Silver Rate in Kerala

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Silver Rate in Kerala

Silver or ‘poor man’s gold’ as it is often referred is sought-after by millions of Indians in various forms. The price of silver depends on various factors including its demand as an industrial metal. Ever since silver was de-linked as a currency, around 73% of the white metal is being used across the world in various industrial uses from batteries and mobiles to soldering process and satellites among others. Silver, however, is most popular as a valuable asset in the country.

There are several major jewellery stores across Kerala which offer a wide variety of jewellery designs. Silver gift articles and artefacts are also commonplace. Silver bars of various denominations such as 50g and 100g are also bought. The bars are sold at competitive prices may come with assay certification. Silver is utilized for various ritualistic purposes as well.

Historical Trend of Silver Price in Kerala

Trend of Silver Rate in Kerala for January 2021 (rates per kg)

January 2021 - Week 1 (1 - 9):

• Opening the first week of 2021 at Rs.72,000 per kg on 1 January, silver price in Kerala showed a declining trend for the week. The metal's value held steady on 2 January and 3 January at the same price.
• Declining substantially to Rs.69,600 per kg on 4 January, the price of the metal recovered marginally and was Rs.70,400 per kg on 5 January. After dipping marginally to Rs.70,200 per kg, the metal hit its weekly high at Rs.71,400 per kg on 7 January.
• After hitting the highs, the metal’s value declined to Rs.70,100 per kg on 8 January. The white metal’s value dropped to hit its weekly low at Rs.63,900 per kg on 9 January.

Also Check Silver Price in Metro Cities

Trend of Silver Rate in Kerala for December 2020 (rates per kg)

December 2020 - Week 1 (1 - 6):

• Silver rate in Kerala opened the first week of December at Rs.64,600 per kg. This was the lowest recorded price of the precious metal for the month till date. When compared to the closing price of the previous month, the rate of silver was down by Rs.100 for every kilogram.
• The price of silver climbed in the southern state over the next few days and recorded its highest price for the month on 4th December when a kilo was retailed for Rs.67,500.
• Silver closed the opening week at Rs.67,500 per kg as the rates didn’t see any change on 5th and 6th December. The rates witnessed an inclining trend in Kerala over the week.

December 2020 - Week 2 (7 - 13):

• In Kerala, silver opened the second week of December on 7 December at Rs.63,910 per kg and increased to Rs.65,500 per kg on 8 December. The price of the metal, however, declined on 9 December.
• With the rise in risk appetite amongst investors due to vaccine optimism, the price of the metal dipped to RS.64,400 per kg on 9 December and further declined to rs.63,400 per kg on 10 December.
• Increasing marginally on 11 December at Rs.63,410 per kg, the value of silver dipped on 12 December to Rs.63,200 per kg and closed at Rs.63,600 per kg on 13 December with an overall weekly decline in prices.

December 2020 - Week 3 (14 - 20):

• In Kerala, a kilo of silver cost Rs.67,400 on 14th December. There was no change in the price of the white metal when the price was compared to what was charged on the final day of the previous week.
• Silver price climbed in the state over the week and recorded its highest price for the month till date on 18th December. On the mentioned date, a kilogram of the white metal cost Rs.71,500.
• Silver price in Kerala closed the third week of December at Rs.71,500 per kg after the rates didn’t see any change on 19th and 20th December. The overall performance of the white metal witnessed an inclining trend in the rates.

December 2020 - Week 4 (21 - 27):

• The price of silver in Kerala was Rs.70,700 per kg on 21 December and showed an early declining trend during the first half of the week at Rs.69,600 per kg on 22 December. On 23 December, the price of the metal dipped substantially to Rs.66,900 per kg.
• On 24 December, silver rate in Kerala dipped further to Rs.69,600 per kg and on Christmas Day, increased marginally by Rs.10 to Rs.66,610 per kg.
• The price of the metal increased due to the speculations surrounding the stimulus package to be released by the U.S. government and was at RS.67,600 per kg on 26 December and closed the week at the same rate on 27 December.

December 2020 - Week 5 (28 - 31):

• In Kerala, a kilo of silver was retailed for Rs.73,400 at the start of the final week of December. The price of the white metal was up by Rs.2,200 for every kilogram when the price was compared to the price charged on the final day of the previous week.
• Silver price dropped in the state over the next two days. The precious metal was priced Rs.68,800 per kg on 30th December.
• Silver price in Kerala closed the week at Rs.72,300 per kg after the rates increased considerably on the final day of the year. The overall performance of the white metal witnessed an inclining trend in the rates.

Trend of Silver Rate in Kerala for November 2020 (rates per kg)

November 2020 - Week 1 (1 - 8):

• In Kerala, silver opened the month at Rs.60,100 per kg and showed an overall inclining trend for the week, increased to Rs.61,700 per kg on 2 November, further increasing to Rs.61,900 per kg on 3 November.
• Silver rate on 4 November decreased to Rs.61,200 per kg. However, on the following day, the metal hit its highest price of the week at Rs.66,100 per kg on 5 November as the focus on equities fell.
• On 6 November, the metal’s price dipped to Rs.64,500 per kg and on 7 November, the price increased to Rs.65,400 per kg. The metal closed at Rs.65,410 per kg on 8 November.

November 2020 - Week 2 (9 - 15):

• In Kerala, a kilogram of silver was retailed for Rs.65,400 at the start of the second week of November. There was a drop of Rs.10 in the price of every kilogram when compared to the price charged on the final day of the previous week.
• Over the week, silver rates witnessed slight fluctuations in the southern state of the country. A kilo of the white metal was retailed for Rs.63,800 per kg on 14th November.
• Silver price in Kerala closed the week at Rs.63,600 per kg. Silver’s overall performance witnessed an inclining trend in the rates.

November 2020 - Week 3 (16 - 22):

• In Kerala, silver opened the third week of the month on 16 November at Rs.63,610 per kg and recorded a substantial decline to below the Rs.63,000 per kg levels on 17 November at Rs.62,900 per kg.
• On 19 November, the price of the metal dipped to Rs.62,100 per kg and decreased further to Rs.61,600 per kg on 20 November as the investors shifted towards the equities market on positive news on the COVID-19 vaccines being developed by various companies.
• The price of the metal on 21 November was Rs.62,300 per kg, and remained steady until the end of the week and closed at the same rate on 22 November, recording an overall weekly decline.

November 2020 - Week 4 (23 - 30):

• Silver rate in Kerala opened the last week of November at Rs.62,300 per kg and dipped to Rs.60,000 per kg on 24 November. The price of the metal dipped further to Rs.59,500 per kg on 25 November.
• On 27 November, the metal’s price had dipped to Rs.59,600 per kg and it dipped further to Rs.59,200 per kg on 28 November.
• Silver price in Kerala closed the month at Rs.59,100 per kg, recording a monthly low and an overall weekly decline.

Trend of Silver Rate in Kerala for October 2020 (rates per kg)

October 2020 - Week 1 & 2 (1 -11):

• Silver price in Kerala was Rs.60,700 per kg on 1 October, marking the beginning of the first week of the month. The price of the metal increased to Rs.61,210 per kg on 4 October and dipped to Rs.60,600 per kg on 5 October.
• Silver prices, on 6 October was Rs.62,000 per kg and dipped yet again to Rs.60,600 per kg on 7 October. On 8 October, the price of the metal was Rs.60,210 per kg.
• The value of the white metal increased to Rs.60,600 per kg on 9 October and increased to cross the Rs.62,000 per kg mark on 10 October. At the end of the week, silver closed at Rs.62,910 per kg.

October 2020 - Week 3 (12 - 18):

• Silver price in Kerala opened the third week of October at Rs.62,920 per kg. The price of the white metal witnessed an increase of Rs.10 for every kilogram when compared to the price charged on the final day of the previous week.
• With the price of the white metal increasing, silver recorded its highest price for the month till date on 13th October when a kilo was retailed for Rs.63,100 per kg.
• The price of silver saw slight fluctuations over the remainder of the week and closed at Rs.61,700 per kg. Silver’s overall performance in the state witnessed an inclining trend.

October 2020 - Week 4 (19 - 25):

• Opening at Rs.61,350 per kg on 19 October, silver prices in Kerala showed an overall incline for the fourth week of the month. The price of the metal increased to Rs.62,000 per kg on 20 October and hit its highest price of the month on 21 October at Rs.63,500 per kg.
• Dipping marginally by Rs.500, the price of the white metal was at Rs.63,000 per kg on 22 October and dipped further to Rs.62,600 per kg on 23 October.
• Silver rate in Kerala decreased by Rs.100 and was at Rs.62,500 per kg on 24 October and closed the week at the same rate on 25 October.

October 2020 - Week 5 (26 - 31):

• Silver price in Kerala opened the fifth week of October at Rs.61,800 per kg. When compared to the closing price of the previous week, there was a decline of Rs.700 in the price of every kilogram.
• In the southern state of the country, the price of the white metal improved gradually over the week before the rate slipped again on 31st October.
• Silver closed the week at Rs.61,000 per kg with the overall performance witnessing an inclining trend.

Trend of Silver Rate in Kerala for September 2020 (rates per kg)

September 2020 - Week 1 (1 - 6):

• In Kerala, the price of the white metal opened at Rs.76,500 per kg on 1 September and was at its highest on the same day with risk appetite at a low amongst investors.
• However, on 3 September, silver rate in Kerala dropped substantially to below the Rs.66,000 per kg levels at Rs.65,800 per kg due to the value of the U.S. dollar rising in the international market.
• At the end of the week, silver prices recovered from its weekly low and closed at Rs.67,210 per kg, recording an overall decline during the first week of the month.

September 2020 - Week 2 (7 - 13):

• In Kerala, the price of silver opened the second week of September at Rs.67,220 per kg. When compared to the closing price of the previous week, the price was down by Rs.10 per kg
• Over the week, silver rates witnessed fluctuations in the state. A kilogram of silver was retailed for Rs.68,560 on 10th September.
• The rate of silver slipped in the city after that and closed the week at Rs.67,900 per kg. The metal’s overall performance in the state witnessed a declining trend.

September 2020 - Week 3 (14 - 20):

• In Kerala, a kilogram of silver was retailed for Rs.67,910 at the start of the third week of September. There was an increase of Rs.10 for every kilogram when compared to the price charged on the final day of the previous week.
• Over the week, silver rates slipped in the southern state. A kilo of the white metal was retailed for Rs.67,810 per kg on 18th September.
• Silver price in Kerala closed the week at Rs.67,900 per kg with the overall performance witnessing a declining trend.

September 2020 - Week 4 (21 - 27):

• Silver price in Kerala was Rs.67,800 per kg on 21 December and showed a declining trend throughout the week with support for the metal due to the rising number of COVID-19 cases all over the world.
• On 22 September, the price of the metal fell to Rs.61,300 per kg as the dollar value increased against other currencies. Due to this silver hit its lowest price of the month on 24 September at Rs.58,500 per kg.
• On 26 September, the price of silver dipped to Rs.59,000 per kg, falling by Rs.300 compared to the closing price of the previous session. The metal closed the week at the same price on 27 September.

September 2020 - Week 5 (28 - 30):

• Silver price in Kerala opened the week at Rs.59,000 per kg. There was no change in the rates when compared to the price charged on the final day of the previous week.
• The price of silver climbed in the southern state over the next two days and closed the month at Rs.62,500 per kg.
• Over the month, the overall performance of the white metal in Kerala witnessed a declining trend.

Trend of Silver Rate in Kerala for August 2020 (rates per kg)

August 2020 - Week 1 (1 - 9):

• As the number of COVID-19 cases all around the world increased and the U.S. dollar value dipped in the international market, silver rate in Kerala opened at Rs.65,010 per kg and increased throughout the week.
• On 5 August, the metal was priced at Rs.65,060 per kg, increasing marginally and on the following day, increased to cross the Rs.71,000 per kg mark at Rs.71,510 per kg.
• With the United States Federal Reserve announcing a new stimulus package, the silver rate increased to hit record highs on 8 August at Rs.76,520 per kg and closing the week at RS.74,210 per kg on 9 August.

August 2020 - Week 2 (10 - 16):

• In Kerala, a kilo of silver was retailed for Rs.74,220 per kg at the start of the week. The price of the precious metal saw a minimal increase of Rs.10 when compared to the closing price of the previous week.
• The price of silver witnessed a lot of fluctuations over the week in the southern state. The metal’s price slipped to its lowest for the month on 13th August and cost Rs.65,010 per kg.
• Silver rates closed the second week of August at Rs.68,010 per kg after the rates recovered over the last three days of the week. The overall performance witnessed an inclining trend.

August 2020 - Week 3 (17 - 23):

• On 17 August, silver price in Kerala opened the third week of the month at Rs.68,020 per kg and increased by almost Rs.900 to Rs.68,910 per kg on 18 August and further to Rs.71,110 per kg on the following day.
• However, with the dollar value recovering in the market, the silver price dropped to Rs.68,110 per kg on 20 August and further to Rs.67,010 per kg on 21 August.
• On 22 August, the silver price increased to Rs.67,810 per kg and dipped on the last day of the week by Rs.700 to close at Rs.67,110 per kg on 23 August.

August 2020 - Week 4 (24 - 31):

• In Kerala, the price of silver was Rs.67,120 per kg at the start of the week. There was a minimal increase of Rs.10 in the price of the white metal when compared to the closing price of the previous week.
• Silver rates witnessed a lot of fluctuations over the final week of August in the southern state of the country.
• Silver price in Kerala closed the week at Rs.66,370 per kg. The overall performance of the precious metal witnessed an inclining trend in the state.

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

July 2020- Week 1 (01 - 05):

• Silver prices in Kerala opened at Rs.48,560 per kg on 1 July and increased to hit the highest price of the week the following day on 2 July at Rs.50,060 per kg. The rise in prices was majorly due to the rise in COVID-19 cases in the country along with the world, which prompted investors to shift to safe-haven assets and away from the equities market.
• The price of the white metal on 3 July dipped to Rs.48,610 per kg as the risk sentiment increased amongst investors with the United States of America showing positive data in the country. The hopes of a possible COVID-19 vaccine also added to the increased risk appetite of investors. On 4 July, the value of the metal dipped further to Rs.48,560 per kg.
• On the last day of the week, the metal’s value dipped further to Rs.48,510 per kg on 5 July, closing the week at the same price recording an overall weekly decline in its prices.

July 2020 - Week 2 (06 - 12):

• In Kerala, the value of the white metal showed an overall inclining trend for the week, opening at Rs.48,520 per kg on 6 July and increasing to Rs.49,610 per kg in one day, on 7 July. As the number of fresh cases of COVID-19 continued to increase all over the world, investors stayed away from the riskier assets and focused on the bullion market resulting in higher safe-haven demand. On 8 July, the price of silver was priced at 49,300 per kg, dipping by Rs.310 as the value of the U.S. dollar recovered in the market.
• On 9 July, silver prices increased yet again as the renewed risk appetite amongst investors was short-lived with the rising cases of COVID-19 in the United States of America. Silver was priced at Rs.50,030 per kg on the date and increased by more than Rs.1,000 to be priced at Rs.51,910 per kg, moving swiftly towards its 7-year highs.
• However, the value of the metal dipped marginally with speculations regarding economic recovery dampening the safe-haven and demand-driven rise of silver prices. On 11 July, the value of silver increased marginally to Rs.51,960 per kg and hit its 7-year high at Rs.52,000 per kg on 12 July, with an overall incline in prices.

July 2020 - Week 3 (13 - 19):

• In Kerala, silver was priced Rs.52,010 per kg on 13th of July. The price of the metal was up by Rs.10 in the state when compared to the closing price of the previous week.
• Silver rates in the state fluctuated over the week. Silver’s highest price for the month till date was recorded on 16th July when a kilo was retailed for Rs.53,010 per kg.
• The white metal closed the week at Rs.52,910 per kg. The overall performance of the metal in Kerala was that of incline.

July 2020 - Week 4 (20 - 26):

• In Kerala, the price of silver at the start of the fourth week of July was Rs.52,290 per kg. The price of the white metal had increased by Rs.10 for every kilogram when compared to the price charged on the final day of the previous week.
• Silver rates climbed in the state over the week and recorded its highest price for the month till date on 24th July. A kilo was retailed for Rs.62,010 per kg on the mentioned date.
• Silver price in Kerala closed the penultimate week of the month at Rs.61,210 per kg.

July 2020 - Week 5 (27 - 31):

• Silver price in Kerala showed heavy inclines in the last week of the month opening at Rs.61,220 per kg on 27 July, silver rates increased and was at Rs.64,710 per kg on the following day.
• Increasing further, the price of silver increased to cross the Rs.66,000 per kg mark at Rs.66,050 per kg on 29 July and increased further to hit the highest price in the month at Rs.66,060 per kg on 30 July.
• On the last day, investors shifted back to the equities and booked profits. The metal’s price dipped and closed at Rs.63,010 per kg on 31 July.

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

June 2020 - Week 1 (1 - 7):

• A kilogram of the white metal was retailed for Rs.50,120 on 1st of June in Kerala. Compared to the closing price of the previous month, the rates improved by Rs.20. The jump in the rates continued the next day and recorded its highest price for the month till date as riots in major U.S. cities rattled investors further given that they were reeling under strained ties between Washington and Beijing. Silver was retailed for Rs.50,160 per gram on the mentioned date.
• The rates of silver dropped on 3rd June equities jumped to a three-month high on optimism over global economic recovery. Following the slip in the rates, a kilo of the white metal was retailed for Rs.48,900 per kg. While the rates improved slightly the next day, it dropped again on 5th and 6th of June.
• The drop in the rates saw silver record its lowest price for the month till date on 6th June. A kilo of the white metal cost Rs.47,400 per kg in the state. Silver price improved on the final day of the week and closed at Rs.47,410 per kg. Over the week, the rates witnessed an inclining trend in Kerala.

June 2020 - Week 2 (8 - 15):

• In the state of Kerala, the price of silver in the second week of the month was Rs.47,470 per kg on 9 June with investors shifting away from riskier assets and shifting focus towards the bullion due to its safe-haven asset. The price of the metal increased on 10 June to Rs.48,200 per kg with the dollar value dipping in the international market and rising safe-haven demand of the metal increasing. On 11 June, the price of the metal increased marginally to Rs.48,310 per kg with investors waiting on the update from the United States Federal Reserve on the economic projection of the U.S. for the fiscal year.
• On 12 June, the price of the metal hit the highest of the month at Rs.48,510 per kg, increasing by Rs.200 per kg. However, the price of the white metal dipped marginally to Rs.48,460 per kg due to increased risk appetite amongst investors.
• On 14 June, the value of the metal dipped further to Rs.47,710 per kg and held steady. On the last day of the week, the metal’s price increased marginally and closed at Rs.47,720 per kg on 15 June and recorded an overall decline in the movie.

June 2020 - Week 3 (16 - 21):

• In the state of Kerala, the white metal cost Rs.47,110 per kg at the start of the third week of June. With dollar hovering near a more than one-week high, the rates recorded a sharp decline when compared to what was charged on the last day of the previous week.
• Silver rates jumped to Rs.47,700 per kg on 17th June before slipping on 18th and 19th June in the state. A kilo of the precious metal was retailed for Rs.47,560 in Kerala on 19th June. The decline in the rates was seen as U.S. jobless claims fell.
• The rates improved over the last two days of the week and closed at Rs.48,670 per kg. The overall performance of the metal witnessed a declining trend in the southern state of the country.

June 2020 - Week 4 (22 - 30):

• In the state of Kerala, a kilo of silver was retailed for Rs.48,680 on 22nd June. The rates witnessed an increase of Rs.10 when compared to the closing price of the previous week.
• While the rates increased the next day, silver prices slipped over the next three days in the state. The drop in the rates was seen due to a selloff in equity markets given the surge in coronavirus cases. The price charged for a kilo of the precious metal was Rs.47,610 on 26th June.
• Over the last four days of the week, the rates increased gradually as fears about a delay in global economic recovery intensified and prompted investors to turn towards the safe-haven metal. Silver closed the week at Rs.48,510 per kg with the overall performance witnessing a declining trend in the state.

July 2020 - Week 5 (27 - 31):

• Silver price in Kerala showed heavy inclines in the last week of the month opening at Rs.61,220 per kg on 27 July, silver rates increased and was at Rs.64,710 per kg on the following day.
• Increasing further, the price of silver increased to cross the Rs.66,000 per kg mark at Rs.66,050 per kg on 29 July and increased further to hit the highest price in the month at Rs.66,060 per kg on 30 July.
• On the last day, investors shifted back to the equities and booked profits. The metal’s price dipped and closed at Rs.63,010 per kg on 31 July.

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

May 2020 - Week 1 (1 - 9):

• Silver opened the first week of May at Rs.42,530 per kg in the state of Kerala. When compared to the closing price of the previous week, the rate charged for a kilo was up by Rs.1,010. The sharp increase in the price of the white metal was accounted to bleak U.S. data which highlighted the economic impact of COVID – 19.
• The price of the white metal slipped to its lowest for the month to date in the state the following day with a kilo costing Rs.41,010. However, the rates recovered quickly and went up to Rs.41,520 per kg by 5th of May. The increase came after investors moved away from riskier assets following U.S. President Donald Trump’s threat of imposing tariffs on China over the coronavirus pandemic.
• The rate of the precious metal increased substantially towards the end of the week and closed the opening week of the month at Rs.43,510 per kg. This was the highest recorded price of the metal for the month to date. Silver’s overall performance witnessed an inclining trend in the rates over the week.

May 2020 - Week 2 (10-16):

• Silver price opened the second week at Rs.43,610 per kg on 10 May in the state of Kerala and increased marginally to Rs.43,620 per kg on 11 May. The price of the metal dipped marginally on 12 May to Rs.43,090 per kg. The fluctuation in prices of the metal was due to the rising cases of fresh COVID-19 cases all over the world. However, fluctuations in prices also occurred due to a decline in local demand for the metal in the country.
• On 13 May, the metal’s price was Rs.42,950 per kg and increased marginally to Rs.42,960 per kg on 14 May. The rise in prices was due to various stimulus packages being released by central banks which supported the bullion market. With less risk appetite, the investors shifted to the metal rather than the equities market, amidst the steady value of the United States dollar in the international market.
• Gold prices on 15 May were Rs.43,160 per kg and increased to a great extent on 16 May to hit its highest price of the week and the month at Rs.46,900 per kg. The rise in prices was due to renewed tensions between China and the United States of America. Due to uncertainties surrounding the trade deal, the price of the metal closed the week at Rs.46,900 per kg.

May 2020 - Week 3 (17 - 23):

• The white metal opened the third week of May at Rs.46,710 per kg in Kerala. When compared to the closing price of the previous week, the rates for every kilo slipped by Rs.190 in the state. However, the rates increased over the next two days amid uncertainty over how economies would emerge from a coronavirus induced slowdown.
• The jump in the rates saw silver record its highest price for the month on 19th May with a kilo costing Rs.48,510 in the state. Having recorded its highest, the rates slipped to Rs.47,670 per kilo on 20th May as the US dollar strengthened and hopes for a quick economic recovery dented the bullion’s safe-haven appeal.
• Over the last three day of the penultimate week, the rates of the white metal increased in the state and closed at Rs.48,350 per kg. In Kerala, the metal’s overall performance witnessed an inclining trend in the rates.

May 2020 - Week 4 (24 - 31):

• In the last week of the month, silver opened at Rs.48,360 per kg on 24 May and increased substantially to Rs.48,000 per kg on 25 May getting a boost from decreased risk appetite amongst investors and higher local demand. However, on 26 May, the white metal’s price dipped to Rs.48,000 per kg, recording a decline of Rs.3,400 per kg. Investors shifted back the stock market with Japanese equities showcasing positive data, thinking this would provide a boost to the faster recovery of the economy.
• However, on 27 May, the price of the metal increased to Rs.48,700 per kg, showing an immediate inclining trend with the people of the U.S. Awaiting a response from Washington to Beijing about the security law being imposed on Hong Kong by China. The price of the metal dipped on 28 May to Rs.47,910 per kg with investors showing lesser interest in the bullion market with tensions rising in the United States of America due to riots.
• On 29 May, the price of the metal remained steady at Rs.47,910 per kg, increasing to Rs.48,560 per kg on 30 May, rising by Rs.650 per kg. The rise in prices was due to the tensions rising between China and the United States of America, prompting investors to shift to the bullion market. At the end of the month and the week, silver prices increased, crossing the Rs.50,000 per kg mark and closing at an overall incline at Rs.50,100 per kg.

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

April 2020 - Week 1 (1 - 4):

• Silver prices in Kerala opened at Rs.40,500 per kg on 1 April. With the 21-day lockdown in place by the Central Government, the price of the metal remained unchanged for the entire week as the trading centres for bullion remained shut.
• Even with the constant fluctuations in the price of silver in the international market due to various factors, such as poor job data from the United States of America and the rising value of the dollar, the price of the metal in the state was not affected.
• At the end of the week, on 4 April, silver closed the first week of the month at Rs.40,500 per kg with no change in prices.

April 2020 - Week 2 (5 -11):

• Silver prices in Kerala opened the second week of April at Rs.40,500 per kg. There was no change in the rates of the metal when compared to the opening week’s closing price.
• Over the next three days, the rates of the white metal recorded its highest and lowest price for the month till date. Silver recorded its highest and lowest price on the 6th and 8th of April with a kilo costing Rs.41,290 and Rs.40,360 respectively. The increase in the prices was accounted to equities gaining while the decline in the prices was because of the risk sentiment getting hammered as deaths due to the coronavirus increased across the world.
• After the metal recorded its highest price in the state, the rates dropped to Rs.40,500 per kg before increasing and closing the week at Rs.41,100 per kg. The overall performance of the metal saw an incline in the prices.

April 2020 - Week 3 (12 - 18):

• Silver prices in Kerala opened the third week of April at Rs.41,100 per kg. No change was seen in the rates of the metal when compared to the opening week’s closing price.
• The price of the metal on 13 April increased and on 14 April, the price of the metal increased to Rs.41,310 per kg. The rise in prices was majorly due to the rise in the dollar value in the international market. On 15 April, silver prices increased to hit its highest of the week and the month at Rs.41,920 per kg. However, on 16 April, silver prices dropped marginally to Rs.41,860 per kg.
• After the metal recorded its highest price in the state, the rates dropped to Rs.41,900 per kg before on 17 April and closed the month with a major dip in price at Rs.41,210 per kg on 18 April. 

April 2020 - Week 4 (19 - 25)

• Silver price stood at Rs.41,260 per kg on 19 April in the southern state of Kerala. The rates were down by Rs.50 for every kilogram when compared to the previous week’s closing price. The rates increased by Rs.10 for every kilo on 20th April before recording its highest for the month of April till date on 21st April. A kilogram of the white metal was retailed for Rs.42,710 on the mentioned date in Kerala.
• The rates dipped following that as the oil rout triggered a panic sell off in wider markets, fuelling a rush for liquidity. The cost of silver slipped to Rs.41,420 per kg on 23rd April as investors booked profits from the sharp gains made in the previous session.
• Silver closed the week at Rs.42,540 per kg in the state after the rates improved in the final two days of the week. The precious metal witnessed an inclining trend in the prices over the penultimate week of April.

April 2020 - Week 5 (26 - 30):

• Silver prices in Kerala opened the last week of April at Rs.42,610 per kg on 27 April which was the highest price of the white metal in the week and the month. However, the rise in prices was short-lived and the white metal’s price dipped by Rs.400 per kg to be priced at Rs.42,210 per kg on 28 April.
• On 29 April, the price of the precious metal fell further below the Rs.42,000 per kg mark to Rs.41,510 per kg. The major dip in prices came due to the shift in investor focus from the bullion market to the stock market. At the end of the month, on 30 April, the price of the metal increased marginally to Rs.41,520 per kg recording an overall monthly incline.

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

March 2020 - Week 1 (01 - 07):

• Opening the first week of March, silver was priced at Rs.47,400 per kg in the state of Kerala. The metal showed a fluctuating trend throughout the week, ending the week with an overall incline in its prices. This was mainly due to investors shifting to the bullion market with increased fears of the Coronavirus all over the world. The price of the metal increased to Rs.48,500 per kg on 2 March.
• The white metal’s prices remained steady on 3 March but increased by Rs.600 per kg on 4 March with investors shifting to the bullion market after the Federal Reserve of the United States of America announced a 0.25% rate cut in the market. However, the rise in prices did not last long as silver prices dipped to Rs.49,900 per kg on 5 March. The dip in prices was due to a strong dollar value in the global market which capped the gains of the bullion.
• The price of silver had bounced back substantially on 6 March hitting its highest price in the week at Rs.50,700 per kg with an increased number of new cases of the virus being reported all over the world. Silver closed the week at Rs.50,500 per kg with an overall incline.

March 2020 - Week 2 (8 - 14):

• At the start of the second week of March, silver was priced at Rs.50,500 per kg in Kerala. Compared to the previous week’s closing price, the rates remained unchanged in the southern state. The rates of the white metal slipped to Rs.49,200 the next day as investors sold the bullion to cover margin calls amid plummeting equity and energy markets
• The rates of the white metal fluctuated over the next couple of days and cost Rs.48,600 per kg on 12 March. Following that, silver prices plunged by Rs.4,600 for a kilogram in two days as panic selling was driven by intensifying fears over the coronavirus pandemic.
• Silver closed the week at Rs.44,000 per kg in Kerala. The closing price was the lowest recorded price for the metal over the month till date with the overall performance of the white metal showing a declining trend in the state.

March 2020 - Week 3 (15 - 21):

• At the beginning of the third week of March, silver was priced at Rs.44,000 per kg in Kerala. When compared to the previous week’s prices, the metal’s value had dipped by close to Rs.1,000 per kg. The price of the metal showed a decline in prices to Rs.43,200 per kg on 16 March and further decline to Rs.39,000 per kg on 17 March. The metal’s prices had dropped substantially in a matter of two days.
• Due to investors selling their assets to convert them into cash, heavy selling of the metal had resulted in the decline of its price. On 18 March, the price of silver had inclined by Rs.300 to be priced at Rs.39,300 per kg. However, on 19 March, the metal saw its biggest decline in many years, priced at Rs.37,800 per kg. The metal’s price had dipped by around Rs.7,000 per kg in a matter of just 4 days.
• However, on 20 March, the price of the metal recovered on safe-haven appeal amidst a fluctuating and volatile market. The price of silver had increased to Rs.39,900 per kg on 20 March and closed the week at Rs.40,100 per kg on 21 March recording an overall decline in prices.

March 2020 - Week 4 (22 - 31):

• At the start of the final week of March, silver was priced at Rs.40,100 per kg in Kerala. When compared to the previous week’s prices, the rates of the white metal remained unchanged.
• The rates of silver increased by Rs.600 per kg on 23 March to be retailed for Rs.40,700 in the state. The increase in the prices was accounted to the U.S. Federal Reserve taking aggressive new steps to combat the economic impact given the outbreak of the coronavirus pandemic. However, the rates fell by Rs.200 for every kg the next day.
• In the state, the rates of the white metal closed the week at Rs.40,500 per kg after the rates didn’t see any change following 24 March. The fact that silver prices didn’t change was accounted to the 21-day lockdown imposed by the government in a bid to contain the spread of the deadly virus which had affected people all around the world.

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

February 2020- Week 1 (1 - 9):

• In Kerala, the price of the metal opened the week at Rs.50,300 per kg and held steady until 3 February at the same price. However, on 4 February, the white metal’s prices dipped marginally to Rs.49,800 per kg. Investors awaited the decision to be taken by China and the United States of America on stabilising the economy amidst increasing fears of the Coronavirus.
• With the Central Bank in China cutting down the repo rates to let an inflow of funds into the economy, risk appetite increased amongst investors and the demand for the metal began to decrease in the global market. The price of the metal also hit its weekly low on 5 February at Rs.49,600 per kg. However, on 7 February, silver prices recovered marginally and increased to Rs.50,000 per kg.
• After hitting the Rs.50,000 per kg mark, silver prices in the city marginally dipped again by Rs.100 to Rs.49,900 per kg in the state. With the fears of the virus increasing on a daily basis, investors kept the demand for the bullion steady due to its safe-haven appeal. At the end of the week, silver closed at Rs.49,900 per kg.

February 2020- Week 2 (10 - 16):

• Silver started the second week of February at Rs.49,900 per kg in the southern state of Kerala. The rates of the white metal didn’t see any change in the prices when compared to the closing price of the previous week.
• The rates of the precious metal dropped in the state over the next two days as investors’ risk appetite increased following reports of decline in the number of new coronavirus cases in China. On 12 February, a kilogram of the white metal was retailed for Rs.49,500 per kg. This was the lowest recorded price of silver for the month of February till date in Kerala.
• The white metal closed the week at Rs.50,000 per kg as investors assessed the risks to the global economy due to the outbreak of coronavirus in China. Silver’s overall performance in the state showed a decline in the prices.

February 2020 - Week 3 (17 - 23):

• Silver opened the third week of February at Rs.50,400 per kg in the state of Kerala. The rates of the white metal had increased marginally when compared to the previous day’s closing price by Rs.400. Silver prices held steady on 18 February as well with investors looking to shift back to the stock market amidst a higher risk appetite.
• However, the price of the metal showed inclining trends throughout the week with the outbreak of Coronavirus intensifying in the country of China and other countries like Italy and South Korea as well. The metal’s price had increased to Rs.51,600 per kg on 19 February and further increased to Rs.52,100 per kg on 20 February.
• With the rapid rate of inclines, silver was also in demand locally by industries and coin makers. Due to this, along with the support of positive global trends, the metal closed the week at a high of Rs.52,400 per kg on 23 February.

February 2020 - Week 4 (24 to 29):

• Silver prices in Kerala opened the fourth week of February at Rs.52,900 per kg which was highest recorded price for the month in the state. Compared to the previous week’s closing price, the rates increased by Rs.500 for every kilogram.
• The rates dropped over the next few days in the state due to concerns regarding the spread of coronavirus outside China. The increase in the number of new cases and deaths due to it raised fears about the potential impact on global economic growth.
• In Kerala, silver closed the month of February at Rs.47,400 per kg. This was the lowest recorded price for the white metal in the state over the month. The overall performance witnessed a declining trend in the prices.

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

January 2020 - Week 1(01 - 05):

• Silver opened the first week of January at Rs.50,300 per kg in the state of Kerala. Due to a falling dollar value and tensions in the west, the price of the white metal increased through the week.
• The rates of white metal saw a lot of change over the week in the state due to the tensions between the United States of America and Iran. This was when a U.S. sanctioned drone strike in Iran resulted in the death of a high-level military official. On 3 January, the price of the metal increased to Rs.51,100 per kg.
• The precious metal closed the week at Rs.50,300 per kg with a slight decrease of Rs.100 per kg due to volumes remaining thin amidst global economic growth concerns and uncertainty the tensions between both the countries.

January 2020 - Week 2(06 - 12):

• The white metal opened the second week at a high price of Rs.52,300 per kg in the state of Kerala. Due to global trends and geopolitical factors, the metal’s prices fluctuated throughout the week. On 7 January, the price of the metal fell by Rs.1,300 per kg to Rs.51,000 per kg.
• The rates of white metal saw constant changes through the week in the state due to the tensions between Iran and the United States of America. Silver prices hit its weekly high at Rs.52,600 per kg on 8 January, but not before dipping by Rs.1,600 per kg on 11 January. This was when President Trump decided not to attack Iran.
• As the risk appetite of investors increased, the focus for investors shifted from the bullion to the stock market, resulting in a steady decline of the metal’s prices. On 11 January, silver was priced at Rs.50,600 per kg and closed the week at the same price.

January 2020 - Week 3(3 - 19):

• The white metal opened the third week of the month at Rs.50,400 per kg in Kerala. The price of silver fluctuated through the first half of the week. On 14 January, the price of the metal was Rs.49,700 per kg, with a decline in prices by Rs.300 per kg. This was majorly due to traders awaiting the trade deal between the U.S. and China to be signed.
• In the latter part of the week, silver prices held steady due to increasing speculations on many unresolved issues in the trade deal, one of which was the tariffs on Chinese goods. The price of the metal held steady at Rs.50,400 per kg.
• At the end of the week, silver closed at Rs.50,400 per kg due to rising tensions in the Middle East when a drone strike in an Army base took the lives of more than 100 soldiers in Yemen. With that and increased demand ahead of the Chinese New Year, the demand for the metal remained firm.

January 2020 - Week 4(3 - 19):

• Silver opened the penultimate week of January at Rs.50,700 per kg in Kerala. The rates of the precious metal went up by Rs.300 for every kilogram when compared to the previous week’s closing price.
• The rates of silver climbed the next day as investors sought refuge in the safe-haven metal rates. Every kilogram of the while metal cost Rs.51,000.
• As investors assessed the risk of coronavirus becoming a global epidemic, silver prices in Kerala slipped to Rs.49,800 per kg, the next day i.e., 22 January. The rates closed the fourth week of the month at Rs.51,000 per kg with the overall performance showing that the prices were trending upwards.

January 2020- Week 5 (27 - 31):

• In Kerala, the price of the metal opened the last week of January at Rs.51,300 per kg. With a fluctuating trend, silver prices dipped to Rs.50,800 per kg on 28 January. The dip in prices was majorly due to lowered industry demand and decreased offset amongst coin makers.
• However, silver prices fluctuated and increased marginally to Rs.51,000 per kg on 29 January as investors shifted to the bullion market due to escalated fears of the Coronavirus and low dollar value. As the investors took the effect of the virus into account for its effect on the economy, the value of the metal dipped further.
• On 30 January, the white metal hit its lowest price at Rs.49,200 per kg due to a positive data of consumer durables in the United States of America and a positive trend in manufacturing from China. However, as the WHO declared a World Health Emergency due to the virus, the price of the metal showed a marginal incline and closed the month at Rs.50,200 per kg.

Silver as an investment in Kerala

Silver is bought in the form of coins and bars. Customers can also invest in Milestone Bullion Series 1, which needs a minimum investment of Rs.5 lakhs. Given that silver ETFs are not available in India, many customers have alternative form of investment such as buying and selling securities which are traded in the US.

Physical silver: Many consumers in Kerala physically own silver in the form of trendy jewellery. However, customers may lose some money if they wish to sell their jewellery owing to any impurities, exchange rates and making charges. Most consumers find investing in jewellery more convenient in addition its aesthetic appeal. Fashionable silverware is also widely sold at all leading stores across major cities in Kerala.

Silver contracts: Customers trade in trade in top commodity exchanges such as NCDEX and MCX for silver futures. Many customers see commodity futures as an easier form of investment with transparent pricing and minimal transaction charges. However, the physical delivery of the white precious metal entails various issues vis-a-vis its purity and storage.

Read more on Silver

• Silver – Poor Man’s Gold
• How To Find Certified/Authentic Silver
• About Silver Mining
• Why Should You Invest In Silver?
• Need For Silver As An Industrial Commodity