Many of us especially those who belong to this generation prefer silver over gold most of the time. So, we have here, Silver Rate in Chennai for you which you can refer to whenever you require and need to analyze the price movements.
Silver has its charm and silver ornaments look so classy and the price of silver is also reasonable. However, this article is about the investors who are thinking about investing their money in this commodity and also earning from the same.
The page has Silver Rate in Chennai Today which means that the price of the commodity on this page is integrated on a real-time basis and it is updated as the price changes in the market.
So, you get Silver Rate in Chennai Live updates and that helps you a lot in your trading especially if you are day-trading.
Apart from these, the article will cover the previous six months’ price details, performance, and other crucial facts. However, the most interesting facts about silver and its pricing are also covered but, at the end of the article.
Silver Rate in Chennai – 10 gm, 100 gm & 1 kg Silver Price in Chennai Today
Here in this section of the article, you will read about the Silver Price in Chennai Today and for the previous day.
The price for both days is given, to grant you an idea about the change in the price over a day. This is an important aspect and information for the intraday traders as well as long-term investors.
The price change is an important factor to analyze the price movement. The price is given for 1 Kg Silver Rate in Chennai, 10 grams as well as for 100 grams of silver in the city of Chennai.
It is important for you to understand why the price changes and how much is the change, before you make any decision about your investments.
Also, Check out the Gold Rate in Chennai Today
Silver Price in Madras for Last 15 Days
When you are trading or investing, you need to refer to the historical prices of the asset. Here, the Silver Price in Chennai is given for the past fifteen days. The price for the last fifteen days is important as the price suggests how the asset is performing in the market.
To understand the trend or trend reversal, it is important to check the price for at least fifteen days. The price is given for 10 grams of silver in the table.
Find Silver Rates of Top Indian Cities & States
Silver Price in Chennai – Past 6 Months Price
For an investor and also for traders, Silver Rate in Chennai of the past six months can be beneficial for understanding the price trend, movement, and anticipate the future value rightly or more accurately.
So, in the sections below, we have gathered all the important information about the silver price in the city of Chennai for the past six months starting from the month of May 2020 till December 2019.
August 2020, Silver Rate Movement in Chennai
|August-20||Silver Rate per KG|
|1st August 2020||₹ 65,110|
|8th August 2020||₹ 74,200|
|15th August 2020||₹ 68,000|
|22nd August 2020||₹ 67,100|
|31st August 2020||₹ 66,600|
|Highest Price||₹ 76,510|
|Lowest Price||₹ 65,000|
There are a lot of major constituents, which contribute to a major decision making possibility. Determining the Silver Rate in Chennai from a major interval is necessary, and hence, we provide to you the price details for the month of August in detail.
- Everything you need to know about the price for the month is mentioned in the table and following points in KG expression.
- We must firstly check the opening price of the metal which was, Rs.65,110; followed by the closing price of the metal, which was Rs.66,600.
- Furthermore, you must check the highest price level of the metal, which was Rs.76,510.
- Contrarily, the lowest price of the metal was Rs.65,000 for the same month.
- Well, according to the price levels, the percentage change as commuted by us is 18%
July 2020, Silver Rate Movement in Chennai
|Jul-20||Silver Rate per KG|
|1st July 2020||₹ 50,050|
|8th July 2020||₹ 50,020|
|15th July 2020||₹ 53,000|
|22nd July 2020||₹ 58,950|
|31st July 2020||₹ 65,000|
|Highest Price||₹ 66,050|
|Lowest Price||₹ 48,500|
The most recent Silver Rate in Chennai trends are given in this section, i.e. for the month of July. You can see how the price has changed and also on account of the specified happenings of the month.
- Check the highest and the lowest price frequency of the month, and also the percentage change that took place across the entire month.
- The first recorded price level of the month was stagnant at Rs.50,050, while the end of the month witnessed the price level of Rs.65,000.
- Taking into account the highest price level of the metal for the month, it was Rs.66,050.
- Secondly, the metal had dipped as much as Rs.48,500 in the price level for the entire month.
- As per the commutation, it was witnessed that the change in price was as much as 36%, which is quite a lot of change witnessed.
June 2020, Silver Rate Movement in Chennai
|Jun-20||Silver Rate per KG|
|1st June,2020||₹ 50,150|
|31st June,2020||₹ 48,550|
|Highest Price||₹ 50,160 per Kg|
|Lowest Price||₹ 47,100 per Kg|
We will study June month’s analysis of Silver Rate in Chennai for this section. Here you will see how the silver price varied for the month of June. Take a quick look at the table followed by the below mentioned explanation of the price variation.
- View the major price changes of the month in terms of KG. Check out the opening, closing, highest and the lowest price of the month. You can as well check the percentage change in price of the metal.
- The first noticeable fact of the table is in context with the opening price, which stood at Rs.50,150 and the closing price on the other end stood at Rs.48,550.
- The highest rate, as reached by the metal for the month of June was Rs.50,160.
- Lowest price on the contrary end was however, stagnant at Rs.47,100.
- Taking all the necessary data into consideration, we have commuted the percentage change which resulted as 6.50%.
May 2020, Silver Rates in Madras
|May-20||Silver Rate per KG|
|1st May,2020||₹ 41,000|
|31st May,2020||₹ 50,110|
|Highest Price||50,110/- per Kg on 31st May,2020|
|Lowest Price||41,000/- per Kg on 1st May,2020|
The Silver Rates in Madras for the month of May 2020 has been discussed in details below –
- The Silver Rate in Chennai per kilogram was Rs. 41000 on the first date of the month that is 1st of May 2020. The price seemed to have had decreased from the previous day’s price.
- The result or the final price of silver in this city for May 2020 was Rs. 50110 which was on the 31st of May. So, you can see there is a huge difference in the price at the beginning of the month and the end.
- Price surged immensely and gained over 22.22$ in this one single month. This can be attributed to the growing tension amongst the markets and when other assets are becoming riskier day by day in this crisis.
- The highest price was the price reached on the 31st of May that is Rs. 50110. However, the price increased throughout the month only.
- The lowest price was Rs. 41000 only which was reached on the 1st of the month. So, there were no further lows in the month.
April 2020, Silver Rate Movement in Chennai
|Apr-20||Silver Rate per KG|
|1st April,2020||₹ 39,940|
|30th April,2020||₹ 42,520|
|Highest Price||Rs. 42,700/- per Kg on 20th April,2020|
|Lowest Price||Rs. 39,940/- per Kg on 1st April,2020|
In April, which marked the starting of the financial year as well as the coronavirus, Silver Rate Movement in Chennai was polite and not highly volatile.
- The highest price of the commodity for this month was reached on 20th April and the price was Rs. 42700.
- The lowest price was Rs. 39940 and the price was reached on the 1st of April only which was the starting price for the month as well.
- So, the difference between these two prices shows that the volatility factor was low this month.
- Silver Rate in Chennai per kilogram was Rs. 39940 as on the first of the month which surged to Rs. 42520 by the end of the month and that can be considered as a moderate gain.
- The overall performance metric shows the gain was of 6.46% which is an average growth in this scenario.
March 2020, Silver Rate Movement in Chennai
|Mar-20||Silver Rate per KG|
|1st March,2020||₹ 48,500|
|31st March,2020||₹ 39,480|
|Highest Price||Rs. 51,080/- per Kg on 7th March,2020|
|Lowest Price||Rs. 39,480/- per Kg on 31st March,2020|
In March, which was the last month of the previous financial year and also the month when lock down was imposed upon us, Silver Price Movement in Chennai was very disappointing for the investors.
- The price of the commodity this month sloshed by 18.6% which was a shock to most of the investors. This is mainly due to the panic selling of the commodity made by the investors in the market.
- The price at the starting of the month was Rs. 48500, which is a great price for the asset at present times.
- Price at the end of the month was Rs. 39480 which is way lesser than the price mentioned above for the beginning of the month. This proves the great fall in the price of the commodity.
- The highest price this month was Rs. 51080 which is way higher than the price it dropped to towards the end of the month and that suggests the volatility in the price.
- This can be justified in a better manner as you look at the lowest price of silver in Chennai for this month which was Rs. 39480.
February 2020, Silver Price Movement in Madras
|Feb-20||Silver Rate per KG|
|15th February,2020||₹ 49,500|
|29th February,2020||₹ 48,500|
|Highest Price||Rs. 51,500/- per Kg on 24th February,2020|
|Lowest Price||Rs. 48,500/- per Kg on 29th February,2020|
The Silver Rate in Madras per gram or kilogram for February didn’t perform well at all and we will be discussing the important prices below –
- The highest price of the commodity reached in this month was Rs. 51500 where the lowest was Rs. 48500.
- The above difference in the prices shows and suggests that the volatility in the price of the silver was not that much present in this month compared to other months.
- Starting price of the commodity was Rs. 49500 and then the price went up for the next few weeks.
- Towards the end of the month, the price started dipping and it ended on Rs. 48500 for this month.
- The overall performance was negative which is a very critical thing for the investors.
January 2020, Silver Price Movement in Chennai
|Jan-20||Silver Rate per KG|
|1st January,2020||₹ 49,350|
|23rd January,2020||₹ 49,000|
|Highest Price||Rs. 51,000/- per Kg on 6th January,2020|
|Lowest Price||Rs. 48,900/- per Kg on 14th January,2020|
The Silver Price in Chennai performed very nominally in January. The details are given below –
- At the beginning of the month, the price was Rs. 49350. The price didn’t change much within this month as depicted by the price of 23rd January which was Rs. 49000.
- The silver rate neither increases much nor decrease n this month but remained within a specific price range.
- Highest price was Rs. 51000 which was reached on the 6th of January and that also suggests that the price increased in the first week of the month.
- The lowest price was reached on the 14th of January and that suggests the price started dipping from the second week but again started regaining later and thus at the end of the month, the price was almost the same.
- The silver rate showcased a negative performance this month and fell by 0.71% in total.
December 2019, Silver Rate Movement in Chennai
|Dec-19||Silver Rate per KG|
|1st December,2019||₹ 46,650|
|31st December,2019||₹ 49,350|
|Highest Price||Rs. 49,350/- per Kg on 31st December,2019|
|Lowest Price||Rs. 46,650/- per Kg on 1st December,2019|
In this month, the Silver Rate in Chennai was performing well and the important prices are discussed below –
- The month started with the price of the commodity at Rs. 46650. The price started increasing throughout the month and the final price at the end of the month was Rs. 49350.
- It depicts that the price increased and the increase was gradual.
- Highest price that was reached this month was on the last day of the month and the price was Rs. 49350 as mention above as well.
- The lowest being the starting day’s price which was Rs. 46650. Both the price shows that there was mild volatility in the market for silver.
- The overall performance shows an increase or gain of 5.79% which is average as per the market.
Silver Rate in Chennai – Trend in 2020
To understand the Silver Rate Trend in Chennai, you can take a look at the price for the first five months mentioned above.
As the world has been taken aback by the corona-crisis, the price of silver has been drastically changing over the last few months.
Till now, it has increased significantly in May but decreased almost by a similar range in March.
So, the volatility is too high this year.
Check out Silver Rates of other Indian Cities & States
Silver Rate in Madras – Trend in 2019
Silver Rate Trend 2019 in Madras was volatile as well, especially during the mid of the year. While the starting of the year was stable and the prices moved at a slower pace, but during the mid of the year, the prices were rising drastically.
Then again the prices started dipping towards the end. However, the last month, it again picked up and gained a bit of momentum.
The overall year’s performance can be termed as good as the investors had made a profit from the rising prices.
What makes Silver Rates in Chennai to increase or decrease?
If you are wondering about the factors that make the Silver Rate in Chennai today per gram to increase or decrease then, here are those reasons or the factors –
- Inflation can be one of the primary factors which increase the price of silver and if deflation takes place, then the price of the silver can also decrease.
- The second but, the most important reason for daily up and down of the silver price is a demand for the commodity. Yes, if the demand is high, the price will go up and vice versa.
- The price of silver also depends on currency valuation. If the currency of our country falls against the currency of the country from where we import silver, the price is bound to go up and vice versa.
- The price of silver also depends on the price of gold. If the price of gold increases, the price of silver generally increases, and if the price of the gold decreases, most often the price of silver also falls.
What are the various measuring units of Silver in chennai?
Silver in Chennai is measured using grams in general. If you are checking online the price of the silver is given in grams and kilograms. Though, the main measuring unit for silver is ounces.
Here, one ounce is around 28.35 grams. Though ounce is the basic measuring unit for silver, but the popular unit for measuring the commodity is gram and it’s multiple.
How much is the Tax Levied on Silver Rate in Madras?
The Tax on Silver Rate in Madras is levied as per the goods and service tax. So, if you purchase silver in any form, you have to pay a GST of 3% on the amount.
The tax is a necessary thing that needs to be paid for every purchase. So, all these prices which are mentioned above are not inclusive of any taxes.
You have to calculate the GST on above the prices given above.
Find Silver Rates of other Indian Cities & States
|Silver Rate in Uttar Pradesh||Silver Rate in Bhubaneswar||Silver Rate in Jaipur|
|Silver Rate in West Bengal||Silver Rate in Chandigarh||Silver Rate in Lucknow|
|Silver Rate in Ahmedabad||Silver Rate in Coimbatore||Silver Rate in Patna|
How to check Silver purity in Chennai?
Unlike gold, Pure Silver Rate in Chennai is one and levied where there is 92.5% of silver in the alloy. For making the silver products more durable, copper is required to be mixed.
The best possible ratio is 92.5% of silver and remaining copper. This is when the silver is called pure silver as well. The above prices are given for pure silver only.
Silver Rate in Chennai – Conclusion
The Silver Rate in Chennai has been discussed in the above article as you read, and we attempt to provide you with the important information and data.
You can check Today Silver Rate in Chennai and come back daily to get the latest price of the commodity. The page is updated daily and the prices are linked to real-time data.