Silver Price Today in Indore

Today's silver price in Indore is ₹233.3 per gram and ₹2,33,300 per kg for 999 fine silver. Prices are updated daily based on MCX silver futures and international LBMA spot rates, including applicable duties and GST.

Indore's Sarafa Bazaar handles a significant volume of silver coin and utensil trade alongside gold, reflecting Madhya Pradesh's strong Marwari and Jain community demand for silver ritual items.

Indore's traders buy silver 'Shree' coins and idols heavily during Navratri and Diwali, continuing a Marwari business tradition of holding silver as a liquid, easily tradeable store of value alongside gold.

Buying tip: Indore's Sarafa Bazaar offers competitive wholesale silver coin rates given the volume of trade passing through the market daily. Madhya Pradesh's higher state taxes apply similarly to silver as gold, so price comparisons with Bhopal show little difference.

Silver prices in Indore include Madhya Pradesh state taxes and local dealer margins. GST of 3% is applicable on all silver purchases in India. For 925 sterling silver (used in most jewellery), the price per gram is approximately 7.5% lower than 999 fine silver. Always check for BIS hallmarking when buying silver jewellery.