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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 Remains Firm Across Major North Indian Markets

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.

South India Continues to Record Higher Silver Rates

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.

Chennai

Silver was trading near ₹2,90,000 per kilogram.

Hyderabad

Prices remained around ₹2,90,000 per kilogram.

Kerala

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.

Silver Rates in Major Cities on June 1, 2026

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

What Is Supporting Silver Prices?

Several factors are influencing silver prices in both domestic and international markets.

Industrial Demand

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.

Global Economic Developments

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.

Investor Interest

Silver often benefits from increased investor demand during periods of uncertainty. Many investors view it as an alternative store of value alongside gold.

Silver Remains One of the Best-Performing Commodities

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.

What Buyers Should Keep in Mind

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.

Outlook for Silver

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.

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