What taxes apply to silver in India?
Silver imports in India attract a basic customs duty of 10% plus GST at 3%. These charges make Indian silver prices noticeably higher than global spot rates when comparing directly.
Silver Price in Mumbai Today
Silver Spot Price · Mumbai
₹8,249.88INR
= $89.43 USD
+0.00
+0.00%
Updated: ● Live FX rate1 USD = 92.2454 INR
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Interactive Silver Chart
Silver Price Performance
| Period | Change (USD) | Change (%) |
|---|---|---|
| Today | +$0.00 | +0.00% |
| 30 Days | +$3.40 | +3.80% |
| 6 Months | $-1.88 | -2.10% |
| 1 Year | +$19.14 | +21.40% |
| 5 Years | +$57.42 | +64.20% |
| 20 Years | +$279.57 | +312.60% |
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Silver Spot Price – Today
Intraday XAG/USD spot price (USD per troy ounce)
Silver Price Chart (TradingView)
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Interactive Silver Chart
Silver Price per Unit
Updated: Mar 10, 2026, 09:13 PM| Unit | Price (INR) | Price (USD) | Change |
|---|---|---|---|
| 1 Troy Ounce | ₹8,249.88 | $89.43 | +0.00% |
| 1 Gram | ₹265.24 | $2.88 | +0.00% |
| 1 Tola (11.66 g) | ₹3,093.75 | $33.54 | +0.00% |
| 1 Kilogram | ₹265,239.37 | $2,875.37 | +0.00% |
| 10 Ounces | ₹82,498.79 | $894.34 | +0.00% |
| 100 Ounces | ₹824,987.87 | $8,943.40 | +0.00% |
24-Hour Silver Price by Market Session
Shaded bands show active trading sessions (UTC)
Sydney
Tokyo
London
New York
Annual Silver Price Performance by Currency
Annual % returns for XAG in major currencies (approximate)
| Year | INR | USD | GBP | EUR | AED | AUD | CAD | SGD | JPY |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | +11.2% | +12.0% | +10.5% | +9.8% | +12.0% | +15.2% | +16.1% | +8.4% | +18.3% |
| 2024 | +22.8% | +21.4% | +24.8% | +25.1% | +21.4% | +25.6% | +26.9% | +19.2% | +38.4% |
| 2023 | +2.1% | +0.4% | +3.1% | -2.3% | +0.4% | +4.8% | +2.2% | -1.4% | +9.6% |
| 2022 | +5.4% | -3.5% | +10.8% | +11.3% | -3.5% | +1.4% | -1.2% | -7.1% | +14.2% |
| 2021 | -9.1% | -11.7% | -17.2% | -16.9% | -11.7% | -9.8% | -14.3% | -13.2% | -12.4% |
| 2020 | +46.8% | +47.9% | +41.6% | +38.4% | +47.9% | +42.1% | +46.2% | +41.3% | +34.2% |
| 2019 | +21.4% | +15.3% | +20.4% | +14.8% | +15.3% | +22.6% | +18.7% | +12.8% | +10.1% |
| 2018 | +2.8% | -8.5% | -3.8% | -6.2% | -8.5% | -1.3% | -4.2% | -11.4% | -9.6% |
| 2017 | -2.4% | -1.2% | -8.6% | -12.4% | -1.2% | -4.5% | -6.8% | -4.1% | -3.8% |
| 2016 | +17.6% | +15.3% | +31.2% | +19.8% | +15.3% | +17.4% | +19.8% | +12.1% | +5.9% |
| 2015 | -9.8% | -11.9% | -8.3% | -3.7% | -11.9% | -1.4% | -4.8% | -14.2% | -10.6% |
| 2014 | -11.9% | -19.8% | -18.4% | -11.6% | -19.8% | -9.4% | -12.3% | -22.1% | -11.2% |
| 2013 | -22.8% | -35.9% | -38.1% | -35.2% | -35.9% | -31.2% | -34.4% | -38.6% | -11.4% |
| 2012 | +13.2% | +8.4% | +7.8% | +5.1% | +8.4% | +4.6% | +6.9% | +6.1% | +3.8% |
| 2011 | +82.4% | +74.0% | +71.3% | +68.8% | +74.0% | +64.2% | +70.1% | +65.3% | +56.2% |
Historical Silver Price Charts
30 Days-3.5%
$89.43
60 Days-8.1%
$89.43
1 Year-8.9%
$89.43
2 Years-7.4%
$89.43
5 Years-11.5%
$89.43
10 Years-3.9%
$89.43
All Time+15.3%
$89.43
What Moves Silver Price in Mumbai?
India is one of the world's largest consumers of silver, driven by industrial demand, jewelry, and silverware. Mumbai's Multi Commodity Exchange (MCX) is the primary futures market for silver in India. Local prices are influenced by the USD/INR exchange rate, import duties of 10%, and GST of 3% on top of the global spot price — which often creates a notable premium over international spot levels for Indian buyers.
Frequently Asked Questions
What is MCX silver?
MCX (Multi Commodity Exchange) is India's largest commodity derivatives exchange. MCX Silver futures allow Indian investors to gain exposure to silver price movements without taking physical delivery of the metal.
Why is silver so popular in India?
Silver has deep cultural significance in India, used in jewelry, religious items, utensils, and gifting. Industrial demand from electronics, solar panels, and electrical components is also a significant and rapidly growing driver of consumption.
Silver Converter
INR
₹8,249.88USD
$89.43Silver Price Forecast & Prediction — Mumbai
Technical analysis based price targets. Not financial advice.
Market SentimentNeutral
BearishNeutralBullish
Support
$84.07
Resistance
$94.80
Technical Indicators
50-Day MABullish
200-Day MABullish
RSI (14)Neutral
MACDBullish
StochasticOverbought
BollingerNeutral
Price Targets
| Period | Bear Target | Base (Current) | Bull Target | Range |
|---|---|---|---|---|
| 1 Week | $87.82₹8,101.38 INR | $89.43₹8,249.88 INR | $91.58₹8,447.88 INR | ±2.1% |
| 1 Month | $85.41₹7,878.63 INR | $89.43₹8,249.88 INR | $94.98₹8,761.37 INR | ±5.3% |
| 3 Months | $81.38₹7,507.39 INR | $89.43₹8,249.88 INR | $99.99₹9,223.36 INR | ±10.4% |
| 6 Months | $77.36₹7,136.15 INR | $89.43₹8,249.88 INR | $105.89₹9,767.86 INR | ±15.9% |
| 1 Year | $73.34₹6,764.90 INR | $89.43₹8,249.88 INR | $115.01₹10,609.34 INR | ±23.3% |
↑ Bullish Factors
- Global central bank rate cut expectations support precious metals
- Industrial demand from solar panels and EV batteries rising
- USD weakness historically boosts XAG/USD spot prices
- Supply deficits as mining output lags industrial consumption
↓ Bearish Factors
- Higher-for-longer interest rates increase opportunity cost of holding silver
- Strong USD could weigh on dollar-denominated commodity prices
- Weak economic data may dampen industrial silver demand
- Profit-taking after recent rallies could trigger short-term pullbacks
Disclaimer: Price predictions are based on technical analysis and historical patterns only. They do not constitute financial advice. Silver markets are highly volatile — always do your own research before investing.
Silver Prices in Other Cities
Track current silver rates in INR for investors and jewelers in Mumbai. Prices reflect live XAG/USD spot converted at the prevailing USD/INR rate. India is one of the world's largest silver consumers, with strong demand from both the jewelry industry and growing industrial sectors.