Silver Price Today: Rates Fall for Second Day in Delhi; Check September 3 Price in Your City

Silver Price Today, September 3, 2026: Silver buyers are seeing significant price movement at the start of September. The precious metal has weakened for a second consecutive day in Delhi, with the report indicating a cumulative decline of around ₹10,000 per kilogram over two days.

Following the recent correction, the Delhi bullion-market price has moved close to a two-week low. However, the trend was somewhat different in the futures market on Thursday morning, where silver showed a marginal increase on the Multi Commodity Exchange (MCX).

The source lists the commonly quoted retail rate at ₹2,45,000 per kilogram in several major cities, including Delhi, Mumbai, Kolkata, Jaipur, Bengaluru, Noida and Gurugram. In Chennai, Hyderabad and Thiruvananthapuram, the listed rate is higher at ₹2,50,000 per kilogram.

Actual purchase prices can differ depending on purity, taxes, making charges and the individual seller.

Silver Falls ₹10,000 in Two Days in Delhi

Silver has experienced a sharp correction in Delhi's bullion market.

According to the supplied report, the pre-market rate available for Delhi showed silver at ₹2,35,500 per kilogram, inclusive of taxes.

The decline for a second straight day pushed the precious metal close to its lowest level in approximately two weeks.

However, different market sources were quoting different rates at the same time.

The report says Bullions listed 999-fine silver at ₹2,36,020 per kilogram, while Goodreturns showed a price of ₹2,45,000 per kilogram.

This difference highlights why consumers should confirm the applicable rate with their local jeweller or bullion dealer before making a purchase.

MCX Silver Price Shows a Slight Rise

While physical-market prices in Delhi were under pressure, silver futures showed a small recovery during morning trading.

On the Multi Commodity Exchange (MCX), silver was quoted at approximately ₹2,30,100 per kilogram, up ₹157 or 0.07%.

The previous trading session had closed at ₹2,29,943 per kilogram, according to the supplied report.

The report also cited an international silver price of $65.56 per ounce during the morning update.

The difference between physical-market quotes, retail city rates and futures prices is important for consumers to understand because they represent different segments of the silver market.

Silver Price Today in Major Indian Cities

The retail city-wise figures cited in the report show that silver is priced at ₹2,45,000 per kilogram in most of the major markets covered.

Some cities, particularly in southern India, have higher quoted rates.

Here are the silver prices listed for September 3:

These are the indicative city-wise figures cited in the supplied report. Local taxes, seller charges and other costs can cause the final purchase price to vary.

Silver Price in Delhi

Delhi's commonly quoted retail silver rate in the city-wise list stands at ₹2,45,000 per kilogram.

However, the bullion-market figure cited separately in the report is ₹2,35,500 per kilogram, while another quote for 999-fine silver is ₹2,36,020.

Consumers should therefore pay attention to what type of silver price is being quoted when comparing rates.

The purity of the metal, whether the quote is a bullion or retail rate, applicable taxes and seller-specific charges can all influence the amount ultimately paid.

Silver Price in Mumbai and Kolkata

The listed silver price in both Mumbai and Kolkata is ₹2,45,000 per kilogram.

The same quoted rate applies to several other cities, including Jaipur, Ahmedabad, Bengaluru, Noida, Gurugram, Chandigarh and Varanasi.

Buyers purchasing jewellery or other finished silver products may have to pay additional charges beyond the basic metal value.

Silver Price in Chennai and Hyderabad

Silver is more expensive in some of the cities included in the source's retail-rate list.

In Chennai, one kilogram of silver is quoted at ₹2,50,000.

The listed rate in Hyderabad is also ₹2,50,000 per kilogram.

Thiruvananthapuram carries the same ₹2.50 lakh rate.

That represents a difference of ₹5,000 per kilogram compared with the ₹2,45,000 rate quoted for cities such as Delhi, Mumbai, Kolkata and Jaipur.

Silver Price in Jaipur

For buyers in Jaipur, the report lists silver at ₹2,45,000 per kilogram on September 3.

This puts Jaipur at the same indicative retail price level as Delhi, Mumbai, Kolkata, Ahmedabad and Bengaluru.

The amount charged by an individual seller may still differ, particularly when buying jewellery, utensils or decorative silver items rather than standard bullion.

Silver Prices Also Depend on Purity

Another important consideration when buying silver is purity.

Not every silver product contains the same proportion of pure silver, which means comparing prices solely on the basis of weight may be misleading.

According to the purity-wise prices provided in the source:

These purity-based prices were those cited in the supplied report.

What Happened to Silver Prices in the Previous Session?

Silver had already experienced considerable selling pressure before Thursday morning's update.

According to the report, silver in Delhi's bullion market fell by ₹5,000 in a single day, bringing the price down to ₹2,35,500 per kilogram from the previous closing level of ₹2,40,500.

International spot silver was also reported to have declined by approximately 1% to $63.64 per ounce.

The weakness was also visible in futures trading during Wednesday's session.

The report states that the MCX December silver contract fell by ₹1,841, or around 1%, to ₹2,33,600 per kilogram.

Meanwhile, the December silver futures contract on New York's COMEX was reported down 1.22% at $64.57 per ounce.

Why Have Silver Prices Come Under Pressure?

The report attributes the recent weakness in silver to a combination of global market factors.

A stronger US dollar and rising US bond yields have affected investor sentiment toward precious metals.

Uncertainty surrounding US Federal Reserve interest-rate policy and geopolitical tensions have also contributed to volatility.

These factors can influence demand for precious metals and cause prices to move sharply in either direction.

What Silver Buyers Should Check Before Purchasing

Consumers planning to buy silver should avoid looking only at the headline price per kilogram.

Purity is particularly important. The price of 999-fine silver cannot be directly compared with 925 sterling or lower-purity products without accounting for their different silver content.

Jewellery and finished silver products may also include making charges.

Local taxes and dealer-specific charges can further affect the final bill. As a result, two jewellers in the same city may quote different final prices even when the underlying market rate is similar.

Buyers should therefore confirm the silver purity, weight, applicable taxes, making charges and any other fees before completing a transaction.

Silver Rate Today: What Buyers Need to Know

Silver prices remain volatile on September 3, 2026 after a notable correction in the Delhi bullion market.

The supplied report says Delhi silver has fallen by around ₹10,000 per kilogram over two days and moved close to a two-week low. At the same time, early MCX trading showed a marginal 0.07% increase, indicating that different parts of the market were not moving uniformly.

For retail buyers, the report lists silver at ₹2,45,000 per kilogram in several major cities, including Delhi, Mumbai, Kolkata, Jaipur and Bengaluru, while Chennai, Hyderabad and Thiruvananthapuram are quoted at ₹2,50,000.

Anyone planning to buy silver for jewellery, household use or investment should check the latest local price and purity before purchasing, as the final amount can vary depending on market conditions, taxes and seller charges.