Silver Rate Today, July 7: Price steady amid sharp drop abroad; check what you have to pay for 999 silver

Silver prices remained unchanged on Tuesday (July 7, 2026). According to GoodReturns.in, silver was priced at ₹2.45 lakh per kg today.

The precious white metal has plunged around 40% from its record high of ₹4.1 lakh per kg, hit in late January this year.

Senco Gold: For buying 1 kg of 999 silver, considering the rate of July 6, you would have to pay a total of ₹2,91,181 per kg. This is including a making charge of 10% and 3% GST.

IBJA: On the IBJA, 999 silver traded at ₹2,28,750 per kg.

Factors influencing silver rate today in India

Silver prices, mirroring losses in the precious yellow metal, plunged in Tuesday's trade on the MCX. At around 11:45 am (IST), the metal traded 1.78% or ₹4,199 lower at ₹2,31,900 per kg.

Spot silver was down nearly 2% at $60.82 per ounce, while silver futures traded 1.67% lower at $61.28 per ounce.

The losses in the white metal came as the dollar index strengthened ahead of the release of the Federal Reserve's June policy meeting minutes.

The dollar index (DXY) was last trading just below the 101 mark.

A firmer dollar makes dollar-priced silver more expensive for buyers holding other currencies, weighing on prices.

Going ahead, silver prices will be influenced by the dollar index, US bond yields, geopolitical developments, and other key macroeconomic data.