Silver Rate in India Today, September 1, 2026: Prices Slip ₹50 per 10 gm on Tuesday

Mumbai, Sept 1: Silver prices in India eased on Tuesday morning as trading opened for the new month, snapping a two-session pause with fresh declines across major markets. Today’s national rate for silver stands at ₹2,500 per 10 grams, ₹25,000 per 100 grams, and ₹2,50,000 per kilogram in most cities, down ₹50 per 10 grams from Monday’s closing levels. On a per-gram basis, that works out to ₹250, a fall of ₹5 from Monday’s ₹255, breaking the flat run that had held through the weekend. 

The decline comes even as gold trades in its own range on Tuesday, with dealers noting that silver’s fresh weakness marks a shift after two sessions of holding steady. The pullback suggests global spot silver prices eased over the past session, pulling Indian rates lower in step with international benchmarks. 

Silver price in India is determined largely by international prices, which move in either direction depending on global industrial demand, investment flows and mining supply. Currency movement also plays a part: if the rupee weakens against the dollar while international silver prices hold firm, the metal tends to become costlier in India even when global rates are steady. Tuesday’s softer opening suggests global spot silver prices eased slightly heading into the new trading month. 

Broader global cues also weighed on sentiment, with investors watching for fresh signals from the US Federal Reserve on the pace of future interest rate moves, a factor that typically influences the dollar and, in turn, the appeal of dollar-denominated bullion. Asian markets traded in a mixed range through the morning, while crude oil prices held broadly steady, offering little fresh direction to precious metals trading. 

Dealers said Tuesday’s decline reflects some profit booking after silver’s recent steadiness, with the metal giving back part of its recent gains even as broader sentiment around precious metals stays constructive. Traders said silver’s near-term direction will likely hinge on fresh cues from the US Federal Reserve, alongside industrial demand from electronics and solar-panel manufacturers, with Tuesday’s fall suggesting the market is booking profits before its next move. 

Market participants added that silver continues to draw interest from retail investors looking for a lower-cost alternative to gold, and Tuesday’s softer rates could offer a fresh entry point for buyers who held off during recent sessions. Jewellers in several cities said footfall for silverware and silver coins typically picks up whenever rates soften, particularly ahead of the upcoming festive and wedding season. 

City-Wise Silver Rates: Monday vs Tuesday 

The table below sets Monday’s (Aug 31) silver rates for 10 major Indian cities against Tuesday’s (Sept 1) rates, quoted per 10 grams. Every city recorded a decline of ₹50 from Monday’s closing level, with no divergence across any of the ten markets tracked. 

Source: Bullion dealer quotes 

On a per-kilogram basis, Tuesday’s rates stand at ₹2,55,000 in Chennai, Hyderabad and Kerala, and ₹2,50,000 in the remaining seven cities, down ₹5,000 from Monday’s levels across every market. Retail buyers are reminded that these are indicative bullion rates, and actual prices at silverware and jewellery counters will typically include additional making charges and applicable GST. 

Market watchers said Tuesday’s uniform ₹50 decline across every city tracked suggests silver is undergoing a broad correction rather than a city-specific adjustment. With the metal easing in step across markets, dealers said the coming sessions will be key to determining whether silver extends its pullback or reverts to the steadier trading seen through much of last week. 

Historically, silver has traded at a small fraction of gold’s price per gram, and Tuesday’s decline did little to change that broad relationship. Analysts tracking the gold-silver ratio said the metal’s fall reflects factors specific to silver, including industrial demand and profit booking, reasserting themselves after a period of relative calm. Silver’s added industrial-use component means it can continue to move independently of gold during periods when manufacturing or green-energy demand shifts on its own. 

Investors who are looking to diversify beyond physical silver can also explore the list of Silver ETFs in India, which track silver prices without the need to store physical metal: https://hdfcsky.com/etf/silver-etf 

Jewellery Stocks Today 

Shares of jewellery companies with a meaningful presence in silverware and studded silver jewellery were mixed around mid-morning trade on Tuesday even as silver prices declined, with Vaibhav Global, PN Gadgil Jewellers and Silgo Retail all trading higher while Senco Gold slipped into the red. Vaibhav Global led the gains among the group, adding more than two per cent, while Silgo Retail recorded the smallest advance among the gainers. Senco Gold was the lone loser in the pack, falling more than one and a half per cent even as its silverware-focused peers moved higher. Trading was still underway through the morning session at the time of writing, and the mixed showing suggests stock-specific factors, rather than the softer bullion trade alone, were driving individual counters. 

Source

• NSE market data