Commodities
What Drives Silver Prices and Purity Standards
Silver purity is typically expressed as fineness, indicating the percentage of pure silver in an alloy. For example, 999 fineness means 999 parts out of 1000 are pure silver.
Fine silver contains 99.9% silver content with minimal impurities and is considered the purest form available to consumers. Sterling silver, on the other hand, contains 92.5% silver and 7.5% other metals, usually copper.
The daily silver rate you see online is just a benchmark, and the final showroom price will always be higher due to making charges, GST, and stone deductions for studded jewellery.