Silver Rate in India Today, September 2, 2026: Rates Slip ₹50 per 10 gm on Wednesday

New Delhi, Sept 2: Silver prices in India fell for a second straight session on Wednesday morning, extending Tuesday’s decline as the metal continued to correct after last week’s flat run. Today’s national rate for silver stands at ₹2,450 per 10 grams, ₹24,500 per 100 grams, and ₹2,45,000 per kilogram, down from ₹2,500, ₹25,000 and ₹2,50,000 respectively on Tuesday. On a per-gram basis, that works out to ₹245, down from ₹250 — the second consecutive ₹5-per-gram fall this week. 

The fall marks a decline of ₹50 per 10 grams, ₹500 per 100 grams, and ₹5,000 per kilogram from Tuesday’s national rate — equivalent to a per-gram drop of ₹5, or close to 2.00%. The move matches the size of Tuesday’s decline exactly, meaning silver has now shed ₹100 per 10 grams over two sessions after holding flat through Friday and Monday, even as gold’s own correction on Wednesday was far steeper in percentage terms. 

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. Wednesday’s second straight decline suggests global spot silver prices continued to soften through the middle of the week. 

Dealers said Wednesday’s fall came even as gold posted a much sharper single-session drop of its own, with easing safe-haven demand and profit-booking after recent gains weighing on both metals simultaneously for the first time this week. 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 two straight days of declines suggesting some near-term softening in that demand. Some dealers also pointed to a firmer US dollar as a contributing factor, noting that a stronger greenback typically weighs on rupee-denominated bullion prices across both gold and silver. 

Market participants added that silver continues to draw interest from retail investors looking for a lower-cost alternative to gold, and Wednesday’s second consecutive pullback could offer an even more attractive entry point after Tuesday’s initial dip. Some analysts noted that two straight days of steady, moderate declines are generally viewed as healthier for the market than a single sharp drop, since gradual corrections tend to attract buying interest rather than trigger panic selling. Rates are updated daily based on data sourced from precious metals dealers across the country, and buyers are advised to confirm exact pricing before heading to a jewellery or bullion counter. 

City-Wise Silver Rates: Tuesday vs Wednesday 

The table below sets Tuesday’s (Sept 1) silver rates for 10 major Indian cities against Wednesday’s (Sept 2) rates, quoted per 10 grams. Every city recorded an identical ₹50 decline for the second straight session, keeping relative premiums between cities unchanged even as the overall level moved lower. 

Source: Precious metals dealer data 

On a per-kilogram basis, Wednesday’s rates fall to ₹2,50,000 in Chennai, Hyderabad and Kerala, and ₹2,45,000 in the remaining seven cities — down ₹5,000 across every market from Tuesday, matching the previous session’s decline exactly. 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 the identical ₹50 declines on both Tuesday and Wednesday point to a steady, orderly correction in silver rather than a sharp sell-off, in contrast with gold’s far more abrupt single-session fall on Wednesday. With the two precious metals now both retreating, albeit at very different paces, dealers said the coming sessions will be key to determining whether silver stabilises or continues its gradual slide. Some traders suggested that if global cues remain broadly negative for bullion through the rest of the week, silver could see a third straight session of declines, though the pace would likely stay measured rather than accelerating sharply. 

Historically, silver has traded at a small fraction of gold’s price per gram, and the past two sessions have done little to change that broad relationship even as gold’s steeper Wednesday drop briefly narrowed the gap between the two metals’ rates of decline. Analysts tracking the gold-silver ratio said silver’s steadier, smaller daily moves reflect its dual role as both an investment and industrial metal, which tends to smooth out the sharper swings sometimes seen in gold. 

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 mostly lower around mid-morning trade on Wednesday, tracking silver’s second straight day of declines, with Senco Gold, PN Gadgil Jewellers and Vaibhav Global all trading in the red even as Silgo Retail edged higher. Senco Gold led the losses among the group, while Silgo Retail was the sole gainer. Trading was still underway through the morning session at the time of writing. 

Source

•  NSE market data