Tamil Nadu · 26 July 2026 · 09:52 AM IST
| Weight | Base Price | Incl. GST (3%) | 925 Sterling |
|---|---|---|---|
| 1 Gram | ₹241.92 | ₹249.18 | ₹223.78 |
| 5 Grams | ₹1,209.60 | ₹1,245.89 | ₹1,118.88 |
| 10 Grams | ₹2,419.20 | ₹2,491.78 | ₹2,237.76 |
| 1 Tola (11.66g) | ₹2,821.71 | ₹2,906.36 | ₹2,610.08 |
| 100 Grams | ₹24,192.00 | ₹24,917.76 | ₹22,377.60 |
| 500 Grams | ₹120,960.00 | ₹124,588.80 | ₹111,888.00 |
| 1 Kilogram | ₹241,920 | ₹249,178 | ₹223,776 |
| 1 Troy Oz | ₹7,524.56 | ₹7,750.30 | ₹6,960.22 |
Silver in Chennai has decreased by Rs.0.97/gram today, now trading at Rs.241.92/gram. This local price adjustment reflects broader MCX movements and international spot market trends. Retail demand in Chennai remains steady as buyers evaluate current price levels against historical averages. Traders are closely monitoring the support and resistance levels to gauge short-term volatility in the precious metals market.
The current bearish sentiment in silver is heavily influenced by international factors, particularly US Federal Reserve interest rate expectations and global industrial demand in the EV and solar sectors. Domestically, the USD/INR exchange rate hovering around Rs.85.5 plays a critical role in determining landing costs. Furthermore, Indian import duties and seasonal festive demand continue to impact the final retail price for consumers.
When purchasing silver in Chennai, always prioritize buying BIS hallmarked 999-purity bars or coins from authorised dealers to ensure authenticity. For jewelry, 925 sterling silver is the standard, though making charges can vary significantly. Investors looking to avoid storage and making costs should consider Silver ETFs listed on the NSE/BSE as a highly liquid and secure alternative.
First, check the live MCX benchmark rate to understand the baseline price. Second, visit a reputed, BIS-certified jeweller in Chennai and ask for hallmarked silver items. Third, negotiate making charges which typically range from 10% to 20% on jewelry. Finally, complete your purchase using a digital payment method and ensure you receive a proper GST invoice for future resale or exchange.