Want to buy silver? Here's everything you need to know about the silver prices over the decades, how to invest, and what the taxation rules are
Silver has always had a steady place in Indian households, second only to gold, but no less significant. Its importance goes beyond mainstream traditions. From family heirlooms and temple offerings to large-scale industrial use, silver continues to hold value across different sections of society and industry.
The metal plays a key role in sectors like electronics, photovoltaic cells, and medical equipment, all of which could influence the current silver price. A mix of global markets, industrial demand, and cultural buying trends shapes the price of silver in India.
In this article, we’ll discuss the past prices and current shifts, how to invest in silver in India, and the tax rules to consider before buying the metal.
Apart from the base rate, the final silver price is also based on taxes, purity, and often additional charges (especially for coins or ornaments). It is calculated using the formula:
Final silver price = (Silver price per gram X Purchase volume X Purity) + 3% GST + Making charges (if applicable)