Silver prices in the country do not move on their own they mostly follow global silver prices. Changes in the US dollar also affect silver rates in India. When the dollar moves up or down, silver prices usually change too. Import duty on silver is another big reason behind price changes. Because India imports most of its silver, any change in global markets or government taxes can quickly impact local prices.
Gold Rate Today: MCX Gold Soars 4%, Silver Up 6%; Check Latest Market Updates
Silver Rate Today in India (₹ per 1 gm, 10 gm, 1 kg)
| Type | Today’s Price (₹) | Yesterday’s Price (₹) | Change (₹) | Change (%) |
|---|---|---|---|---|
| 1 gm | 283 | 267 | 16.08 | 6.01% |
| 10 gm | 2,835 | 2,674 | 160.80 | 6.01% |
| 1 Kg | 283,490 | 267,410 | 16,080.00 | 6.01% |
Silver prices are moving up today after a very wild few days in the market. Earlier, silver saw a massive fall at the end of January. In just two days, prices dropped almost 40%, which shocked many traders. The market has started to calm down. The big forced selling has mostly stopped, and buyers are slowly coming back because prices look cheaper.
Another reason for support came from global tensions. News that the US Navy shot down an Iranian drone made investors nervous. When such events happen, people often buy silver as a safe option, even though nuclear talks are expected soon.
What are Experts Saying?
Experts believe the basic strength of silver has not changed much. Ajay Kedia, Founder of Kedia Advisory, said prices are supported by strong demand from industries and a supply shortage, even though the January rally had too much speculation.
Hareesh V from Geojit Investments also shared a similar view. He said, “Prices are now attempting a mild recovery as markets digest the impact of margin hikes, a stronger US dollar, and repositioning linked to the Fed chair nomination.”
ANZ analyst Soni Kumari also said, “After such a sharp rally, a correction was expected, it was not surprising and with gold coming back up, the fundamentals have not changed much.”
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What’s ahead for Silver
Silver may remain unstable for some time. Prices recently touched record highs near Rs 4.2 lakh per kilogram before falling nearly 36%. After that, silver jumped more than 9% in one day. Now it is trading close to Rs 2.8 lakh per kilogram. Experts say prices could slowly recover, but another fall is possible if global factors like interest rates or the US dollar change again.
Silver Rate Today in Metro Cities (₹ per gm)
| City | 1 gm(₹) | 10 gm(₹) | 1000 gm(₹) |
|---|---|---|---|
| Ahmedabad | 285 (15.39) | 2,846 (153.90) | 284,640 (15,390.00) |
| Bangalore | 284 (14.61) | 2,837 (146.10) | 283,710 (14,610.00) |
| Chennai | 284 (14.64) | 2,843 (146.40) | 284,310 (14,640.00) |
| Delhi | 283 (14.57) | 2,830 (145.70) | 283,000 (14,570.00) |
| Hyderabad | 284 (16.11) | 2,839 (161.10) | 283,940 (16,110.00) |
| Kolkata | 283 (16.06) | 2,831 (160.60) | 283,110 (16,060.00) |
| Mumbai | 283 (16.08) | 2,835 (160.80) | 283,490 (16,080.00) |
| Pune | 283 (16.08) | 2,835 (160.80) | 283,490 (16,080.00) |
| Surat | 284 (16.11) | 2,839 (161.10) | 283,870 (16,110.00) |
