Silver has always held a special place in Chennai’s culture and economy. From traditional jewellery and utensils to investment options like coins and bars, silver continues to be a preferred choice for both adornment and savings. The silver rate in Chennai changes daily based on multiple factors such as global market trends, currency exchange rates, and local demand. Understanding these dynamics can help buyers make informed decisions before purchasing silver in any form.
Gram | Today | Yesterday |
|---|---|---|
| 1 gm | ₹177.65 | ₹171.26 |
| 8 gm | ₹1,421.16 | ₹1,370.12 |
| 10 gm | ₹1,776.45 | ₹1,712.65 |
| 100 gm | ₹17,764.52 | ₹17,126.49 |
| 1000 gm | ₹1,77,645.22 | ₹1,71,264.95 |
Date | Rate | Change in % |
|---|
Silver rates in Chennai are influenced by international market prices, local bullion associations, and the Indian Bullion and Jewellers Association (IBJA), which provides daily benchmark rates.
Price differences arise due to variations in local demand, transportation costs, import duties, and regional taxes. Chennai’s active jewellery and industrial markets also influence its specific pricing.
While silver prices fluctuate daily, rates often dip during global economic stability or low demand periods. Tracking market trends and buying during off-peak seasons may help secure better rates.
There is no official limit on owning silver in Chennai. However, for income tax purposes, one should be able to justify the source of investment, especially for large quantities.
It depends on your purpose. For investment, coins or bars of 999 purity are ideal due to lower making charges. For personal use or gifting, silver jewellery and articles are excellent choices, though they carry higher fabrication costs.
