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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.
Trend of Silver Rate in Trichy for January 2017 (rates per kg)
|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|
January 2017 - Week 1 (1st to 7th):
- January saw quite a lot of fluctuations with regards to silver prices, which began in the first week.
- The metal started trading at Rs.39,035 per kg on 1st and increased, as demand picked up, to reach Rs.39,355 per kg.
- Prices increased again on 5th to reach Rs.40,520 per kg as buyers started buying more and more.
- On 6th, however, prices went down to Rs.40,440 per gram - a decrease of Rs.80 per kg.
- When week 1 ended, silver prices had gone down to Rs.40,390 per gram.
January 2017 - Week 2 (8th to 14th):
- As demand for silver increases all around Asia, prices seemed to rise in India as well.
- Week 2 began on 8th with silver trading at Rs.40,390 per kg.
- Rates remained the same on 9th as well before increasing to Rs.40,520 per kg at the end of 9th.
- On 11th, silver prices went down to Rs.41,360 and went down again to reach Rs.41,230 per kg on 12th.
- The second week of January ended with silver trading at Rs.41,230 per gram.
January 2017 - Week 3 (15th to 21st):
- When trading began on 15th, silver was priced at Rs.41,230 per gram - the same price as the last day of the previous week’.
- As Donald Trump’s economic policy began to take shape, markets went through a slightly tumultuous period, which brought an increase in prices.
- On 16th, silver was trading at Rs.41,360 per kg and went up to Rs.Rs.41,895 per kg on 18th.
- Prices went down slightly on 19th to reach Rs.41,675 per kg and continued at the same price on 20th as well.
- Week 3 of January ended with silver trading at Rs.41,930 per gram.
January 2017 - Weeks 4 & 5 (22nd to 31st):
- On 22nd, the metal was trading at Rs.41,930 per kg but fell to Rs.41,860 per kg on 23rd.
- Rates went down to Rs.41,435 per kg by the end of 25th as buyers seened to maintain their distance.
- Rates increased to Rs.42,010 per kg on 30th due to an increase in industrial demand.
- Price dropped to 27th to Rs.41,075 per kg and continued at the same rate till the closing hours of 29th.
- The month of January came to an end with silver prices holding at Rs.41,900 per kg.
- Trichy saw silver price trends increase by a massive 7.33%.
|December 1st Rate||Rs.40,495 per kg|
|December 31st Rate||Rs.39,035 per kg|
|Highest Rate in December||Rs.41,495 per kg on 8th December|
|Lowest Rate in December||Rs.38,455 per kg on 26th December|
December 2016 - Week 1 (1st - 4th):
- When December began on the 1st, silver was trading at Rs.40,495 per kilogram and increased a little to trade at Rs.40,675 on the 2nd.
- On 3rd, silver prices increased quite a lot to trade at Rs.40,070 per kilogram and continued at the same price till the end of the week on 4th.
December 2016 - Week 2 (5th - 11th):
- The second week saw silver prices go down markedly to Rs.40,650 per kilogram and continued at the same rate on the business day of the 6th.
- On 7th, prices increased slightly to Rs.40,995 per kilogram as global demands began to climb up for a brief period.
- When trading began on the 8th, silver prices increased again to hit Rs.41,495 per kilogram as demand went down, prices went down to Rs.41,345 per kilogram on the 9th.
- The last two days of week 2 i.e, 10th and 11th saw silver prices continue on the same rate as the 9th at Rs.41,345 per kilogram.
December 2016 - Week 3 (12th-18th):
- The third week of December saw some fluctuations when compared to the previous week as silver prices were down to Rs.40,880 per kilogram, this time.
- However, as demand picked up in the world market, prices stabilised on the 13th and 14th for gold to trade at Rs.41,340 per kilogram.
- On 15th, prices decreased by nearly Rs.1,000 to hit Rs.40,415 per kilogram before falling again to Rs.39,120 per kilogram on the 16th.
- Last two days of week 4 i.e., 17th and 18th saw prices hold steady for silver to trade at Rs.39,305 per kilogram.
December 2016 - Week 4 (19th - 25th):
- The 4th week of December saw silver prices fluctuate and decrease for much of the week.
- On 19th, silver traded at Rs.39,265 per kilogram before falling further down to hit Rs.38,925 on the 20th.
- Silver prices, however, picked up on the 21st owing to a rise in demand in the world market, to trade at Rs.39,300 per kilogram.
- The next few days of the week, from 22nd to 25th, saw prices fall gradually as it went from Rs.38,995 per kilogram on 22nd to Rs.38,725 per kilogram on 25th.
December 2016 - Week 5 (26th - 31st):
- Although, there were a few blips on 26th and 31st, the final week of 2016 saw some encouraging changes in silver pricing.
- When week 5 began on the 26th, silver was trading at Rs.38,455 per kilogram which later increased to Rs.39,350 on the 27th.
- The 28th saw prices go down a little bit for silver to trade at Rs.39,115 per gram before increasing to Rs.39,605 on the 29th.
- Prices again increased on the 30th to Rs.39,670 but fell to Rs.39,035 on the last day of the year.
- Overall, silver prices saw a decline of -3.60% for the month of December.
|November 1st Rate||Rs.43,310 per kg|
|November 30th Rate||Rs.41,275 per kg|
|Highest Rate in November||Rs.44,775 per kg on 11th November|
|Lowest Rate in November||Rs.40,405 per kg on 24th November|
November '16 - Week 1 (1st to 6th)
- Silver was priced at Rs.43,310 per kg on 1st November as demand for silver was high due to strong demand and weak markets.
- Uncertainty over the upcoming U.S. presidential election led to markets falling, which boosted demand for silver.
- Silver rose to Rs.44,030 per kg on 4th November as domestic demand also rose due to increased demand from jewellers and coin makers on account of the festive season.
- Silver traded at Rs.44,180 per kg on 6th November, with prices rising due to steady demand.
November '16 - Week 2 (7th to 13th)
- The price of silver continued to rise as markets suffered two surprise announcements which led to them falling sharply.
- The election of Donald Trump to the U.S. presidency led to global markets plunging, resulting in greater demand for safe haven assets like bullion.
- Silver traded at Rs.43,735 per kg on 7th November, with the price rising during the week.
- The surprise announcement of the demonetisation of Rs.1,000 and Rs.500 notes led to domestic markets falling, which boosted demand for silver.
- Silver traded at a monthly high of Rs.44,960 per kg on 9th November before stabilising at Rs.42,005 per kg on 13th November.
November '16 - Week 3 (14th to 20th)
- Demand for silver fell as a currency shortage due to demonetisation affected the economy.
- Silver traded at Rs.42,065 per kg on 14th November, as markets also began to recover from the previous week’s losses.
- International markets also showed signs of recovery, with the U.S. Dollar strengthening and recouping its losses.
- Silver was priced at Rs.40,735 per kg on 20th November, with prices falling due to declining demand.
November '16 - Week 4 and 5 (21st to 30th)
- Prices in the last two weeks continued to fall as demand from the retail sector all but stopped due to the cash shortage.
- Silver was priced at Rs.41,025 per kg on 21st November as investors stayed away from bullion due to a greater scrutiny of bullion trade.
- Silver fell to a monthly low of Rs.40,405 per kg on 24th November but recovered as the week progressed.
- Silver ended the month at Rs.41,275 per kg on 30th November, with prices dipping by over 4%.
|October 1st Rate||Rs.45,900|
|October 31st Rate||Rs.42,875|
|Highest Rate in October||Rs.45,900 on October 1st and October 2nd|
|Lowest Rate in October||Rs.41,780 on October 15th and October 16th|
October ’16 – Weeks 1 and 2 (1st to 9th)
- Silver was priced at Rs.45,900 on the 1st of October, and rates remained unchanged on the 2nd as well.
- Prices then started to fall gradually until the 7th, when they touched Rs.41,800 and remained stable for the remainder of the week.
- The overall decline in prices during the first nine days of October was Rs.1,100.
October ’16 – Week 3 (10th to 16th)
- Silver was valued at Rs.42,585 on the first day of the third week of October as prices rose by Rs.785 from the last day of the previous week.
- Prices remained unchanged until the 12th of October, after which they declined on a consistent basis until the 15th.
- Silver prices stood at Rs.41,780 on the 15th of October and remained constant on the 16th as well.
- Silver closed the week with a decline of just Rs.20 when compared with the previous week.
October ’16 – Week 4 (17th to 23rd)
- The price of silver was Rs.41,845 thanks to a minor rise on the 17th of October.
- An increase of Rs.525 on the second day of the week saw prices soar to Rs.42,370 after which they declined and increased on the following to days to hit Rs.42,380 on the 20th of October.
- Prices declined by Rs.250 on the 21st of October and remained unchanged until the end of the week to close at Rs.42,130 per kg.
- Silver prices increased by Rs.350 between the first and last day of the fourth week of October.
October ’16 – Week 5 (24th to 31st)
- The value of silver on the 24th of October was Rs.42,340 thanks to an increase in rates from the closing levels of the fourth week.
- Following an increase on the second day of the week, prices started to fall consistently until the 28th of October.
- Prices remained stable at Rs.42,270 between the 28th and 31st of the month.
- The overall decline in prices between the 1st and 31st of October was 6.59%.
|1st Day||Rs.45,010 per kilogram|
|Last Day||Rs.46,175 per kilogram|
|Highest Price||Rs.47,735 per kilogram on 8th September|
|Lowest Price||Rs.45,010 per kilogram on 1st September|
September '16 - Week 1 (1st to 4th)
- On account of weak economic data, the U.S. Federal Reserve rate hike seemed impossible this month.
- Silver prices started climbing this week as demand increased in the global and domestic markets
- On 1st September, silver traded at Rs.45,010 per kilogram.
- By the end of the week, silver was trading at Rs.46,760 per kilogram.
September '16 - Week 2 (5th to 11th)
- Silver traded at Rs.46,760 per kilogram on 5th September.
- The increasing trend continued this week as demand was high.
- On 8th September, silver traded at RS.47,735 per kilogram, the highest price for this month.
- Towards the end of the week, the chorus of a Fed rate hike began again in the global market.
- Silver rates dropped to Rs.46,835 per kilogram on 9th to 11th September.
September '16 - Week 3 (12th to 18th)
- On 12th September, silver traded at Rs.45,695 per kilogram.
- With the expectations of a Fed rate hike rising, silver prices fell.
- Industrial buyers lent some support to silver which led to fluctuations in silver rates.
- By 14th, silver rates had climbed to Rs.45,940 per kilogram, but soon started to fall as the market turned bearish.
- Silver prices dropped to Rs.45,370 per kilogram on 18th September.
September '16 - Week 4 (19th to 25th)
- A positive atmosphere took over the overseas markets as the U.S. Federal Reserve put the rate hike on hold as the presidential elections are taking place.
- Silver traded at Rs.46,100 per kilogram on 19th September.
- The market outlook was bullish and silver rates were able to climb up this week.
- Domestic demand was stable and helped keep silver rates up.
- By 23rd September, silver rates rose to Rs.47,560 per kilogram and stayed constant till 25th September.
September '16 - Week 5 (26th to 30th)
- The dollar gained strength in the global market and cast a gloomy cloud over silver and gold.
- On 26th September, silver was seen trading at Rs.46,685 per kilogram. But by 28th September, silver fell to Rs.45,645 per kilogram.
- The drop in prices was a result of subdued demand from coin makers and industrialists in the domestic market.
- The trend for this month indicated an increase of 2.59%.
|1st August||Rs.49,200 per kilogram|
|31st August||Rs. 45,320 per kilogram|
|Highest Price||Rs.49,660 per kilogram on 03rd August|
|Lowest Price||Rs.44,900 per kilogram on 29th August|
|Trend||Decline in silver prices|
August '16 – Weeks 1 (1st to 7th)
- On the first day of the week, silver traded at Rs.49,200 per kilogram.
- After touching the highest silver rate of Rs.49,600 of the month on 03rd August, silver prices declined due to muted demand and FED rate hike speculations.
- At the end of the first week, silver closed at Rs.47, 255 per kilogram.
August '16 – Week 2 (8th to 14th)
- Silver traded at Rs.47,280 per kilogram on 08th August.
- On 10th of August, silver prices increased slightly and touched Rs.48,760 per kilogram.
- Silver traded at Rs.47,750 per kilogram from 12th August to 14th August of the month.
August '16 – Week 3 (15th to 21st)
- On 15th August, silver was priced at Rs.47,750 per kilogram.
- Despite weak trend overseas, silver managed to increase on 16th August and touched Rs.48,130 per kilogram.
- Silver started declining gradually due to lack of interest displayed from local jewellers and traded at Rs.46,690 per kilogram at the last day of the week.
August '16 – Week 4 (22nd to 28th)
- On the fourth week of the month, silver managed to resist major fluctuations.
- On 22nd of August, silver traded at Rs.45,800 per kilogram.
- The highest silver rate this week of Rs.45,890 per kilogram was recorded on 23rd August.
- Silver closed at Rs.45,040 per kilogram.
August '16 - Week 5 (29th to 31st)
- The lowest silver rate of the month was recorded on 29th August when silver traded at Rs.44,900 per kilogram.
- Despite FED rate hike speculation, positive U.S employment data and lack of demand from coin makers, experts believe that silver prices will increase in the second half of 2016.
- Silver closed at Rs.45,320 per kilogram on the last day of the month.
|1st Day||Rs.46,650 per kg|
|Last Day||Rs.48,970 per kg|
|Highest Price||Rs.49,200 per kg on 11th July|
|Lowest Price||Rs.46,650 per kg on 1st July|
July'16 - Week 1 and 2 (1st to 10th)
- The opening rate of silver was Rs.46,650 per kg and this rate was the lowest rate at which silver was priced for the month of July.
- There was a marginal increase noted in the price of silver on the 2nd and 3rd of July wherein the rate of silver was Rs.47,925 per kg.
- PRices continued increasing marginally over the course of the next few days with Rs.49,265 per kg being the highest price of silver. This price was noted on the 6th and 7th of July.
- A minor decrease in silver rate was seen after that.
July'16 - Week 3 (11th to 17th)
- Silver opened at Rs.49,200 per kg which was the highest rate of the month.
- However, this rate was not steady and decreased slightly thereafter.
- On the closing day of the week, the price of silver was Rs.48,840 per kg.
July '16 - Week 4 (18th to 24th)
- There were fluctuations noted in silver prices as the week progressed.
- Although silver rates declined marginally on th19th, they recovered quickly.
- Price of silver steadied after the 22nd of July.
- On the last three days of the week, price of silver stayed steady at Rs.47,420 per kg.
July‘16 - Week 5 (25th to 31st)
- A few variations were noted in silver prices during final week of July.
- Price of silver was below Rs.47,370 per kg until the 27th after which prices increased by Rs.1,700 per kg.,
- However, rate of silver decreased again on the 29th to cost Rs.48,380 per kg after which rates increased marginally to close at Rs.48,970 per kg on the 31st of July.
|June 1st Rate||Rs.38,720 per kg|
|June 30th Rate||Rs.44,725 per kg|
|Highest Rate in June||Rs.44,725 per kg on the 30th of June|
|Lowest Rate in June||Rs.38,720 per kg on the 1st of June|
Jun'16 – Week 1(June 1st to June 4th)
- Silver traded at Rs.38,720 per kg on the 1st of June.
- The price of silver climbed to Rs.39,075 per kg on the 3rd of June.
- The price further increased as silver hit Rs.39,755 per kg on the 4th of June.
Jun'16 - Week 2 (5th to 11th)
- Silver traded at Rs.39,755 per kg on the 5th of June.
- Prices dropped down to Rs.39,370 per kg on the 7th of June.
- The price of silver increased as the week progressed and silver hit Rs.41,510 per kg on the 10th of June and remained the same on the 11th of June.
Jun'16 - Week 3 (12th to 18th)
- Silver remained unchanged and traded at Rs.41,510 per kg on the 12th of June.
- The price increased the very next day, owing to global demand and silver hit Rs.41,835 on the 13th of June.
- Silver traded at Rs.43,055 per kg on the 16th of June.
- The price declined further over the week and silver hit Rs.42,280 on the 18th of June.
Jun'16 - Week 4 (19th to 25th)
- Silver traded at Rs.42,280 per kg on the 19th of June.
- Due to heavy demand in the global market,the price of silver rose to Rs.42,405 per kg on the 21st of June.
- The price of silver relatively increased over the week and hit Rs.43,465 per kg on the 24th of June.
- The price of silver remained unchanged on the 25th of June at Rs.43,465 per kg.
Jun'16 - Week 5 (26th to 30th)
- Silver traded at Rs.43,465 per kg on the 25th and 26th of June.
- The price further increased to Rs.44,440 per kg on the 29th of June.
- Silver closed the month at Rs.44,725 per kg on the 30th of June.
|1st May rate||Rs. 42,590|
|31st May rate||Rs. 39,010|
|Highest rate in May||Rs. 42,590 on 1st of May|
|Lowest rate in May||Rs. 38,705 on 30th of May|
May '16 - Weeks 1 and 2 (1st to 8th)
- Silver rates in Trichy dropped marginally over the course of the first 8 days, trading at Rs. 42,590 per kg on the 1st of May.
- The prices decreased marginally throughout the week, but an increase in demand raised prices on the 7th of May to Rs. 41,635 per kg after a series of losses.
- Silver traded at Rs. 41,875 per kg on the 8th of May after a slight recovery owing to a surge in domestic demand.
May '16 -Week 3 (9th to 15th)
- Silver prices stayed volatile, making gains mid-week before losing value towards the end of the month as the international markets experienced turbulence, with the Dollar making marginal gains.
- Silver in Trichy traded at Rs. 41,635 per kg on the 9th of May, falling slightly over the next few days.
- As the Dollar weakened, silver demand rose, taking silver prices to Rs. 41,625 per kg on the 11th of May, from a low of Rs. 41,085 on the 10th of May.
- The slide continued to the end of the week, with silver retailing at Rs. 41,255 per kg from the 13th-15th of May.
May '16 - Week 4 (16th to 22nd)
- Prices veered wildly this week, as manufacturing data from the U.S. was expected, leading to the markets gaining and losing points within the week.
- Silver began the week at Rs. 41,255 per kg, maintaining the rate from the previous week before rising slightly on the following day.
- Prices fell on the 20th of May to Rs. 40,040 per kg, a drop of Rs. 1,215 per kg.
- Stock markets dipped slightly, leading to a rise in domestic demand and raising prices marginally, as silver closed at Rs. 40,135 per kg.
May '16 - Weeks 5 and 6 (23rd to 31st)
- The last week of May saw prices dip to their lowest of the month as strong data from the U.S. boosted the Dollar and the stock market.
- Silver traded at Rs. 39,780 per kg on the 23rd of May and followed this up with a further plunge as markets stabilised across the world.
- The anticipation of a Fed rate hike caused concern that bullion would become more expensive, lowering demand and causing silver to fall to a low of Rs. 38,705 on the 30th of May.
- Silver closed the month at Rs. 39,010 per kg, an increase of Rs. 305 per kg.
|April 1st Rate||Rs.37,015|
|April 30th Rate||Rs.42,590|
|Highest Rate in April||Rs.42,590 on the 30th of April|
|Lowest Rate in April||Rs.35,765 on the 4th of April|
|Overall Performance||Gain / Positive|
Apr'16 - Weeks 1 & 2 (1st to 10th)
- Silver rates were on the decline during the first four days of the month followed by a steady increase over the next three days before gaining stability for remainder of the ten-day period.
- Prices were recorded at Rs.37,015 on the 1st of the month and Rs.36,620 on the tenth day of April.
- Prices began to increase after the fourth day of trading thanks to firming international and domestic cues plus increase in industrial demand.
Apr ‘16 - Week 3 (11th to 17th)
- Silver rates increased steadily during the third week of the month.
- Prices were recorded at Rs.37,180 on the first day of the week and Rs.39,110 on the last day of the week.
- The increase in prices over the week was nearly Rs.2000.
Apr ‘16 - Week 4 (18th to 24th)
- Silver rates increased during the first few days of week before declining marginally on the fifth day and remaining constant towards the end of the week.
- Prices were recorded at Rs.38,860 on the 18th of April and Rs.41,155 on the 24th.
- Prices increased by more than Rs.2200 during course of the week, recording the highest gains over seven days this month.
Apr ‘16 - Week 5 (25th to 30th)
- Barring a marginal drop in prices on the fourth day of trading, silver prices increased steadily over the last week of April.
- Prices were recorded at Rs.40,520 on the first day of the week and Rs.42,590 on the last day of the month.
|1st March rate||Rs.36,640|
|31st March rate||Rs.36,715|
|Highest rate in March||Rs.38,455 on 18th|
|Lowest rate in March||Rs.35,260 on 2nd|
Mar'16 - Week 1 (1st to 6th)
- Silver had a stable performance during the first week of March.
- Rates were Rs.36,640 on 1st and Rs.36,640 on 6th again.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Prices dropped in the second week.
- Rates were Rs.37,915 on 7th and Rs.35,260 on 13th.
- A substantial drop of Rs.2,655 was observed during the week.
Mar'16 - Week 3 (14th to 20th)
- Silver gained Rs.215 in this week.
- Prices were Rs.37,850 on 14th and Rs.37,865 on 20th.
- Prices reached a high of Rs.38,455 on 18th before losing out the gains by end of the week.
Mar'16 - Week 4 (21st to 27th)
- Depreciations continued over the fourth week.
- Rates were Rs.37,705 on 21st and Rs.36,685 on 27th.
- Silver lost a little over Rs.1,000 in this week.
Mar'16 - Week 5 (28th to 31st)
- Silver ended the month on a positive note by rising by Rs.170.
- Prices were Rs.36,545 on 28th and Rs.36,715 on 31st.
|1st February rate||Rs.35,040|
|29th February rate||Rs.36,605|
|Highest rate in February||Rs.38,525 on 12th|
|Lowest rate in February||Rs.34,975 on 2nd|
Week 1 (1st to 7th)
- February began positively for silver trade.
- Prices were Rs.35,040 on 1st and Rs.36,690 on 7th.
- Silver rallied from 3rd onwards and rose by Rs.1,650 by the end of the week.
Week 2 (8th to 14th)
- Silver continued gaining value over the second week also.
- Rates were Rs.35,900 on 8th and Rs.37,800 on 14th.
- A substantial Rs.1,900 was gained by silver during this week of trading.
Week 3 (15th to 21th)
- There were more gains for silver in the third week.
- Prices were Rs.37,100 on 15th and Rs.37,600 on 21st.
- Prices were volatile all through the week before stabilizing at Rs.37,600 by the end.
Week 4 (22nd to 29th)
- Silver prices dropped in the last week of trading in February.
- Rates were Rs.37,400 on 22nd and Rs.36,400 on 29th.
Silver lost an overall Rs.1,000 in the last days of February, still ending up 1,665 higher that month-start rates.
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 rate silver 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 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|
|Also Know: Gold Rate in Trichy|
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
News About Trichy Silver Rate
Silver Outshines Gold Attracting Record Bullish Bets
Bullish bets on gold through US futures and options contracts have hit their highest level last week since the August of 2011. However, the bullish bets on silver prices have outshone this performance to set a whole new high record. The Commodity Futures Trading Commission claim that there were a total of 86,886 Open: Non - Commercial long silver positions the previous week.
Silver prices are enjoying their time in the spotlight by gaining over 6 per cent in the last 5 trading sessions. This has been recorded as its best run since mid – March. In comparison to the 16 per cent rise gained by gold this year, silver has gained almost 18 per cent.
The dollar index hit a 5 month intraday low of 93.60 on 12, April, 2016 on a trade – weighted basis that helped in pushing silver prices up 1.7 per cent to a close $16.18. This was the first settlement above the $16 mark since the middle of October, 2015. Although on Wednesday the dollar rallied towards 95.00, the price of silver still managed a gain of 0.1 per cent, closing at $16.20. Signs of stabilization on China have also contributed to the rise in the price of silver. Over 50 per cent of the silver demand comes directly from industry. This is the not the case with gold. Bloomberg has also reported that silver holdings at the exchange-traded funds are today as high as they have been since the year 2014.
When coming to the bullish of gold / silver ratio that measures how many ounces of silver you will need to purchase to purchase one ounce of gold, silver still need to catch up. Early March, 2016 reported gold / silver peaked at 83, implying that it takes 83 ounces of silver to purchase 1 ounce of gold. In late 2010, silver climbed all the way from $18 to $49. In the recent times, this ratio has seen a slight dip from 83 to 79, which is still considered to be high. Silver prices have seen a rise from $15 to $16, an increase of 5.2 per cent.
However, silver prices have tried and failed previously to break the record of $16.30 as it was seen previous October. Friday saw another attempt to break this record, finishing close.
19th April 2016
Gold futures fall by Rs.241
As participants indulged in cutting their bets the gold futures fell by Rs.241 to Rs.28,449 per 10 grams. Analysts have credited the decline in the gold prices to the weak trend overseas where it fell for a 3rd day after it touched a 1 year high last week. The recovery in equity eroded the demand for the safe haven asset. The pressure on gold was built by the profit booking by speculators.
17th February 2016