{"id":"f-445134d771-98157b07-6f1b-5a6c-acbe-d6ac91710d24","title":"Silver Rate Today (2 February, 2026): Silver Crashes 36% From Record High as Sell-Off Deepens on MCX - Check Rates in Bengaluru, Chennai, Hyderabad...","description":"On February 2, 2026, silver prices in India fell slightly, attributed to global market trends and stable currency exchange rates. Current prices are Rs 349.90 per gram and Rs 3,49,900 per kilogram, reflecting a minor decline from the previous day.","timestamp":1770470340,"category":"business","headline":"Silver Rate Today (2 February, 2026): Silver Crashes 36% From Record High as Sell-Off Deepens on MCX - Check Rates in Bengaluru, Chennai, Hyderabad...","modifiedHeadline":"Silver price drops 36% from record.","subCategories":["scid_82c07a94"],"region":"IN","bundleMetaData":{"bundleId":"ece1ae3d-908e-48c7-9e53-a4aa910ee4db","bundleTitle":"Grow Your Money","cardData":null},"iabCategoryId":"81","fcSummary":"silver prices in india have seen a marginal dip following subdued global cues and stable currency. this follows a period of significant volatility, with silver experiencing sharp declines from its recent record high, attributed to investor caution regarding industrial demand and profit booking.","summary":"Silver plunges 36% from record high on February 2, 2026, as sell-off deepens on MCX.","ctaUrl":"https://trends.glance.com/newz/news/IN/en/timesnow/f-445134d771-98157b07-6f1b-5a6c-acbe-d6ac91710d24","sourceUrl":"https://www.timesnownews.com/business-economy/economy/silver-rate-today-2-february-2026-silver-prices-edge-lower-in-india-as-global-cues-stay-muted-check-rates-in-bengaluru-chennai-hyderabad-mumbai-delhi-article-153545632","bannerImage":"https://g-mob.glance-cdn.com/public/fc/image/lYLXEsLmW-O0.webp","content":"

Silver prices in India witnessed a marginal dip on 2 February 2026, reflecting subdued global cues and stable currency movement. As of today, silver is

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priced at Rs 349.90 per gram and Rs 3,49,900 per kilogram, down slightly from the previous session. Silver prices have been falling continuously for the past two to three days, a trend that persisted on Budget Day and has continued today as well. As soon as the market opened today, silver prices on the Multi Commodity Exchange (MCX) plunged by nearly 6%, slipping Rs 15,939 to trade at Rs 2,49,713 per kilogram. On the previous day, silver had already suffered a sharp correction, declining 9% or Rs 26,273 to settle at Rs 2,65,652 per kilogram on the MCX. Overall, silver prices have now fallen more than 36% from their lifetime high of Rs 4,20,048 per kilogram. Earlier, on Friday, silver prices had dropped sharply from the year’s all-time high of Rs 4,20,048 per kilogram to Rs 2,91,911, marking a staggering 30% fall in a single day. Just a day before that, on Thursday, silver prices had surged nearly 9% to hit the record high of Rs 4,20,048 per kilogram. By the end of the last trading session, silver had already become Rs 1,28,137 cheaper from its peak, underscoring the extreme volatility in the market. Internationally, silver prices on COMEX also witnessed heavy selling, falling by $35.89 per ounce, or 31.37%, to $78.531 per ounce. Meanwhile, according to a GoodReturns report, silver prices in the domestic spot market have declined to Rs 3,00,000 per kilogram, after touching Rs 4,10,100 per kilogram on Thursday. Data from the Indian Bullion and Jewellers Association (IBJA) shows that by Monday morning, silver prices had slipped further to Rs 2,65,751 per kilogram. The decline is modest but visible across retail and bulk quantities, indicating cautious sentiment in the precious metals market. Silver Rates Today: Key Highlights

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Silver per gram: Rs 349.90 (down Rs 0.10)
Silver per kilogram: Rs 3,49,900 (down Rs 100)

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\nThis small correction comes after recent volatility in bullion prices, as investors continue to track global economic signals and currency trends.\n
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What Determines Silver Prices in India?

Silver prices in India are primarily influenced by:\n
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International silver prices, which fluctuate based on global demand, industrial usage, and investment trends
Rupee–Dollar exchange rate, as silver is traded globally in US dollars

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\nIf the rupee weakens against the dollar while global silver prices remain stable, domestic silver prices tend to rise. Conversely, a stronger rupee can soften prices even if international rates hold steady.\n
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Silver Rates in Major Indian Cities
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City	Silver Price (10 grams)	Silver Price (100 grams)	Silver Price (1 kg)
Delhi	Rs 3,000	Rs 30,000	Rs 3,00,000
Mumbai	Rs 3,000	Rs 30,000	Rs 3,00,000
Kolkata	Rs 3,000	Rs 30,000	Rs 3,00,000
Chennai	Rs 3,000	Rs 30,000	Rs 3,00,000
Patna	Rs 3,000	Rs 30,000	Rs 3,00,000
Lucknow	Rs 3,000	Rs 30,000	Rs 3,00,000
Meerut	Rs 3,000	Rs 30,000	Rs 3,00,000
Kanpur	Rs 3,000	Rs 30,000	Rs 3,00,000
Ayodhya	Rs 3,000	Rs 30,000	Rs 3,00,000
Ghaziabad	Rs 3,000	Rs 30,000	Rs 3,00,000
Noida	Rs 3,000	Rs 30,000	Rs 3,00,000
Gurugram	Rs 3,000	Rs 30,000	Rs 3,00,000
Chandigarh	Rs 3,000	Rs 30,000	Rs 3,00,000
Jaipur	Rs 3,000	Rs 30,000	Rs 3,00,000
Ahmedabad	Rs 3,000	Rs 30,000	Rs 3,00,000
Pune	Rs 3,000	Rs 30,000	Rs 3,00,000
Ludhiana	Rs 3,000	Rs 30,000	Rs 3,00,000
Guwahati	Rs 3,000	Rs 30,000	Rs 3,00,000
Indore	Rs 3,000	Rs 30,000	Rs 3,00,000
Bhopal	Rs 3,000	Rs 30,000	Rs 3,00,000
Surat	Rs 3,000	Rs 30,000	Rs 3,00,000
Nagpur	Rs 3,000	Rs 30,000	Rs 3,00,000
Nashik	Rs 3,000	Rs 30,000	Rs 3,00,000
Bengaluru	Rs 3,000	Rs 30,000	Rs 3,00,000
Vadodara	Rs 3,000	Rs 30,000	Rs 3,00,000
Bhubaneswar	Rs 3,000	Rs 30,000	Rs 3,00,000
Kerala	Rs 3,000	Rs 30,000	Rs 3,00,000
Raipur	Rs 3,000	Rs 30,000	Rs 3,00,000
Belagavi	Rs 3,000	Rs 30,000	Rs 3,00,000
Cuttack	Rs 3,000	Rs 30,000	Rs 3,00,000
Hyderabad	Rs 3,000	Rs 30,000	Rs 3,00,000

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Silver Price Per Gram and Kilogram (INR)

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Quantity	Today	Yesterday	Change
1 gram	Rs 349.90	Rs 350.00	- Rs 0.10
8 grams	Rs 2,799.20	Rs 2,800.00	- Rs 0.80
10 grams	Rs 3,499	Rs 3,500	- Rs 1
100 grams	Rs 34,990	Rs 35,000	- Rs 10
1 kg	Rs 3,49,900	Rs 3,50,000	- Rs 100

Silver, however, has witnessed far sharper and more volatile moves in recent sessions. March silver futures settled at Rs 2,91,922 per kg, marking a steep decline of Rs 1,28,126—or nearly 30.5 per cent—from the record high of Rs 4,20,048 per kg. Market analysts attribute this heightened volatility to uncertainty surrounding industrial demand, especially from manufacturing and green-energy sectors, along with heavy profit booking after silver’s strong rally. The weakness deepened on February 1, when MCX silver prices plunged Rs 23,436 per kg, or 8.03 per cent, to Rs 2,68,489 per kg. In contrast, gold showed relative resilience, recovering part of its losses after suffering a sharp 9 per cent fall in the previous session, underscoring the divergent momentum between the two precious metals.\n
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\nWhile today’s dip is minor, silver remains in focus due to its dual role as an industrial metal and investment asset. Any sharp movement in the dollar, global interest rate expectations, or industrial demand—especially from electronics and renewable energy sectors—could influence prices in the coming sessions.\n
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\nInvestors and buyers are advised to keep an eye on both global silver trends and currency movements before making near-term purchase decisions.\n
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Silver Rate Today (2 February, 2026): Silver Crashes 36% From Record High as Sell-Off Deepens on MCX - Check Rates in Bengaluru, Chennai, Hyderabad...

SUMMARY