Silver Price Today: Silver Trades Near Six-Month Lows; Check Latest Rates Across Major Indian Cities

Silver prices witnessed mixed movement on June 26, with domestic bullion markets, commodity exchanges, and retail jewellery markets reporting different price trends. While some physical markets recorded a decline in rates, silver futures on the Multi Commodity Exchange (MCX) posted modest gains during early trading.

Market experts say that changing global sentiment, fluctuations in the US dollar, and varying demand across domestic markets have contributed to the recent volatility in silver prices. Despite short-term recoveries on futures exchanges, silver continues to trade near its lowest levels in several months.

Silver Prices Show Mixed Trend

According to the All India Sarafa Association, silver prices have fallen to ₹2,26,000 per kilogram (inclusive of taxes), marking one of the lowest levels seen in nearly six months.

However, trading on the Multi Commodity Exchange (MCX) presented a different picture. Silver futures rose by around 0.58% during morning trade, reaching approximately ₹2,20,940 per kilogram, compared with the previous session's closing price of ₹2,19,672 per kilogram.

The contrasting movement reflects the difference between physical bullion demand and futures market sentiment.

Bullion Market and IBJA Rates

Different bullion markets across the country reported silver prices within a broad range of ₹2,14,300 to ₹2,35,000 per kilogram, depending on location and market conditions.

According to the Indian Bullion and Jewellers Association (IBJA), the benchmark silver price on the morning of June 26, 2026, stood at ₹2,16,541 per kilogram.

Since bullion markets remained closed due to the Muharram holiday, these rates continue to serve as the latest available reference prices for the day.

International Silver Prices Under Pressure

Weakness in the global precious metals market has also weighed on silver prices.

Spot silver in the international market slipped to approximately $57.10 per ounce, hovering around its lowest level in nearly six months. Analysts attribute the decline to a stronger US dollar and cautious investor sentiment regarding global economic conditions and interest rate expectations.

These international developments continue to influence domestic bullion prices in India.

Silver Prices by Purity

The value of silver also varies depending on its purity. Below are the latest indicative prices for different grades of silver.

Higher-purity silver generally commands premium prices because it is widely used for investment purposes, bullion bars, and premium jewellery.

Latest Silver Rates in Major Cities

Retail silver prices remain largely uniform across most major Indian cities.

Most northern and western cities continue to report silver prices around ₹2,35,000 per kilogram, while cities such as Chennai, Hyderabad, and Bhubaneswar are quoting prices close to ₹2,30,000 per kilogram.

What Is Driving Silver Prices?

Several factors are influencing silver prices in both domestic and international markets. These include:

• Strength in the US dollar.

• Global economic uncertainty.

• Expectations regarding interest rate decisions by major central banks.

• Industrial demand for silver.

• Investor activity in commodity exchanges.

• Domestic jewellery and bullion demand.

Because silver serves both as an industrial metal and an investment asset, its price often reacts to changes in manufacturing activity as well as broader financial market trends.

Market Outlook

Silver prices are expected to remain volatile in the coming days as investors monitor global economic indicators, inflation data, and movements in the US dollar. Domestic demand from jewellers and industrial users will also play an important role in determining future price trends.

For investors considering silver purchases, experts recommend tracking daily market movements and comparing physical bullion prices with exchange rates before making investment decisions.