Silver market chart
Historical benchmark in INR per troy ounce; weight conversions are shown in the tables.
Silver Price Chart in INR per Pennyweight
Live silver price history in Indian Rupee (INR) per pennyweight. Toggle 24H, 7D, 30D, and 1Y ranges to analyze silver trends.
Quick Calculator
Calculate silver value
= 1.5552 grams
= 0.050000 troy ounces
Price per dwt: —
Silver price by currency
Fine silver per pennyweight · current exchange rates
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US Dollar
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Euro
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British Pound
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Japanese Yen
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Swiss Franc
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Australian Dollar
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Canadian Dollar
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Indian Rupee
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Chinese Yuan
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Singapore Dollar
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Hong Kong Dollar
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Taiwan Dollar
Silver price by weight
| Weight | Grams | Spot value (INR) |
|---|---|---|
| Troy Ounce | 31.1035 | — |
| Gram | 1 | — |
| Kilogram | 1000 | — |
| Pennyweight | 1.55517 | — |
| Tola | 11.6638 | — |
| Tael (Hong Kong) | 37.429 | — |
| Tael (Shanghai / Mainland China) | 50 | — |
| Tael (Taiwan) | 37.5 | — |
| Grain | 0.0648 | — |
| Momme | 3.75 | — |
| Baht | 15.244 | — |
| Chi | 3.75 | — |
| Don | 3.75 | — |
| Mesghal | 4.6875 | — |
What is a Pennyweight? Silver weight, conversions and local use
Definition. The pennyweight (1.55517 g, one twentieth of a troy ounce) is the unit American jewellers and scrap buyers still quote in. One pennyweight equals 1.55517 grams, or 0.05000 troy ounces, which at today's silver spot price works out to — INR.
Where it is used. Repair work, casting weights and scrap gold offers in the US are almost always priced per pennyweight rather than per gram. The unit is the trading standard in United States jewellery trade.
Pricing conventions. A scrap buyer quoting per dwt is quoting on a unit roughly 1.5 times a gram, so always convert before comparing with an online per-gram offer. Silver is bulkier per unit of value, so quotes in small traditional units are usually a conversion, while real trade happens in kilogram and 1 000 oz bars.
Good to know. The name survives from the medieval English penny, which literally weighed one pennyweight of silver.
Silver price per Pennyweight in INR — quick conversion table
| Quantity | Grams | Troy ounces | Value (INR) |
|---|---|---|---|
| 1 pennyweight | 1.555 g | 0.0500 oz t | — |
| 5 pennyweights | 7.776 g | 0.2500 oz t | — |
| 10 pennyweights | 15.552 g | 0.5000 oz t | — |
| 100 pennyweights | 155.517 g | 5.0000 oz t | — |
Values are calculated from the live XAG spot price converted into Indian Rupee and refresh with the price above.
Buying Silver in India: local market, taxes and premiums
At the live price shown above per pennyweight, the price you see here is the international XAG spot price converted into Indian Rupee. Physical buyers in India pay that reference plus a premium, and local trading is concentrated around Mumbai's Zaveri Bazaar, plus Ahmedabad and Chennai. Buyers there generally watch the IBJA daily rate published for 999 and 916 gold as the day's reference.
Taxes and duties. Silver is also taxed at 3% GST; platinum and palladium are niche and mostly sold as jewellery. Silver is bulkier and cheaper per unit, so shipping, storage and consumption taxes matter far more to the final price than they do for gold. That is why the shop price of silver in INR can sit noticeably above the spot value of the same pennyweight of metal.
How people usually buy. The common routes in India are family jewellers, national chains such as Tanishq and Kalyan, Sovereign Gold Bonds and Gold ETFs and digital gold apps. The products most often quoted locally include 22K jewellery, gold coins of 8 g and 10 g, 1 tola bars, Sovereign Gold Bonds.
Local conventions. Gold is bought by the tola (11.6638 g) and in 22K (916) purity, with BIS hallmarking now mandatory; demand peaks at Dhanteras, Akshaya Tritiya and the wedding season. Before you buy, compare the dealer's asking price per pennyweight with the live silver price above, and check the buy-back spread the same dealer offers — that round-trip cost matters more than a small difference in the headline INR quote.
Market information only, updated with live prices. Not tax or investment advice; tax rules in India can change.
Other Precious Metals in INR
Compare prices across different precious metals
About Silver Price in INR
What is Silver?
Silver is a chemical element with symbol Ag and atomic number 47. It is a soft, white, lustrous transition metal with the highest electrical conductivity of any element.
History
Silver has been known since ancient times. It was one of the first five metals discovered by humans, along with gold, copper, lead, and iron.
Common Uses
Interesting Facts
- •Silver has the highest electrical conductivity of any element
- •Silver has antimicrobial properties
- •The word 'silver' appears in many languages as a root for 'money'
Silver Price Per Pennyweight in Indian Rupee
The current silver price per pennyweight in Indian Rupee (INR) is updated in real-time based on international market rates. Silver is traded globally and its price fluctuates based on supply and demand, economic conditions, and geopolitical factors.
When buying or selling silver in India, it's important to understand that prices are typically quoted in troy ounces on international markets. Our converter helps you easily calculate the price in pennyweights, which may be more practical for local transactions.
The pennyweight is a unit of mass equal to 24 grains, 1/20 of a troy ounce. This unit is commonly used when trading silver in various markets around the world.
Silver Long-Term Returns vs Current INR Price
How silver has performed over 1, 5, 10, and 20 years against today's spot price (USD/oz). Useful for India investors tracking silver in INR.
| Period | Start date | Price then | Return |
|---|
Historical prices are approximate annual averages, interpolated between anchor years (1980–2026).
Silver price in INR – FAQ
How much does one ounce of silver cost in INR today?
One troy ounce of silver currently costs approximately the live spot price shown on this page. This live spot price is refreshed every 5 minutes from MetalflowAPI market data and reflects the international XAG/INR rate.
What is the current silver rate in India today?
The current silver rate in India is the live spot price shown on this page per pennyweight. Prices refresh every 5 minutes and follow the international Silver spot price converted to Indian Rupee.
How much is 1 pennyweight of silver in INR?
1 pennyweight of silver equals the live spot price shown on this page today. This is calculated from the live spot price per troy ounce, converted via the INR exchange rate (1 pennyweight = 1.55517 grams).
How is the silver price per pennyweight calculated?
The silver price per pennyweight is calculated by converting the international spot price (quoted per troy ounce in USD) to INR using the current exchange rate, then converting to the pennyweight weight unit (1 pennyweight = 1.55517 grams).
Do I pay tax or VAT when buying silver in India?
Silver is also taxed at 3% GST; platinum and palladium are niche and mostly sold as jewellery. Always confirm the current rule with the dealer, because the tax treatment changes the real cost per pennyweight more than small differences in the INR spot quote.
Where do people usually buy silver in India?
The usual routes are family jewellers, national chains such as Tanishq and Kalyan, Sovereign Gold Bonds and Gold ETFs, digital gold apps. Local trading is centred on Mumbai's Zaveri Bazaar, plus Ahmedabad and Chennai, and the products most often quoted are 22K jewellery, gold coins of 8 g and 10 g, 1 tola bars, Sovereign Gold Bonds.
Why is the shop price of silver higher than the spot price in INR?
Retail prices add a dealer premium covering refining, minting, shipping, insurance and margin, plus any local tax. Silver is bulkier and cheaper per unit, so shipping, storage and consumption taxes matter far more to the final price than they do for gold. Compare the asking price per pennyweight with the live spot value above, and check the dealer's buy-back spread.
Which price reference does the India silver market follow?
Local buyers generally follow the IBJA daily rate published for 999 and 916 gold, converted into Indian Rupee (INR). Gold is bought by the tola (11.6638 g) and in 22K (916) purity, with BIS hallmarking now mandatory; demand peaks at Dhanteras, Akshaya Tritiya and the wedding season.