Silver Prices in India Drop to Lowest Level in 2026 Amid Easing Geopolitical Tensions

On 23 June 2026, the price of 1 gm of silver was ₹227, and the price of 1 kg of silver was ₹227,430, reflecting a loss of 3.30% compared to its previous close. Meanwhile, the 10 gm silver rate is at ₹2,274. Silver prices in India are largely influenced by international spot silver rates, US dollar fluctuations, and import duties on silver among other things. The silver dropped to the lowest level of 2026 as geopolitical risk eased following progress in US–Iran peace talks. Washington’s decision to allow Iran a 60-day license to sell oil internationally has improved expectations of higher global crude supply. ALSO READ Silver Rate Today 19th June 2026: Silver is down by 2.01%; check prices in Mumbai, Bengaluru, Hyderabad, Delhi, Ahmedabad Shipping through the Strait of Hormuz has increased, with Kuwait and the UAE also diversifying export routes. Iran alone exported more than 30 million barrels in the past week. The easing of Middle East tensions has reduced oil-driven inflation fears, limiting safe-haven demand for silver as markets anticipate more stable energy flows ahead. “Investors now await S&P Global Flash PMIs, ADP Employment Change, the Richmond Manufacturing Index, and remarks for fresh direction,” said Kotak Securities in a commodity note. ALSO READ 2 reasons why Goldman Sachs cut the gold forecast for the second half of the year