Silver Price Today in India - Live Sterling & Fine Silver Rates (November 2025)

The current silver price in India stands at ₹164.05 per gram for Sterling silver (92.5%) and ₹177.18 per gram for Fine silver (99.9%) as of November 19, 2025. Silver prices in India are updated hourly based on international spot prices from the London Bullion Market Association (LBMA) and MCX (Multi Commodity Exchange) Mumbai rates. Whether you're buying sterling silver jewelry, investing in fine silver coins and bars, or trading silver futures, understanding today's silver rates across different Indian cities is essential for making informed financial decisions.

This comprehensive guide provides live silver prices for 22 major Indian cities, explains why prices vary between locations, and offers insights into factors affecting silver rates today. We'll also help you understand the difference between Sterling (92.5%), Fine (99.9%), and Coin silver (90%) and provide practical tips on calculating the total cost of silver jewelry including making charges, wastage, and GST.

Silver Rate Today in Top 10 Indian Cities

Silver prices remain relatively uniform across Indian cities since silver, unlike gold, has minimal state-specific pricing variations. Transportation costs and local dealer margins create minor differences:

Note: Silver prices are updated hourly based on MCX Mumbai rates and international LBMA spot prices. For live prices with our FREE Silver Calculator, visit our Silver Price Tool.

Understanding Sterling, Fine, and Coin Silver Purity in India

Silver jewelry and investment products in India come in different purity grades. Understanding these categories helps you make better purchasing decisions.

Sterling Silver (92.5% Pure) - Most Popular for Jewelry

Current Price: ₹164.05 per gram
Purity: 92.5% silver + 7.5% other metals (copper, nickel)
Common Uses: Traditional jewelry, temple silverware, branded items, gift articles
Characteristics: Perfect balance of purity and durability. The 7.5% alloy makes it strong enough for intricate designs popular in Indian jewelry. Marked with "925" or "92.5" hallmark. Most common purity for silver anklets, bangles, and toe rings.

Fine Silver (99.9% Pure) - Investment Grade

Current Price: ₹177.18 per gram
Purity: 99.9% pure silver
Common Uses: Investment coins, bars, MCX futures delivery, bank certificates
Characteristics: Highest purity and maximum resale value. Too soft for daily-wear jewelry but preferred by investors. Accepted by banks and pawn shops at full value. Hallmarked "999" or "99.9".

Coin Silver (90% Pure)

Current Price: ₹160.00 per gram (approximate)
Purity: 90% silver + 10% other metals
Common Uses: Older silverware, some traditional ornaments, antique pieces
Characteristics: Less common in modern India. More durable than sterling but lower silver content. Sometimes found in heritage jewelry pieces.

Price Comparison Per 10 Grams:

• Fine Silver (99.9%): ₹1,771.80 per 10g
• Sterling Silver (92.5%): ₹1,640.50 per 10g
• Coin Silver (90%): ₹1,600 per 10g

Silver Price Movement in India - Last 7 Days

Silver prices have shown moderate stability over the past week, closely tracking MCX Mumbai futures and international COMEX rates:

Weekly Analysis: Silver prices have remained relatively stable with the weekly average for Fine silver at ₹177.09 per gram and Sterling at ₹164.01 per gram. Current prices are marginally above the 7-day moving average.

MCX Silver Price Today - Mumbai Commodity Exchange

The Multi Commodity Exchange (MCX) in Mumbai is India's primary silver trading platform. MCX silver futures serve as the national benchmark for silver prices.

Today's MCX Silver Rate: ₹177.18 per gram (spot price for Fine silver)
MCX Silver Futures (near month): ₹95,410 per kg
Trading Volume: Active trading with high liquidity
Lot Size: 30 kg (minimum tradeable unit)
Last Updated: November 19, 2025, 10:30 AM IST

How MCX Rate Converts to Retail Price

Why is Silver Import Duty 0% in India? The Indian government removed import duty on silver in 2024 to support the growing solar panel manufacturing industry, which consumes significant silver. This makes Indian silver prices very competitive globally.

Why Silver Prices Change Daily in India

Silver is more volatile than gold due to its dual role as an industrial metal and investment asset. Here are the key factors affecting Indian silver prices:

International Factors

1. LBMA London Spot Price
The London Bullion Market Association sets the global silver benchmark. Currently trading around $32-33 per troy ounce internationally, LBMA prices directly influence Indian MCX rates.

2. USD-INR Exchange Rate
Silver is priced globally in US dollars. When the rupee weakens against the dollar, silver becomes more expensive in India even if international prices are flat. A 1% rupee depreciation typically increases silver prices by ₹1.75-2 per gram.

3. COMEX Silver Futures
The New York COMEX exchange is the world's largest silver trading venue. MCX Mumbai tracks COMEX prices with an average lag of 15-30 minutes during trading hours.

Domestic Factors

1. Industrial Demand Growth
India's electronics manufacturing, solar panel production, and pharmaceutical sectors consume increasing amounts of silver. Government's push for renewable energy and "Make in India" electronics has boosted industrial silver demand by 22% YoY.

2. Festive and Wedding Season
Silver jewelry demand spikes during:

• Dhanteras & Diwali: October/November - highest silver buying period
• Akshaya Tritiya: April/May - auspicious for precious metals
• Wedding Season: November-February - silver gifts and jewelry

3. Monsoon and Harvest Cycles
Rural silver demand peaks post-harvest (March-April, October-November) when farmers have surplus income. Rural India accounts for 35-40% of silver jewelry purchases.

Total Cost of Buying Silver Jewelry in India

When purchasing silver jewelry from Indian jewelers, the final bill includes multiple components:

Understanding Each Cost Component

1. Making Charges (₹10-50 per gram)

• Simple designs: ₹10-15/gram (plain bangles, basic chains)
• Medium complexity: ₹20-30/gram (carved anklets, designed toe rings)
• Intricate work: ₹35-50/gram (temple jewelry, filigree work)

2. Wastage Charges (3-8%)
Silver lost during melting, casting, and polishing. Many modern jewelers include wastage in making charges. Always clarify this before purchasing.

3. GST (Goods and Services Tax)
India levies:

• 3% GST on silver value (base price + wastage)
• 5% GST on making charges

Silver Investment Options in India

Indian investors have multiple ways to invest in silver beyond physical jewelry:

1. Physical Silver (Coins, Bars, Jewelry)

999 Purity Silver Coins
Price: ₹177.18/gram + ₹10-20/coin making charge
Weights Available: 10g, 20g, 50g, 100g
Pros: Physical ownership, bank-acceptable, highly liquid, no Demat needed
Cons: Storage and security concerns, making charges
Best For: Traditional investors, gifting purposes, portfolio diversification

Silver Bars (99.9% Pure)
Price: ₹177.18/gram + minimal premium
Sizes: 100g, 250g, 500g, 1kg
Pros: Lowest premium per gram, bank locker storage, pure investment
Cons: Less divisible, requires authentication for resale
Best For: Serious investors, large positions

2. MCX Silver Futures

Lot Size: 30 kg (minimum contract)
Margin Required: ₹50,000-70,000 per lot
Leverage: Control ₹5.3 lakh worth of silver with ₹60,000 margin
Pros: High leverage, no physical delivery needed (cash settlement), intraday trading
Cons: High risk, requires active monitoring, daily mark-to-market losses possible
Best For: Experienced traders, hedging purposes

3. Silver ETFs (Exchange Traded Funds)

Popular Silver ETFs in India:

• SBI Silver ETF: Expense ratio 0.75%, tracks silver prices
• ICICI Prudential Silver ETF: Expense ratio 1%, backed by physical silver
• Axis Silver ETF: Expense ratio 0.83%, liquid trading

Pros: No storage hassles, Demat convenience, SIP possible, easy buy/sell
Cons: Annual fees (0.75-1%), no physical ownership, market hours trading only
Tax: Short-term gains taxed as per income slab, long-term gains at 20% with indexation
Best For: Modern investors, SIP investors, portfolio diversification

4. Silver Mutual Funds

Available Funds: ABSL Silver ETF Fund of Fund, Nippon India Silver ETF FoF
Minimum Investment: ₹500 (lump sum), ₹100 (SIP)
Pros: No Demat account needed, SIP convenience, professional management
Cons: Higher expense ratio (1-1.5%), indirect silver exposure
Best For: First-time investors without Demat accounts

Is Today a Good Day to Buy Silver in India?

Current Market Assessment (November 19, 2025):

Price Trend: Marginally increasing (+0.10%)
Weekly Position: Slightly above weekly average
Gold-to-Silver Ratio: 71:1 (favorable - historical average is 75:1)
MCX Sentiment: Mildly bullish with open interest buildup
Recommendation: FAVORABLE - Silver is fairly priced with modest upside potential from industrial demand.

Best Times to Buy Silver in India

1. During Summer Months (June-August) - Jewelry demand softens post-wedding season, creating buying opportunities
2. When Gold-Silver Ratio Exceeds 75:1 - Indicates silver is cheap relative to gold
3. Post-Diwali Correction - Prices often dip in December-January after festive peak
4. During Rupee Strength - When INR appreciates against USD, silver becomes cheaper
5. MCX Price Dips Below ₹90,000/kg - Strong support level for futures

Where to Buy Silver in India - Trusted Sources

1. Tanishq (Titan Silver)
Purity: 92.5% certified
Making Charges: ₹25-40/gram
Locations: Pan-India presence, 400+ stores
Reliability: BIS hallmark guaranteed

2. PC Jeweller
Purity: 92.5% and 99.9% options
Making Charges: ₹20-35/gram
Locations: North India focus
Special: Low making charge offers

3. Online - Amazon/Flipkart (Coins & Bars)
Purity: 99.9% certified by MMTC-PAMP, BIS
Premium: ₹15-25 per gram over spot
Pros: Home delivery, easy returns
Cons: Verify seller authenticity

4. Banks (SBI, ICICI, HDFC)
Products: 99.9% silver coins only
Premium: ₹20-30 per gram
Pros: Maximum trust, buyback facility
Cons: Limited designs, higher premiums

Conclusion: Silver Investment Strategy for Indian Investors

Silver offers unique advantages in the Indian context at current prices of ₹164.05/gram (Sterling) and ₹177.18/gram (Fine):

• Affordability: 1/70th the price of gold, accessible to all income levels
• Industrial Demand: India's solar panel and electronics growth supports prices
• No Import Duty: 0% import duty makes Indian silver competitive globally
• Cultural Acceptance: Traditional role in gifting and auspicious occasions
• Inflation Hedge: Preserves purchasing power during currency depreciation

Recommended Portfolio Allocation: Financial advisors suggest 5-10% of total investment portfolio in precious metals, with 20-30% in silver and 70-80% in gold for Indian investors.

For real-time silver prices, jewelry calculators, and MCX silver futures tracking, visit MarketsHost Silver Price Tracker. Updated hourly with live MCX data.