Live Silver Rate Today
Find the latest silver prices in India. The rate is updated once a day from international markets.
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Disclaimer: The gold and silver rates displayed on this app/website are for informational purposes only and are sourced from various external market feeds. While we strive to provide accurate data, prices may vary due to local market conditions, GST, making charges, and city-specific tariffs. LabhGrow, its developers, and owners are not responsible for any financial loss or decision made based on this information. Users are strongly advised to consult with their local jeweler or a certified financial advisor before making any purchase or investment. Prices are subject to change without notice.
Frequently Asked Questions about Silver Rate in India
The live silver rate in India is primarily determined by international prices, set by markets like the London Bullion Market Association (LBMA). This international price, quoted in US dollars per troy ounce, is converted to Indian Rupees. The final rate is influenced by the USD-INR exchange rate, import duties levied by the Indian government, and local supply and demand dynamics.
- Fine Silver (99.9% Purity): This is the purest form of silver, containing 99.9% silver. It is very soft and is typically used for making bullion bars and coins for investment purposes.
- Sterling Silver (92.5% Purity): This is the most common type used for jewellery and silverware. It is an alloy containing 92.5% silver and 7.5% of other metals, usually copper. The added metals increase its hardness and durability.
Silver prices are highly volatile due to several factors:
- Industrial Demand: Over 50% of silver's demand comes from industrial applications (e.g., electronics, solar panels, medical devices). Economic growth and technological trends heavily influence this demand.
- Investment Demand: Like gold, silver is seen as a safe-haven asset and a hedge against inflation. Economic uncertainty often increases investment demand.
- US Dollar Strength: Silver prices generally have an inverse relationship with the US dollar. A weaker dollar tends to push silver prices up.
- Supply from Mines: Global silver production from mining operations affects its availability and price.
A Goods and Services Tax (GST) of 3% is levied on the total value of silver items (silver price + making charges) in India. This tax is added to the final bill when you purchase silver jewellery, coins, or bars.
Yes, hallmarking for silver jewellery and artifacts is available in India through the Bureau of Indian Standards (BIS). It certifies the purity of the silver. The common purity grades for hallmarked silver are 990 (99% pure) and 925 (92.5% pure for sterling silver). It is always advisable to buy hallmarked silver items to ensure you get the guaranteed purity.