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Silver Rate Today in India (13 Nov '26)
as on 13 Nov '26
1 kg
₹1,82,004.00
(0.00%)
100 gm
₹18,200.40
(0.00%)
10 gm
₹1,820.04
(0.00%)
Today's Silver Rate in India
The silver rate today in India (November 13, 2026) is ₹1,82,004 for 1 kg, ₹18,200 for 100 gms, and ₹1,820 for 10 gms.
Jewellery prices are usually higher than these rates because jewellers add 3% GST, making charges and their own markup.
If you want to buy Silver without jewellery markup, you can use Gold Vault by Dhan. You buy 999 purity Silver at live MCX rates with zero markup, it is stored safely in an insured vault, and you get it delivered to your home whenever you want. You can check the delivery cost for your location using our Gold Vault shipping rate calculator.
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Things to Know About Silver Market in India
Silver has been a part of Indian culture and economy for millennia, where it has been used both as a precious metal for ornaments and as a valuable investment asset. India is one of the biggest consumers of silver in the world, and its silver demand is being driven by jewellery, industrial applications and investment purposes.
Understanding silver prices and their fluctuations, as well as different investments, is a must for traditional buyers and modern investors. Here is the overview of the silver rate in India.
Silver's history in India goes back to ancient times, with evidence from archaeological sites dating back to the Indus Valley Civilisation. Excavations in Harappan sites have found silver ornaments, utensils, and decorative pieces, indicating that silver was a precious metal even during the prehistoric period in India.
Ancient Indian texts like the Vedas mention silver by its Sanskrit name 'Rajata'. The silver metal was used extensively for making coins, vessels and jewellery during various Indian dynasties. The silver punch-marked coins were issued by the Mauryan Empire, and the silver drachmas were introduced by the Indo-Greek kingdoms, which circulated widely in northern India.
During the Mughal period, silver was an important currency in the Indian system. The rupee, a silver coin introduced by Sher Shah Suri, became the standard coin. The British colonial period continued to use silver in coinage until the mid of the 20th century.
Post-independence, India's silver market developed significantly. Economic liberalisation in 1991 opened up silver imports and linked the silver trade in India with the rest of the world. According to the World Silver Survey, the demand for silver in India has been consistently increasing, making it one of the top consumers of silver in the world, with demand spread across industrial, jewellery and investment sectors.
Silver is often referred to as the hybrid metal because of its unique position between being both a monetary asset (like gold) and an industrial commodity (like copper). Its worth is based on this dual nature:
- Strategic asset: In the modern economy, silver is more than a precious metal; it is a critical strategic asset. It is one of the most electrically conductive materials and is irreplaceable in the transition journey to the modern green economy.
- Store of value: Similar to gold, silver historically maintains its purchasing power over long periods, serving both as a hedge against inflation and currency.
- Accessibility: Often referred to as the poor man's gold, silver is significantly more affordable than gold, making it accessible to small retail investors in India who want to gain exposure to the precious metals market.
- Cultural significance: In India, silver anklets and vessels are known as Stridhan (wealth of women), which ensures financial security to women in emergencies.
While gold is often stored in vaults and jewellery boxes, silver is consumed for industrial purposes. Approximately 50% of the total global silver mined is used in industrial applications. Some industrial uses of Silver are:
- Solar energy (Photovoltaics): This is the largest industrial driver of silver use. Silver is used in solar panels to conduct electricity. With the global shift to renewable energy, the demand for silver in the solar industry has skyrocketed.
- Electric vehicles (EVs): An average EV vehicle consumes nearly twice as much silver as an internal combustion engine (ICE). It is used in battery packs, electrical contacts, and the complicated electronics that manage the vehicle.
- Electronics & 5G: Almost every computer, mobile phone, and 5G tower contains silver, as it is the best conductor of electricity and also does not corrode easily.
- Medical applications: Silver is a potent antimicrobial agent. Thus, it is used in wound dressings, creams, and as coatings for surgical instruments to prevent infections.
- Brazing & soldering: Silver alloys are used in joining metal pipes, air conditioning parts and refrigeration.
There is often confusion among buyers regarding the terminology used for silver purity versus gold. Karat is used for Gold, not Silver. The term Karat (e.g. 22K, 24K) represents Gold purity only. Silver purity is not represented in karats. Silver purity is measured in fineness or percentage. It is a measure of the parts of pure silver per 1,000 parts of the alloy.
- Fine silver (999) - This is the purist form of commercially available silver, as it is 99.9% pure silver. Also known as three nines fine, it is extremely soft and malleable and is thus unsuitable for everyday jewellery but best suited for physical investment products such as coins and bars.
- Britannia silver (958) - Britannia silver has a purity of 95.8% pure silver and 4.2% as a mixture of other metals, usually copper. Historically, Britannia silver was important in an attempt to stop silversmiths from melting down sterling silver coins. It is less common in India, but some premium pieces of silver may use this standard.
- Sterling silver (925) - Sterling silver is the most common standard of silver used for making jewellery and decorative objects. It contains 92.5% of pure silver and 7.5% other metals (usually copper). The addition of copper makes it more durable and harder, which makes it practical for everyday wear. Most of the silver jewellery sold all over the world, including India, is made according to this standard.
- Coin silver (900) - Coin silver is 90% pure silver and was used in the making of coins. While less common today for jewellery, some pieces of vintage jewellery still follow this purity standard.
- German silver (0%) - Despite its name, German silver contains no actual silver. It's an alloy of copper, nickel and zinc that looks like silver. German silver is not true silver and should not be confused with pure silver products.
Hallmarking is used to ensure the authenticity and purity of silver products. In India, the Bureau of Indian Standards (BIS) is responsible for the hallmarking of precious metals such as silver. A BIS hallmark on silver items certifies the claimed purity and provides traceability. The hallmark includes:
- BIS logo: Shows certification by the Bureau of Indian Standards.
- Purity/Fineness number: Indicates the silver content (i.e., 925 for sterling silver, 999 for fine silver).
- Assaying and hallmarking centre mark: Identifies the centre that tested and certified the item.
- Jeweller's identification mark: A code on an item that uniquely identifies the manufacturer or the seller.
- HUID (Hallmark unique identification): Six-digit alphanumeric code for digital traceability.
Silver prices in India are affected by many global factors because India imports silver to fulfil its silver needs. Understanding these factors helps investors anticipate future silver price movements:
- US dollar strength: Since silver is traded globally in US dollars, the strength of the dollar has an inverse effect on silver prices. A stronger dollar causes silver to be more costly to those who purchase it with other currencies, which can lead to a decrease in demand and vice versa.
- Industrial demand: Unlike gold, silver has significant industrial uses. Economic growth, especially in the manufacturing, electronics and renewable energy sectors, has a direct impact on silver demand.
- Interest rates: Changes in interest rates, particularly by the US Federal Reserve, have a significant impact on silver prices. Higher rates of interest make holding non-yielding assets such as silver more costly and can lead to a decline in silver demand. Lower rates make silver more attractive as an investment option.
- Mining supply: Silver production from mines has a direct impact on global silver supply. Disruptions in key silver-producing nations, new mining regulations, or exhaustion of existing mines are reducing silver supply and driving up silver prices.
- Gold-silver ratio: The historical relationship between gold and silver prices is useful for investors to determine relative value. When the ratio of gold to silver is high (i.e., when the price of gold is high compared to the price of silver), investors perceive silver as undervalued and buy more silver.
- Geopolitical events: Political instability, trade tensions, or conflicts can push investors towards safe-haven assets such as silver, driving up the demand and price of silver during economic uncertainty.
- Solar energy growth: The growing solar panel industry has a significant impact on silver demand because each solar panel requires 15-20 grams of silver. Growing renewable energy adoption is driving up industrial silver consumption.
Silver tends to exhibit counter-cyclical behaviour relative to equity markets. During periods of stock market volatility, investors turn to safe-haven assets, which drives up silver prices. Conversely, when equity markets perform well, some investors sell their silver investments, potentially lowering silver prices. However, this relationship isn't absolute, as silver's large industrial uses can sometimes be correlated with positive equity markets during economic expansion phases.
Since India is a net importer of silver, the USD/INR exchange rate directly affects the domestic price of silver. When the value of the Indian Rupee falls against the US Dollar, silver imports become more expensive, which implies higher domestic prices and vice versa.
For investors looking to gain exposure to silver without the hassles of physical storage, there exist several investment options for market participants.
- Silver ETFs (Exchange Traded Funds): Silver ETFs are professionally managed funds that invest in silver-related assets. These ETFs are listed and traded on stock exchanges like the NSE and BSE. They have high liquidity, thus they can be bought and sold easily during trading hours, just like stocks.
- Silver mutual funds: These mutual fund schemes invest in different Silver ETFs and provide indirect exposure to silver. They offer professional management and are suitable for investors who prefer systematic approaches to investment.
- Digital silver: There are several companies that offer digital silver in partnership with reputed entities to buy and sell silver in small sizes. Digital silver offers the opportunity to buy in fractional grams with no physical storage. These silver investments are backed up by the actual physical holdings of silver in secure vaults.
- Silver futures and options: Traded on commodity exchanges such as the Multi-Commodity Exchange (MCX). Silver Futures and options are available to market participants to take positions on the future price of silver. These require an understanding of leverage and carry higher risk with attractive opportunities for hedging and speculation.
Investing in silver via financial instruments has several advantages over holding physical silver:
Additional benefits:
- Tax efficiency: Financial instruments like Silver ETFs are more tax-efficient in the long term.
- Diversification: Provides diversification to portfolios with core holdings in stocks and bonds.
- No wastage: Physical silver jewellery has wastage during making, which is not recovered in sales.
- Convenience: Can be easily bought and sold through demat accounts.
In Indian culture, the buying of silver on auspicious occasions is said to bring prosperity and good fortune. Favourable days for buying silver are:
- Dhanteras: As per the Hindu tradition, silver is bought on this day to bring wealth and prosperity. Silver coins, utensils and jewellery are often purchased on Dhanteras.
- Akshaya Tritiya: This is an auspicious day of the Hindu calendar and is considered good for making investments in silver.
- Diwali: Many investors buy silver coins or jewellery on the occasion of Diwali as a part of the Lakshmi Puja celebrations. Indian stock exchanges also have a special Muhurat trading session on this day.
- Pushya Nakshatra: This is an auspicious stellar constellation, and it occurs several times a year, making it auspicious to buy precious metals. When the Pushya Nakshatra falls on Thursday (Guru Pushya Amrit Yoga), then it is considered extremely auspicious to buy silver.
- Ugadi and Gudi Padwa: These festivals are the New Year celebrations celebrated in different parts of the country and are supposed to be new beginnings in the Hindu religion. This is considered to be an auspicious time to invest in silver for good fortune for the whole year.
- Navratri: The nine-day festival of Goddess Durga is considered auspicious for making big purchases (including silver).
The best time to buy silver really depends on market trends, economic indicators and an individual's investment goals. Historically, silver prices can be volatile over the short term but appreciated in the long term. Investors often look for periods of market downtrends or reduced demand to purchase silver at better prices.
Monitoring global economic conditions, US Dollar strength and interest rate changes may help identify potential buying opportunities. While the auspicious days do have a cultural and emotional value, they may not necessarily have the lowest silver prices.
Festivals have a large influence on the demand and silver price in India and contribute to a predictable seasonal behaviour in the silver market.
- Demand surge: The major festivals such as Dhanteras, Diwali, Akshaya Tritiya, etc., cause a huge surge in the silver price.
- Price impact: The increase in demand for silver items due to festivals and the shortage of silver production leads to an increase in the price of silver.
- Wedding season: India's wedding season brings in large sales of silver jewellery. Gifting of silver items in weddings is a part of Indian tradition, and this leads to an increase in demand for silver ornaments in wedding months.
- Cultural purchases: Apart from jewellery, festivals are a significant factor in purchases of silver idols, puja articles and decorative articles for religious ceremonies, which contribute to the aggregate demand for silver.
Some interesting facts about silver are:
- Best reflector: Polished silver reflects 95% of the visible light spectrum, thus silver is used as a coating in high-quality mirrors, telescopes and microscopes.
- Born with a Silver spoon: This phrase is not just about wealth; it is also about health. Historically, wealthy families would feed their babies with silver spoons because of the self-sanitising (antibacterial) properties of silver. It would kill germs in the food, which would keep the child healthier.
- India is the biggest Importer: While Mexico and Peru are the biggest producers of silver, India is the biggest importer and consumer of silver.
- Cloud Seeding: Silver Iodide is the compound used to make artificial rain (cloud seeding) in dry regions.
- More volatile than gold: The silver prices are known to be 2-3 times more volatile than gold. In a bullish market, silver often outperforms gold in percentage terms, but it also crashes harder than gold in a bearish market.
FAQs
Investors can buy silver ETFs and silver mutual funds directly from the Dhan platform. These instruments provide exposure to silver investments without physically having to possess the metal. On the Dhan platform, search for silver ETFs or mutual funds and invest with your Demat account.
People purchase silver for many reasons, including as an investment, a hedge, cultural and religious importance, industrial use, affordability and financial security.
The purity of the silver can be checked by looking at the sign of Hallmark on the silver items. The hallmark sign is assigned by the Bureau of Indian Standards (BIS), and includes the BIS logo, purity level and a unique HUID number, which are used as an assurance of genuine silver goods.
No, the price of silver is not uniform throughout the world. While global supply and demand factors determine an international benchmark price (usually quoted in USD), local factors result in variations in domestic silver prices. These include import duties and taxes, currency exchange rates, local supply and demand dynamics, making charges and transportation costs.
As of January 2026, it is estimated that there are about 6,41,400 metric tons of silver reserves in the world. However, the actual amount of physical, above-ground silver is much less than this because a significant portion of this silver is consumed in industrial applications or is lost in making jewellery.
The U.S. Geological Survey (USGS) expects there are an estimated 530,000 metric tons of silver reserves still in the ground that are currently economical to mine. Beyond proven reserves, there are still other resources of silver that may become economically feasible with advances in technology or increases in the price of silver.
According to the annual World Silver Survey 2025, the top five silver-producing countries are:
- Mexico: Approximately 202.2 Million Ounces (24%)
- China: Approximately 109.3 Million Ounces (13%)
- Peru: Approximately 107.1 Million Ounces (13%)
- Chile: Approximately 52 Million Ounces (6%)
- Bolivia: Approximately 42.6 Million Ounces (5%)
India has approximately 8,000 metric tons (8 million kilograms) of silver reserves. It is the 11th largest holder of silver reserves in the world. As one of the largest consumers of silver in the world, India is heavily import-dependent to meet its needs for silver.
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