Silver prices in India have taken a breather after weeks of sharp swings, as global cues begin to weigh more heavily on the metal. After touching record levels earlier this month, silver has now entered a phase where prices are moving sideways.
Silver rally cools after a volatile January
January was anything but calm for silver. Prices jumped sharply from the start of the month. The key factors for this sharp surge include global uncertainty, a weaker dollar and strong safe-haven demand.
By the end of January, silver had climbed close to record levels. As of January 31, physical silver in India is trading around Rs 3.35 lakh per kilogram. On the Multi-Commodity Exchange (MCX), silver March futures were trading around Rs 3.95 lakh per kilogram.
Why have silver prices corrected sharply?
The recent fall in silver prices was triggered by a mix of global factors.
- A stronger US dollar has reduced the appeal of precious metals, as they become more expensive for overseas buyers.
- At the same time, gold prices saw a decline, dragging silver lower due to their close correlation.
- Market sentiment also shifted after US President Donald Trump nominated Kevin Warsh as the next Chair of the Federal Reserve.
Silver Rate Today in India Live Updates: Reasons for silver’s sharp plunge - Fed leadership change
One of the biggest triggers for the sharp fall in silver prices was the change at the top of the US Federal Reserve. The appointment of Kevin Warsh, known for backing tighter monetary control, shifted expectations quickly.
Since silver does not generate interest, higher or steady rates tend to reduce its appeal, leading to selling pressure.
Silver Rate Today in India Live Updates: Silver rally sparks profit booking
Another reason for the sharp fall was that silver prices had risen too fast in a short period. As prices started slipping, traders and investors chose to lock in profits. Some players also cut back on risky bets, while higher margin requirements forced others to exit their positions. Together, these factors turned what could have been a normal correction into a sudden and steep decline.
Silver Rate Today in India Live Updates: Budget day puts gold and silver in focus
Gold and silver prices are likely to stay in focus as the Union Budget is set to be presented tomorrow. Traders and jewellers are watching closely to see if the government announces any changes related to taxes or import rules, which often influence domestic precious metal prices.
Silver Rate Today in India Live Updates: Analyst says long term outlook for silver supportive
Commenting on the price movement of silver, Ponmudi R, CEO of Enrich Money said , "Silver endured even more extreme volatility, plunging nearly 40% from highs above $118–$121 to around $74–$85 (with lows near $74). "
He added that this outsized correction aligns with historical late-stage bull phase shakeouts, but silver's hybrid monetary-industrial profile continues to underpin the outlook amid persistent supply tightness and demand growth.
The $74–$70 zone, aligning with the 50-day EMA, forms critical demand support. Stability above this base could facilitate a rebound toward $82–$92–$100+ as industrial tailwinds re-emerge and momentum rebuilds. The ascending channel remains supportive on shallow pullbacks, the anayst said.
Silver Rate Today in India Live Updates: IndusInd Securities says geopolitical and economic uncertainties fuelling silver ralley
Jigar Trivedi, Senior Research Analyst at Indusind Securities says that The rally has been fueled by persistent geopolitical and economic uncertainties, which boosted safe-haven demand, alongside a sharp depreciation in the dollar triggered by shifting policies in Washington and President Donald Trump’s apparent indifference to the currency’s weakness.
"Trump also said he will announce his pick for a nominee to chair the Federal Reserve on Friday morning, with reports suggesting former Fed governor Kevin Warsh as the likely choice. Silver’s surge was further supported by a tight physical market, with both investment and industrial demand hitting record levels. MCX Silver March prices may experience a profit booking as prices have declined by more than 4% in the world markets too, Rs. 380,000/kg is support for the day." Trivedi added.
Silver Rate Today in India Live Updates: Risk associted with buying large ammounts
Buying high ammounts of silver could be a risk. When retail investors pile in after major price increases, they often end up buying near the top. Professional investors and central banks have been accumulating gold and silver for years, at much lower prices.
No income, higher risk. Unlike shares or bonds, metals don't pay dividends or interest. Your entire return depends on prices rising further from already elevated levels. And as the past few days have shown, the potential for sharp drawdowns is substantial.
Silver Rate Today in India Live Updates: Silver and Gold trading comparision
Over the past year, gold ETF trades on CommSec grew 47 per cent, with cumulative net buying reaching AUD 158 million. That reflects gold's established role in portfolios.
Yet despite attracting slightly lower total investment overall at AUD 104 million, silver trading activity exploded by far more: it's been 1,000 per cent higher than the year before.
This means retail investors made far more frequent, smaller trades in silver. This is classic momentum-chasing behaviour, as everyday investors piled into an asset showing dramatic price gains.
The pattern is unmistakable: while gold remains the anchor, silver has become the speculative play.
Silver Rate Today in India Live Updates: Role of industrial demand in silver price hike
Unlike gold, silver has a split personality. Industrial uses are driving up demand for silver. It's critical for clean energy technologies, including solar panels, electric vehicles (EVs), and semiconductors.
This dual appeal as a safe haven and as an in-demand industrial commodity is drawing investors who see multiple reasons for prices to keep climbing.
Every solar panel contains about 20 grams of silver. The solar industry accounts for nearly 30 per cent of global silver demand.
EVs also use 25-50 grams each, and AI data centres need silver for semiconductors.
Silver Rate Today in India Live Updates: Budget day puts gold and silver in focus
Gold and silver prices are likely to stay in focus as the Union Budget is set to be presented tomorrow. Traders and jewellers are watching closely to see if the government announces any changes related to taxes or import rules, which often influence domestic precious metal prices.
Also read: Gold & Budget 2026: What FM Sitharaman may — and may not — announce on Sunday
Silver Rate Today in India Live Updates: Silver rally sparks profit booking
Another reason for the sharp fall was that silver prices had risen too fast in a short period. As prices started slipping, traders and investors chose to lock in profits. Some players also cut back on risky bets, while higher margin requirements forced others to exit their positions. Together, these factors turned what could have been a normal correction into a sudden and steep decline.
Silver Rate Today in India Live Updates: What were the opening bullion rates on Saturday?
According to a PTI update on Saturday morning, one gram of 22 karat gold was trading at Rs 14900.00 while a single gram of 18 karat gold stood at 12800.00. One gram of silver stood at Rs 350.00.
Silver Rate Today in India Live Updates: Rising US dollar and bond yields pressure silver prices
Silver also came under pressure as the US dollar strengthened sharply. Earlier, a weaker dollar had supported precious metals by making them cheaper for global buyers.
A stronger dollar usually makes dollar-priced commodities like silver more expensive overseas, reducing demand. At the same time, higher bond yields offer investors alternative options, pulling money away from metals and adding to the downward pressure on silver prices.
Also read: Gold & Budget 2026: What FM Sitharaman may — and may not — announce on Sunday
Silver Rate Today in India Live Updates: Reasons for silver’s sharp plunge - Fed leadership change
One of the biggest triggers for the sharp fall in silver prices was the change at the top of the US Federal Reserve. The appointment of Kevin Warsh, known for backing tighter monetary control, shifted expectations quickly.
Since silver does not generate interest, higher or steady rates tend to reduce its appeal, leading to selling pressure.
Also read: Gold rate drops Rs 10,842, Silver slides Rs 46,691: Is the precious metals bull run over?
Silver Rate Today in India Live Updates: Silver prices across major Indian cities
Silver prices have eased to around Rs 2,92,280 per kg, with rates. In the national capital, Delhi, silver is quoted at Rs 2,91,770 per kg.
In Chennai, silver is trading near Rs 2,93,130 per kg, while Hyderabad is seeing prices around Rs 2,92,740 per kg.
Bengaluru remains close to these levels, with rates hovering near Rs 2,92,510 per kg.
In Kolkata, silver is priced at approximately Rs 2,91,890 per kg.
Silver, which had been in sharp focus after scaling record levels, witnessed a steep correction on Friday, catching market participants off guard.
In the national capital, Delhi, silver is currently priced at Rs 2,91,770 per kg.
As per the financial express data:
Silver Rate Today in India Live Updates: Silver may move to Rs 3.4 lak/kg on supply constraints
Giving the resistance snd support prices for silver on MCX, Ponmudi R, CEO of Enrich Money, has said,
"Elevated volatility persists, but structural supports are evident near ₹2,91,000, with stronger alignment around ₹2,51,000–₹2,52,000 tied to the 50-day EMA."
He further added that industrial demand convergence maintains relative strength potential; a decisive hold and move back above ₹3,00,000–₹3,10,000 would signal renewed buying interest, potentially accelerating toward ₹3,40,000–₹3,50,000+ on supply constraints.
Silver Rate Today in India Live Updates: Is bull run over?
Analysts maintain that despite significant selling pressure, the overall market uptrend remains intact. While cautioning investors against buying in haste and without a plan, they expect this correction to be followed by a rebound.
“I still believe several gold-supportive drivers remain in place, but after the strong rally in recent weeks, a consolidation is healthy,” said UBS analyst Giovanni Staunovo to Reuters.
Since 2023 January, over the last three years, gold is up 200%, silver up 366%. On Friday, gold dropped 10%, to close at $4,887, while silver slumped nearly 27% to close at $84.
Read more: Gold rate drops Rs 10,842, Silver slides Rs 46,691: Is the precious metals bull run over?
Silver Rate Today in India Live Updates: What were the opening bullion rates on Saturday?
According to a PTI update on Saturday morning, one gram of 22 karat gold was trading at Rs 14900.00 while a single gram of 18 karat gold stood at 12800.00. One gram of silver stood at Rs 350.00.
Silver Rate Today in India Live Updates: Silver sheds 37% on Comex
On January 30, the March delivery contract of silver on Comex fell by 37% from its high of $118 to an all time low of $74.
Analysts have attributed the volatility in the prices of silver to steep profit-booking and a rebound in the dollar index. Further, nomination of Kevin Warsh as the next chair of US Federal Reserve added to the price correction.
Silver Rate Today in India Live Updates: Why gold has been hitting new highs?
Gold is the classic safe haven: an asset people buy to protect their savings when worried about financial risks. With international political tensions rising, trade war threats, shifting signals about where interest rates are heading and a potential changing world order, investors are seeking assets that feel stable when everything else looks shaky.
Friday's crash in gold and silver was sparked by financial markets reacting to early news of Donald Trump's nomination of Kevin Warsh as chair of the US Federal Reserve. The US central bank plays a key role in global financial stability. Central banks around the world have been buying gold at a rapid pace, reinforcing its reputation as a place to park value during periods of uncertainty.
But it's not just big institutions moving the market. Individuals buying and selling smaller amounts for themselves have also played a part.
Silver Rate Today in India Live Updates: From Budget 2025 to 2026 - How have prices changed?
Despite the big crash, how much have gold and silver prices risen over the past year?
Last year, on Budget 2025, in Delhi, the gold rate was Rs 84,000 per 10 grams for 24 carat and the silver rate on February 1, 2025, was Rs 99,600/Kg. Since the last budget 2025, the gold price in India has jumped 95%, and silver has gained 233%.
Read more about what to expect as FM Sitharaman announces Budget 2026.
Silver Rate Today in India Live Updates: When would Kevin Warsh take over as US Fed chair?
While markets reacted sharply to the nomination of Kevin Warsh as US Fed chair, no actual change will happen till May or June this year. Jerome Powell will finish his term at the helm on May 15 and likely remain a Board member till the end of January 2028.
The confirmation process for the Fed Chair is also lengthy --- typically involving months of hearings, votes and full Senate approval.
Silver Rate Today in India Live Updates: When would Kevin Warsh take over as US Fed chair?
While markets reacted sharply to the nomination of Kevin Warsh as US Fed chair, no actual change will happen till May or June this year. Jerome Powell will finish his term at the helm on May 15 and likely remain a Board member till the end of January 2028.
The confirmation process for the Fed Chair is also lengthy --- typically involving months of hearings, votes and full Senate approval.
According to the latest data, both gold and silver prices have fallen sharply over the past 24 hours.
- 24 karat gold was trading at Rs 1,49,330 in Delhi (for 10 gram) while while 22 karat gold stood at Rs 1,36,885.8 on Saturday.
- The silver rate in Delhi stood at Rs 2,917.7 for 10 grams on Saturday
Check the detailed gold and silver rates by clicking here.
Silver Rate Today in India Live Updates: Who is Kevin Warsh? Why did Trump nomination wreak havoc?
Kevin Warsh was the youngest-ever Federal Reserve Governor (appointed at just 35) and served on the Board during the turbulent financial crisis years from 2006 to 2011. He had previously advised Trump on economic policy and almost secured a Fed nomination from the POTUS during his first term.
Warsh has aligned himself with Trump in recent months by arguing for lower interest rates. He has also called for regime change at the central bank and wants a smaller Fed balance sheet — a goal seemingly at odds with Trump’s preference for looser monetary policy.
His hawkish reputation shifted market expectations drastically on Friday --- toward Fed independence, potential higher rates, and a stronger dollar. This had led to a sharp reversal of the gold and silver rally.
Silver Rate Today in India Live Updates: Is gold expensive today?
According to the latest data, gold prices have fallen by Rs 2,058 over the past 24 hours to stand at Rs 14,959 per gram (for 24 karat gold) or Rs 1,49,590 for 10 gm. The yellow metal dipped by 12.09% on Friday amid profit-taking and a fresh dollar surge.
24 karat gold was trading at Rs 1,49,330 in Delhi (for 10 gram) and stood at Rs 1,49,590 in Mumbai on Saturday.
Silver Rate Today in India Live Updates: What triggered the dip? HDFC Securities analyst says...
"Gold and silver experienced a significant correction on Friday as investors moved to aggressively book profits following a recent record-breaking rally. This decline was mainly fuelled by the heavy liquidation of long positions by large institutional players, who sought to secure gains after a strong multi-session advance," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, told PTI.
He added that a recovery in the US dollar placed further pressure on bullion. The combination of stretched technical conditions, institutional profit-taking, and a recovery in the US dollar that is likely to continue adds pressure on bullion in the short term.
"From a technical standpoint, both gold and silver had been trading in overbought territory over the past several sessions, heightening the risk of a corrective move."
Silver Rate Today in India Live Updates: What triggered the dip? HDFC Securities analyst says...
"Gold and silver experienced a significant correction on Friday as investors moved to aggressively book profits following a recent record-breaking rally. This decline was mainly fuelled by the heavy liquidation of long positions by large institutional players, who sought to secure gains after a strong multi-session advance," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, told PTI.
He added that a recovery in the US dollar placed further pressure on bullion. The combination of stretched technical conditions, institutional profit-taking, and a recovery in the US dollar that is likely to continue adds pressure on bullion in the short term.
"From a technical standpoint, both gold and silver had been trading in overbought territory over the past several sessions, heightening the risk of a corrective move."
Silver Rate Today in India Live Updates: Silver falls 35% intraday but close month in green
Silver reportedly fell by more than 35% intraday amid upheaval on Friday. This is believed tobe the largest intraday drawdown in history. But despite the dip, silver has closed January in the green with a 19% rise. Put more simply, the precious metal has now been rising for nine straight months despite the record lows it hit on Friday.
Silver Rate Today in India Live Updates: Trump sends markets careening with US Fed chair pick
Stocks fell on Wall Street, while gold and silver prices plunged as investors tried to gauge what President Donald Trump’s new nominee to lead the Federal Reserve will mean for interest rates.
The S&P 500 dropped 0.4% after sinking as much as 1.1% earlier on Friday. The Dow Jones Industrial Average fell 0.4%, and the Nasdaq composite lost 0.9%.
The value of the US dollar rallied but only after swivelling a couple of times.
Gold’s price dropped 11%, and silver plummeted more than 30% as tremendous rallies for both metals suddenly halted.
Treasury yields held relatively steady in the bond market.