- silver rates
Silver Rate Today in India
₹952.00
LIVE5.00 (0.53%)
Overview
10 Grams
Silver rate₹952.005.00(0.53%)
Silver price today in India
Silver is a valuable metal widely used in jewellery, utensils, coins, and other products. Like many commodities, silver is actively traded in the commodities market. The market rate for silver represents its trading price on any given day, reflecting its value both as an investment and an industrial resource. People track silver prices due to its diverse applications in industries like electronics, medicine, automotive jewellery, and art. Physical silver in the form of bars and coins is also a popular investment, especially during economic uncertainties. Additionally, silver prices often indicate shifts in economic conditions and industrial demand. For investors, silver’s appeal lies in its status as a finite resource with growing applications. Its intrinsic value, independent of other assets, positions it as a reliable store of value similar to gold. Silver has historically appreciated during inflation, making it a strong hedge against currency devaluation. This dual role as both an industrial resource and a financial asset makes silver a significant commodity in the India market. Currently, the silver price in India is ₹95.20 per gram....
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Steps for Buying Silver in India
- Choose your silver type:Decide between coins, bullions, jewellery, or digital silver. Coins are easy to access, bullions offer high purity, jewellery involves making charges, and digital silver requires no physical storage.
- Select a trustworthy seller:Consider banks for coins and bullions, authorised jewellers for hallmark silver, government mints for guaranteed purity, or commodity exchanges for digital silver.
- Understand pricing:Stay updated on current silver rates, opt for hallmarked silver for assured quality, and factor in making charges if purchasing jewellery.
- Make your purchase:Choose your payment method and ensure you receive a receipt detailing the silver’s purity and weight.
- Secure storage:Store your silver safely in a bank locker, home safe, or digitally in your investment portfolio.
- Monitor the market: Keep track of market trends to decide the best time to buy or sell your silver.
Factors Determining Silver Prices in India
- Supply and demand:Silver prices rise with increased demand from industries, jewellery purchases, or investments. Conversely, disruptions in mining and recycling can impact supply, driving prices up or down.
- Economic trends:During economic growth, silver prices increase due to higher demand for manufacturing and jewellery. In downturns, silver is seen as a safe haven, often leading to a price rise. Factors like GDP growth, inflation, and employment rates also influence investor behaviour.
- US dollar strength:Silver is globally traded in US dollars. A weaker dollar makes silver cheaper for foreign buyers, increasing demand and prices, while a stronger dollar can have the opposite effect.
- Geopolitical events:Wars or major political shifts drive investors toward precious metals like silver to hedge against uncertainty, often boosting prices in India.
- Inflation: As currency value declines, investors turn to assets like silver that retain value, pushing prices higher.
- Interest rates:Lower interest rates make non-yielding assets like silver more appealing, increasing demand and prices.
- Market sentiment:Perceptions of future economic conditions, inflation, and geopolitical stability drive speculative trading, influencing silver rates in India.
Impact of Global Markets on Silver Rates in India
The global price of Silver is influenced by several key factors:
- Supply and demand:Disruptions in Silver mining or shifts in industrial demand can reduce global supply, pushing prices up.
- Currency exchange rates:A weaker dollar can make silver cheaper for non-U.S. investors, increasing global demand and driving prices higher. Conversely, a stronger dollar can lower demand and prices.
- Investor sentiment:Geopolitical events or economic uncertainties often lead investors to seek safe-haven assets like silver, boosting its demand and price.
- Commodity market linkages:Commodity market linkages: Silver prices often move in tandem with other precious metals like gold. If gold prices rise due to inflation or interest rate changes, silver prices usually follow.
- Trade policies:Import tariffs and restrictions can impact silver supply. Higher import costs typically lead to higher prices.
- Macroeconomic indicators:Macroeconomic indicators: Economic indicators like industrial production and consumer spending influence demand. Strong economic growth can boost demand and prices, while slowdowns can have the opposite effect.
Things to Know Before Investing in Silver in India
Before investing in silver, consider the following:
- Forms of Silver:Choose from physical silver, ETFs, or silver mining stocks, depending on your investment goals.
- Market volatility:Silver is more volatile than gold, offering potential for quick gains but also higher risk. Be prepared for fluctuations.
- Track prices:Silver rates are influenced by global economics and supply-demand factors. Stay updated to make informed decisions.
- Purity & quality:When buying physical silver, look for purity marks like 999 or hallmarked silver to ensure quality.
- Tax implications:Different silver investments have varying tax obligations. Plan accordingly.
- Diversification:Silver can diversify your portfolio, providing stability and a hedge against market volatility and inflation.
- Investment term:Decide whether you’re investing for long-term value storage or short-term trading.
- Avoid jewellery:If investing, opt for coins or bars instead of jewellery to avoid high making charges.This version is more direct, making it easier to read while maintaining key information.
Silver Rate in India
| Gram | Today | Yesterday |
|---|
| 1 Gram | ₹95.20 0.50 (0.53%) | ₹94.70 2.20 (2.38%) |
| 8 Grams | ₹761.60 4.00 (0.53%) | ₹757.60 17.60 (2.38%) |
| 10 Grams | ₹952.00 5.00 (0.53%) | ₹947.00 22.00 (2.38%) |
| 12 Grams | ₹1,142.40 6.00 (0.53%) | ₹1,136.40 26.40 (2.38%) |
Silver Investment in India
Silver / 10 Grams
₹952.00
Difference between physical silver and silver ETF
The main difference between investing in physical silver and silver ETFs is the risks and benefits associated with the way silver is owned.
Physical Silver:You directly own the metal, giving you a tangible asset. You can sell it whenever you want, but you need to handle storage, insurance, and ensure its purity.
Silver ETFs:These are funds that track silver prices and are traded like stocks. They're easy to buy, sell, and diversify, but come with management fees and may not perfectly match silver's spot price.
In the end, the choice depends on the investor's risk tolerance, investment goals, and personal preferences.
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Is Silver investment safe in India
Investing in Silver in India can be considered a relatively safe option, but it comes with its own set of risks.
Silver is traditionally viewed as a safety asset, especially during times of economic uncertainty and inflation. India also has a cultural affinity for Silver, which adds to the demand with retail investors purchasing substantial quantities over the years.
Moreover, the introduction of various investment options like Silver ETFs and digital Silver, has made it easier for investors. They get to invest in Silver without worrying about storage and purity while also getting liquidity and diversification benefits.
However, it is important to note that silver prices can be volatile, influenced by global market dynamics, economic conditions, and changes in supply and demand. Additionally, factors like government policies and geopolitical events can also impact Silver prices in India.
Therefore, while investing in Silver can be a safe option in India, it is essential to conduct thorough research, and consider financial goals and risk tolerance before making investment decisions.
Verification of hallmarked silver in India
To verify hallmarked silver in India, look for the Bureau of Indian Standards (BIS) hallmark, a triangle with a dot inside, confirming the silver’s tested purity. Additionally, check the purity grade, usually marked as 925 or 999, indicating the percentage of silver (e.g., 92.5% for sterling silver).
Each registered jeweller has a unique identification mark engraved on the silver, such as a logo or code, which helps trace the seller. The year of hallmarking is also important, as it shows when the item was certified.
For better verification, use the BIS Care app to check the authenticity by entering the Hallmark Unique Identification (HUID) number found on the item. Alternatively, you can verify the hallmark on the BIS website.
Smart ways to invest in silver in India
Depending on your financial goals and risk tolerance, you can explore various ways to invest in silver:
- Physical Silver:Buying coins, bars, or bullion offers tangible ownership and security during economic uncertainty. However, consider the costs of storage and insurance.
- Silver ETFs:Exchange-Traded Funds (ETFs) allow you to invest in silver without owning it physically. They are traded like stocks, offering high liquidity and ease of trading.
- Silver Mining Stocks:Investing in silver mining companies can provide leveraged exposure to silver prices. When silver prices rise, mining stocks often see significant gains.
- Silver Futures:For experienced investors, trading silver futures contracts can offer high returns, though it carries greater risk due to market volatility.
To ensure stability, include silver in a diversified portfolio. Silver often behaves differently from stocks and bonds, providing a hedge against market volatility and inflation.
Here are the key benefits of investing in Silver in India
- Strong cultural significance drives consumer demand, positively impacting prices
- More affordable than Gold while still offering portfolio diversification
- Acts as a safe asset during economic uncertainty
- Historically shows significant price appreciation during certain cycles
- Expanding investment options like Silver ETFs and digital Silver
- Tax advantages when investing through an Individual Retirement Account (IRA)
- Improved accessibility through the India International Bullion Exchange (IIBE).
Historical Silver Rate
1 Gram
8 Grams
10 Grams
12 Grams
| Term | Silver Rate |
|---|
| 10 days | ₹934.70 |
| 20 days | ₹958.30 |
| 30 days | ₹982.20 |
| 60 days | ₹986.70 |
| 90 days | ₹947.90 |
Silver Rate Analysis
| Silver Rate | Silver |
|---|
Silver Rates Over Last 10 Days
1 Gram
8 Grams
10 Grams
12 Grams
| Date | Silver Rates |
|---|
| 21 Nov 2024 | ₹952.00 0.53% |
| 20 Nov 2024 | ₹947.00 2.38% |
| 19 Nov 2024 | ₹925.00 0.00% |
| 18 Nov 2024 | ₹925.00 -0.11% |
| 17 Nov 2024 | ₹926.00 0.11% |
| 16 Nov 2024 | ₹925.00 0.00% |
| 15 Nov 2024 | ₹925.00 -1.60% |
| 14 Nov 2024 | ₹940.00 -0.11% |
| 13 Nov 2024 | ₹941.00 0.00% |
| 12 Nov 2024 | ₹941.00 -2.08% |
Frequently Asked Questions
What are the current silver rates in the India for 1 gram, 10 grams, and 1 kg?
The current silver rates in the India for 1 gram is ₹95.20, 10 gram is ₹952.00 and for 1 kg is ₹95,200.00.
What is the rate of 1kg of silver in India?
The rate of 1 kg silver in India is ₹95,200.00.
What is the rate of 10 gram silver in India ?
The rate of 10 gram silver in India is ₹952.00.
Will I have to pay a GST on buying silver in India?
Yes, you have to pay the Goods and Services Tax (GST) when buying silver in India. The GST rate is 3% on silver purchases and 5% on making charges for silver jewellery. For example, if you buy silver worth ₹500, the total cost will be ₹515, including GST.
Are there any taxes applicable on the purchase of silver in India?
Yes, taxes are applicable when you purchase silver in India. A GST (Goods and Services Tax) of 3% is applied on purchases, and 5% on making charges for silver jewellery. Additionally, if you sell silver, you may incur Short-term Capital Gains Tax (STCG) or Long-term Capital Gains Tax (LTCG) depending on the holding period.
Can I test the purity of silver?
Yes, you can test the purity of silver in India. You can do a magnet test, as genuine silver is not magnetic, or the bleach test which will tarnish silver quickly. You can also download the BIS Care app to verify the authenticity of hallmarked silver. For precise results, you can consult an expert or a jeweler.
How do I get the best silver rate in India ?
To get the best silver rates in India, you should compare prices from multiple sources like local jewelers, banks, and online platforms. You should also monitor the current market rates as they fluctuate based on international prices and local demand. Moreover, you can get a better deal if you purchase it in bulk or during promotional offers. But make sure to verify the purity and authenticity of the silver before you buy it.
Is it necessary to buy a silver ornament that is hallmarked?
It is not mandatory to buy hallmarked silver ornaments, but it is highly recommended. Hallmarking ensures that the silver is pure and of good quality, and provides consumer protection against counterfeit products. Even though hallmarking is not compulsory for silver, it is recommended to purchase hallmarked items to have confidence about the authenticity and value of your purchase.
How many grams is equal to 1 tola in silver?
One Tola is equal to 11.6638 grams.