Silver Rate Today in Pune
as on 22 Feb '26
1 kg
₹2,70,594.00
(+5.40%)
100 gm
₹27,059.40
(+5.40%)
10 gm
₹270.59
(+5.40%)
1 gm
10 gm
100 gm
1 kg
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Pune, often hailed as the Oxford of the East and the cultural capital of Maharashtra, has a deep-rooted historical and economic connection to silver. From the old-age silver craftsmanship of the Peshwa era to the new-age industrial need in the city's huge IT and automobile sectors, silver continues to be an important asset. Understanding the dynamics of the silver market in Pune is important to make informed purchasing decisions.
The silver rate in Pune keeps changing every day and is impacted by the trends in the international market. The silver price in Pune is given in terms of per gram or per kilogram, and the rates are constantly changing to show the impact of the trends in the different parts of the world and the Indian market.
The proximity of Pune to Mumbai, which is the main hub for the trading of bullion in India, ensures that the prices are transmitted effectively, and the silver rates in Pune are quite competitive.
Current silver prices in Pune (as of ):
- 1 kilogram silver: ₹0
- 100 gram silver: ₹0
- 1 gram silver: ₹NaN
A combination of global and domestic factors determines silver prices in Pune:
- Industrial demand: Unlike gold, silver is an important industrial raw material. Pune's position as a major manufacturing centre for automobiles and technology generates localised demand for silver industrial use in EV batteries, electrical contacts and electronics.
- Global commodity markets: Movements on the global exchanges like the COMEX and LBMA have a significant impact on domestic silver prices.
- Inflation and geopolitics: Ongoing global uncertainties, including the conflict in Ukraine and high global inflation, drive investors to shift their capital to silver as a hedge.
- USD-INR exchange rate: Silver is imported in India, and any devaluation of the Indian Rupee to the US Dollar directly raises landed cost in Pune.
- US Federal Reserve interest rate: Monetary and interest rate changes have a major effect on precious metals prices. Lower interest rates support higher silver prices because the opportunity cost of holding non-yielding assets is lowered.
- Monsoon performance: Rural demand from its surrounding agricultural belts of Maharashtra often spikes after a good harvest season, driving local silver prices up.
The spot prices in Pune are determined by:
- International benchmarks: Based on LBMA and COMEX silver spot prices.
- Currency conversion: Converting the USD-denominated silver price into INR based on current exchange rates.
- Import duties: Including the 6% import duty (as per the latest government norms).
- Local premiums: Bullion dealers in Pune adjust prices keeping in mind regional supply-demand and the cost of logistics from Mumbai.
When buying silver in Pune, buyers pay more than the spot price of silver. A silver spot rate is the rate at which silver is currently trading for the buying and selling of silver for immediate delivery and payment. The retail prices are always higher than the spot prices, as the retail prices include several other costs like making charges, dealer margins, logistics, insurance, hallmark fees, etc.
Taxation on silver in Pune follows uniform national tax rules. No additional state tax other than GST applies to the buying of silver in Pune, making silver's pricing structure transparent and competitive with other states.
On purchases of physical silver:
When buying physical silver (jewellery, coins, bars, utensils or decorative items) in Pune, the following taxes and charges apply:
- GST on the value of silver: 3%.
- GST on making charges: ~5%. This tax is collected on the making charges.
- Import duty: 6% (already in the spot price).
- Making charges: Differ with designs and jewellers. The making charges for traditional Maharashtrian jewellery are 10-40% of the silver value.
- Hallmarking charges: 35/- per article with a minimum of 150/- per consignment as per BIS guidelines for physical purchases of silver.
On the sale of silver investments (physical, ETFs, mutual funds, digital silver):
When buyers and investors sell silver instruments, capital gains tax is applicable based on the holding period. The tax treatment is different for various investment vehicles:
For physical silver, digital silver, and mutual funds:
- STCG: For silver investments that are held for less than 24 months, STCG is taxed at the individual's applicable income tax slab rate.
- LTCG: For silver investments held for 24 months or longer, LTCG is taxed at a flat rate of 12.5%.
For silver ETFs:
- STCG: For holding periods shorter than 12 months, the gains are added to the total income and are taxed at individual income tax slab rates.
- LTCG: For more than 12 months, taxed at 12.5%.
Pune is one of the major silver-consuming cities of Maharashtra. The city's unique demographic profile and cultural landscape lead to unique consumption patterns. Key consumption drivers are:
- Cultural and traditional significance: Silver has a rich cultural significance in Maharashtrian traditions. Traditional Pune families buy silver for weddings and religious items.
- Investment culture: Apart from ornamental use, Pune's educated population has been increasingly recognising silver as an investment asset class.
- Industrial consumption: The auto manufacturing belt of the city (Chakan and Pimpri-Chinchwad) and IT infrastructure drives substantial demand for silver.
- Affluent demographics: The booming IT sector of Pune and the rising upper middle class have a strong purchasing power for both silver jewellery and investment products.
Here are some critical factors that must be considered while purchasing physical silver in Pune.
- Look for the BIS logo: Seek the BIS logo, purity grade (e.g. 999 or 925), Jeweller ID, assaying centre mark and the HUID (Hallmark Unique Identification) number for genuine silver items assurance.
- Detailed invoice: The bill must clearly mention the metal price, making charges, weight, and GST.
- Weight verification: Make sure that the jeweller verifies the weight of the item in your presence using a calibrated digital scale.
- Fake German Silver: Be aware of buying German Silver in place of real silver. German Silver is an alloy of copper, zinc and nickel, with 0% silver, but it looks like silver.
- Buyback policy: Clearly understand the jeweller's terms for exchange or cash back in the future.
- Verbal claims: Always insist that all claims are recorded in writing. Verbal assurances do not have any legal status and cannot provide you with any protection in the event of disputes.
- Unclear making charges: Hidden/Excessive fabrication costs with no breakdown.
Silver prices differ in various cities across India; the variations are marginal. The small difference in final retail price is because of additional pricing due to retailer profit margins, making charges and local operational costs. Maharashtra state's unified structure of GST without any additional state-level taxes ensures that Pune offers competitive silver prices with other metropolitan markets across India.
People buy silver according to cultural norms and auspicious timings in the Hindu calendar. Some of the most auspicious days include:
- Gudi Padwa: The Marathi New Year is considered one of the most auspicious days in Pune to make important purchases, including silver.
- Akshaya Tritiya: Silver purchases on this day are traditionally believed to increase wealth.
- Dhanteras: Falling on two days before Diwali, Dhanteras is dedicated to Goddess Lakshmi and is considered to be an auspicious day for buying precious metals.
- Diwali: The festival of lights sees heavy purchasing of silver gifts, religious items and silver as investment assets.
- Pushya Nakshatra: These auspicious days in the Hindu lunar calendar are traditionally favoured for silver purchases.
- Varalakshmi Vratam: This festival is primarily celebrated in Maharashtra, and during this festival, families buy silver articles for use in pujas (worship) and traditional ceremonies.
- Post-festival periods: Silver prices occasionally soften in the weeks after major festivals when demand normalises, providing buying opportunities.
- Off-season months: During these months, silver prices are more stable due to lower demand.
- Global market corrections: Monitoring the variations in global commodities markets can be identified when silver prices are decreasing because of some temporary factor that brings in attractive entry points for buyers.
In case of fraud or misrepresentation or defects in quality or other unfair trade practices in regard to the purchased silver, the buyers are entitled to protection for the purchased silver under comprehensive legal frameworks in Pune. Buyers can make complaints to:
- BIS grievance portal: For complaints of hallmarking and purity fraud.
- Consumer disputes redressal commission: Pune has a separate District Commission for redressal of complaints relating to defective silver goods or services.
- National Consumer Helpline (NCH): Call 1915 for immediate advice.
- Legal Metrology Department: File complaints about faulty weighing scales or discrepancies in weight measurements.
Before purchasing silver in Pune, buyers should carefully consider several important factors to make sure they are getting authentic products. These factors include verifying the current silver rate on reliable platforms, ensuring that the item is BIS hallmarked, comparing the making charges of multiple jewellers and understanding the buyback policy of the store.
The highest recorded price for 1 kg of silver in Pune reached ₹0 on , following a massive surge in January.
As of , the silver rate in Pune is ₹ per gram for pure silver (999 purity). This is the spot rate, representing the base price of silver metal before any additional charges or costs.
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- Step 2: Add funds to your account.
- Step 3: Choose the Silver investment option.
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- Silver futures/options
- Step 4: Place the order.
- Step 5: Monitor and manage the Investment
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