Silver Holds Steady Across India at ₹250 per Gram; South Commands Premium

Mumbai, April 7: Silver rates in India held steady on Tuesday, with the metal quoted at ₹250 per gram or ₹2,50,000 per kilogram across most cities, as global markets processed a mix of geopolitical uncertainty and cautious investor sentiment. The precious metal has maintained a broadly flat trajectory in recent sessions, consolidating after last week’s correction, with traders watching global cues closely before taking fresh directional bets on bullion.

The most notable feature of today’s silver pricing is the regional split between South India and the rest of the country. Chennai, Hyderabad and Kerala are all quoting silver at a premium of ₹5 per gram — at ₹255 per gram or ₹2,55,000 per kilogram — against the national baseline of ₹250 per gram. This South Indian premium is a well-established structural feature of India’s bullion markets, driven by historically stronger jewellery fabrication demand, higher consumption of silver in religious and ceremonial use, and local supply-chain cost factors that consistently push southern city rates above the national average.

Uniform Rates Accross Country

Across the remaining major cities, rates are uniformly aligned at the national baseline. Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara and Ahmedabad are all quoting silver at ₹250 per gram, with no change recorded from the previous session. The absence of meaningful divergence between these cities reflects the well-integrated nature of India’s bullion distribution network, where price signals from the national market transmit quickly and consistently across the western, northern and eastern regions.

Market participants note that silver continues to behave differently from gold in the current environment. While gold faces downward pressure from profit-booking following its strong early-2026 rally, silver is finding a floor at current levels — partly because it has already corrected more sharply in recent weeks and partly because its dual role as both an industrial and precious metal gives it a slightly different demand profile. Traders remain watchful of global manufacturing data and energy market developments, both of which tend to influence silver’s industrial demand outlook more directly than they affect gold.

The Iran-US conflict continued to cast a shadow over global commodity markets on Tuesday, as Iran rejected a US ceasefire proposal conveyed through mediator Pakistan, insisting on a permanent end to the war rather than a temporary truce. US President Donald Trump dismissed the Iranian response and declared his Tuesday evening deadline — for Iran to reopen the Strait of Hormuz — final and non-negotiable. The standoff has kept energy markets on edge and introduced a layer of uncertainty that is limiting directional conviction across precious metals, including silver.

Gold Rates in Metro Cities

Gold prices in India’s major metro cities declined on Tuesday across all purity levels, with the national rate for 24K gold settling at ₹14,984 per gram. Chennai retained its position as the most expensive market for gold, with 24K quoted at ₹15,120 per gram, 22K at ₹13,860 and 18K at ₹11,560 — a premium that reflects the city’s outsized role in India’s gold jewellery economy. In Mumbai, 24K gold was available at ₹14,984 per gram, 22K at ₹13,735 and 18K at ₹11,238, in line with the national average. Delhi traded marginally higher at ₹14,999 for 24K, ₹13,750 for 22K and ₹11,253 for 18K, while Kolkata mirrored Mumbai’s rates exactly across all three purity categories.

Source: Goodreturns.in