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Silver Rate Today in Coimbatore
silver rate in Coimbatore

10gm:
₹837.80
+0.08(0.00%)
1kg:
₹83,780.00
+80(0.00%)

Last updated on: 19th Apr 2024

Coimbatore is famous as a manufacturing hub. The city meets most of India's demand for motors and pumps, thus earning it the title of 'Pump City.' Simply put, this is a city where manufacturing activities require the use of silver across its diverse sectors.
The price of silver in Coimbatore has been on the rise in recent years. Silver is a precious metal, used widely in the jewellery, electronics, and medical sectors.
Investing in silver in Coimbatore is a great way to diversify your portfolio. Due to its widespread usage, it is also a valuable metal that remains in demand.

Silver Rate Comparison

Some Interesting Facts on Coimbatore Silver Rates vs. Other Cities


1. In Coimbatore, miniature silver utensils are hugely popular.
2. Coimbatore silver rates follow international rates of silver. India imports significant quantities of silver. Hence, any change in the global rate impacts silver prices within India, including Coimbatore.
3. Buying silver during Dhanteras is considered auspicious by Coimbatore residents. Hence, the price of silver typically increases in this period.
4. Many sweet shops in Coimbatore sell sweets covered in Varak - an edible garnish made of silver.
5. Numerous Coimbatore investors have started investing in silver exchange-traded funds or ETFs since they were introduced in 2022. These are funds that represent the value of silver in a dematerialised form.

Silver as an Investment in Coimbatore


You can invest in silver in Coimbatore in the following ways:

Silver coins or silver bars
 

Owning silver in physical form has been one of the most popular ways to buy silver. You can purchase coins or bars from any reputed jeweller or bank.

Silver Jewellery
 

Silver jewellery is used both as a fashion accessory and a gifting option. However, it attracts substantial making charges.

Silver Exchange Traded Funds (ETFs)
 

Exchange-traded funds are units of silver represented in paper form. These funds track the actual market price of silver and are traded on stock exchanges. You need a Demat account to start investing in them.

Silver Futures
 

Silver Futures is a contract that promises delivery of silver to the owner on a specified date and at a speculative future price of the metal.

Silver rates as per grams in Coimbatore

GramYesterdayToday
1 gram
₹83.70
-0.46 (0.55%)
₹83.78
+0.08 (0.10%)
8 grams
₹669.60
-3.68 (0.55%)
₹670.24
+0.64 (0.10%)
10 grams
₹837.00
-4.60 (0.55%)
₹837.80
+0.80 (0.10%)
100 grams
₹8,370.00
-46 (0.55%)
₹8,378.00
+8 (0.10%)
1kg
₹83,700.00
-460 (0.55%)
₹83,780.00
+80 (0.10%)

Impact of GST on Silver Prices in Coimbatore


The introduction of Goods and Services Tax (GST) in 2017 impacted silver rates in Coimbatore by a tiny margin.
Before GST, silver purchases in the city attracted a 1% Value Added Tax and 1% excise duty. GST at the rate of 3% replaced both taxes with effect from July 2017.
However, silver purchases continue to attract a 10% customs duty. Moreover, if you want to make silver jewellery then you must pay an additional 5% GST on the making charges.
Silver investors in Coimbatore must, therefore, brace themselves for an overall tax burden of 18%.

How is the Purity of Silver Evaluated in Coimbatore?


The Bureau of Indian Standards (BIS) hallmarks silver in India to ensure its fineness and purity.
If you want to buy silver, check the following factors:

  • The BIS logo
  • Jeweller's identification mark
  • Purity grade
  • Year of Making
     

Besides these essential factors, keep the following things in mind.


1. Check the current market rates.
2. When purchasing online, ensure that the seller is reliable and authorised.
3. Collect the invoice and make sure that it specifies.the weight, purity level, and actual price.

Historical Silver Rate in Coimbatore for Last 10 Days

10 grams
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Day Silver
19 Apr 2024
₹837.80
+0.80 (0.00%)
18 Apr 2024
₹837.00
-4.60 (0.00%)
17 Apr 2024
₹841.60
+0.80 (0.00%)
16 Apr 2024
₹840.80
-2.40 (0.00%)
15 Apr 2024
₹843.20
-4.10 (0.00%)
12 Apr 2024
₹847.30
+14.10 (0.00%)
11 Apr 2024
₹833.20
+3.90 (0.00%)
10 Apr 2024
₹829.30
+2.80 (0.00%)
09 Apr 2024
₹826.50
+5 (0.00%)
08 Apr 2024
₹821.50
+9.60 (0.00%)
Day Silver
19 Apr 2024
₹837.80
+0.80 (0.00%)
18 Apr 2024
₹837.00
-4.60 (0.00%)
17 Apr 2024
₹841.60
+0.80 (0.00%)
16 Apr 2024
₹840.80
-2.40 (0.00%)
15 Apr 2024
₹843.20
-4.10 (0.00%)
12 Apr 2024
₹847.30
+14.10 (0.00%)
11 Apr 2024
₹833.20
+3.90 (0.00%)
10 Apr 2024
₹829.30
+2.80 (0.00%)
09 Apr 2024
₹826.50
+5 (0.00%)
08 Apr 2024
₹821.50
+9.60 (0.00%)
Day Silver
19 Apr 2024
₹837.80
+0.80 (0.00%)
18 Apr 2024
₹837.00
-4.60 (0.00%)
17 Apr 2024
₹841.60
+0.80 (0.00%)
16 Apr 2024
₹840.80
-2.40 (0.00%)
15 Apr 2024
₹843.20
-4.10 (0.00%)
12 Apr 2024
₹847.30
+14.10 (0.00%)
11 Apr 2024
₹833.20
+3.90 (0.00%)
10 Apr 2024
₹829.30
+2.80 (0.00%)
09 Apr 2024
₹826.50
+5 (0.00%)
08 Apr 2024
₹821.50
+9.60 (0.00%)
Day Silver
19 Apr 2024
₹837.80
+0.80 (0.00%)
18 Apr 2024
₹837.00
-4.60 (0.00%)
17 Apr 2024
₹841.60
+0.80 (0.00%)
16 Apr 2024
₹840.80
-2.40 (0.00%)
15 Apr 2024
₹843.20
-4.10 (0.00%)
12 Apr 2024
₹847.30
+14.10 (0.00%)
11 Apr 2024
₹833.20
+3.90 (0.00%)
10 Apr 2024
₹829.30
+2.80 (0.00%)
09 Apr 2024
₹826.50
+5 (0.00%)
08 Apr 2024
₹821.50
+9.60 (0.00%)
Day Silver
19 Apr 2024
₹837.80
+0.80 (0.00%)
18 Apr 2024
₹837.00
-4.60 (0.00%)
17 Apr 2024
₹841.60
+0.80 (0.00%)
16 Apr 2024
₹840.80
-2.40 (0.00%)
15 Apr 2024
₹843.20
-4.10 (0.00%)
12 Apr 2024
₹847.30
+14.10 (0.00%)
11 Apr 2024
₹833.20
+3.90 (0.00%)
10 Apr 2024
₹829.30
+2.80 (0.00%)
09 Apr 2024
₹826.50
+5 (0.00%)
08 Apr 2024
₹821.50
+9.60 (0.00%)

Gold Vs Silver in Coimbatore


Silver and gold share a close relationship. To begin with, both are precious metals considered auspicious in Indian culture. Furthermore, silver prices track the prices of gold. Hence, comparing them is obvious, particularly when you want to investin either of the two. Here's a quick comparison:


Gold
 

Industrial Usage: Used in the thermal and electronics sectors.
Market Conditions: Stable for the most part compared to silver.
Cost: Less affordable than silver.
Storage: Does not require specialised storage.

Silver
 

Industrial Usage: Used in the electronics, medical and automotive sectors.
Market Conditions: More volatile than gold due to its smaller market size.
Cost: More affordable than gold.
Storage: Denser than gold and oxidises rapidly. Thus, silver requires special storage.

Understanding the Demand for Silver in Coimbatore


More than 25,000 small, medium, and large businesses operate in Coimbatore. So, how do the people of this prominent city use silver?


1. Silver jewellery is popular in south India and Coimbatore is no exception. People of all ages love wearing silver. Types of silver jewellery include necklaces, earrings, rings, bracelets, and anklets.
 

2. Silver is an essential component in the manufacturing of electronic products. It creates conductive pathways and connections within electronic devices. Hence, a significant chunk of electronics manufacturers in Coimbatore use silver.
 

3. Silver also plays an important role in the medical industry of Coimbatore. It is often used as a disinfectant or anti-microbial agent.

FAQs of Silver Rate in Coimbatore

Is it a good idea to invest in silver in Coimbatore?

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Yes. The demand for silver is poised to rise in the future due to its widespread usage across sectors. These include manufacturing, renewable energy, and healthcare industries.

Can silver withstand inflation?

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What causes the price of silver in Coimbatore to increase?

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Is silver a risky investment?

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Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are subject to change with market value and are provided on an as-is basis. Wint Wealth has no commercial interest or gain in or from the actions resulting from the information displayed on this page. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of the data contained on this website.