Historical Silver Prices in India (1990–2025)

 The price of silver in India has experienced significant fluctuations from 1990 to 2025, influenced by global market dynamics, currency exchange rates, and domestic economic factors. Here's an overview of the annual average silver prices in India during this period:

🔍 Key Trends and Observations

• 1990s: Silver prices remained relatively stable, averaging between ₹6,000 and ₹8,000 per kg.

• Early 2000s: A gradual increase was observed, with prices reaching around ₹11,770 per kg by 2004.

• 2006–2011: Significant growth occurred, culminating in a peak of ₹56,900 per kg in 2011, influenced by global economic uncertainties and increased investment demand.

• 2012–2019: Prices fluctuated, generally trending downward, stabilizing between ₹36,000 and ₹43,000 per kg.

• 2020–2025: A sharp increase was noted, with prices peaking at ₹95,700 per kg in 2024, before a slight correction to ₹92,500 per kg in 2025. This surge can be attributed to heightened demand and market volatility during global events.

📊 Recent Monthly Trends

In December 2024, the average silver price in Mumbai was ₹89,265 per kg, slightly down from ₹90,230 in November 2024. The highest recorded price was ₹93,352 per kg in October 2024. 

As of March 2025, silver prices showed an upward trend, with rates reaching ₹98,300 per kg on March 15, 2025.

🌐 Global Context

Globally, silver prices have mirrored similar trends. For instance, in 2025, the average silver price was $31.63 per ounce, marking a 16.17% increase from the previous year.