Silver Rate Today, July 20: Price increases; check rates in Mumbai, Delhi, Kolkata, Chennai, other cities

Silver prices after declining on Friday increased today (July 20, 2026). According to GoodReturns.in, silver prices surged by ₹5000 per kg to ₹2.35 lakh per kg.

After hitting fresh highs of over ₹4 lakh earlier in the year, silver prices are in downtrend amid global rate hike bets.

Higher interest rates tend to weigh on non-interest-yielding assets like gold and silver.

Factors influencing silver rate in India

Amid significant gains internationally, silver traded with gains on the MCX. At around 11 am, silver September futures traded higher by 0.97% or ₹2,100 at ₹2,18,503 per kg.

The gains in the precious white metal are seen as the US dollar index has mildly retreated. At around the time of writing, the US dollar index (DXY) traded weak by 0.05% at 100.72.

A falling dollar makes silver cheaper for other currency holders, boosting the metal's appeal.

Spot silver traded with gains of 1.07% at $56.55, while the US silver futures for September delivery traded 0.89% higher at $56.825 per ounce.

Investors are closely assessing developments on the US-Iran front, movement in crude oil price, inflation outlook and views of policymakers on interest rate path for cues on the direction in precious metals.

While bullion's appeal increases during periods of geo-political uncertainty, a stronger US dollar, higher yields and bets of higher-for-longer interest rates have weighed on silver prices.