What Drives Silver Prices: Understanding Purity and Pricing

The purity of silver is often 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. The most common grades used in jewellery and household items are fine silver (99.9% Pure), sterling silver (92.5% Pure), Britannia Silver (95.8% Pure), and Coin Silver (90% Pure).

The daily silver rate you see online is just a benchmark, and the final showroom price will always be higher due to making charges and GST.