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Silver Price in Trichy
Silver is both a precious and an industrial metal (silver is as a result more prone to undergo some price fluctuations in the short run compared to gold). Silver rates in Trichy are determined by several dynamic variables in the market. Silver is riskier compared to gold, according to keen market observers. Silver can act as a hedge against inflation when there is lack of confidence in fiat money and residents of Trichy are following the trend.
India is the second largest consumer of silver. Unlike gold which is mostly used for jewelry, silver is used in several industrial sectors in Trichy. Traces of silver are found in most electronic devices such as smartphones and tablets among many others. What’s more, silver forms a major component in the manufacturing of photovoltaic cells largely used in solar panels across the country including Trichy.
Also check : Gold Rate in Trichy
Silver Rate in the Most Popular Indian Cities
Trend of Silver Rate in Trichy for April 2022 (rates per kg)
Parameters | Silver Price (per kg) |
April 1 Rate | Rs.71,700 per kg |
April 30 Rate | Rs.69,500 per kg |
Highest Rate in April | Rs.75,200 on 18 April |
Lowest Rate in April | Rs.68,800 per kg on 28 April and 29 April |
Overall Monthly Performance | Decline |
Percentage Change | -3.06% |
Trend of Silver Rate in Trichy for March 2022 (rates per kg)
Parameters | Silver Price (per kg) |
March 1 Rate | Rs.70,000 per kg |
March 28 Rate | Rs.71,300 per kg |
Highest Rate in March | Rs.77,600 on 9 March |
Lowest Rate in March | Rs.70,000 per kg on 1 March |
Overall Monthly Performance | Incline |
Percentage Change | 1.85% |
Trend of Silver Rate in Trichy for February 2022 (rates per kg)
Parameters | Silver Price (per kg) |
February 1 Rate | Rs.65,300 per kg |
February 28 Rate | Rs.70,100 per kg |
Highest Rate in February | Rs.70,600 per kg on 24 February |
Lowest Rate in February | Rs.64,900 per kg on 7 February |
Overall Monthly Performance | Incline |
Percentage Change | 7.35% |
Trend of Silver Rate in Trichy for January 2022 (rates per kg)
Parameters | Silver Price (per kg) |
January 1 Rate | Rs.66,600 per kg |
January 31 Rate | Rs.65,400 per kg |
Highest Rate in January | Rs.69,300 per kg on 21 January |
Lowest Rate in January | Rs.64,300 per kg on 10 January |
Overall Monthly Performance | Decline |
Percentage Change | -1.80% |
Trend of Silver Rate in Trichy for December 2021 (rates per kg)
Parameters | Silver Price (per kg) |
December 1 Rate | Rs.66,300 per kg |
December 31 Rate | Rs.66,000 per kg |
Highest Rate in December | Rs.66,300 on 1, 28, and 29 December |
Lowest Rate in December | Rs.64,600 per kg on 15 December |
Overall Monthly Performance | Decline |
Percentage Change | -0.45% |
Also Check Silver Price in NearBy Cities of Trichy
Silver Rate in Chennai | Silver Rate in Bangalore | Silver Rate in Madurai |
Silver Rate in Visakhapatnam | Silver Rate in Pondicherry | Silver Rate in Vijayawada |
Trend of Silver Rate in Trichy for November 2021 (rates per kg)
Parameters | Silver Price (per kg) |
Rate on 1 November 2021 | Rs.68,700 per kg |
Rate on 30 November 2021 | Rs.66,500 per kg |
Highest Rate in November | Rs.71,700 per kg on 13 and 14 November |
Lowest Rate in November | Rs.66,500 per kg on 30 November |
Overall Monthly Performance | Decline |
Percentage Change | -3.20% |
Trend of Silver Rate in Trichy for October 2021 (rates per kg)
Parameters | Silver Price (per kg) |
October 1 Rate | Rs.63,700 per kg |
October 31 Rate | Rs.68,900 per kg |
Highest Rate in October | Rs.70,300 on 25 October 2021 |
Lowest Rate in October | Rs.63,700 per kg on 1 October 2021 |
Overall Monthly Performance | Incline |
Percentage Change | 8.16% |
Silver as an Investment
When the market is bearish, investors have little confidence in the white metal, which leads to plummeting price. Many keen market analysts believe that silver, by and large, tends to follow the prices of gold. It would be more prudent to buy the white precious metal during times of recession while sell it during a boom, believe experts. Silver can be effectively used as a hedge against inflation in the long term but cannot be used as a hedge against recession in the short term.
Jewelry - Over the past few years, there has been a slight increase in demand for silver jewelry across the country which can be partly attributed to the fact that gold has become out of reach for many consumers across the country. Also, silver jewelry is catching up among youngsters. For instance, a bracelet made of sterling silver is considered to be more desirable (and cheaper) compared to gold.
Coins - Coins can be bought from reputed jewelry stores at current rates in the market. However, decorative coins involve making charges which you won’t be able to recover during resale. Also, storage issues remain if you make a huge investment.
ETFs - Silver exchange traded funds (ETFs) are not currently available in the country. However, investors can trade in silver ETFs available in the US market. Also, investors can buy stocks of reputed silver mining companies regularly listed on the Nasdaq or Dow.
Silver Price Trends in Trichy
One gram of silver is currently pegged at Rs. 39.70 in Trichy. Silver rates in Trichy have plummeted in the past few months in that one gram of silver was priced at Rs. 41.10 in the month of May. Silver rates have been fluctuating overall in the city of Trichy with one gram of silver priced at Rs 40.10 in the month of April while the metal was pegged at Rs. 40.90, Rs. 40.20 and Rs.42 in the months of March, February and January respectively this year.
Where to Buy Silver in Trichy?
There are several top silver rate jewelry showrooms in Trichy such as Om jewellery, Amar Jewellery House, Mangal and Mangal Jewellery, GRT Jewellers, Idhayam Thanga Maaligai, Thangamail Jewellery and G T Thanga Maaligai among many others.
Also Know: Gold Rate in Trichy |
Silver Rate in Trichy FAQs
- How is silver price determined in Trichy?
- What are the factors that are affecting the silver rates in Trichy?
- How to invest in silver in Trichy?
- Is it better to buy silver or gold in Trichy?
- What is BIS hallmarked silver rate in Trichy?
- Can I purchase stocks in silver?
The price of silver in Trichy, as in the rest of India, is affected by a number of factors, the majority of which are economic. Silver is only second to gold as a precious metal, not just in terms of jewellery but also as an investment. One of the main reasons for the often-fluctuating silver rate in Trichy is the increasing demand for silver around the world, combined with its decreasing deposits.
The price of silver, like the price of other commodities, is determined by speculation and supply and demand. Market conditions (big traders or investors, as well as short selling), industrial, commercial, and consumer demand, financial stress hedges, and gold prices all influence it.
Exchange Traded Funds (ETFs) or Exchange Traded Notes (ETNs), rather than mutual funds, are the best way to invest in silver. The reason for this is that most silver investors choose to invest in the price of silver rather than equities of silver mining and production businesses.
Silver is around 60 times cheaper than gold, buying one kg of silver far more affordable than one kg of gold. Silver's cost is also one of the main reasons why it can be a simple method to begin investing in precious metals, particularly for first-time investors with a limited budget.
The Bureau of Indian Standards (BIS) is in charge of regulating, managing, and evaluating the purity of silver in India through the hallmarking process. This method determines the metal content of silver or gold. The first company in India to offer 999 BIS Hallmarked Silver Coins was FX Global Metal Corporation.
Yes. You can purchase stocks in silver.
Read more on Silver
- About Silver Mining
- Silver Jewelry
- Why Should You Invest in Silver?
- How to Find Certified/Authentic Silver
- Need for Silver as an Industrial Commodity