Silver Rate Today in Daman and Diu – 7 Nov 2026, 2 AM IST

• Today's silver rate
• Making charges and GST
• Where to buy silver

The figures in the live table are bullion reference rates for Daman and Diu, quoted per gram for 999 fine silver and 925 sterling silver, refreshed every business day against MCX and IBJA benchmarks.

Daman's larger jewellery trade and Diu's smaller resident market together support genuine silver demand, purchased for weddings, festivals and gifting throughout the year. This page covers today's rate, making charges and GST, purity verification, where to buy and sell, the buying calendar, taxation and a detailed FAQ.

The weight table converts today's per gram rate into the denominations buyers in Daman and Diu transact in, from a single gram through 10 grams, 100 grams and a kilogram, for both 999 and 925 purity.

Investment minded buyers in Daman more often buy at the 100 gram or kilogram level, while daily wear jewellery purchases in Diu typically stay in smaller gram denominations.

Silver jewellery typically attracts a melting or deduction charge of 15 percent or more at resale, which lowers effective returns compared with reselling coins or bars.

Ask any Daman or Diu jeweller for their exact deduction policy before selling, since terms vary meaningfully between shops.

A single day's rate tells you very little on its own. The last ten trading sessions show whether today's print sits at the top of a run, at the bottom of a pullback, or somewhere in the middle of a flat stretch.

Silver moves harder in percentage terms than gold on the same piece of news, so a wider range over ten days is normal here than on a gold rate page over the same window.

The trend table sets today's rate against its opening and closing values over seven days, 30 days and 12 months. The shorter windows capture sentiment; the 12 month window captures the structural story, chiefly global industrial demand, ETF investment flows and the gold to silver ratio.

Daman and Diu tracks the national IBJA benchmark closely, with local demand shaped by the region's blended festival calendar.

Silver trades continuously in US dollars per troy ounce on COMEX and the London Bullion Market Association benchmark, converts at the prevailing USD to INR rate, and picks up customs duty, cess and GST before reaching Indian retail. Jewellers here price against the national IBJA reference rate each morning.

Silver is more industrially exposed than gold nationally, though Daman and Diu's own economy, driven by tourism and coastal trade rather than silver consuming industries, means local retail demand is driven by jewellery and the festival calendar rather than industrial use.

Real interest rates, the US dollar, industrial demand and investment flows move the international price. The rupee's exchange rate and Indian import duty changes move the local price on top of that.

Locally, wedding season, the Masi Fair and Dhanteras bring sharp seasonal uplifts in buying across Daman and Diu. As gold prices climb, buyers here frequently shift toward silver jewellery and coins as a more accessible substitute.

999 fine silver is 99.9 percent pure and is the form used for investment coins and bars, heavily bought around Dhanteras.

925 sterling silver, 92.5 percent pure with the remainder mostly copper, is the standard for jewellery sold across Daman and Diu's retail jewellers. Confirm which purity a quote refers to before comparing shops.

Silver hallmarking became mandatory across India from 1 September 2025, with a six digit HUID marked on each hallmarked piece alongside the BIS Standard Mark and purity grade.

Daman and Diu jewellers now routinely distinguish hallmarked from non hallmarked silver pricing, so always ask which category a quoted rate refers to.

The rate shown on this page is the metal price alone. What you pay at the counter adds a making charge, then GST at 3 percent on the combined total of metal value plus making charge.

What making charges typically run

• Silver coins and bars | roughly 3 to 8 percent, close to 999 purity
• Standard jewellery | roughly 6 to 20 percent based on the work involved
• Wedding sets and heavier ornaments | roughly 12 to 25 percent, reflecting detailed craftsmanship

A worked example: a 40 gram silver piece with 12 percent making adds 12 percent to the metal value, then 3 percent GST on that subtotal, for a final bill roughly 15.4 percent above the pure metal value.

Several apps offer digital silver purchases that track the live rate without requiring physical storage, available in Daman and Diu the same as anywhere else in India.

Digital silver typically carries a small spread between buy and sell prices, and is particularly useful for Diu's smaller resident buyer base without a wide local retail selection.

Daman, split into Moti Daman and Nani Daman by the Damanganga river, and Diu were Portuguese territories for around four centuries before joining India in December 1961, a history still visible in the region's forts, churches and colonial architecture.

This layered history gives Daman and Diu's local jewellery trade a genuinely distinct cultural backdrop compared with Dadra and Nagar Haveli's more recent industrial development in neighbouring Silvassa.

Silver buying in Daman and Diu follows the mainstream national festival calendar, layered with a few distinctly local occasions tied to the region's Portuguese heritage and coastal culture.

• Dhanteras and Diwali, the strongest annual buying peak for silver coins and jewellery
• The Masi Fair in Daman, an annual celebration that draws thousands of devotees
• Nariyal Poornima, celebrated with genuine local enthusiasm along the coast
• Wedding season, when demand for silver ornaments and gifting items peaks alongside gold

As gold prices have climbed, a meaningful share of buyers here has shifted toward silver for festival purchases, wedding gifts and savings, following the same national pattern seen across India.

This shift shows up as a genuine mix of lighter weight pieces and continued jewellery purchases across both Daman and Diu's resident buyer bases, rather than buyers skipping the purchase altogether.

Daman and Diu's jewellery trade carries the imprint of centuries of Portuguese colonial history, with both territories joining independent India only in December 1961, later than most of the rest of the subcontinent.

Daman's Nani Daman Market developed into the region's benchmark silver trading area over subsequent decades, while Diu's smaller trade has stayed closely tied to its resident population rather than tourism.

Daman and Diu was administered as its own union territory until 26 January 2020, when it was merged with the neighbouring union territory of Dadra and Nagar Haveli to form the combined union territory of Dadra and Nagar Haveli and Daman and Diu, with Daman as the joint capital.

Despite sharing a single administration since the merger, Daman and Diu and Dadra and Nagar Haveli remain geographically separate, and their silver markets are covered on their own dedicated pages given how different Daman and Diu's coastal, Portuguese heritage driven trade is from Silvassa's industrial economy.

Daman, split by the Damanganga river into Moti Daman and Nani Daman, carries an established silver retail trade clustered around the Nani Daman Market and the town's main jetty, the livelier of the two halves.

Moti Daman, home to government buildings and the town's Portuguese era fort and churches, sits quieter by comparison, with most everyday shopping concentrated in Nani Daman.

Diu, a small island off Gujarat's Saurashtra coast, carries a modest resident silver jewellery trade serving local families, genuinely distinct from the tourism economy that dominates the island's beaches and forts.

Given the island's small population, Diu's silver retail trade is limited in scale compared with Daman, and buyers here often travel to Daman or order online for a wider selection.

Daman's jewellery shops cluster around the Nani Daman Market, while Diu's small resident jewellery trade serves local families away from the tourist beaches.

What to check wherever you buy

• BIS hallmark and HUID number on the piece
• The day's rate displayed and the making charge quoted as a percentage in writing
• A proper GST invoice carrying weight, purity, rate and making charge

Exchange at an established jeweller, ideally the one who sold it, with the piece weighed and purity tested in front of you. Daman's larger jewellers typically offer the most transparent buyback terms given the town's trading volume.

Jewellers commonly quote separate exchange rates for hallmarked and non hallmarked silver, so confirm which rate applies to your specific piece before agreeing to a sale.

Taxes on silver are set nationally, so nothing here is specific to Daman and Diu.

At purchase, GST at 3 percent applies on the value of the metal plus making charges. At sale, profit on physical silver held over the qualifying period is taxed as long term capital gains; shorter holdings are taxed at your slab rate. Large cash purchases require PAN above the prescribed threshold.

None of this is tax advice. For a large transaction, confirm current rules with a chartered accountant.

Silver is more volatile than gold day to day, since it carries a genuine industrial demand component nationally alongside its investment role. Coins and bars in 999 purity carry the lowest making cost and recover the most value on resale, while jewellery in 925 purity carries making charges not recovered on resale.

For most households here, silver's role is less about pure investment and more about the structural festival and gifting tradition it serves, alongside whatever savings value it carries.

Silver in India traded around 37,000 to 40,000 rupees per kilogram in 2015 and 2016, and stayed close to that band through 2018 and 2019. The metal rose steadily after the pandemic, crossing 78,000 rupees per kilogram in 2023.

The RBI's annual average for financial year 2024 to 2025 stood at roughly 89,000 rupees per kilogram, and financial year 2025 to 2026 saw an increase of about 82 percent to roughly 1,62,000 rupees per kilogram. Local rates here have tracked this national curve throughout.

Over the full decade, an investor holding physical silver from 2015 through 2025 saw their holding value roughly triple.

Unlike gold, over half of global silver demand now comes from industry rather than jewellery or investment, chiefly solar panels, electric vehicles, semiconductors and 5G hardware.

India imports over 80 percent of the silver it consumes. In September 2025 the government restricted imports of plain silver jewellery, and in May 2026 raised the import duty on silver bullion, changes that move the domestic price for the whole country independently of the global rate for a period.

The practical approach for most buyers is to purchase against genuine need and timeline rather than trying to time the market.

Silver is more volatile than gold day to day because of its industrial demand component. Over the last decade silver has occasionally outpaced gold in percentage terms during rally phases, though it also falls harder during pullbacks.

Equity markets have historically delivered higher long run returns than precious metals, but with far more volatility. Debt instruments give predictable, lower returns with minimal price risk.

In Daman and Diu, silver's role in a household's savings is usually layered with festival and gifting tradition, not a replacement for equity or debt.

Physical silver, bought as coins, bars or jewellery from a Daman or Diu jeweller, gives you something you can hold, gift or wear, but attracts 3 percent GST, requires safe storage, and jewellery carries making charges not recovered on resale.

Silver ETFs let you hold silver electronically without storage or GST, through a regular demat account. Both physical silver and silver ETFs are taxed the same way, at 12.5 percent on long term capital gains without indexation for holdings over 12 months.

• 999 fine silver: 99.9 percent pure, used for coins and bars
• 925 sterling silver: mixed with copper for strength, the standard for jewellery
• Chandi: the Hindi word for silver, commonly used in local searches; sona means gold
• Making charges: the fee a jeweller adds for crafting a piece
• HUID: the unique six digit hallmark identification number
• IBJA: the India Bullion and Jewellers Association, source of the national reference rate

India imports over 80 percent of the silver it consumes, mostly as bullion cleared through customs before reaching refiners and eventually jewellers in Daman and Diu.

More than half of global silver demand comes from industry rather than jewellery, though Daman and Diu's own economy, driven by tourism and coastal trade, does not itself consume silver at meaningful industrial scale.

Silver retail in Daman and Diu is shaped by Daman's larger jewellery trade near Nani Daman Market, Diu's smaller resident focused trade, and the region's shared Portuguese colonial heritage and coastal festival calendar.

This combination gives the territory's silver market a genuinely distinct character, drawing on Gujarati and locally rooted Portuguese influenced traditions rather than the industrial, migrant workforce driven demand seen in neighbouring Silvassa.

Silver tarnishes when exposed to air and humidity, and the coastal, humid climate across Daman and Diu makes this a genuine concern. Keep pieces in an airtight pouch or box, ideally with an anti tarnish strip.

For larger holdings, a bank locker in Daman remains the most secure option. Keep your original purchase invoice with your stored silver, since it establishes purity, weight and cost basis if you need to sell or claim insurance later.

If you are in Daman or Diu and considering a silver or lab grown diamond jewellery purchase, Lucira offers hallmarked silver and certified lab grown diamond pieces with transparent, itemised pricing and doorstep delivery across India, so you can compare designs and pricing without needing to visit multiple local shops in person.

Every Lucira piece is priced against the live daily rate shown on this page, with making charges and certification costs shown separately.

A proper invoice from a Daman or Diu jeweller should show the net silver weight in grams, the purity, the rate applied per gram that day, the making charge, and GST at 3 percent applied on the metal plus making charge combined.

If a piece carries stones or beads, the invoice should state the net silver weight separately from the gross weight. A hallmarked piece should also show the HUID number, verifiable through the BIS CARE app.

Unlike gold, there is no prescribed ceiling on how much silver an individual can hold in India, provided it is acquired through disclosed, taxed income and you can produce invoices if asked.

Cash payments for a single silver purchase above the prescribed threshold require your PAN card, and payments above two lakh rupees in cash for a single transaction are not permitted regardless of PAN.

• A quoted rate below the day's published benchmark, which usually means lower purity than claimed
• Gross weight billed as if it were net silver weight on stone set or ornamental pieces
• Making charges quoted verbally but not itemised on the final bill

Always confirm the current BIS hallmark and HUID independently through the BIS CARE app rather than taking a seller's word for it.

Many jewellers here, particularly in Daman, offer monthly instalment schemes where you deposit a fixed amount each month for around 11 months, with a bonus instalment added at the end, redeemable against jewellery.

Before joining one, confirm in writing whether redemption is locked at deposit day rates or redemption day rates, and check whether the bonus is forfeited if you exit early.

• Jewellery from a local jeweller: wearable and giftable, but making charges reduce resale value
• 999 coins and bars: lowest making cost, best for pure savings
• Silver ETFs: no storage or GST, held in a demat account

Most households here use a mix, wedding and festive silver bought for its cultural role, and coins, bars or ETFs bought purely as savings.

Under the rules applicable for financial year 2025 to 2026, profit on physical silver or silver ETFs held for more than 12 months is taxed as long term capital gains at 12.5 percent without indexation. Holdings sold within 12 months are taxed at your income tax slab rate.

Your gain is calculated as the sale price minus your original purchase cost, including making charges, which is why keeping your original invoice matters. Confirm current rules with a chartered accountant before a large sale.

Daman, as the larger and more commercially developed town, remains the single most important reference point for silver pricing across the territory. Diu's smaller jewellers price close to this benchmark.

For any significant purchase, comparing making charges across at least two shops, whether in the same town or between Daman and your local Diu jeweller, is a reasonable and common practice.

Daman and Diu's economy runs on tourism, coastal trade and a resident retail base rather than heavy industry, giving the region's silver demand a genuinely different character from Silvassa's industrial, migrant workforce driven market next door.

This distinction is part of why Daman and Diu and Dadra and Nagar Haveli, though sharing a single administration, are covered as separate silver markets on this site.

A mix of established local jewellers and a small number of national retail chains serve Daman, while Diu relies mainly on its own established local jewellers given the island's smaller scale.

This gives Daman buyers a genuine choice between traditional and branded retail formats, while Diu buyers more often rely on established local relationships.

Wedding season demand for silver ornaments and gifting items peaks across Daman and Diu alongside gold, following the broader national wedding calendar rather than any single distinct local tradition.

Jewellers typically stock their widest festive and bridal range in the weeks leading into this window, alongside their Masi Fair and Dhanteras preparations.

Silver and property serve fundamentally different purposes as assets. Property in Daman or Diu requires a large upfront commitment and is illiquid, with coastal property in particular seeing tourism driven appreciation. Silver can be bought and sold in small increments and converted to cash within minutes.

Most households here do not choose between the two. Property tends to serve as a long term family asset, while silver serves as a smaller, liquid holding for weddings and religious occasions.

Daman and Diu shares its union territory administration with Dadra and Nagar Haveli, following their merger in January 2020. If you are comparing rates across the territory, see the live silver rate in Dadra and Nagar Haveli as well.

• Silver rate today in Dadra and Nagar Haveli
• Gold rate today in Daman and Diu
• Platinum rate today in Daman and Diu