Silver Rate Today in India (14th Dec 2024)

Silver (10 gram)₹902▲2(0.25 %)

Silver (100 gram)₹9,020▲22(0.25 %)

Last Updated: 14th Dec 2024

If you're looking to invest in silver or to buy silver jewellery for personal use, find here all vital information you may need before going ahead with your purchase. Find here the latest prices for Silver in India and also compare them to make an informed decision. Silver rate in India today is ₹902 per 10 grams and ₹9,020 per 100 grams. All prices have been updated today and are on a par with industry standards.

10 Gram, 100 Gram & 1 kg Silver Prices in India Today

Price	10 Gram	100 Gram	1 Kg
Silver Price	₹902	₹9,020	₹90,200

Silver Price For Last 10 Days in India

Date	Silver (10g)
14th Dec	₹902 (+₹2)
13th Dec	₹900 (-₹33)
12th Dec	₹933 (+₹6)
11th Dec	₹927 (-₹1)
10th Dec	₹928 (+₹10)
9th Dec	₹918 (+₹10)
8th Dec	₹908 (₹0)
7th Dec	₹908 (₹0)
6th Dec	₹908 (-₹4)
5th Dec	₹912 (+₹12)

Silver Price History in India

1M 3M 6M 1Y 5Y

Price Before	Silver (10g)	% Change (Today vs Prev)
1 Month	₹871	+3.56%
3 Months	₹883	+2.14%
6 Months	₹876	+3.02%
1 Year	₹743	+21.44%
5 Year	₹390	+131.19%

Compare Silver vs Gold Performance

1M 3M 6M 1Y 5Y

Monthly Silver Price Movement

Silver Price	Silver (10g)
1st Nov 2024	₹966
30th Nov 2024	₹893
NOV Highest	₹966
NOV Lowest	₹871
Price Performance(Beginning Month to end Month)	▼7.54%

Silver Rate Today in Major Cities in India

City	Silver (10g)	Silver (100g)
Silver price in Hyderabad	₹905	₹9,047
Silver price in Bengaluru	₹903	₹9,029
Silver price in Delhi	₹903	₹9,029
Silver price in Chennai	₹905	₹9,047
Silver price in Ahmedabad	₹903	₹9,029
Silver price in Mumbai	₹904	₹9,038
Silver price in Kolkata	₹904	₹9,038
Silver price in Jaipur	₹905	₹9,047
Silver price in Pune	₹903	₹9,029
Silver price in Lucknow	₹904	₹9,038
Silver price in Vijayawada	₹904	₹9,038
Silver price in Patna	₹903	₹9,029
Silver price in Chandigarh	₹904	₹9,038
Silver price in Surat	₹903	₹9,029
Silver price in Visakhapatnam	₹904	₹9,038
Silver price in Mysore	₹905	₹9,047
Silver price in Coimbatore	₹904	₹9,038
Silver price in Vadodara	₹904	₹9,038
Silver price in Bhubaneswar	₹904	₹9,038
Silver price in Nagpur	₹904	₹9,038
Silver price in Madurai	₹904	₹9,038
Silver price in Nashik	₹904	₹9,038
Silver price in Gurgaon	₹905	₹9,047
Silver price in Mangalore	₹904	₹9,038

Things to Know

Silver Pricing in India

Aside from stocks, real estate, and bonds, the Indian market offers you to invest in commodities such as silver and gold. The commodity markets are more stable than the equity and mutual fund investments. The pricing structure of Silver is based on three factors: price of silver per gram, weight of silver being purchased, and purity rating of silver being purchased.
When purchasing silver jewellery and artefacts, the price you pay often includes the item's cost, production charges, any applicable hallmarking duties, and goods and services tax (GST). Let's say you wish to purchase a 50 grams silver anklet. The jeweller quotes silver at ₹60 per gramme. The silver jewellery will be worth ₹60 x 50 x 0.925 = ₹2,775. Here, 0.925 indicates that 92.5% of pure silver is present in the anklet. The jeweller will add on making charges, hallmarking fees (if applicable), and GST at 3% to this pricing. read less

Factors Affecting Silver Price in India

There\’re various factors that affect silver prices in India. Although the price of silver has been steadily rising over the last two decades, historical trends should not be used to forecast future prices. Here are a few factors that influence India's fluctuating silver rates on a daily basis.

Demand and supply factor: One of the key elements that greatly influences the silver rate in India is the demand and supply equation.
Oil prices: Since silver mining is a labour-intensive operation, fluctuations in oil prices have a direct impact on silver's rate. Any change in the price of oil causes a corresponding change in the price of silver.
Industrial demand: The demand for silver as a commodity has increased as India advances towards industrialisation, driving up the price of silver.
Import duties: Silver is a commodity which India imports. As a result, the rate of import tariff has a direct impact on the silver rate. A high import tax directly causes the price of silver to increase.
US dollar fluctuation: The rupee's value in proportion to the dollar affects silver prices. Silver will cost more if the rupee depreciates against the dollar if global prices stay the same.
Gold rate: The ideal trend for silver prices is the same as for gold. Silver will follow suit if there is a change in gold demand, which will eventually cause the price of gold to change, and further affects silver prices.
Trade deficit: The amount of imported goods determines how much of a trade deficit a nation has. Just like with the import of gold, an increase in trade deficits prompts the government to take action to limit the import of certain commodities.
Inflation: One of the favoured options for an inflation hedge are commodities like silver and gold. Because of inflation, silver prices typically rise.

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Best Options to Make Investment in Silver

In India, silver is available in the form of jewellery, coins, ETFs, artefacts, cutlery, and other products. You can buy silver coins from a bank or jeweller. However, buying silver coins from banks can be a bit costly because you also need to pay for packing and assay certificate fees. Additionally, buying silver coins is usually a smart move because they are less expensive than silver jewellery and artefacts. Charges for the manufacture and melting of silver jewellery and artefacts must also be paid. India has three exchanges where silver ETFs can be bought: MCX, NCDEX, and NMCE. read less

Silver Demand in India

Silver serves as both a valuable industrial metal and a useful precious metal. Since silver is a useful metal with a variety of industrial uses, with the industrial sector consuming about half of its supply, demand for silver is rising in India. About 10% of India's imports of commodities are silver and gold. The price of silver has increased in India, where it is now regulated daily based on a number of variables. Multi Commodity Exchange (MCX), an independent organisation that trades a variety of commodities but excluding non-ferrous metals, is where silver is traded in India. read less

Silver Commodity Trading in India

Silver as a commodity is traded at the below three commodity exchanges in India:

Multi Commodity Exchange (MCX)
National Commodity & Derivatives Exchange (NCDEX)
National Multi Commodity Exchange (NMCE)

Investors who want to trade silver must have a Demat account, and they can also buy silver online. NSEL, a National Spot Exchange where investors can trade in e-gold, e-silver, and other commodities, is another venue for silver trading. read less

Reason for Silver Investment in India

You should make an investment due to the following reasons:

Demand: An individual has a good incentive to invest in silver because the industrial sectors that use it for production are constantly in demand for it.
Supply shortage: Silver is becoming more and more rare as a result of its high demand. As a result, an unstable demand-to-supply ratio raises the price of silver, placing silver investors in a very advantageous financial position.
Market trends: The demand for silver typically increases during festival and wedding seasons, which drives up silver prices. Because of this, silver is a fantastic investment because you can sell it for more money.
Silver is cheaper than gold: Compared to gold, silver is more affordable and may be bought in larger amounts. The cost of 10 grams of gold is equal to the cost of 1 kilogram of silver.
Shields against inflation: In times of financial difficulty, currencies frequently take a backseat. Silver investment is a wise choice in these circumstances.
Outperforms gold in the bull market: By earning more value than gold during the bull market, silver has outperformed gold. In the bull market, silver is frequently viewed as an underdog that can distinguish your financial portfolio.
Best in emergency situations: Silver can be helpful in a crisis. Silver retains its worth regardless of currency fluctuations, and you can sell silver to cover losses if you find yourself in a tight financial situation.
Simple storage: With the advent of e-silver products, you can store silver with ease and peace of mind that it won't be lost or stolen.

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Uses of Silver

Unique properties of silver make it a useful metal that is mainly used for many purposes, including:

Radiology: Silver sutures, silver needles, and other items are used in the field of radiology to stitch wounds and stop infections.
Solar panels: In the form of a silver paste, silver, a crucial metal, is utilised to create silver panels. Because of its exceptional electrical and thermal conductivity, silver transforms solar energy into photovoltaic energy.
Mirrors: Because of its reflecting qualities, silver is utilised in mirrors to reflect 95–99% of light.
Stained glass: Since the early 14th century, clay, gum, or turpentine have been used with silver to create stained glass.
Treating warts and corns: Silver and potassium nitrate are combined to create the widely used caustic pencil, which is used to treat corns and warts.
Jewellery: Silver is used to make a variety of jewellery items, including rings, necklaces, bracelets, pendants, and watches.

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Buying into Silver Futures in India

The term "silver futures" refers to a silver trade-in that corresponds to this pattern, where a down payment is made, a contract is signed, and the full delivery is planned for the agreed-upon date. There is risk associated with silver futures because they are based on speculation. Similar to gold, silver futures are regarded as a generally secure investment. Futures allow purchasers to set a cap on their possible losses, which incentivises potential hedgers. Producers, portfolio managers, and consumers who want to minimise price risk, guard against inflation, and profit from favourable price fluctuations frequently use futures.
The following is a list of some of the main advantages of trading silver futures:

The physical delivery would only happen in the future, so a buyer wouldn't need to spend extra money on locating an urgent storage facility.
Even though the contract is signed on a specific date, the buyer could be given more time to make final payment to clear the balance.
A person has the option to short sell silver.
There is sufficient liquidity to be offered, despite it not being fully liquid.

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Some Facts About Silver

One of the most sought-after precious metals in India is silver, a malleable, ductile, and shiny non-ferrous metal. Here are some facts regarding silver that are important to know:...read more

The word "silver" comes from the Anglo-Saxon word "seolfor."
Compared to copper, silver is a superior conductor of electricity.
Silver has the highest heat conductivity of any metal.
The least amount of contact resistance is found in silver.
Over 28 radioactive isotopes of silver are known.
Copper or lead is used to extract the majority of the silver.
Since the 1500s, several nations have been engaged in silver mining.
A wire that is 8,000 feet long can be pulled from one ounce of silver.
It is possible to press one grain of silver (65 mg) into a sheet that is 150 times thinner than the typical sheet of paper.

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Difference Between Sterling Silver and Pure Silve

The actual silver content of pure silver, also referred to as fine silver, is 99.9%. Since fine silver is excessively soft, it is frequently found in combination with other metals to harden it. The purity of sterling silver is 92.5% pure silver and 7.5% additional metal. Pure silver and copper are used to make sterling silver. Despite being stronger than pure silver, sterling silver is more prone to tarnishing due to the extra alloys that have been added. read less

Know How to Check Silver Purity

Examining the markings is the simplest and most straightforward method of determining the purity of silver. You can get a general notion of the amount of silver content from markings. For instance, a metal that is advertised as being "975" silver is actually 97.5% silver. Likewise, if it is marked "Sterling.925," it will contain 92.5% silver. Here are a few phrases for silver based on purity:

Purity (% weight)	Purity Grade	Known As
99.9	999	Fine or pure silver
95.8	958	Brittania
92.5	925	Sterling silver
80	800	Jewellery silver

You can perform these few tests to check Purity of silver by yourself:

Ice Cube Test: Set an ice cube on the silver object. Pure silver melts ice faster, and fake silver does not have such property.
Ring Test: Original pure silver makes a beautiful ringing sound, and fake silver has a dull sound.
BIS Mark: The official logo of the Bureau of Indian Standards, also known as BIS, is a triangular emblem with a dot inside the triangle. If the silver jewellery or item you are purchasing does not bear the BIS mark, you are probably buying fake silver.
Jeweller’s identification mark: The jeweller's identification mark on a silver object gives higher guarantee of originality because of attached brand value and consequences.

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Gold Versus Silver

Compared to gold, silver is used in industry more. Compared to gold, which is employed in only 12% of industrial applications, silver is used in almost 50% of them. Silver is essential in modern life for various purposes, including biocides, electronics, solar panels, batteries, and many more. The relative affordability of silver and its closer ties to the market mean that people can foresee price movements and make buying and selling decisions with greater ease. Silver also fluctuates in price in line with market trends. read less

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FAQ

Where can I buy silver bars in India?＋

You can purchase silver bars from local jewellery shops and online stores selling silver. Silver bars of all purity grades can be purchased from these places based on availability.

What is hallmarking?＋

There are five main components to a silver hallmark, which is used to determine an item's origins and purity:
BIS Mark
Fineness number
Assaying and Hallmarking Centre's mark
Jeweller's identification mark
Year of marking denoted by a code letter as decided by BIS
Six grades of silver alloys, including 990, 970, 925, 900, 835, and 800, are listed in the Indian Standard on Silver Hallmarking (IS 2112: 2014). These alloys are used to make silver jewellery and other artefacts.

Why is the silver rate increasing?＋

In our country, silver is in high demand and its supply declines as demand increases, making it rarer. The electrification of vehicles, the development of 5G technology, and the dedication to green infrastructure will all likely increase demand for silver in the industrial sector. Additionally, it was anticipated that physical silver investment would increase by 18% in 2022.

When is the best time to buy silver?＋

The ideal period to buy Silver is in the first half of the year, preferably in the first quarter of the year itself.

Will I have to pay tax on my silver purchase?＋

There are multiple taxes to be paid on silver, including 1% VAT, 3%GST. You also have to pay Wealth tax if the value of silver is above 5 Lakh rupees. Taxes may vary depending on the region.

What are the advantages of buying silver coins from a bank?＋

Available in lower quantity
Higher purity grade assurance
Readily available
Easy to store and transfer
Presented in a very artistic form, good for gifting.

Do banks levy any charge, in case I purchase silver from them?＋

Yes. Banks typically charge higher rates compared to jewellers, this is on account of purity checks and assurance provided by them. Taxes on the purchase are to be paid extra.

What are the benefits of investing in silver?＋

Silver is a physical asset with many uses and high demand in industry.
When compared to other investment options, silver is affordable.
Silver is a secure investment with a prominent presence in jewellery.

Is investing in silver stocks a better idea than investing in the metal?＋

Even though stocks and ETFs are more liquid than physical silver, owning them is simpler and less expensive. Additionally, you won't have to worry about storage, despite the fact that it increases the risk of a third party dependency fault.