Silver Rate on July 3: Price rises by ₹5,000/ kg today; check rates across major cities

Silver prices, in tandem with gains in gold, registered gains for the third consecutive day on Friday (July 3, 2026). According to GoodReturns.in, the white metal surged in price by ₹5,000 to ₹2.5 lakh per kg.

In the last three days, silver price has climbed by ₹15,000 per kg.

Factors influencing silver rate in India

Mirroring upbeat sentiment in the international markets, silver September futures on the MCX at around 1:46 pm,were up by a sharp over 2% or ₹5,212 at ₹2,38,516 per kg.

Meanwhile, US silver futures were trading with even more gains of over 3.5% at $63.208.

The weaker-than-expected US payrolls data weighed on the dollar, rendering dollar-priced precious metals cheaper for other currency holders.

Also, as the June payrolls came below expectations, traders now anticipate a nearly 54% chance of a Fed rate hike in September.

Easing expectations of an interest rate hike have also lifted sentiment in precious metals.

In the near term, silver prices in India will mainly be driven by global trends, the rupee-dollar exchange rate, the US monetary policy, industrial demand, and local buying sentiment.