Silver Price Today: Silver Becomes Cheaper on Dhanteras 2026; Check Latest Rates and Hallmarking Rules

Silver Prices Fall on Dhanteras 2026

Silver prices declined on Friday, November 6, 2026, coinciding with the festival of Dhanteras. The fall offered festive shoppers an opportunity to purchase the precious metal at a lower benchmark rate compared with the previous day.

According to the India Bullion and Jewellers Association (IBJA), the indicative rate for 999-purity silver stood at ₹1,81,863 per kilogram on November 6. On November 5, the corresponding rate was ₹1,87,300 per kilogram.

This represents a decrease of approximately ₹5,437 per kilogram in a single day.

Latest IBJA Silver Rates: November 2 to November 6

The IBJA rates show fluctuations in silver prices over the first week of November 2026.

DateSilver rate per kgNovember 6, 2026₹1,81,863November 5, 2026₹1,87,300November 4, 2026₹1,86,133November 3, 2026₹1,76,425November 2, 2026₹1,79,972

These are indicative benchmark rates for 999-purity silver. The final retail price may differ depending on the seller, product type and additional charges.

Why Buyers Should Compare Silver Prices

A fall in the benchmark silver rate does not necessarily mean that every silver product will become cheaper by the same amount.

Jewellers may add several costs to the base metal price, including:

• Making charges: The cost of manufacturing jewellery or other silver items.

• Goods and Services Tax (GST): Applicable taxes on the purchase.

• Other applicable charges: Costs may vary according to the product and seller.

Therefore, consumers should compare the final billed price across different jewellers instead of relying only on the IBJA benchmark rate.

Is Silver Hallmarking Mandatory in India?

Silver hallmarking in India has been available on a voluntary basis since October 2005. The Bureau of Indian Standards (BIS) provides a system to identify the purity and authenticity of silver jewellery and artefacts.

The hallmarking system also incorporates a Hallmark Unique Identification (HUID) mechanism to improve traceability.

Consumers should ask the jeweller for hallmarking details and check that the purity information on the product matches the details provided at the time of purchase.

What Are the BIS Silver Purity Grades?

The BIS recognises eight silver fineness grades:

• 800

• 835

• 900

• 925

• 958

• 970

• 990

• 999

The numbers indicate the silver content in parts per thousand. For example, 925 silver contains 92.5% silver, while 999 silver contains 99.9% silver.

The purity grade can influence the price, durability and suitability of a silver item. Buyers should select a grade based on whether they are purchasing jewellery, utensils, coins or investment bars.

Silver Hallmarking Charges

According to the charges cited in the Economic Times report, jewellers pay recognised Assaying and Hallmarking Centres (AHCs) ₹35 per silver article, subject to a minimum consignment fee of ₹150. A separate BIS levy of ₹3.50 per silver article, subject to a minimum of ₹15 per consignment, is applicable to AHCs. Taxes may be charged additionally as per prevailing rules.

These are charges associated with the hallmarking process and should not be confused with the total retail price of a silver product.

What Should Buyers Check Before Purchasing Silver?

Consumers planning to purchase silver on Dhanteras or during the Diwali season should take a few precautions:

1. Check the latest benchmark silver rate before visiting a jewellery store.

2. Confirm the purity grade of the product.

3. Ask whether the item carries a BIS hallmark and HUID details, where applicable.

4. Compare making charges and the final price across jewellers.

5. Check the product weight and request a detailed purchase invoice.

6. Keep the bill safely for future exchange, resale or service requirements.

Dhanteras Shopping: Check the Final Price Before Buying

The decline in silver prices on Dhanteras 2026 has drawn attention from consumers looking to purchase jewellery, coins, bars and household items. However, the benchmark rate is only one part of the final purchase cost.

Buyers should check purity, hallmarking details, making charges and applicable taxes before completing a transaction. Comparing the final price from multiple sellers can help consumers make a more informed festive purchase.