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Trend of Silver Rate in Kannur for April 2018 (rates per kg)
|Parameters||Silver price (per kg)|
|April 1 Rate||Rs.41,400 per kg|
|April 30 Rate||Rs.42,300 per kg|
|Highest Rate in April||Rs.43,800 per kg on 20 and 22 April|
|Lowest Rate in April||Rs.41,000 per kg on 5 April|
|Overall Monthly Performance||Incline|
Trend of Silver Rate in Kannur for March 2018 (rates per kg)
|Parameters||Silver price (per kg)|
|March 1 Rate||Rs.41,100 per kg|
|March 31 Rate||Rs.41,400 per kg|
|Highest Rate in March||Rs.41,900 per kg on 7 March|
|Lowest Rate in March||Rs.41,000 per kg on 19 and 21 March|
|Overall Monthly Performance||Incline|
March 2018 – Week 1 (1 – 4):
- When trading began in Kannur, the industrial metal prices were recorded holding at Rs.41,100 per kg on the 1st amid firm overseas trends.
- An increase in demand for the metal amid the losing equity markets led to silver rates surging to Rs.41,400 per kg on the 2nd.
- Strong demand from local industrial units and coin makers coupled with positive global cues led to silver price in Kannur rising further to Rs.41,600 per kg on the 3rd.
- The week came to an end with the white metal trading firm at Rs.41,600 per kg on the 4th amid the weakened US dollar and stock markets.
March 2018 – Week 2 (5 – 11):
- The second week commenced with silver price in Kannur holding steady at Rs.41,600 per kg on the 5th with domestic markets tracking a firm overseas trend.
- Prices dropped to Rs.41,400 per kg on the 6th before rebounding to Rs.41,900 per kg the next day as the US dollar index lost against a basket of other emerging currencies with equities losing in the international trade.
- With the US dollar regaining from the previous losses, prices dropped to Rs.41,500 per kg on the 8th.
- Poor trends overseas coupled reduced industrial demand led to silver rate in Kannur dropping further to Rs.41,300 per kg on the 9th.
- The dollar, however, failed to hold on to its gains with the equity markets tumbling in the world market. This led stockists and investors gravitating towards investments considered safer such as gold and silver.
- The week ended with silver trading at Rs.41,600 per kg on the 11th amid positive overseas trends.
March 2018 – Week 3 (12 – 18):
- Prices initially fluctuated before gradually tumbling amid the strengthening dollar and rising equities during the week.
- When trading began for the week, the white metal was priced at Rs.41,600 per kg on the 12th.
- With the US employment data indicating a rise in jobs contributing to the US economy, the US dollar rose. This led to silver rates plummeting to Rs.41,400 per kg on the 13th.
- The 14th saw silver price in Kannur rebounding to Rs.41,700 per kg after the abrupt dismissal of Rex Tillerson the US Secretary of State by President Trump led to the dollar losing significantly in the international market.
- However, strong returns on equities and stocks over the next couple of days led to silver being priced at Rs.41,500 per kg and Rs.41,300 per kg on the 15th and the 16th respectively.
- The strengthening US dollar index coupled with firmer equities led to silver rate in Kannur plummeting further to Rs.41,100 per kg on the 17th.
- The week came to an end with the industrial metal prices holding firm at Rs.41,100 per kg on the 18th with subdued but steady domestic demand for the metal amid the poor trend overseas.
March 2018 – Week 4 (19 – 25):
- Trading commenced for the week with silver priced at Rs.41,000 per kg - the lowest recorded monthly figure - on the 19th.
- Though rates recovered to Rs.41,200 per kg on the 20th, silver prices plummeted again to its lowest figure of Rs.41,000 per kg on the 21st after the US dollar held onto its gains from the previous session.
- However, with stockists and investors speculating over the unevenly performing equity markets, demand for safe-haven assets improved. This led to silver price in Kannur rebounding to Rs.41,500 per kg on the 22nd.
- Possibilities of a new Fed rate hike during the month led to the dollar losing further during the week. This led to silver being priced at Rs.41,600 per the kg the following day.
- The week concluded with silver rate in Kannur holding steady at Rs.41,600 per kg on the 25th with strong and steady demand from industries and coin manufacturers amid positive global cues.
March 2018 – Week 5 (26 – 31):
- The last week began with silver trading at Rs.41,600 per kg on the 26th with markets tracking firm trends from the previous week.
- With tensions rising between the US and Russia, demand for safe-haven assets surged. This led to silver price in Kannur surging to Rs.41,800 per kg on the 27th.
- However, the US dollar rebounded soon with the dollar index gaining against a basket of currencies and silver was priced at Rs.41,500 per kg on the 28th before stabilising at Rs.41,400 per kg the next day.
- The month came to an end with silver prices in Kannur holding at Rs.41,400 per kg on the 31st with subdued but steady demand from industrial units and coin manufacturers amid firm overseas trends.
- Kannur registered an incline of 0.72% in silver rate in Kannur during the course of the month.
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 Check Silver Price in NearBy Cities of Kannur
|Silver Rate In Trivandrum||Silver Rate In Kochi||Silver Rate In Kozhikode|
|Silver Rate In Malappuram||Silver Rate In Salem||Silver Rate In Coimbatore|
|Also Know:Gold Rate In Kannur|
Read more on Silver
- Silver – Poor Man’s Gold
- Need for Silver as an Industrial Commodity
- How to Find Certified/Authentic Silver
- What is Spot Silver?
- Silver Bars and Silver Coins