Lakshadweep · 31 October 2026 · 01:51 PM IST
| Weight | Base Price | Incl. GST (3%) | 925 Sterling |
|---|---|---|---|
| 1 Gram | ₹203.60 | ₹209.71 | ₹188.33 |
| 5 Grams | ₹1,018.00 | ₹1,048.54 | ₹941.65 |
| 10 Grams | ₹2,036.00 | ₹2,097.08 | ₹1,883.30 |
| 1 Tola (11.66g) | ₹2,374.75 | ₹2,445.99 | ₹2,196.64 |
| 100 Grams | ₹20,360.00 | ₹20,970.80 | ₹18,833.00 |
| 500 Grams | ₹101,800.00 | ₹104,854.00 | ₹94,165.00 |
| 1 Kilogram | ₹203,600 | ₹209,708 | ₹188,330 |
| 1 Troy Oz | ₹6,332.67 | ₹6,522.65 | ₹5,857.72 |
Today, the silver price in Kavaratti dropped by Rs.0.27/gram to Rs.203.6/gram, reflecting a 0.13% decline. This movement aligns with broader market sentiment, particularly influenced by a softening in international prices and potential seasonal demand shifts. Indian consumers should remain cautious but optimistic, as recent price dips can present buying opportunities, especially if supported by stable or improving domestic factors.
Global macroeconomic factors are key drivers of silver prices. The US Federal Reserve's interest rate decisions and the USD/INR exchange rate significantly influence Indian silver markets. A weaker USD typically boosts silver prices, while lower interest rates can also positively impact demand. Internationally, strong demand from industrial and investment sectors contrasts with India's own domestic dynamics, such as the MCX prices, which have shown fluctuations, and the impact of import duties. Festive demand and monsoon outlook also play crucial roles in short-term price volatility and consumer sentiment.
For local consumers in Kavaratti, it is advisable to monitor both international and domestic price trends. Given the recent price dip, buying physical silver or investing in ETFs can be strategic, especially if accompanied by stable BIS hallmark standards. It's crucial to diversify investments to hedge against market fluctuations. For those opting for physical silver, ensure the purchase is from a trusted source and check for proper documentation. For ETFs, consider reputable platforms with low transaction costs and strong track records.
To securely buy physical silver or paper silver in Kavaratti, follow these steps: First, research and select a reputable dealer or platform known for its transparency and reliability. Second, verify the dealer’s credentials and check for proper storage and security measures. Third, ensure you have the necessary funds or credit lined up for the purchase. Fourth, complete the transaction either in person or through a secure online platform. Lastly, for physical silver, take delivery and inspect the product for quality and hallmark standards. For paper silver, confirm the transaction details and keep the records for future reference.