Silver Rate In Kannur

  • Silver Rate Today ( 15 Aug 2020 )

    ₹ 66.95
    Today's Silver Rate per gram

    Compare Silver Price (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Silver (1 gram) ₹ 66.95 ₹ 65.01 ₹ 1.94 ↑
    Bar Silver (1 Kg) ₹ 66,950 ₹ 65,010 ₹ 1,940 ↑

    Daily Silver Rates

    Date Silver (1 gram) Bar Silver (1 Kg)
    14 Aug 2020 ₹ 66.95 ₹ 66,950
    13 Aug 2020 ₹ 65.01 ₹ 65,010
    12 Aug 2020 ₹ 72.55 ₹ 72,550
    11 Aug 2020 ₹ 75.16 ₹ 75,160
    10 Aug 2020 ₹ 74.22 ₹ 74,220
    09 Aug 2020 ₹ 74.21 ₹ 74,210
    08 Aug 2020 ₹ 76.52 ₹ 76,520
    07 Aug 2020 ₹ 73.51 ₹ 73,510
    06 Aug 2020 ₹ 71.51 ₹ 71,510
    05 Aug 2020 ₹ 65.06 ₹ 65,060

    Silver Rate Trend

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    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Trend of Silver Rate in Kannur for July 2020 (rates per kg)

    Parameters Silver Price (per kg)
    July 1 Rate Rs.48,560 per kg
    July 31 Rate Rs.63,010 per kg
    Highest Rate in July Rs.66,060 per kg on 30 July
    Lowest Rate in July Rs.48,510 per kg on 5 July
    Overall Monthly Performance Incline
    Percentage Change 29.75%

    Trend of Silver Rate in Kannur for June 2020 (rates per kg)

    Parameters Silver Price (per kg)
    June 1 Rate Rs.50,120 per kg
    June 30 Rate Rs.48,510 per kg
    Highest Rate in June Rs.50,160 per kg on 2 June
    Lowest Rate in June Rs.47,110 per kg on 16 June
    Overall Monthly Performance Decline
    Percentage Change -3.21%

    Trend of Silver Rate in Kannur for May 2020 (rates per kg)

    Parameters Silver Price (per kg)
    May 1 Rate Rs.42,530 per kg
    May 31 Rate Rs.50,100 per kg
    Highest Rate in May Rs.51,400 per kg on 25 May
    Lowest Rate in May Rs.41,010 per kg on 2 May
    Overall Monthly Performance Incline
    Percentage Change 17.79%
    • On 1 May 2020, the price of silver in Kannur was at Rs.42,530 for a kg. Even though silver hit its lowest rate for the month on the next day and was at Rs.41,010 per kg, the white metal showed signs of an upward trend because of the several measures introduced by Central Banks all over the world to help the economy because of the coronavirus outbreak. However, the prices of silver reduced by the end of the week because several countries eased the lockdown restrictions, increasing hopes that the stock markets would improve. The rising tensions between China and the US over the coronavirus outbreak further ensured that silver remained a safe haven. The prices of white metal remained steady because of a firm US dollar.
    • In the second week of the month, the price of silver in the city opened at Rs.42,060 for a kg. On 11 May 2020, silver hit its highest rate for the week and was at Rs.43,620 per kg. The economic data released by the US showed an increase in unemployment, which caused fears of a global recession. Due to the uncertain times, the white metal was considered as a safe haven. The anticipation of the US payroll data also ensured that the prices of silver increased.
    • In the third week of the month, silver opened at Rs.43,160 for a kg. However, silver prices quickly increased to Rs.46,900 per kg. Silver prices fluctuated throughout the week and closed the week at Rs.48,200 for a kg. The tensions between China and the US over the coronavirus outbreak and the introduction of a new security law in Hong Kong further ensured that the prices of silver increased. The US jobs data that showed a weak economy also impacted the prices of silver. The job data hampered hopes that the economy would recover quickly. However, the appetite for riskier assets also improved as there was the optimism of a vaccine for coronavirus.
    • In the last week of the month, silver opened at Rs.48,250 per kg. On 25 May 2020, silver hit its highest rate for the month and was at Rs.51,400 per kg. The main reason for the increase in prices was the tension between China and the US over the protests in Hong Kong. The prices of silver were also boosted by the several measures introduced by Central Banks all over the world to help the economy. The volatile economy lowered the appetite for riskier products. A weak US dollar also resulted in the prices of silver increasing. Due to the weak stock markets and the tensions between China and the US, silver prices in Kannur increased by 17.79% over the course of the month.

    Trend of Silver Rate in Kannur for April 2020 (rates per kg)

    Parameter Silver price
    April 1 Rate  Rs.40,500 per kg
    April 30 Rate  Rs.41,520 per kg
    Highest Rate in April Rs.42,710 per kg on 21 April
    Lowest Rate in April Rs.40,360 per kg on 6 April
    Overall Performance  Incline
    Percentage Change 2.51%
    • The price of silver on the first day of April was at Rs.40,500 per kg in Kannur. No changes were seen in the prices of the yellow metal over the next four days. On 6 April 2020, silver was at Rs.40,360 per kg. This was also the lowest rate that silver hit for the month. The main reason for the reduction in prices was a strong dollar. On 8 April 2020, the prices of silver jumped to Rs.41,290 per kg. After decreasing the next day, silver prices again jumped to Rs.41,00 on 10 April 2020.
    • On 11 April 2020 and 12 April 2020, silver rates remained the same and were at Rs.41,100 per kg. However, silver saw an increase in its prices from 13 April because of the coronavirus outbreak and the fears of a global recession. On 15 April 2020, silver was at Rs.41,920 per kg. The weak manufacturing data in the US and low sales also ensured that the prices of silver increased. Silver prices gradually dropped over the next three days. The main reasons for the fall were investor appetite for riskier products and the stimulus measures rolled out by Central Banks across the world. Various measures were introduced due to the fear of a global recession.
    • On 21 April 2020, silver hit its highest rate for the month and was at Rs.42,710 per kg. A weak US dollar and the several measures that were introduced by Central Banks in various countries were the main reasons for the prices to increase. On 22 April 2020, the prices of silver had fallen to Rs.41,600 for a kg due to a firm dollar and the plans to reopen the economy in the US. Silver prices fluctuated over the rest of the week. On 26 April 2020, silver was at Rs.42,600 per kg.
    • After increasing by Rs.10 on the next day, the prices of silver fell by Rs.400 on 28 April 2020. Silver rates again fell by Rs.700 on 29 April 2020. Over the course of two days, the prices of silver had fallen by Rs.1,100. The main reasons for the reduction in prices were the plans to ease the restrictions of the lockdown in several countries and investors moving towards the equity market. On 30 April 2020, the price was at Rs.41,520 per kg in Kannur. Overall, silver prices increased by 2.51% over the course of the month.

    Trend of Silver Rate in Kannur for March 2020 (rates per kg)

    Parameters Silver Price (per kg
    March 1 Rate Rs.47,400 per kg
    March 31 Rate Rs.40,500 per kg
    Highest Rate in March Rs.50,700 per kg on 6 March
    Lowest Rate in March Rs.37,800 per kg on 19 March
    Overall Monthly Performance Decline
    Percentage Change -14.5%
    • Silver opened at a rate of Rs.47,400 per kg in March in Kannur. This was in response to fears of a global recession following the impact of the coronavirus pandemic across job markets all over the world, thus making precious metals all the more attractive as a safe haven investment.
    • The price of silver continued to rise into the second week of March with the highest rate for the month being Rs.50,700 per kg on 6 March, which was set to be the biggest weekly gain in almost 11 years. The dip in equity markets around the world led to its continued appeal as a safe-haven investment.
    • However, prices dipped to the lowest on 19 March, staying at Rs.37,800 per kg as investors started liquidating their assets in response to economic growth being severely threatened due to the coronavirus pandemic. With the dollar rising even higher, silver dipped even more.
    • By the end of the month, the price of silver had slipped considerably, ending at Rs.40,500 per kg by 31 March. This was in response to the Chinese economy getting back on track and the dollar strengthening, leading to investors once again having an increased risk appetite at the stock market.
    • The overall monthly performance for silver in March in Kannur was a decline with a percentage change of –14.5%, which was a downer from the positive trend that it had begun on at the beginning of the month.

    Trend of Silver Rate in Kannur for February 2020 (rates per kg)

    Parameters Silver Price (per kg)
    February 1 Rate Rs.50,300 per kg
    February 29 Rate Rs.47,400 per kg
    Highest Rate in February Rs.52,900 per kg on 24 February
    Lowest Rate in February Rs.47,400 per kg on 29 February
    Overall Monthly Performance Decline
    Percentage Change -5.76%
    • In Kannur, silver prices stood at Rs.50,300 per kg on 1 February 2020. Compared to the previous month’s closing price, the rates increased by Rs.100 for every kilogram.
    • Over the first two weeks of the month, the rates saw minor fluctuations with the outbreak of coronavirus threatening to become a pandemic.
    • With global equities taking a hit as coronavirus spread to Europe, the Middle East, and South Korea, silver prices rose to Rs.52,900 per kg on 24 February.
    • The rates slipped following that as investors started finding cash more effective given the increasing fears of coronavirus which resulted in assets being liquidated. Silver closed the month at Rs.47,400 per kg with the overall performance showing a decline of 5.76%.

    Trend of Silver Rate in Kannur for January 2020 (rates per kg) 

    Parameters Silver Price (per kg)
    January 1 Rate Rs.50,300 per kg
    January 31 Rate Rs.50,200 per kg
    Highest Rate in January Rs.52,600 per kg on 8 January
    Lowest Rate in January Rs.49,200 per kg on 30 January
    Overall Monthly Performance Decline
    Percentage Change -0.19%
    • Speculation around the US-China trade deal progressing resulted in a rise in silver prices at the beginning of the month, hitting Rs.50,300 per kg.
    • By 8 January, silver had risen to Rs.52,600 per kg, which was the highest for the month of January in Kannur. This could be attributed to rising tensions around the US-Iran military confrontation with silver seen as a safe haven in such an uncertain political climate.
    • The price of silver in Kannur fell the lowest by the end of the month, at Rs.49,200, with the equity markets springing back to a high and the dollar also recovering ahead of the meeting of the US Federal Reserve.
    • The overall performance of silver showed a decline with a percentage of –0.19%, keeping with the ebb and flow of international events that affected it.

    Also Check Silver Price in NearBy Cities of Kannur

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    Silver Rates In Kannur

    Silver is considered a safe haven during any crisis and currency devaluations. Many invest in the white precious metal to save their purchasing power during times of high inflation. Silver has a wide industrial application besides silverware fabrication and extensive use in decorative articles. Some of the important factors which affect silver rates crude oil prices, depreciating dollar, commodity prices and industrial demand among others.

    Silver rates in Kannur (Kerala) are affected by the aforementioned factors. Silver is used in the form of silverware and gift articles in Kannur. Various items of jewellery such as necklaces and rings are widely sold. Owing to its wide variety of industrial uses, the demand for the white precious metal is on the rise. As a result, silver is considered a valuable investment.

    Silver As An Investment In Kannur

    Small investors in Kannur are more keen on silver than gold given that the former is more affordable compared to the latter. Most consumers in Kannur view silver as a safe form of investment owing to its intrinsic value. There are several major stores across Kannur which offer a wide range of coins, silverware and jewellery.

    Physical silver: Silver is used for decorative items in Kannur. There are several prominent stores across Kannur which offer a wide range of designer silverware and jewellery. Many consumers in Kannur buy silver bars and coins which are considered the most conventional forms of investment. Silver is also widely sought in the form of intricate silverware in addition to various kinds of ornaments.

    Silver contracts: Silver is traded in National Multi Commodity Exchange (NMCE) and Multi Commodity Exchange (MCX). The minimum contract traded (silver micro) is 1 kg. Customers have to bear various charges such as brokerage fees and stamp duty among others. Trading in silver futures depends on gold prices and industrial demand among many others.

    Silver Price In Kannur

    1 kg of silver is pegged at Rs.36,400 in Kannur district in Kerala as on March 1, 2016, a 5.9% increase from Rs.34343 in December 2015. The price of 1 kg of silver was pegged at Rs.40185 in January 2015. The rate of silver decreased by -3.5% and -5.1% in the following months of June and July respectively to Rs.36019. The price of 1 kg of silver was pegged at Rs.35978 in September 2015. The price of silver fell further to Rs.35,234 and Rs.34100 in the months of October and November 2015 respectively.

    Also Know:Gold Rate In Kannur

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