Silver Price Historical Trend in India Last Updated : 28 Nov 2022

The price of silver in India is determined by the international prices. These keep changing every day.

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The rate at which silver is sold also depends on the currency movement of the Indian Rupee against the U.S. Dollar. If the Rupee falls against the Dollar, and the international prices are stable, then silver will be more expensive in India.

Historical Silver rate trend in India

The below chart represents the historical movement of silver prices in India:

This chart contains the average annual price for silver from 1981 – present.
Year Silver Rates in Rs./Kg.
1981 Rs.2715
1982 Rs.2720
1983 Rs.3105
1984 Rs.3570
1985 Rs.3955
1986 Rs.4015
1987 Rs.4794
1988 Rs.6066
1989 Rs.6755
1990 Rs.6463
1991 Rs.6646
1992 Rs.8040
1993 Rs.5489
1994 Rs.7124
1995 Rs.6335
1996 Rs.7346
1997 Rs.7345
1998 Rs.8560
1999 Rs.7615
2000 Rs.7900
2001 Rs.7215
2002 Rs.7875
2003 Rs.7695
2004 Rs.11770
2005 Rs.10675
2006 Rs.17405
2007 Rs.19520
2008 Rs.23625
2009 Rs.22165
2010 Rs.27255
2011 Rs.56900
2012 Rs.56290
2013 Rs.54030
2014 Rs.43070
2015 Rs.37825
2016 Rs.36990
2017 Rs.37825
2018 Rs.41400
2019 Rs.40,600
2020 Rs.63435
2021 Rs.62572
2022 (Till Today) Rs.55100

Check - Today's Gold rate in India

How can I invest in silver in India?

There are multiple ways to invest in silver in India. They are as follows:

  1. Silver articles, cutlery or jewellery – It is a quite common practice in India to invest in silver dinner set, jewellery or show pieces. Doing this allows individuals to make an investment and at the same time use things on a daily basis.
  1. Silver Coins – A lot of banks and financial institutions sell silver coins of varying weight. The weight of these coins varies from 1 gram to 10 grams and upwards. These coins can be easily exchanged for liquidity as and when required.
  1. Silver Bars – A lot of individuals who are looking for bulk investment opt for silver bars instead of coins. These bars can be easily exchanged for cash as and when required.
  1. Commodity Futures Exchange – The investors can also opt for silver investment in the Commodity Futures Exchange. These investments are usually made by professional investors who are keeping an eye on the silver trends and can predict market.

What should I consider while making an investment in silver?

There are various points which need to be taken into account when making a silver investment. These factors are as follows:

  • Silver rates on a daily basis - The price of silver changes every day based on the international market price of silver. That is why it is important to keep track of silver prices if you wish to get the best rates. An easy way to do so is by checking silver metal prices every day.
  • Amount of silver you wish to invest in - The amount of silver you wish to buy should also be considered when purchasing the metal.
  • Making charges - If you are looking forward to making an investment in silver jewellery or cutlery, do ask the jewellery about the making charges applied.
  • Mode of transaction - Here, the transaction mode indicates the way silver investment is made i.e. through authorized dealers and registers and banks or online e-commerce websites. Investors need to ensure that they buy genuine products with verified purity. This would help them to get the best resale value of silver.
  • Certification - It is important to get proper certification while buying silver. Doing so assures the buyer of silver purity and helps them get a good resale value.

Factors that affect silver prices in India:

The silver prices in India are affected by multiple factors. Some of them are listed below:

  • The demand for silver plays a crucial role in determining prices of the metal. Precious metal like gold and silver are purchased on auspicious occasions in India. That is why there is a surge in demand for these metals during festivals and wedding season.
  • The global market movement also affects the price of silver. Investors consider the precious metal a safe haven for investment and less volatile. This means that oil and the dollar considered being riskier assets and certainly more volatile experience a drop in their price, then the value of silver grows simultaneously.
  • Political factors, and government policy also affect the domestic price of silver in India. Similarly, any political event, or major economic change which may have global impact also plays a role in the price of silver increasing or even decreasing.

FAQs on Silver Price Trend in India

  1. Where do I buy silver at the best price in India?

    In order to buy silver at the best price in India, you should compare the rates of various jewelers and silver sellers. This will give you an idea of where you can get the best quality silver and the best price.

  2. When I buy silver, how do I make sure that the quality is good?

    To check the quality of silver, you can run a magnet over the silver coin or jewelry. If the silver sticks to the magnet, then the quality is not good. Keep in mind that Sterling silver alloy is the best silver and is 7.5% copper or other metals and 92.5% silver.

  3. Will the price of silver in India keep changing?

    Yes, the silver price in India will keep changing and this depends on lot of factors.

  4. How is the silver price today in India calculated?

    The rate of silver in India is determined by a lot of factors like geo-political and economic events, crude oil prices, price of the Dollar, commodity prices, industrial demand, government policies on import and export.

  5. What is the price of silver in 2022?

    The price of silver in 2022 is rs.55,100.

  6. Why is silver cheap as compared to gold?

    One of the reasons why silver is cheap as compared to gold is due to the huge supply and demand for the white metal. It is estimated that there is more silver than gold on earth and hence it is easy for mining companies to mine for silver. There are various other reasons which make silver cheap such as it being used for technology, inflation, etc.

  7. What is the minimum amount of silver that I can purchase on MCX?

    The minimum amount of silver that you can purchase on MCX is 100 grams. It should be 99% pure.

  8. What are the options through which I can invest in Silver?

    You can invest in silver through Silver ETFs of the US Market, Silver Futures Trading, by purchasing silver jewelry, antiques, silver coins, etc.

  9. Will the price of silver remain the same in India?

    No, the price of silver is revised on a daily basis. Hence, the price will not be the same throughout.

  10. What are the factors that affect the prices of Silver in India?

    Some of the factors which affect the prices of silver in India are the rate of Indian rupee in comparison with the US dollar, technology, supply and demand for the silver, global economic trend, etc. Sometimes, certain political factors, either domestic or international, also affect the cost of silver.

News on Silver Trend in India

  • Silver rates declined on 23 November

    The price of a kg of silver declined on 23 November. Currently, the precious white metal is traded at Rs.61,000 per kg in most of the major cities, including Pune, Mumbai, Kolkata, and Delhi. On the other hand, in Chennai, Hyderabad, and Bengaluru, silver is traded at Rs.67,000 per kg.

    24 November 2022

  • Silver rates on 16 November 2022

    On 16 November, the price of silver stands at the rate of Rs.62,000 per kg in India.

    17 November 2022

  • Low US inflation rate leads to a rise in gold and silver prices on 11 November 2022

    The dip in the rate of inflation rates increased the price of gold and silver in the domestic market. The rates also depend on different factors such as state taxes, currency exchange rates, and excise duty. You can purchase 22 karat gold (10 gram) for Rs.47,850 in the domestic market, in cities such as Mumbai, Kolkata, Bangalore, and Hyderabad. The prices are slightly higher in Delhi and Chennai costing Rs.48,000 and Rs.48,750 respectively for the same amount of 22 karat gold. The price of 10 gram of 24 karat gold is Rs.52,150 (Mumbai, Kolkata, and Hyderabad), Rs.52,200 (Bangalore), Rs.52,360 (Delhi), and Rs.53,180 (Chennai).

    12 November 2022

  • Silver prices topped Rs.60,000 on MCX on 7 November 2022

    On Monday, silver futures increased by 0.31% or Rs.185 at Rs.60,353 per kg on MCX. Spot silver dropped by 2% and traded at $20.43 in the global markets.

    8 November 2022

  • Silver price is at Rs.58,900 per kg on 2 November 2022

    The price of silver stands at Rs.58,900 per kg in the domestic markets on 2 November. COMEX silver prices increased by 3.5% to $19.8 per ounce.

    3 November 2022

  • Price of silver falls on 19 October 2022

    The price of silver dropped in India. The cost of 1 kg of silver in some of the major Indian cities such as Mumbai, Delhi, Kolkata, Bangalore, Chennai, etc. was recorded to be at Rs.56,400.

    20 October 2022

  • The price of silver dropped by Rs.1,200 on 14 October 2022

    The price of silver opened at Rs.57,300 per kg today, 14 October. The cost of white metal dropped by Rs.1,200.

    15 October 2022

  • Silver trading at Rs.66,000 for a kg in Bengaluru on 10 October

    On 10 October 2022, the prices of silver were trading at Rs.66,000 for a kg in Bengaluru. The prices remained stable when compared to the last session. The prices for a kg of silver in Hyderabad and Chennai are Rs.66,000, while the prices for a kg of silver in Kolkata, Delhi, and Mumbai are Rs.60,800.

    11 October 2022

  • Silver trading at Rs.62,000 for a kg in Bengaluru on 4 October

    On 3 October 2022, the prices of silver were trading at Rs.62,000 for a kg in Bengaluru. The prices remained stable when compared to the last session. The prices for a kg of silver in Hyderabad and Chennai are Rs.62,000, while the prices for a kg of silver in Kolkata, Delhi, and Mumbai are Rs.56,900.

    4 October 2022

  • Silver price dipped on 29 September 2022

    On 28 September, the price of silver dipped and is now trading at Rs.55,000 per kg. Silver prices in Chennai, Hyderabad, and Bengaluru are at Rs.60,700 per kg. In Delhi, Kolkata, Mumbai, and Lucknow, silver is priced at Rs.55,000 per kg.

    29 September 2022

  • Price of Silver on 22 September

    In comparison to yesterday, 20 September 2022, silver would cost Rs.57.20 per gram more on 21 September 2022.

    22 September 2022

  • Silver recorded a dip of Rs.77 on the MCX today on 16 September

    The silver rate went down by Rs.77, which is around 0.14%, as recorded on MCX (Multi Commodity Exchange). The price of white metal in two major South Indian cities, Bangalore and Chennai, is Rs.61,200 per kg. In Delhi and Mumbai, one kilo of gold is selling at Rs.56,400.

    16 September 2022

  • Silver Prices on 12 September 2022

    Silver is now being sold for Rs.55,000 per kg, a reduction of Rs.5,400. 1 kg of silver cost Rs.55,000 in Mumbai, Delhi, and Kolkata.One kilogram of silver costs Rs.60,400 in Chennai, Bengaluru, and Hyderabad.

    12 September 2022

  • Silver prices fall in India on 8 September 2022

    Silver prices in India fell by Rs.1,100 on 8 September 2022 and are Rs.52,800 for a kg. A strong dollar ensured that the prices of the white metal declined. In the previous session, silver prices closed at Rs.53,900 for a kg. Like silver, gold prices also fell in India.The prices of the yellow metal declined by Rs540 for 10 grams.

    8 September 2022

  • Silver prices hike by Rs.720 per kg on 6 September 2022

    The price of silver has gone up by Rs.720 per kg to Rs.53,220. A kg of silver is priced at Rs.58,500 in Hyderabad, Chennai, Kerala, and Bengaluru. Silver is trading at Rs.53,220 per kg in Mumbai, Delhi, and Kolkata.

    6 September 2022

  • Silver down at multiyear low on 2 September 2022

    Silver prices remained weak today in Indian market. In the Multi Commodity Exchange (MCX), silver prices stand as low as Rs.52,395 per kg.

    2 September 2022

Silver Rate in Metro Cities
Silver Rate in Priority Pages

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