Today Silver Rate in Coimbatore

Silver is a precious metal valued for its rarity and industrial applications. In Coimbatore, the price of silver is determined by a variety of factors, including global market trends, local supply and demand, and taxes. The silver rate in Coimbatore refers to the current market price of silver per gram or per kilogram in the city. The price of silver in Coimbatore, like any other commodity, is influenced by various factors such as global supply and demand, economic and political conditions, and currency exchange rates. It is important to note that the silver rate can fluctuate daily or even hourly, and is subject to change depending on market conditions. 

75,500

Today MCX silver price in rupees per 1 kg.
Today silver rate in india is 75,500 rupees per Kg

  • 10 Gram Silver rate Today
  • 755(10 gram)
  • 1 Kg Silver rate Today
  • 75,500(1 Kg)

Silver Rate Today in India (in Rs/1 gm)

Silver RateSilver Rate in BangaloreSilver Rate in ChennaiSilver Rate in DelhiSilver Rate in HyderabadSilver Rate in Mumbai
1 Gm7275747574
10 Gm721755740755740
100 Gm7,2097,5507,4007,5507,400
1 Kg72,10075,50074,00075,50074,000

Silver Rate in India for Last 10 Days

Date10 gram100 gram1 Kg
Feb 27, 20247557,55075,500
Feb 26, 20247647,64076,400
Feb 25, 20247647,64076,400
Feb 24, 20247647,64076,400
Feb 23, 20247607,60076,000
Feb 22, 20247657,65076,500
Feb 21, 20247727,72077,200
Feb 20, 20247707,70077,000
Feb 19, 20247757,75077,500

Today Silver Rate of Metro Cities in India

City 1 Gram 10 Gram 100 Gram1 Kg
727217,20972,100
757557,55075,500
747407,40074,000
757557,55075,500
747407,40074,000
747407,40074,000
747407,40074,000

Today Silver Rate of Other Cities in India

City 1 Gram 10 Gram 100 Gram1 Kg
747407,40074,000
727217,20972,100
757557,55075,500
747407,40074,000
757557,55075,500
757557,55075,500
747407,40074,000
747407,40074,000
747407,40074,000
747407,40074,000

Today Silver Rate in Coimbatore - An Overview

Coimbatore, also known as the Manchester of South India, is a bustling city in Tamil Nadu renowned for its textile and jewellery industries. Silver, a precious metal valued for centuries for its beauty and versatility, is an essential commodity in Coimbatore. Various factors, including global demand and supply, economic and political conditions, and currency fluctuations, influence today’s silver rate in Coimbatore. Whether you are an investor or a trader, staying up-to-date on the current silver rate in Coimbatore can help you make informed decisions and maximise your returns. In this article, we will provide you with the latest information on the silver rate in Coimbatore, along with insights into the factors driving its movement.

How You Can Make Silver as an Investment in Coimbatore

Silver can be a good investment option for investors looking forward to diversifying their portfolios. To invest in silver along with the silver rate today in Coimbatore, you must get acquainted with the available modes of investment.

Here are some ways you can invest in silver:

  • Physical Silver: You can purchase physical silver in the form of coins or bars from a reputable dealer in Coimbatore. You can store the silver yourself or use a secure storage facility or a bank locker. 
  • Silver ETFs: Investors can invest in silver through exchange-traded funds (ETFs) listed on the National Stock Exchange (NSE) or the Bombay Stock Exchange (BSE). These ETFs track the price of silver and provide investors with exposure to the metal without the need for physical storage.
  • Silver Futures: You can trade silver futures on the Multi Commodity Exchange (MCX) in India. It allows you to bet on the future price of silver without owning the physical metal. Investors consider it one of the best options to invest in silver. 
  • Silver Mining Stocks: You can invest in companies that mine silver directly or through mutual funds specialising in silver mining stocks.

However, before investing in silver, it is essential to conduct thorough research and understand the ongoing trends along with the associated risks. Getting some advice from a financial advisor to determine if silver is a suitable investment for your financial goals and circumstances is also recommended.

Things to Know Before Buying Silver Jewelry in Coimbatore

Coimbatore is known for its traditional silver jewellery, often intricately designed and crafted by skilled artisans. However, before you decide to invest in silver in Coimbatore, there are certain things you should know to ensure you get the best value for your money:

  • Purity: Check the purity of the silver before buying it. Pure silver is too soft for jewellery and is usually alloyed with other metals, such as copper. The purity of silver is measured in terms of fineness, with 999 being the purest form.
  • Authenticity: Look for the authenticity of the silver to ensure that you are investing in the right place-additionally, purchase silver only from a reputable dealer.
  • Price: Compare the prices of silver at different shops in Coimbatore to get the best deal. Beware of shops offering unrealistically low prices, as they may sell fake or low-quality silver.

Factors Affecting Silver Prices in Coimbatore

Several factors can affect silver prices in Coimbatore, including:

  • Global Demand and Supply: The demand for silver in various industries, such as electronics, solar panels, and jewellery, as well as the supply of silver from mines, can impact its prices in Coimbatore and other regions.
  • Economic and Political Factors: The health of the global economy, geopolitical tensions, and government policies related to silver, such as taxes and tariffs, can influence silver prices in Coimbatore.
  • Currency Exchange Rates: As silver is globally traded in US dollars, fluctuations in exchange rates between the Indian and US rupee can affect silver prices in Coimbatore.
  • Inflation: The prices of silver and other commodities tend to rise during periods of high inflation as people seek to protect their wealth by investing in tangible assets.

So, like any other market, silver prices in Coimbatore are subject to a range of complex and interconnected factors that can drive fluctuations in price over time.

Impact of GST on Silver Rate in Coimbatore

The Indian government has implemented a Goods and Services Tax (GST) on the buying and selling various goods and services, including gold, silver, and processed diamonds. For example, any transaction involving purchasing or selling gold, silver, or processed diamonds will be subject to a 3% GST in India. In comparison, rough diamonds are subject to a 0.25% GST.

To understand how the GST affects the price of silver in Coimbatore, consider the following scenario: Someone wants to buy 100 grams of silver for INR 6,513. In addition to the cost of the silver, they must pay several taxes, including a 10% customs duty, 1.2% VAT, 1% excise duty, and 3% GST, as well as a 5% GST on making charges.

How can Interest Rates Affect Silver Prices in Coimbatore?

Interest rates can also impact the price of silver in Coimbatore. When interest rates are low, investors tend to seek out alternative investments, such as silver, which can increase demand and the price. Conversely, when interest rates are high, investors may be more likely to hold onto their cash, which can lead to a decrease in demand for silver and a price drop.

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Frequently Asked Questions (FAQs)

Why is silver considered an Industrial Requirement?

Silver is considered an industrial requirement because it has many industrial uses. It is used in the production of electronics, solar panels, jewellery, silverware, and many other products. Due to its unique properties, such as high electrical conductivity, malleability, and ductility, it is a valuable resource in many manufacturing processes.

How often do silver rates change in Coimbatore?

Silver rates in Coimbatore, like any other commodity, are subject to market fluctuations and can change on a daily basis. Various factors influence prices, such as global demand and supply, geopolitical events, currency exchange rates, and inflation rates.

How can I check the ongoing silver rates in Coimbatore?

You can check the ongoing silver rates in Coimbatore by visiting the websites of leading jewellers or checking financial news portals. You can also download financial apps that provide real-time updates on commodity prices.

How do I get the best silver rate in Coimbatore?

To get the best silver rate in Coimbatore, it is recommended that you do some research and compare the rates offered by different jewellers. You can also negotiate with the jeweller to get a better deal. Additionally, keep an eye on the market trends and buy when the prices are low.

What is the preferred form of silver for investment in Coimbatore?

The preferred silver investment form in Coimbatore is usually silver bars or coins. They are easy to store, and reputed manufacturers guarantee their purity and weight. Silver jewellery is not recommended as an investment option, as it includes additional charges for design and craftsmanship.

How to purchase silver coins in Coimbatore?

You can purchase silver coins in Coimbatore from reputed jewellers, banks, or financial institutions that deal with precious metals. You can also buy them online from e-commerce platforms that specialise in the sale of precious metals.

Will I have to pay GST while buying silver in Coimbatore?

Yes, you will have to pay GST (Goods and Services Tax) while buying silver in Coimbatore. The current GST rate on silver is 3%.

Why should I check the daily silver rates in Coimbatore?

Checking the daily silver rates in Coimbatore can help you make informed decisions regarding your investment in silver. It can help you track market trends, and you can buy or sell silver accordingly. Additionally, it can help you get the best deal and save money.

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