Silver Rate in Tamil Nadu

  • Today's Silver Rate In Tamil Nadu ( 15 Dec 2019 )
    ₹ 47.3
    Today's Silver Rate per gram
    Compare Silver Rate In Tamil Nadu (Today & Yesterday)
    Today
    (15 Dec 2019)
    Yesterday
    (14 Dec 2019)
    Rate Change
    Silver (1 gram) ₹ 47.3 ₹ 47.3 ₹ 0 ↑
    Bar Silver (1 Kg) ₹ 47,300 ₹ 47,300 ₹ 0 ↑
    Silver Price In Tamil Nadu for Last 10 Days
    Date Silver (1 gram) Bar Silver (1 Kg)
    15 Dec 2019 ₹ 47.3 ₹ 47,300
    14 Dec 2019 ₹ 47.3 ₹ 47,300
    13 Dec 2019 ₹ 47 ₹ 47,000
    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

    Weekly & Monthly Graph of Silver Rate in Tamil Nadu

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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 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 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 Tamil Nadu 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%

    Trend of Silver Rate in Tamil Nadu 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 Tamil Nadu 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% 

    Trend of Silver Rate in Tamil Nadu 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 Tamil Nadu 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 Incline
    Percentage Change 3.55%
    • Silver prices opened the month of June at a monthly low of Rs.39,400 per kg and were steady and like the price at the end of May. This was mainly due to the decreased local demand of the metal amongst coin makers and industries.
    • The price of the metal increased throughout the month after possible rate cuts were to be announced by the United States Federal Reserve. Due to this, investors shifted to the bullion as safe-haven assets.
    • On 14 June, the price of the metal increased to Rs.40,100 per kg in the state of Tamil Nadu and hit its highest price of the month at Rs.41,500 per kg on 21 June as the rate cuts were on the verge of being implemented.
    • Silver prices steadied at the end of the month and closed at Rs.40,800 per kg in the month of June with an incline of 3.55%.

    Trend of Silver Rate in Tamil Nadu 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 Tamil Nadu at the start of May traded at Rs.40,500 per kg. During the same time, industrial demand remained stagnant while the US dollar remained steady.
    • Demand still remained sluggish as economic pressure built over the Sino-U.S. trade crisis. Since equites remained steady as well investors moved away from the white metal, hence reducing the demand.
    • Weak demand from coin makers and a rally by the dollar resulted in silver rates in Tamil Nadu plunging to a low of Rs.39,200 per kg on 20 May, though there was a marginal recovery as the week progressed due to fluctuating equity performance globally.
    • The end of the month saw silver rise to Rs.39,400 per kg as fears of a global trade war resulted in higher bullion offtake overseas, though the metal lost 2.71% in value during the month.

    Trend of Silver Rate in Tamil Nadu 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 Tamil Nadu 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%
    • Tamil Nadu experienced a decline in silver rate at the start of the month when the metal traded at Rs.42,700 per kg. This may have been the effect of the US dollar increasing in value and gaining an edge over other currencies. During this time, equities declined in value as well.
    • Silver disappointed many investors after it failed to increase in value due to weak economic trends. Out of the many reasons that the price may have fallen, one of the most prominent was the European Central Bank’s (ECB) verdict to postpone the interest rate hike. On the 7th, silver was priced at Rs.41,000 per kg.
    • On 29th, the metal traded at its lowest while equities also surprisingly dipped in value. Silver rate in Tamil Nadu traded at Rs.40,200 per kg. during this time.
    • The month ended with silver trading at Rs.40,600 per kg. The percentage decline was recorded at 4.91.

    Trend of Silver Rate in Tamil Nadu 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%
    • Amid conflicting overseas trend, silver prices in Tamil Nadu managed to open at Rs.43,900 per kg on 01 February and remained steady for the next few days.
    • As the overseas demand for the metal increased, silver rates surged and hit a monthly high of Rs.44,100 per kg on 5 February.
    • Meanwhile, the value of the US Dollar increased compared to a basket of other currencies and silver prices in Tamil Nadu fell and hit a monthly low of Rs.42,700 per kg on 14 February.
    • Due to the ongoing Sino-US trade dispute, investors turned towards safe-haven assets and the value of equities fell. This caused silver rates to incline and trade at Rs.44,000 per kg on 20 February. However, after the economic data was released in the US and strict monetary policy tone by the Federal Reserve boosted the dollar rate, silver rates fell and closed at Rs.43,300 per kg.

    Trend of Silver Rate in Tamil Nadu 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%
    • A steady rise in retail demand and stable industrial offtake boosted silver rates in Tamil Nadu after the metal opened at Rs.41,500 per kg on 1 January.
    • Fluctuations in the dollar rate due to market volatility as well as the government shutdown spurred greater interest in bullion as prices rose to Rs.42,700 per kg on 13 January.
    • Demand vagaries resulted in silver rates falling marginally as the metal traded at Rs.41,800 per kg on 22 January before rising local retail sales propped up prices.
    • Despite the dollar rising and markets stabilising after the shutdown ended, demand for silver continued to rise with the metal closing the month at Rs.43,900 per kg to record a 5.78% rise in value over the course of the month.

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

    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 Tamil Nadu for December 2018:

    • The month of December witnessed a sharp increase in the price of silver. It started off strong, trading at Rs.38,500 per kg on December 1 and moving up to Rs.39,600 per kg by December 7. This increase of Rs.1,100 per kg was owing to an increase in the local demand and favourable global cues.
    • In the second week, a subdued demand halted the rise of silver. It increased marginally to be mostly traded at Rs.40,700 per kg between December 11 and December 14. Following this flat demand, the price dropped to Rs.39,800 per kg on December 20.
    • As the investors moved away from bullion but stayed cautious of the ongoing developments, the price of silver in Tamil Nadu stayed flat at Rs.39,800 per kg on the 22nd and 23rd.
    • The final week of the month saw silver make some rapid gains, as a grim global economic outlook and tumultuous stocks prompted the investors to seek refuge in precious metals. It eventually moved up to end the month at a high of Rs.41,500 per kg on December 31.

    Trend of Silver Rate in Tamil Nadu 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 Tamil Nadu for November 2018:

    • The rate of silver in November opened at Rs.40,900 per kg and decreased throughout the month due to various factors. Some of the factors were the fall in the value of the rupee against the dollar and global decrease in demand.
    • In the first week of the November, the price of silver reached the highest rate of the month at Rs.41,500 due to festivals such as Diwali and Dhanteras. Throughout the rest of the month, the price of silver fell due to factors such as the ongoing Brexit negotiations.
    • Most investors, due to the ongoing Brexit negotiations, did not invest in the bullion. This led to the decline in the silver price.
    • On 30 November, the price of the metal closed the month at Rs.38,800 per kg which was a 5.13% decline when compared to its opening price.

    Trend of Silver Rate in Tamil Nadu 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):

    • The industrial metal opened the week trading at Rs.41,100 per kg amid poor demand from the domestic market due to weak overseas cues.
    • Ahead of the meeting of the US Federal Reserve, the dollar depreciated over other apex currencies leading to a surge in demand for the metal with silver trading at Rs.42,000 per kg.
    • By the end of the week, demand for the metal stabilised and silver prices in Tamil Nadu were recorded trading at Rs.41,900 per kg on the last day of this week.

    October 2018 - Week 2 (8-14):

    • When the week commenced on 8 October, silver rates in Tamil Nadu stood at Rs.41,500 per kg, down by Rs.400 per kg compared to the previous day amid a rallying dollar and bullish stock markets.
    • Weak overseas cues coupled with subdued domestic demand from industrial units and coin makers led to silver declining further to Rs.41,200 per kg on 9 October.
    • However, as the week progressed there was a surge in domestic purchases amid fluctuating markets which led silver to trade at Rs.41,500 per kg on 14 October.

    October 2018 - Week 3 (15-21):

    • The silver price in Tamil Nadu when the week began on 15 October stood at Rs.41,900 per kg, inclining by Rs.400 per kg over the previous day backed by increased demand from the local market.
    • Priced declined to Rs.41,400 per kg on 17 October; however; demand picked up as the week progressed and silver was recorded trading at Rs.41,700 per kg on 18 October.
    • Silver ended the week at Rs.41,500 per kg as local markets failed to take advantage of a weaker US dollar and poorly performing equity markets.

    October 2018 - Week 4 (22-28):

    • The silver rate in Tamil Nadu on 22 October stood at Rs.41,500 per kg with domestic markets increasing silver purchases due to positive overseas cues.
    • The US dollar index lost against several apex currencies leading to a surge in demand for the white metal and silver was recorded trading at Rs.41,900 per kg on 24 October.
    • Silver concluded the week trading at Rs.41,700 per kg amid steady demand for the industrial metal from industries and coin makers.

    October 2018 - Week 5 (29-31):

    • Silver began trading at Rs.41,600 per kg this week with local demand subdued by the strong US dollar and rising equities.
    • Amid declining demand for the white metal due to weak overseas cues, silver was recorded trading at Rs.41,200 per kg.
    • The silver price trend in Tamil Nadu during the month of October grew by 0.24% backed by firm overseas market trends coupled with stable demand from the domestic market.

    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%

    September 2018- Week 1 (1-8)

    • Silver opened at Rs.40,000 per kg in Tamil Nadu on 1st September. Silver rates fluctuated throughout the week amid poor demand and unfavourable overseas trend.
    • On the 2nd of the month, silver prices increased by Rs.100 per kg and traded at Rs.40,100 per kg before declining and recording a monthly low of Rs.39,500 per kg on 5th September as the retail and industrial demand for the metal dropped.
    • Meanwhile, the ongoing trade war tension hit the stock market negatively and investors turned towards safe-haven assets which helped silver prices in Tamil Nadu incline and close at Rs.39,700 per kg.

    September 2018- Week 2 (9-15)

    • Though silver prices stood unaffected at Rs.39,700 per kg, the price of the metal surged throughout the week due to favourable market conditions.
    • On the other hand, the US inflation data was released which dimmed the policy tightening case proposed by the US Federal Reserve due to which the US dollar value fell compared against a basket of apex currencies and silver rates in Tamil Nadu inclined and traded at Rs.39,900 per kg from 11 to 13 of the month.
    • By the end of the week, fluctuating dollar fortunes led to a fall in silver prices when the metal closed at Rs.39,500 per kg on 15 September.

    September 2018- Week 3 (16-22)

    • Though silver was priced at Rs.39,500 per kg which is the lowest silver rate for the month of 16 September, the price of the metal recovered during the week as the US dollar lost grounds.
    • 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.
    • Silver rates further inclined and traded at Rs.40,100 per kg on 20 and 21 September before closing at Rs.40,300 per kg on 22 as the value of the rupee fell and the global trade tensions continued.

    September 2018- Week 4 (23-30)

    • Silver opened at Rs.40,300 per kg on 23 September in Tamil Nadu.
    • Though due to poor industrial demand, silver rates fell to Rs.40,000 per kg on 24 September, it quickly recovered and surged to Rs.40,200 per kg on 25 and further inclined to Rs.40,800 per kg on 26 September.
    • On 29 and 30 September, silver prices in Tamil Nadu hit a monthly high of Rs.41,200 per kg and recorded an overall incline of 3% for the month.

    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.

    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

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