Silver Price Drops 0.7% as Dollar Index Rebounds

The price of silver in India has decreased by 0.70% on September 4th, 2026. As per the latest rates, 1 gram of silver costs ₹240, while 10 grams cost ₹2,399 and 1 kilogram is priced at ₹239,870.

This decline is attributed to a rebound in the dollar index, which has made dollar-priced commodities more expensive and reduced demand. The Federal Reserve's decision on interest rates also played a role, as traders scaled back expectations of a rate hike following Fed Governor Christopher Waller's statement that a hike may not be necessary if inflation is contained.

Silver prices have been under pressure due to uncertainty over the US-Iran war and elevated crude oil prices. Analysts suggest that silver prices may remain range-bound in the near term as markets await US Payrolls data, which will provide further cues on the Fed's rate hike decision.