Silver prices opened the month of June on a positive note, registering gains across several major Indian cities. The precious metal witnessed fresh buying interest on the first trading day of both the month and the week, pushing prices higher in key bullion markets.
According to the latest market rates, silver is trading around ₹2.80 lakh per kilogram in several northern and western states, including Delhi, Uttar Pradesh, Bihar, Mumbai, and Gujarat. For retail buyers, this translates to approximately ₹2,800 for 10 grams of silver.
The upward movement comes amid ongoing volatility in global commodity markets, changing investor sentiment, and fluctuations in international precious metal prices.
Silver prices were largely uniform across several leading cities on June 1, reflecting steady demand in the domestic bullion market.
The metal was quoted at approximately ₹2,80,000 per kilogram in:
Delhi
Mumbai
Ahmedabad
Kolkata
Jaipur
Lucknow
Bhopal
Chandigarh
Various regions of Uttar Pradesh
Several cities in Bihar
Jewellers and bullion traders indicate that demand from both investors and the jewellery sector has remained stable, supporting current price levels.
While most major northern and western cities reported silver prices around ₹2.80 lakh per kilogram, some southern markets continued to trade at a premium.
Silver was trading near ₹2,90,000 per kilogram.
Prices remained around ₹2,90,000 per kilogram.
The precious metal was also quoted close to ₹2,90,000 per kilogram.
Market participants attribute the difference to local demand patterns, transportation costs, taxes, and regional bullion market dynamics.
| City | Silver Price (₹ per kg) |
|---|---|
| Delhi | 2,80,000 |
| Mumbai | 2,80,000 |
| Ahmedabad | 2,80,000 |
| Kolkata | 2,80,000 |
| Jaipur | 2,80,000 |
| Bhopal | 2,80,000 |
| Lucknow | 2,80,000 |
| Chandigarh | 2,80,000 |
| Chennai | 2,90,000 |
| Hyderabad | 2,90,000 |
| Kerala | 2,90,000 |
Several factors are influencing silver prices in both domestic and international markets.
Unlike gold, silver is not only a precious metal but also an important industrial commodity. It is widely used in:
Solar panels
Electronics manufacturing
Electric vehicles
Batteries
Medical equipment
Growing industrial demand continues to provide long-term support to silver prices.
Investors are closely monitoring:
US economic data
Inflation trends
Interest rate expectations
Geopolitical developments
Currency market movements
Any significant changes in these areas can directly impact precious metal prices.
Silver often benefits from increased investor demand during periods of uncertainty. Many investors view it as an alternative store of value alongside gold.
Despite recent fluctuations, silver has delivered strong returns over the past year.
Earlier this year, domestic silver prices briefly crossed the ₹4 lakh per kilogram mark, highlighting the metal's sharp rally. Although prices have corrected from those highs, silver continues to trade at historically elevated levels.
Market experts note that both investment demand and industrial consumption remain key drivers of the silver market.
Anyone planning to purchase silver for investment, jewellery, or industrial use should remember that prices can vary slightly depending on:
Local taxes and duties
Transportation costs
Dealer premiums
Purity levels
Regional demand
Checking live rates before making a purchase can help buyers secure the best available price.
Analysts expect silver prices to remain sensitive to global economic indicators and commodity market movements throughout the week. Key data releases from the United States, central bank decisions, and developments in global trade and energy markets could influence investor sentiment.
While short-term volatility may continue, silver's dual role as both an industrial and precious metal is likely to keep market participants closely watching its price action in the coming weeks.
