Silver Rate Today in India 23 Mar 2026 | 1 gram, 10 gram, 100 gram & 1 kg Rates for Major Cities & Global Updates

Summary:


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.

Silver Price (Today & Yesterday)

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

Silver Rate Today (10 gram) in Top 10 Cities

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

Top News and Events

  • 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.

What are the Factors that Affect the Silver Price in India?

  • 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.

What are the Benefits of Investing in Silver?

  • 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

Different Options to Invest in Silver in India

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.

How to Invest in Silver in India?

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.

Key Points to Remember When Buying Silver

  • 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

How Silver Prices Are Calculated in India

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

Difference Between 999 Silver and 925 Silver Rates

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

Silver ETFs in India vs Physical Silver

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

Frequently Asked Questions (FAQs)

1. How is the silver rate measured?

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.

2. Who decides the silver rate in India?

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.

3. What is the ideal silver purity for investment?

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.

4. What is the highest purity grade that can be provided to silver?

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.

5. When is a good time to buy silver?

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.

6. Where does India import silver from?

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.

7. Why is the silver rate increasing 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.

8. Who is the biggest consumer of silver?

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.

9. Which industry uses the most silver?

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.

Published Date : 23 Mar 2026

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Content Partner - Dalal Street Investment Journal Wealth Advisory Private Limited



This article is for educational purposes only and should not be considered investment advice. Market investments are subject to risks. DSIJ Wealth Advisory Private Limited is a SEBI-registered Research Analyst (Reg. No: INH000006396) and Investment Adviser (Reg. No: INA000001142). Please consult your financial adviser before investing. 

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