Silver prices in India held steady on July 13, 2026, even as international markets saw sharp declines. After a drop on the previous Saturday, the metal was priced at ₹2,35,000 per kilogram domestically. This stability comes amid ongoing geopolitical tensions and fluctuating global demand.
Understanding Silver Pricing and Market Trends
Silver is traded both as a physical commodity and through futures contracts on exchanges like the Multi Commodity Exchange (MCX) in India. Its price is influenced by a variety of factors including industrial demand, investment trends, currency fluctuations, and geopolitical events. The purity of silver, often measured as 999 or 99.99 percent, also affects its valuation, especially for investors and jewelers.
In January 2026, silver prices in India peaked at over ₹4 lakh per kilogram, driven by strong demand and market speculation. Since then, prices have corrected by more than 40 percent, reflecting changes in global economic conditions and investor sentiment.
Key Facts on Silver Prices and Market Movements
On July 13, 2026, silver was priced at ₹2,35,000 per kilogram in India.
According to Senco Gold and Diamonds, 999 purity silver was valued at ₹2,73,053 per kilogram based on prices from July 11.
Silver futures for September delivery on the MCX dropped by 1.49 percent, trading at ₹2,19,352 per kilogram.
International spot silver prices fell by 2.25 percent to $58.52 per ounce.
US silver futures for September delivery declined by 2.39 percent, settling at $58.70 per ounce.
The US dollar index rose above 101, strengthening the currency amid escalating tensions between the US and Iran.
How Geopolitical Tensions Affect Silver Demand
The recent escalation in the US-Iran conflict has had a notable impact on silver prices. A stronger US dollar makes dollar-denominated commodities like silver more expensive for holders of other currencies, reducing demand. Additionally, geopolitical uncertainty often drives investors toward safe-haven assets such as the US dollar and treasury bonds, which can limit gains in precious metals like silver.
Experts suggest that the focus of investors is shifting back to the geopolitical landscape, particularly the US-Iran situation. Any further escalation could push oil prices higher, reinforcing the appeal of traditional safe-haven investments over commodities like silver. This dynamic is expected to keep silver price gains in check despite ongoing market volatility.
Frequently Asked Questions
Q: Why did silver prices fall internationally but remain steady in India?
A: While international silver prices dropped due to a stronger US dollar and geopolitical concerns, domestic prices in India remained steady because of local demand and market factors that can differ from global trends.
Q: What does 999 purity silver mean?
A: 999 purity silver refers to silver that is 99.9 percent pure, often called fine silver. It is a standard measure used for investment-grade silver and jewelry.
Q: How does the US-Iran conflict influence silver prices?
A: The conflict increases uncertainty in global markets, strengthening the US dollar and boosting demand for safe-haven assets like treasury bonds. This can reduce investment in silver, limiting its price growth.
