Silver Rate in Coimbatore

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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 December 2018 (rates per gram)

Silver Rate Trend in Coimbatore in December 2018:

• On 1 December 2018, the price of silver was Rs.38,500 per kg and increased throughout the month. By the middle of the month, the price of silver increased to Rs.40,700 per kg.
• The rise in global demand of the metal led to the increase in price of silver in Coimbatore.
• Due to the US-China trade truce, the markets crashed due to which investments in the bullion increased.
• The metal closed the month at a price of Rs.41,500 per kg resulting in an incline of 7.79%.

Trend of Silver Rate in Coimbatore for November 2018 (rates per kg)

Silver Rate Trend in Coimbatore for November 2018:

• When trading commenced for the month in Coimbatore, silver rates were recorded holding at Rs.40,900 per kg on the 1st with steady demand from domestic industries and coin manufacturers. Thanks to an increase in local demand ahead of the festive season, prices surged to a monthly high of Rs.41,500 per kg on the 2nd and continued holding at the same rate for the next few days.
• However, with the US dollar dominating against a basket of other major currencies at the international level, demand for the metal dropped with investors and market participants gravitating towards the equity markets and silver was priced at Rs.40,000 per kg on the 12th.
• Weak global cues coupled with capped demand led to silver rates dropping further during the month and the white metal was recorded hovering around the Rs.40,000 per kg mark over the third week.
• With global as well as domestic demand on the decline amid the rallying dollar and rising stocks, silver rate in Coimbatore finished at a monthly low of Rs.38,800 per kg on the 30th, registering 5.13% decline in prices during the month.

Trend of Silver Rate in Coimbatore for October 2018 (rates per gram)

October 2018 - Week 1 (1 - 7):

• Coimbatore saw silver open at Rs.41,100 per when October opened for trading. Demand was on the higher side this week which was reflected by the rising prices.
• On the 1st and 2nd, silver was trading at Rs.41,100 per kg - the lowest price for the entire month.
• The 3rd saw gold trade at Rs.42,000 per kg - the month’s highest as demand was on a high.
• When the week came to an end, the white metal was seen trading at Rs.41,900 per kg, which was a massive gain for a 7-day period.

October 2018 - Week 2 (8 - 14):

• The second week of October began in Coimbatore with silver trading at Rs.41,500 per kg. Demand was a little topsy turvy this week.
• During the midweek, demand took a slight hit. This led to silver trading at Rs.41,200 per kg before picking up over the next few days.
• The week ended back where it started - with silver prices holding at Rs.41,500 per kg as demand went back up and so did the prices.

October 2018 - Week 3 (15 - 21):

• The third week of October began with silver opening at Rs.41,900 per kg. Demand, however, fell from the second day of this week and by the 17th rates had dropped to Rs.41,400 per kg.
• On the 19th prices went up to Rs.41,700 per kg as the stock markets dropped and the US dollar continued to drop slightly.
• Silver traded at Rs.41,500 per kg on the 20th of October before dropping slightly to Rs.41,400 per kg on the 21st as there was a slowdown in demand.
• Prices saw a Rs.500 drop from the beginning of the week as demand slowed down.

October 2018 - Week 4 (22 - 28):

• The fourth week of October in Coimbatore saw some changes in silver prices as demand was rather uneven from the local market.
• When the week began, silver was priced at Rs.41,500 per kg, which then went up to Rs.41,900 per kg on the 24th, owing to a strong demand.
• The fall of the rupee also contributed to the rising prices, but as the currency recovered slightly, prices fell. This led to silver trading at Rs.41,500 per kg on the 26th before closing out for the week at Rs.41,700 per kg on the 28th.

October 2018 - Week 5 (29 - 31):

• The final week of October saw silver trade at Rs.41,600 per kg - a Rs.100 drop from the previous day’s closing rate.
• On the 30th, the penultimate day of the month, silver rates dropped to Rs.41,200 per kg - as demand slowed down considerably.
• When the week and month ended, silver prices were still holding at Rs.41,200 per kg.
• All in all, a 0.24% change in price trends were recorded over the 31-day trading period of October 2018.

Trend of Silver Rate in Coimbatore for September 2018 (rates per gram)

September 2018- Week 1 (1-8)

• Silver opened at Rs.40,000 per kg on 1st September in Coimbatore.
• From 5th to 7th of the month, silver rates in the city fell and recorded a monthly low of Rs.39,500 per kg as the demand for the metal fell.
• By the end of the week, silver rates in Coimbatore recovered and closed at Rs.39,700 per kg as the ongoing trade war negatively affected the stock market and investors turned towards safe-haven assets.

September 2018- Week 2 (9-15)

• Silver opened at Rs.39,700 per kg when trading for the metal commenced on the first day of the week and inclined to Rs.39,900 per kg on 11 and remained unaffected till 13 September.
• Meanwhile, the value of the dollar weakened as the US inflation data was not as bad as expected and it weakened the policy tightening case proposed by the US Federal Reserve.
• The price of the metal dipped in the last few days of the week due to muted demand and traded at Rs.39,800 per kg on 14 and closed at Rs.39,500 per kg.

September 2018- Week 3 (16-22)

• Silver opened at Rs.39,500 per kg and the value of the US dollar weakened further due to the ongoing trade war tension and the price of silver inclined in the following days.
• Due to the weak US dollar, silver rates surged to Rs.39,700 per kg, Rs.39,800 per kg, and Rs.40,000 per kg on 17, 18, and 19 September respectively.
• As the demand for the metal picked up, silver rates further inclined and closed at Rs.40,100 per kg on 20 and 21 September.

September 2018- Week 4 (23-30)

• Silver was traded at Rs.40,300 per kg on 23 September.
• As the demand for the metal fell, silver prices fell to Rs.40,000 per kg on 24 September but silver rates quickly inclined to Rs.40,200 per kg on 25 and further inclined to Rs.40,800 per kg on 26 September.
• On 29 and 30 September, silver prices surged and hit a monthly high of Rs.41,200 per kg and recorded an overall incline of 3%.

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

August 2018 - Week 1 (1 - 05):

• In Coimbatore, silver was sold at Rs.41,400 per kg on 1 August 2018. This is also the highest recorded silver rate in Coimbatore for the month of August.
• However, the price of the metal fell as the industrial demand for silver fell on 2 August and the metal traded at Rs.41,100 per kg.
• On 4 August, the price of silver surged in Coimbatore as the retail demand for the metal picked up. On this day, silver increased by Rs.200 per kg.
• On 5 August, silver closed at Rs.41,300 per kg.

August 2018 - Week 2 (6 - 12):

• In the second week of August, silver prices in Coimbatore fell continuously.
• However, on the first day of the week, as the demand from the industrial units was high, silver opened at Rs.41,300 per kg on 6 August.
• On the other hand, the value of the US dollar increased compared to other currencies as the US unemployment data revealed positive changes for the economy.
• As the value of the US dollar increased, the price of silver fell to Rs.41,200 per kg.
• A small hike in silver prices was noted on 09 August when the metal traded at Rs.41,400 per kg. On this day, silver recorded the highest silver rate in Coimbatore for the month of August yet again.
• As the demand for the metal fell sharply, silver prices quickly fell on 10 August and traded at Rs.41,100 per kg. Throughout the week, demand for the metal played a huge role in determining silver prices in Coimbatore.
• A small hike in silver prices was noted on the last two days of the week when the metal traded at Rs.41,200 per kg.

August 2018 - Week 3 (13 - 19):

• On 13 August, silver continued to trade at Rs.41,200 per kg.
• On 14 August, as the local demand for the metal fell, there was a sharp fall in silver prices in Coimbatore. On this day, silver traded at Rs.40,900 per kg.
• As the value of the dollar further increased, silver prices fell further in the city.
• Though the value of the US dollar increased, the demand for the metal was stable. Due to which, silver prices rose to Rs.41,100 per kg on 15 August.
• However, due to weak overseas trend, the price of the metal fell to Rs.39,900 per kg on 16 August.
• Silver traded at Rs.40,000 per kg from 17 to 19 August.

August 2018 - Week 4 (20 - 26):

• Silver started at Rs.40,000 per kg on 20 August.
• On 22 August, the price of silver fell by Rs.100 per kg and traded at Rs.40,100 per kg.
• However, as the value of the US dollar increased further, silver prices in Coimbatore fell drastically and traded at Rs.39,900 on 23 August.
• As the local demand for the metal also fell, the lowest silver rate for the month of August in Coimbatore was recorded on 24 August when the metal traded at Rs.39,800 per kg.
• Silver closed at Rs.40,200 per kg on 26 August.

August 2018 - Week 5 (27 - 31):

• As the industrial demand for the metal was stable, silver continued to trade at Rs.40,200 per kg on 27 August.
• Silver was sold at Rs.40,400 per kg on 28 August.
• As the value of the US dollar started recovering, silver prices fell marginally during the last two days of the month and closed at Rs.40,300 per kg.

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

July 2018- Week 1 (1-10)

• Trading for silver at the start of July 2018 commenced at Rs.42,800 per kg.
• The price of the metal then declined moderately on 3 July. This dip can be linked to the drop of demand in industrial units. The price of silver at this time dipped to Rs.42,400 per kg. The value of the dollar with regard to other currencies was also recorded to be on the decline during this time.
• The price of the metal then stood still for the coming few days. The silver rate in Coimbatore then stood at Rs.42,800. The variation in the price of the metal can be associated with the local industrial offtake.
• At the end of the first week of July on 9 - 10 July, the silver rate in Coimbatore rose to Rs.42,900 per kg. Positive market trends clubbed with the variation in the value of the dollar with respect to other currencies can be linked to the rise in silver values.

July 2018- Week 2 (11-17)

• During the start of week 2, demand for the metal dropped which caused the silver rate in Coimbatore to decline as well. The silver price in Coimbatore for the second week of July declined when compared to the latter part of week 1. Silver, during this time dropped to Rs.42,600 per kg.
• Industrial demand for the metal dipped further in the following days which in turn decreased the silver price in Coimbatore. The price from 12 - 14 July stood at roughly Rs.42,200 per kg.
• Due to stable industrial demand, silver prices continued to be relatively stable. Silver rate in Coimbatore on 16 July stood at Rs.42,300 per kg.
• Due to the decline in dollar value over other currencies, the price of silver in Coimbatore then increased towards the end of the week and stood at Rs.42,100 per kg on 17 July.

July 2018- Week 3 (18 - 24)

• The price of silver in the third week of July declined when compared to the previous week of July. The price of the metal on 18 July stood at Rs.41,700 per kg. This can be associated with decreased industrial demand for silver during the same time.
• The value of the dollar in comparison with other currencies then rose on 20 July causing the silver price in Coimbatore to drop further. The metal was valued at Rs.41,300 per kg on 20 July.
• Demand for the metal increased in the following few days which led to the increment in the silver rate. The price of silver in Coimbatore on 21 - 22 July stood at Rs.41,700 per kg.
• The price of the metal declined towards the end of the week in Coimbatore as it stood at Rs.41,400 per kg on 24 July.

July 2018- Week 4 (25 - 31)

• Steady industrial demand for the metal caused the price of silver to drop to Rs.41,500 per kg on 25 July.
• Due to the decline of dollar value, silver prices spiked on 26 July to Rs.41,800 per kg. However, demand for the metal dropped which naturally caused the decline in silver prices over the next few days.
• As on 28 - 29 July, the price of silver stood at Rs.41,200 per kg.
• By the end of the month, the price of silver increased as dollar rates dropped slightly. The metal stood at Rs.41,400 on 30 - 31 July.

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

June 2018 - Week 1 (1 - 10):

• The month began in Coimbatore with silver rates holding at Rs.42,800 per kg on the 1st with domestic demand capped by the rising dollar and equities.
• The 2nd witnessed silver prices plummeting to 42,600 per kg - the lowest monthly figure - as investor demand declined amid the well-performing US dollar and equities market.
• Subdued domestic demand compounded with weak global cues led to silver trading at Rs.42,600 per kg until the 5th.
• The 6th, however, saw rates rebounding to Rs.43,900 per kg - an increase of Rs.1,300 per kg - on account of market speculations ahead of the G7 summit.
• A decline in domestic industrial offtake over the next couple of days led to silver being priced at Rs.43,800 per kg and Rs.43,600 per kg on the 7th and the 8th respectively.
• Rates rebounded to Rs.43,700 per kg on the 9th as the US dollar index weakened after the US president blamed other heads of the G7 participating nations for wrong trade practices.
• Trading closed for the week with the industrial metal priced at Rs.43,700 per kg on the 10th with steady local demand amid the firm trend overseas.

June 2018 - Week 2 (11 - 17):

• The second week began with prices surging by Rs.200 at Rs.43,900 per kg on the 11th with traders and investors banking on the bullion market amid the positive market trends overseas.
• Rates rose to Rs.44,000 per kg the next day but dropped to Rs.43,900 per kg on the 13th as the US dollar recovered slightly following the US-North Korean summit.
• However, the greenback lost significant ground over the next two days as the US dollar index weakened after the US Federal Reserve announced its decision to leave its interest rates unaltered in the monetary policy meeting.
• Strong investor demand coupled with favourable market cues led to silver prices in Coimbatore rising to Rs.44,300 per kg on the 14th before surging further to a monthly high of Rs.45,000 per kg on the 15th amid the positive trend overseas.
• Trading concluded for the week with the white metal trading at Rs.44,300 per kg on the 17th with subdued but steady demand from local industries, jewellers and retailers.

June 2018 - Week 3 (18 - 24):

• The week opened with silver prices holding at Rs.43,400 per kg on the 18th after a strong recovery by the US greenback amid the well-performing equities led to rates dropping by Rs.900 from the previous session’s figure.
• Rates rose marginally to Rs.43,500 per kg on the 19th before declining to Rs.43,100 per kg on the 20th with investor demand suppressed by poor trend overseas.
• The 21st saw silver prices dropping further to Rs.42,900 per kg due to poor demand from industrial units and coin makers amid the weak global cues.
• The week ended with silver rates holding at Rs.42,900 per kg on the 24th with subdued local demand amid the strong US dollar and well-performing stock markets.

June 2018 - Week 5 (25 - 30):

• The last week commenced with silver trading at Rs.43,200 per kg on the 25th following an increase in domestic investor demand brought about by positive overseas trends.
• However, with the US dollar index gaining against a basket of other major emerging currencies, the greenback strengthened. This led to a decline in domestic demand over the next couple of days.
• On the 28th, the industrial metal was recorded trading at Rs.43,000 per kg with poor local demand amid the weak market trends overseas.
• Rates dropped further to Rs.42,800 per kg the following day with investor demand capped by the strong US dollar and equities.
• Trading closed for the month with the silver rates in Coimbatore holding at Rs.42,800 per kg on the 30th with subdued but steady demand local coin manufacturers and industrial units amid weak international trends.

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

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

• The month began with silver rates in Coimbatore holding at Rs.42,000 per kg on the 1st with consistent investor demand amid positive global cues.
• The 3rd saw price in Coimbatore surging to Rs.42,600 per kg as domestic bullion markets capitalised on the weakened US greenback and stock markets.
• Demand remained strong during the week the investors banking on safe-haven assets such as silver and gold amid the US-Sino trade war concerns.
• Trading concluded for the week with prices holding at Rs.42,600 per kg on the 6th with steady domestic demand from industries, retailers and jewellers.

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

• The week saw silver rate in Coimbatore fluctuating on account of the unevenly performing US dollar and underperforming equity markets.
• Silver was recorded trading at Rs.43,200 per kg on the 7th following an increase in industrial orders from the Asian continent led to rates surging from the previous session.
• However, with the dollar index gaining against other apex currencies, the US dollar surged. This led to silver rates plunging to Rs.43,000 per kg on the 8th.
• Safe haven demand picked up over the next couple of days with the US-North Korean relations worsening overseas. This led to prices recovering to Rs.43,100 per kg on the 9th.
• Strong global demand coupled with positive market trends led to silver price in Coimbatore rising further to Rs.43,300 per kg on the 10th.
• An increase in retail demand brought about by the positive cues overseas resulted in prices surging further to Rs.43,500 per kg on the 11th.
• The week ended with the industrial metal closing at Rs.43,500 per kg on the 13th with steady demand from local retailers, jewellers and industries.

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

• The third week began with silver price in Coimbatore holding at Rs.43,600 per kg on the 14th with domestic markets capitalising on the cancelled US-North Korean summit.
• However, the next couple of days saw silver rate in Coimbatore dropping with the US dollar regaining lost ground against other apex currencies.
• Poor trends overseas coupled with weak domestic demand led to prices dropping to Rs.43,300 per kg on the 15th.
• Rates plunged further to Rs.43,000 per kg on the 16th before rising to Rs.43,200 per kg for a brief period on the 17th.
• With industrial demand suppressed by the well-performing dollar, silver prices plummeted to Rs.43,700 per kg on the 18th.
• Trading concluded for the week with the white metal trading firm at Rs.43,100 per kg on the 20th following a slight incline in industrial offtake for the metal.

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

• Trading opened in Coimbatore with silver priced at Rs.43,100 per kg on the 21st with subdued but steady demand from industrial units and coin makers.
• However, with tensions rising in Iran and the European continent, demand for safe haven assets surged during the week.
• Positive trends overseas compounded with strong investor demand over the next couple of day led to silver rates rising to Rs.43,500 per kg on the 23rd.
• Prices dropped to Rs.43,300 per kg the next day as demand for the metal dropped marginally amid the rising US dollar.
• With industrial units and coin manufacturers ramping up purchases to stock their inventories, silver rates surged towards the end of the week.
• The week came to an end with the white metal prices holding steady at Rs.43,600 per kg on the 27th amid the firm trend overseas.

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

• The final week began with silver price in Coimbatore dropping by Rs.600 from the previous session at Rs.43,000 per kg on the 28th with the US dollar capitalising on the renewed market sentiments on the US-North Korean summit.
• Though prices recovered to Rs.43,100 per kg on the 29th, silver rates dropped to Rs.42,900 per kg on the 30th as the US dollar index gained over a basket of other apex currencies, making purchases expensive for foreign investors.
• Trading concluded for the month with the industrial metal prices closing at Rs.43,100 per kg on the last day.
• Silver rate in Coimbatore rose by 2.31% due to the strong global trends that pushed demand higher during the course of the month.

Trend of Silver Rate in Coimbatore for April 2018 (rates per kg)

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

• In Coimbatore, silver was priced at Rs.41,400 per kg when trading began for the month of April.
• Due to an increase in demand, silver rate in Coimbatore went up to Rs.41,600 per kg on the 3rd of the month. This rise was also made possible by a weak US dollar, which tumbled after markets weakened.
• However, the markets rallied on the next day, which caused silver price in Coimbatore to drop to Rs.41,000 per kg on the 5th.
• The week drew to a close with silver trading at Rs.41,200 per kg - a slight increase compared to the previous day.

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

• When the second week began on the 8th, silver was priced at Rs.41,200 per kg as demand from local industries remained steady.
• Silver rate in Coimbatore increased on the next day to trade at Rs.41,700 per kg as demand rocketed after markets crashed significantly.
• This happened as news about a potential chemical attack surfaced and demand rose amid a falling US dollar.
• Demand was on the rise in the Asian market as well, and rates went up to Rs.42,000 per kg on the 12th, as a result.
• After markets recovered, so did the dollar, leading to a slowdown in demand. The metal traded at Rs.41,900 per kg on the final day of this week.

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

• As tensions concerning Syria rose, so did the US involvement in the conflict, which caused markets to remain volatile for much of this week.
• Silver rate in Coimbatore opened at Rs.42,100 per kg when the third week of April opened for trading in Coimbatore.
• Local demand also saw a rise due to the situation, and silver price in Coimbatore went up to Rs.42,500 per kg on the 18th of April.
• The Syria conflict added to the ongoing trade stand-off between the US and China which pushed precious metal demand around the world.
• In the domestic market, prices went up to Rs.43,700 per kg on the 19th of April before stabilising over the next few days.
• On the 20th, silver traded at Rs.43,800 per kg - the month’s highest rate before seeing a slight drop the next day.
• The week came to an end with silver prices in Coimbatore holding at Rs.43,800 per kg.

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

• The final week of April saw silver price in Coimbatore decline consistently as markets recovered and so did the currencies of all the major countries.
• When trading commenced for the fourth week of April, silver was priced at Rs.43,700 per kg, which seemed to decline consistently over the next few days.
• This dropped to Rs.43,000 on the 23rd as the US dollar bounced back and precious metal demand plummeted.
• Silver traded at Rs.42,800 per kg over the 27th and 28th as demand continued to drop before holding steady.
• April’s trading came to an end with the white metal trading at Rs.42,300 per kg - a massive drop from prices from the beginning of the week.
• An incline of 2.17% was recorded with regards to silver trading in Coimbatore, thanks to massive shifts in the global economy.

Trend of Silver Rate in Coimbatore for March 2018 (rates per kg)

March 2018- Week 1 (1 - 4):

• The month began in Coimbatore with silver rates holding at Rs.41,100 per kg on the 1st with steady offtake from industries and coin makers.
• The week saw silver prices gradually increasing with firm market trends pushing demand higher for the metal.
• The 2nd saw rates rising to Rs.41,400 per kg as the dollar dropped against a basket of other emerging currencies in the global market.
• The week came to an end with the precious metal trading at Rs.41,600 per kg on the 4th following an increase in industrial orders amid a positive trend overseas.

March 2018- Week 2 (5 - 11):

• The second week opened with the white metal priced at Rs.41,700 per kg on the 5th with demand on the rise amid positive market cues.
• The 6th, however, saw silver rates dropping to Rs.41,400 per kg before rebounding to Rs.41,900 per kg the next day due to an increase in investor demand for the metal.
• However, an unexpected decline in demand despite firm market trends led to silver being priced at Rs.41,300 per kg on the 9th.
• With the dollar losing amid rising geopolitical concerns in the US, equities markets tumbled and investors gravitated towards safe-haven assets such as silver and gold.
• Trading concluded with the industrial metal prices holding steady at Rs.41,600 per kg on the 11th owing to steady demand at the domestic level.

March 2018- Week 3 (12 - 18):

• Poor industrial demand coupled with weak global cues led to silver rates in Coimbatore declining during the week.
• The week opened with the white metal trading at Rs.41,600 per kg on the 12th amid firm global cues and steady demand from local industrial units and coin makers.
• Prices dropped to Rs.41,400 per kg on the 13th before rebounding to Rs.41,700 per kg on the 14th as demand for the metal surged amid market uncertainties following the abrupt dismissal of the US Secretary of State by the White House.
• However, an increase in returns on stocks over the next couple of days led to the US dollar strengthening and silver was priced at Rs.41,300 per kg on the 16th.
• The week came to an end with silver rates holding at Rs.41,100 per kg on the 18th with poor domestic demand brought about by weak market trends overseas.

March 2018- Week 4 (19 - 25):

• Trading opened for the week with silver trading at Rs.41,000 per kg on the 19th due to a drop in industrial demand globally. This was also the lowest recorded monthly figure in Coimbatore.
• With the US dollar losing against a basket of currencies amid losing equities, demand for the metal improved. This led to silver rates rising to Rs.41,200 per kg on the 20th.
• However, demand was held in check by the recovering US dollar and silver prices dropped again to Rs.41,000 per kg on the 21st.
• The 22nd saw rates rising to Rs.41,500 per kg with investors banking on the bullion amid rising geopolitical tensions in the United States.
• With investors and traders ramping up purchases amid the firm overseas trend, silver rates remained untouched at Rs.41,600 per kg for the remainder of the week.

March 2018- Week 5 (26 - 31):

• The final week began with silver prices in Coimbatore holding steady at Rs.41,600 per kg on the 26th with steady demand from local industrial units and coin manufacturers.
• The 27th saw prices rising to Rs.41,800 per kg after the dollar weakened with markets speculating over a possible trade war between the US and China following the newly imposed US import tariffs.
• However, silver demand declined over the next couple of days with the strong dollar index making silver imports expensive for foreign investors.
• On the 29th, the industrial metal was recorded trading at Rs.41,400 per kg amid the poor trend overseas.
• The month concluded with silver rates holding at Rs.41,400 per kg on the 31st with subdued but steady demand from coin makers and industries.
• Silver trade at Coimbatore recorded an incline of 0.72% in prices on account of strong geopolitical concerns that pushed demand higher for the metal during the month.

Trend of Silver Rate in Coimbatore for February 2018 (rates per kg)

February 2018 - Week 1 (1st - 4th):

• The month began in Coimbatore with the industrial metal trading at Rs.42,600 per kg - the highest recorded monthly figure - on the 1st amid the weakened US dollar and poorly performing equity markets.
• Thanks to steady domestic demand from industrial units and coin manufacturers amid the strong trends overseas, silver price in Coimbatore remained unchanged at Rs.42,600 per kg on the 2nd.
• With the US dollar recovering from previous days’ losses following the release of the highly anticipated US employment data, silver rate in Coimbatore plunged to Rs.41,700 per kg on the 3rd.
• The week came to an end with silver prices holding steady at Rs.41,700 per kg on the 4th owing to a subdued but steady demand amid the firm overseas trends.

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

• The second week began with silver trading relatively lower at Rs.41,500 per kg on the 5th amid the strengthening US dollar and equities market.
• The dollar, however, lost against a basket of other emerging currencies and led to silver price in Coimbatore rising to Rs.41,900 per kg on the 6th.
• Rates dropped to Rs.41,500 per kg on the 7th before plunging further to Rs.40,800 per kg on the 8th after the US dollar and equities regained lost ground in the international market.
• The 9th witnessed silver rate in Coimbatore surging to Rs.41,000 per kg which dropped again to Rs.40,600 per kg - lowest recorded monthly figure - on the 10th after the rising US dollar led to a decline in domestic demand for the metal.
• The week concluded with silver rates holding firm at Rs.40,600 per kg on the 11th amid global cues.

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

• Silver prices in Coimbatore were greatly influenced by the US inflation data released during the week.
• The week began with the white metal priced at Rs.40,900 per kg on the 12th.
• With markets refraining from making purchases ahead of the US inflation data, the US dollar dropped. This led to silver being priced at Rs.41,300 per kg on the 13th.
• The 14th saw silver rate in Coimbatore rising to Rs.41,400 per kg before surging further to Rs.41,800 per kg on the 15th after the dollar weakened with investors eyeing on the inflation data for clues on the pace of interest rate hikes during the year.
• With the US dollar index touching near three-year lows in the global market, prices stabilised at Rs.41,700 per kg on the 16th.
• With investors gravitating on safe-haven assets to hedge against inflation concerns, demand for the white metal rose. This led to silver prices holding steady at Rs.41,700 per kg until the 18th.

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

• The week witnessed silver price in Coimbatore 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 Coimbatore 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 of trading in Coimbatore began with the industrial metal priced at Rs.41,600 per kg on the 26th after investors and traders remained cautious ahead of the Federal Reserve Chairman Jerome Powell’s first congressional testimony.
• Silver rate in Coimbatore rose to Rs.41,700 per kg on the 27th with the US dollar losing against a basket of other emerging currencies in the international markets.
• The Fed Chairman’s promise to save the country from an economic crisis while sticking to the current plan of interest rate hikes resulted in the US dollar strengthening. This led to silver being priced at Rs.41,200 per kg on the 31st.
• Silver trade in Coimbatore recorded a decline of 3.28% in silver prices during the course of the month.

Trend of Silver Rate in Coimbatore for January 2018 (rates per kg)

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 rates holding at Rs.38,925 per kg - the lowest recorded monthly figure - on the 1st.
• Silver price in Coimbatore remained untouched at Rs.38,925 per kg on the 2nd with steady industrial demand for the metal.
• Silver rate in Coimbatore 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, silver rate in Coimbatore 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 Coimbatore 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 in Coimbatore 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 prices 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 silver rates in Coimbatore 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):

• The fourth week witnessed silver prices holding steady during the initial days before surging high halfway into the week with strong safe-haven demand for the metal.
• Trading commenced for the week with the white metal priced at Rs.39,265 per kg on the 22nd amid steady trends overseas.
• Strong global cues coupled with steady demand from local coin makers and industrial units resulted in silver rates holding steady at Rs.39,265 per kg until the 24th.
• However, with the US dollar and equity markets losing considerable ground in the global markets, demand for the safe-haven metal spiked. This led to silver being priced as high as Rs.40,285 per kg on the 25th.
• The rest of the week saw silver rates holding firm at Rs.40,285 per kg owing to steady domestic and global demand amid the poorly performing US dollar and equities.

January 2018 - Week 5 (29 - 31):

• The last week commenced in in Coimbatore 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 Jaipur registered a profit of 8.41% in silver trade during the course of the month.

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

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 Coimbatore 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 Coimbatore 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 highlowest levels this week to trade at Rs.37,180 per kg on the 7th of the month.
• As local demand dropped further, silver rate in Coimbatore 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 rates 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 next 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 prices drop to Rs.37,600 per kg as sales took a hit owing to poor demand locally.
• Silver prices in Coimbatore 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 prices 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, silver rate in Coimbatore 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 Coimbatore surged again to Rs.38,815 per kg on the 28th of the month.
• The 29th saw silver prices incline as well to Rs.38,925 per kg before rising to Rs.39,265 per kg the next day.
• Silver price trends inclined by 2.70% this month, thanks to increased demand towards the final stretch of the month.

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

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

• Silver opened at Rs.39,530 per kg when the first week of November began.
• A rise in demand caused by the festive season, silver price in Coimbatore rose to Rs.39,680 per kg on the 2nd.
• Rates increased again on the 3rd for the metal to trade at Rs.39,950 per kg as traders stocked to meet the possible rise in demand.
• Silver rate in Coimbatore, 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)

• An increase in overnight trading cues led to silver trading at Rs.39,365 per kg on the 6th of November.
• On the 7th, silver price in Coimbatore surged to Rs.39,970 per kg as the US dollar plunged in its valuation, and the bullion industry took full advantage of it.
• Silver rate in Coimbatore 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 Coimbatore 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.
• Gold rate in Coimbatore 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 Coimbatore 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 Coimbatore remained steady.

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

• When trade exchanges opened on the 20th, silver price in Coimbatore 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 rates 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 price in Coimbatore 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 rates 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.

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.