Silver Price Today: Silver prices rise; check the rate for 1 kg in these 10 cities, including Delhi and Patna..

Silver Price Today: Silver prices saw an increase on September 23. In the Delhi bullion market, the price of silver stands at ₹2.42 lakh per kilogram (inclusive of all taxes), while according to GoodReturns, the price has reached ₹2,50,000 per kilogram. On the Multi Commodity Exchange (MCX), silver futures rose by 0.29%—an increase of ₹1,430—to reach ₹2,40,750 per kilogram; the metal had closed at ₹2,39,317 per kilogram in the previous trading session.

Prices in the International Market

While silver prices in India reached ₹2,40,000 per kilogram, international market prices climbed by over 1% to stand at $67.360 per ounce. During the session, the metal traded between $68.055 and $67.240 per ounce.

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

According to GoodReturns, silver prices in major cities across the country are hovering around the ₹2,49,900–₹2,54,900 per kilogram range. Minor variations may be observed in some cities due to local market conditions and taxes. 
City    Price of 1 kg of Silver
Delhi    ₹2,49,900
Mumbai    ₹2,49,900
Kolkata    ₹2,49,900
Chennai    ₹2,54,900
Lucknow    ₹2,49,900
Patna    ₹2,49,900
Jaipur    ₹2,49,900
Ahmedabad    ₹2,49,900
Pune    ₹2,49,900
Bengaluru    ₹2,49,900
Hyderabad    ₹2,49,900
Bhopal    ₹2,49,900
Chandigarh    ₹2,49,900
Noida    ₹2,49,900
Gurugram    ₹2,49,900

On Wednesday, silver strengthened to around $67; however, both metals remain under pressure due to the US dollar and US Treasury yields remaining high. Traders still anticipate that the Fed might consider another rate hike; consequently, expectations hinge on whether oil prices continue to fall and whether negotiations progress. If oil prices surge or expectations for a rate hike rise, both metals could come under pressure again.

What is the outlook for silver?

N.S. Ramaswamy, Head of Commodities and CRM at Ventura, stated that the white metal is likely to stabilize between $63 and $75 per ounce, albeit with the potential for significant volatility. It remains in a state of balance driven by fluctuations in interest rates and the dollar. 

Ramaswamy said, "Amidst macroeconomic headwinds, downside support remains around $64.50 per ounce. Medium-term price targets could range from $75 to $80 per ounce (Rs 3,25,000 per kg on MCX) if there are signs of easing inflation, Fed rate cuts, stable solar demand, and a weaker US dollar. With high interest rates, silver may consolidate within the $60–$63 per ounce range (Rs 2,25,000 per kg on MCX). Silver prices are currently volatile, trading around $64–$66 per ounce (Rs 2,35,000–Rs 2,38,000 per kg on MCX)."

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