Silver Price Today, February 8: Silver prices have remained under pressure in recent sessions, and all eyes will be on the Multi Commodity Exchange (MCX)
today as markets reopen after the weekend. On MCX, silver futures were last seen at Rs 2,49,499 per kilogram, extending the recent downward trend. In the international market, spot silver moved slightly higher and was trading at around $74 per ounce, offering limited support to prices. In the domestic bullion market, the All India Sarafa Association said silver was priced at Rs 2,55,000 per kilogram in Delhi, inclusive of all taxes. Meanwhile, data from the Indian Bullion and Jewellers Association (IBJA) showed silver slipping further to Rs 2,44,929 per kilogram by Monday morning. It may be recalled that silver had touched a record high on January 29, when prices surged beyond Rs 4.10 lakh per kilogram, underscoring the sharp correction since then. Also Read - Gold Rate Today (February 9, 2026): Check Prices Of 24K, 22K & 18K In Delhi, Mumbai, Chennai, Bangalore, Hyderabad & Other Major Cities Meanwhile, Goodreturns data showed silver trading at around Rs 2,84,900 per kilogram, reflecting variations across different pricing sources. We now take a look at the latest silver jewellery rates in major Indian cities, helping buyers check current prices before making a purchase.
| City | 10 Gram Price | 100 Gram Price | 1 Kg Price |
| Chennai | ₹2,849 | ₹28,490 | ₹2,84,900 |
| Mumbai | ₹2,849 | ₹28,490 | ₹2,84,900 |
| Delhi | ₹2,849 | ₹28,490 | ₹2,84,900 |
| Kolkata | ₹2,849 | ₹28,490 | ₹2,84,900 |
| Bangalore | ₹2,849 | ₹28,490 | ₹2,84,900 |
| Hyderabad | ₹2,849 | ₹28,490 | ₹2,84,900 |
| Kerala | ₹2,849 | ₹28,490 | ₹2,84,900 |
| Pune | ₹2,849 | ₹28,490 | ₹2,84,900 |
| Vadodara | ₹2,849 | ₹28,490 | ₹2,84,900 |
| Ahmedabad | ₹2,849 | ₹28,490 | ₹2,84,900 |
“Last week's steep plunge was driven by hawkish Fed expectations after Kevin Warsh's nomination, a stronger dollar, and sharp CME margin hikes that forced leveraged unwinding,” said Hareesh V, Head of Commodity Research at Geojit Investments Limited, as quoted by The Economic Times. He added that profit-taking after silver touched record highs further amplified volatility in the market.
Is This a Buying Opportunity?
Despite the sharp correction, several fund managers believe silver’s long-term outlook remains intact, supported by supply constraints and steady industrial demand. However, they stress that investors should remain disciplined.
“Yes, at current levels investors can consider taking exposure to silver ETFs with a long-term perspective and through a systematic approach,” said Satish Dondapati, Fund Manager at Kotak Mahindra AMC, as quoted by ET. He advised investors to keep exposure to precious metals within 15–20 per cent of their portfolio, depending on risk appetite.
From a technical standpoint, experts suggest silver may be entering a stabilisation phase. Prices are currently trading in the $71–$80 demand zone, with strong support seen near $64, which coincides with the 100-day moving average. This could open the door for a gradual recovery after the steep fall from levels above $120 per ounce.
