• Investment
  • Car
  • Bike
  • Taxi
  • Term Life
  • Health
  • Travel

Silver Rate in Coimbatore

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:

  • Solar Panels
  • Water Filtration
  • Ornaments
  • High-value tableware
  • Utensils
  • Silverware
  • Electrical Contacts
  • Conductors
  • Specialized mirrors and window coatings
  • Silver compounds (disinfectants, bandages, wound dressings, catheters, medical instruments)
  • Photographic/X-Ray Films

Factors affecting Silver rate in Coimbatore

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:

  • Fluctuating industrial demand
  • Store of value demand
  • Geo-political uncertainties
  • Rising crude oil prices
  • Depreciating dollar value
  • Government policies on major export and import destinations
  • Sales by central banks
  • Direction of gold prices and direction of other commodity prices

How to invest in Silver in Coimbatore?

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.

Things to remember before purchasing Silver in Coimbatore

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:

  • Avoid Silver with Nickel plating as it is harmful for the human skin.
  • Check for the authenticity and purity grade of Silver. This can be assessed by a
  • Hallmark.
  • Look into the overall craftsmanship, the intricacy of Silver Jewellery designs, the weight of the Silver Jewellery items and any marks, flaws or areas of tarnish.

Six month’s Silver rate in Coimbatore

Trend of Silver Rate in Coimbatore for July 2019 (rates per kg)

Silver Rates1 Kg
1st July rateRs.40,578
31st July rateRs.44,965
Highest rate in JulyRs.44,965 on July 31
Lowest rate in JulyRs.40,560 on July 9
Overall performanceRising
% Change+10.81%

Trend of Silver Rate in Coimbatore for June 2019 (rates per kg)

Silver Rates1 Kg
1st June rateRs.39,600
30th June rateRs.40,500
Highest rate in JuneRs.40,500 on June 29
Lowest rate in JuneRs.39,450 on June 2
Overall performanceRising
% Change+2.27%

Trend of Silver Rate in Coimbatore for May 2019 (rates per kg)

Silver Rates1 Kg
1st May rateRs.40,500
31st May rateRs.39,500
Highest rate in MayRs.40,700 on May 3
Lowest rate in MayRs.39,360 on May 25
Overall performanceFalling
% Change-2.47%

Trend of Silver Rate in Coimbatore for April 2019 (rates per kg)

Silver Rates1 Kg
1st April rateRs.40,647
30th April rateRs.40,000
Highest rate in AprilRs.40,863 on April 10
Lowest rate in AprilRs.40,000 on April 23
Overall performanceFalling
% Change-1.59%

Trend of Silver Rate in Coimbatore for March 2019 (rates per kg)

Silver Rates1 Kg
1st March rateRs.43,300
31st March rateRs.41,500
Highest rate in MarchRs.43,300 on March 1
Lowest rate in MarchRs.41,100 on March 8
Overall performanceFalling
% Change-4.16%

Trend of Silver Rate in Coimbatore for February 2019 (rates per kg)

Silver Rates1 Kg
1st February rateRs.41,450
28th February rateRs.43,300
Highest rate in FebruaryRs.43,700 on February 26
Lowest rate in FebruaryRs.41,300 on February 4
Overall performanceRising
% Change+4.46%

How does GST impact the rate of Silver in Coimbatore?

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.

Importance of checking Silver rate in Coimbatore

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.

How to buy Silver after checking Silver price in Coimbatore?

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.

What is BIS Hallmarked Silver Rate 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:

  • BIS Mark
  • Purity Grade (ranging from 999.9 to 999 for fine silver and for Silver alloys, jewellery and artifacts, the Silver purity grade is 970, 925, 900, 835, 800).
  • Hallmarking Centre’s Identification Number
  • Jeweller’s identification Mark
  • Year of marking - denoted by a code letter (e.g. ‘R’ for year 2013).

Conclusion

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.

FAQ's On Silver Rate in Coimbatore

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?

  • The rate of 1 kg Silver in Coimbatore is Rs. 44,520 as on 6th August 2019.
Leave a rating!
1.0 (0 votes)