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Buying silver and gold during festivities has always been considered auspicious in India. It has been a mode of investment in physical assets for various households. On the other hand, institutional investors have always seen silver as a way to diversify their portfolios and avoid the risk of concentration.
You can invest in silver through various investment channels including:
Physical silver in the form of jewellery, coins, and bars
Silver Exchange-Traded Funds (ETFs)
Silver investment in India’s futures market
However, if you wish to buy silver either for savings or investment purposes, you must be aware of the prevailing silver rate in Chennai. This would help you make the right decision about how much silver to buy and when to purchase it.
So, read on to find out about the silver rate today in Chennai and what are the factors that influence its prices.
Silver is an attractive option for investment for those who wish to buy physical assets. Moreover, its affordability makes it the best investment instrument for you if you are low on funds and cannot invest in the yellow metal.
However, before purchasing silver for investment purposes, you must know that silver prices in Chennai fluctuate daily. The following table presents the trends of silver rates in Chennai in the last 03 days:
Date |
1 Gram Silver Price in Chennai |
10 Grams Silver Price in Chennai |
100 Grams Silver Price in Chennai |
1 Kg Silver Price in Chennai |
Change in Silver Rate in Chennai Per Kg |
|---|---|---|---|---|---|
April 11, 2025 |
₹108 |
₹1,080 |
₹10,800 |
₹1,08,000 |
₹1,000 |
April 10, 2025 |
₹107 |
₹1,070 |
₹10,700 |
₹1,07,000 |
₹5,000 |
April 09, 2025 |
₹102 |
₹1,020 |
₹10,200 |
₹1,02,000 |
0 |
The silver prices in Chennai fluctuate daily because of a number of factors influencing them in the background. The following are the factors impacting the silver prices in Delhi:
Purity of the Metal
One of the most important factors that influence today's silver rate in Chennai. The purest form of silver will be higher in price as compared to the one with zinc or copper mixed in it.
For instance, Grade 9999 is the finest grade of silver as categorised by the Bureau of Indian Standards (BIS). Whereas Grade 9250 is sterling silver with only 92.5% of pure silver and 7.5% zinc or copper. The price of the latter is lower as compared to Grade 9999 silver.
Demand and Supply
The law of demand and supply governs the prices of most of the commodities in the market including silver. If the demand for silver remains stagnant or lowers, the prices of the metal will also fall. However, if there is an increase in its demand, its prices will soar.
Considering that the demand remains constant if the supply of the metal gets impacted due to some geopolitical reasons, silver prices will rise. Similarly, the price of silver will decrease if there is an abundance of silver in the market.
Inflation
Many institutional investors like to invest in silver because it is considered a hedge against inflation. Inflation affects everyone and everywhere and hence, investments in this metal are a great way to secure your savings for the future.
When the inflation rates are higher, the silver price in Chennai follows suit. On the other hand, as inflation subsides, the silver rates also dip.
Strength of the US Dollar
The US Dollar is the major currency of the world, with most international transactions relying on its value. This is why the US Dollar has a direct relation with the price of silver. If the value of the US Dollar appreciates, the silver price today in Chennai will rise.
Alternatively, if the value of the US Dollar falls, the price of this precious metal will also tank. This is because the devaluation of the US Dollar against foreign currencies will sink the demand for silver.
Geopolitical and Economic Trends
Ever-changing geopolitical situations including wars, aggression, annexation, and political instability is the major factor influencing the silver rate today in Chennai.
In such uncertain situations, people lose trust in other investment instruments and flock toward investing in such assets. This increases the demand for silver and eventually, the price of this metal also soars.
On the other hand, political stability spurs economic growth. Hence, in a politically stable economy, the prices of hard assets including silver will remain lower as people find different investment avenues to invest in.
Policies of the Central Bank
Central Banks are made responsible for maintaining the monetary and credit policy of the country. For instance, the Reserve Bank of India holds a Monetary Policy Committee meeting bi-monthly. The revisions made in the monetary policy result in fluctuations in silver prices.
Moreover, Central Banks also keep in store silver bullion just like gold reserves. Buying of silver by the Central Bank increases demand and raises the silver price and vice versa.
Large Private Institutional Investors
Large private institutional investments also have a great potential to influence the silver price today in Delhi. For example, when Warren Buffet purchased 4000 metric tons of silver, the silver prices hiked worldwide.
If a private institutional investor decides to purchase a large quantity of silver at once, it will push the price of this metal upward. On the other hand, the silver price in Chennai will tank if an investor sells a large quantity of silver.
Gold Prices
Historically speaking, silver prices have always rallied behind gold prices. So, if the gold prices rise, the silver rate today in Chennai will also go up. On the other hand, if gold prices fall, silver prices will also follow a similar trend.
Demand in Industries
Silver is a superconductor of heat and electricity, making it an important element in modern industries. Silver has seen an increasing demand in sectors like automobiles, computers, and batteries.
As industries are relying more on silver, the demand for this metal is also increasing constantly. This has been a major reason behind the steady increase in the silver rates.
Rate of Interest
When the inflation rate is low, the Central Banks increase the repo rate to pump in money in the economy and vice versa. Hence, the prevailing interest rates are indicative of the condition of an economy.
If the interest rates are high, people tend to invest in other investment avenues other than silver and gold. This ultimately results in decreased demand as well as lower silver prices. On the other hand, when interest rates are lower, people flock toward investing in gold and silver.
In conclusion, if you wish to invest in silver, you must assess how much you wish to buy and determine the right time of investment. For this, you must be aware of the silver price in Chennai today.
However, before investing in silver, note that its prices are determined based on a number of underlying factors. So, to make your investment profitable, take into account these factors.
There are many factors that influence the silver price in Chennai, these include supply and demand metrics, transportation costs, economic situation, etc.
There are many factors that determine the silver price in Chennai. These factors include demand and supply, inflation, geopolitical situation, Central Bank policies, etc.
You can invest in physical silver like silver jewellery, coins, and bars. Other than that, you can also invest in silver through silver Exchange-traded Funds (ETFs) and futures markets.
Yes, a 3% GST is levied on silver which impacts silver prices in Chennai.
BIS-recognised Grade 9999 silver is considered the purest in the country.
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