Lakshadweep · 16 September 2026 · 12:17 AM IST
| Weight | Base Price | Incl. GST (3%) | 925 Sterling |
|---|---|---|---|
| 1 Gram | ₹249.41 | ₹256.89 | ₹230.70 |
| 5 Grams | ₹1,247.05 | ₹1,284.46 | ₹1,153.52 |
| 10 Grams | ₹2,494.10 | ₹2,568.92 | ₹2,307.04 |
| 1 Tola (11.66g) | ₹2,909.07 | ₹2,996.34 | ₹2,690.89 |
| 100 Grams | ₹24,941.00 | ₹25,689.23 | ₹23,070.43 |
| 500 Grams | ₹124,705.00 | ₹128,446.15 | ₹115,352.12 |
| 1 Kilogram | ₹249,410 | ₹256,892 | ₹230,704 |
| 1 Troy Oz | ₹7,757.52 | ₹7,990.25 | ₹7,175.71 |
Today, the silver price in Kavaratti witnessed a decline of Rs.0.28/gram to Rs.249.41/gram. This drop is likely influenced by a combination of global and domestic factors. Globally, the US Federal Reserve's interest rate decisions and the strength of the USD/INR exchange rate play a significant role, while domestically, factors such as the MCX silver price, interest bearing deposit rates (IBJA), festive demand, and import duties are also at play.
Global macroeconomic factors are key drivers of silver prices. The US Federal Reserve's interest rates remain a critical factor, as higher rates can lead to a stronger US dollar, affecting international commodity prices, including silver. Additionally, the USD/INR exchange rate influences the cost of imported silver, impacting local prices. On a global scale, COMEX trends also reflect international demand and supply dynamics. Domestically, MCX silver prices and interest rates influence local sentiment. Festive demand and import duties further complicate the picture, as they can either boost or suppress prices depending on the season and government policies.
For local consumers in Kavaratti, it's important to consider BIS hallmark standards for quality assurance. When investing, diversify across physical silver and silver ETFs to mitigate risks. Physical silver offers tangible value, while ETFs provide a more liquid market. Given the current market conditions, it may be prudent to keep a watchful eye on global and domestic factors before making a decision.
To securely buy physical silver in Kavaratti, first, select a reputable dealer or a jeweler known for selling BIS-hallmarked silver. Verify the purity and weight of the silver before purchase. For paper silver, open a demat account with a trusted bullion broker, which allows you to buy and sell silver futures and ETFs. Always ensure transactions are conducted through secure platforms and keep all purchase documents for future reference.