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Silver Rate in Salem (4th February 2023)

Feb 4, 2023
76 /Gram -1.80

What are the current rates of silver in Salem?

Silver rates in Salem today, largely follow global silver prices. Currently, rates for silver in Salem are around Rs 72,500 per kg, while one gram silver in Salem, now costs approximately Rs 72. Demand for silver not only arises from consumers, but, also from industry where Silver finds application. In Salem, we have seen silver prices rally, which is why there has been less demand these days. However, if you love investing in silver, now could not be a good times, as prices have jumped by almost 10%. The firm trend in silver prices is likely to continue as demand for the metal keeps rising. Having said that if you buy and sell silver in Salem, there is a capital gains tax that becomes automatically applicable. So, investors should keep that in mind when they sell silver.

Today Silver Price Per Gram/Kg in Salem (INR)

Gram Silver Rate
Today
Silver Rate
Yesterday
Daily Price Change
1 gram 76 77.80 -1.80
8 gram 608 622.40 -14.40
10 gram 760 778 -18
100 gram 7,600 7,780 -180
1 Kg 76,000 77,800 -1,800

Silver Rate in Salem for Last 10 Days

Date 10 gram 100 gram 1 Kg
Feb 3, 2023 760.00 7,600.00 76000.00 -1800
Feb 2, 2023 778.00 7,780.00 77800.00 1800
Feb 1, 2023 760.00 7,600.00 76000.00 1500
Jan 31, 2023 745.00 7,450.00 74500.00 -200
Jan 30, 2023 747.00 7,470.00 74700.00 500
Jan 29, 2023 742.00 7,420.00 74200.00 0
Jan 28, 2023 742.00 7,420.00 74200.00 -400
Jan 27, 2023 746.00 7,460.00 74600.00 -400
Jan 26, 2023 750.00 7,500.00 75000.00 1000
Jan 25, 2023 740.00 7,400.00 74000.00 0

Weekly & Monthly Graph of Silver Price in India

Historical Price of Silver Rate in Salem

  • Silver Price Movement in Salem, January 2023
  • Silver Rates 1 Kg
    1 st January rate Rs.74,300
    31st January rate Rs.74,500
    Highest rate in January Rs.75,800 on January 16
    Lowest rate in January Rs.73,500 on January 6
    Over all performance Rising
    % Change +0.27%
  • Silver Price Movement in Salem, December 2022
  • Silver Price Movement in Salem, November 2022
  • Silver Price Movement in Salem, October 2022
  • Silver Price Movement in Salem, September 2022
  • Silver Price Movement in Salem, August 2022

Can silver rates in Salem move higher?

Investors would always like to know, if there is a potential for further hikes in silver rates. Those who are buying silver in Salem, would want to wait, if they believe that prices in the city can decline. On the other hand, those who are wishing to sell would also want to wait, if they believe silver rates in Salem can rally from the current levels. The outcome of how silver rates move, would depend in how things pan out in the global markets. If things remain optimistic and there are buyers we could silver rates in Salem today, move much higher than the current market price of Rs 70,100 per kg or Rs 705 per 10 grams. Overall, the trend suggests that prices could stay firm in the next few weeks as global interest rates are expected to stabilize around these levels. Going ahead the markets are expected to remain volatile for silver.

What to look for when buying silver items in Salem?

One of the first things to look for when buying silver is the rates for 1 gram Silver in Salem. More often than not, this could help you save a lot of money. Among the most preferred silver items in Salem, including silver spoons, silver crockery or silver rings and other silver jewellery. If you are looking to buy silver jewellery, the best thing to do would be to look for hallmarked silver, which has become the norms these days. We would tell investors to largely go for the silver biscuits and silver bars as purity is assured and also you do not incur making charges. You also get the best rates when you sell the same. It is important that you check with your local jeweller, if he sells hallmarked silver and if he does not it is better to look at options else where, especially, if you are sell to make large purchases.

It's good gains for Silver rates in Salem in 2022

Silver prices in Salem have seen a good upward movement in 2022. In fact, fears that rising interest rates would dampened sentiments in 2022, has been a misnomer. Silver rates in Salem started the month on a very buoyant note jumping from levels of Rs 698 to Rs 730 per 10 grams. In fact, I kg silver rates have gone up in Salem from Rs 69800 per kg to Rs 73,000 per kg. One is not sure whether the same trend would continue through the course of the year. In fact, as we approach the year 2023, many analysts believe that we could be in for better times going forward. Overall, there could be some selling pressure at higher levels, but than every drop in prices of the precious metal would be a good opportunity for investors to buy.\

Where can you buy good quality silver in Salem?

In Salem, there are various options when it comes to buying silver with purity. One of the best options is to look for buying the silver from the banks or other popular jewellers. However, an ideal way would also be to buy silver in the form of coins and bars, whereby you are assured of purity. When it comes to silver jewellery, the problem would come with regards to the purity, but again here one has to assess from where he is buying the silver. Interestingly, in Salem like most other cities hallmarked silver jewellery is also available, which is not a bad option. But then again, they would not be available extensively and would be available only selectively. In fact, if the demand for silver jewellery in the city rises, more and more jewellers would be offering the same.

Why silver prices in Salem are on the rise?

One of the most important things that has happened in the last few weeks is that silver prices have been on a mend. Investors in Salem who have been waiting patiently to invest in the hope of prices falling have been a little disappointed as prices have failed to drop. In fact, demand increase has led to some movement in prices, which have now trended upward. Two things have happened right now as far as silver is concerned. The first is that demand from consumers has increased and apart from this, there has also been a trend where demand from industry has increased. It is important to remember that a lot of demand for silver comes from industry, which is why we have seen prices of silver seeing an upward trend in the last few weeks.

 

Disclaimer: There maybe definitely a variance in rates and prices. GoodReturns.in has made every effort to ensure accuracy of information provided; however, Greynium Information Technologies Pvt Ltd, its subsidiaries and associates do not guarantee such accuracy. The rates are for informational purposes only. It is not a solicitation to buy, sell in precious silver. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates do not accept culpability for losses and/or damages arising based on silver information provided. Silver rates are the futures rates across all cities in India and hence there maybe price variation.

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