Silver Rate Today, July 6: Prices fall by ₹5,000/kg; check how much you have to pay for 1 kg silver

Silver prices, after edging higher over the previous week, recorded a decline on Monday in the Indian retail market. According to GoodReturns.in, silver prices fell by ₹5,000 to ₹2.45 lakh per kg.

In India, silver prices are determined based on international spot prices, currency exchange rates, import duties, and local taxes.

Senco Gold: For buying 1 kg of silver, considering the rate of ₹2.58 lakhs as on July 3, you would have to pay a total of ₹2,92,314 per kg. This is including a making charge of 10% and 3% GST.

IBJA: On the IBJA, silver prices settled at ₹2,33,858 in the evening session on July 3, 2026. Today's rates are yet to be updated.

Factors influencing silver rates in India

Mirroring the decline in international markets, silver September futures on the MCX traded 0.39%, or ₹923, lower at ₹2,36,487 per kg at around 11:15 am (IST).

Spot silver was down more than 1.15% at $61.7 per ounce. In contrast, silver futures traded sharply higher by as much as 1.9% at $62.22 per ounce.

The losses in the white metal may be attributed to a host of factors, including a stronger US dollar index, higher US yields, and shifting Federal Reserve rate expectations following the latest US jobs report.

A stronger greenback makes dollar-priced silver more expensive for holders of other currencies, weighing on international demand.

Investors are awaiting the Federal Reserve's June meeting minutes, due on Wednesday, for clues on the Fed's rate path. Market participants will also keep track of key US economic indicators, including services PMI, trade data, weekly jobless claims, and inflation readings from major global economies. Going forward, precious metal prices will depend on geopolitical developments, the Fed's interest rate outlook, and the trajectory of crude oil prices.