Estimated silver benchmark

Silver Rate Today in India

10:58 pm IST

Estimated 999 silver price per gram and per kilogram, calculated from an international market benchmark and the latest available USD/INR rate.

₹184.23

/ gram

999 fine silver

₹1,842

/ 10 g

₹1,84,227

/ kilogram

Any weight

Enter weight to calculate value (999 silver)

₹46,057

Indicative estimate including 15% import duty and 3% GST. Dealer premiums, making charges and other fees are excluded. Actual local quotes can differ; market data may be delayed.

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Silver price calculator

Price any quantity at any fineness, then add the making charge your jeweller quotes to see the full invoice.

Stamped on the article

Ask your jeweller for this number

%

Estimated invoice

Metal value

10 g at 925 fineness

₹1,656

Making charges

12% of metal value

₹198.73

GST at 3%

On metal plus making

₹55.65

Total payable

₹1,910

Effective cost per gram

₹191.05

Built from the benchmark used above. Import duty is already inside the metal value. Hallmarking fees, wastage and any dealer premium are not — add them to the making charge if your jeweller quotes them separately.

Silver price chart in rupees

Each point is that day's international closing benchmark converted at that day's USD/INR rate. Historical values exclude import duty, GST and dealer premiums.

Historical data temporarily unavailable.

Rate card

Silver price today by weight and purity

Estimated rates including 15% import duty and 3% GST. Making charges, wastage and dealer premiums are excluded.

Silver price in India today by weight and fineness, in Indian rupees
Weight

999 silver

Fine silver

925 silver

Sterling silver

900 silver

Coin silver

800 silver

Continental silver

1 g₹184.23₹170.58₹165.97₹147.53
8 g₹1,474₹1,365₹1,328₹1,180
10 g₹1,842₹1,706₹1,660₹1,475
50 g₹9,211₹8,529₹8,299₹7,376
100 g₹18,423₹17,058₹16,597₹14,753
500 g₹92,113₹85,290₹82,985₹73,764
1 kg₹1,84,227₹1,70,580₹1,65,970₹1,47,529
999

Bullion bars, coins and investment silver

925

Jewellery, cutlery and hallmarked articles

900

Older coinage and heritage pieces

800

Imported antique and decorative ware

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How today's silver rate in India is calculated

Five steps estimate a rupee price from an international USD benchmark. Futures benchmarks can differ from physical spot prices and local dealer quotes.

1

USD / oz

Start with the international price

$51.02

/ troy oz

The international silver benchmark is quoted in US dollars. Futures and physical spot prices can differ; this calculation is an estimate, not a dealer quote.

2

÷ 31.1035

Convert the ounce to grams

$1.64

/ gram

A troy ounce is 31.1035 grams, not the 28.35 grams of an ordinary ounce. Using the wrong ounce overstates the price by about ten per cent.

3

× ₹94.91

Convert dollars to rupees

₹155.69

/ gram

At the latest available USD/INR rate. The rupee estimate can change even when the dollar benchmark does not, because exchange rates also move.

4

+ 15%

Add 15% import duty

₹179.04

/ gram

India imports almost all of its silver. Basic customs duty and the agriculture infrastructure cess land on the metal before it reaches a dealer.

5

+ 3%

Add 3% GST

₹184.23

/ gram

Apply GST, then multiply by 0.999 for 999 fineness to match the headline estimate. Dealer premiums and making charges are excluded.

This calculation assumes 15% standard import duty (10% basic customs duty plus 5% AIDC, effective 13 May 2026) and 3% GST. Actual customs valuation, concessions and dealer premiums can differ.

By city

National silver estimate for major Indian cities

These rows use the same national benchmark for comparison. We do not collect separate dealer prices in each city.

Why the rows match

Every row repeats our calculated national estimate. Local bullion association rates and dealer quotes can differ because of supply, transport, premiums and tax treatment. Compare quotes on the same purity and tax basis.

National silver benchmark for comparison across cities, 999 fine silver, in Indian rupees
City10 g100 g1 kg

Mumbai

Maharashtra

₹1,842₹18,423₹1,84,227

Delhi

NCR

₹1,842₹18,423₹1,84,227

Chennai

Tamil Nadu

₹1,842₹18,423₹1,84,227

Kolkata

West Bengal

₹1,842₹18,423₹1,84,227

Bengaluru

Karnataka

₹1,842₹18,423₹1,84,227

Hyderabad

Telangana

₹1,842₹18,423₹1,84,227

Pune

Maharashtra

₹1,842₹18,423₹1,84,227

Ahmedabad

Gujarat

₹1,842₹18,423₹1,84,227

Jaipur

Rajasthan

₹1,842₹18,423₹1,84,227

Lucknow

Uttar Pradesh

₹1,842₹18,423₹1,84,227

Surat

Gujarat

₹1,842₹18,423₹1,84,227

Nagpur

Maharashtra

₹1,842₹18,423₹1,84,227

Coimbatore

Tamil Nadu

₹1,842₹18,423₹1,84,227

Kochi

Kerala

₹1,842₹18,423₹1,84,227

Chandigarh

Punjab

₹1,842₹18,423₹1,84,227

Visakhapatnam

Andhra Pradesh

₹1,842₹18,423₹1,84,227

999 fine silver, inclusive of import duty and GST, excluding making charges and dealer premium. These rows repeat one national estimate; they are not local dealer quotes.

Market drivers

What moves the silver price

Silver is unusual: half its demand is industrial and half is investment, so it responds to two very different sets of forces.

Industrial demand

Roughly half of all silver consumed goes into solar cells, electrical contacts, brazing alloys and electronics. Silver is the most conductive metal there is, which makes it hard to substitute — so manufacturing cycles move the price directly.

The dollar and the rupee

Silver is quoted in US dollars. A weaker rupee raises the price in India even when the international rate has not moved at all, which is why the rupee chart and the dollar chart can disagree.

Investment and safe-haven flows

When real interest rates fall or inflation expectations rise, capital moves into precious metals. Silver follows gold in direction but typically with larger swings in both directions.

Duty and tax changes

Import duty and GST are applied on top of the landed metal cost. A budget revision to either changes the retail rate overnight, with no movement in the underlying market.

Mine supply and recycling

Most silver is a by-product of copper, lead and zinc mining, so supply responds to those markets rather than to silver's own price. Recycled scrap fills the gap when prices run high.

The gold-silver ratio

Traders watch how many ounces of silver one ounce of gold buys. A historically wide ratio is often read as silver being cheap relative to gold, and tends to attract buying.

Fineness

Silver purity, explained

The number stamped on an article tells you how much of it is actually silver. Price scales with that number, not with weight alone.

999

Fine silver

99.9% silver

₹184.23 / g

925

Sterling silver

92.5% silver

₹170.58 / g

900

Coin silver

90.0% silver

₹165.97 / g

800

Continental silver

80.0% silver

₹147.53 / g

Hallmarking

Silver hallmarking remains voluntary in India. Under IS 2112:2025, a hallmarked silver article carries the BIS Standard Mark with SILVER, its purity grade and a HUID code. Check the hallmark and ask for purity to be recorded on the invoice.

Questions

Silver rate questions

What buyers most often ask about the silver price in India, the taxes inside it, and how to read a jeweller's quote.

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