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Silver Price

Updated: Jul 10,2020 02:46 IST

Silver Rate Today: Get Live Silver Price in India for Last 10 days updated on 10th July 2020. Get the exact Silver Price for 1 gram Silver, 8 gram Silver, 10 gram Silver, 100 gram Silver and 1 Kg Silver Rate. Find out the correct Silver Price/Rate and discover the accurate Silver Price Today in India, verified and updated up to this minute. You can Know all essential details and the latest updates on Silver Price in India immediately in this page. Upgrade with Today Silver Rate based on rupees per gram and per kg in major cities across India.

Today Silver Rate in India 10th July 2020

GramSilver Rate TodayYesterday Silver RateChange
1 gram₹ 51.90₹ 51.90NIL
8 gram₹ 415.2₹ 415.2NIL
10 gram₹ 519₹ 519NIL
100 gram₹ 5190₹ 5190NIL
1 Kg₹ 51900₹ 51900NIL
Gold Rate Today

Current Silver Price in Major cities

Location10 gram Silver Rate100 gram Silver Rate1 Kg Silver Rate
Chennai ₹ 519 ₹ 5,190 ₹ 51,900
Mumbai ₹ 519 ₹ 5,190 ₹ 51,900
Delhi ₹ 519 ₹ 5,190 ₹ 51,900
Kolkata ₹ 519 ₹ 5,190 ₹ 51,900
Bangalore ₹ 519 ₹ 5,190 ₹ 51,900
Hyderabad ₹ 519 ₹ 5,190 ₹ 51,900
Kerala ₹ 519 ₹ 5,190 ₹ 51,900
Pune ₹ 519 ₹ 5,190 ₹ 51,900
Vadodara ₹ 519 ₹ 5,190 ₹ 51,900
Ahmedabad ₹ 519 ₹ 5,190 ₹ 51,900
Jaipur ₹ 519 ₹ 5,190 ₹ 51,900
Lucknow ₹ 519 ₹ 5,190 ₹ 51,900
Coimbatore ₹ 519 ₹ 5,190 ₹ 51,900
Madurai ₹ 519 ₹ 5,190 ₹ 51,900
Vijayawada ₹ 519 ₹ 5,190 ₹ 51,900
Patna ₹ 519 ₹ 5,190 ₹ 51,900
Nagpur ₹ 519 ₹ 5,190 ₹ 51,900
Chandigarh ₹ 519 ₹ 5,190 ₹ 51,900
Surat ₹ 519 ₹ 5,190 ₹ 51,900
Bhubaneswar ₹ 519 ₹ 5,190 ₹ 51,900
Mangalore ₹ 519 ₹ 5,190 ₹ 51,900
Visakhapatnam ₹ 519 ₹ 5,190 ₹ 51,900
Nashik ₹ 519 ₹ 5,190 ₹ 51,900
Mysore ₹ 519 ₹ 5,190 ₹ 51,900

Silver Price in India for Last 10 Days

Date10 gram Silver Rate10 gram Silver Rate1kg Silver Rate
Jul 10,2020 ₹ 519 ₹ 5,190 ₹ 51,900
Jul 09,2020 ₹ 519 ₹ 5,190 ₹ 51,900
Jul 08,2020 ₹ 500.2 ₹ 5,002 ₹ 50,020
Jul 07,2020 ₹ 492 ₹ 4,920 ₹ 49,200
Jul 06,2020 ₹ 496 ₹ 4,960 ₹ 49,600
Jul 05,2020 ₹ 485.1 ₹ 4,851 ₹ 48,510
Jul 04,2020 ₹ 485 ₹ 4,850 ₹ 48,500
Jul 03,2020 ₹ 485.5 ₹ 4,855 ₹ 48,550
Jul 02,2020 ₹ 486 ₹ 4,860 ₹ 48,600
Jul 01,2020 ₹ 500.5 ₹ 5,005 ₹ 50,050
Jun 30,2020 ₹ 485.5 ₹ 4,855 ₹ 48,550
Gold Promotion

Historical Silver Price for Last 6 Months

Silver Price July 2020

Silver Price
1st July,2020Rs. 50,050
10th July,2020Rs. 51,900
Highest PriceRs. 51,900/- per Kg on 1st July,2020
Lowest PriceRs. 48,500/- per Kg on 1st July,2020
Over all performance
Percentage Change-3.56%

Silver Price June 2020

Silver Price
1st June,2020Rs. 50,150
30th June,2020Rs. 48,550
Highest PriceRs. 50,160/- per Kg on 1st June,2020
Lowest PriceRs. 47,100/- per Kg on 1st June,2020
Over all performance
Percentage Change3.19%

Silver Price May 2020

Silver Price
1st May,2020Rs. 410
31st May,2020Rs. 50,110
Highest PriceRs. 50,110/- per Kg on 1st May,2020
Lowest PriceRs. 410/- per Kg on 1st May,2020
Over all performance
Percentage Change-99.18%

Silver Price April 2020

Silver Price
1st April,2020Rs. 39,940
30th April,2020Rs. 42,520
Highest PriceRs. 42,700/- per Kg on 1st April,2020
Lowest PriceRs. 410/- per Kg on 1st April,2020
Over all performance
Percentage Change-6.04%

Silver Price March 2020

Silver Price
1st March,2020Rs. 48,500
31st March,2020Rs. 39,480
Highest PriceRs. 51,080/- per Kg on 1st March,2020
Lowest PriceRs. 39,480/- per Kg on 1st March,2020
Over all performance
Percentage Change17.66%

Silver Price February 2020

Silver Price
1st February,2020Rs. 49,990
29th February,2020Rs. 48,500
Highest PriceRs. 51,500/- per Kg on 1st February,2020
Lowest PriceRs. 480/- per Kg on 1st February,2020
Over all performance
Percentage Change2.89%

Silver Price January 2020

Silver Price
1st January,2020Rs. 49,350
31st January,2020Rs. 49,850
Highest PriceRs. 50,750/- per Kg on 1st January,2020
Lowest PriceRs. 490/- per Kg on 1st January,2020
Over all performance
Percentage Change-0.99%

Silver Price in India:

In India, Silver rate for 1 gram silver is ₹ 51.90, which is silver_loc_changeval_1g change in Yesterday Silver rate. 100 gram Silver Price in India is ₹ 5,190. The Exact 1 kg Silver price in India is ₹ 51,900. Frequently check this page to know the recent updates and change in silver price per kg.

Trend of Silver Price in India:

Silver is one of the most precious metals in India, valued both as a form of currency and store of value. In India, Silver Jewellery could be a issue of Beauty & Joy Forever. Like Gold, Silver is being considered as a reliable store of wealth and value for centuries. Even if there is decline in the value of paper money, Silver, the white metal may potentially hold their value better and carries the same reputation for reliability to this day. The art of predicting Silver prices in India is very closely connected to predicting gold prices.

Factors Affecting Silver Price per kg in India:

The key factors that affect the volatility of silver rate in India are fluctuating industrial demand and store of value demand, geo-political uncertainties, rising crude oil prices, depreciating dollar, government policies on major export and import destinations, sales by central banks, direction of gold prices and direction of other commodity prices. Many consider silver as a future substitute for investment in gold.

Silver Measurements:

Quantity of Silver is measured in troy weight and grams. In India, Silver is also available in troy ounces, million ounces, grams, kilograms, tonnes, short tonne, metric tonnes, tolas etc. Silver may also be measured in carats similar to how gold is measured.

Purity of Silver in India:

Silver purity is measured in Percentage (%). Usually copper is added to silver to produce more durable coins. The standard Silver Purity in India is 94.79%, thus , the alloy contains 94.79% pure silver and 5.21 percent copper or other metals. The sterling silver alloy is 92.5% pure silver and 7.5 percent copper or other metals.
There are few ways to determine the purity of the silver. For example, run a magnet over the silver jewellery, if the silver jewellery sticks, it means it is not pure. Also, you can check for stink test, sterling silver does not stink at all.

Things to note when buying Silver in India:

Before Buying Silver in India, you should check the Current Silver price in your location, provided in this page. It is recommended to buy Silver when the Silver price in India is low compared to last few days, the data of which is estimated in this page itself. Here, You can find the live Silver Rate in India available online, to plan and purchase your silver at the lowest price to attain more profit. You should note the Two important things before buying Silver in India:

  • Take into consideration the details of the overall craftsmanship, the intricacy of Silver Jewellery designs, the weight of the Silver Jewellery items and any marks, flaws or areas of tarnish.
  • Look for the hallmark .925, which indicates that the metal is genuine sterling silver. Authentic silver jewellery will have markings like “Sterling Silver”, “925”, “Ster” in secret places.
  • Check if anywhere it is mentioned that it has nickel plating. Nickel plating is harmful for skin.

When buying silver, it is recommended to prefer online Silver dealers, because online dealers may potentially offer significantly lower dealer premiums compared to brick and mortar coin and bullion shops. Online dealer silver rate in India can be quickly and conveniently compared from the comfort of your home or office. Through online Silver dealers, You can simply pick a few products you are interested in purchasing, and compare the silver price per kg between a few different dealers. In this Silver rate Comparison, Don’t forget to include any shipping or handling costs as well. Some dealers may offer highly discounted or even free shipping, while others don’t. The total cost of the purchase and any shipping or insurance fees should be factored in when comparing dealers. You can easily conclude the best dealer with reasonable silver price in India.

Pay by check or bank wire:

Many offline Silver dealers often offer one price for bank wire or check and a higher Silver price for credit or debit card payments for your Silver purchase. The fact behind that is the dealer incurs a processing fee from the card provider. On purchasing Silver, to get the best possible Silver price in India, stick with bank wires or checks.

How to buy Silver in India?

The most important thing to keep in mind while buying any kind of silver in India is to check the live silver market rate i.e., live silver prices in India. Silver bars can be purchased from banks and big jewelers, as they are typically kept for serious investors. These bars typically range from 500 gm to 1kg.

Futures exchange:

For a serious Silver investor, it is one of the best option to buy silver in the Futures Exchange market. There are also several charges associated with trading in the futures market, including brokerage, stamp duty and various other charges that any silver buyer would have to bear.

Silver ETF:

In India, there is no silver ETF (Exchange Traded Fund) currently with the closure of the National Spot Exchange. However, there is an option for trading in Silver ETFs listed in the US market. Investors looking to trade in the silver ETFs listed on the US market need to open an account with a stock broker who offers a platform for investing in international stock markets.

  • Keep the following points in mind before buying Silver in India:
  • Closely Research silver rates in India and in your particular Location
  • Decide what kind of silver you want to buy - silver bars, silver coins, or silver jewelry.
  • Ensure certification i.e., check for BIS Hallmark during your silver purchase
  • Careful about buying only from trusted certified sellers

Buying Silver from banks In India:

Buying silver from any Indian bank may give you the satisfaction about the purity of silver as a bank is more reputable than the jeweller next door, but it also means that you have to pay much more. HDFC Bank was the first bank in the country to sell physical silver in India. Thus, Purchasing silver from a bank is a relatively safer option, as the bullion comes with a certificate of quality and is guaranteed by the bank and an external agency.

BIS Hallmarked Silver Price in India:

Buying silver from any Indian bank may give you the satisfaction about the purity of silver as a bank is more reputable than the jeweller next door, but it also means that you have to pay much more. HDFC Bank was the first bank in the country to sell physical silver in India. Thus, Purchasing silver from a bank is a relatively safer option, as the bullion comes with a certificate of quality and is guaranteed by the bank and an external agency.Hallmarking is a process that officially records and determines the metal content in gold/silver articles. It’s used as a seal of guarantee that assures purity, which is accepted in various countries. In India, BIS (Bureau of Indian Standards) is the national Standards body of India who authenticates the purity of Silver in India. FX Global Metal Corporation is the India’s first company to offer 999 BIS Hallmarked Silver Coins.

BIS has launched the hallmarking scheme for silver in December 2005 under IS 2112. A hallmarked silver article will contain the following:

  • A BIS Mark on the surface of the article
  • A purity grade (ranging from 999.9 to 999 for fine silver and For silver alloys, silver Jewellery and silver artifacts, silver purity grade is 970, 925, 900, 835, 800).


Grade

Fineness
9999
Fine Silver
999.9
9995
Fine Silver
999.5
999
Fine Silver
999.0
990
Silver alloys for jewellery artefacts
990.0
970
Silver alloys for jewellery artefacts
970.0
925
Silver alloys for jewellery artefacts
925.0
900
Silver alloys for jewellery artefacts
900.0
835
Silver alloys for jewellery artefacts
835.0
800
Silver alloys for jewellery artefacts
800.0


  • Assaying/Hallmarking Centre’s Identification Mark/Number
  • Jeweller’s identification mark
  • Year of marking - denoted by a code letter (e.g.‘R’ for year 2013)

Silver buyers should look for the above four signs while buying silver or silver jewellery in India.

Why Silver Price in India cheaper when compared to Gold?

Throughout the modern era, silver has been considered cheaper as compared to gold. A majority of silver is used for industrial purposes. One of the primary reasons that make cheaper silver rate in india is its lesser demand across the country. The higher demand means the higher silver price and vice-versa.

Forms of Silver in India:

Silver is available in multiple forms including bullion bars, rounds, coins and collectible coins. Among these forms of Silver, Bullion bars are the least expensive for refiners to produce.

Taxes on Current Silver Price in India:

In India, “Silver” is also called as the “poor man’s gold”. Every Silver buyer will be charged VAT (value Added tax) on their Silver bullion purchase at the time of Silver purchase in India. If one have bought silver bullion above Rs. 5 lakh in cash, he will be required to pay tax of 1% at source (at the time of Silver purchase). 1% Wealth tax is payable if the net taxable wealth of your Silver exceeds Rs.30 lakh for the financial year. Silver that is given as a gift is tax free in India. But one must keep a record of the gift that he have received to avoid confusion with the Income Tax (IT) Department.

From 1st July, 2017, after implementation of GST (Goods and Services Tax) across India, Gold jewellery, silver and processed diamonds will also be taxed at 3 percent.

Importance of Checking Silver Price in India:

It is very important to check Silver Rate in India, before buying silver in online or any retail shop, because even a little variation in silver price can lead to a big loss. The price of silver is very high when compared to that of last 10 years. Therefore it is important to check frequently the live silver prices in India at this page and to compare current silver rate with each jeweller before buying silver in India. The larger and the more reputed jewellers in India may charge more for making charges for your silver purchase. If you realize that the making charges of silver is significantly high in one jewellery shop, then you should look at the other jeweller, where you would get a decent Silver rate. In this page, You can discover the correct accurate Silver rate in India.


Silver Rate in India - FAQ

Q1. What are the factors that influence silver rates?

Silver rates are influenced by some of the factors namely supply and demand, US dollar, industrial demand and other international factors. When there is an increase or decrease in the demand for silver, the silver rates also fluctuate. This is because the supply of silver is limited but the demand for the same is constant. In the same way, the silver rates fluctuate when there is a change in the value of US dollars. Silver being used as ornaments, coins, etc but many do not know that silver is also used in industries for producing batteries, superconductors, microcircuits,etc. This also plays a major role in influencing silver rates.

Q2. What are the forms of silver investment?

Different forms of silver investment are listed below:

Silver coins

Silver bars

Silver jewellery

Silver wares

Silver lamps

Gift articles made of silver


Q3. How to buy silver?

While one decides to purchase silver, then he or she must decide upon what form of the metal to be invested. They can invest in silver coins or bars and ornaments. The purest form of silver is sterling silver and it contains 92.5% of the silver metal. To check the quality of silver, one should look for the silver stamping as .925 or 925. Silver coins contain 90% of the metal. The buyer should check for the stamping in the silver while purchasing silver. People can also invest in silver bullions online by registering in the websites that sell silver. It is advisable to go for the trusted brands and the ones with the certification.

Q4. What are the uses of silver?

In the jewellery industry, gold is considered and more preferred by the people. But when we consider the electrical industry and few other industries, silver is considered as a very important metal. Apart from jewellery, silver is used for many other purposes which are as follows.

Silver is described as the anti infective medicine and it is used in the urology department to prevent UTI.

Silver is used in the department of radiology.u00a0

Silver is used for dental alloys.

It is used to prepare surgical needles, sutures, etc.

Silver is used in colour film photography.

Silver is used in making mirrors because of its reflective properties.


Q5. Where can the silver bars be purchased in India?

The silver bars can be purchased from jewellers, public sector banks and private sector banks. Buying silver from banks has an added advantage, that is it comes with the certificate of quality assurance. Also it is considered as the safe mode of purchasing silver.


Q6. Why should we buy silver?

Every investor would wonder if the silver is a good investment and also people would compare the silver investment with that of gold. But to say, silver has its own value and reasons to be invested upon. Some of the reasons why one should invest in silver are listed below.

Silver is considered as real money. It is helpful for prolonged usage.u00a0

Silver is a hard asset which can be carried along with us and it is safe when compared to other digital assets.

Silver is cheap when compared to gold. So anyone can purchase silver.

Silver is also helpful for being sold quickly when in need.

Silver performs well in the bull markets.

Silver for industrial purposes is growing.

Demand for silver is increasing globally.


Q7. Why is the silver price low?

Silver prices are low when compared to other metals like gold. This is because the market of silver is small and the demand for silver lies with the industrial use and saving at home purposes.u00a0


Q8. Will silver lose its value?

Silver and gold does not lose its value much. This always has a steady rise in value. Also silver has wonderful benefits, and so the demand for it is always in an increasing trend.


Q9. Why is silver considered so special?

Unlike other metals, silver is considered so special because of its wonderful benefits. Silver has the ability to kill bacteria, algae and fungi. This is the reason, many people use silver wares for children and also it helps to purify and filter water. It has high electrical and thermal conductivity of any metal. Also it is used in the hospital operating rooms in the form of surgical equipment.


Q10. How can you check if the silver is pure through any test?

One can easily identify if the silver you hold is pure or a plated one. All you need is a few drops ofu00a0 nitric acid. Drop a few drops of nitric acid on silver. The silver is pure if that area turns into creamy white.

Q11. Does silver react with gold?

Most metals react with each other and produce chemicals. But surprisingly, silver does not react with gold, but it interacts with gold to form strong metallic bonds. Thus does not have any chemical interactions in the atmosphere.

Q12. Which is the purest form of silver?

Sterling silver is the purest form of silver containing 99.9% silver. Experts call sterling silver as fine silver.

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