Goa · 16 September 2026 · 12:17 AM IST
| Weight | Base Price | Incl. GST (3%) | 925 Sterling |
|---|---|---|---|
| 1 Gram | ₹245.73 | ₹253.10 | ₹227.30 |
| 5 Grams | ₹1,228.65 | ₹1,265.51 | ₹1,136.50 |
| 10 Grams | ₹2,457.30 | ₹2,531.02 | ₹2,273.00 |
| 1 Tola (11.66g) | ₹2,866.15 | ₹2,952.13 | ₹2,651.19 |
| 100 Grams | ₹24,573.00 | ₹25,310.19 | ₹22,730.03 |
| 500 Grams | ₹122,865.00 | ₹126,550.95 | ₹113,650.12 |
| 1 Kilogram | ₹245,730 | ₹253,102 | ₹227,300 |
| 1 Troy Oz | ₹7,643.06 | ₹7,872.35 | ₹7,069.83 |
Today, the silver price in Panaji rose by Rs.0.69/gram to Rs.245.73/gram, a response to both local and global factors. The increase is partly attributed to heightened festive demand and expectations of a favorable monsoon season, which typically boosts demand. Additionally, global trends, including rising COMEX silver prices and a supportive USD/INR exchange rate, have contributed to this upward movement. Local factors such as the MCX prices and the Indian Bullion and Jewelers Association (IBJA) rates also played a significant role in today's price action.
Global macroeconomic drivers such as the US Federal Reserve's interest rate policies and the USD/INR exchange rate are crucial to understanding today's price movements. The Federal Reserve's decisions on interest rates can impact the demand for silver as an inflation hedge. A stronger USD tends to weaken silver prices on a dollar-denominated scale. However, the current favorable USD/INR exchange rate is beneficial for Indian buyers, making imported silver cheaper. Internationally, robust demand from industrial and investment sectors, along with positive COMEX trends, have supported silver prices. In contrast, domestic factors like the MCX prices and IBJA rates provide a local context, and the festive season's increased demand further drives local prices.
Local consumers in Panaji should consider purchasing silver from reputable dealers that adhere to BIS hallmark standards to ensure the purity and quality of the metal. For long-term investment strategies, both physical silver and silver ETFs can be viable options. Physical silver allows for direct ownership and physical possession, whereas ETFs offer a paper silver investment with reduced storage and security concerns. Investors should also monitor global economic indicators and local market trends to make informed decisions.
To securely buy physical silver or paper silver in Panaji, follow these steps: First, research and select a reputable dealer or shop that complies with BIS hallmark standards. Second, verify the purity and weight of the silver before finalizing the purchase. For paper silver, open an account with a trusted brokerage or bank that offers silver ETFs. Third, ensure you understand the terms and conditions, including storage and fees. Lastly, for physical silver, securely store your investment to protect it from damage or theft.