Silver Rate in Madurai

  • Today's Silver Rate in Madurai( 12 Dec 2019 )
    ₹ 47
    Today's Silver Rate per gram
    Compare Silver Rate In Madurai (Today & Yesterday)
    Today
    (12 Dec 2019)
    Yesterday
    (11 Dec 2019)
    Rate Change
    Silver (1 gram) ₹ 47 ₹ 46.5 ₹ 0.5 ↑
    Bar Silver (1 Kg) ₹ 47,000 ₹ 46,500 ₹ 500 ↑
    Silver Price In Madurai For Last 10 Days
    Date Silver (1 gram) Bar Silver (1 Kg)
    12 Dec 2019 ₹ 47 ₹ 47,000
    11 Dec 2019 ₹ 46.5 ₹ 46,500
    10 Dec 2019 ₹ 46.4 ₹ 46,400
    09 Dec 2019 ₹ 46.5 ₹ 46,500
    08 Dec 2019 ₹ 46.6 ₹ 46,600
    07 Dec 2019 ₹ 46.6 ₹ 46,600
    06 Dec 2019 ₹ 47.6 ₹ 47,600
    05 Dec 2019 ₹ 47.6 ₹ 47,600
    04 Dec 2019 ₹ 47.9 ₹ 47,900
    03 Dec 2019 ₹ 47.7 ₹ 47,700

    Weekly & Monthly Graph of Silver Rate in Madurai

    • 7 Days
    • 30 Days
    • 3 Months
    • 6 Months

    *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.

    Silver Price in Madurai

    The idea of buying silver as a tradable and investable commodity is gaining popularity in India, where gold and silver are traditionally bought as jewelry and ornaments. With the advent of easy access to real-time silver rates, fluctuations and news, more and more people are starting to realize that investing in silver in Madurai can generate income and profits, if done right.

    Trend of Silver Rate in Madurai for November 2019 (rates per kg)

    Parameters Silver Price (per kg)
    November 1 Rate Rs.50,500 per kg
    November 30 Rate Rs.48,100 per kg
    Highest Rate in November Rs.50,700 per kg on 2 and 3 November
    Lowest Rate in November Rs.47,200 per kg on 9 and 10 November
    Overall Monthly Performance Decline
    Percentage Change -4.75%

    Trend of Silver Rate in Madurai for October 2019 (rates per kg)

    Parameters Silver Price (per kg)
    October 1 Rate Rs.47,400 per kg
    October 31 Rate Rs.50,000 per kg
    Highest Rate in October Rs.50,400 per kg on 26 and 27 October
    Lowest Rate in October Rs.47,400 per kg on 1 October
    Overall Monthly Performance Incline
    Percentage Change 5.4%
    • Silver rates in Madurai were low at the beginning of the month at Rs.47,000 per kg with the US-China trade war causing uncertainties to bolster the dollar. This was also the lowest rate in October.
    • Prices climbed to Rs.50,400 per kg on 26 and 27 October as stocks were positively impacted by the strengthening of the dollar and rise of equity markets after the US said it was close to a trade pact with China.
    • Silver prices were at Rs.50,000 per kg by the end of the month with a steady incline of 5.4% as the uncertainty around the US-China deal resulted in the metal becoming a more attractive and safe investment.

    Trend of Silver Rate in Madurai for September 2019 (rates per kg)

    Parameters Silver Price (per kg)
    September 1 Rate Rs.51,600 per kg
    September 30 Rate Rs.48,500per kg
    Highest Rate in September Rs.55,200 per kg on 4 September
    Lowest Rate in September Rs.48,500 per kg on 30 September
    Overall Monthly Performance Decline
    Percentage Change -6%

    Trend of Silver Rate in Madurai for August 2019 (rates per kg)

    Parameters Silver Price (per kg)
    August 1 Rate Rs.44,100 per kg
    August 31 Rate Rs.51,600 per kg
    Highest Rate in August Rs.52,200 per kg on 29 August
    Lowest Rate in August Rs.44,100 per kg on 1 August
    Overall Monthly Performance Incline
    Percentage Change 17%
    • Silver rates in Madurai were priced at Rs.44,100 per kg when the month began and rose steadily on increasing demand from industrial units as well as coin makers, though a weak rupee reduced retail offtake.
    • Rising tensions in the Middle East led to a slump in equities, as investors sought safe-haven assets like bullion which propelled the industrial metal to Rs.48,500 per kg on 13 August.
    • Minor demand fluctuations saw prices dip to Rs.47,700 per kg on 20 August as the dollar recovered on an equity rally, but the U.S.-China trade dispute once again dampened investor sentiment and bolstered bullion offtake.
    • Prices surged to Rs.50,100 per kg on 26 August as fresh trade tariffs against China were announced, renewing fears of a global downturn, with prices continuing to climb to Rs.52,200 per kg on 29 August. The month ended with silver trading at Rs.51,600 per kg.

    Trend of Silver Rate in Madurai for July 2019 (rates per kg)

    Parameters Silver Price (per kg)
    July 1 Rate Rs.40,500 per kg
    July 31 Rate Rs.44,800 per kg
    Highest Rate in July Rs.44,900 per kg on 25 July
    Lowest Rate in July Rs.40,400 per kg on 2 July
    Overall Monthly Performance Incline
    Percentage Change 10.61%

    Trend of Silver Rate in Madurai for June 2019 (rates per kg)

    Parameters Silver Price (per kg)
    June 1 Rate Rs.39,400 per kg
    June 30 Rate Rs.40,800 per kg
    Highest Rate in June Rs.41,500 per kg on 21 June
    Lowest Rate in June Rs.39,400 per kg from 1 - 2 June
    Overall Monthly Performance Decline
    Percentage Change 3.55%
    • At the start of the month, silver rate in Madurai stood at Rs.39,400 per kg. This was the same price it traded at during the end of the previous month. The price of the metal remained stable primarily due to stagnant demand. This was the lowest the metal was trading at for the month.
    • As the Federal Bank’s decision to cut interest rates caused speculation in a declining economic growth, the dollar value dipped. This caused the price of silver to rise to Rs.40,100 per kg on June 14.
    • The white metal then hit a monthly high on June 21 as the Federal Reserve Bank signaled it was on the verge of cutting interest rate. During this time, silver traded at Rs.41,500 per kg.
    • The month ended with silver trading at Rs.40,800 per kg, recording a 3.55% monthly incline.

    Trend of Silver Rate in Madurai for May 2019 (rates per kg)

    Parameters Silver Price (per kg)
    May 1 Rate Rs.40,500 per kg
    May 31 Rate Rs.39,400 per kg
    Highest Rate in May Rs.40,500 per kg on 1 and 2 May
    Lowest Rate in May Rs.39,200 per kg from 20-22 May
    Overall Monthly Performance Decline
    Percentage Change -2.71%

    Silver Rate in Madurai for May 2019:

    • After opening at Rs.40,500 per kg, silver prices in Madurai slid on weak overseas cues and reducing industrial offtake, as a rising U.S. dollar rate capped gains and reduced profits.
    • The industrial metal traded at Rs.39,500 per kg on 3 May but a rebound in bullion interest saw prices rise to Rs.40,400 per kg on 8 May though declining retail demand was a cause for worry.
    • Continued market volatility due to the Sino-U.S. trade dispute and geopolitical tensions due to U.S.-Iran rhetoric initially bolstered bullion demand but stagnant local demand saw prices dip to Rs.39,700 per kg on 17 May.
    • Weak orders from China and fluctuating offtake from coin makers kept silver rates in Madurai low, with the metal trading at Rs.39,300 per kg on 23 May with only a marginal rise to Rs.39,400 per kg when the month ended on 31 May.

    Trend of Silver Rate in Madurai for April 2019 (rates per kg)

    Parameters Silver Price (per kg)
    April 1 Rate Rs.40,600 per kg
    April 30 Rate Rs.40,500 per kg
    Highest Rate in April Rs.41,000 per kg on 9 April
    Lowest Rate in April Rs.40,200 per kg on 15 and 24 April
    Overall Monthly Performance Decline
    Percentage Change -0.24%

    Trend of Silver Rate in Madurai for March 2019 (rates per kg)

    Parameters Silver Price (per kg)
    March 1 Rate Rs.42,700 per kg
    March 31 Rate Rs.40,600 per kg
    Highest Rate in March Rs.42,700 per kg on 1 March
    Lowest Rate in March Rs.40,200 per kg on 29 March
    Overall Monthly Performance Decline
    Percentage Change -4.91%
    • As the dollar recovered from February’s low, investors shifted to the market resulting in the decrease of silver prices. Opening at Rs.42,700, it recorded the highest price in March.
    • European Government announced its first rate hike on 7 March resulting in the U.S. Dollar rising over the Euro. This resulted in the shift from equity towards the stock market. This resulted in the price of silver decreasing to Rs.41,000.
    • Bullion showed bearish results during the second week of March increasing to Rs.41,500 due to economic instability and political tensions surrounding the United States economy. However, the gain was short-lived as silver prices slipped yet again to Rs.41,000 per kg by 15 March.
    • As the U.S.-China trade negotiations were underway, the markets fluctuated resulting in a slight increase in bullion demand. The price of the metal increased to Rs.41,400 per kg in the last week of the month, however, decreased yet again. Silver closed at a price of Rs.40,600 per kg resulting in a percentage decline of 4.91.

    Trend of Silver Rate in Madurai for February 2019 (rates per kg)

    Parameters Silver Price (per kg)
    February 1 Rate Rs.43,900 per kg
    February 28 Rate Rs.43,300 per kg
    Highest Rate in February Rs.44,100 per kg on 5 February
    Lowest Rate in February Rs.42,700 per kg on 14 February
    Overall Monthly Performance Decline
    Percentage Change -1.36%
    • Constant industrial demand kept silver prices in Madurai from fluctuating as conflicting global cues and a volatile greenback rate impacted the demand for silver despite a healthy opening at Rs.43,900 per kg.
    • An increase in overseas demand coupled with rising demand from coin makers led silver prices to rise to a monthly high of Rs.44,100 per kg on 5 February; however, demand fell as the dollar appreciated, with the metal’s rate declining to Rs.42,700 per kg on 14 February.
    • Anticipation towards a positive outcome of the US-China talks on trade between the countries saw an incline in equities but interest on bullion remained stable as silver traded at Rs.44,000 a kg on 20 February.
    • Prices declined slightly as positive economic data and a more stringent monetary policy tone by the Federal Reserve prompted dollar rates to incline, resulting in the industrial metal closing the month at Rs.43,300 per kg – losing 1.36% in value during the month.

    Trend of Silver Rate in Madurai for January 2019 (rates per kg)

    Parameters Silver Price (per kg)
    January 1 Rate Rs.41,500 per kg
    January 31 Rate Rs.43,900 per kg
    Highest Rate in January Rs.43,900 per kg on 30 and 31 January
    Lowest Rate in January Rs.41,400 per kg on 2 December
    Overall Monthly Performance Incline
    Percentage Change 5.78%
    • Silver benefitted from a weak dollar and steady local and industrial demand after a weak stance of Rs.41,500 per kg at the start of January.
    • The US shutdown clubbed with the economic crisis due to the aftermath of Brexit, which caused investors to invest in bullion. As on 11 January, silver prices rose to Rs.42,400 per kg.
    • Despite stagnant demand from the Asian industries after the US trade sanctions, local industries refused to let silver price slip. On 18 January, silver price in Madurai stood at Rs.42,800 per kg.
    • On 25 January, the price of silver in the city plummeted to Rs.42,100 per kg, while the dollar recovered post the reopening of the US government. On 31 January, the price of silver soared to Rs.43,900 per kg to record a monthly incline of 5.78%.

    Trend of Silver Rate in Madurai for December 2018 (rates per gram)

    Parameters Silver Price (per kg)
    December 1 Rate Rs.38,500 per kg
    December 31 Rate Rs.41,500 per kg
    Highest Rate in December Rs.41,500 per gram on 31 December
    Lowest Rate in December Rs.38,500 per gram on 1 December
    Overall Monthly Performance Incline
    Percentage Change 7.79%

    Silver rate trend in Madurai in December 2018:

    • The price of the metal on 1 December was Rs.38,500 per kg and increased due to various geopolitical events which resulted in a fall in markets.
    • By the middle of the month, silver trading reached Rs.40,600 per as the value of the rupee increased against the dollar. This led to investors shifting to bullion for investments, thus increasing demand.
    • In the second half of the month, the silver prices continued increasing as local demand increased due to the onset of the wedding season.
    • Silver trading closed December at Rs.41,500 per kg with a percentage incline of 7.79.

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

    Parameters Silver price (per kg)
    November 1 Rate Rs.40,900 per kg
    November 30 Rate Rs.38,800 per kg
    Highest Rate in November Rs.41,500 per kg from 2-4 and 6 November
    Lowest Rate in November Rs.38,800 per kg on 30 November
    Overall Monthly Performance Decline
    Percentage Change -5.13%

    Silver Rate Trend in Madurai for November 2018:

    • The rate of silver in Madurai on November 1 was Rs.40,900 per kg as the first week witnessed a steady rise in the price. This was mainly led by a sharp increase in the demand for the metal owing to the festive season. Later, the price hit its monthly high at Rs.41,500 per kg.
    • The second week of November was marked by a drop in the silver prices. The fall came owing to a strengthening dollar that made the investors flock away from bullion. As a result, the demand for silver retreated as the price hit Rs.40,000 per kg on November 12.
    • A similar trend was observed in the second half of the month as well. The demand for the white metal from local coin makers and industrial units was flat, albeit stable. The price hovered close to the Rs.40,000 per kg for most of the third week.
    • In the closing days of the month, a more severe dive was seen in the silver prices. As the demand dropped further, the metal closed trading on the 30th at Rs.38,800 per kg to register a fall of 5.13% in the month.

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

    Parameters Silver price (per kg)
    October 1 Rate Rs.41,100 per kg
    October 31 Rate Rs.41,200 per kg
    Highest Rate in October Rs.42,000 per kg on 3 October
    Lowest Rate in October Rs.41,100 per kg on 1 and 2 October
    Overall Monthly Performance Incline
    Percentage Change 0.24%

    October 2018 - Week 1 (1-7):

    • Silver opened the week trading at Rs.41,100 per kg with steady demand from the local market for the white metal.
    • Prices inclined to Rs.42,000 per kg on 3 October with apprehensions of a possible hike in interest rate by the Federal Reserve.
    • The white closed the week trading at Rs.41,900 per kg recording an increase of Rs.800 over the opening price of silver.

    October 2018 - Week 2 (8-14):

    • The industrial metal opened the week trading at Rs.41,500 per kg on 8 October amid weak overseas cues and a drop in demand from the local industries and coin makers.
    • Silver prices in Madurai dropped to Rs.41,100 per kg on 11 October with the US dollar rally amid bullish equity markets which led to a fall in demand for the white metal.
    • Silver traded at Rs.41,500 per kg on 14 October, the same price the industrial metal was trading at when the week began.

    October 2018 - Week 3 (15-21):

    • Silver rates in Madurai on 15 October stood at Rs.41,900 per kg amid a recovering market from its losses during the last week.
    • Rates fell to Rs.41,400 per kg on 17 October before surging to Rs.41,700 per kg the next day on account of the tumbling stock markets and losing dollar index.
    • When the week ended, silver traded at Rs.41,500 per kg due to weak demand for the white metal amid a recovering dollar and surge in the performance of the equity market.

    October 2018 - Week 4 (22-28):

    • When the week began, the silver rate in Madurai was at Rs.41,500 per kg on steady demand from industries and coin makers in the back of a firm market trend overseas.
    • Prices rose to Rs.41,900 per kg on 24 October as the rupee depreciated over the US dollar due to a highly volatile market.
    • Silver ended the week at Rs.41,700 per kg after the dollar appreciated leading to a drop in imports in the local market.

    October 2018 - Week 5 (29-31):

    • In the last week of October, silver opened to trade at Rs.41,600 per kg with demand on the fall amid a strong dollar and rising equities.
    • Weak demand along with unfavourable market trend, which led to a further drop in prices and silver was recorded trading at Rs.41,200 per kg on 30 October.
    • Overall, silver prices in Madurai witnessed an incline of 0.24% of its overall value over the course of the month.

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

    Parameters Silver price (per kg)
    September 1 Rate Rs.40,000 per kg
    September 30 Rate Rs.41,200 per kg
    Highest Rate in September Rs.41,200 per kg on 29 and 30 September
    Lowest Rate in September Rs.39,500 per kg on 5, 7, 15-16 September
    Overall Monthly Performance Incline
    Percentage Change 3%

    September 2018- Week 1 (1-8)

    • Silver opened at Rs.40,000 per kg on 1st September 2018.
    • In the following days silver rates drifted and hit Rs.40,000 on 3th and further slipped and recorded a monthly low of Rs.39,500 per kg on 5th September.
    • By the end of the week, silver rates in Madurai 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)

    • Steady local and overseas demand for the metal helped silver rate remain unaffected and trade at Rs.39,700 per kg on 9th September.
    • During the week, the value of the dollar weakened as the US inflation data was not as bad as expected and it dimmed the policy tightening case proposed by the US Federal Reserve.
    • The silver rate 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)

    • On 16 September, silver opened at Rs.39,500 per kg but increased throughout the week as the value of the US dollar weakened due to the ongoing trade war tension.
    • As the demand for the metal picked up, silver prices surged and traded at Rs.39,700 per kg on 17 and further increased to Rs.39,800 per kg and Rs.40,000 per kg on 18 and 19 September respectively.
    • The price of the metal inclined to Rs.40,100 per kg on 20 and 21 September and closed at Rs.40,300 per kg on the 22nd amid global trade tension.

    September 2018- Week 4 (23-30)

    • On the first day of the week, silver opened at Rs.40,300 per kg on 23 September.
    • Though silver rates fell to Rs.40,000 per kg on 24 September, it quickly recovered and traded at Rs.40,200 per kg on 25 and further increased to Rs.40,800 per kg on 26 September.
    • The highest silver rate for the month was recorded on 29 and 30 September when the metal traded at Rs.41,200 per kg. Silver prices recorded an overall incline of 3% for the month of September in Madurai.

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

    Parameters Silver price (per kg)
    August 1 Rate Rs.41,400 per kg
    August 31 Rate Rs.40,300 per kg
    Highest Rate in August Rs.41,400 per kg on 1 and 9 August
    Lowest Rate in August Rs.39,800 per kg on 24 August
    Overall Monthly Performance Decline
    Percentage Change -2.65%

    August 2018 - Week 1 (1 - 05):

    • As on 1 August, silver was priced at Rs.41,400 per kg in Madurai.
    • The next day, due to poor demand from domestic players, the price of silver dropped. The price dropped by Rs.300 per kg and stood at Rs.41,100 per kg on 02 August.
    • On 04 August, silver prices surged by Rs.200 per kg as the demand for the metal picked up.
    • At the end of week 1, the price of silver in Madurai stood at Rs.41,300 per kg.

    August 2018 - Week 2 (6 - 12):

    • The metal continued to trade at Rs.41,300 per kg on 06 August.
    • Industrial demand for silver in the city plummeted at the beginning of week 2 which caused silver prices to decline in Madurai.
    • On 7 August, the US economy showed positive trends causing the value of the dollar to rise and the price of silver fell to Rs.41,200 per kg.
    • On 9 August silver in Madurai was trading at Rs.41,400 per kg. The uprise in the price of silver can be linked to the decline in the value of the US dollar.
    • Due to poor demand for the metal from industrial units and coin makers, n 10 August, silver prices fell and traded at Rs.41,100 per kg.
    • A slight hike was noticed in silver prices on the last day of the week when the metal traded at Rs.41,200 per kg.

    August 2018 - Week 3 (13 - 19):

    • On 13 August, silver continued traded at Rs.41,200 per kg in Madurai. No changes in silver rates were recorded on the first day of the week as the demand for the metal was stable.
    • However, on 14 August, silver prices fell significantly and traded at Rs.40,900 per kg. The drop in demand for the metal could have been the cause for the decline in silver prices.
    • During this week, US released employment data which indicated a favourable impact on its economy. This led to the incline in the value of the US dollar and experts expected a drop in silver prices in Madurai.
    • However, uncharacteristically silver prices in Madurai rose in value on 15 August and traded at Rs.41,100 per kg.
    • The hike in silver prices did not last long as the price of the metal dipped the very next day to Rs.39,900 per kg.
    • During 17 - 19 August, silver prices increased by Rs.100 per kg and closed at Rs.40,000 per kg.

    August 2018 - Week 4 (20 - 26):

    • The price of silver in the city remained unaltered on 20 August and continued to trade at Rs.40,000 per kg.
    • On 22 August, as the domestic demand for the metal picked up, the price of silver rose by Rs.100 per kg and traded at Rs.40,100 per kg.
    • Silver prices fell further and traded at Rs.39,900 per kg as the dollar rose in value in comparison to other currencies.
    • In the following days, demand for the metal declined which caused the price of silver to drop further to Rs.39,800 per kg.
    • Silver closed at Rs.40,200 per kg on 27 August.

    August 2018 - Week 5 (27 - 31):

    • Silver was priced at Rs.40,200 per kg on 27 August in Madurai. The silver rate in the city remained unchanged due to the steady demand for the metal.
    • Throughout the month of August, demand for the metal played a major role in determining the price of silver.
    • The week ended with the dollar rising in correspondence to other currencies, causing the silver price to decline to Rs.40,300 per kg on 31 August.
    • The month recorded a declining trend in silver price at the rate of -2.65%.

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

    Parameters Silver price (per kg)
    July 1 Rate Rs.42,800 per kg
    July 31 Rate Rs.41,400 per kg
    Highest Rate in July Rs.42,900 per kg from 9 - 10 July
    Lowest Rate in July Rs.41,200 per kg from 28 - 29 July
    Overall Monthly Performance Decrease
    Percentage Change -3.27%

    July 2018- Week 1 (1-10)

    • In Madurai, silver was traded at Rs.42,800 per kg on 01 July 2018.
    • On 03 July 2018, silver rates fell by Rs.400 per kg and traded at Rs.42,400 per kg. Poor demand from coin makers and industrial units in the Madurai affected the silver rates negatively.
    • However, in the following days, silver prices picked up and traded at Rs.42,800 per kg. The rise in silver rates can be directly associated to the spike in demand for the metal from local jewelers.
    • On 9 and 10 July, the highest silver price of Rs.42,900 per kg was recorded for the month. Silver rates rose as demand picked up further.
    • The increase in silver rates during the last two days of the week can be attributed to positive market trends and the declining dollar rates over all other currencies.

    July 2018- Week 2 (11-17)

    • Silver prices fell by Rs.300 per kg on 11 July and traded at Rs.42,600 per kg.
    • Though the value of the dollar remained stable, silver prices continued to drop due to poor domestic demand.
    • As the demand for the metal fell further, silver prices fell. Silver traded at Rs.42,200 per kg from 12 - 14 July.
    • Silver traded at Rs.42,300 per kg on 16 July 2018, a marginal increase was noted, but the prices of the metal quickly dropped.
    • Silver rates was not significantly affected though the value of dollar fell in the last few days in this week.
    • Silver dropped further and stood at Rs.42,100 per kg on 17 July.

    July 2018- Week 3 (18 - 24)

    • On the first day of week 3, silver was priced at Rs.41,700 per kg.
    • A drop of Rs.400 per kg was noted on the first day of the week due to mute demand from local merchants.
    • The main factor that affected silver prices in Madurai throughout the month was the demand for the metal. However, the value of the dollar played a key role in determining the silver price this week.
    • On 20 July 2018, the price of silver further dipped to Rs.41,300 per kg. However, this could be due to a rise in the dollar value.
    • Silver rates between 21 - 22 July stood at Rs.41,700 per kg. Though the prices slightly picked up on 21 and 22, the rates quickly fell to Rs.41,400 per kg on 24 July.

    July 2018- Week 4 (25 - 31)

    • On 25 July, an increase of Rs.100 per kg was recorded and silver opened at Rs.41,500 per kg.
    • On 26 July, the rate of silver increased by Rs.300 per kg and traded at Rs.41,800 per kg as the demand for the metal picked up.
    • The price of silver stood at Rs.41,200 per kg as on 28 - 29 July. This was also the lowest silver price recorded for the month.
    • 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.
    • Overall, silver prices in Madurai fell by 3.27% i the month of July.

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

    Parameters Silver price (per kg)
    June 1 Rate Rs.42,800 per kg
    June 30 Rate Rs.42,800 per kg
    Highest Rate in June Rs.45,000 per kg on 15 June
    Lowest Rate in June Rs.42,600 per kg from 2- 5 June
    Overall Monthly Performance Stable
    Percentage Change 0.00%

    June 2018- Week 1 (1-10)

    • Silver prices in Madurai showed signs of volatility, with the metal opening the week at Rs.42,800 per kg on stable demand from industrial units.
    • The recent rally by the dollar ahead of the summit between the United States and North Korea caused some turbulence on the commodity exchanges, as silver prices fell to Rs.42,600 per kg on 2 June.
    • Local industrial offtake fluctuate based on the dollar rate, as the rupee fell heavily against the dollar for most of the week.
    • Prices were stable for the remainder of the week, as investor sentiment moved towards bullion, as silver ended the week priced at Rs.43,700 per kg on 10 June.

    June 2018- Week 2 (11-17)

    • The positive market trend continued in spite of the dollar gaining on other currencies, as silver opened the second week priced at Rs.43,900 per kg on 11 June.
    • Industrial offtake kept prices stable, as both local as well as overseas industrial units increased order volumes ahead of a possible trade war.
    • Silver prices jumped to Rs.44,000 per kg on 12 June before surging to Rs.45,000 per kg on 15 June on sharp dips in the dollar rate.
    • The fear of a global trade war led to renewed pressure on the dollar as investors looked to bullion as a safe haven.
    • Silver price in Madurai stabilised towards the end of the week, with silver trading at Rs.44,300 per kg on 17 June.

    June 2018- Week 3 (18-24)

    • Silver in Madurai was priced at Rs.43,400 per kg on 18 June as prices fluctuated following the rapid drop in the dollar rate last week.
    • Demand for bullion was on the decline as equity markets recovered amidst positive investor sentiment, with industrial offtake falling steadily.
    • Silver price in Madurai fell to Rs.42,900 per kg on 21 June as investors looked to short sell bullion, which affected silver sales as well.
    • The continued drop in demand for silver from industrial units led to stagnating sales locally, though overseas demand kept pace with previous sessions.
    • There was some fluctuation in prices towards the end of the week, though silver did not see much change in price.

    June 2018- Week 4 (25-30)

    • The last week of June saw silver price in Madurai decline steadily due to poor demand from industrial units, resulting in silver prices dropping steadily.
    • The industrial metal was priced at Rs.43,200 per kg when trading opened on 25 June, with local coin makers reducing offtake due to the rising dollar rate.
    • Stable local equity markets coupled with overseas trends led to silver rate in Madurai falling to Rs.43,100 per kg on 26 June.
    • The Federal Reserve meeting and a possible interest rate hike led to increased pressure on bullion, as silver prices tumbled to Rs.42,800 per kg on 29 June.
    • There was no change in price as the month ended, with silver remaining unchanged from the month’s opening price.

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

    Parameters Silver price (per kg)
    May 1 Rate Rs.42,000 per kg
    May 31 Rate Rs.43,100 per kg
    Highest Rate in May Rs.43,800 per kg on 25 May
    Lowest Rate in May Rs.42,000 per kg on 1 May
    Overall Monthly Performance Incline
    Percentage Change 2.61%

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

    • The month began with silver priced at Rs.42,000 per kg in Madurai as demand for silver was stable as a result of steady orders from industrial units.
    • Political conditions such as the trade talks between the U.S., and China as well as the U.S.-North Korea tensions led to equity markets performing poorly, which led to higher demand for safe-haven assets like bullion.
    • Silver price in Madurai rose to Rs.42,600 per kg on 3 May before declining orders led to a marginal drop in prices.
    • A rise in the dollar rate as well as stable economic markets locally led to silver prices falling to Rs.41,100 per kg on 6 May.

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

    • The second week saw demand for silver rise marginally due to wildly fluctuating equity markets and currency markets.
    • The week began with silver trading at Rs.43,200 per kg on 7 May due to steady demand from industrial as well as retail sectors.
    • Tensions between the U.S. and North Korea dominated equity market predictions and led to profit-booking by some investors.
    • Demand rose in spite of a steady dollar ahead for talks between the United States and North Korea, which also had Asian stocks trading high.
    • Silver price in Madurai continued to rise for the rest of the week as currencies also plunged.
    • Local demand was steady but demand vagaries led to the industrial metal trading at Rs.43,600 per kg on 13 May.

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

    • Silver price in Madurai rose to Rs.43,600 per kg as the third week began as investors assessed the impact of the upcoming summit between the U.S. and NOrth Korea.
    • Overseas demand for the industrial metal was quite high as markets were low and the dollar rate was poor, resulting in increased demand for bullion.
    • Silver fell to to Rs.43,000 per kg on 16 May as local industrial demand increased on positive market cues and futures buying.
    • Prices were high for most of the week as international cues bolstered local demand and kept prices steady.
    • A slight dip in price was recorded towards the end of the week as the dollar rate began to recover and equity markets also made some gains.
    • Silver ended the week priced at Rs.43,100 per kg on 20 May.

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

    • Demand for silver was steady but there was a drop in the industrial metal’s value over the fourth week of May.
    • The outcome of the Fed Reserve meeting and U.S. industrial data due to be released led to investors being more bullish as interest in bullion fell.
    • Silver opened the week at Rs.43,100 per kg on 20 May after an early rally but prices dropped on poor demand for the rest of the week.
    • As tensions between China and the U.S. appeared to be easing, equity markets and the dollar rose, leading to lower imports of silver.
    • Silver price in Madurai rose to Rs.43,500 per kg on 23 May before continuing to rise on positive demand cues

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

    • The last week of May saw demand for the industrial metal on the decline due to lower investor interest in bullion ahead of the much anticipated North Korea- U.S. summit.
    • Silver opened the week at Rs.43,000 per kg on 28 May before prices dropped to Rs.42,900 per kg on 30 May.
    • Poor local demand also contributed to the drop in price, though silver recovered marginally to end the month at Rs.43,100 per kg.

    Trend of Silver Rate in Madurai 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
    Percentage Change 2.17%

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

    • The week saw silver rates in Madurai fluctuating owing to an inconsistent demand brought about by the unevenly performing US dollar and equity markets.
    • Silver was priced at Rs.41,400 per kg on the 1st when trading began for the month.
    • With the dollar index losing against other apex currencies, prices rose to Rs.41,600 per kg on the 3rd.
    • However, a decline in demand brought about by the recovering greenback led to silver rates dropping to Rs.41,300 per kg on the 4th.
    • The 5th saw the white metal prices dropping to Rs.41,000 per kg - the lowest recorded monthly figure - owing to poor domestic demand brought about by weak global cues.
    • The week ended with silver trading slightly higher at Rs.41,200 per kg on the 7th following an increase in industrial demand for the metal.

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

    • The week opened with silver rates holding at Rs.41,200 per kg on the 8th with steady demand from industrial units and coin makers amid the poor trend overseas.
    • The 10th saw silver prices surging to Rs.41,300 per kg before rising further to Rs.41,700 per kg on the 11th after a drop in the dollar value led to an increase in local demand for the metal.
    • Poor dollar performances coupled with losing equities led to rates surging to Rs.42,000 per kg on the 12th.
    • Prices plunged to Rs.41,600 per kg on the 13th as the US dollar began regaining lost ground from its previous rally of losses, pushing demand lower for the industrial metal.
    • Rates rebounded to Rs.41,900 per kg on the 14th after the US-led airstrikes on Syria sparked safe-haven demand for the metal.
    • Strong investor demand coupled with positive global cues led to silver prices holding at Rs.41,900 per kg for the remainder of the week.

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

    • The week commenced with the white metal priced at Rs.42,100 per kg on the 16th with steady investor demand coupled with firm market trends globally.
    • With market participants banking on safe-haven assets such as gold and silver amid the deteriorating diplomatic relations between the US and the Korean peninsula, prices surged over the next few days.
    • On the 19th, the white metal was recorded holding at Rs.43,700 per kg amid the strong trend overseas.
    • The 20th saw silver rates hitting their highest monthly figure of Rs.43,800 per kg with strong demand from domestic industrial units and coin makers.
    • The week came to an end with silver rates in Madurai holding at Rs.43,800 per kg on the 22nd on account of steady local demand for the metal.

    April 2018- Week 4 (23- 30):

    • The last week of trading began with the white metal priced at Rs.43,700 per kg on the 23rd after a rise in the dollar value resulted in declining demand for the metal.
    • With the dollar gaining against other apex currencies amid the well-performing equity markets, silver prices dropped considerably during the week.
    • The 24th saw silver rates plummeting to Rs.43,000 per kg with poor global demand amid the strengthened greenback.
    • Prices rose to Rs.43,100 per kg on the 25th before dropping to Rs.43,000 per kg as demand from local industries and coin makers declined amid the strong US dollar index.
    • Silver prices were recorded holding at Rs.42,800 per kg on the 27th and the 28th with subdued domestic demand for the white metal.
    • Trading concluded for the month with silver priced at Rs.42,300 per kg on the 30th and Madurai registered a profit of 2.17% in silver trade on account of the strong trends that pushed demand higher for the metal during the course of the month.

    Trend of Silver Rate in Madurai 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

    Percentage Change

    0.72%

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

    • Trading commenced for the month with silver price in Madurai holding at Rs.41,100 per kg on the 1st amid firm overseas trends.
    • Strong industrial offtake coupled with positive market trends led to silver rates rising during the week.
    • With the US dollar losing against other apex currencies, prices rose to Rs.41,400 per kg on the 2nd.
    • Strong demand from industrial units and coin makers on the back of firm market cues led to silver rate in Madurai remaining untouched at Rs.41,600 per kg on the 3rd and the 4th.

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

    • The week began with silver trading at Rs.41,700 per kg on the 5th following an increase in industrial offtake for the metal at the domestic level.
    • Silver rate in Madurai plunged to Rs.41,600 per kg on the 6th before recovering to Rs.41,900 per kg on the 7th as the dollar weakened amid the poorly-performing equities market. This was also the highest recorded monthly figure in Madurai.
    • With the US dollar regaining lost ground over the next few days, demand for the metal declined considerably. This led to silver being priced at Rs.41,300 per kg on the 9th.
    • With tensions rising between the US and China following the newly imposed prohibitive US tariffs, demand for safe-haven assets rose.
    • This led to silver price in Madurai rising to Rs.41,600 per kg on the 11th with steady investor demand brought about by positive global cues.

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

    • The week saw silver rate in Madurai dropping on poor demand coupled with weak market trends at the domestic level.
    • Silver price in Madurai were recorded holding at Rs.41,600 per kg on the 12th when the week began amid firm overseas trends.
    • Rates rose to Rs.41,700 per kg on the 14th after the dollar lost ground amid market uncertainties brought about by the surprise firing of Rex Tillerson, the US Secretary of State by the White House.
    • However, with the stocks and equities performing higher than expected over the next couple of days, demand for silver plunged in the international trade.
    • The white metal was recorded trading at Rs.41,300 per kg on the 16th amid the weak trend overseas.
    • Trading concluded for the week with the industrial metal trading at Rs.41,100 per kg on the 18th with poor industrial demand for the metal.

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

    • The fourth week opened with silver priced at Rs.41,000 per gram - the lowest recorded monthly figure - on the 19th with demand taking a hit against the strong US dollar and equities.
    • Silver rate in Madurai rebounded to Rs.41,200 per kg on the 20th before dropping again to Rs.41,000 per kg the next day as the dollar held onto its gains at the international level.
    • However, an increase in safe-haven demand brought about by the US geopolitical tensions led to rates improving to Rs.41,500 per kg on the 22nd.
    • The week came to an end with silver price in Madurai holding steady at Rs.41,600 per kg on the 18th with steady demand from industrial units and coin manufacturers.

    March 2018- Week 5 (26th - 31st):

    • Trading began for the last week with silver trading at Rs.41,600 per kg on the 26th with steady domestic demand from the previous week’s trends.
    • Silver rate in Madurai rose to Rs.41,800 per kg on the 27th with the US-China trade war fears pushing global investor demand higher for the metal.
    • However, with the dollar regaining lost ground over the next few days, demand for the metal receded. This led to silver being priced at Rs.41,400 per kg on the 29th.
    • Trading closed for the month with the industrial metal trading firm at Rs.41,400 per kg on the 31st.
    • Silver price in Madurai rose by 0.72% due to rising geopolitical tensions coupled with strong market trends that pushed demand higher for the metal.

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

    Parameters Silver price (per kg)
    Silver Rate on 1st February 2018 Rs.42,600 per kg
    Silver Rate on 28th February 2018 Rs.41,200 per kg
    Highest Rate in February Rs.42,600 per kg on 1 and 2 February
    Lowest Rate in February Rs.40,600 per gram on 10 and 11 February
    Overall Monthly Performance Decline
    Percentage Change -3.28%

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

    • The month began in Madurai 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, prices 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 Madurai plunged to Rs.41,700 per kg on the 3rd.
    • The week came to an end with silver price in Madurai 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):

    • When trading commenced for the second week, the white metal was priced relatively lower at Rs.41,500 per kg on the 5th after a rise in the US dollar value led to a decline in domestic demand for the metal.
    • The next day, however, saw silver price in Madurai surging to Rs.41,900 per kg after the US dollar index lost against a basket of other apex currencies in the global market.
    • With the US dollar regaining lost ground over the next couple of days, the industrial metal prices dropped to Rs.41,500 per g on the 7th before plummeting further to Rs.40,800 per kg on the 8th.
    • On the 9th, silver rate in Madurai rose to Rs.41,000 per kg before plunging to its lowest recorded monthly figure of Rs.40,600 per kg on the 10th following a decline in demand amid the strong US dollar and firmer equities market.
    • The week concluded with prices holding steady at Rs.40,600 per kg on the 11th with poor domestic demand amid weak global cues.

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

    • The third week began in Madurai with the white metal priced at Rs.40,900 per kg on the 12th ahead of the US inflation data later during the week.
    • With markets remaining cautious ahead of the data, the US dollar plunged. This led to silver price in Madurai rising to Rs.41,300 per kg on the 13th.
    • The weakened US dollar index coupled with the poorly performing equities markets resulted in silver rates surging to Rs.41,400 per kg on the 14th.
    • Strong demand from industries and coin makers coupled with positive trends overseas led to silver prices rising to Rs. 41,800 per kg on the 15th.
    • However, with the US dollar and equities recovering from its previous losses, silver rate in Madurai dropped slightly to Rs.41,700 per kg on the 16th.
    • The poor inflation data resulted in investors and traders leading on to safe-haven assets such as silver and gold. This resulted in silver prices holding steady at Rs.41,700 per kg for the remainder of the week.

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

    • Trading commenced for the fourth week with silver rates holding at Rs.41,600 per kg on the 19th amid the strengthening US dollar index.
    • Strong dollar performances coupled with firmer equities in the international market resulted in silver being priced at Rs.41,200 per kg until the 21st.
    • However, an incline in demand from local industrial units and coin manufacturers amid positive overseas trends led to silver rate in Madurai rising to Rs.41,400 per kg on the 22nd.
    • The 23rd saw silver price in Madurai rising further to Rs.41,600 per kg before plunging to Rs.41,500 per kg on the 24th after the US dollar regained lost ground from the previous rally of losses.
    • When trading concluded for the week, the industrial metal was priced at Rs.41,500 per kg on the 25th with steady demand from industries and coin makers amid firm global cues.

    February 2018 - Week 5 (26th - 28th):

    • The last week began in Madurai with the white metal trading at Rs.41,600 per kg on the 26th after the US dollar weakened ahead of the new Federal Reserve Chairman’s first congressional speech to the nation during the week.
    • With markets eyeing on Fed chief Jerome Powell’s testimony for clues on the pace of interest rates hikes during the year, silver rate in Madurai rose to Rs.41,700 per kg on the 27th.
    • The US dollar, however, strengthened after Jerome Powell vowed to save the country’s economy from deteriorating while sticking to the planned Fed rate hikes. This led to silver closing at Rs.41,200 per kg on the last day.
    • Madurai registered a loss of 3.28% in silver trade during the course of the month.

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

    Parameters Silver price (per kg)
    Silver rate on 1st January 2018 Rs.38,925 per kg
    Silver rate on 31st January 2018 Rs.42,200 per kg
    Highest Rate in January Rs.42,700 per kg on 29 January
    Lowest Rate in January Rs.38,925 per kg on 1, 2 and 10 January
    Overall Monthly Performance Incline
    Percentage Change 8.41%

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

    • When trading began in Madurai, silver was recorded trading at Rs.38,925 per kg on the 1st This was also the lowest recorded monthly figure in the city.
    • Thanks to steady demand from local coin makers and industrial units, prices remained untouched at Rs.38,925 per kg the next day.
    • Rates surged to Rs.39,110 per kg on the 3rd before plunging to Rs.38,995 per kg on the 4th after demand for the metal declined amid the strengthening US dollar.
    • However, demand picked up with the dollar index losing against a basket of other emerging currencies towards the end of the week.
    • Silver price in Madurai rose to Rs.39,265 per kg on the 5th which rose further to Rs.39,355 per kg on the 6th following an increase in demand amid the positive trends overseas.
    • Steady demand coupled with strong global cues resulted in silver rate in Madurai remaining untouched at Rs.39,355 per kg for the remainder of the week.

    January 2018 - Week 2 (8th - 14th):

    • Silver price in Madurai were recorded holding steady at Rs.39,355 per kg on the 8th when the week began amid positive overseas trends.
    • However, with the US dollar gaining against other apex currencies in the global markets, demand for the metal declined. This led to the metal being priced Rs.39,115 per kg and Rs.38,925 per kg on the 9th and the 10th respectively.
    • However, with demand picking up after an increase in offtake by industries and coin makers, prices surged to Rs.39,110 per kg on the 11th.
    • Strong global cues coupled with steady domestic demand resulted in the white metal prices remaining untouched at Rs.39,110 per kg the following day.
    • Silver rate in Madurai rose to Rs.39,265 per kg on the 13th which surged further to Rs.39,355 per kg on the 14th due to a decline in the US dollar index value in the international markets.

    January 2018 - Week 3 (15th -21st):

    • The third week saw silver price rising initially before plummeting on poor global cues towards the end of the week.
    • Silver was recorded trading relatively higher at Rs.39,680 per kg on the 15th as demand for the metal picked up amid the weakening equities and the US greenback.
    • Silver Price in Madurai dropped slightly to Rs.39,670 per kg on the 16th and continued to remain unchanged at the same rate the next day.
    • The US dollar, however, regained lost ground and pushed demand lower for the industrial metal. This led to silver being priced at Rs.39,265 per kg on the 18th.
    • Though the white metal prices dropped to Rs.39,115 per kg on the 19th, silver rate in Madurai rebounded to Rs.39,265 per kg on the 20th following an uncharacteristic increase in demand in the domestic markets.
    • Steady demand from coin manufacturers and industries despite the weak global cues resulted in the industrial metal being priced at Rs.39,265 per kg for the rest of the week.

    January 2018 - Week 4 (22nd -28th):

    • Strong safe-haven demand compounded by positive global cues resulted in silver rates rising significantly during the week.
    • When trading began for the week, the industrial metal was priced at Rs.39,265 per kg on the 22nd.
    • Steady domestic demand from local coin makers and industrial units amid the firm trends overseas resulted in the metal prices holding steady at Rs.39,265 per kg until the 24th.
    • The 25th, however, saw silver rate in Madurai surging to Rs.40,285 per kg on the 25th after investors and traders speculating over possible US government shutdown concerns ramped up safe-haven purchases.
    • Thanks to strong global demand amid the strong global cues, Silver price in Madurai remained untouched at Rs.40,285 per kg until the end of the week.

    January 2018 - Week 5 (29th - 31st):

    • The final week commenced with silver opening on a stronger note with the metal priced at Rs.42,700 per kg - the highest recorded monthly figure- on the 29th with an increased domestic demand brought about the positive trends overseas.
    • However, with markets eyeing on the two-day monetary policy meeting at the US Federal Reserve, the US dollar surged.
    • The strengthening greenback coupled with firmer equities resulted in silver rate in Madurai holding steady at Rs.42,200 per kg on the 30th and the 31st.
    • Silver prices in Madurai rose by 8.41% owing to the strong trends that pushed rates higher during the month.

    Also Check Silver Price in NearBy Cities of Madurai

    Read more on Silver

    Silver Rate - Sitemap

    Silver Rate In Metro Cities
    Silver Rate In Other Capitals
    Silver Rate In Other Major Cities
    Silver Rate In States

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.