In India, as of 08:00 AM on 23 Mar, the price of silver is standing today at ₹230.00 per gram and ₹2,30,000 per kilogram. Also, check out the silver prices of 1 gram, 10 gram, 1 kg, and its rate across the top ten cities of the country. Globally, silver was trading near $85 per ounce, supported by steady industrial demand, investor interest in precious metals, and cautious market sentiment amid ongoing global economic uncertainty.
Silver is one of the most widely tracked precious metals in India, used both for investment and industrial purposes. The silver rate today in India is influenced by global commodity markets, currency movements, domestic demand, and government duties. Prices are generally quoted per gram and per kilogram and may vary slightly across cities due to local taxes and logistics costs. Tracking today’s silver price and comparing it with yesterday’s rate helps investors and buyers understand short-term price movements and make more informed purchase decisions.
Gram | Today’s Price (₹) | Yesterday’s Price (₹) | Daily Price Change (₹) |
1 Gram | ₹230.00 | ₹245 | -₹15.00 |
10 Gram | ₹2,300 | ₹2,450 | -₹150 |
100 Gram | ₹23,000 | ₹24,500 | -₹1500 |
1 Kg | ₹2,30,00 | ₹2,45,000 | -₹15,000 |
Note: Prices are indicative and subject to change daily. Timestamp: 08:00 AM, 23 Mar 2026
Source: Goodreturns
City Name | Today’s Price (₹) |
Mumbai | ₹2,350 |
Delhi | ₹2,300 |
Chennai | ₹2,300 |
Kolkata | ₹2,300 |
Bengaluru | ₹2,300 |
Hyderabad | ₹2,300 |
Pune | ₹2,300 |
Ahmedabad | ₹2,300 |
Jaipur | ₹2,300 |
Kochi | ₹2,300 |
Note: City-wise silver prices are indicative and subject to change daily. Timestamp: 08:00 AM, 23 Mar 2026
Source: Goodreturns
Silver price update: Silver was trading near $85 per ounce in the international market, reflecting steady price levels amid ongoing movements in global commodity and currency markets.
Market context: Precious metals prices continued to react to global macroeconomic signals, including currency fluctuations and investor positioning in commodities, which often influence short-term movements in silver prices.
Global market trends: International silver prices directly influence domestic rates.
US dollar movement: A weaker rupee against the dollar usually increases silver prices in India.
Industrial demand: Silver is widely used in electronics, solar panels, and medical equipment.
Import duties and taxes: Changes in customs duty and GST impact final prices.
Inflation and interest rates: Silver is often seen as a hedge during inflationary periods.
Geopolitical events: Global uncertainties can increase demand for precious metals.
Acts as a hedge against inflation
More affordable than gold for small investors
Has strong industrial and investment demand
Helps diversify an investment portfolio
Offers long-term value preservation
Investors in India can choose from multiple ways to invest in silver based on their risk appetite and convenience.
Physical silver in the form of coins, bars, or jewellery is the most traditional option.
Silver ETFs offer market-linked exposure without storage concerns.
Silver futures allow experienced investors to trade based on price movements.
Digital silver platforms provide easy buying and selling with smaller ticket sizes. Each option differs in terms of liquidity, costs, and storage requirements, so investors should choose based on their investment goals.
Silver investment can start with understanding the purpose—short-term trading or long-term holding. Buyers can invest through physical silver from authorised dealers, silver ETFs via a demat account, or digital silver platforms. Checking purity, price transparency, storage safety, and taxation is essential before investing. Comparing current silver rates with historical trends can also help in timing the purchase better.
Always check the purity level before purchase
Compare prices across reliable sources
Understand making charges for physical silver
Ensure proper billing and certification
Be aware of GST and other applicable charges
Silver prices in India are usually quoted per gram and per kilogram based on international bullion rates. The final domestic price includes global spot prices, currency exchange rates, import duties, and GST. Purity plays a major role, with higher purity silver costing more. Bullion market demand, both domestic and global, also influences daily pricing.
Additional Read: Gold Price in India Today
Basis | 999 Silver | 925 Silver |
Purity Level | 99.9% pure silver | 92.5% pure silver |
Common Usage | Investment bars and coins | Jewellery and ornaments |
Price | Higher due to higher purity | Lower compared to 999 silver |
Investment Suitability | Ideal for investment | Less preferred for investment |
Durability | Softer metal | More durable due to alloy mix |
Parameter | Silver ETFs | Physical Silver |
Storage | No physical storage needed | Requires safe storage |
Liquidity | Easy to buy and sell on exchanges | Depends on the local market |
Purity Risk | No purity concerns | Purity must be verified |
Costs | Fund management charges | Making and storage charges |
Convenience | High | Moderate |
The silver rate is usually measured per gram or per kilogram and is based on prevailing prices in the international bullion market. In India, global silver prices are converted into rupees using the current USD-INR exchange rate. Import duties, GST, transportation costs, and local demand also influence the final silver rate quoted to buyers.
There is no single authority that fixes silver prices in India. Silver rates are largely driven by international commodity exchanges and bullion markets. Domestic prices adjust based on global trends, currency movement, import costs, taxes, and demand-supply conditions within the country.
The ideal purity for silver investment is 999, which means 99.9% pure silver. This purity level is commonly used for silver bars and coins meant for investment purposes. Higher purity ensures better resale value and easier price comparison with market rates.
The highest purity grade commonly available in the market is 999 silver. It contains 99.9% pure silver and is widely accepted in the bullion market. This grade is preferred for investment rather than for making jewellery due to its soft nature.
To buy silver is usually during price corrections or periods of market stability. Tracking silver price trends, global economic cues, and currency movement can help buyers make better timing decisions. Long-term investors often prefer buying in phases instead of timing the market.
India imports silver from several countries, with major suppliers including Mexico, Peru, Australia, and China. Since domestic silver production is limited, imports play a significant role in meeting industrial and investment demand in India.
Silver rates in India may increase due to rising global silver prices, a weakening rupee against the US dollar, higher industrial demand, or inflationary trends. Changes in import duties and global economic uncertainty can also push silver prices upward.
The industrial sector is the biggest consumer of silver globally. Industries such as electronics, solar energy, healthcare, and electrical manufacturing use silver extensively because of its high conductivity and durability.
The electronics and renewable energy sectors are among the largest users of silver. Silver is widely used in electronic components, circuit boards, and solar panels, making industrial demand a key factor influencing long-term silver prices.
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