Surat Silver Rate Corrects After Jackson Hole Event

Surat's silver market was marked by a correction on August 31, 2026, as dealers opened quoting ₹258 per gram, matching Ahmedabad and sitting ₹3 below the national high-water mark set by Chennai.

The city's relationship with precious metals is shaped by its industrial profile, which processes over 90% of the world's rough diamonds. This industry employs hundreds of thousands of polishers and cutters who earn enough to participate in the city's robust bullion gifting culture.

The correction was attributed to the Jackson Hole event, where Federal Reserve chair Jerome Powell's remarks strengthened the dollar against the rupee and pushed US Treasury yields higher, reducing silver's relative attractiveness.