Silver prices are once again in focus as investors and jewellery buyers track sharp movements in the precious metal market. On Monday, September 14, 2026, international silver reportedly slipped around 0.8% to $64 per ounce, while the Indian bullion market remained closed for Ganesh Chaturthi.

The domestic market is presenting different reference prices depending on whether investors look at physical bullion rates, MCX futures or indicative retail prices.

According to the supplied report, silver was previously quoted at ₹2,34,600 per kg in Delhi's bullion market, including taxes. MCX silver futures were around ₹2,34,886 per kg, compared with the previous session's closing level of ₹2,34,974.

Meanwhile, the city-wise indicative rates cited in the report put silver at around ₹2,44,900 per kg across several major cities.

Here's a closer look at the silver market and the latest city-wise prices.

Silver Price Today in Major Cities

The supplied report provides the following indicative silver prices for September 14:

These are indicative city-wise prices cited by the report. Actual rates available from a jeweller or bullion dealer can vary during the day.

How Much Does 10 Grams and 100 Grams of Silver Cost?

If the indicative price is ₹2,44,900 per kilogram, the simple equivalent calculation would be:

These are mathematical conversions of the ₹2,44,900-per-kg reference price and do not include any additional dealer-specific charges that may apply to a particular purchase.

Why Are Different Silver Prices Being Quoted?

Silver buyers may notice an important difference in the prices mentioned in the report.

The Delhi bullion-market reference is ₹2,34,600 per kg, while the city-wise indicative rate is around ₹2,44,900 per kg. MCX futures are quoted at another level.

These figures should not automatically be treated as contradictory because they can represent different markets and pricing references.

A physical bullion-market price, an indicative retail price and a futures contract traded on a commodity exchange are not necessarily the same thing.

The timing of the quote can also matter, particularly when markets are volatile.

For consumers, the most relevant number is ultimately the price quoted by their jeweller or bullion dealer at the time of purchase.

Silver Fell ₹10,000 in Delhi in Previous Trading Session

Silver witnessed a particularly sharp move during the previous trading session in the national capital.

According to the report, silver fell by ₹10,000 per kg in Delhi's bullion market on Friday.

The price declined from ₹2,44,600 per kg to ₹2,34,600 per kg, including taxes.

That works out to a decline of approximately 4.09% in a single session.

Interestingly, the international market moved in the opposite direction during that period. Spot silver reportedly gained around 2% to approximately $64.77 per ounce.

This difference demonstrates why domestic and international silver prices may not always move in exactly the same direction at the same time.

International Silver Slips to Around $64

At the beginning of the new week, international silver was reported to have fallen around 0.8% to $64 per ounce.

Global precious-metal prices can be influenced by several factors, but the supplied report highlights upcoming monetary-policy decisions by major central banks as an important event for investors to watch.

The US Federal Reserve is scheduled to announce its rate decision on Wednesday, followed by the Bank of England on Thursday and the Bank of Japan on Friday.

Investors are expected to closely analyse these policy updates for signals about the future direction of interest rates.

Why Interest Rates Matter for Silver

Silver is a non-yielding asset, meaning holding physical silver itself does not generate regular interest income.

As a result, changes in interest-rate expectations can affect investor appetite for precious metals.

Central-bank decisions can also influence currencies and broader financial-market sentiment, which can indirectly affect the demand for silver.

That is why this week's monetary-policy announcements are being closely monitored by commodity investors.

MCX Closed in Morning, Evening Session to Open

The Ganesh Chaturthi holiday has also affected domestic commodity trading.

According to the supplied report, the Multi Commodity Exchange (MCX) is closed during the morning session on September 14.

However, trading is scheduled to resume in the evening, with the session operating from 5 PM until 11:30 PM or 11:55 PM, depending on the applicable trading schedule.

This means fresh domestic futures-market movements may become visible once evening trading begins.

Why Buyers Should Check the Final Price Before Purchasing

The price seen early in the morning may not necessarily be the exact price available when a customer reaches a jewellery store later in the day.

The report notes that city-wise silver rates are compiled from dealer-market information, but prices can subsequently change.

Therefore, anyone planning to buy silver jewellery, coins, bars or other products should confirm the final rate with the seller immediately before completing the transaction.

The form of silver being purchased also matters. A bullion bar, coin and jewellery item may not have the same final customer price because additional charges can vary.

What Should Silver Investors Watch Next?

The silver market could remain sensitive to several developments during the week.

The first is the direction of international silver after its reported 0.8% decline to around $64 per ounce.

The second is domestic price action when MCX trading resumes.

The third major factor will be monetary-policy signals from the US Federal Reserve, Bank of England and Bank of Japan.

Any significant change in interest-rate expectations or global investor sentiment could influence precious-metal prices.

Bottom Line

Silver prices remain volatile as the new week begins. The supplied report lists ₹2,44,900 per kg as an indicative city-wise rate across Delhi, Mumbai, Kolkata, Chennai, Jaipur, Bengaluru, Hyderabad and several other cities.

At the same time, Delhi's previous physical bullion-market reference was ₹2,34,600 per kg after a sharp ₹10,000 decline, while MCX futures were quoted around ₹2,34,886 per kg. International silver, meanwhile, slipped about 0.8% to approximately $64 per ounce at the start of the week.

Because these prices come from different market references and can change during trading hours, buyers should confirm the live rate with their jeweller or bullion dealer before making a purchase.