• Silver Rate in Trichy

    Daily Silver Rates
    Date Silver (1 gram) Bar Silver (1 Kg)
    21 May 2018 ₹ 43.1 ₹ 43,100
    20 May 2018 ₹ 43.1 ₹ 43,100
    18 May 2018 ₹ 43 ₹ 43,000
    17 May 2018 ₹ 43.2 ₹ 43,200
    16 May 2018 ₹ 43 ₹ 43,000
    15 May 2018 ₹ 43.3 ₹ 43,300
    14 May 2018 ₹ 43.6 ₹ 43,600
    11 May 2018 ₹ 43.5 ₹ 43,500
    10 May 2018 ₹ 43.3 ₹ 43,300
    09 May 2018 ₹ 43.1 ₹ 43,100

    *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.

    Trend of Silver Rate in Trichy for April 2018 (rates per kg)

    Parameters Silver price (per kg)
    April 1 Rate Rs.41,400 per kg
    April 30 Rate Rs.42,300 per kg
    Highest Rate in April Rs.43,800 per kg on 20 and 22 April
    Lowest Rate in April Rs.41,000 per kg on 5 April
    Overall Monthly Performance Incline
    Percentage Change 2.17%

    Trend of Silver Rate in Trichy for March 2018 (rates per kg)

    Parameters

    Silver price (per kg)

    March 1 Rate

    Rs.41,100 per kg

    March 31 Rate

    Rs.41,400 per kg

    Highest Rate in March

    Rs.41,900 per kg on 7 March

    Lowest Rate in March

    Rs.41,000 per kg on 19 and 21 March

    Overall Monthly Performance

    Incline

    Percentage Change

    0.72%

    Trend of Silver Rate in Trichy for February 2018 (rates per kg)

    Parameters Silver price (per kg)
    Silver Rate on 1st February 2018 Rs.42,600 per kg
    Silver Rate on 28th February 2018 Rs.41,200 per kg
    Highest Rate in February Rs.42,600 per kg on 1 and 2 February
    Lowest Rate in February Rs.40,600 per gram on 10 and 11 February
    Overall Monthly Performance Decline
    Percentage Change -3.28%

    February 2018 - Week 1 (1st - 4th):

    • The month began in Trichy with silver trading at Rs.42,600 per kg - the highest recorded monthly figure - on the 1st after the US dollar and equities lost ground ahead of the US jobs data later during the week.
    • Thanks to steady demand from coin makers and industrial units amid the positive trend overseas, silver rate in Trichy were recorded holding firm at Rs.42,600 per kg the following day.
    • However, the stronger than expected employment data resulted in the US dollar regaining its lost sheen and silver was priced at Rs.41,700 per kg on the 3rd.
    • Silver price in Trichy remained unchanged at Rs.41,700 per kg with steady domestic demand for the remainder of the week.

    February 2018 - Week 2 (5th - 11th):

    • When trading commenced for the second week, the industrial metal prices recorded holding at Rs.41,500 per kg on the 5th after a weak trend overseas led to a decline in demand.
    • With the US dollar losing against other apex currencies, silver rate in Trichy surged to Rs.41,900 per kg on the 6th.
    • However, with the dollar index regaining lost ground, prices plunged to Rs.41,500 per kg the next day.
    • With industrial demand taking a hit against the strong dollar rates, silver rates dropped further to Rs.40,800 per kg on the 8th.
    • Silver price in Trichy rebounded to Rs.41,000 per kg on the 9th before plummeting to Rs.40,600 per kg - the lowest recorded monthly figure - on the 10th amid the strengthening US dollar and equities market.
    • Poor domestic demand compounded by weak global cues resulted in silver rates holding at Rs.40,600 per kg for the remainder of the week.

    February 2018 - Week 3 (12th -18th):

    • Silver price in Trichy were greatly influenced by the US inflation data released during the week.
    • The week began with the white metal priced at Rs.40,900 per kg on the 12th.
    • With markets refraining from making purchases ahead of the US inflation data, the US dollar dropped. This led to silver being priced at Rs.41,300 per kg on the 13th.
    • The 14th saw silver rates rising to Rs.41,400 per kg before surging further to Rs.41,800 per kg on the 15th after the dollar weakened with investors eyeing on the inflation data for clues on the pace of interest rate hikes during the year.
    • With the US dollar index touching near three-year lows in the global market, prices stabilised at Rs.41,700 per kg on the 16th.
    • With investors gravitating on safe-haven assets to hedge against inflation concerns, demand for the white metal rose. This led to silver rate in Trichy holding steady at Rs.41,700 per kg until the 18th.

    February 2018 - Week 4 (19th - 25th):

    • When trading commenced for the week, silver price in Trichy were recorded holding at Rs.41,600 per kg on the 19th.
    • Silver rates dropped to Rs.41,200 per kg on the 20th after the US dollar gained against a basket of other emerging currencies.
    • Though prices remained untouched at Rs.41,200 per kg on the 21st, silver rate in Trichy rose to Rs.41,400 per the following day with an increased demand from local industries and coin manufacturers.
    • On the 23rd, the industrial metal prices were recorded holding at Rs.41,600 per kg with strong demand amid the positive trends overseas.
    • However, with the US dollar index and equities gaining in the international markets, rates plunged to Rs.41,500 per kg on the 24th.
    • The week concluded with silver closing at Rs.41,500 per kg on the 25th owing to steady demand from coin makers and industries.

    February 2018 - Week 5 (26th - 28th):

    • The last week commenced with silver trading at Rs.41,600 per kg on the 26th ahead of the Federal Reserve chairman Jerome Powell’s first testimony to address the nation regarding inflation concerns.
    • With traders and investors eyeing on the Fed chairman’s speech for clues on the pace of US interest rate hikes, the dollar weakened. This led to silver rate in Trichy surging to Rs.41,700 per kg on the 27th.
    • However, the dollar regained lost ground after Jerome Powell vowed to save the nation from further economic crisis while continuing with the gradual Fed rate hikes during the year. This resulted in silver being priced at Rs.41,200 per kg on the 28th.
    • Silver price in Trichy declined by 3.28% due to the weak global cues that resulted in reduced demand for the metal.

    Trend of Silver Rate in Trichy for January 2018 (rates per kg)

    Parameters Silver price (per kg)
    Silver rate on 1st January 2018 Rs.38,925 per kg
    Silver rate on 31st January 2018 Rs.42,200 per kg
    Highest Rate in January Rs.42,700 per kg on 29 January
    Lowest Rate in January Rs.38,925 per kg on 1, 2 and 10 January
    Overall Monthly Performance Incline
    Percentage Change 8.41%

    January 2018 - Week 1 (1 - 7):

    • When trading began in Trichy, silver was recorded trading at Rs.38,925 per kg on the 1st This was also the lowest recorded monthly figure in the city.
    • Thanks to steady demand from local coin makers and industrial units, prices remained untouched at Rs.38,925 per kg the next day.
    • Rates surged to Rs.39,110 per kg on the 3rd before plunging to Rs.38,995 per kg on the 4th after demand for the metal declined amid the strengthening US dollar.
    • However, demand picked up with the dollar index losing against a basket of other emerging currencies towards the end of the week.
    • Silver prices rose to Rs.39,265 per kg on the 5th which rose further to Rs.39,355 per kg on the 6th following an increase in demand amid the positive trends overseas.
    • Steady demand coupled with strong global cues resulted in silver rates remaining untouched at Rs.39,355 per kg for the remainder of the week.

    January 2018 - Week 2 (8 - 14):

    • Silver prices were recorded holding steady at Rs.39,355 per kg on the 8th when the week began amid positive overseas trends.
    • However, with the US dollar gaining against other apex currencies in the global markets, demand for the metal declined. This led to the metal being priced Rs.39,115 per kg and Rs.38,925 per kg on the 9th and the 10th respectively.
    • However, with demand picking up after an increase in offtake by industries and coin makers, prices surged to Rs.39,110 per kg on the 11th.
    • Strong global cues coupled with steady domestic demand resulted in the white metal prices remaining untouched at Rs.39,110 per kg the following day.
    • Silver rates rose to Rs.39,265 per kg on the 13th which surged further to Rs.39,355 per kg on the 14th due to a decline in the US dollar index value in the international markets.

    January 2018 - Week 3 (15 -21):

    • The third week saw silver prices rising initially before plummeting on poor global cues towards the end of the week.
    • Silver was recorded trading relatively higher at Rs.39,680 per kg on the 15th as demand for the metal picked up amid the weakening equities and the US greenback.
    • Prices dropped slightly to Rs.39,670 per kg on the 16th and continued to remain unchanged at the same rate the next day.
    • The US dollar, however, regained lost ground and pushed demand lower for the industrial metal. This led to silver being priced at Rs.39,265 per kg on the 18th.
    • Though the white metal prices dropped to Rs.39,115 per kg on the 19th, silver rates rebounded to Rs.39,265 per kg on the 20th following an uncharacteristic increase in demand in the domestic markets.
    • Steady demand from coin manufacturers and industries despite the weak global cues resulted in the industrial metal being priced at Rs.39,265 per kg for the rest of the week.

    January 2018 - Week 4 (22 -28):

    • Strong safe-haven demand compounded by positive global cues resulted in silver rates rising significantly during the week.
    • When trading began for the week, the industrial metal was priced at Rs.39,265 per kg on the 22nd.
    • Steady domestic demand from local coin makers and industrial units amid the firm trends overseas resulted in the metal prices holding steady at Rs.39,265 per kg until the 24th.
    • The 25th, however, saw silver rates surging to Rs.40,285 per kg on the 25th after investors and traders speculating over possible US government shutdown concerns ramped up safe-haven purchases.
    • Thanks to strong global demand amid the strong global cues, prices remained untouched at Rs.40,285 per kg until the end of the week.

    January 2018 - Week 5 (29 - 31):

    • The final week commenced with silver opening on a stronger note with the metal priced at Rs.42,700 per kg - the highest recorded monthly figure- on the 29th with an increased domestic demand brought about the positive trends overseas.
    • However, with markets eyeing on the two-day monetary policy meeting at the US Federal Reserve, the US dollar surged.
    • The strengthening greenback coupled with firmer equities resulted in silver rates holding steady at Rs.42,200 per kg on the 30th and the 31st.
    • Silver prices in Trichy rose by 8.41% owing to the strong trends that pushed rates higher during the month.

    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
    Percentage Change 2.70%

    December 2017 - Week 1 (1st - 10th)

    • Silver was priced at Rs.38,230 per kg in Trichy when trade exchanges opened for the month of December.
    • Prices seemed to fall for majority of this week as demand from local circles remained weak while the US dollar was holding steady.
    • The 2nd saw silver price in Trichy drop to Rs.38,120 per kg and continued at this rate on the 3rd before falling again to Rs.37,965 per kg on the 4th of December.
    • Rates fell over the next two days as well with the metal trading at Rs.37,865 per kg on the 5th and then to Rs.37,600 per kg on the 6th.
    • With demand showing little signs of rising, amidst a rising dollar, silver rates in Trichy fell considerably to Rs.37,180 per kg on the 7th of the month.
    • The 8th saw silver rates decline to Rs.36,715 per kg and, as demand remained steady, continue till the end of the week.

    December 2017 - Week 2 (11th - 17th)

    • Overnight trading positions pushed silver rates up on the 11th of December and the white metal traded at Rs.36,920 per kg.
    • The rise was short lived and prices decreased to Rs.36,620 per kg on the 12th before dropping to Rs.36,545 per kg - the lowest silver rate for the month.
    • From the 13th onwards, silver rates were on the incline, thanks to a declining dollar and a rising local demand.
    • Silver traded at Rs.37,295 per kg on the 14th, mostly due to an increased off take from local jewellers and industrial units.
    • Silver rate in Trichy fell to Rs.37,235 per kg on the 15th as demand subsided, which then pushed prices down to Rs.36,920 per kg on the 16th of the month..
    • The final day of this week, i.e, the 17th saw silver trade at Rs.37,180 per kg as a downturn in the equity markets pushed silver rates up.

    December 2017 - Week 3 (18th - 24th)

    • When the third week began on the 18th of December, Silver was trading Rs.37,600 per kg. This figure increased to Rs.38,365 per kg on the 19th, due to heightened trading.
    • The 21st, however, saw silver rate in Trichy drop to Rs.37,600 per kg as sales dropped soon after the previous day’s trade.
    • Silver prices in Trichy remained at Rs.37,600 per kg on the 22nd before rising slightly to Rs.37,865 per kg.
    • When the week ended, the white metal was still seen trading at Rs.37,865 per kg.

    December 2017 - Week 4 (25 th- 31st)

    • The final week of December and 2017 saw silver prices start on a relative low before rising to month-high figures towards the end.
    • When trading commenced for the 25th of December, the white metal was priced at Rs.38,395 per kg. Due to a weak demand, rates dropped to Rs.38,005 per kg the next day.
    • However, a renewed year-end demand brought about by positive global cues pushed silver rates up. The white metal traded at Rs.38,455 per kg on the 27th of December.
    • Due to a weak US dollar performance, silver prices in Trichy went up to Rs.38,815 per kg on the 28th of the month.
    • The 29th saw silver price incline as well to Rs.38,925 per kg before rising to Rs.39,265 per kg the next day.
    • Silver was seen trading at Rs.39,265 per kg - the month’s highest rate - on the final day of the year, thereby ending the year on a high note.
    • Silver price in Trichy trends saw a 2.70% incline this month owing to a surge witnessed towards the latter half of the month.

    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
    Percentage Change 2.70%

    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
    Percentage Change -0.24%

    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
    Percentage Change -2.12%

    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
    Percentage Change 2.73%

    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
    Percentage Change 0.32%

    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.
    Parameters Silver price
    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
    Percentage Change -3.54%

    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
    Overall Performance Incline
    Percentage Change 0.37%

    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
    Overall Performance Decline
    Percentage Change -0.059%

    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
    Overall Performance Decline
    Percentage Change -4.706%

    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
    Overall Performance Incline
    Percentage Change +3.11%

    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
    Overall Performance Incline
    Percentage Change +7.33%

    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%.

    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

    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.

      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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