• Silver Rate in Tamil Nadu

    Daily Silver Rates
    Date Silver (1 gram) Bar Silver (1 Kg)
    10 Dec 2018 ₹ 40.3 ₹ 40,300
    09 Dec 2018 ₹ 40.3 ₹ 40,300
    08 Dec 2018 ₹ 40.3 ₹ 40,300
    07 Dec 2018 ₹ 39.6 ₹ 39,600
    06 Dec 2018 ₹ 39.5 ₹ 39,500
    05 Dec 2018 ₹ 39.6 ₹ 39,600
    04 Dec 2018 ₹ 39.6 ₹ 39,600
    03 Dec 2018 ₹ 39 ₹ 39,000
    02 Dec 2018 ₹ 38.5 ₹ 38,500
    01 Dec 2018 ₹ 38.5 ₹ 38,500

    *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 Rate in Tamil Nadu

    Silver, a high-beta precious metal compared to the yellow metal is sought by millions across India. Around 55% of silver is utilized by industries across the world of which 40% of demand stems from electronic industries alone. According to analysts,the price of silver has dropped faster compared to gold in that the silver-gold ratio in April 2011 was pegged at 31.7. In September 2015, the ratio stood at 76. According to experts, the rate at which price of silver drops will be slower than that of gold.

    Silver is held in high regard across Tamil Nadu across both rural and urban populace. Significantly, over 80% of silver imported to Chennai is sent to Salem, making the latter one of the largest consumer of silver. Intriguingly, Salem has been one of the  biggest manufacturers of silver anklets in India. Salem payals (500 gm to 1000 gm) are widely sold in Goa and Chhattisgarh.  

    Trend of Silver Rate in Tamil Nadu 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%

    Trend of Silver Rate in Tamil Nadu for August 2018 (rates per kg)

    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 from 24 August
    Overall Monthly Performance Decline
    Percentage Change -2.65%

    August 2018 - Week 1 (1 - 05):

    • The month of August began with silver trading Rs.41,400 per kg, the highest price Tamil Nadu saw for the month.
    • Silver then dropped by Rs.100 per kg on 4 August, in spite of high domestic demand for the metal from industries and jewellers. Silver dipped to Rs.41,300.
    • Week 1 ended with silver being priced at Rs.41,300 per kg.

    August 2018 - Week 2 (6 - 12):

    • Tamil Nadu did not experience a change in silver price at the start of week 2. The metal still stood at Rs.41,300 per kg.
    • However, on 9 August, the metal plummeted to Rs.41,400 per kg as the dollar in correspondence to other currencies rose in value.
    • Silver declined to Rs.41,200 per kg as week 2 ended.

    August 2018 - Week 3 (13 - 19):

    • Silver still traded at Rs.41,200 at the start of week 3.
    • The dollar rose in value as the US economy witnessed a positive trend causing silver to declined in value. On 16 August, the metal stood at Rs.39,900 per kg.
    • Silver traded at Rs.40,000 per kg to end week 3.

    August 2018 - Week 4 (20 - 26):

    • Silver price in Tamil Nadu stood stagnant as it still remained at Rs.40,000 per kg on 20 August.
    • The dollar, in comparison to other currencies increased in value on 23 August as silver dipped in value. The state experienced a decline in the price of silver as it stood at Rs.39,900.
    • Week 4 ended with silver being priced at Rs.40,200 per kg.

    August 2018 - Week 5 (27 - 31):

    • The fifth week started off with silver being priced the same as it did at the end of week 4.
    • Demand for the metal then increased during the course of week 5, causing the price of the metal in Tamil Nadu to increase as well.
    • Silver price in the state for the month of August recorded a declining trend of -2.65%. At the end of the month, the metal traded at Rs.40,300 per kg.

    Trend of Silver Rate in Tamil Nadu 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 on 9 and 10 July
    Lowest Rate in July Rs.41,200 per kg on 28 and 29 July
    Overall Monthly Performance Decline
    Percentage Change -3.27%

    Trend of Silver Rate in Tamilnadu 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 to 5 June
    Overall Monthly Performance Steady
    Percentage Change 0.00%

    June 2018 - Week 1 (1 - 10):

    • As the trading for the metal started, silver traded at Rs.42,800 per kg in Tamil Nadu on 1 June. On the first day of the week, the demand for the metal was on the decline amid a weak trend overseas.
    • As the US dollar started recovering and investors worldwide weren’t keen on investing in the bullion market, the price of the metal in Tamil Nadu was affected negatively. On 2 June, the price of silver stood at Rs.42,600 per kg.
    • As the demand for the metal did not pick up and the value of the US dollar remained strong, the price of the metal in the state could not pick up and continued to trade at Rs.42,600 per kg till 5 June.
    • However, as the value of the US dollar dropped against all other apex currencies, the price of the metal increased and traded at  Rs.43,900 per kg on 6 June.
    • On the other hand, the retail and industrial demand fell which caused silver rates to decline and trade at Rs.43,800 per kg on 7 June.
    • When the week came to an end on the 10, the metal was priced at Rs.43,700 per kg.

    June 2018 - Week 2 (11 - 17):

    • An increase of Rs.200 per kg was recorded in silver prices in Tamil Nadu on the first day of week 2. On this day, the metal traded at Rs.43,900 per kg. Silver prices could incline as the investors took advantage of the positive market trend due to which the demand for the metal increased locally.
    • The price of the metal further inclined by Rs.100 per kg and traded at Rs.44,000 per kg as the demand from coin makers and industrial units picked up.
    • The price of the metal fell of 13 June due to week trend overseas and traded at Rs.43,900 per kg.
    • Silver rates further fell to Rs.44,300 per kg on 14 June due to muted demand from the domestic and international market.
    • However, on 15 June, silver prices surged and recorded the highest rate of the month. On this day, the metal traded at Rs.45,000 per kg. The price of the metal inclined as the value of the US dollar declined after the US Federal Reserve monetary policy meeting.
    • As the US dollar gained lost grounds in the following days, the price of the metal fell and traded at Rs.44,300 per kg for the rest of the week. However, when the week came to an end, the demand for the metal from the local market was steady and the price of silver was expected to rise.

    June 2018 - Week 3 (18 - 24):

    • Though an incline in silver prices was expected as the domestic demand for the metal was stable, the price of the metal fell drastically and traded at Rs.43,400 per kg on 18 June. A decrease of Rs.900 per kg was noted on the first day of the week. Silver prices fell due to a strong US dollar.
    • A small hike in silver rates was noted on 15 June when the metal traded at Rs.43,500 per kg as the demand for the metal picked up.  
    • As the value of the US dollar grew stronger in the following days, the rate of the metal fell and silver traded at Rs.43,100 per kg.
    • As the demand from the coin makers and industrial units fell, silver rates fell further and traded at  Rs.42,900 per kg on 21 June.
    • When the week ended, the white metal traded at Rs.42,900 per kg as the demand for the metal dropped ahead of a strong dollar.

    June 2018 - Week 4 (25 - 30):

    • As the value of the US dollar inclined, the price of the metal in Tamil Nadu declined throughout the last week of the month.
    • When the week began on 25 June, the price of the metal stood at Rs.43,200 per kg as there was a strong demand for the silver in the domestic market.
    • On 26 and 27 of June, silver was traded at Rs.43,000 per kg as the demand remained stable.
    • Silver prices fell on 29 June and traded Rs.42,800 per kg as overseas cues coupled with weak demand pushed prices down.
    • When the month came to a halt, the white metal was priced at Rs.42,800 per kg - which was also the month’s starting rate.
    • Though silver prices fluctuated the entire month, there was technically no change in the overall performance of the metal in Tamil Nadu.

    Trend of Silver Rate in Tamil Nadu 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):

    • Silver trading was on the positive side this month, thanks to a rising demand seen towards the end of the month.
    • On the 1st of May, when trading started for this month, the white metal was priced at Rs.42,000 per kg.
    • With concerns rising ahead of the US-China trade war and the possible effect it could have, safe haven demand surged. This caused silver demand to rise locally as well and the metal traded at Rs.42,600 per kg on the 3rd.
    • The week drew to a close with the metal trading at Rs.42,600 per kg.

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

    • Silver rates in Tamil Nadu had risen to Rs.43,200 per kg when the second week’s trading began on the 7th of May.
    • After news about a rising dollar arrived, demand for the white metal dropped, and the metal traded at Rs.43,000 per kg.
    • A slight improvement in local demand pushed silver rates up to Rs.43,100 per kg on the 9th before rising to Rs.43,300 per kg on the 10th.
    • As demand continued to rise amidst strong demand from industries and coin makers, and the weakening of the dollar, rates went up to RS.43,500 per kg on the 11th.

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

    • The third week’s trading began with a slight improvement in silver rates. On the 14th, when this week began, the white metal was priced at Rs.43,600 per kg.
    • As markets strengthened and the US dollar gained, silver rates dropped to Rs.43,300 per kg on the 15th before dropping further to Rs.43,000 per kg the subsequent day.
    • A brief surge in demand caused silver rates to go up to Rs.43,200 per kg on the 16th before slumping back down to Rs.43,000 per kg on the 17th.
    • On the 18th, the metal was seen trading at Rs.43,200 per kg as domestic demand surged but fell back to Rs.43,000 per kg on the 19th.
    • When the week ended, the white metal was seen trading at Rs.43,100 per kg.

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

    • The penultimate week of May began with little change in prices. The metal was still seen trading at Rs.43,100 per kg as demand remained steady.
    • Markets fell after news that the Federal Reserve would keep the interest rates unchanged. This caused silver demand to rise.
    • On the 22nd, the metal traded at Rs.43,200 per kg before trading a further improved rate of Rs.43,500 per kg on the 23rd.
    • Rates seen on the 25th were the highest for the month too. After demand consolidated, prices fell to Rs.43,600 per kg on the 26th.

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

    • The last four day of May saw silver rates drop because of a resurgent dollar and a even slowed down local demand.
    • The week began with silver trading at Rs.43,000 per kg on 28th before rising marginally to Rs.43,100 per kg the next day.
    • On the 30th, prices dropped to Rs.42,900 per kg as the metal couldn’t hold against the barrage of the dollar.
    • Strong cues paired with a steady local demand helped silver rates incline by 2.61% this month.

    Trend of Silver Rate in Tamil Nadu 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 (1 - 7):

    • Trading commenced for the month in Tamil Nadu with silver prices holding at Rs.41,400 per kg on the 1st on account of steady demand from local industries and coin manufacturers.
    • An increase in safe-haven demand brought about by the rising geopolitical tensions between the US and North Korea led to silver rates rising to Rs.41,600 per kg on the 3rd.
    • However, an incline in the dollar value coupled with good returns on the equity markets led to demand dropping over the next couple of days.
    • Silver was recorded trading at Rs.41,000 per kg on the 5th amid the poor trend overseas. This was also the lowest monthly figure registered in the city.
    • Demand, however, picked up towards the end of the week following an increase in industrial orders from the Asian continent. This led to silver being priced at Rs.41,200 per kg on the final day of the week.

    April 2018 - Week 2 (8 - 15):

    • The second week commenced with silver trading at Rs.41,200 per kg on the 8th with local demand on the decline amid the recovering US dollar.
    • However, with the US markets tumbling amid the poor global cues, demand for safe-haven assets surged and silver rate in Tamil Nadu was recorded trading at Rs.41,700 per kg.
    • Demand rose further during the week with strong industrial orders from the Asian continent and silver was priced at Rs.42,000 per kg on the 12th.
    • Trading concluded for the week with silver price in Tamil Nadu holding at Rs.41,900 per kg on the 15th with subdued but steady local demand for the industrial metal.

    April 2018 - Week 3 (16 - 22):

    • Demand surged significantly during the week as US markets began to tumble after the US’s involvement in Syria.
    • The week opened with silver priced at Rs.42,100 per kg on the 16th with strong domestic demand amid the positive trend overseas.
    • The 18th saw silver rate in Tamil Nadu rising further to Rs.42,500 per kg with investor demand on the rise amid the weakened US dollar index.
    • With trade war concerns between the US and China impacting stock markets, demand for safe-haven assets during the week.
    • On the 19th, the white metal was recorded trading at Rs.43,700 per kg with strong investor demand brought about by positive market cues.
    • Silver price in Tamil Nadu rose to a monthly high of Rs.43,800 per kg on the 20th with strong global demand amid the positive trend overseas.

    April 2018 - Week 4 (23 - 30):

    • The last week began with silver trading at Rs.43,700 per kg on the 1st with steady local demand from coin makers and industrial units amid the strong trend overseas.
    • With the US dollar index regaining lost ground against a basket of other major emerging currencies, demand for the metal dropped and silver rate in Tamil Nadu was recorded holding at Rs.42,800 per kg on the 27th and the 28th.
    • The month came to an end with the industrial metal priced at Rs.42,300 per kg on the last day of trading, registering an incline of 2.17% in silver trade during the course of the month.

    Trend of Silver Rate in Tamil Nadu 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 (1 – 4):

    • The first week witnessed silver price in Tamil Nadu rising with shaky equity markets and dollar performances pushing demand higher for the white metal during the week.
    • The week began in Tamil Nadu with silver priced a Rs.41,100 per kg on the 1st amid firm overseas trends.
    • Rates surged to Rs.41,400 per kg on the 2nd after the US dollar index lost against a basket of other major emerging currencies in the international market.
    • The weakened US dollar coupled with bullish demand for the metal led to silver prices rising to Rs.41,600 per kg on the 3rd.
    • Strong trends overseas coupled with steady demand from local industrial units and coin makers led to silver rate in Tamil Nadu holding firm at Rs.41,600 per kg for the remainder of the week.

    March 2018 – Week 2 (5 – 11):

    • The second week saw silver price in Tamil Nadu fluctuating considerably with uneven global cues leading to vagaries in demand during the week.
    • When the week began, the industrial metal prices were recorded holding at Rs.41,600 per kg on the 6th steady demand from industrial units and coin manufacturers.
    • Prices plunged to Rs.41,400 per kg on the 7th after demand took a hit after the dollar index rose against a basket of other emerging currencies in the international market.
    • The 8th saw silver rates surging to Rs.41,900 per kg following an increase in industrial offtake in the domestic level after industries tracked a firm trend overseas.
    • But with the greenback regaining lost ground from its previous session’s decline, prices dropped to Rs.41,500 per kg on the 8th.
    • On the 9th, silver rate in Tamil Nadu dropped further to Rs.41,300 per kg as the US dollar rose amid the well performing equity markets.
    • Thanks to an increase in domestic demand from local jewellers and retailers over the next few days, prices rebounded to Rs.41,600 per kg on the 10th and continued trading at the same rates for the rest of the week.

    March 2018 – Week 3 (12 – 18):

    • Trading commenced for the week with the white metal priced at Rs.41,600 per kg on the 12th with demand remaining unchanged from the previous week.
    • The US dollar rose after the US employment data reported an increase in the number of jobs associated to the country’s economy. This led to silver being priced at Rs.41,400 per kg on the 13th.
    • Prices rose to Rs.41,700 per kg on the 14th after the greenback lost significant ground with markets shaken by the abrupt dismissal of Rex Tillerson the US Secretary of State by the White House.
    • However, with markets speculating over the possibilities of a Fed rate hike by the central bank next week, the dollar rebounded. This led to silver price in Tamil Nadu dropping to Rs.41,500 per kg on the 15th.
    • The next couple of days saw silver rate in Tamil Nadu dropping significantly amid the rising dollar and recovering equities. The white metal was priced at Rs.41,300 per kg on the 16th before plunging further to Rs.41,100 per kg on the 17th amid the poor market trends overseas.
    • When the week came to an end, the industrial metal prices were recorded holding at Rs.41,100 per kg on the 18th with subdued demand by industrial units and coin makers amid weak global cues.

    March 2018 – Week 4 (19 – 25):

    • Trading opened for the week with the white metal priced relatively lower at Rs.41,000 per gram on the 19th following a slight decline in demand from the previous week.
    • Thanks to an increase in demand from local coin manufacturers and industrial units, silver price in Tamil Nadu surged to Rs.41,200 per kg on the 20th.
    • Though rates plunged to Rs.41,000 per gram the next day, silver rate in Tamil Nadu soon rebounded with investors and traders banking on the metal to hedge against the uneven equities and the metal was recorded trading at Rs.41,500 per kg on the 22nd.
    • With markets cautious ahead of the US Federal Bank monetary policy announcement on future Fed rate hikes, demand for the white metal remained strong over the next few days. Silver was priced at Rs.41,600 per kg on the 23rd amid the firm overseas trends.
    • The week came to an end with prices remaining untouched at Rs.41,600 per kg on the 25th with the bullion market following strong trends overseas.

    March 2018 – Week 5 (26 – 31):

    • The last week saw silver prices rising initially before the recovering US dollar and equities resulted in muting the demand as the week progressed.
    • Silver was priced at Rs.41,600 per kg on the 26th when the week began with firm market trends from the previous week.
    • The 27th witnessed an increase in demand for safe-haven assets due to rising tensions between  US and Russia resulting in silver prices surging to Rs.41,800 per kg.
    • However, with the US dollar regaining lost ground from its previous rally of losses, silver rate in Tamil Nadu plunged to Rs.41,500 per kg on the 28th.
    • Poor domestic demand along with  weak market trends overseas led to silver price in Tamil Nadu dropping further to Rs.41,400 per kg on the 29th.
    • The month came to an end with the industrial metal prices holding firm at Rs.41,400 per kg on the 31st with subdued but steady demand by coin makers and industries amid weak global cues.

    Details of Silver Price in Tamil Nadu (1 Kg) - Till December 2015

    Silver rates in Tamil Nadu depends on a lot of national and international factors. 1 kg of silver was pegged at Rs.33785 in Chennai as on December 21st, 2105. The price of silver has been on the decline barring minor fluctuations since the start of the year with the white precious metal pegged at Rs.40283 in January. The price of silver fell by -5.6% to Rs.38010 in the month of February. Silver rates in Tamil Nadu plummeted in the following months of March and April when the price of the precious metal dropped to Rs.37940 and Rs.37660 respectively. The month of May witnessed a mini rally as the rate of the white precious metal  rose by 7% to Rs.40435. The price of silver, however, tumbled to Rs.38351 towards the end of the same month. The price of silver continued to slide further in the following months. 1 kg of silver was pegged at Rs. 37788 in June and Rs.36021 in July. The price of silver decreased by 0.5% to Rs.35840 in August. The price of silver marginally rose by 0.1% to Rs.35885 in October. The price of silver hovered around Rs.34930 towards the end of November.

    Silver as an investment in Tamil Nadu

    Silver or ‘poor man’s gold’ is the most common form of traditional investment which caters to demands of all sections of society. Silver is seen as a valuable asset with a store of value offering protection against rising prices and effective hedge against inflation. Silver coins and bars are the most common forms of investment. Significantly, the plummeting price of silver has made it more attractive as a vehicle for investment.

    Physical silver: Silver is widely bought in the form of coins and 1 kg bars. Silver jewellery including temple jewellery including artefacts meant for ritualistic purposes, and other auspicious occasions is prevalent and drives demand for the white metal across various towns and cities in Tamil Nadu. From traditional silver jewellery items such as toe-rings and anklets to antique jewellery and artefacts, silver is sold in multiple forms. Silver articles are much in demand during the festive season.

    Silver contracts: Silver is traded in the spot as well as futures market. Silver is traded in Multi Commodity Exchange, National Spot Exchange and National Commodity & Derivatives Exchange. MCX offers three silver options, namely, Silver Mini, Silver 1000 and Silver Micro. Silver contracts deliver up to 30kg of silver. Silver Micro is one of the most traded contracts owing to the low margins involved.

    Also Check Silver Price in NearBy Cities of Tamil Nadu

    Silver Rate in Chennai Silver Rate in Coimbatore Silver Rate in Madurai
    Silver Rate in Salem Silver Rate in Trichy

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