Whoever said wishes don’t come true hasn’t explored our offers!
  • Silver Rate Today

    Silver Price In Indian Cities
    City Silver (1 gram) Bar Silver (1 Kg)
    AGRA ₹ 41.98 ₹ 41,980
    AHMEDABAD ₹ 41.98 ₹ 41,980
    ALIGARH ₹ 41.98 ₹ 41,980
    ALLAHABAD ₹ 41.98 ₹ 41,980
    AMBALA ₹ 41.98 ₹ 41,980
    AMRAVATI ₹ 41.98 ₹ 41,980
    AURANGABAD ₹ 41.98 ₹ 41,980
    BANGALORE ₹ 41.9 ₹ 41,900
    BAREILLY ₹ 41.98 ₹ 41,980
    BELGAUM ₹ 41.9 ₹ 41,900
    BELLARY ₹ 41.9 ₹ 41,900
    BHILAI ₹ 41.98 ₹ 41,980
    BHOPAL ₹ 41.98 ₹ 41,980
    BHUBANESHWAR ₹ 41.98 ₹ 41,980
    CHANDIGARH ₹ 41.98 ₹ 41,980
    CHENNAI ₹ 41.98 ₹ 41,980
    COIMBATORE ₹ 41.98 ₹ 41,980
    CUTTACK ₹ 41.98 ₹ 41,980
    DEHRADUN ₹ 41.98 ₹ 41,980
    DELHI ₹ 41.98 ₹ 41,980
    DINDIGUL ₹ 41.98 ₹ 41,980
    ERODE ₹ 41.98 ₹ 41,980
    FARIDABAD ₹ 41.98 ₹ 41,980
    GHAZIABAD ₹ 41.98 ₹ 41,980
    GULBARGA ₹ 41.9 ₹ 41,900
    GUNTUR ₹ 41.98 ₹ 41,980
    GURGAON ₹ 41.98 ₹ 41,980
    GUWAHATI ₹ 41.98 ₹ 41,980
    HALDWANI ₹ 41.98 ₹ 41,980
    HISAR ₹ 41.98 ₹ 41,980
    HOSUR ₹ 41.98 ₹ 41,980
    HYDERABAD ₹ 41.98 ₹ 41,980
    INDORE ₹ 41.98 ₹ 41,980
    JABALPUR ₹ 41.98 ₹ 41,980
    JAIPUR ₹ 41.98 ₹ 41,980
    JALGAON ₹ 41.98 ₹ 41,980
    JAMMU ₹ 41.98 ₹ 41,980
    JAMNAGAR ₹ 41.98 ₹ 41,980
    JAMSHEDPUR ₹ 41.98 ₹ 41,980
    JODHPUR ₹ 41.98 ₹ 41,980
    KAKINADA ₹ 41.98 ₹ 41,980
    KANNUR ₹ 41.9 ₹ 41,900
    KANPUR ₹ 41.98 ₹ 41,980
    KARNAL ₹ 41.98 ₹ 41,980
    KARUR ₹ 41.98 ₹ 41,980
    KOCHI ₹ 41.9 ₹ 41,900
    KOLHAPUR ₹ 41.98 ₹ 41,980
    KOLKATA ₹ 41.98 ₹ 41,980
    KOTA ₹ 41.98 ₹ 41,980
    KOZHIKODE ₹ 41.9 ₹ 41,900
    KURNOOL ₹ 41.98 ₹ 41,980
    LUCKNOW ₹ 41.98 ₹ 41,980
    LUDHIANA ₹ 41.98 ₹ 41,980
    MADURAI ₹ 41.98 ₹ 41,980
    MALAPPURAM ₹ 41.9 ₹ 41,900
    MANGALORE ₹ 41.9 ₹ 41,900
    MEERUT ₹ 41.98 ₹ 41,980
    MUMBAI ₹ 41.98 ₹ 41,980
    MYSORE ₹ 41.9 ₹ 41,900
    NAGERCOIL ₹ 41.98 ₹ 41,980
    NAGPUR ₹ 41.98 ₹ 41,980
    NANDED ₹ 41.98 ₹ 41,980
    NASIK ₹ 41.98 ₹ 41,980
    NELLORE ₹ 41.98 ₹ 41,980
    NOIDA ₹ 41.98 ₹ 41,980
    PANAJI ₹ 41.9 ₹ 41,900
    PATNA ₹ 41.98 ₹ 41,980
    PONDICHERRY ₹ 41.98 ₹ 41,980
    PRODDATUR ₹ 41.98 ₹ 41,980
    PUNE ₹ 41.98 ₹ 41,980
    RAIPUR ₹ 41.98 ₹ 41,980
    RAJAHMUNDRY ₹ 41.98 ₹ 41,980
    RAJKOT ₹ 41.98 ₹ 41,980
    RANCHI ₹ 41.98 ₹ 41,980
    RATLAM ₹ 41.98 ₹ 41,980
    SALEM ₹ 41.98 ₹ 41,980
    SANGLI ₹ 41.98 ₹ 41,980
    SHIMLA ₹ 41.98 ₹ 41,980
    SHIMOGA ₹ 41.9 ₹ 41,900
    SILIGURI ₹ 41.98 ₹ 41,980
    SOLAPUR ₹ 41.98 ₹ 41,980
    SRINAGAR ₹ 41.98 ₹ 41,980
    SURAT ₹ 41.98 ₹ 41,980
    THANE ₹ 41.98 ₹ 41,980
    THANJAVUR ₹ 41.98 ₹ 41,980
    THIRUVANANTHAPURAM ₹ 41.9 ₹ 41,900
    THRISSUR ₹ 41.9 ₹ 41,900
    TIRUCHIRAPALLI ₹ 41.98 ₹ 41,980
    TIRUNELVELI ₹ 41.98 ₹ 41,980
    TUTICORIN ₹ 41.98 ₹ 41,980
    UDAIPUR ₹ 41.98 ₹ 41,980
    UDUPI ₹ 41.9 ₹ 41,900
    VADODARA ₹ 41.98 ₹ 41,980
    VARANASI ₹ 41.98 ₹ 41,980
    VELLORE ₹ 41.98 ₹ 41,980
    VIJAYAWADA ₹ 41.98 ₹ 41,980
    VISAKHAPATNAM ₹ 41.98 ₹ 41,980
    WARANGAL ₹ 41.98 ₹ 41,980

    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Silver Rate in India

    Silver is among the most traded commodities in the world. India is no exception and silver, along with gold, forms about 10% of all commodities imports to the country. Silver rates in India are directly affected by the global demand and supply scenario of the commodity. Since the 80’s, the demand for silver has outpaced its supply, with industrial demand accounting for more than half the total consumption. More than 80% of total silver production in the world is as by product of other commodities. Exclusive silver mining accounts for only 20% of the global production.

    Comparison for 1 gram Silver Rates February '17

    Trend of Silver Rate in India for April 2017 (rates per kilogram)

    April 2017 - Week 1 (1st-9th)

    • Silver prices during the first week of April were on the increase throughout the week due to heightened demand with minor fluctuations. Silver traded at Rs.42,570 per kg on the 1st of April and stayed steady at this rate until the end of the next day as well.
    • However this demand could not be sustained and the rate of silver fell marginally the next day to trade at Rs.42,435 per kg.
    • Rate of silver increased slightly the next day to trade at Rs.42,730 per kg on the 4th of April.
    • The next day, rate of silver rose marginally to trade at Rs.42,775 per kg due to a fall in the rate of the U.S. Dollar.
    • As the week progressed, the rate of silver continued to improve with this metal trading at Rs.42,640 per kg on the last two days of the month.

    April 2017 - Week 2 (10th-16th)

    • Like that of gold, silver price in India seemed to be on the increase over the second week of April, owing to industrial demand.
    • On 10th, silver rate in India was at Rs.41,600 per kg which fell briefly on 11th to hit Rs.41,200 per gram as demand took a hit.
    • However, the fall was compensated by a higher demand on 12th from industrialists and coin makers, which brought prices up to Rs.42,500 per kg - an increase of Rs.1,300 per kg.
    • After that sudden surge in demand, silver prices went up marginally for the metal to trade at Rs.42,600 per kg.
    • Prices went up again on the 14th to reach Rs.42,800 per kg as demand seemed to increase from various sections of the society.
    • The 15th saw prices go up marginally by Rs.100 to hit Rs.42,900, which held on till the end of the week on the 16th.

    Trend of Silver Rate in India for March 2017 (rates per kilogram)

    March 1st Rate Rs.44,195 per kg
    March 31st Rate Rs.42,115 per kg
    Highest Rate in March Rs.44,195 per kg on 1st March
    Lowest Rate in March Rs.40,040 per kg on 15th March
    Overall Performance Decline
    Percentage Change -4.70%

    March 2017 - Week 1 (1st - 4th):

    • SIlver prices saw quite a few changes over the four-day period of March week 1.
    • On 1st March, silver was trading at Rs.44,195 per kg and increased by Rs.5 to trade at Rs.44,200 per kg on 2nd.
    • Rates fell by Rs.1,530 per kg on 3rd for the metal to trade at Rs.42,570 per kg.
    • When the week ended on 4th, silver prices had picked up by Rs.725 to trade at Rs.43,295 per kg.

    March 2017 - Week 2 (5th - 11th):

    • Silver rates in India seemed to follow a downhill path for the second week of March.
    • The week began with silver trading at Rs.43,300 per kg and went down to Rs.42,800 per kg on the 6th.
    • Rates on 7th remained the same as it was on 6th but went to Rs.42,100 per gram on 8th.
    • The last three days of March week 2 didn’t offer any respite either as rates further went down to Rs.41,500.
    • When the week ended, silver was trading at Rs.41,200 per gram.

    March 2017 - Week 3 (12th-18th):

    • Silver prices during the third week of March were on the increase throughout the week due to heightened demand.
    • However this demand could not be sustained and the rate of silver fell marginally the next day to trade at Rs.40,440 per kg.
    • Rate of silver continues to decline due to a fall in demand from both international and domestic markets. Rate of silver was Rs.40,040 per kg on the 15th of March.
    • The next day, rate of silver recovered marginally to trade at Rs.40,890 per kg due to a fall in the rate of the U.S. Dollar.
    • As the week progressed, the rate of silver continued to improve with this metal trading at Rs.40,815 per kg on the last three days of the month.

    March 2017 - Week 4 (19th-25th):

    • Silver rates in India fluctuated considerably during the fourth week of March.
    • On 20th, silver was trading at Rs.41,030 per kg but went down on 21st to Rs.40,890 as industrial demand decreased.
    • As demand picked up on 21st, silver prices went up to Rs.41,340 per kg and went up again to Rs.41,435 per kg on 22nd.
    • Rates remained the same on 23rd, but went down slightly on 24th to Rs.41,340 per kg.
    • On the last day of week 4, silver was still trading at Rs.41,340 per kg.

    March 2017- Week 5 (26th-31st):

    • Silver prices in India saw some ups and downs over the course of the week.
    • On 27th, silver was trading at Rs.41,980 per kg and went up by Rs.290 to hit Rs.42,270 per kg on 28th March.
    • Rates remained unchanged on 29th before increasing again to Rs.42.435 per kg on the 30th.
    • On the last day of the March, silver prices declined by Rs.320 to hit Rs.41,115 per kg.
    February 1st  Rate Rs.42,520 per kg
    February 28th  Rate Rs.44,165 per kg
    Highest Rate in February Rs.44,165 per kg on 28th February
    Lowest Rate in February Rs.42,115 per kg on 3rd February
    Overall Performance Incline
    Percentage Change +3.86%

    February 2017 - Week 1 (1st-4th):

    • Unlike gold prices, silver rates bore witness to a different valuation for every day of February week 1.
    • On 1st, silver was trading at Rs.42,755 per kilogram which later increased to Rs.42,835 per kilogram on 2nd.
    • The 3rd, however, saw prices decline considerably to Rs.42,080 courtesy of a strengthening market.
    • Silver prices recovered on 4th to end the business week at a rate of Rs.42,355 per kilogram.

    February 2017 - Week 2 (5th-11th)

    • The price of silver increased during the second week of February, though the increases were modest compared to gold.
    • Silver traded at Rs.42,355 per kg on 5th February, as demand from coin makers as well as industry began to increase.
    • Silver was priced at Rs.42,520 per kg on 6th February, an increase of Rs.165 per kg as domestic demand also rose, reflecting international trends.
    • Demand from the Asian markets rose as the U.S. Dollar fell heavily, trading at Rs.42,930 per kg on 7th February on fears of repercussions due to the travel ban.
    • Prices continued to rise marginally, as silver touched Rs.42,950 per kg on 9th February on sustained demand from overseas as well as industry.
    • A sharp dip in price was recorded on 10th February, as silver traded at Rs.42,375 per kg.
    • Silver prices recovered marginally, trading at Rs.42,570 per kg on 11th February to record an increase of Rs.215 per kg over the week.

    February 2017 - Week 3 (12th-18th)

    • Silver prices during the third week of February were on the increase throughout the week due to heightened demand.
    • Silver traded at Rs.42,570 per kg on 12th February as demand from coin makers as well industry was high.
    • Prices rose to Rs.43,280 per kg on 13th February as local demand also rose, though prices dipped the following day as the price fell by Rs.150 to trade at Rs.43,030 per kg.
    • A weakening of the U.S. Dollar led silver to trade higher in the subsequent days, as silver recorded a price of Rs.43,155 per kg on 15th February.
    • Prices rose to Rs.43,385 per kg on 16th February and rose to Rs.43,520 per kg on 17th February on favourable market conditions.
    • The end of the week saw silver trade at Rs.43,400 per kg on 18th February, recording an increase of Rs.830 per kg over the week.

    February 2017 - Weeks 4 & 5 (19th-28th)

    • Silver prices were volatile due to frequent fluctuations in demand due to market variations.
    • Silver was priced at Rs.43,400 per kg on 19th February, falling to Rs.43,270 per kg on 20th February.
    • Prices fell further to Rs.43,240 per kg on 22nd February before demand increased and prices rose to Rs.43,295 per kg on 23rd February.
    • Silver traded at Rs.43,680 per kg on 24th February, rising to Rs.43,910 per kg on 25th February on strong demand.
    • Silver reached Rs.44,110 per kg on 27th February before closing the month at Rs.44,165 per kg on 28th February.
    January 1st Rate Rs.39,035 per kg
    January 31st Rate Rs.41,980 per kg
    Highest Rate in January Rs.42,180 per kg on 23rd January
    Lowest Rate in January Rs.39,035 per kg on 1st January
    Overall Performance Incline
    Percentage Change +7.54%
    Comparison for 1 gram Silver Rates December '16

    January 2017 - Week 1 (1st to 7th)

    • Like with gold, silver too saw prices increase during the beginning of the week. However, as new year celebrations ended, prices began to go down during the later part of the week.
    • The week began with silver trading at Rs.39,035 per kilogram and increased slightly on the 2nd to trade at Rs.39,110.
    • On 3rd, prices increased again to trade at Rs.39,355 per gram.
    • The 4th saw prices increase significantly by nearly Rs.1,000 per kilogram to trade at Rs.40,340.
    • Business day on the 5th again saw silver prices increase to Rs.40,520 before rates climbed down for the last two days of the week.
    • On the 6th and 7th, silver prices were down to Rs.40,440 and Rs.44,390 per kilogram.

    January 2017 - Week 2 (8th to 15th)

    • Silver prices also saw increases in price as demand for bullion was high and unstable markets led consumers to invest in silver.
    • Silver was priced at Rs.40,390 per kg on 8th January, with the price rising to Rs.30,520 per kg on 9th January as industrial demand rose marginally.
    • Demand from coin makers led to prices rising to Rs.40,815 per kg on 10th January.
    • Prices rose by Rs.480 per kg to trade at Rs.41,295 per kg on 11th January.
    • Prices dipped to Rs.41,265 per kg on 12th January before falling further to Rs.41,030 per kg on 13th January as demand for silver fell.
    • Prices recovered as the week ended, with silver trading at Rs.41,230 per kg on 14th and 15th January to record an overall increase in price of Rs.830 per kg for the week.

    January 2017 - Week 3 (15th to 21st)

    • Except for a few blips, silver rates ended on a positive note during the third week of January.
    • The week began with silver trading at Rs.41,230 per kilogram, which spiked up to Rs.41,340 on the subsequent day.
    • Prices increased again on the 17th to hit Rs.41,625 and went up further more on the 18th to trade at Rs.41,895.
    • On 19th, however, prices went down a little bit for silver to trade at Rs.41,675 per kilogram which carried on till the end of 20th.
    • The week ended on a high on the 21st as silver prices had increased to Rs.41,930 per kilogram.

    January 2017- Weeks 4 & 5 (22nd to 31st)

    • There were marginal changes in the price of silver during the week.
    • Silver traded at Rs.41,930 per kg on 22nd January on increased demand from the industrial sector and coin makers.
    • Prices rose to a monthly high of Rs.42,180 per kg on 23rd January but fell to Rs.42,130 per kg the next day.
    • Decreasing demand led to a further drop in price, as silver traded at Rs.41,835 per kg on 25th January as U.S. markets strengthened.
    • Silver ended the week trading at Rs.41,980 per kg on 31st January.
    December 1st  Rate Rs.40,450 per kg
    December 31st Rate Rs.39,035 per kg
    Highest Rate in December Rs.41,630 per kg on 8th December
    Lowest Rate in December Rs.38,700 per kg on 23rd December
    Overall Performance Decline
    Percentage Change -3.49%
    Comparison for 1 gram Silver Rates for India November '16

    December 2016 - Week 1 (1st to 4th)

    • Bucking the trend of demonetization, silver prices in India seems to maintain its rate over the course of the week.
    • As Rs.500 and Rs.1,000 notes were nullified, silver sales too went down as compared to the closing week of November.
    • Due to there being a lack of any catalytic event no major fluctuation in silver sales were found.

    December 2016 - Week 2 (5th to 11th)

    • At the beginning of the week on December 5th, silver began to trade at Rs.40,650 per kg and remained the same for the subsequent day on December 6th.
    • On December 7th, silver prices increased by about Rs.345 per kg as the metal went on to sell at Rs.40,995 per kg.
    • There was again an increase of Rs.500 per kg on the 8th of December as silver traded at Rs.41,495 per kg.
    • On December 9th though, prices fell by Rs.150 and stood at Rs.41,345 per kg, which held on till the end of the week on December 11th.

    December 2016 - Week 3 (12th to 18th)

    • Silver prices in the country saw rapid ups and downs over the third week of December.
    • When the week began on the 12th, silver was seen trading at Rs.40,880 per kilogram.
    • The 13th saw prices climb significantly to hit Rs.41,340 per kilogram which remained the case with the 14th as well.
    • The 15th witnessed silver prices go down to Rs.800 per kg, as the metal traded at Rs.40,415 per kilogram.
    • On the 16th of December, silver priced decreased massively by Rs.1,200 to hit Rs.39,120 per kilogram.
    • The last two days of the week came as a respite for silver prices as they increased slightly to trade at Rs.39,305 per kilogram.
    • At the end of the week on the 18th, silver traded at Rs.39,305 per kilogram.

    December 2016 - Week 4 (19th to 25th)

    • Silver rates in India during the fourth week only saw minor fluctuations.
    • The week began on the 19th with the metal trading at Rs.39,500 per kilogram and decreased to hit Rs.39,200 per kilogram.
    • On the 21st, silver prices bounced back to trade at Rs.39,500 per kilogram.
    • The 22nd saw prices decrease to Rs.39,000 per kilogram and the days went on till the end of the week without any changes.

    December 2016 - Week 5 (26th to 31st)

    • There were minor changes in the silver rate during the week.
    • Silver was priced at Rs.38,460 per kilogram on 26th December, with the price rising to Rs.28,690 per kilogram on 27th December.
    • Prices continued to rise marginally as the week progressed, with silver trading at Rs.39,345 per kilogram on 28th December.
    • Prices rose to Rs.39,680 per kilogram on 29th December before a drop in demand led to prices falling to Rs.39,630 per kilogram on 30th December.
    • Demand continued to fall, with silver trading at Rs,39,035 per kilogram on 31st December.
    1st November rate Rs.42,910 per kilogram
    30th November rate Rs.41,065 per kilogram
    Highest rate in November Rs.44,960 per kilogram on 9th November
    Lowest rate in November Rs.40,190 per kilogram on 25th November
    Overall performance Decline
    % Change -4.29%
    Comparison for 1 gram Silver Rates for India October '16

    November '16 - Week 1 (1st to 6th)

    • There was high demand for silver this week from industrialists and coin makers.
    • The wedding season also gave demand a boost in the domestic market.
    • Trends in the global market gave silver support as the dollar weakened.
    • Speculative activity also resulted in a spurt in silver rates.

    November '16 - Week 2 (7th to 13th)

    • Global trends firmed up this week leading to a rise in silver prices.
    • The shock of Donald Trump’s election led to the dollar losing strength.
    • In the domestic market, PM Modi’s strike on black money led to buyers either being reluctant or unable to purchase silver.
    • There was an increase in the offtake by industrialists and coin makers this week that led to an overall increase in silver prices.

    November '16 - Week 3 (14th to 20th)

    • Global trends worked in favour of silver as the dollar retreated from its 14-year high this week.
    • Uncertainty surrounding the U.S. economic policies under Donald Trump’s presidency led to a favourable market for silver.
    • Despite favourable market trends, silver edged lowered to four-year lows.
    • Physical demand for the metal was weakened by dull consumer sentiments.
    • In the domestic market, PM Modi’s strike on black money took a toll on the economy and created a shortage of cash.
    • There was a drastic halt in footfall in jewellery shops and showrooms.
    • Prices are expected to pick up once the economy stabilises.

    November '16 - Week 4 and 5 (21st to 30th)

    • Cash shortage across the country resulted in demand for silver dropping drastically this week.
    • Demonetisation has taken its toll on the Indian economy and has hit the silver and gold business.
    • The dollar climbed after the U.S. released positive economic data.
    • A strong dollar has favoured the U.S. Federal Reserve’s move to raise interest rates in December.
    • Silver was able to recover towards the end of the week as demand picked up.
    1st October rate Rs.45,900 per kilogram
    31st October rate Rs.43,035 per kilogram
    Highest rate in October Rs.45,900 per kilogram on 1st and 2nd October
    Lowest rate in October Rs.41,685 per gram on 7th October
    Overall performance Decline
    % Change -6.24%

    October '16 - Week 1 (1st to 7th)

    • Silver rates dropped this week as global trends resulted in a bearish market.
    • Growing talk of an interest rate hike by the U.S. Federal Reserve created a reluctant atmosphere in the global markets.
    • High demand was expected in the domestic market, but this was not the case.
    • Jewellers and retailers are pinning their hopes on demand picking up during Navaratri and Dhanteras.

    October '16 - Week 2 (8th to 14th)

    • Demand for silver picked up this week as trends in the global market were positive.
    • The U.S. Federal Reserve is uncertain of a rate hike till December, but the topic is up for discussion in November.
    • With bullish tendencies rocking the market, demand for silver got a boost.
    • Towards the end of the week, the overseas market turned gloomy in light of global and financial risks which made investors turn away.
    • Silver rates dropped as industrialists and coin makers reduced their offtake.

    October '16 - Week 3 (15th to 21st)

    • Demand for silver picked up this week.
    • Expectations of the Fed rate hike increased on 17th October leading to a fall in prices.
    • Silver prices recovered on the back of increased industrial offtake and increased domestic demand as the wedding season blossomed.
    • Global trends picked up as the market turned positive.
    • Demand for silver is expected to remain high in the domestic market.

    October '16 - Week 4 (22nd to 28th) & Week 5 (29th to 31st)

    • Increased industrial offtake by coin makers and industrial units gave silver prices a boost.
    • A weakened dollar led to positive sentiments towards gold in the global market.
    • Demand in the domestic market was driven by the festive season.
    • With the wedding season blooming in the country, demand for silver is expected to remain high.
    1st September rate Rs.45,225 per kilogram
    30th September rate Rs.45,750 per kilogram
    Highest rate in September Rs.47,820 per kilogram on 7th September
    Lowest rate in September Rs.45,600 per gram on 28th September
    Overall performance Increase
    % Change 1.16%

    September '16 - Week 1 and 2 (1st to 10th)

    • Silver prices climbed through the beginning of September.
    • Prices were affected by positive global trends on account of weak U.S. economic data.
    • Gold and silver was seen on a path of inclination as investors flocked to these metals.

    September '16 - Week 3 (11th to 17th)

    • Silver rates were impacted on account of hawkish comments from the Federal Reserve that raised the expectations of an interest rate hike this month.
    • Demand for silver dropped in the domestic and overseas markets.
    • Savvy traders played it smart and took to the sidelines as the prices plunged.
    • More volatility with silver prices is expected in the near future.

    September '16 - Week 4 (18th to 24th)

    • Silver prices climbed this week as the pressure of an interest rate hike by the U.S. Federal Reserve eased up.
    • Strong offtake by industrialists also gave silver rates a good boost.
    • Speculative demand was high amid a positive global and domestic market.
    • The trend for this week was an increase in silver rates.

    September '16 - Week 5 (25th to 30th)

    • Reduced industrial support led to a drop in silver prices this week.
    • There was also a fall in the offtake by industrialists and coin makers in the domestic market.
    • In the global market, the dollar gained strength which affected the demand for silver.
    1st July rate Rs.49,430 per kilogram
    31st July rate Rs.45,460 per kilogram
    Highest rate in July Rs.49,670 per kilogram on 1st August
    Lowest rate in July Rs.44,805 per kilogram on 29th August
    Overall performance Decline
    % Change -8.03%
    Comparison for (1 gram) Silver Rates for India July'16

    August '16 - Week 1 (1st to 7th)

    • The price of silver steadily declined as demand was muted in spite of a weak Dollar and fluctuating equity markets.
    • Silver prices rose marginally due to a sustained drop in equity markets the previous week.
    • The resurgence in the stock market due to positive economic data led to demand shrinking and overseas demand also fell.

    August '16 - Week 2 (8th-14th)

    • As gold prices rose, silver also followed suit.
    • Silver prices rose as domestic demand increased. Prices touched Rs.48,750 on 10th August.
    • There was also an increase in the offtake by industrialists and coin makers giving silver prices a strong backing.

    August '16 - Week 3 (15th-21st)

    • The prices of silver experienced a downturn through the week.
    • Reduced offtake by industrialists led to the prices declining.
    • With the dollar gaining strength, the U.S. economy is strong enough to go through with the Federal Reserve interest rate hike.
    • Overall, silver rates did not rapidly decline but managed to hold quite steady through the week.

    August '16 - Week 4 (22nd-28th)

    • The U.S. dollar has gained strength as the economy brightens up. This has led to a fall in prices of silver in the global market.
    • However, increased offtake from industrialists, jewellers and coin makers in the domestic market have kept prices stable.
    • Prices for silver are expected to rise as experts foresee better demand in the second half of 2016.

    August '16 - Week 5 (29th-31st)

    • The U.S. Federal Reserve is confident that a rate hike is possible soon as the economy is strong enough now.
    • Silver dropped on account of a stronger dollar.
    • Sluggish demand in the domestic market as well contributed to lower prices this week.
    1st July rate Rs. 46,490 per kg
    31st July rate Rs. 48,970 per kg
    Highest rate in July Rs. 49,745 per kg on July 11
    Lowest rate in July Rs. 46,490 per kg on July 1
    Overall performance Rising
    % Change +7.00%
    Comparison for (1 gram) Silver Rates for India Jun'16

    July'16 - Week 1 and 2 (1st to 10th)

    • The first week of July saw silver futures streak a two-year high reaching levels that have not been experienced since July 2014.
    • Investors favoured the metal owing to economic and political concerns that indicate the current easy monetary policies from the central banks would continue in for some more time.
    • The spikes in silver rates were due to increased expectations of the central banks providing more monetary stimulus to the market in order to counteract the negative impact of the Brexit vote.
    • Silver slipped from it’s 2-year high after the U.S. released positive job data that made the dollar stronger.

    July'16 - Week 3 (11th to 17th)

    • Silver prices were not affected drastically by market forces or prevailing economic conditions as the rate was more or less constant.
    • The silver rates saw a slight decline as market demand for the metal fell slightly as the markets stabilised on the news of the Dollar strengthening.
    • The rate of silver fluctuated as the markets strengthened as equities began to stabilise after the Brexit vote plunged them into instability in late June.
    • Prices appeared to be on the decline as the week progressed, with demand falling slightly due to reduced interest from industrial units domestically.

    July '16 - Week 4 (18th to 24th)

    • As gold rates dropped significantly this week, silver also followed suit.
    • Silver was seen on a steady decline owing to a rising dollar and weaker global markets.
    • Expectations of a U.S. Federal Reserve hike have sprung back up again.
    • The impact of the Brexit vote still lingers in the market but demand seemed to stabilise by the end of the week.

    July‘16 - Week 5 (25th to 31st)

    • The value of silver stood at Rs.47,160 on the 25th of July, after which they fluctuated over the course of the next four days as marginal increases were written off by subsequent losses.
    • On the 30th of July, silver prices per kg increased to Rs.48,970 and remained unchanged for another day, thus ending the month at the aforementioned rate.
    1st June rate Rs.38,720
    30th June rate Rs.44,725
    Highest rate in June Rs.44,725 on 30th of June
    Lowest rate in June Rs.38,720 on 1st of June
    Overall performance Rise
    % Change +15.51
    Comparison for (1gram) Silver Rates for India May'16

    Jun'16 - Week 1 (1st to 5th)

    • Silver traded steadily at the beginning of June.
    • The trend for silver indicates a steady increase as the prices have been rising at a comfortable pace.
    • With the industrial offtake, demand for silver has been stable.

    Jun'16 - Week 2 (6th to 12th)

    • Silver traded at Rs. 39,690 per kg on the 6th of June.
    • Prices shot up owing to demand and silver traded at Rs. 41,590 per kg on the 10th of June which was also the highest rate for the week.

    Jun'16 - Week 3 (13th to 19th)

    • Silver traded at Rs. 41,445 per kg on the 13th of June.
    • Prices further rose up to Rs. 42,175 per kg on the 15th of June.
    • Silver closed the week at Rs. 42,235 per kg on the last day of the week.

    Jun'16 - Week 4 (20th to 26th)

    • The rate of silver was quite steady during the third week of June with a few variations here and there.
    • Prices have seen a steady increase and this could be attributed to increased demand and global trends.
    • As the week progressed, a general increase in price was seen in most centres.

    Jun'16 - Week 5 (27th to 30th)

    • Silver rates fluctuated between the 27th and 29th of June, but prices increased to a significant extent by the last day of the month.
    • Prices were recorded at Rs.43,480 on the 27th of June and Rs.44,725 on the 30th of June.
    • Between the 27th and 30th of June, prices increased by Rs.1,245 due to increase in demand amid strengthening domestic and international trends.
    1st May rate Rs. 42,590 per kg
    31st May rate Rs. 39,065 per kg
    Highest rate in May Rs. 42,675 per kg on May 2
    Lowest rate in May Rs. 39,065 per kg on May
    Overall performance Decline
    % Change -8.27%

    May'16 - Week 1 (1st to 7th)

    • Silver rates increased marginally on the 1st of May in comparison with the previous week, but prices took a tumble and kept declining as the week wore on.
    • Prices were recorded at Rs.42,590 on the 1st of May and Rs.41,875 on the 7th of May.
    • Between the 1st and 7th of May, prices fell by Rs.715 due to decline in demand.

    May ‘16 - Week 2 (8th to 14th)

    • Silver rates remained unchanged from the previous week’s levels, but prices fluctuated throughout the week, first falling then rising before falling again to close the week at a loss.
    • Prices were recorded at Rs.41,875 on the 8th of May and Rs.41,255 on the 14th of May.
    • Between the 8th and 14th of May, prices fell by Rs.620 due to decline in demand.

    May ‘16 - Week 3 (15th to 21st)

    • Silver rates remained unchanged from the previous week’s levels, but prices fluctuated throughout the week, with price inclines and declines on alternate days.
    • Prices were recorded at Rs.41,255 on the 15th of May and Rs.40,135 on the 21st of May.
    • Between the start and end of the week, prices dropped by Rs.620 due to decline in demand.

    May ‘16 - Week 4 (22nd to 28th)

    • Silver rates steadily declined this week in comparison to the rest of the month.
    • Prices were recorded at Rs. 39,100 on the 22nd of May and Rs. 40,135 on the 28th of May.
    • The decline in prices in India can be directly attributed to global market trends. The prices have now settled above Rs. 39,000 per kg of silver.

    May ‘16 - Week 5 (29th to 31st)

    • The rate of silver remained quite steady except for a few minor fluctuations here and there.
    • The price of silver reduced as the month progressed, closing at Rs. 39,065 per kg on the 31st of May.
    • On the 1st of May, gold traded at Rs. 42,590 per kg.
    1st April rate Rs 36,780
    30th April rate Rs 42,590
    Highest rate in April Rs 42,690 on 29th
    Lowest rate in April Rs 36,000 on 4th
    Overall performance Gain/Positive
    % Change + 15.8%

    Apr'16 - Weeks 1 & 2 (1st to 10th)

    • Silver prices were up in the first 10 days of trading in the national capital.
    • Rates were Rs.36,020 on 1st and Rs.36,620 on 10th.
    • Silver registered gains on the back of firming global trends, a weak dollar, and increased offtake and healthy industrial demand.

    Apr ‘16 - Week 3 (11th to 17th)

    • Silver rates appreciated in the third week of trading.
    • Rates were Rs.37,115 on 11th and Rs.39,110 on 17th.
    • Prices gained an overall value of Rs.1,995 over the course of the week.

    Apr ‘16 - Week 4 (18th to 24th)

    • Silver posted gains in this week also.
    • Prices were Rs.38,920 on 18th and Rs.41,115 on 24th.
    • Silver gained Rs.1,195 during this week’s trading.

    Apr ‘16 - Week 5 (25th to 30th)

    • Silver had a poor start to the week, as prices fell from Rs 41,155 to Rs 40,810 on 25th.
    • A steady increase in rates was witnessed through the rest of the week.
    • Prices reached a maximum of Rs 42,690 on 29th before dropping to Rs 42,590 on 30th.
    1st March rate* Rs.37,005
    31st March rate Rs.36,495
    Highest rate in March Rs.38,640 on 18th
    Lowest rate in March Rs.36,455 on 29th
    Overall performance Loss/Negative
    % Change -1.38%

    *Rates as per New Delhi rates

    Mar'16 - Week 1 (1st to 6th)

    • Silver prices rallied in the 1st week of March.
    • Prices were Rs.37,005 on 1st and Rs.36,640 on 6th.
    • Silver rose to Rs.37,710 on 2nd before settling at Rs.36,640 for the rest of the week, a cumulative drop of Rs.365 over the week.

    Mar'16 - Mar'16 - Week 2 (7th to 13th)

    • Silver prices appreciated marginally in the 2nd week.
    • Prices were Rs.37,695 on 7th and Rs.37,710 on 13th.
    • Silver rose marginally by Rs.15 on 8th and settled at that level for the rest of the week.

    Mar'16 - Week 3 (14th to 20th)

    • Silver was up again in the 3rd week.
    • Prices were Rs.37,650 on 14th and Rs.37,865 on 20th.
    • Silver prices were volatile over the week, dropping to a low of Rs.37,710 on 16th and touching a high of Rs.38,640 on 18th.

    Mar'16 - Week 4 (21st to 27th)

    • Silver rates fell in the 4th week.
    • It was priced at Rs.37,930 on 21st and Rs.36,685 on 27th.
    • Silver prices depreciated by an overall margin of Rs.1,245 over the fourth week.

    Mar'16 - Week 5 (28th to 31st)

    • Silver prices fell marginally during the last four days of the month.
    • Prices were Rs.36,570 on 28th and Rs.36,495 on 31st.

    1st February rate*Rs.34,970
    29th February rateRs.36,295
    Highest rate in FebruaryRs.38,640 on 12th
    Lowest rate in FebruaryRs.34,970 on 1st
    Overall performanceGain/Positive
    % Change+3.79%

    *Rates as per New Delhi rates

    Week 1 (1st to 7th)

    • Silver prices rallied in the 1st week of February.
    • Prices were Rs.34,970 on 1st and Rs.36,925 on 7th.
    • Silver rose on all days of the weeks, gaining an overall amount of Rs.1,955 in trading over the week.

    Week 2 (8th to 14th)

    • Silver prices appreciated again in the 2nd week.
    • Prices were Rs.36,950 on 8th and Rs.38,525 on 14th.
    • Silver rose to Rs.38,640 by 12th before sliding down marginally to Rs.38,525 by the end of the week.

    Week 3 (15th to 21th)

    • Silver registered more profits in the 3rd week.
    • Prices were Rs.37,220 on 15th and Rs.37,930 on 21st.
    • Silver continued its appreciation going into the 3rd week, rising by a margin of Rs.710.

    Week 4 (22nd to 29th)

    • Silver rates also ended the first month of 2016 on a positive note.
    • It was priced at Rs.37,615 on 22nd and Rs.36,295 on 29th.

    Silver prices declined in the last days of February, falling by Rs.320 over the course of the week.

    4thJanuary rate*


    31stJanuary rate


    Highest rate in January

    Rs.35,565 on 28th

    Lowest rate in January

    Rs.33,295 on 13th

    Overall performance


    % Change


    *Rates as per New Delhi rates

    Jan '16 - Week 1 (4th to 10th)

    • Silver prices in India started 2016 on a positive note, as seasonal demand and increased offtake by industrial units spurred rates.

    • Prices were Rs.33,230 on 4th and Rs.33,865 on 10th.

    • Silver breached the 34,000 mark to rise to a high of Rs.34,200 and ended the week at a healthy Rs.33,865.

    Jan '16 - Week 2 (11th to 17th)

    • Silver continued gaining value in the 2nd week.

    • Prices were Rs.33,750 on 11th and Rs.34,335 on 17th.

    • During this week, silver touched a monthly low of Rs.33,295 on 13th.

    Jan '16 - Week 3 (18th to 24th)

    • Silver registered more profits in the 3rd week.

    • Prices were Rs.34,115 on 18th and Rs.34,425 on 24th.

    • Silver was stable within the range of Rs.34,100 to Rs.34,600 throughout the week.

    Jan '16 - Week 4 (25th to 31st)

    • Silver rates also ended the first month of 2016 on a positive note.

    • It was priced at Rs.34,435 on 25th and Rs.34,930 on 31st.

    • During the week, silver breached the 35,000 mark and also touched a monthly high of Rs.35,565 on 28th.

    1 st December rate Rs.34,040
    31 st December rate Rs.33,405
    Highest rate in December Rs.35,050 on 5th and 6th
    Lowest rate in December Rs.33,050 on 18th
    Overall performance Loss/Negative
    % Change -1.86%
    Dec'15 - Week 1 (1stto 7th)
    • Silver Rates in India were up in the 1st week of December.
    • Rates were around Rs.34,040 on 1st and Rs.35,015 on 7th.
    • Silver had a mostly positive first week except for 3rd when prices dropped below Rs.34,000 to settle at Rs.33,660.
    • Silver breached Rs.35,000-mark for the first time this month on 5th when prices touched Rs.35,050.
    Dec'15 - Week 2 (8thto 14th)
    • Silver lost value during the 2nd week.
    • Prices were around Rs.34,415 on 8th and Rs.33,670 on 14th.
    • Silver was stable in the range of Rs.33,915 to Rs.34,415 till 13th before prices dropped by Rs.340 on 14th to rest at Rs.33,670.
    Dec'15 - Week 3 (15thto 21st)
    • Silver Rates were stable overall in the 3rd week.
    • Silver was priced at Rs.33,230 on 15th and Rs.33,900 on 21st.
    • Silver had a stable 3rd week except for 18th and 19th when prices fluctuated by Rs.800 to end at the same level on 19th.
    Dec'15 - Week 4 and Week 5 (22ndto 28th, 29thto 31st)
    • Silver Rates depreciated marginally in the last weeks of December.
    • Rates were Rs.34,020 on 22nd and Rs.33,405 on 31st.
    • Prices stayed a little over Rs.34,000 till 28th before dropping substantially by Rs.785 on 29th to settle at Rs.33,490.
    • There was slight fluctuations in the next two days as silver ended the month and year at Rs.33,405.
    1stNovember rate Rs.32,500
    30thNovember rate Rs.30,100
    Highest rate in November Rs.32,500 on 1st
    Lowest rate in November Rs.30,000 on 19th and 20th
    Overall performance Loss/Negative
    % Change -7.38%
    Nov '15 - Week 1 (1st to 7th)
    • Silver Rates in India depreciated in the 1st week of November.
    • Prices were around Rs.32,500 on 1st and Rs.30,750 on 7th.
    • Prices dropped throughout the week without trading in the positive for any day.
    Nov '15 - Week 2 (8th to 14th)
    • Silver dropped again in the 2nd week.
    • Prices were around Rs.32,500 on 8th and Rs.30,200 on 14th.
    • Prices once again fell all through the week though not as steeply as the first week.
    Nov '15 - Week 3 (15th to 21st)
    • Silver Rates were stable overall in the 3rd week.
    • Prices were about Rs.30,200 on 15th as well as on 21st.
    • Silver depreciated to a monthly low of Rs.30,000 on 19th and 20th before rallying back to Rs.30,200 on 21st.
    Nov '15 - Week 4 and Week 5 (22nd to 28th, 29th to 30th)
    • Silver Rates depreciated marginally in the last weeks of November.
    • Prices were about Rs.30,200 on 22nd and Rs.30,100 on 30th.
    • Silver breached Rs.30,500 mark on 27th before stabilizing at the month ending rate of Rs.30,100 by 30th.

    Factors Affecting Silver Rates in India

    There are a lot of factors at play that impact silver prices in India. Even though silver rates have shown a steady increase over the last two decades, the historical trends should not be taken as a benchmark when considering future price volatility. Investment in silver as a commodity has gained steam in the country, and investors need to factor in various variables if they are to make decent profits from silver in the short/long run.

    1. Large investors: The silver market is much smaller than the gold market. As such, large investors or traders can potentially influence silver prices. A point in case here is Warren Buffet buying 130 million troy ounces of silver in 1997 at $4.50/ounce, which impacted market prices.
    2. Oil prices: Mining of silver is an energy-intensive process, and so silver prices are correlated with oil prices, the primary energy source in today’s world. Also, imported silver requires a strong logistics platform backed by consistent oil supply. Volatility in oil prices cause dynamic prices of both gold and silver.
    3. Industrial demand: As India moves towards greater industrialization, the need for silver as an industrial commodity has seen a spike in recent times. This is touted to drive silver prices in the near future and beyond.
    4. Import duties: As silver is primarily imported in India, silver rates are directly affected by the import duty applicable on imports. A higher import duty translates to higher silver prices in India.
    5. US Dollar fluctuation: Silver prices are inversely affected by the USD Index. This means that a strengthening USD can decrease silver rates in India, while a weakening Dollar signals increasing silver prices.
    6. Gold prices: In general, silver prices follow the upward/downward trend of gold closely. If there is a spike in demand for gold leading to increase in its price, silver will follow suit. Similarly, any decrease in gold prices will see a greater decrease in silver prices.
    7. Trade deficits: The greater the amount of imported commodities, the more will be a country’s trade deficit. As the trade deficit increases, the government may take step in to take counteractive steps to curb import of commodities, such as it did in the last couple of years to rein in gold imports.
    8. Inflation: As commodities like gold and silver are preferred choices of customers to hedge their funds in times of financial stress owing to inflation, prices of silver tend to increase when inflation is high.
    9. Large Concentrated Short Position:3 or 4 of the largest silver traders currently hold 90% of all short silver contracts. This sort of concentration of a publicly traded commodity in the hands of few can have significant implications on prices of silver in the short and long run.

    Silver Measurements

    Silver is measured in troy weight and grams. Silver may sell in troy ounces, million ounces, grams, kilograms, tonnes, short tonne, metric tonnes, tolas etc.

    Silver fineness is measured as the percentage of silver in the resulting alloy. For instance, a fineness of 900 implies 90% silver in the final product. Fineness is the parts of silver per 1000 parts. Usually copper is added to silver to produce more durable coins. Silver may also be measured in carats similar to how gold is measured.

    Silver Demand in India

    Silver has the dual usefulness of being a precious metal as well as an industrial metal. World over, silver is primarily traded for its industrial implications, however Indian silver imports are largely for jewelry and silverware. India is among the top 5 silver consumers in the world. About 60% of silver consumption in India is from the rural population who view it as a solid savings commodity.

    India does not produce silver in a significant scale and most of the silver has to be imported from outside the country. Moreover, silver demand has been on the rise in major growing economies like India and China during the past few years. Nascent industries such as medicine, manufacturing etc. are picking up demand for silver, and this may soon translate to higher levels of imports.

    Silver Commodity Trading in India

    Silver as a commodity is traded in three commodity exchanges in India:

    1. Multi Commodity Exchange (MCX).
    2. National Commodity & Derivatives Exchange (NCDEX).
    3. National Multi Commodity Exchange (NMCE).

    Silver is traded in 3 contract types:

    Silver Mini (SILVERM)
    • Trading units of 5 kg.
    • Base value of 1 kg.
    • Price quotation: Ex-Ahmedabad.
    • Maximum order size of 600 kg.
    • Daily price limit of 4%.
    • Tick size (minimum price movement) of Re. 1 per kg.
    • Upper limit on positions: 60 MT for all silver contracts combined for individual investors. 300 MT or 15% of market wide open positions for a member collectively investing for all clients.
    • Purity grade 999 and fineness 999.
    Silver Micro (SILVERMIC)
    • Trades from Monday to Friday.
    • Trading units of 1 kg.
    • Base value of 1 kg.
    • Price quotation: Ex-Ahmedabad.
    • Maximum order size of 600 kg.
    • Daily price limit of 4%.
    • Tick size (minimum price movement) of Re. 1 per kg.
    • Upper limit on positions: 60 MT for all silver contracts combined for individual investors. 300 MT or 15% of market wide open positions for a member collectively investing for all clients.
    • Purity grade 999 and fineness 999.
    Silver 1000 (SILVER 1000)
    • Trades from Monday to Friday.
    • Trading units of 5 kg.
    • Base value of 1 kg.
    • Price quotation: Ex-New Delhi.
    • Maximum order size of 600 kg.
    • Daily price limit of 4%.
    • Tick size (minimum price movement) of Re. 1 per kg.
    • Upper limit on positions: 60 MT for all silver contracts combined for individual investors. 300 MT or 15% of market wide open positions for a member collectively investing for all clients.
    • Purity grade 999 and fineness 999.

    Silver Futures Contract (SILVERHEDG)

    • Trades from Monday to Friday.
    • Trading units of 30 kg.
    • Price quotation: Ex-New Delhi.
    • Maximum order size of 1,500 kg.
    • Daily price limit of 4%.
    • Tick size (minimum price movement) of Re. 1 per kg.
    • Upper limit on positions: 100 MT or 5% of market wide open positions for all silver contracts for clients. 1,000 MT or 20% of market wide open positions for a member collectively investing for all clients.
    • Purity grade 999 and fineness 999.

    Check Out Silver price of top Cities of India

    Silver Rate in Chennai Silver Rate in Bangalore Silver Rate in Mumbai
    Silver Rate in Delhi Silver Rate in Pune Silver Rate in Kolkata


    Why is the silver rate increasing?

    The rising market volatility and the weakened currency markets, especially the Dollar, are attributed to the rise in the silver rate.

    Why are silver coins/bars considered a good investment option?

    Given the current monetary policies that are pushing down the value of currencies the world over, investing in silver will give you strong returns.

    Silver coins, usually sold by government mints, can be verified and liquidated quickly if the need arises.

    Silver bars have the lowest premium over the spot price and are also easy to carry and transport, making it a good idea of you’re looking at building your portfolio quickly.

    Is silver a good investment in 2016?

    Predictions tend to favour a good run for silver in 2016 given the uncertain condition of the global economy. The global markets appear to have reacted badly to the US Federal Reserve’s rate cut, leading to even more instability in an already volatile market.

    While silver by itself is a volatile investment, it looks set for a bull run after a long period of price stagnation, making it a good idea to invest before the prices rise.

    How much is one gram of silver worth?

    One gram of silver is worth Rs. 44.26 at current market rates. (as on 19th May16)

    How much does one troy ounce of silver cost?

    One troy ounce of silver (equal to approximately 31 grams) costs Rs. 1139.96 approximately. (as on 19th May16)

    How much is one kilogram of silver worth?

    One kilogram of silver (in the form of a silver bar) is currently worth Rs. 44, 258. (as on 19th May16)

    Where can I buy silver bars in India?

    If you’re looking at investing in silver, you can buy silver bars from public as well as private sector banks. You can also choose to buy silver bars from jewellers.

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

    Buying silver coins from a bank assures you of the quality and authenticity of the silver. Each silver purchase from a bank comes with a quality certificate. The bank would sell the silver to you at the prevalent market rate, reducing the chance of you paying too much for the silver.

    What is the best silver bullion to buy?

    While there is no ‘best silver’ to buy, there are certain advantages to buying silver coins. They are easy to transport and liquidate, making them a good investment. They are also easy to collect compared to silver bars, and junk silver coins can be bought at below the spot price.

    What is hallmarking?

    Hallmarking is the process of officially recording and determining the precious metal content in gold or silver articles. It is used as a guarantee of purity of the metal article and is universally accepted in many countries.

    What are the benefits of buying hallmarked bullion?

    Buying hallmarked bullion assures the customer that the article being bought is genuine and is of a specific purity and grade.

    What should one look for in a hallmarked silver article?

    A hallmarked silver article will contain the following:

    • A BIS hallmark on the surface of the article
    • A purity grade (ranging from 999.9 to 999 for fine silver).
    • Jeweller’s identification mark
    • Year of marking
    • Hallmarking centre’s identification mark (logos as displayed on the BIS website)

    What are some tips on buying silver?

    • Start small, especially if you’re buying from a dealer.
    • Shop around to find the best rate if you’re buying coins as most dealers will charge a premium over spot price. Find a dealer who charges the lowest price.
    • Always do your research before buying to ensure you’re not being defrauded.
    • If you’re looking to buy and keep, invest in bullion such as silver bars instead of coins, whose value fluctuates depending on its demand from time to time.

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

    Silver stocks are dependent on the silver mining business, whereas silver bullion is dictated purely based on market demand and is considered a better investment option than silver stocks.

    How liquid is bulk silver and will the dealer buy it back from me?

    Silver coins will usually be bought back in bulk, with the dealer exchanging your silver for regular currency. However the rate at which the silver is bought back would depend on the prevailing market conditions.

    When is the best time to buy silver?

    While most investors generally buy silver when the financial markets and economy are experiencing a downturn, this is one of the worst times to buy since bullion prices are always higher given the uncertainty of currency and stocks. The best time to buy would be when markets are somewhat stable, resulting in the rate being relatively low.

    Will the bank levy a charge or premium if I buy silver from them?

    Yes, most banks will levy a premium on bullion sold by them, which would depend on the market scenario at the time. Buying from a bank is generally a safer options since this bullion comes with a quality certificate and is guaranteed by the bank and an external agency.

    Will I have to pay tax on my silver purchase?

    You will be charged VAT (value Added tax) on your bullion purchase at the time of purchase. If you have bought silver bullion above Rs. 5 lakh in cash, you will be required to pay tax of 1% at source (at the time of purchase).

    Where can I sell my silver bullion in India?

    You can sell bullion (in the form of coins and bars) to authorised bullion dealers. Banks are not allowed to buy back bullion sold by them.

    What are the advantages of investing in silver?

    • In times of economic upheaval, bullion in the form of gold and silver appreciates in price as they assure guaranteed returns on selling.
    • Silver is set to appreciate in value, making it a good investment choice.
    • Silver is cheaper to invest in than gold, enabling all individuals to safeguard their wealth by investing in it.
    • Silver has greater value as it is used in industry for a number of purposes, making it more valuable than gold.
    • Silver reserves are nearly exhausted as the metal has not been mined in decades, creating a ‘silver deficit’ and driving up its value and price.
    Also Know: Gold Rate in India

    Read more on Silver

    Other Products

    Read Silver Rate India news or Enjoy it on the go Google Play

    • Silver and Gold Trade High on the MCX

      On the MCX (Multi Commodity Exchange), silver and gold futures trade increased on Friday. The high trade was because of an increase in the purchase of these metals by jewellers, industries and investors. Gold trade increased by 0.20% or Rs.50 to touch Rs.28,467 per 10 gram and Silver trade increased by 0.31% or Rs.124 to touch Rs.40,722 per kg.

      17th March 2017

    • Silver down by Rs.1,350, gold falls by Rs.275

      Gold prices plunged below the Rs.30,000 mark by plunging Rs.275 to trade at Rs.29,725 per 10 grams of gold at the bullion market. This is due to weak trend noted globally and a reduction in demand from local jewellers. Silver also fell by Rs.1,350 to Rs.42,700 per kg due to reduced offtake by coin makers and industrial units.

      According to traders, a weak overseas trend and dollar strength against a basket of currencies on rising hopes of US rate hike this month resulted in these metals having less appeal. Throughout the world, the price of gold fell by 0.21% to trade at USD 1,231.40 per ounce in Singapore. Additionally, a fall in demand from local jewellers and retailers at current levels too had an impact on prices. In the national capital, gold of 99.5% and 99.9% purity tumbled by Rs.275 each to trade at Rs.29,757 and Rs.29,725 per ten grams respectively.

      Sovereign however was steady at Rs.24,500 per piece of 8 grams. Along with gold, silver ready fell by Rs.1,350 to Rs.42,700 per kg and weekly-based delivery by Rs.1,160 to Rs.42,160 per kg. Silver coins also reduced by Rs.1,000 to Rs.73,000 for purchasing and Rs.74,000 for selling of 100 pieces.

      13th March 2017

    • Drop in Silver Prices

      The lowered demand for precious metal in the recent time has dropped the prices for silver significantly. It was resulted by the events of participates cutting down their bets on this in future trade of silver. The experts are noticing a trend in the fall of the precious metals' prices. Even the profit-booking by speculators are becoming one of the necessary factors for determining the prices of silver. The current demand for silver is lower due to many factors including the Federal Reserve policy meeting, reduced demand from buyers, etc.

      27th February 2017

    • Silver prices expected to peak in 2017

      The year 2017 could very well be the year of silver, with experts of the opinion that silver could overtake gold as the new safe haven for investors. With silver being extensively used for fashion jewellery and home décor, the demand has increased drastically, with 7,000 tonnes of the precious metal consumed in the year 2015. This demand could see prices of silver go up by 15-20% in 2017, beating the expected returns from gold.

      Experts also believe that there could be a resurgence in demand for silver from rural India. Silver currently traded at Rs.38,500 per kg in the capital, having witnessed an increase of 16% in the year. While both silver and gold rates are correlated, silver is expected to perform better than gold, offering improved returns on investment in the long term.

      27th December 2016

    • Gold price drops by Rs.200, while silver goes up

      A weak trend overseas and recent demonetisation has caused a drop in gold prices by Rs.200 to Rs.29,050 per 10 gm. According to traders, the drop is due to a low demand in the domestic spot market. In Delhi, 99.9% and 99.5% purity gold fell by Rs.200 to Rs.29,050 and Rs.28,900 per 10 gm, respectively. Sovereign held steady at Rs.24,400 per 8 gm.

      However, high demand by industrial units and coin makers has increased silver prices by Rs.200 to Rs.41,200 per kg. The silver prices for weekly-based delivery have gone up by Rs.40 to Rs.40,365 per kg. Silver coins held steady at Rs.74,000 for buying and Rs.75,000 for selling.

      13th December 2016

    • Silver demand drops a four-year low, deficit shrink by 60%

      With rising silver prices and weakening consumer sentiment, consumers have lost interest in buying jewellery, bars, and coins. A fall in mine output is expected to maintain the physical deficit in the market, however the shortfall is expected to shrink by almost 60%.

      According to GFMS, the silver market is expected to face an annual physical deficit of 52.2 million ounces, this year, marking the 4th consecutive time in which it has experienced an annual physical shortfall. After three years of decline, silver prices have climbed by nearly a quarter this year, against expectations for further hike in U.S. interest rates faded. Sale of silver-backed exchange-traded funds in order to cash in on increasing prices and rising exchange inventories, propelled the silver market’s overall net balance.

      Global solar installations have led to an increase of silver demand in the photovolataic sector, rising by 11% to record 83.3 million ounces.

      22nd November 2016

    • Silver Trading Range to be between 43682 and 44448

      Silver prices fell as investors turned their focus on the next set of U.S. data to see whether it supports expectations that the interest rates will be raised by the Fed. The US consumer confidence climbed to an 11-month high in the month of August, with the labour market looking bright signalling an improvement in the economy. While, Silver has performed the best among all metals, displaying a rally of 21.5% in the second quarter after an 11.3% gain in the first quarter.

      Silver ETF demand is set to stay robust in the third quarter amid a healthy macro environment. Some profit-taking is likely to be seen in the final quarter of the financial year.

      1st September 2016

    • Silver rebounds as gold gains back its momentum!

      Gold gained back some of its lost sheen after there was a rise in gold price by Rs.150 to Rs.31,200 per 10 grams as jewellers rushed to purchase gold owing to the heavy demand. Silver also managed to recover from its four day low as prices increased by Rs.200 to Rs.45,400 per kg. Both the precious metals recovered as a result of fresh buying by jewellers to meet the heavy demand in the global market. Gold traded at $1,339.50 an ounce, an increase by 0.07% and silver traded up by 0.06% at $19 an ounce.

      30th August 2016

    • New Demand Leads to Recovery in Gold Prices, Silver Prices Remain Steady

      Festive demand of gold amidst higher global cues has resulted in improved purchase of gold by investors and stockists. This led to a recovery of gold prices at the domestic bullion market. However, silver prices remained stable owing to the absence of large scale purchasing activity.

      Pure gold of 99.9 purity, rose from Rs.31,545 to Rs.31,660 per 10 grams, while Standard gold of 99.5 purity, went up by Rs.115 from Rs.31,395 to Rs.31,510 per 10 grams. Silver of .999 fineness remained unchanged at Rs.46,750 per kg.

      While in the early global trade market, gold prices went up, based on a weaker dollar after the US Federal Reserve’s July meeting minutes expressed that policymakers seemed to be planning to raise interest rates in time. Spot gold reported a rise at USD 1,350.47 an ounce, while Silver also higher at USD 19,76 an ounce.

      22nd August 2016

    • Will Silver Price Reach Rs. 48650 Per Kilo?

      Choice Equity Broking is a financial firm offering various financial services like investment banking, stock trading and E-commerce services to its clients worldwide. According to CEB, Silver prices are expected to surge higher and move towards Rs. 48650 in the upcoming days. In their recent report on Silver, Choice Equity Broking stated that MCX Silver prices increased every hour and has been trading above its 50 HEMA. This is good news for Silver merchants across the globe. They have also stated that they are also observing COMEX Silver prices once in every four hours and the results look positive.

      9th August 2016

    • For more related news /update on silver price visit: Silver News

    Silver Rate - Sitemap

    Silver Rate In Metro Cities
    Silver Rate In Other Capitals
    Silver Rate In Other Major Cities
    Silver Rate In States
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.