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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 December 2017 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver Rate on 1st December 2017||Rs.38,230 per kg|
|Silver Rate on 31st December 2017||Rs.39,265 per kg|
|Highest Rate in December||Rs.39,365 per kg on 30 and 31 December|
|Lowest Rate in December||Rs.36,545 per kg on 13 December|
|Overall Monthly Performance||Incline|
Trend of Silver Rate in Trichy for November 2017 (rates per kg)
|Parameters||Silver price (per kg)|
|Silver rate on 1st November 2017||Rs.39,530 per kg|
|Silver rate on 30th November 2017||Rs.38,460 per kg|
|Highest Rate in November 2017||Rs.40,520 per kg on 18 and 19 November|
|Lowest Rate in November 2017||Rs.38,460 per kg on 30 November|
|Overall Monthly Performance||Decline|
November 2017 - Week 1 (1st - 5th)
- Silver opened at Rs.39,530 per kg when the first week of November began.
- A rise in demand caused by the festive season, silver price in Trichy rose to Rs.39,680 per kg on the 2nd.
- Rates increased again on the 3rd for the metal to trade at Rs.39,950 per kg as traders stocked to meet the possible rise in demand.
- However, silver rate in Trichy dropped on the 4th for the metal to trade at Rs.39,355 per kg due to a slowdown in demand.
- When the week ended, the white metal was still trading at Rs.39,355 per kg.
November 2017 - Week 2 (6th - 12th)
- Silver opened at Rs.39,365 per kg when trading started on the 6th of November.
- On the 7th, silver price in Trichy surged to Rs.39,970 per kg as the US dollar plunged in its valuation, and the bullion industry took full advantage of it.
- Silver price in Trichy went up again on the 8th, this time to trade at Rs.40,040 per kg on the 8th and continued at this rate till the closing hours of the 9th.
- Demand dropped slightly as the US dollar made a recovery. The white metal traded at Rs.39,970 per kg on the 10th and remained unchanged for the remainder of the week.
November 2017 - Week 3 (1th3 - 19th)
- The third week of November saw silver rates increase initially as uncertainty around the middle east contributed to a rise in demand.
- Silver opened at a relatively subdued price of Rs.39,870 per kg on the 13th of November before surging to Rs.40,040 per kg on the 14th.
- Prices went up again on the 15th for the white metal to trade at Rs.40,240 per kg as a strained British economy weighed in on bullion sales.
- Silver rate in Trichy remained at Rs.40,040 per kg on the 17th before surging to Rs.40,520 per kg on the 18th as the strained relationship between the UK and the European Union took centre stage.
- The week came to a close with the white metal still trading at Rs.40,520 per kg as demand from local circles in Trichy remained steady.
November 2017 - Week 4 (20th - 26th)
- When trade exchanges opened on the 20th, silver prices had dropped to Rs.39,780 per kg. Prices continued at the same rate on the 21st before increasing to Rs.39,950 per kg on the 23rd as local demand improved briefly.
- Silver rate in Trichy dropped to Rs.39,780 per kg on the 24th of the month and continued at the same rate for the remaining days of the week.
November 2017 - Week 5 (27th - 30th)
- Silver price in Trichy dropped on all four days of this week as demand continued to weaken as days passed.
- On the 27th, the white metal traded at Rs.39,780 per kg, before going down to Rs.39,530 per kg on the 28th of November.
- When the week ended, silver rates had gone down by as much as Rs.650 per kg to close at Rs.38,460 per kg.
- Overall, silver price trend declined by 2.7% this month, due to a less-than-optimal demand from local market and a strong US dollar.
|Parameters||Silver price (per kg)|
|Silver rate on 1st October 2017||Rs.39,530 per kg|
|Silver rate on 31st October 2017||Rs.39,435 per kg|
|Highest Rate in September||Rs.40,670 per kg on 16 October|
|Lowest Rate in September||Rs.39,110 per kg on 5 October|
|Overall Monthly Performance||Decline|
October 2017 - Week 1 (1st to 8th)
- As the month started, silver in Trichy was priced Rs.39,530 per kg and was flat for the next day.
- The price at which silver was traded dropped down due to the subdued demand from the buyers, retailers and jewellers, amid the strong equity market and US currency.
- Silver price in Trichy fell by Rs.420 per kg and was priced Rs.39,110 per kg, the month’s lowest, on 5 October
- Towards the end of the week, the metal gained its shine due the stable demand overseas and was traded at Rs.39,680 per kg for the last two days.
October 2017 - Week 2 (9th to 15th)
- In the beginning of the second week, silver prices in Trichy crept up ahead of the festive season.
- While on 9 October silver’s rate in Trichy was Rs.39,950 per kg, as the week proceeded prices jumped up to Rs.40,440 per kg. The sparked geopolitical tensions due to the rising nuclear power of North Korea created massive tension in the US market and among the investors. This made silver a safe haven and increased its prices.
- Declining US job data also contributed towards rise in the metal’s price.
- For the last three days of the week, silver was stable at Rs.40,390 per kg.
October 2017 - Week 3 (16th to 22nd)
- Silver traded at the highest rate on the first day of third week due to the unprecedented rise in the demand of silver during the festive season.
- It traded at Rs.40,670 per kg and then over the course of the week slipped by Rs.890 per kg owing to the weak global cues and sudden drop in the precious metal’s demand amid the festive season
- Silver was priced Rs.39,780 per kg on 19 October, however, due to the stability in the US dollar and equities, silver edged up.
- The growing political instability in Europe added shine to the metal’s price making it a safe haven. The week closed at Rs.40,060 per kg.
October 2017 - Week 4 & Week 5 (23rd to 31st)
- There were no major fluctuation in the silver’s price as the week started due to continued political instability.
- The precious metal’s price touched Rs.39,670 and traded at the same rate on 25 and 26 October. The fall in the prices was mostly due to the subdued demand from the industry.
- Silver price in Trichy further edged down to Rs.39,115 per kg as the US dollar strengthened. In fact, the MCX silver futures rate got affected by 0.32%.
- The month ended on a good note, with silver traded at Rs.39,435 per kg. The rising volatility in the gold’s price attributed the prices to move up.
|Parameters||Silver price (per 1 kg)|
|Silver rate on 1st September||Rs.40,390 per kg|
|Silver rate on 30th September||Rs.39,530 per kg|
|Highest Rate in September||Rs.40,900 per kg on 9 and 10 September|
|Lowest Rate in September||Rs.39,530 per kg on 28 to 30 September|
|Overall Monthly Performance||Decline|
September 2017 - Week 1 (1st - 10th)
- Silver was trading at Rs.40,390 per kg when September began in Trichy.
- Due to continued and stable demand from local investors prices remained unchanged till the 3rd.
- The 4th saw silver rates in Trichy increase to Rs.41,075 per kg, courtesy of a weak US dollar performance.
- As demand increased, silver prices in Trichy went up to Rs.40,340 per kg and then to Rs.41,495 per kg as industrial ramped up their purchases to improve their inventory.
- Due to a sudden fall in demand on the 7th, rates fell to Rs.40,230 per kg.
- The final three days saw increased demand for silver as North Korea confirmed reports about its latest - and the most powerful nuclear test.
- On the 8th, silver was trading at Rs.41,675 per kg, which then increased to Rs.41,900 per kg on the 9th.
- At the time of closing on the 10th, silver was still trading at Rs.41,900 per kg.
September 2017 - Week 2 (11th - 17th)
- Silver prices this week was largely on the decline as a result of a strengthening US dollar.
- On the 11th, silver in Trichy was priced at Rs.41,075 per kg before going down slightly to trade at Rs.41,030 per kg on the 12th.
- Silver rates in Trichy rose to Rs.41,075 per kg on the 13th again but fell this time by a higher margin.
- On the 14th, the white metal was priced at Rs.40,890 per kg and continued at this rate till the end of the week.
September 2017 - Week 3 (18th - 24th)
- Silver rates in Trichy was reflective of the trend seen in the consolidated Indian market. When the week began on the 18th, the metal was priced at Rs.40,440 per kg.
- A strong US dollar performance had an adverse effect on silver on the 19th as the metal traded at Rs.39,680 per kg.
- The North Korea - US conflict didn’t seem to settle down, which stoked safe-haven purchases, globally and domestically.
- This unabating conflict led to silver prices increasing to Rs.40,060 per kg on the 20th.
- A drop in demand on the 21st saw the white metal trade at Rs.39,670 per kg. Due to steady and sustained demand, silver rates remained unchanged till the week came to an end.
September 2017 - Week 4 (25th -30th)
- In Trichy, silver prices opened for this week at Rs.39,670 per kg.
- Due to increased buying spurred by the imminent arrival of Dusshera festivities, silver prices rose to Rs.40,520 per kg.
- However, as demand took a hit, silver prices went down to Rs.39,780 per kg on the 27th.
- On the 28th, silver prices in Trichy went further down to Rs.39,530 per kg as demand plummeted amidst weak global cues.
- Over the final two days of the week, silver prices remained at Rs.39,530 per kg, thanks to a sustained but low demand from local buyers.
- A weak demand overall from industries and jewellers compounded with sluggish demand overseas led to silver rates falling by 2.12% for this month.
|Parameters||Silver price (per kg)|
|Silver Rate in 1st August||Rs.38,995 per kg|
|Silver Rate in 31st August||Rs.40,060 per kg|
|Highest Rate in August||Rs.40,190 per kg on 30 August|
|Lowest Rate in August||Rs.37,235 per kg on 5 & 6 August|
|Overall Monthly Performance||Incline|
August 2017 - Week 1 (1st - 6th)
- Silver trading showed mixed signs this week, which was evident in constantly fluctuations prices.
- When the week began, silver was priced at Rs.38,995 per kg, but decreased to Rs.38,230 per kg because of a low demand from industries and coin makers.
- Silver rate in Trichy fell further on the 3rd to go down to Rs.37,965 per kg and thereby reflecting the bullion trading scenario in the global market.
- A spike in demand on the 4th saw silver prices jump to Rs.38,455 per kg. This increase in purchases was brought about by coin makers who splurged to satisfy eager retailers.
- Silver price in Trichy fell and held at a monthly low figure of Rs.37,235 per kg on the 5th and 6th. This development, or lack thereof, was brought about by investors who backed out of purchases in numbers.
August 2017 - Week 2 (7th - 13th)
- This week saw silver price in Trichy improve courtesy of a weakening greenback as a direct result of the US’ conflict with North Korea.
- Silver trading started for the week at Rs.37,935 per kg, which improved to Rs.37,345 per kg on the 8th and subsequently to Rs.38,455 per kg on the 9th.
- The 10th saw silver prices gain significantly to reach Rs.39,115 per kg because of the US economy crashing amid the ongoing stand-off with North Korea.
- Silver rate in Trichy increased again on the 11th to Rs.39,670 per kg and continue at the same rate on the 12th and the 13th, thanks to increased buying from industrial units and coin makers.
August 2017 - Week 3 (14 - 20):
- This week began on a weak note with silver trading at Rs.39,435 per kg.
- However, local demand improved over quickly to push prices up to Rs.38,460 per kg on the 15th and then to Rs.39,355 per kg.
- Rates surged for the third time this week, leading to the metal trading at Rs.39,780 per kg on the 18th.
- But, news about positive economic growth and the subsequent rise of the US dollar pushed silver rates down to Rs.39,115 per kg on the 19th.
- The final day of the week saw little change in silver price in Trichy as demand remained steady from all corners of the market.
August 2017 - Week 4 (21st - 27th)
- During this week, silver price in Trichy remained on a low but were slightly helped by a steady demand.
- Silver rate in Trichy was recorded at Rs.39,115 per kg on the 21st and the 22nd, before a spike in local demand pushed prices up to Rs.39,265 per kg on the 23rd.
- Rates improved on the 24th as well and the metal traded at Rs.39,355 per kg.
- However, a resurgent US dollar and a proportional drop in global demand had an adverse effect on local silver sales.
- This led to the white metal’s prices declining to Rs.38,995 per kg on the 25th and continue at the same level till the 27th.
August 2017 - Week 5 (28th - 31st)
- The last few days of this week saw silver prices increase as demand from retail outlets pushed purchases up.
- On the 28th, silver price in Trichy closed at Rs.38,435 per kg. But, with demand spiking significantly, prices went up to Rs.40,440 per kg on the 29th.
- However, this demand couldn’t be sustained for longer periods, which pushed silver prices down to Rs.40,190 per kg on the 30th.
- Rates fell again on the last day of the month to close at Rs.40,060 per kg.
|Parameters||Silver price (24 karat)|
|July 1st Rate||Rs.38,640 per kg|
|July 31st Rate||Rs.38,815 per kg|
|Highest Rate in July||Rs.38,815 per kg on 31 July|
|Lowest Rate in July||Rs.35,565 per kg on 10 July|
|Overall Monthly Performance||Incline|
July 2017 - Week 1 ( 1st to 9th)
- In Trichy, silver prices opened at Rs.38,640 per kg when the week began on the 1st.
- Prices remained unchanged for the next couple weeks i.e., the 2nd and the 3rd as a result of continued demand from domestic circles.
- However, rates fell to go down to Rs.37,705 per kg on the 4th as positive sentiments surrounding the Independence Day in the US led to a well-performing economy.
- Rates went up to Rs.38,395 per kg on the 5th due to concerns relating to Donald Trump and his policy decisions.
- On the 6th of the month, silver was selling at Rs.37,600 per kg as dollar rallied again amidst positive US job data.
- For the last three days of the week, silver prices remained at Rs.37,115 per kg, thanks to steady demand from investors.
July 2017 - Week 2 (10th to 16th)
- Silver rates in Trichy hit a monthly low of Rs.35,565 per kg on the 10th as demand fell amidst a strong US dollar performance.
- Rates increased for the next couple days as it first went up to Rs.36,035 per kg on the 11th and then to Rs.36,920 per kg on the 12th as demand went up.
- The 13th saw prices increase as well, which led to the white metal trading at Rs.37,115 per kg before falling slightly to Rs.36,545 per kg on the 14th.
- The sharp decline was followed by a considerable increase on the 15th as rates rose to Rs.37,115 per kg and trading at the same rate for the remaining days of the week.
July 2017 - Week 3 (17th to 23rd)
- Rates were still holding at Rs.37,180 per gram when the third week began on the 17th.
- Due to a surge in local purchases, particularly from coin makers, rates went up to Rs.38,395 per kg on the 18th of July.
- Demand from local industries fell due to purchases hitting a saturation point, which pushed silver prices down to Rs.37,600 per kg on the 19th and the 20th.
- When trading closed on the 21st, silver prices had gone up to Rs.38,005 per kg but declined marginally to trade at Rs.37,965 per kg the next day.
- Silver rates were holding at Rs.37,965 per kg when the third week of July 2017 came to an end.
July 2017 - Week 4 (24th to 31st)
- The last week of July opened at Rs.38,275 per kg due to overnight trading cues.
- Rates declined l to Rs.38,005 per kg on the 25th as investors backed out of investing amidst US Fed rate hike news,
- Prices dropped again on the 26th to Rs.37,965 per kg but went up to Rs.38,640 per kg on the 27th.
- Despite some rises and falls, silver prices closed at a monthly high of Rs.38,815 per kg on the final day of July.
- Silver price trends in Trichy incline at a rate of 0.32% in Trichy, courtesy of a weak US dollar performance and strong local demand.
|June 1 Rate||Rs.40,060 per kg|
|June 30 Rate||Rs.38,640 per kg|
|Highest Rate in June||Rs.40,890 per kg on 6 & 7 June|
|Lowest Rate in June||Rs.38,455 per kg on 21 June|
|Overall Monthly Performance||Decline|
June'17 - Week 1 (1st - 4th)
- When silver trading commenced in Trichy, the metal was priced at Rs.40,060 per kg, which went down to Rs.39,780 per kg on the 2nd of June.
- The 3rd saw silver rate in Trichy increase to Rs.40,670 per kg and continue at the rate rate till the end of the week.
- Demand for the metal seemed to be on a high, courtesy of some good global cues.
June '17 - Week 2 (5th - 11th)
- Demand remained on the ascent when week 2 began on the 5th, as the white metal was trading at Rs.42,715 per kg.
- On the 6th and 7th, silver was trading at a monthly high rate of Rs.40,890 per kg - as dollar rate fell amidst administrative concerns regarding Donald Trump’s presidency.
- However, prices fell to Rs.40,815 per kg on the 8th as demand fell considerably due to investors remained wary.
- Rates fell further to Rs.40,060 per gram as a positive US jobs data led to precious metal prices tanking.
- When the second week of June came to an end, silver was priced at Rs.40,060 per kg.
June'17 - Week 3 (12th - 18th)
- Due to weak cues and a strong stock market, silver prices started on a low of Rs.39,780 per kg on the 12th of June.
- With demand showing little signs of improving, silver rates went down again to Rs.39,110 per kg on the 13th.
- As there was a minute improvement in demand, the white metal’s prices went up to Rs.3,9115 per kg on the 14th before dropping down to Rs.38,995 per kg on the 16th.
- Silver price in Trichy went further down on the 17th as the US dollar strengthened. Price went down to Rs.38,460 per kg on the 17th and traded at the same rate on the 18th as well.
June '17 - Week 4 (19th - 25th)
- When trading began on the 19th, silver prices had increased to Rs.38,815 per kg owing to an increased domestic demand.
- The increase in rates seemed like a false dawn as silver rates fell to Rs.38,460 per kg on the 20th before hitting a monthly low figure of Rs.38,455 per kg on the 21st of June.
- Demand from local coin makers are industrial units increased, leading to an increase in silver prices on the 22nd.
- Rates went from Rs.38,640 per kg on the 23rd to Rs.38,925 per kg on the 24th and the 25th.
June'17 - Week 5 (26th - 30th)
- During the last week of June, silver was priced at Rs.38,815 per kg.
- Rates fluctuated this week owing to unstable demand from the local consumers.
- On the 27th, silver was trading at Rs.38,690 per kg before increasing to Rs.39,110 per kg on the 28th.
- As demand took a hit, silver prices went down to Rs.38,640 per kg on the last day of the month.
- Silver price in Trichy decline at a rate of 3.54% in June as a result of weak demand despite the dollar being on a relative low.
|Parameters||Silver Price in Trichy|
|May 1st Rate||Rs.40,040 per kg|
|May 31st Rate||Rs.40,190 per kg|
|Highest Rate in May||Rs.40, 190 per kg from 26-28 & 31 May|
|Lowest Rate in May||Rs.37,800 per kg on 9 May|
May ’17 – Week 1 (1st – 7th)
- The price of silver came down gradually during the first week of May. This trend can be attributed to the lack of demand for safe-haven assets, bullish stocks and the strengthening of the dollar.
- Silver traded at Rs.40,040 per kg on May 1. The next day, the price stood at Rs.39,265 per kg, a decline by Rs.775 per kg due to the increase in the US Dollar rate as Asian markets were bullish.
- Over the course of the week, prices further came down due to lack of industrial demand. The price of the precious white metal was Rs.38,230 per kg on May 4 and came down again to Rs.38,120 per kg on the next day, May 5.
- A lack of safe-haven buying, fall in gold prices and political developments surrounding the elections in France further pushed down the price of silver, which stood at Rs.38,005 per kg on May 6.
- Silver closed on the last day of the week at Rs.38,005 per kg, the same price as the previous day.
May ’17 – Week 2 (8th – 14th)
- The precious metal traded cautiously at Rs.37,865 per kg on May 8. The price of silver fell during the week due to many factors such as the presidential election in France and changes in demand factors.
- The price of the metal reached its lowest in the month to Rs.37,800 per kg on May 9 due to aggressive trading in the stock market.
- Silver hit the market at Rs.37,865 per kg on May 10, an increase by Rs.65 per kg due to a fall in the US dollar rate. The price remained the same on the next day, May 11.
- The price came down again to Rs.38,005 per kg on May 12, with the price being the same on the next day, May 13. The fall was due to the winning of Emmanuel Macron in the presidential election in France.
- The price of silver remained the same on the last day of the week.
May ’17- Week 3 (15th – 21st)
- In the third week of May, the price of the white metal showed an inclining trend. This is because of US Federal Reserve developments, easing of the US Dollar and a drop in industrial demand.
- Silver opened at the market at Rs.38,230 per kg on May 15 and went up to Rs.38,640 per kg on the next day, May 16.
- There was a further jump in price to Rs.38,995 per kg on May 17. However, the price dropped to Rs.38,335 on May 18 due to geopolitical developments involving the US and Russia.
- Prices dwindled down gradually in the next two days and the market closed at Rs.39,115 per kg on May 21.
May ’17 – Week 4 (22nd – 28th)
- The precious metal traded at Rs.39,435 per kg on May 22, a hopeful incline after the series of declines in the previous week.
- The price increased again to Rs.39,950 per kg on May 23, influenced by a sudden rise in industrial demand.
- During the course of this week, the price of the precious white metal saw a gradual incline, reaching Rs.40,190 per kg on May 28 as compared to Rs.39,435 per kg on May 22. This is an incline by Rs.755 per kg.
- This trend can be attributed to factors such as safe-haven buying due to geopolitical tensions surrounding US President Donald Trump and aggressive trading in the Asian stock markets.
May ’17 – Week 5 (29th – 31st)
- Though prices fell gradually in the last week of May, the overall trend showed an incline in prices for May.
- Silver traded at Rs.40,285 per kg on May 29, an increase from the previous week due to the blast in Manchester and the consequent fall in US dollar rate due to US Federal Reserve developments.
- As geopolitical tensions were on the rise, the price of silver further went up to Rs.40,440 per kg on May 30.
- There was an incline in the price of silver by 0.37% during May.
|April 1st Rate||Rs.42,570 per kg|
|April 30th Rate||Rs.40,040 per kg|
|Highest Rate in April||Rs.43,055 per kg on 15th and 16th April|
|Lowest Rate in April||Rs.40,040 on 29th and 30th April|
April 2017 - Week 1 (1st - 9th):
- The month of April in Trichy was a relatively poor period for silver trade as there wasn’t too much demand for the metal.
- When trading began on the 1st of April, silver was trading at Rs.42,570 per kg.
- Silver prices went down to Rs.42,435 per kg as requests from neighborhood coin producers and industrialists went took a hit.
- Rates went up just as they went down on 4th as silver trading rocketed to Rs.42,925 per kg - a Rs.490 increase in just a day’s time.
- After that sudden increase in demand, prices corrected themselves slightly to reach Rs.42,730 per kg on 5th.
- As demand fell on the 6th, silver rates went down again to reach Rs.42,570 per kg but went back up marginally to Rs.42,640 per kg as demand went up.
- Silver prices remained largely the same over the next two days - till the 9th - as demand sustained for most of this period.
April 2017 - Week 2 (10th - 16th):
- When the second week of April began, there was a slump in silver prices.
- Rates had gone from Rs.42,640 per kg to Rs.41,625 per kg on 10th and fluctuated over the next few days.
- On 11th, prices increased marginally to hit Rs.41,675 per kg as demand also went up from various quarters of the industry as well as coin makers.
- The 12th saw prices increase again as silver trading reached Rs.42,570 per kg.
- When trading began on 13th, silver prices had seen one of its biggest inclines as rates went up to Rs.43,030 per kg - a Rs.460 increase from the previous day - as demand went up.
- Rates remained at Rs.43,030 per kg on 14th but increased to Rs.43,055 per kg on the 15th before continuing at the same rate till the end of the week.
- Rates seen on the 15th and the 16th were the highest silver prices for the month of May.
April 2017 - Week 3 (17th - 23rd):
- The third week of May saw silver prices fluctuate as demand seemed to rattle after hitting a new high for the first time in a few months.
- When the third week began on 17th, silver was trading at Rs.43,055 per kg but went down to Rs.42,775 per gram on 18th as demand went down.
- On the 19th, silver rates went down again - for the third consecutive day - as demand showed no sign of picking up.
- However, there were sustained demand on the 19th and the 20th, which lead to rates remaining at Rs.42,365 per kg on both the days.
- The 21st again saw silver price tumble - this time by Rs.365 - to reach Rs.41,980 per gram and remained the same till the end of the week on the 23rd.
April 2017 - Week 4 (24th - 30th):
- Silver rates in Trichy were at their worst during the last week of April.
- When the week began, silver was trading at Rs.41,435 per gram, which then went down to Rs.40, 340 per gram.
- Rates went up briefly on the 26th to reach Rs.40,520 per gram but decreased again to Rs.40,285 per kg.
- There were plenty of fluctuations in demand which brought silver rates to Rs.40,390 per gram and then to Rs.40,040 per gram.
- On the last day of April, silver was trading at Rs.40,040 - which happened to be the lowest silver rate for the entire month.
|March 1st Rate||Rs.44,195 per kilogram|
|March 31st Rate||Rs.42,115 per kilogram|
|Highest Rate in March||Rs.44,200 per kilogram on March 2nd|
|Lowest Rate in March||Rs.40,040 per kilogram on March 15th|
Week 1 March 2017 (March 1st – March 5th)
- Silver opened the month of March trading at Rs.44,195 per kilogram.
- A decline in industrial demand and a stronger US Dollar saw silver prices drop to Rs.42,570 per kilogram on March 3rd.
- A marginal increase in demand from coin makers and industrialists saw Silver recover to Rs.43,295 per kilogram on March 4th which was sustained till the end of the week.
March ‘17 - Week 2 (6th to 12th)
- A stronger US Dollar saw silver open the second week of trading at Rs.42,925 per kilogram.
- A drop in demand from coin makers saw Silver slip to Rs.41,340 per kilogram on March 9th.
- An expected US Federal Interest Rate hike saw the US dollar strengthen, causing Silver rates to further slip to Rs.40,520 per kilogram on March 10th, which was sustained till the close of the week on March 12th.
March ’17- Week 3 (13th to 19th)
- A marginal increase in industrial demand saw Silver open the third week of trading at Rs.40,890 per kilogram.
- A decline in demand from coin makers and a stronger US dollar in light of expected US Federal Interest Rate hikes saw Silver slip to Rs.40,040 per kilogram on March 15th.
- A hike in industrial demand allowed Silver to recover to Rs.41,075 per kilogram on March 16th.
- A marginally stronger US Dollar saw Silver close the third week of trading at Rs.40,815 per kilogram.
March ’17- Weeks 4 (20th to 26th)
- A weakened US Dollar saw silver open the fourth week of trading at Rs.41,030 per kilogram.
- A strengthened US Dollar saw the price of Silver slip to Rs.40,890 per kilogram on March 21stt.
- Sustained industrial demand and demand from coin makers saw Silver climb to Rs.41,435 per kilogram on March 23rd which was sustained till March 24th.
- A slight decline from coin makers saw Silver close the fourth week of trading at Rs.41,340 per kilogram.
March ’17- Weeks 5 (27th to 31st)
- Sustained industrial demand and a weakened US Dollar saw Silver open the last week of trading at Rs.41,980 per kilogram.
- An increase in demand from coin makers saw Silver climb further to Rs.42,270 per kilogram on March 28th and March 29th.
- A weaker US Dollar caused Silver to climb to Rs.42,435 per kilogram on March 30th.
- A decline in demand from coin makers saw Silver close the trading for the month of March at Rs.42,115 per kilogram.
|February 1st Rate||Rs. 42,755 per kg|
|February 28th Rate||Rs. 44,085 per kg|
|Highest Rate in February||Rs. 44,140 per kg on 28th February|
|Lowest Rate in February||Rs. 42,080 per kg on 3rd February|
February 2017 - Week 1 (1st to 5th):
- When trading started for the month of February, silver was priced at Rs.42,755 per kg.
- This was due to an increase in both domestic and international demand.
- Prices increased to Rs.42,835 per kg on 2nd due as demand also increased.
- As demand couldn’t hold on rates went down to Rs.42,080 per gram on 3rd of February.
- Rates, as seen on 3rd, also happened to be the lowest rate for the metal for the month.
- When week 1 ended silver was trading at Rs.42,355 per kg.
February 2017 - Week 2 (6th to 12th):
- When week 2 began on 6th, silver was trading at Rs.42,505 per kg and went up to Rs.42,730 per kg as demand increased from both jewellers and industrialists.
- On 9th, silver prices went up marginally to Rs.42,775 per kg as demands sustained.
- The 10th saw prices fall to Rs.42,365 per kg on as demand went down in the domestic market after a brief surge over the previous two days.
- On 11th rates went up to Rs.42,570 per kg as the US dollar seemed to weaken slightly, leading to the sudden increase in prices.
- The second week of February ended with silver still trading at Rs.42,570 per kg.
February 2017- Week 3 (13th to 19th):
- The 13th saw silver prices go up significantly as US dollar crashed, which caused rates to go up to Rs.43,245 per kg.
- As the demand couldn’t be sustained rates went down to Rs.43,030 per kg on 14th February.
- On 15th, prices rose to Rs.43,110 per kg and then increased to Rs.43,480 per kg and remained the same on 16th as well.
- The third week of February ended with silver trading at Rs.43,400 per kg, owing to a sustained demand.
February 2017- Weeks 4 & 5 (20th to 28th):
- As demands varied from various sectors including jewellers, coin makers, and industrialists, silver prices fluctuated quite a bit over the last two weeks.
- On 20th, silver was trading at Rs.43,300 per kg and increased slightly to trade at Rs.43,085 on 21st February.
- As coin makers begun more silver, prices went up to Rs.43,910 - an increase of Rs.610 in within a couple of days.
- Silver prices remained at Rs.43,910 per kg on 25th February, as demand remained steady over the course of the days.
- Demand increase further as silver was seen trading at Rs.44,085 per kg on the last day of February.
- All in all, Trichysaw silver price trends increase by 3.11% for the month of February.
|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