Live Prices Updated Every 30s
Our transparent methodology for calculating indicative silver prices in India
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📊 Our prices are calculated in real-time from international market data, not copied from other websites.
SilverInfo.in uses the following primary data sources to calculate indicative silver prices:
International silver futures price in USD per troy ounce from COMEX (Commodity Exchange) - the world's leading derivatives marketplace.
Note: This is a futures price, not spot. We convert it to approximate Indian spot equivalent using duties and premiums.
Real-time USD to INR exchange rate from Frankfurter API - based on European Central Bank (ECB) published rates.
Updated daily. We use the latest available rate for conversions.
We store daily closing prices locally on our servers. This gives us:
We convert international silver prices to Indian Rupees using this formula:
// Step-by-step calculation (Budget July 2024 rates)
Base Price = (COMEX_USD × USD_INR) ÷ 31.1035
With Import Duty = Base × 1.06 // 6% (5% customs + 1% AIDC)
With IGST = Above × 1.03 // 3% IGST
Final Price = Above × 1.03 // 3% MCX/local premium
// Result: ₹ per gram (indicative)
| Component | Rate | Description |
|---|---|---|
| Basic Customs Duty | 5% | Import duty on silver (reduced in Budget July 2024) |
| AIDC | 1% | Agriculture Infrastructure Development Cess (reduced) |
| IGST | 3% | Integrated Goods & Services Tax |
| MCX Premium | ~3% | Local market premium over international price |
30s
Client auto-refresh
10 min
Server cache (ISR)
1 day
Forex rate update
Silver prices vary across Indian cities due to:
We apply city-specific premiums ranging from ₹0.20/gram (Mumbai) to ₹1.40/gram (Thiruvananthapuram) based on typical market patterns.
Our calculated prices typically match actual market rates within:
Official real-time MCX data requires expensive commercial licenses. Our self-calculation approach provides:
You can verify our prices against these sources:
If you have questions about our methodology or notice discrepancies, please contact us. We're committed to transparency and continuous improvement.