6 hrs ago
Silver Rate Today: Prices Fall 0.83% Across Indian Cities
Silver became slightly cheaper in India on 2 September 2026.
One gram was reported at ₹232.
One kilogram was reported at ₹232,410.
Prices differed a little between cities because of local taxes and other costs.
A stronger US dollar made silver less attractive to some investors.
Fighting and uncertainty involving the US and Iran also affected market expectations.
Higher oil prices raised concerns about inflation and supply disruptions.
Investors are also watching whether the US Federal Reserve may raise interest rates.
Analysts said silver may stay weak or move within a limited range for a while.
Silver traded at ₹232 per gram and ₹232,410 per kilogram in India on 2 September 2026.
The reported rates were 0.83% lower than the previous close, although the listed per-unit differences show a separate arithmetic discrepancy.
Mumbai, Delhi, Kolkata, and Pune recorded ₹232 per gram, while Ahmedabad, Bengaluru, Chennai, Hyderabad, and Surat recorded ₹233.
A stronger dollar, US-Iran tensions, rising crude prices, and expectations of higher US interest rates weighed on silver.
Analysts said silver could remain range-bound, with near-term momentum considered bearish unless prices move above $65 or hold above $64.
- Who
- Silver traders, investors, analysts, the US Federal Reserve, and markets affected by US-Iran tensions.
- What
- Indian silver prices fell by a reported 0.83%, with city-level rates ranging from ₹232 to ₹233 per gram.
- Where
- India, including Mumbai, Bengaluru, Hyderabad, Delhi, Ahmedabad, Chennai, Kolkata, Pune, and Surat; international factors also influenced prices.
- When
- 2 September 2026; further US economic data was expected on Friday.
- Why
- A stronger US dollar, renewed US-Iran geopolitical uncertainty, higher crude prices, and expectations of a US interest-rate hike weighed on silver.
Key facts
- Date
- 2 September 2026
- India silver rate
- ₹232 per gram; ₹2,324 per 10 grams; ₹232,410 per kilogram
- Reported daily change
- Down 0.83% from the previous close
- Highest listed city rate
- ₹233 per gram in Ahmedabad, Bengaluru, Chennai, Hyderabad, and Surat
- Lowest listed city rate
- ₹232 per gram in Delhi, Kolkata, Mumbai, and Pune
- Market outlook
- Near-term conditions were described as range-bound with a bearish bias
- Analyst levels
- A break below $64.000 could weaken silver further, while a sustained move above $65.000 could improve momentum
- Rate variation
- Retail prices may differ by jeweller and state because of local taxes, making charges, and logistics
Quotes
Ponmudi R
CEO of Enrich Money
“Overall near-term bias stays bearish with a break below $64.000; a sustained move above $65.000 could improve momentum and stabilize the current weakness.”
financialexpress.com
Sources
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