Silver prices in India fluctuate based on global bullion trends, currency movements, and local demand. Retail rates may also vary slightly across cities due to factors such as transportation costs, dealer margins, and local taxes.
The white metal’s prices in India remained stable on Sunday, March 15, with retail rates for Silver 999 Fine, Silver 925 Sterling, and Silver 900 Coin seeing minimal price movements. However, silver witnessed volatility in the last few weeks due to developments surrounding the conflict between the US, Israel and Iran.
Silver is typically sold in different purity grades, with 999, 925, 900 being the most commonly quoted in the retail market. While 999 silver represents the highest purity and is mainly used for bullion, 925 silver is widely used in jewellery, utensils, and decorative items. Meanwhile 900 silver is most commonly known as “coin silver”.
Here’s a look at latest silver prices across major cities including Mumbai, Delhi, and Bengaluru.
Silver prices in Mumbai — 15 March
Silver 999 Fine rate in Mumbai — ₹259,220/1 kg.
Silver 925 Sterling rate in Mumbai — ₹239,779/1 kg.
Silver 900 Coin rate in Mumbai — ₹233,298/1 kg.
Silver prices in New Delhi — 15 March
Silver 999 Fine rate in New Delhi — ₹258,770/1 kg.
Silver 925 Sterling rate in New Delhi — ₹239,362/1 kg.
Silver 900 Coin rate in New Delhi — ₹232,893/1 kg.
Silver prices in Bengaluru — 15 March
Silver 999 Fine rate in Bengaluru — ₹259,420/1 kg.
Silver 925 Sterling rate in Bengaluru — ₹239,964/1 kg.
Silver 900 Coin rate in Bengaluru — ₹233,478/1 kg.
Silver prices in Kolkata — 15 March
Silver 999 Fine rate in Kolkata — ₹258,870/1 kg.
Silver 925 Sterling rate in Kolkata — ₹239,455/1 kg.
Silver 900 Coin rate in Kolkata — ₹232,983/1 kg.
Silver prices in Ahmedabad — 15 March
Silver 999 Fine rate in Ahmedabad — ₹259,560/1 kg.
Silver 925 Sterling rate in Ahmedabad — ₹240,093/1 kg.
Silver 900 Coin rate in Ahmedabad — ₹233,604/1 kg
Silver prices in Chennai — 15 March
Silver 999 Fine rate in Chennai — ₹259,970/1 kg
Silver 925 Sterling rate in Chennai — ₹240,472/1 kg.
Silver 900 Coin rate in Chennai — ₹233,973/1 kg.
What does the “grade of silver” actually mean?
The grade of silver refers to how much pure silver is present in an item. Because pure silver is naturally soft, it is usually mixed with small amounts of other metals, most commonly copper, to improve the item’s strength and durability.
Silver purity is measured in parts per thousand. Marks such as 999 or 925 indicate how much of the metal is genuine silver. The higher the number, the purer the silver.
How can you check silver purity before buying?
The first step to check an item’s purity is visual inspection. Reputable silver items usually carry purity stamps such as 999, 925 or 800, often hidden on the underside or clasp.
Many pieces also include:
— Hallmarks like “925” (sterling) or “999” (fine silver)
— Assayer’s marks, indicating certification
— Maker’s marks, identifying the manufacturer
— Date codes, which help trace origin and quality
In case these small indicators are missing, buyers should inspect further and be cautious while purchasing such an item.
A few simple habits can prevent costly mistakes, such as always checking for purity stamps before making a purchase, and asking for certification if available.
One can also compare weight and price logically to ensure the silver’s quality. Most importantly, one should buy silver only from trusted sellers.
Are there simple home tests for silver?
While laboratory testing is the most accurate way of determining a silver item’s purity, a few quick checks can also help at home:
— Magnet test: Real silver is not magnetic. If it sticks, it likely contains iron or nickel.
— Ice test: Silver conducts heat extremely well. Ice placed on real silver melts faster than on most metals.
— Tarnish test: Genuine silver oxidises over time. Wiping it may leave dark marks on a cloth.
However, for absolute certainty, jewellers can perform acid tests, density checks or XRF analysis.
