Silver in Madurai is ₹2,21,109 a kilogram, or ₹221 a gram, for 999 fine metal on the IBJA afternoon fix of 9 Oct 2026. That is up 1.84% on the previous session. Add 3% GST and the jeweller's making charge to reach a bill.
Checked at source 9 Oct 2026·India Bullion and Jewellers Association (IBJA)
Silver rate in Madurai today, by weight
IBJA fixes silver per kilogram at 999 fineness. Everything below is that fix divided down, with and without the 3% GST that applies whether the metal is bar or article.
Checked at source 9 Oct 2026·India Bullion and Jewellers Association (IBJA)
Silver price in Madurai, session by session
Silver moves further than gold on the same news. The morning and afternoon fixes can differ by more than a per cent on an active day, which is a real difference on a kilogram.
Checked at source 9 Oct 2026·India Bullion and Jewellers Association (IBJA)
Silver over five years, in rupees
Checked at source 29 Sep 2026·LBMA benchmark prices, converted at ECB reference rates
Checked at source 29 Sep 2026·COMEX front-month converted at USD/INR spot
Silver year by year
Checked at source 29 Sep 2026·COMEX front-month converted at USD/INR spot
Where to buy silver in Madurai
The silver trade in Madurai sits in Town Hall Road and Masi Streets. The Masi street ring around the Meenakshi temple is one of the oldest continuously trading gold quarters in south India.
Jewellery houses founded in Madurai or elsewhere in Tamil Nadu include Thangamayil and Ramaswamy. A chain’s own board rate is its rate, not the benchmark: it already carries the house’s premium and it is the making charge underneath, not the headline, that decides what the piece costs.
Silver in the south goes into temple articles, lamps and gifting rather than into investment bar. The labour on those is a large share of the bill, so the metal rate is only the starting point.
- Bullion market
- Town Hall Road and Masi Streets
- BIS hallmarking centres
- 10 operative
- State
- Tamil Nadu
The Masi street ring around the Meenakshi temple is one of the oldest continuously trading gold quarters in south India.
Jewellery houses founded in Madurai or its state: Thangamayil, Ramaswamy.
Checked at source 9 Sep 2026·huid.manakonline.in
Owning silver without storing it
A kilogram of silver is a physical problem in a way a hundred grams of gold is not. The funds below hold the metal in a vault and trade in units.
Checked at source 10 Oct 2026·portal.amfiindia.com
What silver’s own numbers imply from here
Realised volatility over the last year is 60.9% annualised. Applied to the fix of ₹2,21,109, that puts about two years in three inside these bounds.
How silver has moved by month
Average move from the first close of the month to the last, over every complete month in the five-year series.
Checked at source 29 Sep 2026·Computed from five years of daily closes
Tax when you sell silver
Checked at source 17 Aug 2026·Income Tax Act, as amended by the Finance Act
Hallmarking centres in Madurai
Madurai has 10 operative BIS-recognised assaying and hallmarking centres, which places it 18th of the fifty cities on this site. Workable, but not deep. A jeweller here is more likely to send pieces out for hallmarking in batches than to have it done the same day. Hallmarking is compulsory on gold jewellery, and the mark carries a six-digit HUID that can be checked against the BIS register before money changes hands. Every centre below is named in that register.
Checked at source 9 Sep 2026·huid.manakonline.in
Gold in Madurai
Both legs are the IBJA fix for the same session, so the ratio moves only when one metal moves against the other.
Common questions
What is the silver rate in Madurai today?
Silver of 999 fineness is ₹2,21,109 a kilogram, or ₹221 a gram, on the IBJA fix of 9 Oct 2026, before 3% GST.
What does 100 grams of silver cost in Madurai?
100 grams of 999 silver is ₹22,111 at the fix, or ₹22,774 with GST added.
Why is the making charge higher on silver than on gold?
It is not higher in rupees. It is higher as a share of the bill, because the labour on a silver article costs much the same as on a gold one while the metal underneath is a fraction of the price.
Does the silver rate change by city?
IBJA fixes one rate for India and it is the rate lenders and jewellers price against. What changes locally is the making charge, the dealer premium on small pieces and how much competition there is: Madurai has 10 BIS-recognised assaying and hallmarking centres.
Has silver gone up or down over the last year?
Silver is up 40.2% over twelve months, and up 265.1% over five years, measured in rupees.
Other cities in Tamil Nadu
Silver rates across India
- Silver rate in Mumbai
- Silver rate in Kolkata
- Silver rate in Delhi
- Silver rate in Ahmedabad
- Silver rate in Bengaluru
- Silver rate in Hyderabad
- Silver rate in Surat
- Silver rate in Rajkot
- Silver rate in Pune
- Silver rate in Jaipur
- Silver rate in Thrissur
- Silver rate in Thane
- Silver rate in Patna
- Silver rate in Lucknow
- Silver rate in Kanpur
- Silver rate in Kochi
- Silver rate in Varanasi
- Silver rate in Kolhapur
- Silver rate in Cuttack
- Silver rate in Kozhikode
- Silver rate in Meerut
- Silver rate in Ghaziabad
- Silver rate in Jodhpur
- Silver rate in Raipur
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