City-wise Silver Price Snapshot
Delhi
- Today, per gram silver is quoted at ₹ 168 (increasing by ~₹ 6 over yesterday) and ₹ 1,68,000 for 1 kg.
- For 10 g: approx ₹ 1,680. For 100 g: approx ₹ 16,800.
- Trend: Prices have been rising. For example, on 1 Nov Silver in Delhi was ~₹ 1,52,000/kg; today it’s ~₹ 1,68,000/kg — a rise of ~10.5 % so far this month.
Mumbai
- Today, the silver rate is also around ₹ 168 per gram and ~₹ 1,68,000 per kg.
- For 10 g: ~₹ 1,680. 100 g: ~₹ 16,800.
- Trend: Similar to Delhi, prices are up in November; 1 Nov rate ~₹ 1,52,000/kg; today ~₹ 1,68,000/kg (rise ~10.5 %).
Kolkata
- According to one source, the 1 kg rate is ~₹ 1,68,000.
- Earlier in the month similar rising trends were noted.
What’s Driving the Silver Rates?
Several factors are influencing these price movements:
- Global silver prices & futures: India’s local silver rates are heavily influenced by international silver prices, and also by the USD/INR exchange rate.
- Rupee depreciation: If the rupee weakens against the dollar, imported metals like silver cost more in INR, pushing domestic prices up.
- Domestic demand and supply: India has robust demand for silver in jewellery, investment, utensils, etc., which influences sentiment and premiums. For example, festival seasons often boost demand.
- Historical trend: From earlier months to now, rates have been rising steadily. For example in Delhi from ~₹ 99,900/kg in June to ~₹ 1,68,000/kg now.
Key Considerations for Buyers / Investors
- Timing matters: If you’re buying for jewellery or investment, buying when rates dip slightly or before expected demand surges (festival or wedding season) may help.
- City-to-city variation: Although rates are similar across major metros today, local premiums, taxes, purity and making charges can vary, so always check the local dealer’s rate.
- Purity & grade: Rates often quoted are for standard purity (e.g., 999 fine). Lower purity items cost less but also carry less intrinsic metal value.
- Investment vs usage: Are you buying for use (jewellery/ornaments) or purely as investment (coins/bars)? If for investment, consider storage, authenticity, buy-sell spreads.
- Global cues & currency watch: Keep an eye on international silver price movements and the rupee exchange rate. Shifts can affect local prices quickly.
- Taxation & charges: In India, making charges, GST, and other local levies add to the cost of silver jewellery/ornaments—less so if buying bullion/bars.
Summary
- Today’s silver rate in Delhi & Mumbai is approx ₹ 168 per gram or ₹ 1,68,000 per kg.
- Kolkata shows similar levels (~₹ 1,68,000/kg) per available data.
- The price has risen ~10 % from the start of the month in major metros.
- The rise is driven by global metal price trends + currency movement + domestic demand.