Silver Rate Today – Silver Jumps ₹18,000 Per Kg on MCX, Will Silver to Cross ₹3 Lakh?
Silver Rate Today: Following the government’s decision to increase import duties on gold and silver, prices have witnessed a sharp surge. Silver alone has seen a jump of approximately ₹16,000. Experts predict that the price of silver could cross the ₹3 lakh mark. The government has raised the import tax from 6% to 15%.
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Silver Rate Today
Silver Rate Today: The government has suddenly hiked the import duty on gold and silver. Following this move, a massive surge has been observed in the prices of both gold and silver. By 10:00 AM, the price of silver had jumped by ₹17,938 per kilogram. As of the time of writing, the price of silver for July 3rd delivery on the MCX stands at ₹297,343. The price of silver has now neared the ₹300,000 mark. The surge in gold and silver prices is being attributed to the revised customs duties.
The Modi government has, overnight, imposed a 10% Basic Customs Duty and a 5% Agriculture Infrastructure and Development Cess on the import of gold and silver. The total import tax has effectively been raised from 6% to 15%. Prime Minister Modi recently appealed to the public to refrain from purchasing gold for a year.
India’s Gold Imports Rise by 24%
India meets most of its gold consumption through imports. In the previous financial year (2025-26), India’s gold imports surged by 24%, reaching a record high of $71.98 billion.
*Silver Price Today: How Much Does Silver Cost?
As of 11:55 AM, the price of 1 kilogram of silver on the MCX is trading at ₹293,343. This represents an increase of approximately ₹14,000 per kilogram. However, silver prices have been witnessing continuous fluctuations throughout the day-to-day—at one moment dropping by ₹2,000, and at another, rising again.
Silver Rate Today City – Wise
In Patna, the price of 1 kg of silver is ₹294,730.
In Jaipur, the price of 1 kg of silver is ₹294,850.
In Kanpur, the price of 1 kg of silver is ₹294,960.
In Lucknow, the price of 1 kg of silver is ₹294,960. The price of 1 kg of silver in Bhopal is ₹295,200.
The price of 1 kg of silver in Indore is ₹295,200.
The price of 1 kg of silver in Chandigarh is ₹294,890.
The price of 1 kg of silver in Raipur is ₹280,830.
How High Will Gold and Silver Prices Go?
According to experts, gold prices on the MCX could reach ₹1.68 lakh to ₹1.70 lakh per 10 grams, while silver could cross the ₹3 lakh mark per kilogram. Some experts attribute this surge in gold and silver prices to increased duties.
FAQs: People Also Ask
According to experts, gold prices on the MCX could reach ₹1.68 lakh to ₹1.70 lakh per 10 grams, while silver could cross the ₹3 lakh mark per kilogram.
The Modi government has, overnight, imposed a 10% Basic Customs Duty and a 5% Agriculture Infrastructure and Development Cess on the import of gold and silver. The total import tax has effectively been raised from 6% to 15%. Prime Minister Modi recently appealed to the…
India meets most of its gold consumption through imports. In the previous financial year (2025-26), India's gold imports surged by 24%, reaching a record high of $71.98 billion.
As of 11:55 AM, the price of 1 kilogram of silver on the MCX is trading at ₹293,343. This represents an increase of approximately ₹14,000 per kilogram. However, silver prices have been witnessing continuous fluctuations throughout the day-to-day—at one moment dropping by ₹2,000, and at…
In Lucknow, the price of 1 kg of silver is ₹294,960. The price of 1 kg of silver in Bhopal is ₹295,200.
Priyanka Singh
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