Silver Price Today, July 8, 2026: Silver Price Slips Marginally; Check Rates in Hyderabad, Kerala

Mumbai, July 8: National silver price for 10 grams eased marginally to Rs 2,449 (Rs 244.90 per gram or Rs 2,44,900 per kg) Wednesday down Re 1 from Rs 2,450 quoted for 10 grams on Tuesday.

Tuesday saw silver prices fall Rs 49 or about 2 per cent in a single session after rallying smartly in the previous two volatile sessions of the week. While national silver prices move in tandem with international prices, daily price direction is also influenced by variations in global demand for industrial consumption of silver, US dollar movement and risk sentiment in global markets.

“If you discount volatility in day-to-day prices and investment demand-related sentiment-linked movement, silver, unlike gold, gets additional support from sustained industrial offtake, primarily from electronics and solar panel manufacturing sectors,” say traders.

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Silver price in India is determined by international prices depending upon demand and supply. Throughout the day, the benchmark wholesale gold price set by the India Bullion and Jewellers Association (IBJA) moves in both directions.

Compared to rates seen on Monday, silver prices have weakened in most markets this week. Silver prices in Mumbai, Kolkata, Bangalore and Pune retreated Rs 50 each to Rs 2,449 per 10 grams from Rs 2,499 quoted on Monday, while Delhi, Vadodara and Ahmedabad were marked down marginally sharper by Rs 51 each to Rs 2,448 per 10 grams from Rs 2,499. Chennai has seen the sharpest correction this week, down Rs 100 to Rs 2,499 per 10 grams from Rs 2,599 seen on Monday.

Hyderabad and Kerala that had fallen Rs 58 and Rs 49, respectively, on Tuesday against Monday have returned to their Monday level premium of Rs 2,499 per 10 grams Wednesday (still down Rs 100 from Monday but Rs 49 higher than Tuesday), making these two states with Chennai the most expensive to buy silver in India today.

Also Read: How to Invest in Silver: 6 Best Ways (2026) 

Rest of Mumbai, Kolkata, Bangalore, Pune, Delhi, Vadodara and Ahmedabad are closely packed in Rs 2,448-2,449 range showing little change from Tuesday even as they remain lower than the start of the week on Monday. As always, please note that the above prices are indicative. The price that is actually offered to a customer by a jeweller will be higher than the indicative price shown here as it will include GST of 3 per cent and making charges. Making charges vary from jeweller to jeweller and depends on the design of the ornament being purchased.

Gold Rates Today (Wednesday)

Spot gold prices in India tanked Wednesday, with rates for 24 karat gold (99.9% purity) falling Rs 1,360 to Rs 1,45,250 per 10 grams from Rs 1,46,610 quoted Tuesday. 22 karat gold prices (91.6% purity) slipped Rs 1,250 to Rs 1,33,140 per 10 grams from Rs 1,34,390 while those for 18 karat gold declined Rs 1,030 to Rs 1,08,930 per 10 grams from Rs 1,09,960. After shedding about Rs 500 Tuesday, gold prices took a much sharper dive Wednesday suggesting participants have turned aggressive with their profit booking after last week’s sharp rise. US dollar clawed back some ground against major currencies Wednesday while safe-haven demand for gold eased further amid optimistic view that tensions in Middle East may not escalate further. Despite sharp price fall Wednesday and weakness Tuesday, gold prices have stayed well above what they were selling at a month ago and demand from jewellers is understood to have remained stable.

10 gm Silver Prices: Tuesday, July 7 vs Wednesday, July 8, 2026

Source: goodreturns.in | Rates as of Wednesday, July 8, 2026. Tuesday rates sourced from goodreturns.in, July 7, 2026. All rates are indicative and may vary by jeweller.