Silver Prices Trend Sideways Amid Geopolitical Uncertainties

On 9 July 2026, the price of 1 gm of silver was ₹225, and the price of 1 kg of silver was ₹225,160, reflecting a gain of 1.00% compared to its previous close. Meanwhile, the 10 gm silver rate is at ₹2,252. Silver prices in India are largely influenced by international spot silver rates, US dollar fluctuations, and import duties on silver among other things. Silver prices are trending sideways on the back of geopolitical uncertainties in West Asia. Hostilities between US and Iran limited the scope of upside for the yellow metal as oil prices rose with the US carrying out a fresh wave of strikes against Iran. Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed it carried out drone attacks on US military bases in Kuwait and Bahrain, and has also threatened to close the chokepoint- Strait of Hormuz again. ALSO READ Silver Rate Today 3rd July 2026: Silver is up by 1.76%; check prices in Mumbai, Bengaluru, Hyderabad, Delhi, Ahmedabad Additionally, the probability of rate hike by the US Federal reserve is also weighing negatively on the white metal as investors are diverting towards interest yielding assets like bonds and currencies. Analysts suggest silver prices to remain range-bound in the near term, adding that a high dollar index and uncertainties in the Middle East continue to weigh negatively on silver. Increase in oil prices over concerns of transits through the Hormuz Strait have weakened the market sentiment over the white metal. Currently, market participants weigh in at least one rate hike by the US Federal Reserve for this year. Retail investors are advised to track not just domestic rates but also international trends before making buying decisions. ALSO READ Gold plunges 25% from peak: Should investors buy the dip or wait?