Jaipur Silver Rate Hits ₹258 per Gram Amid Correction
The silver rate in Jaipur on August 31, 2026 was ₹258 per gram, matching the prices in Ahmedabad and Surat. This alignment is not coincidental as Rajasthan's bullion market has become increasingly integrated with Gujarat's IBJA supply network over the past decade.
Jaipur's silver market carries a significant weight that doesn't appear in any IBJA pricing bulletin. The city is one of India's oldest jewellery trading centres, and its workshops absorb large volumes of physical silver when prices correct to levels considered fair by craftsmen.
The recent correction was triggered by Federal Reserve chair Jerome Powell's remarks at Jackson Hole, which firmed the dollar against the rupee and pushed US Treasury yields higher. This compressed silver's appeal as a non-yielding asset, causing MCX silver to drop roughly ₹22,000 per kilogram over two sessions.
However, restocking began on Monday as jewellery trade workshops reloaded inventory while finished-goods prices were temporarily elevated relative to raw-material cost. Rajasthan's demand footprint includes both domestic consumption and export through the Jaipur gem and jewellery cluster.