On Monday August 31, 2026, silver prices remained in focus as the precious metal market moved in the global financial and geopolitical market at the same time.
The latest city-wise data shows that 999-fine silver trades at different retail levels in most major cities in India. While the daily rate tells consumers and investors about the market, the final price charged by individual dealers can differ.
According to NDTV Profit's city-wise data based on Bullion.co.in, the India-level price of 999-fine silver was ₹2,42,190 per kilogram around 6:30 a.m. on August 31. Among the major metropolitan markets, Chennai had the highest quoted rate at ₹2,42,460 per kg, followed by Bengaluru at ₹2,41,950 per kg. Mumbai's rate was ₹2,41,760 per kg, Kolkata's was ₹2,41,440 per kg and Delhi at ₹2,41,340 per kg.
999 Silver Rates in Major Cities
Bengaluru:
999 silver was quoted at around ₹2,41,950 per kg. Bengaluru is one of India’s major jewellery and bullion markets and silver demand comes from both the retail and industrial end-users.
Chennai:
Chennai recorded the highest 999-silver rate among the five cities listed, at around ₹2,42,460 per kg. The difference compared to other big cities was a relative small but illustrated how local market conditions can affect retail quotations.
Delhi:
The national capital recorded a 999-silver price of about ₹2,41,340 per kg, the lowest among the five major cities in the morning data.
Mumbai:
In Mumbai, 999 silver was priced at around ₹2,41,760 per kg. Mumbai remains a major financial and trading centre for precious metals.
Kolkata:
Kolkata's 999-silver rate stood at about ₹2,41,440 per kg, according to the same city-wise data.
It is important to note that different price trackers can publish different rates depending on their update time and methodology. Mint’s retail-rate tracker showed a different set of figures on August 31, including ₹2,36,316 per kg for Bengaluru and Delhi, ₹2,38,442.84 for Chennai, ₹2,38,206.53 for Kolkata and ₹2,36,552.32 for Mumbai. This shows why buyers should check the time of the quotation and confirm the actual selling price with a local dealer.
Why are prices of silver moving?
Silver has been heavily volatile in recent days. The metal has many factors (interest rate expectations, currency moves, investor demand, industrial use) influencing its price. Unlike gold, silver has an industrial role so industry demand and demand expectations can impact the price of the metal as well.
There are recent reports that precious metals were under pressure as expectations about US Federal Reserve policy changed. Higher interest rate expectations can affect non-yielding assets such as precious metals and also affect international bullion prices as the US dollar has risen.
Silver has shown strong gains much longer after the recent volatility. NDTV Profit reported that 999-fine silver had gained more than 11% over the previous month and over 100% over the previous year.
What is 999 silver?
999 silver is the term for pure silver with a purity of 99.9% (sometimes called fine silver). It is commonly used for bullion and investment-oriented silver. To purchase physical silver, buyers should watch for purity markings and weight.
The quoted market rate should also not be taken to be the final price a consumer will pay. Taxes, dealer margins, fabrication costs and other costs can also affect the final bill for the product and seller. So silver jewellery, utensils and decorative products could cost more than the bullion rate.
For anybody tracking silver prices on August 31, the bottom line is that the metal is still very sensitive to the global markets. And the city-based figures show that rates can vary slightly between markets and data providers. So consumers going to purchase need to check the quotation in the market before making a purchase.
With silver still in demand for investment and industrial applications, traders and market observers will be closely watching global monetary policy, currency and economic data in the coming days. For those living in Bengaluru, Chennai, Delhi, Mumbai and Kolkata, today’s 999-silver rates give us a snapshot of the market but actual retail prices may change during the day.
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