Factors Influencing Silver Price in Ahmedabad
The price of silver changes every day due to several market and economic factors as follows:
- Global Market Trends: Silver prices in Ahmedabad are closely tied to international commodity markets like the London Bullion Market. Any rise or fall globally impacts local prices.
- Demand and Supply: High demand during festivals like Diwali or wedding seasons often pushes silver rates upward.
- Import Duty and Taxes: India imports most of its silver. Changes in import duty or GST rates can directly affect silver prices.
- Currency Fluctuations: Since silver is traded in US dollars, any change in the INR-USD exchange rate influences silver rates in Ahmedabad.
- Industrial Demand: Silver is used in electronics, solar panels, and medical devices. Growth in these sectors can increase demand, raising prices.
How to Buy Silver in Ahmedabad
Ahmedabad offers various options for buying silver, from traditional jewellery stores to online platforms.
Popular Ways to Buy Silver:
- Jewelry Stores: Buy ornaments, coins, and bars from trusted jewellers in areas like C.G. Road, Manek Chowk, or Satellite.
- Bullion Dealers: If you want pure investment-grade silver, visit certified bullion traders or banks.
- Online Platforms: Many reputed e-commerce sites offer silver coins and bars with purity certificates.
Factors to Check Before Buying Silver in Ahmedabad
Before you make a purchase, make sure you check the following:
- Purity:Confirm whether it’s sterling silver (92.5%) or fine silver (99.9%).
- Hallmarking:Look for BIS (Bureau of Indian Standards) hallmark for assurance.
- Weight Accuracy:Ensure the item is weighed correctly in front of you.
- Making Charges:In jewelry, making charges vary—compare rates across shops.
- Buy-Back Policy:Some dealers offer repurchase options, which can be useful for investors.
Understanding Silver Purity in Ahmedabad
The standard for investment-grade silver is 99.9% purity (999 fineness), ideal for coins and bars that offer maximum resale value. In contrast, 92.5% silver (925 sterling silver), blended with a small amount of copper for added durability, is commonly used in jewellery and everyday silverware.
Since 2021, BIS hallmarking has been mandatory for all silver articles and was further strengthened in 2025. Each hallmark includes the BIS logo, purity grade (such as 999 or 925), the jeweller’s identification mark, and the assay centre code for authenticity verification.