Silver Price Today in Nashik

Today's silver price in Nashik is ₹233.5 per gram and ₹2,33,500 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.

Nashik's Saraf Bazaar silver trade is closely tied to the city's role as a Kumbh Mela pilgrimage site, with silver idols and ritual items seeing sharp demand spikes during the 12-yearly Simhastha Kumbh.

Nashik's Hindu pilgrimage economy drives strong demand for silver puja items and idols, particularly around the Godavari ghats. The city's grape and wine-farming communities, like in the gold market, also channel surplus income into silver as a more accessible alternative.

Buying tip: Nashik's silver prices track Maharashtra levels (similar to Mumbai and Pune). Buying before the Kumbh Mela years, when demand and prices for silver ritual items spike sharply, can be advantageous for residents and pilgrims alike.

Silver prices in Nashik include Maharashtra 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.