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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 2016 (rates per kg)
|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