Silver price today: Rates hold strong ahead of Fed rate decision; Check 24K, 22K, 18K prices in your city

India’s December silver futures on Friday closed the session at Rs 1,83,100 per 1 kilogram of 999 purity, which is approximately 2.79 percent jump from previous close.

Spot silver prices held strong at $58.19 an ounce on December 8, as of 6:40 a.m (IST) amid tight supply ahead of the US Fed meeting on interest rate decision tomorrow.

India’s December silver futures on Monday opened the session at Rs 1,81,492 per 1 kilogram of 999 purity, and continued to hover at Rs 1,82,932, which is approximately 0.26 percent dip from previous close.

The Indian Bullion and Jewellers Association (IBJA) announced the price of yellow at Rs 1,78,210 for 1 kilogram of 999 purity in their 18:30 p.m rate session on December 5.

Check out below to see the prices of 1 kilogram of 999 purity silver.

City-wise silver prices in India Today

Silver rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs.

Why silver prices are holding steady

The Augmont Report published on December 8, stated that silver can continue its rally towards $60 (Rs 1,85,500) and $62 (Rs 1,91,000), with firm support at $57 (Rs 1,77,000), if tight supply conditions continue.

The white metal is gaining traction, buoyed by strength in global demand and renewed interest from investors seeking portfolio balance. As markets brace for the US Fed rate decision, the white metal is likely to stay in focus, while volatility may remain high, but underlying fundamentals for silver look supportive.

"Silver is holding its ground too, underpinned by strong industrial demand and robust investor interest. Following a stellar run this year, the white metal remains attractive in comparison to gold. Further gains are likely if global demand stays firm and supply remains tight," said Rahul Gupta, Chief Business Officer, Ashika Stock Services

Outlook: Will silver regain momentum this week?

The Augmont report said, "Silver continues to rise, reaching $60, as structural factors underpin the recovery, with low visible exchange inventories, renewed ETF accumulation, and industry estimates of a 2025 supply deficit tightening the market and magnifying short covering, while durable industrial demand from solar and other green technologies supports the medium-term case for higher prices."

“Silver riding strong investor demand and tightening supply has outpaced gold this year, nearly doubling in 2025. The white metal recently touched record highs on both global and domestic markets., with prices on the domestic exchange crossing Rs 1.85 lakh per kilogram.

“Given its growing role in industry plus safe-haven and speculative demand, silver’s upside appears stronger than gold’s over the next few months. Silver may offer higher returns in the near-term, potentially outperforming gold if global demand and rate-cut expectations persist,” said Ross Maxwell, Global Strategy Lead at VT Markets.