Silver Becomes Cheaper on June 9 as Bullion Markets Witness Fresh Decline Amid Global Uncertainty
Silver prices witnessed a fresh decline on Tuesday, June 9, bringing some relief to buyers planning to invest in the precious metal. After recent volatility in the bullion market, silver rates moved lower across most major Indian cities, with prices dropping by as much as ₹4,000 per kilogram in certain markets.
According to the latest bullion market data, silver was trading at ₹2,60,000 per kilogram in major cities such as Delhi, Mumbai, Kolkata, Lucknow, Jaipur, and Ahmedabad. The decline comes amid weakness in global precious metal markets and growing caution among investors regarding international developments.
Market experts attribute the latest correction in silver prices to a combination of global economic and geopolitical factors. Precious metals came under pressure after international markets showed signs of weakness, while investors remained cautious ahead of key developments related to the United States, Iran, and global monetary policy.
On the Multi Commodity Exchange (MCX), both gold and silver opened lower on Tuesday. Traders remained watchful of global events and expectations regarding future interest rate decisions by the US Federal Reserve.
Higher interest rate expectations generally reduce the appeal of non-yielding assets such as gold and silver, often leading to lower prices in international markets.
In the international market, spot silver declined by nearly 0.7%, trading at around $67.71 per ounce. The weakness in silver followed a broader trend in precious metals as investors reassessed risk sentiment.
Meanwhile, spot gold remained largely stable near $4,332.50 per ounce after touching its lowest level in more than two months during the previous session. US gold futures for August delivery also slipped slightly, reflecting a cautious market environment.
Analysts believe that uncertainty surrounding global economic growth, geopolitical developments, and central bank policies continues to influence bullion prices worldwide.
Recent developments in the Middle East have also played a role in shaping investor sentiment. Reports indicate that tensions involving Iran and Israel have eased somewhat after diplomatic efforts reduced immediate concerns of escalation.
However, market participants continue to monitor the region closely, as any renewed instability could quickly affect commodity prices, including gold and silver.
Investors are also keeping an eye on statements from policymakers and central banks, as future interest rate decisions could significantly impact precious metal demand.
Here are the silver prices recorded on June 9, 2026:
| City | Silver Price (Per Kilogram) |
|---|---|
| Delhi | ₹2,60,000 |
| Mumbai | ₹2,60,000 |
| Ahmedabad | ₹2,60,000 |
| Kolkata | ₹2,60,000 |
| Jaipur | ₹2,60,000 |
| Bhopal | ₹2,60,000 |
| Lucknow | ₹2,60,000 |
| Chandigarh | ₹2,60,000 |
| Chennai | ₹2,70,000 |
| Kerala | ₹2,70,000 |
Among the listed locations, Chennai and Kerala continue to record the highest silver prices, with rates standing ₹10,000 higher per kilogram than those seen in most other major cities.
With silver prices correcting from recent highs, some investors may view the current decline as a buying opportunity. Silver remains popular not only as an investment asset but also for industrial applications, making its price sensitive to both economic growth expectations and investor demand.
Financial experts advise buyers to track market movements carefully before making large purchases. While recent declines have made silver relatively more affordable, price volatility could continue due to changing global economic conditions and geopolitical developments.
The short-term direction of silver prices will largely depend on international market trends, interest rate expectations, currency movements, and geopolitical stability. Any significant shift in these factors could influence demand and pricing in the coming weeks.
For now, silver buyers across India are benefiting from softer rates, with prices remaining below recent peak levels in most major bullion markets.
