Silver Rate Today in Tamil Nadu - 1 Gram and 1 Kg Price

Silver as an Investment in Tamil Nadu

Silver, often referred to as the ‘poor man’s gold’, is a traditional investment option that caters to different sections of society. Silver is considered a valuable asset that can serve as a store of value and may help protect against rising prices and inflation. Silver coins and bars are common forms of investment. A decline in silver prices may make the metal more attractive to some investors.

Physical Silver: Silver is widely purchased in the form of coins and 1 kg bars. Silver jewellery, including temple jewellery, artefacts used for rituals, and items purchased for auspicious occasions, is popular across various towns and cities in Tamil Nadu. From traditional silver jewellery, such as toe rings and anklets, to antique jewellery and artefacts, silver is available in multiple forms. Silver articles are also in demand during the festive season.

Silver Contracts: Silver is traded in spot and futures markets. In India, silver futures contracts are available on the Multi Commodity Exchange (MCX) and the National Stock Exchange (NSE). MCX offers silver futures contracts in different sizes, including Silver (30 kg), Silver Mini (5 kg), Silver Micro (1 kg), and Silver 100 (100 grams). These contracts allow market participants to manage price risk or trade based on their expectations of silver price movements. Contract specifications and applicable margins vary, so traders should check the latest details published by the exchange.

Forms of Silver Available in Tamil Nadu

The following are some of the main forms of silver available in Tamil Nadu:

• Jewellery
• Bullion
• Coins
• Bars
• Household items

Silver coins are available in different weight options in Tamil Nadu, including 1 gram, 2 grams, 5 grams, 10 grams, 15 grams, 25 grams, 40 grams, 50 grams, 100 grams, 200 grams, 500 grams and 1 kilogram. The available weights may vary depending on the seller.

Silver bars are also available in different weights and purity levels. Common options include bars weighing 10 ounces, 100 grams, 500 grams and 1 kilogram. Their purity may range from 999 to 999.9 fineness, depending on the manufacturer and product.

Factors to Consider Before Purchasing Silver in Tamil Nadu

The following are the main factors to consider before purchasing silver items in Tamil Nadu:

• Current Price Trend: Silver prices fluctuate almost daily. Therefore, it is important to track the latest price trends to make an informed purchase decision.
• Form of Silver: The price of silver may vary depending on the form you choose to purchase, such as jewellery, coins, or bars, and the seller you buy it from.
• Source of Purchase: Choose a reputable jeweller or authorised seller to ensure that you purchase genuine silver products.
• Certifications: Before purchasing silver, check the applicable hallmarking or purity markings to verify its purity and authenticity.
• Making Charges: Making charges may apply to silver jewellery and other crafted items. Compare these charges across jewellers while considering the quality and authenticity of the silver products.

Purity Levels of Silver

Silver is graded according to its purity, which depends on the proportion of other metals, such as copper, mixed with silver. The following table lists the silver purity grades recognised under the current Indian BIS standard, IS 2112:2025.

What are the Certification Marks that Should be Present on Silver?

The following are the three components to look for on BIS-hallmarked silver jewellery and articles in India:

• BIS Standard Mark: The Bureau of Indian Standards (BIS) mark, accompanied by the word ‘SILVER’.
• Purity Grade Indicator: A number such as 800, 925 or 999 that indicates the silver's fineness.
• Hallmarking Unique Identification (HUID) Code: A unique six-character alphanumeric code that helps identify and verify the hallmarked silver article.

You can verify the HUID using the BIS CARE app to check details such as the purity grade, article type and jeweller's registration information.