Where can I buy silver bars in India?

Silver bars can be purchased in India from public sector banks, private sector banks, and jewellers.

What exactly is hallmarking?

Hallmarking is the process of officially recording and determining the metal content of gold/silver items. It is used as a guarantee seal that ensures purity and is recognised in many countries.

Is there any tax on silver purchases?

Yes, you must pay a levied service tax when you buy silver. If you pay in cash for silver bullion worth more than Rs. 5 lakh, you will be charged a 1% tax.

What are the benefits of purchasing silver coins from a bank?

Purchasing silver coins from a bank ensures the silver's quality and authenticity. Each bank purchase of silver comes with a quality certificate. The bank would sell the silver to you at the current market rate, reducing the possibility that you would overpay for the silver.

Which silver bullion is the best to buy?

While there is no 'best silver' to buy, there are some benefits to purchasing silver coins. They are inexpensive to transport and liquidate, making them an excellent investment. They are also easier to collect than silver bars, and junk silver coins can be purchased for less than the spot price.

In India, where can I sell my silver bullion?

Bullion (in the form of coins and bars) can be sold to authorised bullion dealers. Banks are not permitted to buy back bullion that they have sold.

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Silver Rate Today in Chennai (Thursday, Aug 29, 2024)

SILVERGOLD

Aug 29, 2024

SILVER Rate in Chennai₹852.5 / 10 gm10 gram₹8

Today 10 gram silver Price/gm in Chennai (INR)

GM	Today's Price	Yesterday's Price	Price Change
1	₹85.25	₹84.45	₹0.8
10	₹852.5	₹844.5	₹8
100	₹8,525	₹8,445	₹80

silver Rate in Chennai for Last 10 Days (1 kg)

Date	Price
2024-08-28	₹84,450 (1750)
2024-08-27	₹86,200 (100)
2024-08-26	₹86,100 (420)
2024-08-25	₹85,680 (10)
2024-08-24	₹85,670 (0)
2024-08-23	₹85,670 (1550)
2024-08-22	₹84,120 (1280)
2024-08-21	₹85,400 (180)
2024-08-20	₹85,220 (410)
2024-08-19	₹84,810 (1100)

Month Wise silver Rate Trend In Chennai

Trend of Silver Price in Chennai, Jul 2024

	Silver Price
1st July Rate	₹94,700.00
31st July Rate	₹91,000.00
Highest Rate in Jul, 2024	₹1,00,500.00
Lowest Rate in Jul, 2024	₹89,000.00
Overall Performance	Falling
% Change	-3.91%

Trend of Silver Price in Chennai, Jun 2024

	Silver Price
1st June Rate	₹98,000.00
30th June Rate	₹94,500.00
Highest Rate in Jun, 2024	₹1,00,500.00
Lowest Rate in Jun, 2024	₹94,500.00
Overall Performance	Falling
% Change	-3.57%

Trend of Silver Price in Chennai, May 2024

	Silver Price
1st May Rate	₹86,500.00
31st May Rate	₹1,00,000.00
Highest Rate in May, 2024	₹1,02,200.00
Lowest Rate in May, 2024	₹86,500.00
Overall Performance	Rising
% Change	15.61%

Trend of Silver Price in Chennai, Apr 2024

	Silver Price
1st April Rate	₹81,600.00
30th April Rate	₹87,000.00
Highest Rate in Apr, 2024	₹90,500.00
Lowest Rate in Apr, 2024	₹81,600.00
Overall Performance	Rising
% Change	6.62%

Trend of Silver Price in Chennai, Mar 2024

	Silver Price
1st March Rate	₹76,200.00
31st March Rate	₹81,000.00
Highest Rate in Mar, 2024	₹81,500.00
Lowest Rate in Mar, 2024	₹76,200.00
Overall Performance	Rising
% Change	6.30%

Trend of Silver Price in Chennai, Feb 2024

	Silver Price
1st February Rate	₹77,800.00
29th February Rate	₹75,700.00
Highest Rate in Feb, 2024	₹78,000.00
Lowest Rate in Feb, 2024	₹75,400.00
Overall Performance	Falling
% Change	-2.70%

Trend of Silver Price in Chennai, Jan 2024

	Silver Price
1st January Rate	₹80,000.00
31st January Rate	₹78,000.00
Highest Rate in Jan, 2024	₹80,300.00
Lowest Rate in Jan, 2024	₹76,500.00
Overall Performance	Falling
% Change	-2.50%

Trend of Silver Price in Chennai, Dec 2023

	Silver Price
1st December Rate	₹82,500.00
31st December Rate	₹80,000.00
Highest Rate in Dec, 2023	₹83,500.00
Lowest Rate in Dec, 2023	₹77,000.00
Overall Performance	Falling
% Change	-3.03%

Trend of Silver Price in Chennai, Nov 2023

	Silver Price
1st November Rate	₹77,000.00
30th November Rate	₹82,200.00
Highest Rate in Nov, 2023	₹82,200.00
Lowest Rate in Nov, 2023	₹75,400.00
Overall Performance	Rising
% Change	6.75%

Trend of Silver Price in Chennai, Oct 2023

	Silver Price
1st October Rate	₹76,000.00
31st October Rate	₹78,200.00
Highest Rate in Oct, 2023	₹78,700.00
Lowest Rate in Oct, 2023	₹73,000.00
Overall Performance	Rising
% Change	2.89%

Trend of Silver Price in Chennai, Sep 2023

	Silver Price
1st September Rate	₹80,200.00
30th September Rate	₹76,000.00
Highest Rate in Sep, 2023	₹80,200.00
Lowest Rate in Sep, 2023	₹76,000.00
Overall Performance	Falling
% Change	-5.24%

Trend of Silver Price in Chennai, Aug 2023

	Silver Price
1st August Rate	₹81,000.00
31st August Rate	₹80,700.00
Highest Rate in Aug, 2023	₹81,000.00
Lowest Rate in Aug, 2023	₹75,700.00
Overall Performance	Falling
% Change	-0.37%

Trend of Silver Price in Chennai, Jul 2023

	Silver Price
1st July Rate	₹75,700.00
31st July Rate	₹80,000.00
Highest Rate in Jul, 2023	₹82,400.00
Lowest Rate in Jul, 2023	₹75,500.00
Overall Performance	Rising
% Change	5.68%

Trend of Silver Price in Chennai, Jun 2023

	Silver Price
1st June Rate	₹77,600.00
30th June Rate	₹74,800.00
Highest Rate in Jun, 2023	₹79,800.00
Lowest Rate in Jun, 2023	₹74,000.00
Overall Performance	Falling
% Change	-3.61%

Trend of Silver Price in Chennai, May 2023

	Silver Price
1st May Rate	₹80,200.00
31st May Rate	₹76,800.00
Highest Rate in May, 2023	₹83,700.00
Lowest Rate in May, 2023	₹76,200.00
Overall Performance	Falling
% Change	-4.24%

Trend of Silver Price in Chennai, Apr 2023

	Silver Price
1st April Rate	₹77,700.00
30th April Rate	₹80,400.00
Highest Rate in Apr, 2023	₹83,000.00
Lowest Rate in Apr, 2023	₹77,100.00
Overall Performance	Rising
% Change	3.47%

Trend of Silver Price in Chennai, Mar 2023

	Silver Price
1st March Rate	₹70,200.00
31st March Rate	₹77,500.00
Highest Rate in Mar, 2023	₹77,500.00
Lowest Rate in Mar, 2023	₹67,300.00
Overall Performance	Rising
% Change	10.40%

Trend of Silver Price in Chennai, Feb 2023

	Silver Price
1st February Rate	₹76,000.00
28th February Rate	₹69,200.00
Highest Rate in Feb, 2023	₹77,800.00
Lowest Rate in Feb, 2023	₹69,000.00
Overall Performance	Falling
% Change	-8.95%

Trend of Silver Price in Chennai, Jan 2023

	Silver Price
1st January Rate	₹74,300.00
31st January Rate	₹74,500.00
Highest Rate in Jan, 2023	₹75,800.00
Lowest Rate in Jan, 2023	₹73,500.00
Overall Performance	Rising
% Change	0.27%

Chennai Facts

On the Bay of Bengal in eastern India, Chennai is the capital of the state of Tamil Nadu (TN). In Chennai (like other cosmopolitan cities like Mumbai or Delhi), the rate of silver is a reflection of the international silver rate. The rate itself is decided by various market dynamics. In India, this "not so precious metal" is traded mainly on the MCX or Multi-Commodity Exchange. This is also among the top 3 destinations worldwide for silver trading.

In our nation, silver is among the most popular commodities. However, its production in the country is minimal. Hence, most of the internal demand has to be met through imports. In Chennai, for buyers, silver has emerged not only as a metal for jewellery but also as a safe bet for savings in the short and long run. Silver here is popular among the middle class.

Generally, silver is available at 999 purity. Simply it means that out of 1000 parts of the final alloy, 999 parts are pure white metal. In Chennai, the rate of silver is decided as per the weight of it in grams and troy weights. For measurement, popular units include grams, ounces, million ounces, tolas, kilograms, tonnes, short tonnes, and metric tonnes.