Silver is a white, lustrous and precious metal. Throughout history, Silver has been valued as a precious metal. Apart from jewellery, Silver is used in bullion coins and bars, alongside Gold. Although Silver is more abundant than gold, it is much less abundant in pure form.
In addition to currency and jewellery, Silver is used (directly and indirectly as an alloy) in the following objects:
Silver has more applications than Gold. Hence, the rate of Silver is heavily influenced by industrial demand. Additional factors that affect the rate of Silver in Coimbatore are:
There are four ways to invest in Silver in Coimbatore:
Silver Coins - This is the most popular form of investment among the people. Silver coins are available in the denominations of 1-10 grams and so on. Silver coins can also be considered as a legal tender and used as currency. Silver coins offer immediate liquidity, and hence they are a popular investment option among individuals.
Bars and Ingots - Large traders, jewellers and individual retailers prefer to purchase Silver in the form of bars and ingots. A standard bar weighs around 1 Kg. Silver bars and ingots are an important source for individuals who seek to invest in large quantities of Silver for retail purposes. In addition, the bars can be further melted to lesser denominations or molded into jewellery.
Commodity Future Exchanges - Individuals, jewellers and traders can purchase Silver in large substantial quantities directly through the Commodity Future Exchange.
Jewellery - For the common households in Coimbatore, Silver jewellery and Silverware are a popular option of investment.
It is important to check and monitor the prevailing rate of Silver in Coimbatore. Additionally, you should look into the following factors before purchasing Silver in Coimbatore:
Trend of Silver Rate in Coimbatore for July 2019 (rates per kg)
| Silver Rates | 1 Kg |
| 1st July rate | Rs.40,578 |
| 31st July rate | Rs.44,965 |
| Highest rate in July | Rs.44,965 on July 31 |
| Lowest rate in July | Rs.40,560 on July 9 |
| Overall performance | Rising |
| % Change | +10.81% |
Trend of Silver Rate in Coimbatore for June 2019 (rates per kg)
| Silver Rates | 1 Kg |
| 1st June rate | Rs.39,600 |
| 30th June rate | Rs.40,500 |
| Highest rate in June | Rs.40,500 on June 29 |
| Lowest rate in June | Rs.39,450 on June 2 |
| Overall performance | Rising |
| % Change | +2.27% |
Trend of Silver Rate in Coimbatore for May 2019 (rates per kg)
| Silver Rates | 1 Kg |
| 1st May rate | Rs.40,500 |
| 31st May rate | Rs.39,500 |
| Highest rate in May | Rs.40,700 on May 3 |
| Lowest rate in May | Rs.39,360 on May 25 |
| Overall performance | Falling |
| % Change | -2.47% |
Trend of Silver Rate in Coimbatore for April 2019 (rates per kg)
| Silver Rates | 1 Kg |
| 1st April rate | Rs.40,647 |
| 30th April rate | Rs.40,000 |
| Highest rate in April | Rs.40,863 on April 10 |
| Lowest rate in April | Rs.40,000 on April 23 |
| Overall performance | Falling |
| % Change | -1.59% |
Trend of Silver Rate in Coimbatore for March 2019 (rates per kg)
| Silver Rates | 1 Kg |
| 1st March rate | Rs.43,300 |
| 31st March rate | Rs.41,500 |
| Highest rate in March | Rs.43,300 on March 1 |
| Lowest rate in March | Rs.41,100 on March 8 |
| Overall performance | Falling |
| % Change | -4.16% |
Trend of Silver Rate in Coimbatore for February 2019 (rates per kg)
| Silver Rates | 1 Kg |
| 1st February rate | Rs.41,450 |
| 28th February rate | Rs.43,300 |
| Highest rate in February | Rs.43,700 on February 26 |
| Lowest rate in February | Rs.41,300 on February 4 |
| Overall performance | Rising |
| % Change | +4.46% |
Precious metals such as Silver and Gold are subjected to Goods and Services Tax. A 3% GST is applicable on the final price of Silver.
Before purchasing Silver, it is very important for an individual to check the prevailing rate. You can also compare the prices from different banks, jewellers or retailers.
Before purchasing any form of Silver in Coimbatore, you should check the prevailing Silver market rate. This refers to today’s Silver price in Coimbatore.
The Bureau of Indian Standards (BIS) is the primary hallmarking agency. It is the national Standards body of India who authenticates the purity of Silver in India. Hallmarking is the process which records and determines the metal content in Gold/Silver articles. Hallmarked Silver will contain the following information:
In conclusion, Silver is a good investment option if you can’t afford to purchase Gold. However, you must ensure that you purchase Silver from a certified and established Jeweller.
What is the rate of Silver per gram in Coimbatore?
The rate of Silver per gram in Coimbatore is Rs. 44.52 as on 6th August 2019.
What is the rate of Silver for 10 grams in Coimbatore?
The rate of Silver per 10 grams in Coimbatore is Rs. 445.20 as on 6th August 2019.
What is the rate of Silver for 100 grams in Coimbatore?
The rate of Silver per 100 grams in Coimbatore is Rs. 4,452 as on 6th August 2019.
What is the rate of Silver for 1 kg in Coimbatore?
