Silver Rate Today in Chennai
as on 22 Feb '26
1 kg
₹2,70,569.00
(+5.40%)
100 gm
₹27,056.90
(+5.40%)
10 gm
₹270.57
(+5.40%)
1 gm
10 gm
100 gm
1 kg
Create wealth with stability by investing in Silver ETFs
Add Silver to your portfolio with Silver Mutual Funds
Sorry, No Monthly Data Available for Chennai at this Moment!
Cities | 1kg Silver | 100g Silver | 10g Silver |
|---|
Chennai, the cultural capital of South India, is one of the most important precious metals markets in the country. With rich traditions associated with temple silver articles, impeccable craftsmanship and a great culture's affinity for silver, Chennai is one of the major silver consumption cities in the country. From the legendary markets of T. Nagar to the wholesale markets of George Town, the silver trade in Chennai showcases centuries of tradition fused with modern investment sensibilities.
In the Tamil culture, silver is not just a piece of jewellery, but it also represents purity, divine blessings, family legacy, etc. Here, we will explore the silver market dynamics of Chennai.
The prices of silver in Chennai are taken as a reference point by many small southern parts. This city holds an important place in the silver market of India due to its prolific demand for precious metals from the manufacturing industry, consumer market, and the cultural tradition of temple silver craftsmanship.
Silver prices are quoted on a per gram or per kilogram basis, and are updated often throughout the day based on the global silver prices, USD-INR exchange rate and domestic supply and demand dynamics. Current silver rate in Chennai (as of ):
- 1 Kg Silver: ₹0
- 100 Grams Silver: ₹0
- 1 Gram Silver: ₹NaN
Chennai's silver prices often exhibit slightly higher retail rates as compared to some other metro cities due to the city's preference for heavier, more intricately designed temple silver articles and the strong cultural demand that sustains year-round consumption.
Silver price in Chennai fluctuates on the basis of a combination of global forces and region-specific demand patterns.
- Industrial demand: Chennai is a significant automotive and manufacturing centre (often referred to as the Detroit of India). The increased demand for silver in industrial uses, especially in electronics and car parts, keeps local premiums buoyant.
- Global Trends: Global spot prices (COMEX) and US Dollar strength fluctuate and have a direct impact on silver prices in Chennai.
- Festive & wedding demand: Silver demand significantly spikes during auspicious Tamil months such as Chithirai (April-May) and Margazhi (Dec-Jan), as well as during festivals such as Pongal, Diwali and Akshaya Tritiya.
- Geopolitical factors: Uncertainty in the international arena often leads investors to seek safe-haven investments such as silver, causing a spike in silver prices.
- USD to INR exchange rate: Rupee depreciation leads to an increase in silver prices in India.
- Import duty: Chennai is responsible for a substantial portion of India's silver imports, with an import duty (currently 6%). Changes in it have an immediate effect on silver prices in Chennai.
A spot rate is a current market rate at which silver can be bought or sold for immediate delivery in the form of bullion. Jewellers buy silver at spot prices. The silver spot price in Chennai is determined by:
- International spot price: The standard price from global exchanges.
- Currency exchange: USD to Indian Rupee currency exchange rate.
- Import costs: Including the 6% import duty and 3% GST.
- Local Premiums: The local bullion Association and other local bodies set their daily rates based on the supply and local demand.
- Transportation and insurance: Costs of transporting silver from the ports to the wholesale markets.
The difference in spot and retail silver prices in Chennai is due to the addition of many extra costs. Spot Price is the current price of silver for immediate ownership and delivery, used by large traders.
While the retail costs include extra cost components like making charges, hallmarking fees, retailers' margins, transportation costs, storage and insurance costs and wastage charges.
Chennai follows national taxation of silver to provide transparency and uniformity across the country.
On silver purchases:
- GST on silver value: 3%
- Making charges GST: 5%
- Import duty: 6%( included in base silver pricing)
- Making charges: Variable, depending on intricacy of design (about 10% - 40% of silver value for traditional Tamil temple silver articles, lower for bars/coins)
- BIS hallmarking: Rs. 35 per article with a minimum charge of Rs. 150 per consignment (as per BIS guidelines) for physical silver buying.
On sale of Silver investment [Physical, ETFs and Mutual funds, Digital Silver]:
On Physical Silver, Digital Silver and Mutual funds:
- LTCG: For silver investments held for 24 months or more, LTCG is 12.5%.
- STCG: For silver investments held for less than 24 months, STCG is taxed at the individual tax slab.
On Silver ETFs:
- Short-Term Capital Gains (STCG): For holding periods of less than 12months, gains are added to total income and taxed at individual income tax slab rates as per Income Tax Department guidelines
- Long-Term Capital Gains (LTCG): For holdings of 12 months or more, taxed at 12.5% flat rate.
Chennai is one of the leading silver consumption centres in India, with its consumption driven by:
- Strong preference for temple silver articles: In Chennai households, keep up silver articles for religious ceremonies and puja purposes.
- Bulk buying for weddings: Tamil weddings involve gifting silver items as wedding gifts.
- Family-led purchases: Silver items are handed down from one generation to another as family heirlooms.
- Religious significance: Buying silver is considered auspicious for temple offerings, religious ceremonies and classical dance performances.
- Industrial Use: Extensive consumption of silver by the local automotive and electronics industries.
- Traditional household utensils: The Tamil families prefer silver plates, tumblers, bowls and serving utensils.
- Portfolio diversification: Urban professionals prefer silver as a hedge against inflation.
While buying silver, buyers must consider the following:
- Purity verification: Make sure that you purchase silver with the BIS Hallmark. It should have the purity grade (e.g. 925 for Sterling Silver, 999 for Fine Silver) and the 6 Digit HUID code.
- Legitimate Sellers: Purchase from reputed jewellers in established hubs.
- Fake German Silver: Be careful of German Silver sold on the street. This is actually an alloy of copper, zinc and nickel and contains 0% silver, but looks similar to silver.
- Invoice details: Always request a GST invoice that mentions the gross weight, net weight, purity and making charges clearly.
- Buy-back terms: Understand the store's policy of exchanging or selling back the silver later.
- Weight discrepancies: Silver is more affordable than gold, which often leads to consumers not noticing weight discrepancies. Always weigh on a digital scale, and check up to 2 decimals.
- Claims of verbal purity: Sellers who make verbal assurances without written certification.
- Pressure tactics: High-pressure sales or pressure to buy within a limited time.
No, the price of silver in Chennai is often higher than in other cities such as Mumbai or Delhi. This is due to:
- High demand: The steady and high demand for heavy silver items in Tamil culture is what enables sellers to charge a premium.
- Logistics: The transport of bullion to the southern peninsula adds to the silver retail price.
- Local Taxes/Premiums: The local association rates can differ slightly according to regional supply constraints.
- Making charges: Design choices and labour costs differ as traditional Tamil temple silver has different making charges than north or east styles because of their intricate design.
The best time to buy silver in Chennai is determined by Tamil cultural and religious beliefs. The most preferred occasions include:
- Akshaya Tritiya: Said to be auspicious for the purchase of precious metals and brings prosperity.
- Pongal: Buying silver for household items and religious articles peaks during Pongal.
- Tamil New Year (Puthandu): This is an auspicious day for new purchases and investments in precious Silver.
- Dhanteras: Considered one of the most auspicious days for buying precious metals throughout India.
- Navaratri season: A nine-day festival when many prefer to make auspicious purchases like Silver.
- Pushya Nakshatra: Specific astrological days that are considered favourable for precious metal purchases in Hindu tradition.
- The Tamil month of Margazhi (December-January): It is considered auspicious for religious and traditional purchases.
- Tamil month Chithirai(April-May): This is the peak wedding season with huge demand for silver.
Chennai has a set of several legal frameworks in place to protect the buyers in case of any dispute regarding Silver purchases. Consumers are protected under the legal protection framework comprising the Consumer Protection Act, 2019, the BIS Act, the Legal Metrology Act and GST regulations.
Buyers can lodge official complaints at Consumer Disputes Redressal Commissions, BIS grievance portal, the Legal Metrology Department, police, associations of local jewellers and civil courts.
Always check the current rate of silver, BIS Hallmark (mandatory for purity assurance), compare the making charges (it varies from jeweller to jeweller) and ask for a GST Invoice. Avoid buying silver without a bill, as it makes resale difficult.
The highest price of 1 kg of silver was ₹0 in Chennai on .
As of , the spot rates per gram in Chennai are Rs. NaN. These are spot rates that do not include additional costs such as GST, making charges, hallmarking fees, and retailer margins.
Dhan is a popular investing platform that helps investors buy silver ETFs/mutual funds or trade in silver options/futures online. The following is a step-by-step guide on how one can buy silver through Dhan:
Step 1: Open a Demat account (if new to Dhan)
Step 2: Add money to your account
Step 3: Choose your silver investment option
- Option A: Silver ETF (exchange-traded funds)
- Option B: Silver mutual funds
- Option C: Futures/options in silver
Step 4: Place your order
Step 5: Monitor and manage
Invest in
Silver Funds & ETFs
Pay Zero Brokerage on Delivery
Open FREE Demat Account
+91
error
Or Scan the QR Code to download the Dhan App
Turn Silver Prices into
Silver Investments with Dhan
Invest in Silver ETFs & Funds at ₹0 Brokerage
Dhan App
Chrome
Join our Community
Follow us on
Partner with us
built with love
for Indians who love to invest & trade
We are part of Raise Financial Services
Explore | Sitemap
*All securities mentioned on this website are exemplary and not recommendatory.
*Current prices on the website are delayed by 15 mins, login to check live prices.
We are bullish on India, we are bullish on India's prospects to be one of the largest economies in the world. We believe that the stock market provides a unique opportunity for all of India's traders and investors to participate in the growth story of the country.
Yet, most investing & trading platforms in India have remained more or less the same over the past decade. Times have changed and retail traders and investors have become smarter about managing their trades and money. Modern traders & investors require an online trading platform that helps them keep up with the technological advancements of our time.
That's why we're building Dhan - to help you trade, to help you invest, and to help you participate in India's growth stock via the stock market with awesome features and an incredible experience.
©2021-2026 Raise Securities Private Limited (formerly Moneylicious Securities Private Limited). All rights reserved. CIN: U74999MH2012PTC433549 Raise Securities is part of Raise Financial Services.
SEBI Stock Broker Registration No: INZ000006031 | Depository Participant (CDSL) ID: IN-DP-289-2016 | SEBI Research Analyst Registration No: INH000023357
Exchange Membership No. : NSE: 90133 | BSE: 6593 | MCX: 56320
Registered & Corporate Office: Unit No. 2201, 22nd Floor, Gold Medal Avenue, S.V. Road, Beside Patel Petrol Pump, Piramal Nagar, Goregaon West, Mumbai – 400104, Customer Care: 9987761000.
For any query / feedback / clarifications, email at help@dhan.co.
Important Links: SEBI | BSE | NSE | MCX | CDSL | SCORES | ODR Portal | Investor Charter for Stock Brokers | Investor Charter for DP | Investor Charter for Research Analyst | UCC Advisory | e-Voting for Shareholders | NCL Client Collateral details |
MCXCCL Client Collateral details
Important Information: Terms of Usage | Disclaimers | Privacy Policy | Grievances | Grievances RA | Risk Management Policy | Risk Disclosure | Advertisement Disclaimer | Referral Terms & Conditions | Saarthi 2.0 Mobile App for Investors
Exchange Membership No. : NSE: 90133 | BSE: 6593 | MCX: 56320
Registered & Corporate Office: Unit No. 2201, 22nd Floor, Gold Medal Avenue, S.V. Road, Beside Patel Petrol Pump, Piramal Nagar, Goregaon West, Mumbai – 400104, Customer Care: 9987761000.
Details of client bank account
For any query / feedback / clarifications, email at help@dhan.co.
In case of grievances for any of the services rendered by Raise Securities Private Limited, please write to grievance@dhan.co (for NSE, BSE and MCX) or grievancedp@dhan.co (for Depository Participant). Please ensure that you carefully read the Risk Disclosure Document as prescribed by SEBI, our Terms of Use and Privacy Policy. Compliance Officer: Mr. Manish Garg and Mobile: 8655740961 Email: complianceofficer@dhan.co To lodge your complaints using SEBI SCORES, click here.
Disclaimer: All communications with the client via chat, phone, or email are for support purposes only. Any commitments or statements made by the agent (human or virtual) shall not be binding on the company.
DHAN is a brand owned by Raise Securities Private Limited. All DHAN clients are registered under Raise Securities Private Limited. Clients are advised to refer to our company as Raise Securities Private Limited when communicating with regulatory authorities.
Procedure to file a complaint on SEBI SCORES: Register on SCORES portal. Mandatory details for filing complaints on SCORES: Name, PAN, Address, Mobile Number, E-mail ID. Benefits: Effective Communication, Speedy redressal of the grievances. You may refer the website https://scores.sebi.gov.in/ for more information. You may also download the SEBI Scores app to log a complaint Android: https://play.google.com store apps sebiscores iOS: https://apps.apple.com app sebiscores.
Disclaimer: Investment in the securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed the SEBI prescribed limit
Attention investors:
- Stock brokers can accept securities as margins from clients only by way of pledge in the depository system w.e.f September 01, 2020.
- Update your e-mail and phone number with your stock broker / depository participant and receive OTP directly from depository on your e-mail and/or mobile number to create pledge.
- Check your securities / MF / bonds in the consolidated account statement issued by NSDL/CDSL every month.
Note: As a policy we do not give stock tips or recommendations and have not authorized anyone to give this on behalf of us. If you know anyone claiming to be a part of Dhan / / Raise or our associate companies or partners and offering such services, please report us on help@dhan.co. Important Information for Investors: To prevent unauthorized transactions in your trading / demat account, do not share your account details, credentials or any personal details with anyone. Keep your mobile number updated with your Stock Broker, Depository Participant and ensure that the same is registered with Stock Exchanges, Depository and KRAs. You will receive alerts and information on your registered mobile number / email for debit and other important transactions in your demat account directly from CDSL / Exchange on the same day. KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (Stock Broker, DP, Mutual Fund, etc.), you need not undergo the same process again when you approach another intermediary. No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account. This is issued in the interest of investors.
Investors should be cautious on unsolicited emails and SMS advising to buy, sell or hold securities and trade only on the basis of informed decision. Investors are advised to invest after conducting appropriate analysis of respective companies and not to blindly follow unfounded rumours, tips etc. Further, you are also requested to share your knowledge or evidence of systemic wrongdoing, potential frauds or unethical behaviour through the anonymous portal facility provided on BSE & NSE website. Issued in the interest of the investors.
Raise Securities Private Limited also known as Dhan is only an order collection platform that collects orders on behalf of clients and places them on BSE StarMF for execution. Client expressly agrees that Dhan is not liable or responsible and does not represent or warrant any damages regarding non- execution of orders or any incorrect execution of orders with regard to the funds chosen by the client or due to, but not being limited to, any link/system failure, delay in transfer of the funds on account of any unforeseen circumstances/issues in the banking system/payment aggregators or any other problems that may result in a delay in crediting the funds into the BSE Star MF's bank account. Raise Securities Private Limited (Dhan) does not engage in proprietary trading on its own account.
Mutual fund investments are subject to market risks, read all scheme related documents carefully before investing. Dhan is not a distributor or agent of any mutual fund. Mutual Funds are not exchange-traded products. Any related disputes will not have access to the Exchange-investor redressal forum or arbitration mechanism. For other disclaimers please refer https://dhan.co/advertisement-disclaimer/
Download client registration documents (Rights & Obligations, Risk Disclosure Document, Do's & Don'ts) in vernacular language: BSE | NSE | MCX
Kindly, read the Advisory Guidelines of BSE | NSE | MCX for investors as prescribed by the exchange with reference to their circular dated 27th August, 2021 regarding investor awareness and safeguarding client's assets
Important Links: SEBI | BSE | NSE | MCX | CDSL | SCORES | ODR Portal | Investor Charter for Stock Brokers | Investor Charter for DP | Investor Charter for Research Analyst | UCC Advisory | e-Voting for Shareholders | NCL Client Collateral details |
MCXCCL Client Collateral details
Important Information: Terms of Usage | Disclaimers | Privacy Policy | Grievances | Grievances RA | Risk Management Policy | Risk Disclosure | Advertisement Disclaimer | Referral Terms & Conditions | Saarthi 2.0 Mobile App for Investors