Silver Rate on July 9: Prices decline by ₹10,000/kg; check what you have to pay for 1 kg silver

After remaining steady for the past two days, silver prices have declined on Thursday (July 9, 2026). According to GoodReturns.in, the precious white metal today fell by ₹10,000 to ₹2.35 lakh per kg.

Last week, silver prices regained momentum, with prices inching higher to up to ₹2.5 lakh.

Factor influencing silver rates today

Mirroring movement in the international bullion market, silver prices on the MCX traded higher. At around 11:30 am, silver September futures traded with gains of 0.32% or ₹708 at ₹2,24,145 per kg. However, in early trade, prices declined sharply, with the day's low hitting ₹2,21,502. In the previous session, the contract settled at ₹2,23,437.

Spot silver traded strong with gains of around 0.8% at $58.75 per ounce, while silver futures for September delivery traded with gains of 0.76% at $58.98 per ounce.

The minutes of the Fed’s June 16-17 meeting released Wednesday showed a few policymakers said there was a case for raising rates, though they eventually supported the decision to leave rates on hold.

The partial recovery in the precious metal is seen amid the return of safe-haven demand as tensions escalate in the Middle East. On Wednesday, the US President Donald Trump declared that the “ceasefire with Iran is over”. “I do not want to deal with them anymore,” said the US president at a summit of the North Atlantic Treaty Organisation (NATO) in the Turkish capital, Ankara.

Also, a mild weakness in the US dollar index lent support to the precious white-metal.