Tamil Nadu · 28 October 2026 · 12:19 AM IST
| Weight | Base Price | Incl. GST (3%) | 925 Sterling |
|---|---|---|---|
| 1 Gram | ₹221.76 | ₹228.41 | ₹205.13 |
| 5 Grams | ₹1,108.80 | ₹1,142.06 | ₹1,025.64 |
| 10 Grams | ₹2,217.60 | ₹2,284.13 | ₹2,051.28 |
| 1 Tola (11.66g) | ₹2,586.56 | ₹2,664.16 | ₹2,392.57 |
| 100 Grams | ₹22,176.00 | ₹22,841.28 | ₹20,512.80 |
| 500 Grams | ₹110,880.00 | ₹114,206.40 | ₹102,564.00 |
| 1 Kilogram | ₹221,760 | ₹228,413 | ₹205,128 |
| 1 Troy Oz | ₹6,897.51 | ₹7,104.44 | ₹6,380.20 |
The rise in silver prices in Chennai today by Rs.0.76/gram to Rs.221.76/gram is primarily due to strong domestic demand, particularly festive season buying, and favorable COMEX trends. The local MCX price has also shown an upward trend, supporting the current price levels. Despite a slight increase in import duties, the overall sentiment remains positive, indicating a robust market environment for silver in Chennai.
Global macroeconomic factors are playing a significant role in the price dynamics of silver. The US Federal Reserve’s interest rate hikes are expected to strengthen the USD, potentially pushing up the USD/INR exchange rate, which could make silver more expensive for Indian buyers. However, strong international demand, particularly from Asia, is keeping prices stable. In India, the Indian Bullion & Jewellers Association (IBJA) rates are closely aligned with MCX prices, suggesting a healthy domestic market. The monsoon outlook, while currently positive, does not directly impact silver prices but reinforces the festive buying season, which is a key driver for demand in Chennai.
For local consumers in Chennai, it’s advisable to purchase silver from trusted retailers that adhere to BIS hallmark standards to ensure the purity and authenticity of the silver. Investors should consider diversifying their portfolio with ETFs and physical silver holdings to hedge against inflation. With the current price stability, buying silver can be a strategic investment, especially given the strong festive demand and favorable market conditions.
To securely buy physical silver or paper silver in Chennai, first research and choose a reputable dealer or online platform that offers competitive prices and BIS hallmark standards. For physical silver, visit a trusted local jeweler or bullion dealer. For paper silver, register on a secure online platform. Ensure to verify the dealer’s credentials and read the terms and conditions before making a purchase. Secure payment methods and clear delivery policies are crucial for a smooth transaction.