Silver Price India Today (Chandi Rate)
Live silver price in INR — per gram, per tola. XAG/USD converted to Indian Rupee. Multi-city India rates. Updated every minute.
India Silver Price by Weight — INR (Live)
| Weight | INR (Live) | USD (ref) |
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India Silver Market — One of the World's Largest
India is the world's largest silver importer by volume, absorbing hundreds of millions of ounces annually. This demand comes from three distinct pillars:
- Jewelry and silverware: India has a deep tradition of silver jewellery, particularly in Rajasthan, Uttar Pradesh, and Odisha. Silver anklets, bangles, and decorative items are central to traditional dress. Jaipur is the largest silver jewellery manufacturing and trading hub in India, followed by Ahmedabad.
- Industrial demand: India's rapidly expanding solar power sector consumes silver in photovoltaic cells. The electronics manufacturing sector (growing under the PLI scheme) also drives industrial silver consumption. Silver's unique electrical conductivity makes it irreplaceable in many industrial applications.
- Investment: Silver coins and bars are popular investment gifts, especially during Diwali and Dhanteras — considered auspicious days to purchase precious metals. Silver coins featuring deities or the Ashoka Chakra are sold at banks, jewellers, and e-commerce platforms across India.
- Key exchange: The MCX (Multi Commodity Exchange) in Mumbai trades silver futures — the primary price discovery mechanism for institutional and large retail buyers in India.
MCX Silver Price vs International Spot
India's MCX quotes silver in INR per kg. The MCX price reflects the international XAG/USD spot price translated to INR, plus India-specific costs:
- Import duty: India levies 10–15% customs duty on silver imports, making domestic silver prices structurally higher than the international spot equivalent.
- GST: 3% GST applies to silver jewellery, bars, and coins in India.
- Exchange rate: The USD/INR rate directly drives the INR silver price. A weakening Rupee amplifies silver price rises in INR terms even when XAG/USD is flat.
- Festival premiums: During Dhanteras and Diwali, physical silver demand spikes sharply in India, creating seasonal premiums over spot at retail level.
The live price shown on this page is the pure international spot equivalent in INR — before import duty and GST. Retail purchase prices at jewellers will be higher by 13–18%.
Silver Price per Tola in India
1 tola = 11.664 grams — a traditional South Asian weight unit with roots in the Mughal era. The tola was the standard unit of the Indian rupee coin before metrication. Today, it remains widely used in North India's silver and gold markets, particularly in Rajasthan, Punjab, and UP.
The live tola price is shown in the weight table above. Note that the international troy ounce (31.1035g) is approximately 2.67 tolas. Dealers in traditional markets quote both tola and gram prices — always confirm which unit is being quoted.