Silver Rate Today in Ludhiana – 7 Nov 2026, 1 AM IST

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

Ludhiana, the Manchester of India for its hosiery and bicycle manufacturing, has a silver market shaped by Karva Chauth, a ritual that specifically requires silver items, a large NRI population that buys jewellery on home visits, and genuine silver brazing demand from its metal fabrication workshops. This page covers today's rate, how it is set, making charges and GST, purity verification, where to buy and sell, Ludhiana's distinctive silver demand drivers, the buying calendar, taxation and a detailed FAQ.

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

Karva Chauth items and everyday jewellery tend toward lighter weights, while coins bought for Dhanteras and Lohri follow standard denominations.

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

Read the net movement from the earliest session to today, the high and low that define the trading range, and whether daily changes are small and steady or large and alternating. Silver swings harder in percentage terms than gold on the same news, so expect a wider range here than on a gold rate page over the same ten days.

The trend table sets today's Ludhiana 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 industrial demand, ETF investment flows and the gold to silver ratio.

Ludhiana tracks the national IBJA benchmark, with local demand shaped by Punjab's manufacturing economy, wedding culture and a globally connected diaspora.

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. Ludhiana's jewellers price against the national IBJA reference rate, adding a modest local premium.

Ludhiana's famous industries, hosiery, bicycles and sewing machines, use steel, aluminium and fibres rather than silver. The one genuine link is silver brazing, used in hand tools, auto parts and metal fabrication workshops across the city to join metal components.

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, Karva Chauth brings a distinctive wave of silver buying tied to a specific ritual requirement, and Ludhiana's large NRI population, concentrated in Canada and the UK, adds jewellery purchases whenever families visit home, a pattern most Indian cities do not have at this scale.

999 fine silver is 99.9 percent pure and is the form used for investment coins and bars, popular during Dhanteras.

925 sterling silver, 92.5 percent pure with the remainder mostly copper, is the standard for the jewellery bought for Karva Chauth and everyday wear, including items brought home by visiting NRI families.

Confirm which purity a quote refers to before comparing shops; the two are not interchangeable in price.

The rate on this page is the metal price. What you pay at the counter adds making charges, then GST at 3 percent on the total of metal plus making.

What making charges run in Ludhiana

• Silver coins | roughly 3 to 8 percent
• Karva Chauth and everyday jewellery | roughly 8 to 18 percent
• Bridal and gifting sets | roughly 10 to 20 percent

A worked example: a 40 gram silver Karva Chauth set 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.

Silver hallmarking is not yet as universally enforced as gold hallmarking, so buyer diligence matters more here.

• Look for a BIS hallmark stamp where the piece carries one
• Ask the jeweller to weigh the piece in front of you and confirm the purity claim against the day's rate
• For a larger purchase, ask for an acid or electronic purity test before paying

Buying from an established sarafa bazaar jeweller with a GST invoice is the safer route.

Ludhiana's silver demand runs on a genuinely Punjab-specific calendar, not just the national one.

Karva Chauth, a ritual requirement

Karva Chauth is a major silver-buying occasion in Ludhiana because the ritual itself calls for specific silver items, a demand driver that cities outside North India simply don't have on the same calendar.

The Sikh kara adds a religious dimension

Alongside the traditional iron or steel kara, a silver kara market exists in Ludhiana tied to Sikh religious observance, a category of demand distinct from festival or wedding buying.

Two very different retail identities

Chaura Bazaar and New Sarafa Bazaar near the Clock Tower carry traditional silver designs alongside 925 sterling pieces, while Ghumar Mandi shops like Deepsons and Elotic focus on contemporary silver, Italian chains and CZ-set designs aimed squarely at younger buyers, a generational split in taste that's unusually visible in Ludhiana's retail map.

The NRI remittance effect

Ludhiana has a large NRI population concentrated in Canada and the UK, and jewellery purchases are routinely part of home visits, adding a demand layer funded by remittance income rather than local wages alone.

Ludhiana's silver trade is concentrated around the old city.

• Sarafa bazaar near the Clock Tower | the city's main jewellery trading area

What to check wherever you buy

• BIS hallmark where the piece carries one
• 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 a sarafa bazaar jeweller near the Clock Tower, ideally the one who sold it, with the piece weighed and purity-tested in front of you. Avoid unlicensed street buyers regardless of the rate promised.

Silver buying in Ludhiana follows a North Indian calendar with several Punjab-specific additions.

• Dhanteras and Diwali | the biggest annual peak
• Karva Chauth | a major occasion given the ritual's specific silver requirement
• Raksha Bandhan, Lohri and Baisakhi | further seasonal peaks
• Winter wedding season | steady demand, with NRI family visits adding to it

This combination of festival demand, wedding buying and NRI spending gives Ludhiana's market steady activity across most of the year.

Taxes on silver are set nationally, so nothing here is specific to Ludhiana, but three layers matter to every buyer.

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, and your original invoice establishes the cost basis. Large cash purchases require PAN above the prescribed threshold.

None of this is tax advice; thresholds and rates change with the Finance Act. 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. That makes it higher risk, higher potential reward, not a straightforward substitute for gold.

In Ludhiana specifically, when gold gets expensive enough to change buying plans, many families switch to silver coins rather than gold jewellery, a shift observed clearly during Dhanteras. Coins and bars in 999 purity carry the lowest making cost and recover the most value on resale; jewellery in 925 carries making charges you do not recover.

For most Ludhiana households the practical split is: festive and Karva Chauth silver bought for its own significance, and separately, simple 999 coins or small bars bought purely as savings.

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, the sharpest annual rise in the modern data series. MCX spot silver briefly touched close to 3,59,000 rupees per kilogram in January 2026 before correcting.

Over the full decade, an investor holding physical silver from 2015 through 2025 saw their holding value roughly triple, before the sharp further move into 2026. Ludhiana's local rates have tracked this national curve throughout, since the city prices off the same national IBJA benchmark as the rest of India.

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. This structurally tighter supply picture is a genuine difference from gold, and it is a major reason silver has moved more sharply than gold in recent years.

India is the world's largest consumer of silver and imports over 80 percent of its requirement. In September 2025 the government restricted imports of plain silver jewellery to curb duty evasion, and in May 2026 raised the import duty on silver bullion. Policy changes like these can move the domestic price independently of the global rate for a period.

Whether rates in Ludhiana fall from current levels depends on factors nobody can predict with certainty, including global interest rates, industrial demand growth and rupee movement. Anyone telling you they know the answer with confidence is guessing. The practical approach is to buy against your own 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, which means larger swings in both directions. Over the last decade silver has actually 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 tied to company and economic performance rather than metal supply and demand. Debt instruments such as fixed deposits and bonds give predictable, lower returns with minimal price risk.

None of these asset classes is a straightforward substitute for another. Silver's role in a Ludhiana household's savings is usually as a small, liquid, culturally familiar holding alongside other assets, not a replacement for equity or debt.

Physical silver, bought as coins, bars or jewellery from a Ludhiana jeweller, gives you something you can hold, gift or wear, but it attracts 3 percent GST at purchase, requires safe storage, and jewellery carries making charges you do not recover on resale.

Silver ETFs, listed on the NSE and BSE, let you hold silver electronically without storage concerns or GST on the transaction, and can be bought and sold 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, under the rules applicable for financial year 2025 to 2026.

Unlike gold, India currently has no sovereign bond equivalent for silver, so ETFs and physical metal remain the two main routes for most Ludhiana investors.

India imports over 80 percent of the silver it consumes, mostly as bullion classified under HS Code 7106, cleared through customs and the ICEGATE electronic filing system before reaching refiners, bullion dealers and eventually jewellers in cities like Ludhiana, whose large hosiery, bicycle and small scale manufacturing base gives the city broad familiarity with metal trading generally.

Import policy has shifted more than once recently. Silver bullion duty was cut to 6 percent in 2025 to curb smuggling, plain silver jewellery imports were restricted from September 2025 to limit duty evasion through trade agreements, and bullion duty was then raised again in May 2026. Because these rules change, the duty in effect at any given time should be confirmed rather than assumed.

More than half of global silver demand today comes from industry rather than jewellery, with solar panels, electric vehicles, semiconductors and medical devices among the largest consumers. This industrial pull is a genuine structural difference from gold and a real driver of silver's price behaviour.

• 999 fine silver: silver that is 99.9 percent pure, used for coins and bars
• 925 sterling silver: silver mixed with copper for strength, the standard for jewellery
• Hansli: a rigid, U-shaped silver collar necklace traditional to Punjab, with a history dating back roughly 2,300 years
• Making charges: the fee a jeweller adds for crafting a piece, on top of the metal value
• Hallmark: the BIS purity certification mark stamped on eligible pieces
• HUID: the unique six digit hallmark identification number used to trace a certified piece
• Tola: a traditional unit of weight equal to approximately 11.66 grams
• IBJA: the India Bullion and Jewellers Association, source of the national reference rate
• MCX: the Multi Commodity Exchange, where silver futures trade in India
• LTCG: long term capital gains, the tax on profit from silver held beyond the qualifying period
• Silver ETF: an exchange traded fund that holds physical silver and trades like a stock

Ludhiana's jewellery trade in Chaura Bazaar dates to a 19th century market established on the bank of the Sutlej River, its name literally meaning wide market, a description that suited its once spacious streets even though they have narrowed considerably as the city grew.

Punjab's silver jewellery heritage is genuinely ancient, most visibly in the hansli, a rigid U-shaped collar necklace resting on the collarbone whose history in the region traces back to around 300 BC, traditionally cast in silver and still recognisable in Chaura Bazaar's jewellery today.

Nationally, rising silver prices through 2024, 2025 and 2026 have made buyers more price sensitive, and jewellery volumes in weight terms have come under pressure even where spending in rupee terms held steady. This national pattern is a reasonable guide to Ludhiana's own retail trade, though silver coin sales specifically surged 35 to 40 percent during Dhanteras 2025 nationally, a trend Ludhiana's markets shared in.

What has held up in Ludhiana is festive and wedding buying, along with steady demand from the city's diverse economic base, spanning factory owners, small manufacturers, IT professionals, government employees and families with members working abroad, all of whom find silver an accessible way to hold physical metal without gold's higher cost per gram. Investment buying of coins and bars has also grown as a share of demand, matching the national shift toward silver as a savings vehicle.

Silver and property serve fundamentally different purposes as assets, and comparing them directly can be misleading. Property in Ludhiana requires a large upfront commitment, carries registration and stamp duty costs, and cannot be sold in part if you need only a portion of your money back. Silver can be bought and sold in small increments, from a single gram upward, and converted to cash at a jeweller within minutes.

Property can generate rental income and tends to appreciate with local development, but it is illiquid and requires ongoing maintenance. Silver generates no income and must be stored securely, but it carries no maintenance burden and its value is set by a transparent national benchmark rather than local negotiation. Ludhiana's manufacturing community, well versed in input price inflation, often views silver as a practical hedge given how much less capital it requires than gold.

Most Ludhiana households 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 near term needs and cultural occasions.

If you are in Ludhiana 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 navigate Chaura Bazaar's narrow lanes.

Every Lucira piece is priced against the live daily rate shown on this page, with making charges and certification costs shown separately, the same transparency you should expect from any established jeweller in Ludhiana.

A proper invoice from a Ludhiana jeweller should show five separate lines: the net silver weight in grams, the purity, the rate applied per gram that day, the making charge as a percentage or flat fee, 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, since you should only be charged the silver rate on the silver itself, not on the stones. Ask for this breakdown before paying if it is not shown automatically.

A hallmarked piece should also show the HUID number on the invoice, which lets you verify the certification independently through the BIS CARE app.

• 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, especially on stone set pieces
• Making charges quoted verbally but not itemised on the final bill
• Pressure to buy quickly in Chaura Bazaar's narrow, crowded lanes without time to compare rates
• No willingness to weigh the piece in front of you before billing

Local sources specifically stress that knowing purity is important before buying silver in Ludhiana, so always confirm the hallmark and HUID independently rather than taking a seller's word for it.

Silver tarnishes when exposed to air and humidity, unlike gold, so storage matters more. Keep pieces in an airtight pouch or box, ideally with an anti tarnish strip, away from direct sunlight and humid areas of the house.

For larger holdings of coins or bars, a bank locker remains the most secure option, though it carries an annual rental cost that should be weighed against the value stored. A home safe is a reasonable middle ground for smaller quantities, provided it is fixed and insured.

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.

Many jewellers in Ludhiana, including established names in Chaura Bazaar and Ghumar Mandi, offer monthly instalment schemes where you deposit a fixed amount each month for a set period, typically 11 months, and the jeweller adds a bonus instalment or discount at the end, redeemable against silver or gold jewellery.

Before joining one, confirm in writing whether the redemption value is locked at the rate on the day of each deposit or the rate on the day of redemption, since this materially changes the scheme's value, and check whether the bonus is forfeited if you exit early or miss an instalment.

These schemes are not regulated the way bank deposits are, so only join one with an established, well known jeweller.

• Traditional silver like the hansli collar from Chaura Bazaar: culturally significant, making charges reflect craftsmanship
• Designer 925 CZ silver and Italian chains from Ghumar Mandi: contemporary styles, generally higher making charges
• 999 coins and bars: lowest making cost, best for pure savings, requires storage, popular with Ludhiana's manufacturing workforce as an affordable entry point
• Silver ETFs: no storage or GST, held in a demat account, cannot be worn or gifted physically
• Digital silver apps and MCX futures: for savings and active trading respectively

Most Ludhiana households use a mix, jewellery for weddings and festivals, and coins, bars or ETFs for pure savings, rather than picking one route exclusively.

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 as short term gains at your income tax slab rate.

Your gain is calculated as the sale price minus your original purchase cost, including making charges you paid, which is why keeping your original invoice matters. A 4 percent health and education cess applies on top of the tax, along with any applicable surcharge.

Tax rules change through Finance Act amendments most years, so confirm the current holding period and rate with a chartered accountant before a large sale, rather than relying on this or any other page.

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 to be furnished to the jeweller, and payments above two lakh rupees in cash for a single transaction are not permitted under income tax rules regardless of PAN. Paying digitally or by cheque avoids this limit entirely and is the more practical route for larger purchases.

Always retain your purchase invoices in Ludhiana, since they are your primary evidence of legitimate ownership if silver holdings are ever questioned.

Chaura Bazaar, the city's main and oldest market on the banks of the Sutlej, remains the traditional heart of Ludhiana's jewellery trade, with a dedicated Sarafan Bazaar section and shops like Shiv Jewellers on Mandir Wali Gali, and is generally where you will find the widest selection of traditional silver.

Ghumar Mandi has emerged as the modern silver shopping area, with specialists like Natraj Jewellers focused on designer silver and pure silver utensils, alongside College Road shops known for 925 CZ silver and Italian chains.

For any significant purchase, visiting two or three shops in Chaura Bazaar or Ghumar Mandi to compare making charges and designs before deciding is a reasonable and common practice among local buyers.