Silver’s utility in jewellery and industrial manufacturing
Let’s see high-purity silver rates on IBJA, MCX and MMTC-PAMP
IBJA silver rates
IBJA 999 purity silver rates from March 20-25, 2026
Date
Price (₹) Daily Change (₹) Change vs 20 Mar (₹) 25-Mar-26 2,34,814 10,269 2,450 24-Mar-26 2,24,545 5,285 -7,819 23-Mar-26 2,19,260 -13,104 -13,104 20-Mar-26 2,32,364 — 0
MCX silver spot prices/kg from March 23-27, 2026
Date
Spot Price (₹) Daily Change (₹) Change vs 23 Mar (₹) 27-Mar-26 2,25,813 -8,407 16,100 26-Mar-26 2,34,220 0 24,507 25-Mar-26 2,34,220 9,763 24,507 24-Mar-26 2,24,457 14,744 14,744 23-Mar-26 2,09,713 — 0
MMTC-PAMP pure silver price
Silver prices fluctuated throughout the week due to the Iran-Israel conflict, geopolitical uncertainty, anticipation of the US Fed rate cut, etc. Yellow metal rates fluctuated heavily on platforms such as the Multi Commodity Exchange of India (MCX) and the India Bullion and Jewellers Association Ltd. (IBJA).If we compare silver spot prices on the MCX from the beginning of this week, the overall rates increased by Rs 16,100, up from Rs 2,09,713/kg on March 23, 2026, to Rs 2,25,813/kg on March 27, 2026.However, if we compare Friday’s price from a day ago, there was a decline of Rs 8,407 from Rs 2,34,220/kg on Thursday.In this write-up, we will see high-purity silver prices on platforms such as MCX, IBJA and MMTC-PAMP.Also read: 22k gold rate today: Check 22K, 24K gold prices (March 27, 2026) on Tanishq, Malabar Gold & Diamonds, Joyalukkas and IBJA The white metal’s prices soared at a record pace in the last year due to its demand in jewellery, as a source of hedge against inflation and industrial usage.Silver coins and bars are other two important types of the white metal that attract a lot of investors from Indian households. They are not seen merely as pieces of precious metal, but as symbols of blessings, prosperity and good wishes.During festivals such as Diwali, Akshaya Tritiya or Dhanteras, many families buy silver coins featuring images of Lord Ganesha and Goddess Lakshmi, believing they bring good fortune and financial well-being.Other than that, silver is used in the manufacturing of many industry items, such as electric vehicle (EV) batteries.The Bureau of Indian Standards also introduced silver jewellery hallmarking on a voluntary basis in October 2005. Under the hallmarking scheme for silver jewellery, silver jewellers are granted a certificate of registration in accordance with IS 2112 to sell hallmarked silver jewellery.999 purity silver prices on IBJA has also shown sharp movements in recent days. According to IBJA data, the silver rate stood at Rs 2,34,814/kg on the evening of March 25, 2026.The above rates are IBJA PM Rates; Rates are exclusive of GST.MCX silver ratesSilver spot price on MCX slashed to Rs 2,25,813/kg on Friday from Rs 2,34,220/kg on Thursday, a decline of Rs 8,387/kg.A 500 gm casted silver bar is currently priced at around Rs 1,36,450, while a 1 kg silver bar is available at approximately Rs 2,71,160, on the MMTC-PAMP website as on March 27, 2026.A 10 gm Ganesh Lakshmi silver coin, often purchased for puja purposes or gifting, is currently priced at about Rs 3,160 on March 27, 2026, as per the MMTC website.10 grams of silver bars, Banyan Tree Silver Bar, is available at Rs 3,160 on MMTC-PAMP as on March 27, 2026.