Silver Price Today: Silver Gains Momentum, Check Latest Rates From 10 Grams to 1 Kilogram
Silver prices witnessed an upward trend in the domestic market on Tuesday, June 23, offering important cues for buyers planning to purchase silver jewellery, coins, utensils, or investment-grade bullion. The precious metal continued to attract attention amid fluctuations in global commodity markets and changing investor sentiment.
According to market data, silver prices traded higher across several benchmarks, while international spot silver prices also recorded gains. With rates varying slightly across cities and market segments, buyers are advised to check the latest prices before making a purchase.
Silver Prices Rise in Domestic Markets
The domestic silver market opened on a positive note, with prices moving higher compared to previous sessions.
According to the All India Sarafa Association, silver was quoted at approximately ₹2,45,500 per kilogram, including taxes.
Meanwhile, on the Multi Commodity Exchange (MCX), silver futures were trading around ₹2,34,465 per kilogram during morning trade, registering a gain of about 0.55% over the previous close.
The rise reflects improving sentiment in the precious metals segment and continued interest from traders and investors.
International Silver Prices Also Strengthen
Global silver prices also moved higher.
Spot silver in international markets was trading near $66.47 per ounce, indicating sustained demand in overseas markets. International trends often influence domestic silver prices, along with factors such as currency movements, import costs, and industrial demand.
Latest Silver Rates Across Major Indian Cities
Here are the latest retail silver prices in key cities across India:
| City | 10 Grams | 100 Grams | 1 Kilogram |
|---|---|---|---|
| Delhi | ₹2,500 | ₹25,000 | ₹2,50,000 |
| Mumbai | ₹2,500 | ₹25,000 | ₹2,50,000 |
| Kolkata | ₹2,500 | ₹25,000 | ₹2,50,000 |
| Chennai | ₹2,550 | ₹25,500 | ₹2,55,000 |
| Patna | ₹2,500 | ₹25,000 | ₹2,50,000 |
| Lucknow | ₹2,500 | ₹25,000 | ₹2,50,000 |
| Jaipur | ₹2,500 | ₹25,000 | ₹2,50,000 |
| Ahmedabad | ₹2,500 | ₹25,000 | ₹2,50,000 |
| Pune | ₹2,500 | ₹25,000 | ₹2,50,000 |
| Bengaluru | ₹2,500 | ₹25,000 | ₹2,50,000 |
| Hyderabad | ₹2,550 | ₹25,500 | ₹2,55,000 |
| Bhubaneswar | ₹2,550 | ₹25,500 | ₹2,55,000 |
| Cuttack | ₹2,550 | ₹25,500 | ₹2,55,000 |
| Kerala | ₹2,550 | ₹25,500 | ₹2,55,000 |
Most major cities reported silver prices at ₹2.50 lakh per kilogram, while Chennai, Hyderabad, Bhubaneswar, Cuttack, and Kerala continued to trade at slightly higher levels of ₹2.55 lakh per kilogram.
Why Are Silver Prices Rising?
Several factors influence silver prices on a daily basis.
Global Market Trends
Movements in international precious metals markets often impact domestic pricing.
Industrial Demand
Silver is widely used in industries such as:
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Electronics
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Solar panels
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Electric vehicles
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Medical equipment
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Telecommunications
Strong industrial demand can provide support to prices.
Currency Movements
A weaker rupee generally makes imported silver more expensive, which can push domestic prices higher.
Investment Demand
During periods of economic uncertainty, investors often increase allocations to precious metals, including silver.
Silver's Performance in Recent Sessions
Silver has experienced significant volatility in recent trading sessions.
According to market reports:
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Silver gained ₹4,800 per kilogram in the previous session.
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Before that, prices had fallen sharply by over ₹8,000 per kilogram.
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The metal has continued to witness strong fluctuations driven by global commodity trends and investor activity.
Such movements highlight the importance of monitoring prices before making large purchases.
Should You Buy Silver Now?
Silver remains a popular choice for both consumption and investment purposes.
People typically buy silver for:
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Jewellery
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Coins and bars
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Wedding gifts
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Religious ceremonies
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Long-term wealth diversification
However, buyers should consider market volatility and compare rates across multiple dealers before making a purchase.
Tips for Silver Buyers
Before purchasing silver, keep the following points in mind:
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Verify purity and certification.
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Compare prices from different jewellers and bullion dealers.
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Check applicable GST and making charges.
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Monitor international market movements.
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Consider long-term investment goals rather than short-term price fluctuations.
Outlook for Silver Prices
Analysts believe silver may continue to remain sensitive to developments in global markets, industrial demand trends, and currency fluctuations.
As demand for clean energy technologies, electric vehicles, and electronics continues to grow, silver's industrial importance could remain a long-term supportive factor for prices.
Conclusion
Silver prices traded higher on June 23, with most major Indian cities reporting rates around ₹2.50 lakh per kilogram, while select markets such as Chennai and Hyderabad saw prices reach ₹2.55 lakh per kilogram. Supported by international market gains and ongoing demand, silver continues to remain an important asset for both consumers and investors.
Anyone planning to purchase silver jewellery, coins, or bullion should check the latest rates and compare offers before finalizing their purchase.
