Silver Rate Today, July 2, 2026: Silver Price Climbs Rs 52 per 10 gram as Mumbai and Northern Markets Recoup Wednesday's Losses

Mumbai, July 2: The national price of silver for 10 grams on Thursday rose to Rs 2,401 (or Rs 240.10 per gram and Rs 2,40,100 per kilogram), up Rs 52 from Wednesday’s national price of Rs 2,349 per 10 grams. Thursday’s bounce comes a day after silver had slipped Rs 50 on softer global cues, and the metal has now clawed back almost the entirety of that decline in a single session. 

India’s domestic prices for silver track international prices and can rise or fall, depending on global industrial demand for the metal, the movement of the US dollar and risk-on or risk-off sentiment prevailing in global markets. 

Thursday’s Rs 52 gain pushes the national price back above the psychologically important Rs 2,400 threshold, a level it had briefly slipped under on Wednesday, suggesting Wednesday’s dip was short-term profit-booking rather than a lasting shift in sentiment. 

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

The rebound stems from renewed dollar softness and fresh buying interest after Iran reiterated on Wednesday that it would not engage with US representatives in Doha, keeping geopolitical risk alive. Markets continue to weigh last Thursday’s ceasefire framework between Iran and the US against signs that talks remain fragile, a tension that has kept silver prices choppy this week. 

Spot silver on Thursday is trading comfortably above the multi-week lows touched last Thursday, sitting close to the highs it registered earlier in the week before Wednesday’s pullback. 

Silver rates in Mumbai rose by Rs 52 to Rs 2,401 on Thursday versus Wednesday’s Rs 2,349. Rates in Delhi, Kolkata, Bangalore, Pune, Vadodara and Ahmedabad mirrored Mumbai’s move, also climbing Rs 52 to Rs 2,401 per 10 grams. However, rates in Chennai, Hyderabad and Kerala continued to trade flat on Thursday at Rs 2,449 per 10 grams, unchanged from Wednesday. The silver price has thus continued its familiar two-tier movement pattern, with southern markets holding steady even as the rest of the country moved in tandem. 

Rates in the southern cities have typically traded around Rs 100 higher than the rest of India in recent sessions, and with Thursday’s rebound in Mumbai, Delhi and other centres, that spread has narrowed to Rs 48, the smallest gap seen so far this week and a sign that the two-tier pricing pattern may be starting to converge. 

As mentioned earlier, the above listed rates are indicative. The actual rate offered to customers by jewellers includes Goods and Services Tax (GST) of 3% and making charges, which can differ from jeweller to jeweller. 

Gold Prices on Thursday 

Elsewhere in precious metals, gold prices extended their decline on Thursday, slipping for a third straight session as profit-booking continued. The national price for 10 grams of 24 karat gold (99.9% purity) fell Rs 1,280 to Rs 1,40,770, reversing Wednesday’s modest Rs 130 uptick. 

Gold of 22 karat eased Rs 1,170 to Rs 1,29,040 for 10 grams, while 18 karat gold slipped Rs 960 to Rs 1,05,580, as sellers regained the upper hand after safe-haven demand cooled. 

Chennai continued to quote the highest price for 24 karat gold at Rs 1,44,560 for 10 grams, while Delhi settled at Rs 1,40,920, its usual premium over the national price. 

10 gm Silver Prices: Wednesday, July 1 vs Thursday, July 2, 2026 

Source

•  goodreturns.in | Rates as of Thursday, July 2, 2026. Wednesday rates sourced from goodreturns.in, July 1, 2026. All rates are indicative and may vary by jeweller.