Silver rate in Thoothukudi
silver rate in thoothukudi

1gm:
77.30
0.00(0.00%)
1kg:
77,300.00
0(0.00%)

Last updated on: 3th Feb 2023 10:00 AM

Thoothukudi is one of the largest cities in the state of Tamil Nadu. It is a hub for Business Process Outsourcing (BPOs), known for being one of the largest turmeric producers, and is filled with industries of hand-loom, textiles, agriculture, etc. Thoothukudi also has a high demand for silver. Before you go and buy silver in the city, you should know the latest silver rates in Thoothukudi.

Silver rates as per grams in Thoothukudi

GramYesterdayToday
1gm
77.30
0.00 (0.00%)
77.30
0.00 (0.00%)
8gm
618.40
0.00 (0.00%)
618.40
0.00 (0.00%)
10gm
773.00
0.00 (0.00%)
773.00
0.00 (0.00%)
100gm
7,730.00
0.00 (0.00%)
7,730.00
0.00 (0.00%)
1kg
77,300.00
0.00 (0.00%)
77,300.00
0.00 (0.00%)

Factors that Affect Silver Rates in Thoothukudi

Silver prices are highly volatile, but they don’t change without reason. One of the major influencers of silver rates in Thoothukudi is demand and supply. The basic rule of thumb states that as the demand increases, the price also increases. The same trend follows with silver. Some other factors which influence the price of silver are:

Industrial Demand: The industrial sector is the majority user of the precious metal silver. Approximately 60% of the silver is utilised by industries producing physical goods. The utilisation of silver in such sectors cannot be replaced by any other metal or element. Hence, the demand for silver in the industries is expected to grow.

Seasonal Demand: During festival and wedding season, silver is often in high demand. This short time increase in demand also increases the rate of silver. 

Import Expenses: Thoothukudi doesn’t have a substantial natural reserve of silver. Hence, the demand for silver is met through import. So if the cost of importing the metal increases, so will its rate in the market and vice-versa.

Historical silver rates in Thoothukudi in last 10 days

1 gram
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Day Silver
04 Feb 2023
77.30
0.00 (0.00%)
03 Feb 2023
77.30
0.00 (0.00%)
02 Feb 2023
77.30
2.50 (3.35%)
01 Feb 2023
74.80
0.30 (0.41%)
31 Jan 2023
74.50
0.30 (0.41%)
30 Jan 2023
74.20
0.00 (0.00%)
29 Jan 2023
74.20
0.00 (0.00%)
28 Jan 2023
74.20
-0.40 (-0.53%)
27 Jan 2023
74.60
-0.40 (-0.53%)
26 Jan 2023
75.00
1.00 (1.36%)

How to Check the Purity of Silver in Thoothukudi

Make sure that the silver you are purchasing is authentic and of the quality told by the seller. Check these marks to ensure that the silver you are getting is authentic:

BIS Mark

All kinds of pure silver assets like jewellery, bars, coins, bullion, etc. will have BIS (Bureau of Indian Standards) marks on them..

Karat

Karat is used to define the degree of purity of silver. As the number of karat increases, the level of purity also increases. However, karat is not a precise measure to define the purity of silver. Hence, in the case of silver bullion, purity is calculated by splitting the karat by 24 and then multiplying it by 1000. 

Jeweller’s Identification Mark

Each jeweller has their mark engraved in silver as well. This mark is used to find the legitimacy of the silver asset. Also, it proves useful in identifying the maker of that silver asset.

Weekly & monthly silver rate in Thoothukudi
1 gram
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7 Days
30 Days
3 Months
6 Months

What are the Investment Options in Silver

There are various forms of silver you can invest in. Silver investment can be broadly classified into two types, which further have multiple choices. These types are:

Physical Silver

It is as the name suggests, owning silver assets as a physical commodity. A few of the most popular investments in physical silver are:

Silver Coins- You can invest in silver in the form of coins if you are looking to make a small investment. They come in different sizes and are circular, just like a coin. Based on the purity grade, size, and weight of the coin, the prices will change.

Silver Bullion Bars- Bullion bars are purchased by investors, mostly when they are looking forward to making a decent investment in silver. Silver bars, unlike coins, are sold at intrinsic value, just like in the case of gold bars. They are easy to store and trade as well.

Silver Jewellery- You can always buy silver jewellery and look at it as an investment. Just ensure not to wear silver jewellery in sunlight, as it can cause silver to oxidise.

Paper Silver

You can invest in silver without having to actually buy it. Here are a few ways to invest in paper silver:

Silver Mining Stocks- You can buy the stocks of silver mining companies. They are easy to liquefy as compared to physical silver. Also, since you will be investing indirectly in silver, the price of such stocks is near the market value of silver.

Futures Contracts- Here, you invest in silver at the present date rates and decide on a future date of maturity. Then you can sell the silver you purchased at the value of silver on the date of maturity. This way, you invest in actual silver without having to own it.

Silver Exchange Traded Funds (ETFs)- Investing in silver through ETFs is like investing in mutual funds. This is an ideal investment option for those who don’t want to make heavy investments in the metal or want the hassle of owning it physically.

Trend of Silver rates in Thoothukudi

1 gram
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Day Silver
01 February 202374.8
07 February 20230
Highest77.3
Lowest74.8

Things to Remember Before Buying Silver Jewellery in Thoothukudi?

When buying silver jewelry in Thoothukudi, it's important to keep the following things in mind:

  • Quality: Make sure to only buy silver jewelry from reputable jewelers who use high-quality silver. Ask to see the purity certification for the silver, and ensure that it is hallmarked by the Bureau of Indian Standards (BIS).

  • Design: While buying silver jewelery also consider the design of the jewelry. Check for the intricate details and craftsmanship of the piece.

  • Price: Compare prices from multiple jewelers to ensure you are getting a fair price for the piece. Be aware of any additional charges, such as import duties or GST, that may affect the final price.

  • Hallmarking: Always check the authenticity of Hallmarking on your silver jewelry, it gives you the assurance of the purity of silver.

  • Returns and exchanges: Find out if the jeweler has a return or exchange policy, just in case the piece doesn't meet your expectations.

  • Purpose: Think about why you are buying the silver jewelry, is it for personal use or as a gift. Also, consider if it's something you can wear often, and it would look good with your existing collection of jewelry.

  • Aftercare: Ask about the jeweler's recommendations for cleaning and maintaining your silver jewelry, to ensure it remains in good condition.

FAQs of Silver price in Thoothukudi

Do I need a PAN card to purchase silver products?

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Are German silver and sterling silver the same?

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Does silver get rusted?

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