The price of silver has achieved historic highs and lows all in the last week of January 2026. According to live charts, silver completed an unprecedented climb to approx. Rs3.5 lakhs for 1kg of fine silver, before crashing down by 30%. The price of silver, as of 18th March 2026, is approx. Rs2.3 lakhs per 1kg and it remains in a fluctuating state.
Silver prices can be volatile. For travellers, this decline is a reminder to check local rates before buying, whether you are shopping in the United Kingdom, browsing the Mexican markets or shopping in India.
Rules for bringing silver into India
According to the new Baggage Rules 2026, a female Indian citizen returning after spending more than a year abroad can bring jewellery of up to 40gm with maximum value of Rs1lakh without paying any duty. This limit goes down to 20gm with maximum value of Rs50,000 for male passengers. It is important to remember that this weight limit is a total of any purchased gold and silver jewellery you are bringing into the country.
In other cases, citizens and persons of Indian origin can bring up to 10kg of silver into the country by paying a 6% duty and 3% GST. Import of raw bullion remains restricted to banks. This information is subject to change and it is highly advised that you recheck any information from official sources such as the official website of the Director General of Foreign Trade.
Each destination around the world prices silver differently. Below we’ve broken down the current retail prices of 1kg of fine silver from key destinations along with any custom rules that apply. The prices were last checked on 18th March 2026 and it is always suggested that you verify live rates via reliable sources such as Kitco, SilverPrice.org, or local exchanges, as they fluctuate hourly.
Before you buy
Always buy from reputable dealers, request itemised invoices, and declare high-value silver at India’s red channel. For real-time prices, sources like SilverPrice.org, Kitco, and India’s IBJA are indispensable. With the right paperwork and awareness, your silver can return home smoothly as any other souvenir.
India
Price for 1kg: Rs2,34,030
In Mumbai’s Zaveri Bazaar and Delhi’s Karol Bagh, festivities increase demand, especially around Holi, driving prices higher. A 3% GST also adds to retail costs. In the case that you are travelling abroad with silver, remember to check for the destination’s customs rules and regulations regarding entry of silver.
United States
Price for 1kg: $2,540 (Rs2,34,760)
New York’s Diamond District and dealers like JM Bullion offer silver coins and bars with modest premiums of 1–5% over spot rates. It is important to check the source of the silver so that any sanctioned countries may be avoided. At the appropriate red channels, remember to declare your silver, validating it with invoices and purity certificates.
United Kingdom
Price for 1kg: £1,900 (Rs2,34,620)
London’s Hatton Garden blends heritage and bullion trade. Jewellery designs cater to global tastes, though prices reflect the strength of the pound. The usual duty-free limits apply but when declaring bars or coins, quality assessment certificates are recommended, along with the other documents.
China
Price for 1kg: CNY 17,433 (Rs2,33,940)
Beijing’s traditional markets and the Shanghai Metals Market offer high-purity bars and ornate jewellery at prices closely tracking global rates. The customs rules at entry back into India apply.