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Silver in Indore is considered highly auspicious, people in Indore prefer to use silverware anc gift it to their loved ones. 


Additionally, silver, like gold, remains a good investment avenue for many. As silver rates depend on market changes, you need to know about silver rates today in Indore.

Silver Price in Indore

The following table provides silver prices today in Indore:

Weight

Silver Rate Today 

Silver Rate Yesterday

Price Difference

1 g

₹ 74.50

₹ 74.70

- ₹ 0.20

10 g

₹ 745

₹ 747

- ₹ 2

100 g

₹ 7,450

₹ 7,470

- ₹ 20

1 kg

₹ 74,500

₹ 74,700

- ₹ 200

*Disclaimer: The rates mentioned above are subject to change as per market conditions

Silver Rate in Indore in the Last 10 Days

The following table represents the silver rate in Indore in the last 10 days:

Date

1 g

10 g

100 g

1 kg

Mar 06, 2024

₹ 74.50

₹ 745.00

₹ 7,450.00

₹ 74,500.00

Mar 05, 2024

₹ 74.70

₹ 747.00

₹ 7,470.00

₹ 74,700.00

Mar 04, 2024

₹ 73.60

₹ 736.00

₹ 7,360.00

₹ 73,600.00

Mar 03, 2024

₹ 73.60

₹ 736.00

₹ 7,360.00

₹ 73,600.00

Mar 02, 2024

₹ 75.00

₹ 750.00

₹ 7,500.00

₹ 75,000.00

Mar 01, 2024

₹ 74.50

₹ 745.00

₹ 7,450.00

₹ 74,500.00

Feb 29, 2024

₹ 74.20

₹ 742.00

₹ 7,420.00

₹ 74,200.00

Feb 28, 2024

₹ 73.90

₹ 739.00

₹ 7,390.00

₹ 73,900.00

Feb 27, 2024

₹ 74.00

₹ 740.00

₹ 7,400.00

₹ 74,000.00

Feb 26, 2024

₹ 74.50

₹ 745.00

₹ 7,450.00

₹ 74,500.00

*Disclaimer: The aforementioned rates are subject to change as per market conditions

Factors that Affect Silver Rates in Indore

Here are some factors that influence the rate of silver in Indore:

  • Inflation also impacts silver prices in Indore as higher rates may lead to higher demand and increased price

  • As India imports silver to meet a major portion of demand, the appreciation of Indian currency against the US Dollar can also influence prices 

  • Since RBI maintains silver reserves, the central bank’s changing policies affect the price of silver in Indore

  • People tend to invest in silver when the interest rates on traditional investment instruments decline, leading to the rise in price

  • GST also impacts silver prices in Indore

FAQs

How is the purity of the silver evaluated in Indore?

The current silver rates in Indore depend on the purity of the metal. You can evaluate its purity by checking for a BIS hallmark that contains the bureau’s logo, purity level, and reference ID.

What is the GST rate on the purchase of silver?

Along with other factors, taxation impacts the silver rate in Indore. The GST rate on the purchase of silver is 3%.

Is silver a good investment option in Indore?

Experts believe that diversification is an essential part of a good investment opportunity. You can add silver to diversify your investment portfolio as it hedges risk and market volatility.

How can I invest in silver in Indore?

You can invest in silver in physical form through jewellery retail stores in Indore. Alternatively, you can trade in Silver Exchange-Traded Funds (ETFs) and e-silver through National Spot Exchange Limited (NSEL).

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