Silver Prices Decline by 0.7% on September 4th Amid Dollar Index Rebound
The price of silver in India has taken a hit on September 4th, 2026, with a decline of 0.7% compared to its previous close. The current rate for 1 gram of silver is ₹240, while the price for 1 kilogram is ₹239,870. The silver rate is influenced by international spot rates and import duties.
The recent dip in the dollar index has led to a rebound in the greenback's value, making commodities priced in dollars more expensive and reducing demand. Meanwhile, uncertainty over US-Iran tensions and elevated crude oil prices continue to put pressure on silver prices.
Analysts predict that silver prices may remain range-bound until the release of the US Payrolls data, which could provide further cues for the Federal Reserve's rate hike decision. According to Ponmudi R, CEO of Enrich Money, a break below $67 could resume weakness and drag price toward $65.500-65.000.