Silver Rate in Trichy

  • Today's Silver Rate In Trichy ( 22 May 2022 )

    ₹ 65.9
    Today's Silver Rate per gram

    Compare Silver Rate In Trichy (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Silver (1 gram) ₹ 65.9 ₹ 65.9 ₹ 0 ↑
    Bar Silver (1 Kg) ₹ 65,900 ₹ 65,900 ₹ 0 ↑

    Silver Price In Trichy For Last 10 Days

    Date Silver (1 gram) Bar Silver (1 Kg)
    21 May 2022 ₹ 65.9 ₹ 65,900
    20 May 2022 ₹ 65.9 ₹ 65,900
    19 May 2022 ₹ 65.1 ₹ 65,100
    18 May 2022 ₹ 65.1 ₹ 65,100
    17 May 2022 ₹ 65.4 ₹ 65,400
    16 May 2022 ₹ 64.5 ₹ 64,500
    15 May 2022 ₹ 63.7 ₹ 63,700
    14 May 2022 ₹ 63.7 ₹ 63,700
    13 May 2022 ₹ 63.4 ₹ 63,400
    12 May 2022 ₹ 65.5 ₹ 65,500

    Weekly & Monthly Graph of Silver Rate in Trichy

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    • 6 Months

    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Silver Price in 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

    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

    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

    1. How is silver price determined in Trichy?
    2. 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.

    3. What are the factors that are affecting the silver rates in Trichy?
    4. 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.

    5. How to invest in silver in Trichy?
    6. 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.

    7. Is it better to buy silver or gold in Trichy?
    8. 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.

    9. What is BIS hallmarked silver rate in Trichy?
    10. 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.

    11. Can I purchase stocks in silver?
    12. Yes. You can purchase stocks in silver.

    Read more on Silver

    News About Trichy Silver Rate

    • Increase in price of silver futures on 17 November 2021

      On the Multi Commodity Exchange (MCX), the prices of silver futures saw an increase of Rs.179, which was a positive percentage change of 0.27%, to settle at Rs.66,413 per kg. The price of silver in the spot market was Rs.66,883 per kg on 16 November 2021. During the Diwali period, there was an increase in silver price by approximately Rs.3,300 per kg. In the global markets, the price of spot silver rose to $24.95 per ounce which was an increase of 0.6%.

      17 November 2021

    • Gold priced at Rs.46,710 per 10 gm while silver trends at Rs.69,100 per kg

      Prices of 22-carat gold slipped to Rs 46,710 per 10 gm (from the previous Rs.46,810). The price of silver too decreased to Rs.69,100 per kg. In New Delhi, the price of 22-carat gold was Rs.46,800 per 10 gm, Rs.45,070 in Chennai, and Rs.46,710 in Mumbai. There was a dip of Rs.100 in prices of 24-carat gold for every 10 gram, falling from Rs.47,810 to Rs.47,710. The prices of silver per kilogram decreased by Rs.200, falling from Rs.69,300 to Rs.69,100. Spot gold prices decreased by 0.2% to settle at $1,804.80 per ounce. US gold futures dropped by 0.3% to settle at at $1,805.90.

      13 July 2021

    • Gold gains Rs.285; silver jumps Rs.952

      The prices of gold grew by Rs.285 to Rs.48,892 per 10 gram in New Delhi on Tuesday.

      In the previous trade, the yellow metal had closed at Rs.48,607 per 10 gram.

      Silver also surged Rs.952 to Rs.71,850 per kilogram from Rs.70,898 per kilogram.

      In the global market, the price of gold edged higher at $1,912 per ounce while the price of silver remained unchanged at $28.32 per ounce.

      02 June 2021

    • Gold rates reach Rs.45,370 and silver prices at Rs.67,900

      Gold rates dipped by Rs.50 and reached Rs.45,370 per 10 gm and silver rates had been up by Rs.1,300 and reached Rs.67,900 per kg. In New Delhi, the price of 22-carat gold had increased by Rs.350 and reached Rs.44,600 and in Chennai it had dipped by Rs.20 and reached Rs.42,640. In Mumbai, the prices had dipped to Rs.44,370. The rate of 24-carat gold in Chennai had dipped by Rs.20 and reached Rs.46,520.

      In the international market, gold prices had dipped as much as 2% to the lowest in nine months.

      03 March 2021

    • 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.

      19 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.

      17 February 2016

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