• Silver Rate in Salem

    Daily Silver Rates
    Date Silver (1 gram) Bar Silver (1 Kg)
    26 May 2018 ₹ 43.6 ₹ 43,600
    25 May 2018 ₹ 43.8 ₹ 43,800
    24 May 2018 ₹ 43.3 ₹ 43,300
    23 May 2018 ₹ 43.5 ₹ 43,500
    22 May 2018 ₹ 43.2 ₹ 43,200
    21 May 2018 ₹ 43.1 ₹ 43,100
    20 May 2018 ₹ 43.1 ₹ 43,100
    18 May 2018 ₹ 43 ₹ 43,000
    17 May 2018 ₹ 43.2 ₹ 43,200
    16 May 2018 ₹ 43 ₹ 43,000

    *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 Salem

    Silver has a high intrinsic value and as such is a sought after metal. Not only do consumers buy silver in its various forms such as jewellery or ornaments but also view silver to be a safer form of investment. Salem being one of the largest cities in Chennai, has its roots set deeply around the manufacture and sale of silver ornaments. Hence it comes as no surprise that Silver is a sought after commodity in Salem. This thin precious metal is an effective hedge against inflation and is easily accessible. Small time investors prefer silver over their yellow counterpart as it is a cheaper solution. The uses of silver are varied ranging from embroidery in silk sarees that are a speciality of the region to items used in religious ceremonies. In fact, most auspicious events are marked with the use of silver lamps or plates or other such ornaments.

    Trend of Silver Rate in Salem 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%

    Trend of Silver Rate in Salem 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%

    Trend of Silver Rate in Salem 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):

    • When trading began in Salem, the white metal was priced at Rs.42,600 per kg on the 1st with the dollar losing its sheen ahead of the US employment data later during the week. This was also the highest recorded monthly figure in the city.
    • Silver prices in Salem remained unaltered at Rs.42,600 per kg the next day with steady demand for the metal amid strong global cues.
    • However, the dollar rose against other apex currencies after the US jobs data proved to be stronger than expected. This led to silver rate in Salem dropping to Rs.41,700 per gram on the 3rd.
    • Steady industrial demand coupled with firm trends overseas led to silver rates holding steady at Rs.41,700 per kg for the rest of the week.

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

    • The second week began with silver trading relatively lower at Rs.41,500 per kg on the 5th amid the strengthening US dollar and equities market.
    • The dollar, however, lost against a basket of other emerging currencies and led to silver prices rising to Rs.41,900 per kg on the 6th.
    • Silver rate in Salem dropped to Rs.41,500 per kg on the 7th before plunging further to Rs.40,800 per kg on the 8th after the US dollar and equities regained lost ground in the international market.
    • The 9th witnessed silver prices surging to Rs.41,000 per kg which dropped again to Rs.40,600 per kg - lowest recorded monthly figure - on the 10th after the rising US dollar led to a decline in domestic demand for the metal.
    • The week concluded with silver price in Salem holding firm at Rs.40,600 per kg on the 11th amid global cues.

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

    • Silver was recorded trading at Rs.40,900 per kg on the 12th when the week began in Salem.
    • With the US inflation data to be announced later during the week, investors and traders refrained themselves from making purchases. This resulted in the US dollar weakening and silver was priced at Rs.41,300 per kg on the 13th.
    • With the US dollar index losing against other major currencies in the world markets, demand for the metal surged. This led to silver rate in Salem rising to Rs.41,400 per kg on the 14th which rose further to Rs.41,800 per kg on the 15th amid positive overseas trends.
    • On the 16th, silver price in Salem stabilised at Rs.41,700 per kg with steady demand for the metal and the US dollar index nearing its lowest level in three years.
    • Strong safe-haven demand from investors in order to hedge against inflation concerns resulted in silver prices holding steady at Rs.41,700 per kg for the remainder of the week.

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

    • The fourth week began with the white metal priced relatively lower at Rs.41,600 per kg on the 19th with the US dollar recovering from the previous days’ losses.
    • The strengthening US dollar and equities market resulted in silver price in Salem dropping further to Rs.41,200 per kg on the 20th.
    • Silver rate in Salem remained untouched at Rs.41,200 per kg on the 21st before rising to Rs.41,400 per kg on the 22nd following an increase in demand from local industrial units and coin makers.
    • Strong industrial demand coupled with firm trends overseas resulted in rates rising to Rs.41,600 per kg on the 23rd.
    • However, a slight decline in demand amid the rising US dollar led to silver prices dropping to Rs.41,500 per kg on the 24th.
    • The week came to an end with the white metal prices holding steady at Rs.41,500 per kg on the 25th amid firm global cues.

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

    • The final week of trading in Salem began with the industrial metal priced at Rs.41,600 per kg on the 26th after investors and traders remained cautious ahead of the Federal Reserve Chairman Jerome Powell’s first congressional testimony.
    • Silver rate in Salem rose to Rs.41,700 per kg on the 27th with the US dollar losing against a basket of other emerging currencies in the international markets.
    • The Fed Chairman’s promise to save the country from an economic crisis while sticking to the current plan of interest rate hikes resulted in the US dollar strengthening. This led to silver being priced at Rs.41,200 per kg on the 31st.
    • Silver trade in Salem recorded a decline of 3.28% in silver prices during the course of the month.

    Trend of Silver Rate in Salem 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 Salem, 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.
    • Silver rate in Salem 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 Salem 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 rates remaining untouched at Rs.39,355 per kg for the remainder of the week.

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

    • Silver prices 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, silver price in Salem 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 rates in Salem 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 prices 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 Salem 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 Salem 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 Salem 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 Salem 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 Salem holding steady at Rs.42,200 per kg on the 30th and the 31st.
    • Silver price in Salem rose by 8.41% owing to the strong trends that pushed rates higher during the month.

    Trend of Silver Rate in Salem for December 2017 (rates per kg)

    Parameters Silver price (per kg)
    Silver Rate on 1st December 2017 Rs.38,230 per kg
    Silver Rate on 31st December 2017 Rs.39,265 per kg
    Highest Rate in December Rs.39,365 per kg on 30 and 31 December
    Lowest Rate in December Rs.36,545 per kg on 13 December
    Overall Monthly Performance Incline
    Percentage Change 2.70%

    December 2017 - Week 1 (1st - 10th)

    • When trading started for December, silver was priced at Rs.38,230 per kg
    • Silver prices in Salem dropped to Rs.38,120 per kg on the 2nd before dropping again to Rs.37,965 per kg on the 4th of December.
    • There was consistent price drops this week, which was brought about by a weak US dollar.
    • The 5th saw silver rate in Salem drop to Rs.37,865 per kg, which dropped to Rs.37,600 per kg the next day.
    • As demand continued to remain on the weaker side, silver rates fell again, this time to Rs.37,180 per kg on the 7th of the month.
    • As local demand dropped further, silver rates hit Rs.36,715 per kg on the 8th of the month.
    • Demand remained steady and silver rates in Salem continued at the same rate till the end of the week.

    December 2017 - Week 2 (11th - 17th)

    • There was a brief rise in rates on the 11th with the white metal trading at Rs.36,920 per kg.
    • The incline, however, was short lived and prices dropped to Rs.36,620 per kg the next day before dropping to a monthly low figure of Rs.36,545 per kg.
    • A downturn in US dollar fortunes pushed demand up and silver traded at Rs.37,295 per kg on the 14th. This was mostly due to an increased off take from local jewellers and industrial units.
    • The high demand subsided and silver rate in Salem fell to Rs.37,235 per kg on the 15th before dropping again to Rs.36,920 per kg the subsequent day.
    • On the last day of this week, i.e., silver rates surged back up to Rs.37,180 per kg as fluctuations in the US market kept precious metal trading on a relative high.

    December 2017 - Week 3 (18th - 24th)

    • Silver rates fluctuated during this week with a few ups and downs to be witnessed over the course of the seven days.
    • On the 18th of December, the white metal was priced at Rs.37,600 per kg. This rose to Rs.38,365 per kg on the 19th before continuing at this rate till the closing hours of the 20th.
    • The 21st, however, saw silver price in Salem drop to Rs.37,600 per kg as sales took a hit owing to poor demand locally.
    • Silver prices in Salem remained at Rs.37,600 per kg on the 22nd before rising slightly to Rs.37,865 per kg.
    • When the week ended, the white metal was still seen trading at Rs.37,865 per kg.

    December 2017 - Week 4 (25 th- 31st)

    • The final week of December and 2017 saw silver prices start on a relative low before rising to month-high figures towards the end.
    • When trading commenced for the 25th of December, the white metal was priced at Rs.38,395 per kg. Due to a weak demand, rates dropped to Rs.38,005 per kg the next day.
    • However, a renewed year-end demand brought about by positive global cues pushed silver rates up. The white metal traded at Rs.38,455 per kg on the 27th of December.
    • Due to a weak US dollar performance, silver prices in Salem went up to Rs.38,815 per kg on the 28th of the month.
    • The 29th saw silver price in Salem incline as well to Rs.38,925 per kg before rising to Rs.39,265 per kg the next day.
    • Overall, silver rates inclined by 2.70% this month, thanks to positive local trading cues.

    Trend of Silver Rate in Salem for November 2017 (rates per kg)

    Parameters Silver price (per kg)
    Silver rate on 1st November 2017 Rs.39,530 per kg
    Silver rate on 30th November 2017 Rs.38,460 per kg
    Highest Rate in November 2017 Rs.40,520 per kg on 18 and 19 November
    Lowest Rate in November 2017 Rs.38,460 per kg on 30 November
    Overall Monthly Performance Decline
    Percentage Change 2.70%

    November 2017 - Week 1 (1st - 5th)

    • When the month began in Salem, silver was priced at Rs.39,530 per kg.
    • Rates fluctuated considerably this month due to uneven demand in global circles, which in turn affected the domestic demand.
    • Due to a rise brought about by festive season demand, silver rates in Salem rose to Rs.39,680 per kg on the 2nd and went up again to Rs.39,950 per kg on the 3rd of the month.
    • Prices, however, dropped on the 4th for the metal to trade at Rs.39,355 per kg due to a slowdown in demand.
    • When the week ended, the white metal was still trading at Rs.39,355 per kg.

    November 2017 - Week 2 (6th - 12th)

    • Overnight trading cues led to silver opening at Rs.39,365 per kg on the 6th of November.
    • On the 7th, silver price in Salem surged to Rs.39,970 per kg as the US dollar plunged in its valuation, and the bullion industry took full advantage of it.
    • Prices went up again on the 8th, this time to trade at Rs.40,040 per kg on the 8th and continued at this rate till the closing hours of the 9th.
    • Demand dropped slightly as the US dollar made a recovery. The white metal traded at Rs.39,970 per kg on the 10th and remained unchanged for the remainder of the week.

    November 2017 - Week 3 (13th - 19th)

    • The third week of November saw silver rates increase initially as uncertainty around the middle east contributed to a rise in demand.
    • Silver opened at a relatively subdued price of Rs.39,870 per kg on the 13th of November before surging to Rs.40,040 per kg on the 14th.
    • Prices went up again on the 15th for the white metal to trade at Rs.40,240 per kg as a strained British economy weighed in on bullion sales.
    • The 16th saw silver rate in Salem drop back down to Rs.40,040 per kg as demand was subdued after the previous day’s sales.
    • Silver rates remained at Rs.40,040 per kg on the 17th before surging to Rs.40,520 per kg on the 18th as the strained relationship between the UK and the European Union took centre stage.
    • The week came to a close with the white metal still trading at Rs.40,520 per kg as demand from local circles in Salem remained steady.

    November 2017 - Week 4 (20th - 26th)

    • The fourth week of the month saw silver prices drop gradually due to steadying markets.
    • When trade exchanges opened on the 20th, silver price in Salem had dropped to Rs.39,780 per kg. Prices continued at the same rate on the 21st before increasing to Rs.39,950 per kg on the 23rd as local demand improved briefly.
    • Silver rate in Salem dropped to Rs.39,780 per kg on the 24th of the month and continued at the same rate for the remaining days of the week.

    November 2017 - Week 5 (27th - 30th)

    • Silver price in Salem dropped on all four days of this week as demand continued to weaken as days passed.
    • On the 27th, the white metal traded at Rs.39,780 per kg, before going down to Rs.39,530 per kg on the 28th of November.
    • The 29th saw silver rate in Salem drop again - this time to Rs.39,110 per kg.
    • When the week ended, silver rates had gone down by as much as Rs.650 per kg to close at Rs.38,460 per kg.
    Parameters Silver price (per kg)
    Silver rate on 1st October 2017 Rs.39,530 per kg
    Silver Rate on 31st October 2017 Rs.39,435 per kg
    Highest Rate in September Rs.40,670 per kg on 16 October
    Lowest Rate in September Rs.39,110 per kg on 5 October
    Overall Monthly Performance Decline
    Percentage Change -0.24%

    October 2017 - Week 1 (1 to 8):

    • Silver opened the month trading at Rs.39,530 per kg on 1 October as demand was muted following poor industrial demand from both overseas as well as domestic markets.
    • The renewal of geo-political tensions between the United States and North Korea lead to prices falling steadily as the dollar rate strengthened on strong jobs data.
    • Silver price in Salem dropped to Rs.39,110 per kg on 5 October as the festive season failed to boost flagging orders from Asian powerhouses like China and South Korea.
    • There was a marginal rise in price towards the middle of the week with silver trading at Rs.39,680 per kg on 7 October.
    • As the political situation in the United States led to market uncertainty, demand for bullion as a safe-haven asset rose and Silver rate in Salem also gradually increased.
    • Silver traded at Rs.39,680 per kg on 8 October as the week ended due to steady demand.

    October 2017 - Week 2 (9 to 15):

    • Silver price in Salem rose in the second week, with the metal priced at Rs.39,950 per kg on 9 October following a marginal rise in price over the weekend.
    • Tensions with North Korea led to market turbulence in the United States but the dollar rate was unruffled, which resulted in silver rate in Salem remaining static for the first few days.
    • Prices were on the increase as the week progressed, with the white metal trading at Rs.40,060 per kg on 10 October on account of favourable market conditions.
    • SIlver continued to rise as the week drew to a close, trading at Rs.40,390 per kg from 12-15 October due to relative stability of demand on account of unstable equity markets.

    October 2017 - Week 3 (16 to 22):

    • Silver traded at Rs.40,440 per kg on 16 October, with the industrial metal’s price staying constant due to steady demand.
    • Minor fluctuations in price due to demand vagaries were recorded as the week began, but there were no significant changes in Silver price in Salem.
    • The onset of Diwali led to higher demand for bullion, though silver rate in Salem did not see too much upward movement.
    • Silver was priced at Rs.40,060 per kg on 18 October with prices dropping due to stable markets and stagnant demand from overseas markets in Asia.
    • Prices were quite unstable for the rest of the week, with silver rising momentarily to trade at Rs.40,285 per kg on 20 October.
    • Demand fell as silver ended the week priced at Rs.40,060 per kg on 21 & 22 October.

    October 2017 - Week 4 & Week 5 (23 to 31):

    • The last week of October saw a fall in demand for silver due to poor industrial demand.
    • Silver was priced at Rs.40,040 per kg on 23 October, with the price falling to Rs.39,780 per kg on 25 October due to a gradual decline in demand.
    • Silver Price in Salem continued to fall as silver traded at Rs.39,435 per kg on 27 October after sustained uncertainty over the nuclear threat from North Korea.
    • Local demand continued to be poor after the end of Diwali, which led to a further drop in demand for the precious metal.
    • Prices fell to Rs.39,115 per kg on 29 & 30 October before ending the month at Rs. Rs.39,435 per kg on 31 October and registering a drop in value of 0.24% over the course of the month.
    Parameters Silver price (per kg)
    Silver Rate on 1st August Rs.38,995 per kg
    Silver Rate on 31st August Rs.40,060 per kg
    Highest Rate in August Rs.40,190 per kg on 30 August
    Lowest Rate in August Rs.37,235 per kg on 5 & 6 August
    Overall Monthly Performance Incline
    Percentage Change 2.73%

    August 2017 - Week 1 (1st - 6th)

    • Silver opened on a relatively improved rate of Rs.38,995 per kg on the 1st of August.
    • But, due to a poor local demand owing to subdued global cues, silver rates dropped to Rs.38,230 per kg on the 2nd of August.
    • Silver price in Salem fell on the third to Rs.37,965 per kg as demand failed to pick up.
    • The 4th saw silver rates rise briefly to Rs.38,455 per kg as demand from jewellers increased, who scaled their purchases to meet retailers’ demand.
    • On the 5th, silver rate in Salem fell back to Rs.37,235 per kg as demand declined after the previous day’s trading.
    • The week came to an end with the metal still trading at Rs.37,235 per kg.

    August 2017 - Week 2 (7th - 13th)

    • Silver rate in Salem had improved slightly when the second week began, with the metal being purchased at Rs.37,295 per kg.
    • Demand picked up gradually, which led prices up to Rs.38,345 per kg on the 8th and then to Rs.38,455 per kg on the 9th.
    • The 10th witnessed one of the biggest price jumps - to the tune of Rs.770 - for the white metal to sell at Rs.39,115 per kg. This rapid incline in price was brought about by a burgeoning demand brought about by the latest stand-off between North Korea and the United States.
    • Rates went up again on the 11th to Rs.39,670 per kg as the US markets crashed, which consequently pushed the demand up.
    • With trading remaining steady, silver price in Salem was holding at Rs.39,670 per kg on the 12th and the 13th of August.

    August 2017 - Week 3 (14 - 20):

    • This week started off on a low, with silver selling at Rs.39,435 per kg.
    • Prices were the same on the 15th before falling to Rs.38,640 per kg on the 16th as domestic demand seemed to stagnate amid weak global cues.
    • The 17th and 18th, however, saw silver rate in Salem increase as local investors pushed demand up. Rates were recorded at Rs.39,355 per kg and Rs.39,780 per kg on these two days respectively.
    • On the 19th, rates dropped to Rs.39,115 per kg as there was strong indication that the US dollar is steadily bouncing back after a period of meek performance.
    • Thanks to demand remaining steady in the wake of rallying dollar, silver rates remained at Rs.39,115 per kg when the week ended on the 20th of August.

    August 2017 - Week 4 (21st - 27th)

    • Silver demand was quite weak during the initial days of this week as US dollar was still on its path of improvement.
    • When the week began, silver was trading at Rs.39,115 per kg. Rates were the same on the 22nd due to steady demand for the metal.
    • On the 23rd, silver price in Salem increased to Rs.39,265 per kg as news about a weak US economic data pushed demand up.
    • The same trend followed on the 24th as well, leading to the metal selling at Rs.39,355 per kg.
    • However, as demand reached saturation points, prices fell to Rs.38,995 per kg on the 25th and continued at this rate till the closing hours of the week.

    August 2017 - Week 5 (28th - 31st)

    • The final week of August saw silver prices rise steadily as dollar reached considerable lows.
    • On the 28th, when the week commenced, the white metal was trading at Rs.39,435 per kg, which then surged to Rs.40,440 per kg on the 29th.
    • Silver price inSalem fell to Rs.40,190 per kg on the 30th as demand subsided.
    • The final day of August saw silver selling at Rs.40,060 per kg.
    • Silver rate in Salem inclined at a rate of 2.73% for this month, which was aided by a strong local demand and a weak dollar performance.
    Parameters Silver price (24 karat)
    July 1st Rate Rs.38,640 per kg
    July 31st Rate Rs.38,815 per kg
    Highest Rate in July Rs.38,815 per kg on 31 July
    Lowest Rate in July Rs.35,565 per kg on 10 July
    Overall Monthly Performance Incline
    Percentage Change 0.32%

    July 2017 - Week 1 ( 1st to 9th)

    • Silver opened at Rs.38,640 per kg in Salem when July began.
    • As industrial demand was stable and coin makers continued to buy the metal, silver prices remained stable on the 2nd and 3rd of July.
    • Silver prices succumbed to strong U.S dollar on the 4th when the prices for the white metal dropped to Rs.37,705 per kg.
    • After the US Independence Day frenzy simmered down, other key issues relating to Donald Trump administration came to the fore. This led to an increase in prices on the 5th to Rs.38,395 per kg.
    • Silver prices in Salem dropped on the 6th of the month to Rs.37,600 per kg as investors backed out of investments after a few days of continued buying.
    • Rates went down on the 7th to hit Rs.37,115 per kg and remained unchanged on the 8th and the 9th of the month.

    July 2017 - Week 2 (10th - 16th)

    • The 10th of July recorded the lowest silver prices in Salem of Rs.35,565 per kg, as local demand plummeted significantly.
    • Prices increased slightly on the 11th to reach Rs.36,035 per kg and went up again on the 12th to Rs.36,920 per kg.
    • The 13th maintained the day-on-day price improvement seen for the previous few day and the metal was selling at Rs.37,115 per kg.
    • Silver rates dipped to Rs.36,545 per kg on the 14th before bouncing back and trading at Rs.37,115 per kg on the 15th and the 16th of July.

    July 2017 - Week 3 (17th - 23th)

    • Due to overnight trading, silver prices had slightly increased to Rs.37,180 per kg when the third week of July began on the 17th.
    • Prices increased to Rs.38,395 per kg on the 18th before going down to Rs.37,600 per kg on the 19th, owing to high demand from domestic circles.
    • The next few days saw silver rates fall locally as demand fell.
    • When the third week of July ended, silver rates were recorded at Rs.37,965 per kg.

    July 2017 - Week 4 (24th - 31st)

    • Silver rates fluctuated during the final week of July due to unstable demand.
    • On the 24th, the white metal was trading at Rs.38,275 per kg before falling to Rs.38,005 per kg on the 25th.
    • Rates fell again on the 26th to Rs.37,965 per kg before surging to Rs.38,640 per kg on the 27th of the month.
    • Prices fell and rose again before closing on a monthly high of Rs.38,815 per kg on the 31st of July.
    • Silver rate trend rose by 0.32% in Salem, thanks to a sustained demand from local businesses.
    Parameters Silver price
    June 1 Rate Rs.40,060 per kg
    June 30 Rate Rs.38,640 per kg
    Highest Rate in June Rs.40,890 per kg on 6 and 7 June
    Lowest Rate in June Rs.38,455 per kg on 21 June
    Overall Monthly Performance Decline
    Percentage Change -3.54%

    June'17 - Week 1 (1st - 4th)

    • When silver trading commenced in Salem, the metal was priced at Rs.40,060 per kg, which went down to Rs.39,780 per kg on the 2nd of June.
    • The 3rd saw rate in silver increase to Rs.40,670 per kg and continue at the rate rate till the end of the week.
    • Demand for the metal seemed to be on a high, courtesy of some good global cues.

    June '17 - Week 2 (5th - 11th)

    • Demand remained on the ascent when week 2 began on the 5th, as the white metal was trading at Rs.42,715 per kg.
    • On the 6th and 7th, silver was trading at a monthly high rate of Rs.40,890 per kg - as dollar rate fell amidst administrative concerns regarding Donald Trump’s presidency.
    • However, prices fell to Rs.40,815 per kg on the 8th as demand fell considerably due to investors remained wary.
    • Rates fell further to Rs.40,060 per gram as a positive US jobs data led to precious metal prices tanking.
    • When the second week of June came to an end, silver was priced at Rs.40,060 per kg.

    June'17 - Week 3 (12th - 18th)

    • Due to weak cues and a strong stock market, silver prices started on a low of Rs.39,780 per kg on the 12th of June.
    • With demand showing little signs of improving, silver rates went down again to Rs.39,110 per kg on the 13th.
    • As there was a minute improvement in demand, the white metal’s prices went up to Rs.3,9115 per kg on the 14th before dropping down to Rs.38,995 per kg on the 16th.
    • Silver prices in Salem went further down on the 17th as the US dollar strengthened. Price went down to Rs.38,460 per kg on the 17th and traded at the same rate on the 18th as well.

    June '17 - Week 4 (19th - 25th)

    • When trading began on the 19th, silver prices had increased to Rs.38,815 per kg owing to an increased domestic demand.
    • The increase in rates seemed like a false dawn as silver rates fell to Rs.38,460 per kg on the 20th before hitting a monthly low figure of Rs.38,455 per kg on the 21st of June.
    • Rates went from Rs.38,640 per kg on the 23rd to Rs.38,925 per kg on the 24th and the 25th.

    June'17 - Week 5 (26th - 30th)

    • During the last week of June, silver was priced at Rs.38,815 per kg.
    • Rates fluctuated this week owing to unstable demand from the local consumers.
    • On the 27th, silver was trading at Rs.38,690 per kg before increasing to Rs.39,110 per kg on the 28th.
    • As demand took a hit, silver prices went down to Rs.38,640 per kg on the last day of the month.
    • Silver prices decline at a rate of 3.54% in June as a result of weak demand despite the dollar being on a relative low.
    May 1st Rate Rs.40,040 per kg
    May 31st Rate Rs.40,190 per kg
    Highest Rate in May Rs.40,440 per kg on 30th of May
    Lowest Rate in May Rs.37,800 per kg on the 9th of May
    Overall Performance Incline
    Percentage Change 0.37%

    May ’17 – Week 1 (1st – 7th)

    • The price of this metal on the first of May in Salem was Rs.40,040 per kg but thanks to variations in the rate of this metal, the price continued to vary quite a bit.
    • Due to Asian equities, the demand for silver as a safe-haven asset fell which in turn reduced the rate of silver. Additionally, variations in the value of the U.S. dollar resulted in silver rate fluctuations.
    • The value of the U.S. dollar gained against the yen resulting in a price drop with respect to silver.
    • On the 3rd of the month, silver was priced at Rs.38,925 per kg and reduced on the 4th to be priced at Rs.38,230 per kg.
    • Geopolitical factors and demand for silver from industrialists and coin makers had an impact on the price of silver with this metal trading at Rs.38,120 per kg on the 5th of May. However, the rate of silver reduced thereafter.
    • On the last two days of the first week of May in Salem, silver was priced at Rs.38,005 per kg which was the lowest at which this metal traded at, for the week.

    May ’17 – Week 2 (8th – 14th)

    • On the 8th of May, silver was priced at Rs.37,865 per kg which was quite low as compared to the price of silver noted during the previous week.
    • Emmanuel Macron’s win in the French Presidential elections had an impact on the price of this metal as the euro strengthened..
    • On May 9th, silver traded at Rs.37,800 per lg. However, a marginal increase was noted after that to trade at Rs.37,865 per kg on the 10th and 11th of May.
    • On the 12th of the month, silver was priced at Rs.38,005 per kg due to increased demand. However, throughout the week a number of variations were noted in the rate of silver.
    • Until the end of the week, silver continued to trade at Rs.38,005 per kg on account of steady demand.

    May ’17- Week 3 (15th – 21st)

    • An increase in demand coupled with a fall in the value of the U.S. dollar resulted in an increase in the price of silver. However, this increase was not steady and a few variations were noted in the rate of this metal.
    • On the 15th of May in Salem, silver was priced at Rs.38,230 per kg which was quite high as compared to the price noted during the previous week.
    • There was a slight rise in the rate of this metal on the 16th of the month, with this metal trading at Rs.38,640 per kg due to increased demand from industrialists.
    • A demand was noted for silver as the value of the U.S. Dollar reduced, resulting in a rise in the rate of silver.
    • Due to weak U.S. manufacturing data, the expectation of a rate hike by the U.S. Federal Reserve was quite low.
    • This metal traded at Rs.38,995 per kg on the 17th of May but reduced on the 18th to trade at Rs.39,355 per kg.
    • Due to a reduction in the demand for silver from coin makers, this metal traded at Rs.39,115 per kg on the 19th of May in Salem. This price of silver was noted until the 21st of the month.

    May ’17 – Week 4 (22nd – 28th)

    • On the 22nd of May, silver traded at Rs.39,435 per kg which was higher than the price noted during the previous week.
    • Due to market and demand fluctuations, the price of silver continued to vary as the week progressed.
    • Silver was priced at Rs.39,680 per kg on the 24th of May prior to increasing to trade at Rs.39,950 per kg on the 25th.
    • Due to a sudden increase in the demand for this metal from coin makers and industrialists, silver traded at Rs.40,190 per kg on the 26th of the month.
    • This price of silver was noted until the end of the fourth week of May in Salem.

    May ’17 – Week 5 (29th – 31st)

    • Geopolitical issues coupled with easing stock markets resulted in a slight increase in the rate of silver.
    • Silver traded at Rs.40,285 per kg on the 29th of May before increasing to a monthly high of Rs.40,440 per kg on the 30th of the month.
    • Silver was priced at Rs.40,190 per kg on the 31st of May recording an incline of 0.37% in the price of this metal.
    April 1st Rate Rs.42,570 per kg
    April 30th Rate Rs.40,040 per kg
    Highest Rate in April Rs.43,055 per kg on 15th and 16th April
    Lowest Rate in April Rs.40,040 on 29th and 30th April
    Overall Performance Decline
    Percentage Change -0.059%

    April 2017 - Week 1 (1st - 9th):

    • The month of April in Salem was a relatively poor period for silver trade as there wasn’t too much demand for the metal.
    • When trading began in Salem on the 1st of April, silver was trading at Rs.42,570 per kg.
    • Prices didn’t change on the 2nd as there wasn’t much of a change in demand.
    • However, silver prices went down to Rs.42,435 per kg as demand from local coin makers and industrialists went down.
    • Rates went up just as they went down on 4th as silver trading rocketed to Rs.42,925 per kg - a Rs.490 increase in just a day’s time.
    • After that sudden increase in demand, prices corrected themselves slightly to reach Rs.42,730 per kg on 5th.
    • As demand fell on the 6th, silver rates went down again to reach Rs.42,570 per kg but went back up marginally to Rs.42,640 per kg as demand went up.
    • Silver prices remained largely the same over the next two days - till the 9th - as demand sustained for most of this period.

    April 2017 - Week 2 (10th - 16th):

    • When the second week of April began, there was a slump in silver prices.
    • Rates had gone from Rs.42,640 per kg to Rs.41,625 per kg on 10th and fluctuated over the next few days.
    • On 11th, prices increased marginally to hit Rs.41,675 per kg as demand also went up from various quarters of the industry as well as coin makers.
    • The 12th saw prices increase again as silver trading reached Rs.42,570 per kg.
    • When trading began on 13th, silver prices had seen one of its biggest inclines as rates went up to Rs.43,030 per kg - a Rs.460 increase from the previous day - as demand went up.
    • Rates remained at Rs.43,030 per kg on 14th but increased to Rs.43,055 per kg on the 15th before continuing at the same rate till the end of the week.
    • Rates seen on the 15th and the 16th were the highest silver prices for the month of May.

    April 2017 - Week 3 (17th - 23rd):

    • The third week of May saw silver prices fluctuate as demand seemed to rattle after hitting a new high for the first time in a few months.
    • When the third week began on 17th, silver was trading at Rs.43,055 per kg but went down to Rs.42,775 per gram on 18th as demand went down.
    • On the 19th, silver rates went down again - for the third consecutive day - as demand showed no sign of picking up.
    • However, there were sustained demand on the 19th and the 20th, which lead to rates remaining at Rs.42,365 per kg on both the days.
    • The 21st again saw silver price tumble - this time by Rs.365 - to reach Rs.41,980 per gram and remained the same till the end of the week on the 23rd.

    April 2017 - Week 4 (24th - 30th):

    • Silver rates in Salem were at their worst during the last week of April.
    • When the week began, silver was trading at Rs.41,435 per gram, which then went down to Rs.40, 340 per gram.
    • Rates went up briefly on the 26th to reach Rs.40,520 per gram but decreased again to Rs.40,285 per kg.
    • There were plenty of fluctuations in demand which brought silver rates to Rs.40,390 per gram and then to Rs.40,040 per gram.
    • On the last day of April, silver was trading at Rs.40,040 - which happened to be the lowest silver rate for the entire month.
    • Silver rates decreased at a rate of 0.059% in Salem for April as there was not enough demand.
    March 1st Rate Rs.44,195 per kg
    March 31st Rate Rs.42,115 per kg
    Highest Rate in March Rs.44,200 per kg on 2nd March
    Lowest Rate in March Rs.40,040 per kg on 15th March
    Overall Performance Decline
    Percentage Change 4.70

    March ‘17 - Week 1 (1st to 5th)

    • On the 1st day of the month, silver opened at Rs.44,195 per kg in Salem due to heavy demand from jewellers and coin makers in the state.
    • Due to sustained demand, the rate of silver shot up to Rs.44,200 per kg on the 2nd, which was also the highest at which silver traded for the month of March in Salem.
    • A fall in demand from industrialists and coin makers saw prices plunge significantly on the 3rd of March, and the metal traded at Rs.42,570 per kg.
    • Silver rate in Salem increased on the 4th of March to Rs.43,295 and they remained at the same level until the end of the week due to increase in demand followed by stability.

    March ‘17 - Week 2 (6th to 12th)

    • The price of silver in Salem on the first day of the second week of March was Rs.42,925.
    • Rates fell marginally on the next few days owing to decline in demand. They were recorded at Rs.42,435 per kg on the 7th of March, Rs.41,900 per kg on the 8th of March, and Rs.41,340 per kg on the 9th of March.
    • A fall in demand for this metal from industrialists led to a decline in the price of this metal. As a resultant, silver traded at Rs.40,520 per kg on the last two days of the month.
    • Decreased demand for this metal from international markets led to the low rate seen during the second week of March.

    March ’17- Week 3 (13th to 19th)

    • The rate of silver in Salem on the first day of the third week of March was Rs.40,890 per kg due to a minor increase in demand.
    • Rates reduced by Rs.320 on the second day of the third week and were recorded at Rs.40,440 per kg.
    • On the 15th of March, rates fell sharply to trade at their lowest in the month as they touched Rs.40,040 per kg. A number of market fluctuations resulted in variations in the price of silver.
    • A minor decline on the 17th saw prices fall to Rs.40,815 per kg and rates remained stable for the next three days, closing the third week of March at Rs.40,815 per kg.

    March ’17- Week 4 (20th to 26th)

    • Silver traded on the fourth week of the month at Rs.41,030 per kg, which was slightly higher than the rates noted during the end of the previous week.
    • Silver rate in Salem on the 21st of March was Rs.40,890 per kg due to a fall in the demand for this metal.
    • On the 22nd of the month, price of silver increased slightly and were recorded at Rs.41,340 per kg.
    • On the 23rd and 24th of March, the rate of silver was steady at Rs.41,345 per kg due to medium and sustained demand.
    • On the last day of the fourth week of March, silver traded at Rs.41,340 per kg which was the same as the rate seen on the previous day as well.

    March ’17 – Week 5 (27th to 31st)

    • On the last day of the final week of March, silver traded at Rs.41,980 per kg in Salem due to a slight increase in demand for this metal.
    • The next day, a further rise in demand from industrialists and coin makers resulted in this metal trading at Rs.42,270 per kg. This rate was sustained on the 29th of March as well.
    • Rate of silver continued to increase on the 30th to trade at Rs.42,435 per kg. However, this rise could not be maintained and on the last day of the month, silver closed at Rs.42,115 per kg, recording a decline of 4.70%
    February 1st Rate Rs. 42,755 per kg
    February 28th Rate Rs. 44,085 per kg
    Highest Rate in February Rs. 44,140 per kg on 28th February
    Lowest Rate in February Rs. 42,080 per kg on 3rd February
    Overall Performance Rise
    Percentage Change +3.11%

    February ‘17 - Week 1 (1st to 5th)

    • A lot of fluctuations were noted in the price of silver during the first week of February in Salem.
    • Silver traded at Rs.42,755 per kg on the 1st due to heavy demand for this metal in both domestic and international markets.
    • The rate of silver rose to Rs.42,835 per kg on the 2nd due to increased demand. However, this could not be sustained and silver prices declined the next day to trade at Rs.42,080 per gram on the 3rd of February. This was also the lowest rate at which silver traded for the month of February in Salem.
    • Due to variations in the U.S. dollar price and subsequent increase in demand, the price of silver rose to Rs.42,355 per gram in the 4th of the month.
    • Silver closed the first week of February by trading at Rs.42,355 per kg which was the same rate as that of the previous day.

    February ‘17 - Week 2 (6th to 12th)

    • The second week saw silver trading at Rs.42,505 per kg which was slightly higher than that of the previous day.
    • Right after this, due to increased demand from industrialists and jewellers, the price of silver jumped to trade at Rs.42,730 per kg.
    • The price of silver fell to Rs.42,365 per kg on the 10th due to reduction in the demand for this precious metal.
    • However, as the rate of the U.S. dollar fluctuated it lead to a hike in the demand for this metal. As a result the price of silver increased to trade at Rs.42,570 per kg on the 11th of February.
    • Prices fluctuated during the week, with silver continued trading at Rs.42,570 per kg on 12th February due to a sudden rise in demand.

    February ’17- Week 3 (13th to 19th)

    • A minor variation in the rate of the U.S. dollar led to sudden rise in the demand for silver with this metal trading at Rs.43,245 per kg on the first day of the third week of February.
    • This demand was however not very steady and fluctuated throughout the week. On the 14th of February, the price of silver plunged to Rs.43,030 per kg.
    • The week ended with silver trading at Rs.43,400 per kg on 19th February, due to steady demand.

    February ’17- Weeks 4 & 5 (20th to 28th)

    • The price of silver in the last two weeks of February fluctuated slightly varying demand for this precious metal from industrialists and coin makers.
    • Silver was priced at Rs.43,300 per kg on 20th February, before rising slightly to trade at Rs.43,085 on the 21st of February.
    • There was an increase in demand for this metal resulting in prices rising to trade at Rs.43,420 per kg on the 22nd of February.
    • Silver prices continued to rise as the month ended, trading at Rs.44,085 per kg on 28th February to record an overall rise of 3.11%. This was also the highest at which silver traded for the month of February.
    January 1st Rate Rs.39,035 per kg
    January 31st Rate Rs.41,900 per kg
    Highest Rate in January Rs.42,010 per kg on 30th January
    Lowest Rate in January Rs.39,035 per kg on 1st January
    Overall Performance Incline
    Percentage Change +7.33%

    January ‘17 - Week 1 (1st to 7th)

    • The price of silver in Salem rose during the month as there was an increase in both industrial as well as domestic demand.
    • Silver was priced at Rs.39,035 per kg on 1st January, with the price rising on increased industrial demand.
    • Fluctuations in the market led to prices rising to Rs.40,340 per kg on 4th January, with the price rising further due to a spurt in industrial demand.
    • Silver ended the week trading at Rs.40,390 per kg on 7th January, recording a weekly increase in price of Rs.1,355 per kg.

    January ‘17 - Week 2 (8th to 14th)

    • Silver prices in the second week of January dipped initially but recovered as demand rose.
    • Silver traded at Rs.40,390 per kg on 8th January and rose to Rs.40,520 per kg on 9th January.
    • Increased demand from coin makers as well as a dip in markets led to demand rising.
    • Silver traded at Rs.41,370 per kg on 12th January before decreasing demand led to prices falling marginally.
    • Silver ended the week trading at Rs.41,230 per kg on 14th January, recording an increase of Rs.840 per kg during the week.

    January ’17- Week 3 (15th to 21st)

    • Fluctuating markets and a falling U.S. Dollar led to an increase in demand for silver.
    • Silver traded at Rs.41,230 per kg on 15th January as industrial demand from Asian markets increased.
    • Prices rose to Rs.41,895 per kg on 18th January on faltering markets, but prices fell to Rs.41,675 per kg on 19th February.
    • Prices recovered as the week ended, with silver trading at Rs.41,930 per kg on 21st January.

    January ’17- Weeks 4 & 5 (22nd to 31st)

    • Prices in the last two weeks of February saw some fluctuation, with silver trading at Rs.41,930 per kg on 22nd January.
    • Silver fell as demand from Asia dropped, trading at Rs.41,860 per kg on 23rd January.
    • Prices continued to drop as demand was low, trading at Rs.41,075 per kg on 27th January as the U.S. Dollar rose in anticipation of positive news from the U.S. Fed Reserve meeting.
    • U.S. markets were uncertain as to the direction of fiscal policy that would be taken under the new U.S. President, leading to a rise in demand for silver.
    • Silver prices rose as local demand as well as demand from coin makers rose, trading at Rs.42,010.
    • Silver prices dipped as the month ended due to a reduction in demand, trading at Rs.41,980 per kg on 31st January to record an overall increase of 7.33%.

    Silver as an investment

    Most of Salem’s populace view Silver as an effective mode of investment. Various segments of the populace prefer silver over gold because of its lower prices. Silver is an effective investment and its intrinsic value gives it an edge especially during times of financial instability.

    Physical silver

    Silver is extensively used in the form of jewellery especially silver anklets and silver ornamental jewellery forms an integral part of Salem’s economy. In fact the silver jewellery industry employs a large part of the population and employs close to 80,000 people across the various regions of Salem. With majority of the silver ornaments being produced for religious occasions and various other uses in the jewellery market, the use of silver in its physical form is deeply entwined to the history of Salem. In fact, silver in Salem can be dated back to 2000 years ago where silver coins from the Roman era were discovered in Salem in 1987.

    Silver contracts

    Multi Commodity Exchange (MCX), National Multi Commodity Exchange (NMCE) and National Commodity & Derivatives Exchange (NCDEX) are some of the channels in which silver is traded extensively. With an initial margin of around RS 2200, the minimum contract which is traded (silver micro) is 1 kg. Consumers will also have to incur other charges such as stamp duty, brokerage fee and so forth.

    Silver rates in Salem

    1 kg of silver was pegged at RS 34,415 at the start of December 2015, an increase of RS 400 from the close of November, 2015 when the price stood at RS 34,005. The overall price of silver in the past few months has not seen too many major fluctuations with any increase or decrease being in a reasonable range. The price of silver was high on the start of November 2015 and stood at RS 36,675 and saw a considerable slump in mid-November. However towards the close of November, the prices had evened itself out and now currently stands at RS 34.415 per gram.

    Also Check Silver Price in NearBy Cities of Salem

    Silver Rate in Coimbatore Silver Rate in Bangalore Silver Rate in Chennai
    Silver Rate in Trichy Silver Rate in Mysore Silver Rate in Pondicherry
    Also Know: Gold Rate in Salem

    Read more on Silver

    News About Salem Silver Rate

    • Gold and silver rebounds as jewellers start buying

      Gold prices increased by Rs.230 to Rs.28,645 per 10 grams at the bullion market. Pure gold also rose to Rs.28,795. Spot gold was up by 0.2% at USD 1,211.68 an ounce. There has been a rise in the overseas trend and jewellers have been buying at prevailing lower levels. Silver also followed suit and gained Rs.305 to Rs.37,615 per kg.

      17 February 2016

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