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Silver Prices Rise Today: Check Latest 1 Kg Rates in Delhi, Mumbai, Patna and Other Major Cities
Silver prices moved higher on Wednesday, September 23, 2026, as the precious metal strengthened in both domestic and international markets. In India, silver continued to trade at elevated levels, with retail prices hovering around ₹2.50 lakh per kilogram in several major cities.
The upward move was also visible in the futures market. However, silver continues to face pressure from a strong US dollar, elevated US Treasury yields and uncertainty surrounding the future path of interest rates. These global factors could keep prices volatile in the coming sessions.
For buyers planning to purchase silver jewellery, coins, bars or other silver products, rates can vary between cities because of local market conditions, taxes and dealer-related charges.
Silver Price in India on September 23
Silver prices registered gains in the domestic market on September 23. In Delhi's bullion market, the precious metal was quoted at around ₹2.42 lakh per kilogram, including taxes, according to the figures cited in the source report.
Another market tracker placed the silver rate at approximately ₹2.50 lakh per kilogram.
The futures market also witnessed positive movement during morning trade. On the Multi Commodity Exchange (MCX), silver futures climbed about 0.29%, or roughly ₹1,430, to trade near ₹2,40,750 per kilogram.
Silver had settled at ₹2,39,317 per kilogram in the previous trading session.
These different figures represent different market references, including bullion, retail and futures prices, so consumers should not expect the quoted rates to be identical across every platform.
Silver Rate Today in Delhi, Mumbai, Chennai and Other Cities
Retail silver prices remained close to ₹2.50 lakh per kilogram across most of the cities covered by the market data. Chennai was an exception, where the quoted price was higher at ₹2,54,900 per kilogram.
Here are the reported silver rates for September 23:
| City | Silver Price Per 1 Kg |
|---|---|
| Delhi | ₹2,49,900 |
| Mumbai | ₹2,49,900 |
| Kolkata | ₹2,49,900 |
| Chennai | ₹2,54,900 |
| Lucknow | ₹2,49,900 |
| Patna | ₹2,49,900 |
| Jaipur | ₹2,49,900 |
| Ahmedabad | ₹2,49,900 |
| Pune | ₹2,49,900 |
| Bengaluru | ₹2,49,900 |
| Hyderabad | ₹2,49,900 |
| Bhopal | ₹2,49,900 |
| Chandigarh | ₹2,49,900 |
| Noida | ₹2,49,900 |
| Gurugram | ₹2,49,900 |
The actual price paid by a customer may differ from these indicative market rates. Taxes, local demand, dealer margins, purity and other charges can affect the final purchase price.
Silver Climbs Above $67 in International Market
Silver also strengthened in the international market on Wednesday. According to the figures cited in the report, international silver prices gained more than 1% to around $67.360 per ounce.
During the session, the metal reportedly traded between approximately $67.240 and $68.055 per ounce.
Despite the upward move, precious metals continue to face competing global signals. Higher US Treasury yields and strength in the US dollar can make non-yielding assets such as silver less attractive to some investors.
Expectations surrounding the US Federal Reserve's next interest-rate decision are another major factor being watched by commodity traders.
Why Silver Prices Could Remain Volatile
Silver is influenced by a combination of monetary policy, currency movements, inflation expectations and industrial demand.
The future direction of US interest rates remains particularly important. If expectations for tighter monetary policy increase or the dollar strengthens further, silver could come under renewed pressure.
Oil prices and broader geopolitical developments may also influence inflation expectations and, indirectly, expectations about monetary policy.
At the same time, silver has significant industrial applications. Demand from sectors such as solar energy can therefore play an important role in determining the medium-term outlook for the white metal.
What Could Be Next for Silver?
N.S. Ramaswamy, Head of Commodity and CRM at Ventura, expects silver to remain highly volatile and suggested that the international price could consolidate broadly between $63 and $75 per ounce.
According to the outlook cited in the original report, support could emerge around $64.50 per ounce if macroeconomic conditions soften.
For the medium term, the expert indicated that silver could potentially move toward $75-$80 per ounce under conditions such as easing inflation, US Federal Reserve rate cuts, sustained solar-sector demand and weakness in the US dollar. The corresponding MCX level cited for such a scenario was around ₹3,25,000 per kilogram.
On the other hand, if interest rates remain elevated, silver could consolidate closer to the $60-$63 per ounce range, corresponding to an indicated MCX level of roughly ₹2,25,000 per kilogram.
These levels are market estimates rather than guaranteed price targets, and silver can move sharply in either direction.
What Silver Buyers Should Keep in Mind
Silver's latest rise has pushed retail prices close to ₹2.50 lakh per kilogram across several Indian cities, while Chennai's quoted rate remains comparatively higher.
However, buyers should distinguish between international spot prices, MCX futures, wholesale bullion rates and retail market quotations. Each reflects a different segment of the silver market and may therefore show a different price at the same time.
With the US dollar, Treasury yields, Federal Reserve policy expectations and industrial demand all influencing sentiment, silver prices may continue to experience significant fluctuations. Anyone planning a major purchase should therefore check the latest local rate and applicable charges before completing the transaction.
