Silver Rate Today in India

Silver trades internationally in US dollars per troy ounce, where one troy ounce is 31.1035 grams. Divide the dollar price by 31.1035 to get dollars per gram, multiply by the USD/INR exchange rate to get rupees per gram, add 6% import duty, then add 3% GST. Anything a seller charges beyond that — making charges, wastage, hallmarking fees — is their own margin, not part of the metal price.

The metal price is the same for everyone, because silver settles in one global market. Quotes differ because of what is bundled into them: some sites publish the pre-tax landed cost, some publish the retail rate with GST, and jewellers add making and wastage charges on finished articles. A quote is only comparable to another once you know which of those it includes.

The underlying metal rate is national — there is no separate spot price for a city. What varies by location is the dealer's premium over spot and the making charge on jewellery. Local bullion associations publish reference rates that differ by small amounts because of transport and dealer margin, not because the metal is priced differently.

999 is fine silver: 99.9% pure, used for bars, coins and investment silver. 925 is sterling silver: 92.5% silver alloyed with 7.5% copper, which makes it hard enough for jewellery and cutlery that would bend if made from fine silver. A sterling article is priced at 92.5% of the fine silver rate for its weight, before making charges.

It includes 6% import duty and 3% GST. It does not include making charges, wastage or any dealer premium, because those are set individually by each seller and typically run from 5% to 20% on finished jewellery. Use the calculator on this page to add your jeweller's quoted making charge to the metal cost.

The page revalidates every 15 minutes against the live international market, so the quote you see is at most fifteen minutes old during trading hours. The timestamp next to the rate shows exactly when the underlying market data was captured. Outside market hours the last settled price carries forward.

Silver is more volatile than gold in both directions, because its price is driven by industrial demand as well as investment flows. That makes it a higher-risk holding over short periods and a different exposure from gold rather than a cheaper substitute for it. This page is a price reference and does not offer investment advice; speak to a registered adviser before committing capital.