Silver prices are swinging wildly. Internationally, silver spot prices are under pressure in early Asia trade but they have rebounded almost 23% from their recent record lows.
On MCX, Silver March Futures are hovering near the Rs 2.57 lakh per kg levels.
US economic data lifts sentiment for safe-haven bets
Silver saw a volatile session on Wednesday. Prices are in the red now but earlier they surged as weak US economic data lifted safe-haven demand. December retail sales unexpectedly showed no growth, underscoring mounting pressure on consumer spending.
The attention shifted to the delayed January US jobs report, where a softer reading could further support precious metals, said Ajay Kedia, Founder of Kedia Advisory.
Markets are currently factoring in about 60 basis points of Federal Reserve rate cuts by year-end. At the same time, investors are rotating away from dollar-denominated assets amid policy uncertainty, although recent sharp rallies and sell-offs have kept volatility concerns elevated, he added.
What happened earlier?
In late January, silver prices surged to unprecedented heights, nearing the $120 per ounce. Analysts remarked that the increase in price was primarily fueled by strong investment demand, a weak US Dollar, and heightened expectations for interest rate reductions by the US Federal Reserve.
But soon there was a heavy sell-off in Silver from its recent highs. Adding to that, the CME Group (which manages COMEX) raised margins on 5000 Silver Futures to 18% from the earlier 15%.
Silver Rate Today in India Live Updates: MCX Silver down 2%
As of 6:00 pm, the March delivery contract of silver was down 2.2% trading at Rs 2,57,237 on MCX.
Viewers are advised to check the official website of MCX for more details on contract delivery date, size, volume, etc.
Silver Rate Today in India Live Updates: Kotak says silver retreats on strong US jobs data
"Spot silver’s sharp retreat below $81/oz followed stronger-than-expected US labor data, which prompted traders to delay expectations for Federal Reserve rate cuts." Kaynat Chainwala, AVP Commodity Research, Kotak Securities said.
The analyst added that earlier in the session, silver jumped to $86.3/oz, supported by the Silver Institute’s forecast that the market is expected to remain in deficit in 2026 for a sixth consecutive year, underpinned by strong investment demand.
" Also, the Shanghai exchange barred some hedgers from carrying silver futures into delivery without a quota, adding pressure as COMEX inventories drain in an already tight market." Chainwala said.
Silver Rate Today in India Live Updates: MCX Silver down over 1%
On MCX, the March delivery contract for silver was down 1.13% trading at Rs 2,60,048 per kg, as of 04:21 pm.
In international markets, spot silver is trading near the $83/oz mark.
Silver Rate Today in India Live Updates: Experts bullish on silver over tight supply in China
Despite today's pullback, many analyst remain bullish on silver over its tight supply in China, which is one of the leading consumers of the white metal.
According to a Bloomberg report, China’s silver stockpiles are being drained by heavy investment and industrial demand. It added that the silver contract on Shanghai Futures Exchange (SHFE) with the nearest expiration date has surged to a record premium, reflecting the demand for prompt deliveries as supply lags.
Silver Rate Today in India Live Updates: Silver eases over dim expectations of rate cut
On MCX, the most-active March contract of silver is down 0.66% at Rs 2,61,278 per kg. The prices eased over dimmed expectations of additional rate cuts by the US Federal Reserve as strong US jobs data was reported.
Non-interest yielding assets like gold and silver tend to perform well in lower interest rate environments.
Silver Rate Today in India Live Updates: Comparison to 1980
The comparison with 1980 is largely about scale. That episode was driven by extreme leverage and concentrated positioning, ending with regulatory intervention. The 2026 selloff, by contrast, was broad-based—spread across hedge funds, ETFs, retail investors, and systematic strategies—with no single dominant player or policy clampdown.
Silver Rate Today in India Live Updates: Silver ETFs down on price decline
With MCX contracts, COMEX futures, and ETFs all under pressure before the closing bell, silver is witnessing broad-based declines across exchanges as trading remained active.
Tata Silver Exchange Traded Fund was trading at Rs 24.94, down 0.24%, while Nippon India Silver ETF stood at Rs 245.82, lower by 0.63%, and Zerodha Silver ETF was at Rs 26.09 after falling 0.50%. ICICI Prudential Silver ETF traded at Rs 256.39, down 0.52%, HDFC Silver ETF was at Rs 245.60 with a decline of 0.57%, and Groww Silver ETF was quoted at Rs 25.14, lower by 0.55% in midday trade.
Silver Rate Today in India Live Updates: Silver's early sell-off
Silver’s sharp selloff in early 2026—falling more than 40% from its late-January peak near $121 per ounce to around $70 an ounce—has revived comparisons with the metal’s historic collapses in 1980 (-65%) and 2011 (-35%). While the magnitude of the decline appears familiar, the underlying structure reflects a distinctly modern market dynamic driven by leverage, macro repricing, and rapid capital rotation rather than a breakdown in physical fundamentals.
Silver Rate Today in India Live Updates: Spot Silver at $83/oz in international markets
In international markets, spot silver is trading near the $83/oz levels largely on dollar weakness.
On MCX, the March delivery contract for silver is down 0.84% trading at Rs 2,60,800 per kg as of 1:09 pm.
Silver Rate Today in India Live Updates: Silver in January 2026
After opening the year near $72.40/troy ounce, silver surged nearly over 68% intra-month to record highs by January-end, fueled by geopolitical risk premiums, strong industrial demand narratives, and aggressive positioning across futures and ETFs. The rally, however, became increasingly momentum-driven as volatility remained compressed and leverage expanded rapidly.
On MCX, the March delivery contract for silver was down 0.77% trading at Rs 2,61,000 lakh per kg as of 12:14 pm.
Viewers are advised to check the official website of MCX for more details on contract delivery date, size, volume, etc.
Silver Rate Today in India Live Updates: Peter Schiff says gold and silver to soar as Dollar to bottom
American economist, Peter Schiff in a social media post on X had said that prices of silver and gold will go soaring high as the US dollar is about to drop down.
He also added that owing to the drop in dollar investors will also sell American stocks and shift to other foreign stocks.
https://twitter.com/PeterSchiff/status/2021723520317722995?s=20
Silver Rate Today in India Live Updates: Analyst say silver may revive back to the $100/oz mark
"While the higher timeframe structure remains bullish, the sharp pullback has pushed prices below key moving averages, reflecting short-term bearish pressure. Strong buying interest is observed in the $65–$70 support band, aligned with prior swing lows and long-term trend support." Ponmudi R, CEO of Enrich Money said.
He added that a sustained hold above this base, followed by a recovery and close above $85–$92, could revive upside momentum towards $95–$105 and eventually a retest of previous highs.
The analyst says that the medium- to long-term outlook remains constructive, supported by structural supply constraints and steady industrial demand, though volatility remains elevated.
Silver Rate Today in India Live Updates: Silver price (1 Kg) across major cities
Silver prices for 1 kilogram vary slightly across key cities. In Chennai, 1 kg of silver is priced at Rs 3,00,000, while in Mumbai, Delhi and Kolkata, the price stands at Rs 2,95,000 per kilogram.
Silver Rate Today in India Live Updates: Silver Outlook
"MCX Silver futures are trading near the Rs 2,50,000–Rs 2,70,000 zone after a sharp correction from record highs around Rs 4,20,000. Although the long-term bullish structure remains intact, prices have slipped below major moving averages, indicating ongoing short-term corrective pressure. Strong support is seen in the Rs 2,25,000–Rs 2,60,000 band, aligned with prior structural bases. A sustained hold above this region, followed by a decisive recovery, could trigger upward momentum towards Rs 3,00,000–Rs 3,25,000. Dips towards support may continue to offer accumulation opportunities for positional participants, though a decisive breakdown below this zone could extend the correction further," said Ponmudi R, CEO of Enrich Money
Silver Rate Today in India Live Updates: Safe haven demand rises
Despite the pullback, silver and other precious metals continued to draw support from safe-haven demand and the so-called debasement trade, as investors hedge against currency erosion and mounting sovereign debt burdens. "MCX Silver March prices are likely to drop to Rs. 257,000/kg as it's trading with the weak sentiment in the world markets," said Jigar Trivedi, Senior Research Analyst at Indusind Securities.
Silver Rate Today in India Live Updates: Silver outlook
Silver dropped more than 2% to around $82/ounce, reversing the previous session’s gains after stronger-than-expected US labour market data dampened expectations for near-term Federal Reserve rate cuts. Nonfarm payrolls increased by 130K in January, more than double consensus forecasts and a sharp acceleration from December.
"The unemployment rate also unexpectedly edged down to 4.3%, highlighting underlying labour market resilience despite earlier signs of softening. The robust data pushed Treasury yields higher and reinforced Fed officials’ inclination to keep rates on hold for now, with markets now anticipating the next rate cut to come in July instead of June," said Jigar Trivedi, Senior Research Analyst at Indusind Securities.
Silver Rate Today in India Live Updates: Key factors behind fall in Silver prices
January nonfarm payrolls increased by 130K, more than double consensus estimates and sharply higher than December’s reading, while the unemployment rate unexpectedly edged down to 4.3%. The data lifted Treasury yields and reinforced the Fed’s preference to keep rates unchanged, with markets now pricing the next rate cut in July instead of June. Despite the decline, silver retained underlying support from safe-haven flows and currency debasement hedging.
Silver Rate Today in India Live Updates: IndusInd Securities on recovery in Silver
Silver climbed more than 1.5% toward $82.4/ounce, recovering losses from the previous session as disappointing US economic data and deteriorating confidence in US assets boosted safe-haven demand. "US retail sales data released Tuesday showed activity unexpectedly stalled in December, highlighting pressure on consumer spending. Investors are now focused on the delayed US January jobs report, with a weaker-than-expected reading likely to further support precious metals," said Jigar Trivedi, Senior Research Analyst at Indusind Securities.
Silver Rate Today in India Live Updates: Ajay Kedia on factors behind wild swings inn Silver
'Markets are currently factoring in about 60 basis points of Federal Reserve rate cuts by year-end. At the same time, investors are rotating away from dollar-denominated assets amid policy uncertainty, although recent sharp rallies and sell-offs have kept volatility concerns elevated," said Ajay Kedia, Founder of Kedia Advisory.