Silver Price Today September 1: Rates Hit ₹2.60 Lakh in Some Cities; Check Delhi, Mumbai, Jaipur and More
Silver prices remained volatile on September 1, 2026, with rates showing differences across the futures market, bullion market and major Indian cities. While silver futures on the Multi Commodity Exchange (MCX) recorded a marginal rise in early trade, physical market prices remained substantially higher in several cities.
According to the rates cited in the report, silver was priced at around ₹2,55,000 per kilogram in most major cities, including Delhi, Mumbai, Kolkata, Jaipur, Ahmedabad and Bengaluru. In Chennai, Hyderabad and Bhubaneswar, the quoted rate was higher at ₹2,60,000 per kg.
Anyone planning to buy silver jewellery, coins, bars or silver for investment should therefore compare the prevailing local price before making a purchase, as rates can differ depending on location, purity, taxes and pricing methodology.
Silver Futures Rise Marginally on MCX
Silver futures opened with a slight positive movement on MCX.
According to the report, silver futures were trading at ₹2,33,977 per kilogram, up ₹136 or approximately 0.06%.
The previous trading session had closed at ₹2,33,841 per kg.
This means the early movement was relatively small despite the broader volatility seen in precious metals recently.
Investors should also remember that futures-market prices and the rates quoted by local jewellers or bullion dealers are not necessarily identical.
999 Fine Silver Price at ₹2,39,800 Per Kg
The report also provides rates for different grades of silver based on bullion-market data.
The quoted price for 999 fine silver stood at ₹2,39,800 per kilogram.
Silver prices differed according to purity.
| Silver Purity | Price Per Kg |
|---|---|
| 999 Fine Silver | ₹2,39,800 |
| 925 Sterling Silver | ₹2,21,815 |
| 900 Coin Silver | ₹2,15,820 |
| 800 German Silver | ₹1,91,840 |
These figures highlight why buyers should pay close attention to purity while comparing silver prices.
The price of 999 fine silver cannot be directly compared with a product made using a lower-purity silver composition without accounting for the difference in purity.
Silver Rate in Delhi Today
Silver prices also differed depending on the source used for the physical market.
According to the report, silver in Delhi's bullion market was quoted at ₹2,45,500 per kilogram including taxes.
However, another city-price source cited in the article placed Delhi silver at ₹2,55,000 per kg.
Such differences can arise because various platforms may use different market references, tax assumptions and pricing methodologies.
Consumers should therefore confirm the final payable rate with a local jeweller or bullion dealer before purchasing silver.
Silver Price Today in Major Indian Cities
According to the city-wise figures provided in the report, most major Indian cities were quoting silver at ₹2.55 lakh per kilogram on September 1.
Here is the complete city-wise list:
| City | Silver Price Per Kg |
|---|---|
| Delhi | ₹2,55,000 |
| Mumbai | ₹2,55,000 |
| Kolkata | ₹2,55,000 |
| Chennai | ₹2,60,000 |
| Patna | ₹2,55,000 |
| Lucknow | ₹2,55,000 |
| Meerut | ₹2,55,000 |
| Ayodhya | ₹2,55,000 |
| Kanpur | ₹2,55,000 |
| Ghaziabad | ₹2,55,000 |
| Noida | ₹2,55,000 |
| Gurugram | ₹2,55,000 |
| Chandigarh | ₹2,55,000 |
| Jaipur | ₹2,55,000 |
| Ahmedabad | ₹2,55,000 |
| Pune | ₹2,55,000 |
| Ludhiana | ₹2,55,000 |
| Guwahati | ₹2,55,000 |
| Indore | ₹2,55,000 |
| Surat | ₹2,55,000 |
| Nagpur | ₹2,55,000 |
| Nashik | ₹2,55,000 |
| Bengaluru | ₹2,55,000 |
| Vadodara | ₹2,55,000 |
| Bhubaneswar | ₹2,60,000 |
| Raipur | ₹2,55,000 |
| Hyderabad | ₹2,60,000 |
The report therefore shows a difference of around ₹5,000 per kg between the commonly quoted ₹2.55 lakh rate and the ₹2.60 lakh rate seen in Chennai, Bhubaneswar and Hyderabad.
How Much Would 100 Grams of Silver Cost?
Based purely on a rate of ₹2,55,000 per kilogram, 100 grams of silver would have a base value of approximately:
₹2,55,000 ÷ 10 = ₹25,500
Similarly, at ₹2,60,000 per kilogram, 100 grams would work out to approximately:
₹2,60,000 ÷ 10 = ₹26,000
These are simple proportional calculations based on the quoted per-kilogram rates. The actual amount paid by a customer can differ depending on purity, taxes, making charges, dealer margins and the type of silver product being purchased.
What Is Happening to Silver in the International Market?
The report also highlights volatility in international silver prices.
One set of available data cited in the article placed international silver at $57.86 per ounce. The article separately cites different international prices while discussing earlier trading sessions, showing how quickly quoted market levels can change across reference points and periods.
That is another reason investors should pay attention to the timestamp and market source when comparing precious-metal prices.
Why Do Silver Prices Differ Between MCX and Local Markets?
Consumers may wonder why the MCX futures rate, bullion-market rate and city-wise retail rate can all be different on the same day.
MCX prices relate to futures contracts traded on the exchange. City-level prices, meanwhile, can reflect local physical-market conditions, taxes, logistics and dealer pricing.
Purity also matters.
For example, 999 silver contains a higher proportion of silver than 925 sterling silver, so their prices should not be expected to match.
A jewellery buyer may also pay making charges or other costs that are not necessarily reflected in a basic quoted silver rate.
Silver Had Faced Pressure in the Previous Session
The report says silver futures had come under selling pressure earlier.
In a previous session, weak spot demand and traders reducing their positions reportedly pushed the December-delivery silver contract down by ₹1,955, or 0.81%, to ₹2,40,489 per kilogram.
The international market had also experienced pressure during the referenced period.
These movements underline the volatility that can occur in silver even over relatively short periods.
What Drives Silver Prices?
Silver prices are influenced by several domestic and international factors.
Changes in global precious-metal markets can affect Indian prices, while movements in the currency market can also influence the cost of imported silver.
Investor sentiment, geopolitical uncertainty and physical demand can further affect the market.
Silver also differs from gold because it has significant industrial applications, which means changes in industrial demand can influence its longer-term price trend.
The report points to factors such as international market direction, the US dollar, investor sentiment and geopolitical developments as important influences on silver prices.
Silver Buyers Should Check the Final Local Rate
The September 1 figures show why buyers should avoid relying on a single headline number.
Silver futures on MCX were quoted at ₹2,33,977 per kg in early trade, while 999 fine silver was cited at ₹2,39,800 per kg in bullion data. Delhi's bullion market rate was reported at ₹2,45,500 including taxes, while city-wise retail reference rates were as high as ₹2,60,000 per kg.
These figures are not necessarily contradictory because they represent different markets, sources and pricing bases.
For consumers, the most practical approach is to check the latest local rate, confirm silver purity and ask for the complete price including applicable taxes and charges before buying.
Disclaimer: Silver prices can change during the trading day. The figures above are based on the rates cited in the source report for September 1, 2026. Buyers and investors should verify current market prices before making a transaction or investment decision.