Silver Rate on July 24: Prices fall; check rates across Delhi, Mumbai, Chennai and other cities

In line with steep losses in gold, silver prices after remaining unchanged on Thursday dropped today (Friday, July 24, 2026). According to GoodReturns.in, silver prices were dragged lower by ₹5,000 to ₹1.35 lakh per kg.

Factors influencing silver rate in India

Silver prices on the MCX swung between gains and losses. At around 12:20 pm, silver futures for September delivery traded with marginal gains of 0.12% or ₹262 at ₹2,19,637 per kg.

Spot silver, showing similar moves, traded with tad gains of 0.01%. US silver September futures, meanwhile, traded with a cut of 0.21% at $57.9 per ounce.

The broad-based decline witnessed in precious metals is attributed to a host of factors including, rising US dollar, gains in the US 10-year bond yield and higher-for-longer interest rate outlook as brent crude hit $100 per barrel mark.

Even as the industrial demand outlook for silver remained resilient, silver prices continued to be influenced by broader macroeconomic developments.

So, even as bullion's appeal rises during geopolitical uncertainty, the shifting outlook for interest rates is weighing on both gold and silver.