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Silver Price in Trivandrum
Silver is a sought-after precious metal in Trivandrum. Besides its expanding industrial usage, it is bought in various forms such as traditional intricate jewellery, silverware, articles used for ritualistic purposes in addition to artefacts. Many consumers in Trivandrum present trendy gift articles made of silver during the wedding season. For many consumers in Trivandrum, silver is considered as a harbinger of good luck, a symbol of social prestige and prosperity.
Many consumers belonging to the middle-class and upper middle-class sections buy the white precious metal as they consider it as a safe haven of investment in the long term against any kind of economic instability. Many small investors in Trivandrum buy silver given that it is more affordable than the yellow metal. Silver is respected for its intrinsic value and instant acceptability across the world.
Trend of Silver Rate in Trivandrum for August 2016 (rates per kg)
|1st August||Rs.48,100 per kilogram|
|31st August||Rs. 44,600 per kilogram|
|Highest Price||Rs.48,400 per kilogram on 03rd August|
|Lowest Price||Rs.44,200 per kilogram from 26th to 29th August|
|Trend||Decline in silver prices|
August '16 – Weeks 1 (1st to 7th)
- Silver traded at Rs.48,100 per kilogram on 01st August.
- After a slight decline in silver prices on 2nd August, silver hit Rs.48,400 per kilogram which is the highest prices recorded in the month of August.
- Due to subdued demand from domestic market, silver prices fell slowly yet consistently from 4th to 7th August.
- Silver closed at Rs.47,200 per kilogram.
August '16 – Week 2 (8th to 14th)
- Silver prices declined by Rs.700 per kilogram and traded at Rs.46,500 per kilogram on the first and second day of the week due to Fed rate hike speculation and well performing U.S economy data.
- Silver prices increased by Rs.600 per kilogram and remained steady at Rs.47,100 per kilogram on 10th, 11th and 12th of August.
- Due to muted demand and weak trend overseas, silver prices fell and traded at Rs.46,700 per kilogram on 13th and 14th of August.
August '16 – Week 3 (15th to 21st)
- Silver opened at Rs.46,700 and remained unchanged till 17th of August.
- Silver fell by Rs.200 and traded at Rs.46,500 on 18th and 19th of August due to lacklustre demand from jewellers and coin makers.
- Silver further drifted and closed at Rs.46,000 per kilogram.
August '16 – Week 4 (22nd to 28th)
- On the first day of the week, silver prices fell by Rs.1000 and was sold at Rs.45,000 due to Fed rate hike speculation.
- Though there was a slight increase of Rs.200 per kilogram in silver prices on 23rd of August, silver prices began to decline from 24th of August.
- Silver prices hit Rs.44,200 per kilogram on the 26th of August which is also the lowest silver rate recorded in the month of August.
- Silver remained low and maintained the lowest silver rate of Rs.44,200 per kilogram till the last day of the week.
August '16 - Week 5 (29th to 31st)
- The lowest silver rate of the month was recorded from 26th to 29th of the month when silver was traded at Rs.44,200 per kilogram.
- Silver prices slightly increased by Rs.400 per kilogram and traded at Rs.44,600 per kilogram on the last two days of the week.
- Fed rate hike speculation coupled with strong U.S employment data and lack of demand from coin makers led to decrease in silver prices throughout the week.
|1st July rate||Rs.43,500|
|31st July rate||Rs.47,500|
|Highest rate in July||Rs.48,500 on the 6th of July|
|Lowest rate in July||Rs.43,500 on the 1st of July|
July'16 - Week 1 and 2 (1st to 10th)
- Silver prices were recorded at Rs.43,500 on the 1st of July.
- An increase by Rs.1,500 drove prices up to Rs.45,000 on the 2nd to close the first week of the month with a significant increase.
- The price of silver increased by Rs.2,500 on the first day of the second week of July, and remained constant at Rs.47,500 until the 5th.
- An increase of Rs.1,000 on the 6th drove prices up to Rs.48,500 before a decline by Rs.500 brought them down to Rs.48,000 on the 7th.
- Prices fell by Rs.1,000 on the 8th of July, and remained constant until the end of the week at Rs.47,000.
July'16 - Week 3 (11th to 17th)
- Silver started the third week of July trading at Rs.46,400 per kilogram.
- A marginal increase on the 12th was followed by a significant rise on the 13th as prices rose to Rs.47,400.
- An increase by Rs.100 took prices up to Rs.47,500 on the 14th, followed by another increase of Rs.100 on the 15th before a decline of Rs.100 was recorded on the 16th.
- Prices remained stable at Rs.47,500 on the 16th and 17th before a decline on the 18th saw silver close the week at Rs.47,100 per kilogram.
July '16 - Week 4 (18th to 24th)
- Silver rates fell by Rs.400 on the first day of the fourth week of July, and stood at Rs.47,100.
- A decline by Rs.600 on the 19th took prices down to Rs.46,500, followed by a further decline by Rs.100 which saw prices plunge to Rs.46,400 on the 20th.
- Prices fell by Rs.400 on the 21st of July and prices stood at Rs.46,000 until the end of the week.
July‘16 - Week 5 (25th to 31st)
- Unchanged from the previous week, silver prices started the last week of July at Rs.46,000 per kilogram, after which an increase of Rs.500 pushed prices up to Rs.46,500 where they remained for another day.
- An increase by Rs.1,300 on the 28th saw prices rise to Rs.47,800, followed by a decline on the 29th which brought prices down to Rs.47,500 and they remained stable until the end of the month thanks to firming international as well as domestic trends.
|June 1st Rate||Rs.38,800 per kg|
|June 30th Rate||Rs.43,500 per kg|
|Highest Rate in June||Rs.43,500 per kg on 30th of June|
|Lowest Rate in June||Rs.38,500 per kg on the 2nd of June|
Jun'16 - Week 1 (1st to 4th)
- Silver traded at Rs.38,800 per kg on the 1st of June.
- Silver came down to Rs.38,500 on 2nd of June and the rates stayed the same on the 3rd of June.
- Silver closed the week at Rs.39,100 per kg on the 4th of June.
Jun'16 - Week 2 (5th to 11th)
- Silver traded at Rs.39,100 per kg on the 5th of June.
- Silver traded at Rs. 39,400 on the 8th of June.
- The price of silver hit Rs. 40,900 per kg on the 10th of June.
- Silver hit the highest for the week on the 11th of June at Rs.41,000 per kg.
Jun'16 - Week 3 (12th to 18th)
- Silver traded at Rs. 41,000 per kg on the 12th of June.
- The price of silver dropped down by Rs.200 per kg on the 13th as silver traded at Rs.40,800.
- Silver managed to pick up again as it hit Rs.42,100 per kg on the 16th of June.
- Silver traded at Rs.41,500 per kg on the 18th of June.
Jun'16 - Week 4 (19th to 25th)
- Silver traded at Rs.41,500 per kg on the 19th of June.
- On the 21st of June, silver traded at Rs.42,000 per kg.
- Silver dropped to Rs.41,200 per kg on the 23rd of June.
- Silver traded at Rs.42,000 on the 25th of June.
Jun'16 - Week 5 (26th to 30th)
- The price of silver remained unchanged and traded at Rs.42,000 per kg on the 26th of June.
- Silver witnessed an incline of Rs.400 and traded at Rs.42,400 per kg on the 28th of June.
- Silver closed the month at Rs.43,500 per kg on the 30th of June.
|1st May rate||Rs. 41,900|
|31st May rate||Rs. 38,500|
|Highest rate in May||Rs. 41,900 on 1st and 2nd of May|
|Lowest rate in May||Rs. 38,500 on 30th and 31st of May|
May '16 - Weeks 1 and 2 (1st to 8th)
- Silver prices started steady before falling slightly towards the middle of the week and then recovering.
- Silver traded at Rs. 41,900 per kg on the 1st and 2nd of May, dropping to Rs. 41,600 per kg on the 3rd of May.
- A dip in demand pushed prices to Rs. 41,000 per kg on the 4th of May, as industrial demand dropped.
- Prices rose slightly by the end of the week, with silver trading at Rs. 41,400 per kg on the 8th of May.
May '16 -Week 3 (9th to 15th)
- Prices stayed constant for the first two days before prices fell as demand slowed.
- Silver traded at Rs. 41,300 per kg on the 8th of May.
- The Dollar strengthened slightly as the week progressed, leading to demand dipping.
- The price fell to Rs. 40,900 per kg on the 11th of May, a decrease of Rs. 400 per kg.
- A surge in demand pushed prices to Rs. 41,200 per kg on the 15th of May.
May '16 - Week 4 (16th to 22nd)
- Silver prices fell as the markets strengthened, as speculation of an interest rate hike kept the Dollar high.
- Silver traded at Rs. 41,200 per kg, keeping constant from the last week.
- The price fell by Rs. 400 per kg, to Rs. 40,800 per kg on the 17th of May.
- The strengthening Dollar led to prices falling to Rs. 39,600 per kg on the 22nd of May.
May '16 - Weeks 5 and 6 (23rd to 31st)
- Prices continued to fall as the markets strengthened, with the Dollar continuing to rise.
- Silver traded at Rs. 39,600 per kg on the 23rd of May, with prices falling for the rest of the week.
- The Asian stock markets also posted gains, leading to reduced demand from those sectors, further leading to a drop in demand and price.
- Silver traded at Rs. 38,500 on the 30th and 31st of May, as market speculation of positive data from the U.S. job market pushed demand for silver lower.
|April 1st Rate||Rs.36,800|
|April 30th Rate||Rs.42,000|
|Highest Rate in April||Rs.42,000 on the 29th of April|
|Lowest Rate in April||Rs.35,900 on the 4th of April|
|Overall Performance||Gain / Positive|
Apr'16 - Weeks 1 & 2 (1st to 10th)
- Silver rates declined on the third day of the month following which a steady incline was recorded over the next two days before they gained stability on the 7th of the month.
- Prices were recorded at Rs.36,800 on the first day of the month and Rs.36,300 on the tenth.
- Rates began to increase on the fifth day of trading thanks to firming domestic and international trends in addition to an 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.36,900 on the first day of the month and Rs.38,400 on the last.
- Rates increased by Rs.1500 during the course of the week.
Apr ‘16 - Week 4 (18th to 24th)
- The fourth week of April recorded consistent increases as the week progressed barring a slight decline on the 22nd after which they remained constant until the end of the week.
- Prices were recorded at Rs.38,500 on the first day of the month and Rs.40,300 on the last.
- The penultimate week recorded the highest jump in prices as rates rose by Rs.1800 over the seven days.
Apr ‘16 - Week 5 (25th to 30th)
- Silver prices continued their incline over the last week of April barring slight decline on the second day of trading.
- Prices were recorded at Rs.40,400 on the first day of the last week and Rs.41,900 on the last day of the month.
|1st March rate||Rs.36,400|
|31st March rate||Rs.36,400|
|Highest rate in March||Rs.37,700 from 21st to 24th|
|Lowest rate in March||Rs.36,300 on 29th and 30th|
|Overall performance||No change|
Mar'16 - Week 1 (1st to 6th)
- Silver rates were constant at Rs.36,400 in the first week of March.
Mar'16 - Mar'16 - Week 2 (7th to 13th)
- Silver rates were again stable at Rs.36,400 in the second week.
Mar'16 - Week 3 (14th to 20th)
- There were no fluctuations in the third week also as silver continued to be traded at Rs.36,400.
Mar'16 - Week 4 (21st to 27th)
- Silver prices experienced the first fluctuation this month as prices were Rs.37,700 at the start of the week and Rs.36,300 by the end of it.
Mar'16 - Week 5 (28th to 31st)
- Silver prices were volatile in last week’s trading, losing Rs.200 on the whole.
- Prices were Rs.36,600 on 28th and Rs.36,400 on 31st.
Silver as an investment
Silver, also known as ‘poor man’s gold’ is in demand as it is within the reach of most consumers (10 grams of silver coin costs around Rs.340) apart from being viewed as a safe hedge against inflation. For many consumers in Trivandrum, sterling grade silver is considered a good mode of investment in the long term. Also known as grade 925, sterling grade is made up of 92.5% silver and 7.5% copper or any other metal.
Physical silver: Many consumers in Trivandrum buy silver coins and bars. Silver is also sought in the form of silverware and traditional ornaments. There are several major jewellery stores in Trivandrum which offer various kinds of silver articles. Attractive items of jewellery such as toe-rings, necklaces and bracelets among many others are also sold.
Silver contracts: Silver is traded in National Multi Commodity Exchange (NMCE), Multi Commodity Exchange (MCX) and National Commodity & Derivatives Exchange (NCDEX). SILVERM is traded in units of 5 kg while Silver micro is traded in 1 kg (unit).
Silver rate in Trivandrum
Silver rate in Trivandrum depends on a host of factors influenced by various geo-political and economic developments. 1 kg of the precious metal was pegged at Rs.40197 at the start of 2015 but decreased by -5.9% to Rs.37800. The price of silver continued to slide in the following months of March and April barring a mini rally in May where the 1 kg of silver was pegged at Rs.40530. The price of silver plummeted by -8.1% to Rs.37237. The downward slide continued in June and July before rising marginally by 2.6% at Rs.36147 in August. The price of silver fell by -3.0% to Rs.35049 in September. The months of October and November witnessed a similar trajectory as price of 1 kg of silver fell by around -2.2%. The precious metal was pegged Rs.34343 in December.
Also Check Silver Price in NearBy Cities of Trivandrum
|Silver Rate In Malappuram||Silver Rate In Kochi||Silver Rate In Kozhikode|
|Silver Rate In Kannur||Silver Rate In Salem||Silver Rate In Coimbatore|
|Also Know: Gold Rate in Trivandrum|
Read more on Silver
- Silver – Poor Man’s Gold
- Silver Bars and Silver Coins
- Silver Jewelry
- Why Should You Invest in Silver?
- Are Long Term Silver Investments a Good Idea?