
- Silver closed at Rs.40,190 per kg on the 31st of May recording an incline of 0.37% in the price of this metal.
|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|
April 2017 - Week 1 (1st - 9th):
- In Coimbatore, silver prices fluctuated considerably over the course of the first week as demand was steady.
- 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.
- Prices went down after that sudden increase on the 4th to go down to 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 April.
April 2017 - Week 3 (17th - 23rd):
- The third week of April 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 Coimbatore 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.
- Silver prices declined at a rate of 0.059% for the month of April in Coimbatore
|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|
February 2017 - Week 1 (1st to 5th):
- Silver prices saw a number of fluctuations during the first week of February owing to the performance of the metal industry.
- On 1st, silver was trading at Rs.42,755 per kg as demand from both domestic and international markets were robust.
- SIlver price went up to Rs.42,835 per kg on 2nd due as demand increased.
- However, demand couldn’t sustain which brought rates down to Rs.42,080 per gram on 3rd of February - making it the lowest rate for the metal for the entire month.
- When week 1 of February came to an end silver was trading at Rs.42,355 per kg.
February 2017 - Week 2 (6th to 12th):
- When week 2 began on 6th, silver was trading at Rs.42,505 per kg and went up to Rs.42,730 per kg as demand increased from both jewellers and industrialists.
- On 9th, silver prices went up marginally to Rs.42,775 per kg as demands sustained.
- The 10th saw prices fall to Rs.42,365 per kg on as demand went down in the domestic market after a brief surge over the previous two days.
- On 11th rates went up to Rs.42,570 per kg as the US dollar seemed to weaken slightly, leading to the sudden increase in prices.
- The second week of February ended with silver still trading at Rs.42,570 per kg.
February 2017- Week 3 (13th to 19th):
- The 13th saw silver prices go up significantly as US dollar crashed, which caused rates to go up to Rs.43,245 per kg.
- As the demand couldn’t be sustained rates went down to Rs.43,030 per kg on 14th February.
- On 15th, prices rose to Rs.43,110 per kg and then increased to Rs.43,480 per kg and remained the same on 16th as well.
- The third week of February ended with silver trading at Rs.43,400 per kg, owing to a sustained demand.
February 2017- Weeks 4 & 5 (20th to 28th):
- As demands varied from various sectors including jewellers, coin makers, and industrialists, silver prices fluctuated quite a bit over the last two weeks.
- On 20th, silver was trading at Rs.43,300 per kg and increased slightly to trade at Rs.43,085 on 21st February.
- As coin makers begun more silver, prices went up to Rs.43,910 - an increase of Rs.610 in within a couple of days.
- Silver prices remained at Rs.43,910 per kg on 25th February, as demand remained steady over the course of the days.
- Demand increase further as silver was seen trading at Rs.44,085 per kg on the last day of February.
- All in all, Coimbatore saw silver price trends increase by 3.11% 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|
January 2017 - Week 1 (1st to 7th):
- On the first day of the new year, silver opened at Rs.39,035 per kg which was also the lowest at which silver traded at for the month.
- However, due to a rise in demand in both domestic as well as international markets, the price of silver started to increase.
- Price of silver rose from Rs.39,035 per kg seen on the first day to Rs.39,110 per kg on the second of January.
- As buyers started purchasing more of this precious metal, the price of silver continued to increase.
- Silver rate rose to Rs.40,520 per kg on the 5th of the month which was the highest rate at which silver traded for the first week of January.
- On 6th, however, prices went down to Rs.40,440 per gram which was a decrease of Rs.80 per kg.
- When the first week of January ended, silver was trading at to Rs.40,390 per gram.
January 2017 - Week 2 (8th to 14th):
- There was an increase noted in the demand for silver in Asian markets which was reflected in the rate of silver in India during the second week of January.
- On the 8th of January, the price of silver was Rs.40,390 which was the same as the previous day.
- Due to a further increase in demand, the price of silver rose to Rs.40,520 per kg on the 9th of January and increased even further to trade at Rs.40,360 per kg on the 10th.
- On 11th, silver prices increased to Rs.41,360 due to sustained demand for this metal. However, the next day the demand for silver reduced and the silver was priced at Rs.41,230 per kg on 12th.
- Demand for this metal increased again due to the harvest festival of pongal in Coimbatore.
- The second week of January ended with silver trading at Rs.41,230 per gram.
January 2017 - Week 3 (15th to 21st):
- At the beginning of the third week of January, silver was priced at Rs.41,230 per gram - the same price as the last day of the previous week.
- As Donald Trump’s economic policy began to take shape, markets started fluctuating resulting in variations in the rate of silver.
- On 16th, silver was trading at Rs.41,360 per kg and went up to Rs.Rs.41,895 per kg on 18th.
- However, this demand for silver could not be sustained as the festive season ended the previous week.
- Rates went down slightly on 19th to reach Rs.41,675 per kg and continued at the same price on 20th as well.
- On the last day of the third week of January, the price of silver was Rs.41,930 per gram.
January 2017 - Weeks 4 & 5 (22nd to 31st):
- Continuing from the rate of the previous day, silver traded at Rs.41,930 per kg on the 22nd of January which was relatively high as a result of sustained demand.
- There were a number of variations noted in the price of silver during the last week of January.
- On the 24th, the price of silver was Rs.41,995 per kg.
- Rates went down to Rs.41,435 per kg on the 25th as markets fluctuated both in India and abroad.
- Rates increased to Rs.42,010 per kg on 30th due to an increase in industrial demand.
- Rates dropped to 27th to Rs.41,075 per kg and continued at the same rate till the closing hours of 29th.
- The month of January came to an end with silver prices trading at Rs.41,900 per kg.
- Coimbatore saw the rate of silver increase by 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|
December '16 - Week 1 (1st to 4th)
- Silver was priced at Rs.40,495 per kg on 1st December in Coimbatore as demand was high.
- The price rose to Rs.40,795 per kg on 2nd December as overseas demand also increased.
- A dip in market performance led investors to safe haven assets like bullion, which resulted in silver ending the week trading at Rs.41,070 per kg on 4th December.
December '16 - Week 2 (5th to 11th)
- In the second week, silver prices continued to rise as demand from the industrial sector coupled with festive buying bolstered demand.
- Silver traded at Rs.40,650 per kg on 5th December, with the price rising to Rs.41,495 per kg on 8th December.
- Demand began to drop as the week progressed as positive economic data led to stock markets recovering, which reduced demand for bullion.
- Silver prices recovered as the week ended, trading at Rs.41,345 per kg on 11th December and recording a minor increase in price.
December '16 - Week 3 (12th to 18th)
- Prices fluctuated in the third week as demand began to drop overseas, which impacted prices in the domestic market.
- Silver was priced at Rs.40,880 per kg on 12th December, with prices rising to Rs,41,340 per kg on 13th December.
- Demand dropped mid-week, resulting in prices falling to Rs.39,120 per kg on 16th December.
- Prices rose marginally as the week ended due to increased domestic industrial demand, with silver trading at Rs.39,305 per kg on 18th December.
December '16 – Week 4 (19th to 25th)
- Silver traded low in the fourth week as festive shopping propped up the currency markets, which reduced interest in bullion and led to a fall in silver prices.
- Silver was priced at Rs.39,265 per kg on 19th December, with the price falling during the week.
- Lower demand from Asian industry led to a drop in overall demand, which caused silver prices to fall to Rs.38,725 per kg on 23rd December.
- Stagnant demand led to the week ending with silver prices unchanged, as silver traded at its lowest rate for the month.
December '16 – Week 5 (26th to 31st)
- Declining demand led to silver prices falling, as markets were buoyed by holiday purchases.
- Silver traded at Rs.38,455 per kg on 26th December as domestic demand was poor.
- Fears of a slowdown in Asian markets led to global markets falling, which increased demand for silver, boosting prices to Rs.39,605 per kg on 29th December.
- Domestic retail demand appeared to be increasing as the currency shortage abated, which also boosted silver prices.
- A sudden dip in demand led to silver ending the year at Rs.39,035 per kg on 31st December, recording a loss of 3.60% in value.
|November 1st Rate||Rs.43,310 per kilogram|
|November 30th Rate||Rs.41,055 per kilogram|
|Highest Rate in November||Rs.45,105 per kilogram on 12th November|
|Lowest Rate in November||Rs.40,405 per kilogram on 25th November|
November '16 - Week 1 (1st to 6th)
- Silver traded at Rs.43,3100 per kilogram at the beginning of the month on 1st November.
- Prices climbed this entire week as news of demonetization slowly began to spread.
- Demand for silver was stable as the wedding season kicked off.
- Silver rates climbed to Rs.43,705 per kilogram on 3rd November and climbed some more towards the end of the week.
- The week ended with silver trading at Rs.44,180 per kilogram.
November '16 - Week 2 (7th to 13th)
- Silver traded at Rs.43,735 per kilogram during the opening hours of 7th November.
- Prices of the metal increased significantly this week as demonetization was introduced.
- The highest price recorded this month was Rs.45,105 per kilogram on 10th November as Rs.500 and Rs.2,000 notes were cancelled.
- After the initial surge in demand, prices decreased as government came up with stricter rules for buying jewellery.
- The week ended with silver trading at Rs.42,005 per kilogram.
November '16 - Week 3 (14th to 20th)
- Prices seemed to plummet this week as Donald Trump’s won the U.S. presidential, which affected the global market on a massive scale.
- In the Indian market, demonetisation scheme took its toll on silver rates as prices began to decrease.
- Silver traded at Rs.42,065 per kilogram at the start of the week and saw prices fall gradually over the week.
- By the end of the week, silver rates had touched Rs.40,735 per kilogram.
November '16 - Week 4 and 5 (21st to 30th)
- Silver traded at Rs.41,025 per kilogram on the 21st of November.
- Prices fluctuated quite a bit during these two weeks as the entire nation seemed to struggle due to a cash crunch.
- The lowest price recorded for this month was Rs.40,405 per kilogram on 24th November.
- Rates of silver increased slightly towards the end of the week as demand picked up.
- Silver traded at Rs.41,275 per kilogram at the end of the month on 30th November.
- All in all, the month of November saw silver prices decline by about -4.69%.
|1st Day||Rs.45,900 per kilogram|
|Last Day||Rs.42,875 per kilogram|
|Highest Price||Rs.45,900 per kilogram on 1st and 2nd October|
|Lowest Price||Rs.41,780 per kilogram on 15th and 16th October|
October 2016 – Week 1 and 2 (1st to 9th)
- Silver prices were high at the start of the week, trading at Rs.45,900 per kilogram.
- Through the week, demand fell as market sentiments turned bearish.
- A growing chorus of the interest rate hike by the U.S. Federal Reserve created a reluctant trend from investors.
- Silver prices plummeted to Rs.41,800 per kilogram by the end of the week.
- With Navaratri and Dhanteras approaching, retailers and jewellers pinned their hopes on the festive demand.
October 2016 – Week 3 (10th to 16th)
- From 10th to 12th October, silver traded at Rs.42,585 per kilogram.
- Demand picked up as bullish tendencies took over the global market.
- The Fed rate hike was uncertain as U.S. economic data was not strong enough
- However, reduced offtake by coin makers and industrialists led to a drop in prices towards the end of the week.
- Silver traded at Rs.41,780 per kilogram on 15th and 16th October.
October 2016 – Week 4 (17th to 23rd)
- Silver rates were low on 17th October at Rs.41,845 per kilogram as the U.S. Federal Reserve raised expectations of the interest rate hike.
- Subsequently, there was a rise in demand for silver this week as global markets stabilised.
- On the domestic front, the wedding season bloomed giving demand a boost.
- Silver prices climbed to Rs.42,130 per kilogram towards the end of the week.
October 2016 – Week 5 (24th to 31st)
- Silver traded at Rs.42,340 per kilogram on 24th October.
- Demand for silver was on the rise as coin makers and industrial units increased their offtake.
- The dollar weakened resulting in bullish sentiments in the global market.
- From 28th to 30th October, silver traded at a constant rate of Rs.42,270 per kilogram.
- The month ended with a declining trend of 6.59%.
|1st Day||Rs.45,010 per kilogram|
|Last Day||Rs.46,175 per kilogram|
|Highest Price||Rs.47,735 per kilogram on 08th September|
|Lowest Price||Rs.45,010 per kilogram on 01st of September|
September Week 1 – (01st to 04th)
- Silver traded at Rs.45,010 per kilogram on the first day of the month which is also the lowest silver rate recorded in Coimbatore for the month of September.
- As domestic demand increased, silver prices slightly increased on 02nd September and traded at Rs.45,435 per kilogram.
- Demand from local jewellers failed to cease and hence silver prices increased further and closed at Rs.46,760 per kilogram on the 04th of September.
September week 2- (05th to 11th)
- Silver prices remained constant on the first day of week 2 as it continued to trade at Rs.46,760 per kilogram.
- As investors shrugged the Fed rate hike speculation, silver rates increased and traded at Rs.46,665 per kilogram on 07th september before settling at Rs.47,735 per kilogram on 08th of September which is also the highest silver rate recorded for the month.
- Due to the poor performance of silver overseas, silver rates in Coimbatore dropped and traded at Rs.46,835 from 09th to 11th September.
September week 3 (12th to 18th)
- Silver rates did not display a upward or downward curve this week as it managed to avoid major fluctuations despite poor trend overseas.
- Silver opened at Rs.45,695 per kilogram on 12th September.
- The highest silver price was recorded on 14th of September when silver traded at Rs.45,940 per kilogram.
- As silver intake from domestic market dropped, silver prices fell and traded at Rs.45,370 per kilogram on 17th and 18th of September.
September week 4 (19th to 25th)
- Silver prices increased on the first day of the week and traded at Rs.46,100 per kilogram.
- Silver displayed an overall increasing trend this week as demand from jewellers and coin makers picked up.
- Silver prices rose and traded at Rs.47,400 per kilogram on 22nd of September before settling at Rs.47,560 per kilogram from 23rd to 25th of September.
September week 5 (26th to 30th)
- Silver prices dropped as U.S government hinted Fed rate hike.
- Silver traded at Rs.46,685 per kilogram on 26th of September.
- Silver prices fell and increased on every alternative day this week due to the poor silver trend in international market.
- Silver closed at Rs.46,175 per kilogram.
|Highest Price||Rs.49,660 per kilogram on 3rd August|
|Lowest Price||Rs.44,900 per kilogram on 29th August|
August '16 – Weeks 1 (1st to 7th)
- The glamorous metal started the month of August strong at Rs.49,200 per kilogram.
- As the dollar weakened, silver prices surged to Rs.49,660 per kilogram on 3rd August, the highest price recorded for the month.
- With a drop in the equity markets in the previous week, silver was able to gain strength.
- But prices soon started declining as positive U.S. economic data led to a resurgence in the stock market and overseas demand fell.
August '16 – Week 2 (8th to 14th)
- Domestic demand brought relief to the metal and silver prices started to climb this week.
- Silver traded at Rs.47,280 per kilogram on 8th August.
- The highest for the week was recorded on 10th August when silver traded at Rs.48,760.
- Prices dropped slightly but remained stable at Rs.47,750 per kilogram by the end of the week.
August '16 – Week 3 (15th to 21st)
- Silver traded at Rs.47,750 per kilogram on 15th August and climbed to Rs.48,130 on 16th, the highest for the week.
- Prices declined as there was lesser demand from the industrialists in the domestic market.
- Silver dropped to Rs.46,690 per kilogram by the end of the week.
August '16– Week 4 (22nd to 28th)
- A stronger U.S. economy gave the dollar a boost leading to silver rates falling through the week.
- Silver traded at Rs.45,800 per kilogram on 22nd August.
- Domestic demand kept prices stable towards the end of the week.
- Prices dropped to Rs.45,040 per kilogram by 25th August and remained constant till 28th August.
August '16 - Week 5 (29th to 31st)
- Silver rates dropped to Rs.44,900 on 29th August, the lowest price recorded for the month of August.
- Prices climbed slightly as domestic demand provided some support.
- Silver traded at Rs.45,320 per kilogram.
- In the domestic market, silver prices are expected to rise, however, with the growing possibility of a Fed rate hike, silver prices may drop again.
- The overall trend for this month was a decline of 7.88%.
|July 1st Rate||Rs.46,490 per 1 kg|
|July 31st Rate||Rs.48,970 per 1 kg|
|Highest Rate in July||Rs.49,745 per 1 kg on 11th of July|
|Lowest Rate in July||Rs.46,490 per 1 kg on July 1st|
July'16 - Week 1 and 2 (1st to 10th)
- Silver traded at Rs.46,650 per 1 kg on the 1st of July.
- Owing to heavy demand, silver climbed up to Rs.47,925 per kg on the 2nd of July.
- Silver continued to climb up and hit Rs.49,265 per kg on the 6th of July.
July'16 - Week 3 (11th to 17th)
- Silver opened the at Rs.49,200 per kg the 11th of July.
- The price of silver increased by Rs.215 to Rs.49,415 per kg on the 12th of July.
- Silver traded at Rs.49,130 per kg on the 13th of July.
- Silver witnessed a decline as prices dropped down to Rs.48.840 per kg on the 16th of July and remained the same on the 17th.
July '16 - Week 4 (18th to 24th)
- Silver traded at Rs.48,360 per kg on 18th of July.
- Prices came down to to Rs.47,105 per kg on the 21st of July.
- Silver price increased to Rs.47,420 per kg on the 22nd of July and remained constant till 24th of July.
July‘16 - Week 5 (25th to 31st)
- Silver opened the week at Rs.47,195 per kg on the 25th of July.
- The price of silver increased by Rs.415 and traded at Rs.47,610 per kg on the 26th of July.
- The price of silver dropped down and was at at Rs.47,370 per kg.
- Silver hit the highest for the week at Rs.49,070 per kg on the 28th of July.
- Silver closed the month at Rs.48,970 per kg on the 31st of July.
|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|
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 May|
|Lowest rate in May||Rs. 38,705 on 30th May|
May '16 - Weeks 1 and 2 (1st to 8th)
- The price of silver in Coimbatore steadily declined during the week due to demand slipping domestically as well as internationally.
- The price of silver was Rs. 42,590 per kg on the 1st of May but the price fell over the next few days, dropping to a weekly low of Rs. 41,575 on the 4th of May.
- The price rose marginally over the next few days as demand from industry as well as international markets picked up pace.
- Silver closed out the week at Rs. 41,875 per kg on the 8th of May after a slight recovery in its price towards the end of the week.
May '16 -Week 3 (9th to 15th)
- Silver rates fell in the third week of May on the back of a recovering Dollar and a resurgent Asian stock market.
- One kg of silver was trading at Rs. 41,635 on the 9th of May, a decrease of Rs. 240 from the last week.
- Prices fell further on the 10th of May, with silver retailing at Rs. 41,085 one of its sharpest falls in the month due to the Dollar getting stronger on news of a possible Fed rate hike.
- The price picked up from the 11th of May onwards, with silver retailing at Rs. 41,255 at the end of the week.
May '16 - Week 4 (16th to 22nd)
- Silver prices rallied for a while but lowered demand resulted in prices falling for the fourth straight week.
- Silver traded at Rs. 41,255 per kg on the 16th of May and increased slightly the next day.
- Prices dipped over the rest of the week, with prices falling by as much as Rs. 600 on the 18th of May.
- The price continued to plummet as the markets rallied towards the end of the week, with silver retailing at Rs. 40,135 per kg on the 22nd of May.
May '16 - Weeks 5 and 6 (23rd to 31st)
- The price of silver fell towards the end of the month as U.S. manufacturing data revealed positive growth, making a strong case for a U.SS. Fed rate hike.
- Silver retailed at Rs. 39,780 per kg on the 23rd of May, the first time silver dropped below the Rs. 40,000 per kg mark.
- Prices continued to fall throughout the week as global markets rallied on strong economic data.
- The Dollar made gains on other global currencies as an interest rate hike as early as June became a distinct possibility.
- Silver traded at Rs. 39, 010 per kg on the 31st of May.
|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|
Apr'16 - Weeks 1 & 2 (1st to 10th)
- Silver rates were on the decline during the first four days of trading after which they started to increase and remained consistent for the last four days of the ten-day period, but a decline was recorded overall.
- Prices were recorded at Rs.37,015 on the 1st of the month and Rs.36,620 on the tenth day of the month.
- Prices became stable towards the end of the week as international and domestic cues began firming.
Apr ‘16 - Week 3 (11th to 17th)
- Silver rates increased steadily during the third week of the month.
- Prices were recorded at Rs.37,180 on the first day of the week and Rs.39,110 by the end of the seven-day period.
- Prices rose by almost Rs.2000 over the third week of trading, as domestic and global cues strengthened while industrial demand also increased.
Apr ‘16 - Week 4 (18th to 24th)
- Silver rates increased marginally for the first few days and remained unchanged for the last four days of the week.
- Prices were recorded at Rs.38,860 on the first day of the week and Rs.41,155 on the last.
- Prices increased by almost Rs.2300 during the seven-day period, making it the best week for jewellers and traders in April.
Apr ‘16 - Week 5 (25th to 30th)
- Silver rates declined on the first day of the week but increased steadily until the end of the seven-day period.
- 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.
|1st March rate||Rs.36,640|
|31st March rate||Rs.36,715|
|Highest rate in March||Rs.38,455 on 18th|
|strong>Lowest rate in March||Rs.35,260 on 2nd|
Mar'16 - Week 1 (1st to 6th)
- Silver prices were stable during the week.
- Rates were Rs.36,640 on 1st and Rs.36,640 on 6th.
- The only change on rates was observed on 2nd when prices dropped to sub-36,000 levels before recovering on the next day.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Silver was down in the second week.
- Rates were Rs.37,915 on 7th and Rs.35,260 on 13th.
- There was an overall drop of Rs.2,655 during this week.
Mar'16 - Week 3 (14th to 20th)
- Silver was up by Rs.15 over the 3rd week.
- Prices were Rs.37,850 on 14th and Rs.37,865 on 20th.
- Silver touched its monthly high this week on 18th when prices touched Rs.38,455.
Mar'16 - Week 4 (21st to 27th)
- Prices were down in the 4th week.
- Rates were Rs.37,705 on 21st and Rs.36,685 on 27th.
- Silver lost Rs.1,020 over the course of the week.
Mar'16 - Week 5 (28th to 31st)
- Silver was slightly up in the last week.
- Prices were Rs.36,545 on 28th and Rs.36,715 on 31st.
|1st February rate||Rs.35,040|
|29th February rate||Rs.36,605|
|Highest rate in February||Rs.38,525 on 12th|
|Lowest rate in February||Rs.34,975 on 2nd|
Week 1 (1st to 7th)
- Silver rates were up at the start of the month.
- Prices were Rs.35,040 on 1st and Rs.36,690 on 7th.
- Silver was weak at the start of the month however it managed to recover the losses and post profits by the end of the first week.
Week 2 (8th to 14th)
- Silver prices improved some more in the second week.
- Rates were Rs.35,900 on 8th and Rs.37,800 on 14th.
- Silver had a mostly positive week as prices rallied by Rs.1,900 over the 7 days.
Week 3 (15th to 21th)
- Silver managed to post more profits in the third week.
- Prices were Rs.37,100 on 15th and Rs.37,600 on 21st.
- Rates were volatile over the week but ended higher by Rs.500 by the end.
Week 4 (22nd to 29th)
- Silver lost value for the first time this month on a weekly basis in the last days of February.
- Rates were Rs.37,400 on 22nd and Rs.36,400 on 29th.
- Silver prices were once again volatile in the last week, ultimately closing Rs.1,000 lower.
4 th January rate
31 st January rate
Highest rate in January
Rs.35,485 on 28th
Lowest rate in January
Rs.33,360 on 13th
Jan '16 - Week 1 (4 th to 10 th )
2016 started out on a positive note for silver prices in Coimbatore.
Prices were Rs.33,515 on 4th and Rs.33,865 on 10th.
Silver gained value till 6th to rise to RS.33,760 before falling marginally to RS.33,755 on 7th.
Prices rose to Rs.33,865 on 8th and remained stable till 10th.
Jan '16 - Week 2 (11 th to 17 th )
Silver rates were up again in the 2nd week.
It was priced at Rs.33,710 on 11th and Rs.34,335 on 17th.
Silver lost value at the start of the week to drop to Rs.33,535 by 13th before rallying to Rs.34,335 on 14th and staying there for the remaining days of the week.
Jan '16 - Week 3 (18 th to 24 th )
Building up on the previous gains, silver posted more profits in the 3rd week on increased industrial offtake and internal demand for coins.
Prices were Rs.34,005 on 18th and Rs.34,425 on 24th.
Silver rose to Rs.34,650 by 20th before settling at a lower Rs.34,425 by 24th.
Jan '16 - Week 4 (25 th to 31 st )
Silver completed a whole month of gains as 4th week prices were also up.
Prices were Rs.34,505 on 25th and Rs.34,930 on 31st.
Silver rates appreciated to a monthly high of Rs.35,485 on 28th before sliding to Rs.34,930 by 31st.
|Highest rate in December||Rs.35,095 on 7th|
|Lowest rate in December||Rs.33,055 on 18th|
- Silver prices appreciated in the 1st week of December in the city.
- Rates were Rs.34,030 on 1st and Rs.35,095 on 7th.
- Silver dropped to sub-34,000 rate on 3rd when it was traded at Rs.33,580, before rallying consistently over the rest of the week to touch a high of Rs.35,095 on 7th.
- Silver lost value in the 2nd week of the month.
- It was priced at Rs.34,410 on 8th and Rs.33,485 on 14th.
- There was no positive session for silver in the 2nd week as prices gradually fell by almost Rs.1,000 through the week to end at Rs.33,485.
- Silver Rates appreciated in the 3rd week.
- Rates were Rs.33,200 on 15th and Rs.34,035 on 21st.
- Silver prices rose to Rs.33,905 by 17th before dropping substantially to Rs.33,055 o 18th.
- Prices appreciated on 19th, 20th and 21st by a cumulative amount of Rs.980 to end the week higher at Rs.34,035.
- Silver Rates were stable overall in the last days of December.
- Prices were Rs.34,230 on 22nd and Rs.33,150 on 31st.
- Silver rates remained steady at slightly over Rs.34,000 till 27th but fell below 34,000 on 28th to Rs.33,670.
- Silver continued its downward trend for the rest of the month and fell to Rs.33,150 by 31st December.
|1st November rate||Rs.36,675|
|30th November rate||Rs.34,005|
|Highest rate in November||Rs.37,800 on 10th|
|Lowest rate in November||Rs.33,775 on 23rd|
- Silver Rates depreciated in the 1st week of November in Coimbatore.
- Prices were Rs.36,675 on 1st and Rs.35,220 on 7th.
- Silver rates fell on 3rd, 4th and 5th to rest at Rs.35,585 on 5th.
- Prices rose slightly to Rs.35,775 on 6th before dropping to Rs.35,200 on 7th.
- Silver rates fell again in the 2nd week of the month.
- It was priced at Rs.35,220 on 8th and Rs.34,090 on 14th.
- Silver rose sharply to Rs.36,225 on 9th and again to Rs.37,800 on 10th to clock in a gain of Rs.2,580 over 2 days.
- Prices declined significantly to Rs.34,665 on 11th, and nominally to Rs.34,335 on 12th and Rs.34,090 on 13th, where it stayed till the end of the week.
- Silver Rates were stable on the whole in the 3rd week.
- Rates were Rs.34,090 on 15th and Rs.34,005 on 21st.
- Silver hovered in the range of Rs.34,005 to Rs.34,295 throughout the week.
- Silver Rates were stable overall in the last days of November.
- Prices were Rs.34,005 on 22nd and again on 30th.
- Silver dropped to Rs.33,775 on 23rd but covered the losses on the next day to rise to Rs.34,030.
- Silver rose to Rs.34,345 by 26th before settling at Rs.34,090 for 27th, 28th and 29th.
- There was a marginal drop in rates on the last day when silver dropped to Rs.34,005.
Silver Price Trend in Coimbatore
The current rate of silver in Coimbatore is Rs 37,115 per kg (as of June 2015). The rates have hovered around Rs 38,000 over the last year, reaching a maximum of Rs 43,000 in April 2014 and a minimum of around Rs 33,000 in December 2014. Prices have reached a stable point and they are expected to increase in the future, making this the right time to invest in silver.
Where to Buy Silver in Coimbatore
Silver can be purchased from all major jewelers in Coimbatore. Some of the major jewelers that offer special rates on silver are Malabar Gold, Kalyan Jewellers, Josco Jewellers, Karpagam Jewellers and Joyalukkas. Silver can also be purchased from certain bank branches, though the silver purchased here is a bit more expensive compared to jewelers. There are plenty of small jewelers and pawn shops across the city which sell silver, catering to any need an individual might have.
Also Check Silver Price in NearBy Cities of Coimbatore
|Silver Rate in Chennai||Silver Rate in Bangalore||Silver Rate in Madurai|
|Silver Rate in Trichy||Silver Rate in Mysore||Silver Rate in Pondicherry|
|Also Know: Gold Rate in Coimbatore|
Read more on Silver
- About Silver Mining
- Amazing Facts About Silver
- Global Demand for Silver
- How to Find Certified/Authentic Silver
- Need for Silver as an Industrial Commodity