Silver Price Today: Silver gets cheaper; check the price of 1 kg from Mumbai to Chennai for September 17..

Silver Price Today: The US Fed's interest rate hike has impacted silver prices today. International prices are down sharply. In India, silver prices have dropped and are hovering around ₹2.32 lakh per kilogram, whereas the metal closed at ₹2,34,786 per kg in the previous trading session. According to bullion market data, the price stood at ₹2,35,140 per kg, while GoodReturns reported a drop to ₹2,45,000 per kg. Read on to find out the latest silver rates in various cities across the country.

**Drop in International Market Prices**

Prices of both gold and silver have fallen sharply in the international market (Comex). According to Comex data, at the time of writing, gold had dropped by 1.47% to reach $4,322.80 per ounce. Meanwhile, silver prices fell by 1.69%, trading at $63.820 per ounce.

**Silver Rates Today in Major Cities (Including Delhi and Mumbai)**

According to GoodReturns, silver prices in major Indian cities are hovering around ₹2.45–₹2.50 lakh per kilogram. Minor variations may be observed in some cities due to local market conditions and taxes.

City    Price of 1 kg of Silver
Delhi    ₹2,45,000
Mumbai    ₹2,45,000
Kolkata    ₹2,45,000
Chennai    ₹2,50,000
Lucknow    ₹2,45,000
Patna    ₹2,45,000
Jaipur    ₹2,45,000
Ahmedabad    ₹2,45,000
Pune    ₹2,45,000
Bengaluru    ₹2,45,000
Hyderabad    ₹2,45,000
Bhopal    ₹2,45,000
Chandigarh    ₹2,45,000
Noida    ₹2,45,000
Gurugram    ₹2,45,000

Silver Price Trend

Silver prices in the national capital's bullion market surged on Wednesday—after remaining stable for two consecutive sessions—driven by speculative buying from traders following an improvement in market sentiment amidst a drop in crude oil prices. The price rose by ₹7,000 to reach ₹2.42 lakh per kilogram (inclusive of all taxes), up from the previous closing level of ₹2,34,600 per kilogram. In the global market, spot silver rose by 1.5 percent to $64.61 per ounce.

Silver's Return Performance

Silver prices have seen a sharper rise compared to gold. According to bullion data, the price of silver has increased by 85.49% over the past year. A year ago, the price of silver was approximately ₹1,26,850 per kilogram, whereas it currently stands at ₹2,35,140. This rise implies that if ₹1 lakh had been invested in gold a year ago, its value based on bullion rates would be approximately ₹1.39 lakh, whereas the same amount invested in silver would be worth around ₹1.85 lakh (excluding transaction costs and taxes).

Customers should not mistake the bullion rate for the final price of the jewelry. The amount payable to the jeweler could be higher once making charges, GST, and other applicable expenses are added.

Disclaimer: This content has been sourced and edited from Money Control. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.