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Silver is an excellent investment option to prepare for inflation and secure financial growth. Moreover, it is a precious metal accessible at a lower cost than its counterpart – gold. This makes silver more attractive to investors of all groups. 


However, knowing the current silver price in Madhya Pradesh is crucial before investing. This is because the rate of silver fluctuates daily due to numerous factors. And given that the price affects your investment value, knowing it beforehand is essential.


Read on to know the silver rate today in Madhya Pradesh and the factors that impact it. 

Silver Price Per Gram in Madhya Pradesh

 Here is today's silver price in Madhya Pradesh for various quantities: 

Quantity of Silver (in grams)

Silver Price in Madhya Pradesh







1000 (1 kg)


Disclaimer: The above details mentioned are as of June 2023, and are subject to change.

Silver Rate in Madhya Pradesh for Last 10 Days

Analysing the silver rate today in Madhya Pradesh against that of previous days can help you assess the trend. Here is an overview of the silver price in Madhya Pradesh for the last 10 days. 


1 Gram Silver Price in Madhya Pradesh

10 Grams Silver Price in Madhya Pradesh

100 Grams Silver Price in Madhya Pradesh

1 KG Silver Price in Madhya Pradesh



















































Disclaimer: The above silver rates are as of June 2023. 

Factors Impacting Silver Rates in Madhya Pradesh

Knowing the factors that affect the silver rate today in Madhya Pradesh and other areas enables you to make informed decisions. This knowledge helps you understand when to enter or exit the market and maximise your returns. 


To that end, here are a few key factors that affect the rate of silver in Madhya Pradesh. 

  • Demand and Supply Ratio 

Demand and supply are ever-present factors causing price fluctuations for various commodities, including silver. For example, when silver is high in demand and low in supply, the prices rise. 


Contrastingly, when the supply of silver is higher than the demand, the price will decrease. Moreover, silver has a limited supply which is insufficient against the rising demand. As such, the silver price in Madhya Pradesh and other areas has continuously risen. 


The demand for silver has been on the rise for various reasons. This includes the fact that it is a multipurpose metal used in medicines, mirrors, batteries, motor vehicles, and more. Economic factors, such as inflation and monetary policies, also affect the demand for white metal.

  • Change in Price of Other Commodities 

Few commodities are interlinked in a way that the price of one affects the price of the other. With regards to silver, crude oil and gold are commodities that influence its price. Crude oil is important for mining; with increased prices, mining cost increases and vice-versa. 


Since the mining costs get added to the price of silver, any change in it directly impacts the price of silver. This means that if mining costs increase, silver prices will also increase and decrease if the mining costs decrease.


Gold is a precious metal, just like silver. Therefore, the factors influencing the silver price in Madhya Pradesh and other areas also affect the price of gold. However, gold is more valuable and hence more popular. As such, the price of gold fluctuates first, and the silver price follows.

  • Applied Tax Policies on Silver Import and Production

Currently, there is a 3% GST and 10% customs tax on the import and sale of silver ornaments, coins, and bricks. If new policies and tax rates increase, you may have to pay more for the same volume of silver. This is because these taxes get added to the silver cost and therefore have a direct impact on the prices. 

  • Position of the US Dollar

Since silver trade happens in USD, its position in the global market impacts the price of silver. If USD is weak, buying silver is cheaper and attracts more investors. The opposite holds true if USD is strong. This impacts the demand, affecting the silver price in Madhya Pradesh and other areas. 

  • Geopolitical Events 

A number of geopolitical events like war, international relationships, trade routes, and elections can change the price of silver. The price of silver and other commodities depends on the relationship between the exporting country and India. Better relationships with silver exporting countries can therefore reduce the silver rate in Madhya Pradesh. 

  • Increasing Demand for Silver and Scrap Volume 

A large amount of silver is currently circulating in the form of scarps and recyclable material. These are important reserves when the demand is high, and the deposit is low on the stored silver. 


Therefore, industries can rely on these scraps to fulfil the need for silver in emerging requirements. This affects the supply-demand balance and, therefore, the silver price in Madhya Pradesh and other areas.

  • Interest Rates 

Interest-linked investments, like FDs, MFs, and stocks, perform well in the rates are high, thereby attracting more investors. However, when the rates go, the return does too, which pushes investors towards alternatives like silver. This affects the silver price in Madhya Pradesh and other areas.


Investors lean towards silver because it is a long-term appreciating asset, giving good returns in the long run. However, it is better to diversify your profile by investing in a variety of assets and options. This helps mitigate the risk and protect your investment.

  • New Technological Invention or Discovery

Silver has very high conductivity; therefore, it is preferred in the production of any technology. With any new inversion or technological development, the demand for silver can increase. This can directly affect the silver rate today in Madhya Pradesh and other parts of the country. 


While it helps to understand these factors before you invest in silver, there is more to it. For one, no single factor can influence the price alone. Sometimes, it takes a combination of factors to disrupt the market, and only then will you know the actual rate of silver. So, time the market appropriately, whether you’re looking to buy or sell your silver for profit.

FAQs on Silver Rate in Madhya Pradesh

The silver price in Madhya Pradesh and other parts of India changes daily depending on factors such as inflation, tax, geopolitical events, impost and sales price. 

Investing in silver is easy and convenient. To make maximum profit, the best time to purchase silver is when the prices are at the lowest and selling at a higher rate.

When purchasing silver, 3% of GST and 5% of making charges apply to the silver price today in Madhya Pradesh and other areas. These charges apply to jewellery, coins, bars or all other types of silver. 

When it comes to purchasing silver, the restriction is on the silver jewellery you can hold. If the registered valuer’s report shows that the value of silver jewellery is above ₹5 Lakhs, you will have to submit Form O-8A. If the value surpasses ₹5 Lakhs, you will have to submit form O-8.

The final selling silver price in Madhya Pradesh and other areas depends on the jeweller or dealer, so you can negotiate it and choose one that offers the best price. 

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