Andaman & Nicobar · 30 October 2026 · 09:49 AM IST
| Weight | Base Price | Incl. GST (3%) | 925 Sterling |
|---|---|---|---|
| 1 Gram | ₹218.12 | ₹224.66 | ₹201.76 |
| 5 Grams | ₹1,090.60 | ₹1,123.32 | ₹1,008.80 |
| 10 Grams | ₹2,181.20 | ₹2,246.64 | ₹2,017.61 |
| 1 Tola (11.66g) | ₹2,544.11 | ₹2,620.43 | ₹2,353.30 |
| 100 Grams | ₹21,812.00 | ₹22,466.36 | ₹20,176.10 |
| 500 Grams | ₹109,060.00 | ₹112,331.80 | ₹100,880.50 |
| 1 Kilogram | ₹218,120 | ₹224,664 | ₹201,761 |
| 1 Troy Oz | ₹6,784.30 | ₹6,987.83 | ₹6,275.48 |
The silver price in Port Blair has experienced a notable increase, rising by Rs.0.52/gram to Rs.218.12/gram today. This upward movement can be attributed to several factors, including the strengthening USD/INR exchange rate, which benefits Indian buyers by making international silver more expensive. Additionally, the anticipation of favorable festive demand and the recent COMEX trends have also contributed to this rise. However, domestic factors such as the MCX prices and the ongoing IBJA rates remain stable, indicating a balanced market sentiment.
Global macroeconomic drivers, such as the USD/INR exchange rate, are key in influencing silver prices in India. With the USD strengthening, Indian buyers find foreign silver more expensive, which can lead to increased demand. Furthermore, the US Federal Reserve’s interest rate policies continue to impact the precious metals market, with higher interest rates often pushing investors towards safe-haven assets like silver. Internationally, the demand for silver is also being driven by industrial applications and technological advancements, while in India, factors like the festive season and import duties play a crucial role, creating a dynamic interplay between global and domestic markets.
For local consumers in Port Blair, it is advisable to choose silver products that meet the BIS hallmark standards to ensure quality and purity. With the market showing signs of stability, considering both physical and paper silver investments can be a prudent strategy. Physical silver can be stored securely, while paper silver offers the convenience of trading on platforms like MCX. Additionally, investors should explore ETF options such as the Kotak Silver ETF to diversify their portfolio and benefit from the silver market's performance without the need for physical storage.
To securely buy physical silver in Port Blair, consumers should first research and identify reputable jewelers or bullion dealers. It is crucial to handle the transaction through secure payment methods and to ensure the silver meets BIS hallmark standards. For buying paper silver, investors can open an account with a recognized exchange platform like MCX. They should follow the platform’s procedures to buy and store their silver securely. Always keep transaction records and consider consulting a financial advisor for personalized investment advice.