Silver Rate in India Today, September 3, 2026: Rates Rebound ₹50 per 10 gm on Thursday

New Delhi, Sept 3: Silver prices in India bounced back on Thursday morning, snapping a two-session losing streak that had pulled rates lower through Tuesday and Wednesday. Today’s national rate for silver stands at ₹2,500 per 10 grams, ₹25,000 per 100 grams, and ₹2,50,000 per kilogram, up from ₹2,450, ₹24,500 and ₹2,45,000 respectively on Wednesday. On a per-gram basis, that works out to ₹250, up from ₹245 — the first gain for silver since Monday’s flat close. 

The rise marks a gain of ₹50 per 10 grams, ₹500 per 100 grams, and ₹5,000 per kilogram over Wednesday’s national rate — equivalent to a per-gram rise of ₹5, or close to 2.04%. The move recovers exactly half of the ₹100 per 10 grams silver had shed over Tuesday and Wednesday’s back-to-back declines, mirroring the pattern seen in gold, which also rebounded sharply on Thursday after its own steep Wednesday correction. 

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. Thursday’s rebound suggests global spot silver prices firmed up overnight, reversing the softening trend seen through the middle of the week. 

Dealers attributed Thursday’s bounce to renewed safe-haven buying across precious metals, as fresh escalation in the Iran-US conflict overnight revived demand for both gold and silver after Wednesday’s broader risk-on mood had weighed on both metals. Traders said silver’s rise, while smaller in percentage terms than gold’s own rebound, points to the metal tracking bullion-wide sentiment more closely on Thursday than it had earlier in the week, when industrial-demand factors appeared to be driving its moves independently. Reports of civilian casualties from the latest round of US strikes on Iran added to the sense of heightened risk overnight, a backdrop that has historically supported demand for both gold and silver as investors look to preserve capital during periods of geopolitical stress. 

Market participants added that silver continues to draw interest from retail investors looking for a lower-cost alternative to gold, and Thursday’s rebound could prompt some buyers who had been waiting on the sidelines through the two-day decline to step back into the market. Some analysts noted that silver’s smaller, steadier percentage moves compared with gold’s often make it an appealing option for investors seeking exposure to precious metals without the sharper day-to-day volatility currently being seen in bullion markets. 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: Wednesday vs Thursday 

The table below sets Wednesday’s (Sept 2) silver rates for 10 major Indian cities against Thursday’s (Sept 3) rates, quoted per 10 grams. Every city recorded an identical ₹50 rise, reversing the pattern of the previous two sessions and keeping relative premiums between cities unchanged even as the overall level moved higher. 

Source: Goodreturns.in 

On a per-kilogram basis, Thursday’s rates rise to ₹2,55,000 in Chennai, Hyderabad and Kerala, and ₹2,50,000 in the remaining seven cities — up ₹5,000 across every market from Wednesday, exactly reversing the previous session’s decline. 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 Thursday’s uniform ₹50 rebound, following two identical ₹50 declines earlier in the week, suggests silver is trading in a fairly narrow, well-defined band even as it moves in step with broader precious-metals sentiment. With gold posting a far sharper percentage rebound of its own on Thursday, dealers said the coming sessions will show whether silver continues to track gold’s swings more closely or reverts to being driven primarily by industrial demand, as it appeared to be earlier in the week. Some traders said a third straight ₹50 move, in either direction, would be worth watching closely as a signal of where silver’s underlying trend is headed heading into the weekend. 

Historically, silver has traded at a small fraction of gold’s price per gram, and Thursday’s rebound did little to change that broad relationship even as gold’s steeper percentage gain widened the gap between the two metals’ moves once again. Analysts tracking the gold-silver ratio said Thursday’s session was a reminder that while silver often moves independently on industrial-demand cues, sharp swings in geopolitical risk sentiment — like the fresh Iran-US escalation overnight — tend to pull both metals in the same direction simultaneously. 

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 

With the UN Secretary-General calling for an immediate cessation of military action and reports of casualties from the latest strikes continuing to circulate, dealers said precious metals are likely to stay sensitive to headline risk through the rest of the week. Silver’s tendency to move alongside gold during periods of acute geopolitical stress, even while retaining its own industrial-demand-driven identity during calmer periods, means investors may need to watch both metals together rather than treating silver purely as a cheaper gold substitute in the current environment. 

Jewellery Stocks Today 

Shares of jewellery companies with a meaningful presence in silverware and studded silver jewellery were mostly higher around mid-morning trade on Thursday, tracking silver’s rebound, with Senco Gold, PN Gadgil Jewellers and Vaibhav Global all trading in the green even as Silgo Retail slipped into the red. Senco Gold led the gainers among the group, while Silgo Retail was the sole decliner. Trading was still underway through the morning session at the time of writing. 

Source

• NSE market data