SILVER PRICE TODAY IN INDIA

Silver rate in India is tracked by millions on a daily basis. The precious metal is used not just as jewellery; in fact, it has uses in everything from medical devices to industrial applications. Moreover, just like gold, buying silver jewellery or silver coins is also considered auspicious.

The prices of silver are tracked on the Multi Commodity Exchange (MCX) for future expiry dates, while the spot silver rate marginally differs across multiple cities in India.

Silver price in India today:

Know the price of the Silver in your city today. The rates fluctuate every day, tracking global cues and spot rates.

From geopolitical issues to supply-demand factors during peak season, international markets, and volatility across the commodity segment, there are numerous factors responsible for silver prices across locations.


Daily Silver rates revision in India.

The rates are decided based on 10 GM, 100 GM, or 1 KG of silver. Rates of gold, inflation, technology, and electronic trends, among others, guide the daily revision of silver prices in India.


Various Taxes that Impact Silver Prices in India:

Goods and Services Tax (GST) is applicable while buying silver in India. Making charges are also included while buying silver jewellery. Capital gains tax is also applicable on it.

SILVER PRICE FAQS

What is the maximum amount of silver one can own in India?

In India, there is no specific legal limit on the amount of silver one can own.

Does India Import Silver from Abroad Countries?

Yes, India imports silver from other countries, with nearly half of this year's imports coming from the United Arab Emirates. India imposes a 15% import duty on silver.

Is investing in silver a smarter choice?

Yes, investing in silver can be a smart decision due to its stability, demand in industries, and potential for diversifying an investment portfolio.

Is it good to invest in silver this year?

Considering the recent market trend, silver is recovering from its recent lows over the past few years. Therefore, it appears to be a good time to invest in silver.

Do I need to pay taxes when I buy silver?

Yes, when you buy silver, you need to pay a GST rate of 3.00%.

Which silver is pure?

Fine silver is the purest form of silver, consisting of 99.9% silver. Sterling silver, on the other hand, is an alloy composed of 92.5% silver and 7.5% copper.

When is the right time to buy silver?

The best time to purchase silver is generally after January, as silver tends to appreciate throughout the year. It's advisable to consider buying silver around March or from late June to July.

What is the Colour of real silver?

Real silver has a gray-white metallic color.

Is silver coin a good investment?

Investing in silver coins can offer good returns in the long run. They are a convenient form of silver investment, easy to handle and store.

What is the best silver coin to buy?

Some of the best silver coins for investment include the American Silver Eagle, Morgan Silver Dollar, Silver Dimes, Silver Quarter, Austrian Silver Philharmonic, Silver Britannia, Silver Canadian Maple Leaf, and Silver American Eagle.

Are silver coins 100% silver?

Silver coins are not 100% pure silver but contain high-purity silver, like .999 fine silver (99.9% pure), often alloyed with small amounts of other metals for durability.

Is it safe to buy silver coins?

Yes, buying silver coins can be safe as they are widely recognized and valued for their intrinsic precious metal content.

Do banks sell silver coins?

Yes, banks do sell silver and other precious metals.

What is India's position in global silver consumption?

In 2023, India's demand for silver exceeded 2,600 metric tons.

Which day is lucky to buy silver?

Thursdays, linked with the auspicious planet Jupiter, are often recommended for purchasing silver due to their perceived luckiness.

Can silver coin be gifted?

Yes, you can gift silver in the form of coins and jewelry.

How Do You Know If Your Silver is Real?

To test whether your silver is real, look for hallmarks. Another method is to perform a magnetic test: if a magnet sticks to the silver, it's real; if it doesn't, it's not real.

Can we buy silver on Akshaya Tritiya?

Yes, purchasing silver items such as utensils, jewelry, or coins on Akshaya Tritiya is believed to bring wealth and positive energy.

What are the advantages of wearing silver?

Wearing silver jewelry may offer health benefits such as antimicrobial properties that prevent infections and a calming effect that promotes emotional stability and reduces inflammation.

Can I buy silver on Saturday?

You can purchase silver on Mondays, Wednesdays, and Thursdays.

In which finger we should wear silver?

Silver rings are commonly worn on the middle or little finger of the right hand. Additionally, some recommend wearing silver on the index finger.

Which Graha is silver associated with?

Although the Moon is often connected with silver, Mercury is the planet most closely associated with it.

How can I test silver?

To verify the authenticity of silver, check for hallmarks. Alternatively, you can use a magnet: genuine silver will attract it, while fake silver won't.

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