Silver Rate Today: Prices drop by ₹20,000/ kg in 3 days; check 999 silver prices across cities

Silver prices on Monday (June 8, 2026) extended their losing streak in the Indian retail market. According to Goodreturns.in, the precious white metal at around 9:57 am quoted at ₹2,60,000 lakh per kg, down ₹5000 per kg.

On the India Bullion and Jewellers Association (IBJA) website, silver 999 quoted at ₹2,56,908 per kg in the evening session on the previous day.

Factors influencing silver rate today

Mirroring movement in the international markets, silver prices on the MCX were down sharply. At around 9:42 am (IST), silver July futures traded with a cut of 1.62% or ₹4,037 at ₹2,44,500 per kg.

Internationally, US July futures also fell below $70 per ounce mark, dropping 1.43%.

Continuing tensions in West Asia and bets of a higher interest rate regime given the lingering inflationary pressure weighed on silver.

Last week, both gold and silver witnessed heavy selling pressure. Analysts attribute the weakness to better-than-expected US manufacturing and labour market print, reinforcing expectations that interest rates could be on the higher side for a relatively longer timeframe. Strength in the US dollar as well as continued outflows from ETFs also added to the pressure on bullion prices.

Analysts In the near-term foresee correction in the price of silver.