Silver Prices Driven by Global Macroeconomic Trends and Purity Levels

Silver is often expressed in terms of its fineness, which indicates the percentage of pure silver in an alloy. For instance, 999 fineness means that 999 out of every 1000 parts are pure silver.

The purity of silver can be categorized into several types: fine silver (99.9% pure), sterling silver (92.5% pure), Britannia silver (95.8% pure), and coin silver (90% pure).

When purchasing silver, the final showroom price is typically higher than the daily rate due to making charges, GST, and stone deductions for studded silver jewellery.