Silver Rate in Madurai

  • Today's Silver Rate in Madurai( 15 Aug 2020 )

    ₹ 66.95
    Today's Silver Rate per gram

    Compare Silver Rate In Madurai (Today & Yesterday)

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

    Silver Price In Madurai For Last 10 Days

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

    Weekly & Monthly Graph of Silver Rate in Madurai

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

    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 July 2020 (rates per kg)

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

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

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

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

    Parameters Silver Price (per kg)
    May 1 Rate Rs.42,530 per kg
    May 31 Rate Rs.50,100 per kg
    Highest Rate in May Rs.51,400 per kg on 25 May
    Lowest Rate in May Rs.41,010 per kg on 2 May
    Overall Monthly Performance Incline
    Percentage Change 17.79%
    • In Madurai, silver opened the month of May at Rs.42,530 per kg. When compared to what was charged on the final day of the previous month, the rates were up by Rs.1,010 for every kilogram. The metal recorded its lowest price for the month on 2nd May after the rates declined as the value of dollar increased in the international market. A kilo of the precious metal was retailed for Rs.41,010 in the city on the mentioned date.
    • Over the month, the rates of silver witnessed a lot of fluctuations in the city. This was accounted to tensions between the United States of America and China, increase and decrease of risk appetite and investors shifting to the equities market. The white metal closed the second and third week of May at Rs.42,960 and Rs.48,200 respectively.
    • Amid the fluctuations, the precious metal recorded its highest price for the month on 25th May as the rates were hiked continuously since the end of the third week. A kilogram of silver was retailed for Rs.51,400 in the city. Silver closed the month at Rs.50,100 per kg with the overall performance of the metal witnessing an inclining trend. The percentage change recorded in the rates stood at 17.79% in Madurai.

    Also Check Silver Price in NearBy Cities of Madurai

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

    Parameters Silver Price (per kg)
    April 1 Rate Rs.40,500 per kg
    April 30 Rate Rs.41,520 per kg
    Highest Rate in April Rs.42,710 per kg on 21 April
    Lowest Rate in April Rs.40,360 per kg on 6 April
    Overall Monthly Performance Incline
    Percentage Change 2.51%
    • Silver opened the month of April at Rs.40,500 per kg in Madurai. Compared to the closing price of the previous month, there was no change in the rates of the precious metal in the city.
    • The white metal recorded its lowest price for the month on 6th April after the rates slipped because of an economic slowdown due to the spread of Covid-19 cases across many countries. A kilo of silver cost Rs.40,360 in the city following the change in the price.
    • The rate of the precious metal saw a lot of fluctuations over the month due to a variety of reasons. Amidst these fluctuations, silver recorded its highest price for the month on 21st April with a kilo costing Rs.42,710 as investors sought refuge in safe-haven assets as U.S. crude prices slipped considerably.
    • In Madurai, silver closed the month at Rs.41,520 per kg with the overall performance witnessing an incline in the prices. The percentage change recorded was 2.51% in the city.

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

    Parameters Silver Price (per kg)
    March 1 Rate Rs.47,400 per kg
    March 31 Rate Rs.40,500 per kg
    Highest Rate in March Rs.50,700 per kg on 6 March
    Lowest Rate in March Rs.37,800 per kg on 19 March
    Overall Monthly Performance Decline
    Percentage Change -14.55%
    • Silver rates in Madurai opened at Rs.47,400 on the first day of March. The opening price on March 1 remained unchanged as compared to the closing price on the last day of the month of February. However, the gold rates increased after the U.S Federal Reserve cut its interest rate.
    • The white metal recorded its highest numbers on 6th March at Rs.50,700 per kg after Federal Reserve cut the rate of interest.
    • Covid-19 continued to wreak havoc on the global markets after World Health Organisation declared it as a global pandemic. This led to the prices of silver in Madurai drop considerably. Silver recorded its lowest numbers on 19th March at Rs.37,800 as the fear of Coronavirus forced the investors to sell their shares.
    • US Federal Reserve announced that they will be taking certain steps in order to counter the deadly effect of Covid-19 on the global markets, which brought stability to the price of silver. The silver prices closed at Rs.40,500 on 31 March. The rates remained constant over the last week of March. The price of silver overall declined by 14.55%.

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

    Parameters Silver Price (per kg)
    February 1 Rate Rs.50,300 per kg
    February 29 Rate Rs.47,400 per kg
    Highest Rate in February Rs.52,900 per kg on 24 February
    Lowest Rate in February Rs.47,400 per kg on 29 February
    Overall Monthly Performance Decline
    Percentage Change -5.76%
    • On 1 February 2020, the price of silver in Madurai increased by Rs.100 when compared to the last day of January. After remaining stagnant over the first three days, the price of silver fluctuated from 4 February 2020 to 16 February 2020.
    • From 17 February 2020 to 24 February 2020, the price of silver in Madurai continuously increased. Silver hit its highest rate during this period and was priced at Rs.52,900 on 24 February. The coronavirus outbreak outside China ensured that the prices increased. The World Health Organisation also declared it as a global emergency.
    • From 24 February 2020, the price of silver decreased until the end of the month. On 29 February 2020, the price of silver hit its lowest rate for the month at Rs.47,400 per kg.
    • Overall, silver saw a decline of 5.76% in its prices for the month.

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

    Parameters Silver Price (per kg)
    January 1 Rate Rs.50,300 per kg
    January 31 Rate Rs.50,200 per kg
    Highest Rate in January Rs.52,600 per kg on 8 January
    Lowest Rate in January Rs.49,200 per kg on 30 January
    Overall Monthly Performance Decline
    Percentage Change -0.19%
    • Various geopolitical factors played a role in the trend of silver rate in January. Opening at Rs.50,300 per kg, the metal’s prices were at an inclining trend in the first week of the month. This was majorly due to the persisting tensions in the Middle East between Iran and the United States of America.
    • However, in the second week of the month, as the tensions faded, the dollar got a strong boost with the interim Phase 1 of the trade deal being signed by China and the United States of America. On 15 January, the price of the metal was trending at Rs.50,000 per kg.
    • As the second half of the month started, the Coronavirus outbreak resulted in the boosting of silver prices all over the world. On 21 January, the price of the metal was Rs.51,000 per kg.
    • However, overall, January was a poor month for the traders investing in gold as it showed an overall negative trend throughout the month. Various factors such as the signing of the trade deal, positive economic data from the U.S. and China boosted the dollar. Silver prices ended the month at Rs.50,200 per kg with an overall decline of 0.19%.

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    News About Silver Rate in Madurai

    • Gold prices surge by 1% to hit Rs.48,107 per 10 grams and Silver rates increased by 2%

      The price of gold increased by 1% on Monday due to increased geopolitical tensions between China and India. Along with this, the rising COVID-19 cases all over the world and the struggling economy supported gold prices.

      Silver prices increased by 2% to Rs.49,061 per kg and closed at Rs.48,825 per kg. Gold and silver increased by 2.6% and 0.8% respectively with the nature of high-risk assets showing volatility in the market. Gold prices increased on the increased risk sentiment with a record rise in COVID-19 cases all over the world. With the United States Federal Reserve hinted at slower economic growth, gold prices increased.

      Spot gold in London traded at a positive note in the market at $1,747 per ounce and gold futures at Multi Commodity Exchange for August delivery traded higher by Rs.19 at RS.47,956 per 10 grams. The rupee also appreciated around 17 paise to 76 against the dollar. On the Multi Commodity Exchange, gold futures, delivery in August inclined by 0.7% to Rs.48,289 per 10 grams.

      The silver futures contract for delivery in July increased by 1.2% on the Multi Commodity Exchange to Rs.49,190 per kg.

      25 June 2020

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