Silver Rate in India Today, September 4, 2026: Rates Remain Steady on Friday

New Delhi, Sept 4: Silver prices in India held steady on Friday morning, pausing after a volatile run that saw rates slide through Tuesday and Wednesday before rebounding sharply on Thursday. Today’s national rate for silver stands at ₹2,500 per 10 grams, ₹25,000 per 100 grams, and ₹2,50,000 per kilogram, unchanged from Thursday’s closing levels. On a per-gram basis, that works out to ₹250, flat against the previous session — the first day this week without a directional move in either direction. 

The steady open follows Thursday’s gain of ₹50 per 10 grams, which had recovered half of the ₹100 per 10 grams silver shed over Tuesday and Wednesday’s declines. Friday’s pause suggests the market is digesting that bounce rather than extending it, with dealers describing the mood as watchful heading into the weekend. 

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. Friday’s flat opening suggests global spot silver prices consolidated overnight, with international markets holding on to Thursday’s gains rather than pushing further in either direction during the Asian trading session. 

Dealers said Friday’s calm follows two sessions of sharp, headline-driven swings in precious metals, as safe-haven buying tied to the Iran-US conflict had lifted both gold and silver on Thursday after a risk-on mood had weighed on the metals a day earlier. Traders said the absence of fresh escalation overnight left both metals without a clear catalyst to extend Thursday’s rebound, and that a quiet session is consistent with markets waiting for clearer signals. Some watchers noted that industrial-demand factors, which had driven silver’s moves independently earlier in the week, appear to be reasserting themselves now that the acute risk premium has eased. 

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

Market participants added that retail investors who stepped back into silver after Thursday’s rebound are largely holding their positions rather than adding further at current levels, preferring to wait for a clearer trend. Analysts noted that silver’s steadier day-to-day moves compared with gold continue to make it an appealing option for investors seeking exposure to precious metals without sharper volatility. 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: Thursday vs Friday 

The table below sets Thursday’s (Sept 3) silver rates for 10 major Indian cities against Friday’s (Sept 4) rates, quoted per 10 grams. Every city held exactly steady, keeping relative premiums between cities unchanged a day after uniform ₹50 gains had been recorded across the board. 

 Source: Goodreturns.in 

On a per-kilogram basis, Friday’s rates stay at ₹2,55,000 in Chennai, Hyderabad and Kerala, and ₹2,50,000 in the remaining seven cities, unchanged across every market from Thursday. 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 Friday’s flat session, coming right after Thursday’s uniform rebound, suggests silver has settled into a narrow band even as broader sentiment remains sensitive to geopolitical headlines. With gold also holding largely steady after its own sharper Thursday rebound, dealers said the coming week will show whether silver continues to track gold’s swings closely or reverts to being driven primarily by industrial demand, as it appeared to be earlier in the week. 

Historically, silver has traded at a small fraction of gold’s price per gram, and Friday’s flat session did little to change that relationship. Analysts tracking the gold-silver ratio said the pause was a reminder that while silver often moves independently on industrial-demand cues, sharp swings in geopolitical risk sentiment tend to pull both metals in the same direction, and calmer sessions like Friday’s typically see the two decouple again. 

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 markets awaiting fresh developments on the geopolitical front, dealers said precious metals are likely to stay sensitive to headline risk into next week. Silver’s tendency to move alongside gold during periods of acute stress, 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. 

Read more at: https://www.goodreturns.in/silver-rates/ 

Jewellery Stocks Today 

Shares of jewellery companies with a meaningful presence in silverware and studded silver jewellery were broadly higher around mid-morning trade on Friday, with all four stocks in the group — Senco Gold, PN Gadgil Jewellers, Silgo Retail and Vaibhav Global — trading in the green. Vaibhav Global led the gainers with a rise of 2.49%, followed closely by PN Gadgil Jewellers and Senco Gold, while Silgo Retail posted the smallest gain of the four. Trading was still underway through the morning session at the time of writing. 

Source

•  NSE market data