Silver Prices Crash Across India Amid Raksha Bandhan Festivities
Silver prices plummeted in India on August 28, 2026, marking a significant drop of ₹18,000 from previous levels. According to data from the Indian Bullion Association, the price of 999 fine silver was around ₹2,42,140 per kg.
The disparity in prices across key cities in India is substantial, with Chennai recording the highest price at ₹2,43,280 per kg, followed closely by Hyderabad at ₹2,42,950 per kg. Delhi and Mumbai had lower rates of ₹2,42,140 per kg and ₹2,42,550 per kg, respectively.
The broader India benchmark for August 28 was set at ₹2,55,000 per kg, highlighting the importance of verifying local quotations before making a purchase. The MCX gold price fell by 0.75% to ₹1,58,410 per 10 grams, while the MCX silver futures declined by 0.43%.