Silver rate in India

As of 29 Jul 2026, 11:47 am, the indicative reference rate is approximately ₹235 per gram (see price hero and tables above for purity-wise breakdown). Rates can change during the trading day; always confirm with your seller before buying.

Compare gold rates and platinum rates or use the savings calculators for FD, RD and PPF.

Silver prices follow international spot silver in US dollars, converted via USD/INR, plus import costs and domestic margins. Unlike gold, India does not have a single statutory benchmark like IBJA for every city; jewellers and bullion dealers reference exchange-linked spot and local wholesale quotes.

Nelstack does not publish official IBJA or MCX settlement prices. We show indicative retail reference rates aggregated from major jeweller chains and similar market sources. Local shop prices may differ based on product form (bar, coin, jewellery) and making charges.

Retail silver is often sold at 999 fineness (99.9% pure) for bars and coins, while utensils and ornamental silver may use lower alloys. The spot price table above shows per-gram rates for the reference fineness quoted by our sources.

BIS hallmarking is available for silver articles. Confirm weight and fineness on the invoice.

• Industrial demand — silver is used in electronics, solar panels and medical applications.
• USD/INR and global macro sentiment affecting commodities broadly.
• Import duty changes and rupee liquidity conditions.
• Festive and gifting demand in India, especially during Diwali.
• Gold-to-silver ratio shifts that influence relative investor interest.

• Physical silver — bars, coins or utensils; involves storage and making charges on articles.
• Silver ETFs — SEBI-regulated exchange-traded funds holding physical silver.
• Commodity futures on MCX — for traders; not physical delivery for most retail participants.
• Digital silver platforms — check custody, spreads and regulatory disclosures.

Tax treatment (GST, capital gains, TCS where applicable) depends on product type and holding period. Refer to the Income Tax Department and GST Council notifications for current rules.

Silver is more volatile than gold and often moves with industrial cycles as well as investment flows. Rupee silver has seen multi-year rallies followed by sharp pullbacks when global growth slows. Use the chart and history on this page for recent trends only.