--- title: Silver Rate Calculator url: https://dhan.co/calculators/silver-rate-calculator/ page_type: calculator last_updated: 2026-11-12 --- # Silver Rate Calculator The silver rate you see quoted daily is just the base metal price - it doesn't include making charges or 3% GST charged on the total. Enter the weight and making charge percentage to see your real cost breakdown before you buy. ## What is a Silver Rate Calculator? A silver rate calculator is a tool that computes the actual cost of buying physical silver by factoring in today's market price, making charges, and applicable GST, not just the silver rate you see in the news or on exchange screens. The number published daily as "today's silver rate" is only the price of the base metal. But when you buy silver jewellery or bullion, the total price you pay includes several additional costs. A silver rate calculator helps to calculate the total price you pay while buying physical silver. The Dhan Silver Rate Calculator covers 50+ cities across India and lets you adjust the weight (10g to 1,000g), making charge percentage, and the GST toggle so you can compare different scenarios in real time. ## How to Use this Calculator You can use this silver rate calculator through the following steps: ### Step 1: Select your city Choose the city where you are buying. Silver rates vary slightly across different cities in India because of transport costs and regional market pricing. The silver rate calculator pulls today's live silver rate for your selected city automatically. ### Step 2: Enter weight and making charges Use the quantity slider to enter the weight of silver in grams you are planning to buy. Then input the making charge percentage your jeweller or bullion dealer has quoted. Making charges for physical silver purchase typically range from 3% to 20% depending on the product you buy. ### Step 3: Toggle GST and get total price Switch GST to yes to see the final cost including GST. The silver rate calculator, along with the total price, also breaks it down into base price, making charges, and GST. ## What are Making Charges for Silver? Making charges are the fees a jeweller or silversmith levies for converting raw silver into finished jewellery or silverware. Making charges cover design, craftsmanship, labour, and material wastage during production. These are always charged separately from the base silver rate. Making charges for silver are often quoted on a percentage basis, which is computed as a percentage of the silver's base value. Making charges are non-refundable when you sell silver jewellery back. If your goal is investment rather than jewellery, coins, bars, or [Silver ETFs](https://dhan.co/etf/traded-funds/silver-etfs/) offer a significantly better value-to-cost ratio. ## How GST Applies to Your Silver Purchase Under India's Goods and Services Tax (GST) framework, purchasing physical silver items involves two separate tax components: one on the value of the silver metal itself and another on the job work/making charges. - GST on Silver Value: 3% - GST on Making Charges: 5% Let’s break down the total price you pay when buying silver items. Suppose you buy 100 grams of silver jewellery at ₹234/gram with 10% making charges: - Base silver value = ₹23,410 - Making charges (10%) = ₹2,341 - GST on silver (3%) = ₹702.3 - GST on making charges (5%) = ₹117.05 - Total you pay = ₹26,570 So, of the ₹26,570 total silver price you pay, only ₹23,410 is for the silver value, while the remaining ₹819 covers additional costs like making charges and GST. ## What Affects Today's Silver Rate? Silver prices in India do not move in isolation; they are influenced by a combination of global and domestic demand drivers: - **Global spot price:** Silver is priced globally in US dollars per troy ounce. If the global silver price changes, the domestic prices also follow the same trend, as India imports the majority of its silver. - **Industrial demand:** Silver has a unique dual role as both a monetary metal and an industrial commodity. Over the years, the industrial demand for silver has grown exponentially, which often pushes silver prices independently of gold. - **INR/USD exchange rate:** India imports the bulk of its silver requirements. Globally, silver is priced in dollars, and the rupee-dollar exchange rate therefore affects the domestic silver price in India. - **Gold-to-silver ratio:** The gold-to-silver ratio tracks how many ounces of silver it takes to buy one ounce of gold. A high gold-to-silver ratio is historically seen as silver being undervalued relative to gold, which can trigger increased investment demand for silver and support its price. - **Investment and safe-haven demand:** Like gold, silver is also viewed as a safe-haven metal in times of market uncertainty, which often leads to increased silver investment during these times and impacts silver prices. ## How to Invest in Silver with Dhan? Buying physical silver comes with drawbacks like storage space, tarnishing, high making charges, resale purity discounts, and a 3% upfront GST. Modern investors can gain silver price exposure through Dhan by investing in the following instruments: ### Silver ETFs Silver Exchange Traded Funds (ETFs) track domestic physical silver prices. They trade on the NSE and BSE during market hours just like equities. On Dhan, you can invest in Silver ETFs with zero brokerage on delivery trades, holding the units securely inside your Demat account without storage risks or making charges. ### Silver Mutual Funds [Silver Fund of Funds (FoF)](https://dhan.co/mutual-funds/mf-to-invest/silver-mutual-funds/) invests directly in underlying Silver ETFs, providing hassle-free exposure at the end-of-day Net Asset Value (NAV). You can set up automated monthly Systematic Investment Plans (SIPs) in silver mutual funds on Dhan with zero commission, starting with as little as ₹100. ### Dhan Gold Vault Dhan [Gold Vault](https://dhan.co/gold-vault/) allows you to purchase silver futures contracts at live MCX market prices. After contract expiry, your holdings are stored safely in insured, SEBI-regulated professional vaults, with the option to request doorstep delivery of physical bars whenever required. ### Silver Futures & Options on MCX On Dhan, active traders can gain leveraged exposure to silver price movements through the Multi Commodity Exchange (MCX) silver derivatives contracts. These contracts are available in four lot sizes: - SILVER (Standard): 30 kg lot - SILVERM (Mini): 5 kg lot - SILVERMIC (Micro): 1 kg lot - SILVER100: 100 grams lot ## Frequently Asked Questions ### Does the current silver price in the calculator include making charges and GST? The [current silver price](https://dhan.co/silver-rates/) shown is today's live market price per gram for your selected city. It does not include making charges or GST. Use the making charges slider and GST toggle to calculate the total price you will pay when buying physical silver. The calculator also displays each cost component separately so you know exactly what you are paying for. ### Why are silver prices different in different cities? Silver rates vary across Indian cities due to transportation costs from primary import ports, local transit insurance, making charges and the specific daily benchmark rates decided by regional jeweller associations. ### What is the purity of silver used in jewellery sold in India? Most silver jewellery sold in India is 925 sterling silver, meaning 92.5% pure silver with 7.5% copper or other metals added for durability. Investment-grade coins and bars are typically 999 fine silver (99.9% pure). Before buying physical silver, buyers should always ask for the purity grade in writing when buying, as it directly impacts the metal's resale value. ### How is GST calculated on a silver purchase? GST on silver is applied in two separate components: 3% on the base silver value and 5% on the making charges. The Dhan Silver Rate Calculator computes both costs at once to show the total GST applicable on your purchase. ### How is the silver rate different from the gold rate in India? Gold and silver are both precious metals but are priced differently in Indian markets. Physical silver is currently available at about ₹234 per gram in Delhi, while gold is available at about ₹15,114 per gram, which makes silver about 64 times cheaper per gram as of September 25, 2026. Silver's dual nature makes it much more volatile than gold.