The complete guide to silver prices in India, including information on imports, hallmarking, and investment Similar to gold, silver is one of the most popular and widely bought investment products in India. It is crucial to be aware of the current silver rate and to monitor market conditions prior to making any silver investments. Here’s what you should know if you intend to invest in silver.
SILVER RATE (TODAY & YESTERDAY)
| Gram | Today | Yesterday | Price Change |
|---|---|---|---|
| 1 Gram | ₹ 78 | ₹ 78 | ₹ 1 |
| 10 Gram | ₹ 780 | ₹ 775 | ₹ 5 |
| 100 Gram | ₹ 7,800 | ₹ 7,750 | ₹ 50 |
ELEMENTS THAT AFFECT INDIA’S SILVER PRICES
Similar to the price of gold, the price of silver in India is influenced by a variety of factors, including demand, changes in the global market, political developments, and governmental regulations.
Demand: Precious metals like gold and silver are in high demand during the holiday and wedding seasons, which has a big impact on their prices.
Silver prices typically rise in response to declines in the price of oil and the US dollar.
SILVER PRICE IN INDIAN CITIESAs of Oct 26, 2023
| City Name | Standard Silver RateChange from the previous day | |
|---|---|---|
| 1 Gram | 8 Grams | |
| Agra | ₹ 78 | ₹ 624 |
| Ahmedabad | ₹ 78 | ₹ 624 |
| Bangalore | ₹ 78 | ₹ 624 |
| Bhilai | ₹ 78 | ₹ 624 |
| Bhopal | ₹ 78 | ₹ 624 |
| Bhubaneswar | ₹ 78 | ₹ 624 |
| Chandigarh | ₹ 78 | ₹ 624 |
| Chennai | ₹ 78 | ₹ 624 |
| Coimbatore | ₹ 78 | ₹ 624 |
| Dehradun | ₹ 78 | ₹ 624 |
| Faridabad | ₹ 78 | ₹ 624 |
| Ghaziabad | ₹ 78 | ₹ 624 |
| Guntur | ₹ 78 | ₹ 624 |
| Gurgaon | ₹ 78 | ₹ 624 |
| Guwahati | ₹ 78 | ₹ 624 |
| Hyderabad | ₹ 78 | ₹ 624 |
| Indore | ₹ 78 | ₹ 624 |
| Jabalpur | ₹ 78 | ₹ 624 |
| Jaipur | ₹ 78 | ₹ 624 |
| Jodhpur | ₹ 78 | ₹ 624 |
| Kanpur | ₹ 78 | ₹ 624 |
| Kolkata | ₹ 78 | ₹ 624 |
| Kota | ₹ 78 | ₹ 624 |
| Kozhikode | ₹ 78 | ₹ 624 |
| Lucknow | ₹ 78 | ₹ 624 |
| Ludhiana | ₹ 78 | ₹ 624 |
| Madurai | ₹ 78 | ₹ 624 |
| Mumbai | ₹ 78 | ₹ 624 |
| Mysore | ₹ 78 | ₹ 624 |
| Nagpur | ₹ 78 | ₹ 624 |
| Noida | ₹ 78 | ₹ 624 |
| Panaji | ₹ 78 | ₹ 624 |
| Patna | ₹ 78 | ₹ 624 |
| Pune | ₹ 78 | ₹ 624 |
| Raipur | ₹ 78 | ₹ 624 |
| Ranchi | ₹ 78 | ₹ 624 |
| Shimla | ₹ 78 | ₹ 624 |
| Surat | ₹ 78 | ₹ 624 |
| Thrissur | ₹ 78 | ₹ 624 |
| Udaipur | ₹ 78 | ₹ 624 |
| Vadodara | ₹ 78 | ₹ 624 |
| Vijayawada | ₹ 78 | ₹ 624 |
| Visakhapatnam | ₹ 78 | ₹ 624 |
| Warangal | ₹ 78 | ₹ 624 |
| Assam | ₹ 78 | ₹ 624 |
| Haryana | ₹ 78 | ₹ 624 |
| Jammu and kashmir | ₹ 78 | ₹ 624 |
| Rajasthan | ₹ 78 | ₹ 624 |
| Telangana | ₹ 78 | ₹ 624 |
| Jammu and Kashmir | ₹ 78 | ₹ 624 |
| West Bengal | ₹ 78 | ₹ 624 |
| Bihar | ₹ 78 | ₹ 624 |
| Gujarat | ₹ 78 | ₹ 624 |
| Maharashtra | ₹ 78 | ₹ 624 |
| Kerala | ₹ 78 | ₹ 624 |
| Karnataka | ₹ 78 | ₹ 624 |
| Punjab | ₹ 78 | ₹ 624 |
| Odisha | ₹ 78 | ₹ 624 |
| Uttar Pradesh | ₹ 78 | ₹ 624 |
| Chhattisgarh | ₹ 78 | ₹ 624 |
| Jharkhand | ₹ 78 | ₹ 624 |
| Madhya Pradesh | ₹ 78 | ₹ 624 |
| Tamil Nadu | ₹ 78 | ₹ 624 |
| Uttarakhand | ₹ 78 | ₹ 624 |
| Himachal Pradesh | ₹ 78 | ₹ 624 |
| Goa | ₹ 78 | ₹ 624 |
| Delhi | ₹ 78 | ₹ 624 |
AREA TO CONSIDER WHEN Purchasing Silver
Silver rates: Silver rates fluctuate frequently based on the prices of the global market. For this reason, it’s critical to monitor silver prices in order to purchase them at the best value.
Making charges: Jewelers have the right to charge for making silver jewelry or cutlery, just like they do for gold. It is crucial to inquire directly about the applied charges to the jewelers as a result.
Sellers: Before buying silver, consumers should investigate the sellers to make sure they are getting authentic goods with confirmed purity. This will help them obtain the best silver resale value in addition to giving them high-quality silver.
Certification: It’s crucial to confirm the jewelry’s or other items’ certification before purchasing any silver.
Is buying silver a wise or foolish investment?
Even though silver is much less expensive than gold in India, it is still a secure investment. Based on current market prices, you can get better returns by reselling silver jewelry, cutlery, coins, or bars.
WAYS TO MAKE SILVER INVESTMENTS?
In India, there are several options available for silver investments. There are numerous options available, ranging from investing in the Commodity Futures Exchange to buying silver coins, bars, and jewelry. In a similar vein, seasoned investors choose to invest in the Commodity Futures Exchange while monitoring the market.
