Silver Rate in Chennai: Today Chennai Silver Price: 31 July 2019

DHFL Pramerica Rakshak+

Silver Rate In Chennai

Chennai is one of the leading consumers of silver in the country. The people in Chennai adore silver not just as jewellery or ornaments, but also as a safe investment with high liquidity. Silver rates in Chennai are a reflection of the global demand and supply chain. The price of silver in Chennai saw a significant increase at the beginning of the year, with January recording an upshot of 7.33%. The trend further moved upwards in February but only to decline in March by 4.21%.

The rate of silver saw a downward movement in April as well, with the overall fall being recorded at 5.63%. The current silver rate in Chennai is in continuation of this trend. Many factors have been attributed to the rise and fall in prices. The excise duty levied by the government in Chennai on silver is expected to alter its price in a serious way. We have given todays silver rate in Chennai for those who wish to buy the precious metal.

Silver is the Talk of the Day for Metropolitan Cities

It has been seen more often than not; it is the international rates of metal that seem to set the price for its buying or selling in big metropolitan cities. Silver price in Chennai is one such example that eventually gets set owing to various dynamics and factors present in the market.

What Makes Silver Popular in Chennai?

Silvers outstanding growth in terms of buying and selling in the Indian context is largely set by the fact the country happens to have a place on the map as one of the top 3 destinations. Chennai as a metropolitan city has one of the biggest customer bases. The metal being consumed either as jewelry or silverware sets the Chennai silver rate. A religious city, the rate of silver in Chennai happens to underline that here it is more about individual consumption than industrial.

In comparison, the metal is used extensively in the world for industrial purposes. The price of silver in Chennai due to this affects greatly the ongoing price of jewelry and ornaments which also serves as a part of peoples investments. The investments are always considered to be a safe bet when projected and set in the broader perspective of the day to day living of middle or lower income groups of people. Even the upward mobile class also has an inclination for silver.

Max Life Maxis Super