Silver Rates in Amritsar Surge to ₹224 Per Gram on Strong Local Demand

As of 5th October 2026, the silver rate in Amritsar stands at ₹224 per gram, ₹2,241 per 10 grams, or ₹2,24,100 per kilogram. These prices can fluctuate due to factors like purity, market movements, demand, GST, and dealer charges.

Several factors influence the silver rate in Amritsar. Import duties and a 3% GST on locally bought silver add to the cost. The city's high foot traffic, particularly at the Golden Temple, drives significant local demand for silver coins, religious items, and devotional pieces. Weddings and the economically active population further boost this demand.

Silver prices in Amritsar are also correlated with gold prices. When gold becomes expensive, many buyers shift to silver as a more affordable alternative. Industrial demand, though not as significant as in other cities, is fueled by the craft sector, particularly silversmithing workshops supplying the religious trade and bridal jewellery market.

Amritsar offers a variety of silver products, including jewellery, coins, bars, religious items, and utensils. Major markets like Hall Bazaar and Katra Jaimal Singh provide a wide range of options. Buyers should verify the purity of silver items, with 999 fine silver being the standard for investment-grade coins and bars, and 925 sterling silver for jewellery.

When purchasing silver, it's essential to insist on a detailed tax invoice. Cash transactions over ₹2 lakh require PAN card details, and a 3% GST applies to all purchases. Silver is seen as a good investment in Amritsar, serving as an affordable entry point for precious metals, a hedge against inflation, and a culturally significant item.