Silver Prices Dip in India Today

• Silver prices dipped slightly on Feb 2, 2026, due to global cues.
• MCX silver futures saw a sharp 30.5% decline from record highs.
• Industrial demand and dollar movement influence future silver prices.

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

priced at Rs 349.90 per gram and Rs 3,49,900 per kilogram, down slightly from the previous session. The decline is modest but visible across retail and bulk quantities, indicating cautious sentiment in the precious metals market. Silver Rates Today: Key Highlights

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

This small correction comes after recent volatility in bullion prices, as investors continue to track global economic signals and currency trends.

What Determines Silver Prices in India?

Silver prices in India are primarily influenced by:

• 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

If 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.

Silver Price Per Gram and Kilogram (INR)

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 Rates in Major Indian Cities

Silver prices vary across cities due to local taxes, transportation costs, and regional demand.

City	10 gram	100 gram	1 kg
Chennai	Rs 3,199	Rs 31,990	Rs 3,19,900
Mumbai	Rs 3,499	Rs 34,990	Rs 3,49,900
Delhi	Rs 3,499	Rs 34,990	Rs 3,49,900
Kolkata	Rs 3,499	Rs 34,990	Rs 3,49,900
Bangalore	Rs 3,499	Rs 34,990	Rs 3,49,900
Hyderabad	Rs 3,199	Rs 31,990	Rs 3,19,900
Kerala	Rs 3,199	Rs 31,990	Rs 3,19,900
Pune	Rs 3,499	Rs 34,990	Rs 3,49,900
Ahmedabad	Rs 3,499	Rs 34,990	Rs 3,49,900
Jaipur	Rs 3,499	Rs 34,990	Rs 3,49,900
Patna	Rs 3,499	Rs 34,990	Rs 3,49,900
Chandigarh	Rs 3,499	Rs 34,990	Rs 3,49,900
Coimbatore	Rs 3,199	Rs 31,990	Rs 3,19,900
Vijayawada	Rs 3,199	Rs 31,990	Rs 3,19,900
Bhubaneswar	Rs 3,199	Rs 31,990	Rs 3,19,900

MCX silver slides sharply on profit booking

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.


While 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.

Investors and buyers are advised to keep an eye on both global silver trends and currency movements before making near-term purchase decisions.