Silver Rate Today, Feb 5: Silver prices fell sharply on Thursday, sliding 9 per cent to Rs 2,44,654 per kg on the MCX at the time of filing. Gold also weakened, declining 1.25 per cent to Rs 1,51,127 per 10 grams (24-karat), adding to the cautious sentiment across markets. In the previous session, silver had settled at Rs 2,84,000 per kg. The metal had earlier touched its all-time high of Rs 4,04,500 per kg on January 29 in the domestic market, before witnessing a steep correction in subsequent sessions. On Monday, silver had settled at Rs 2,36,261 per kg on the MCX.
It is important to note that between Friday and Monday, silver prices had plunged by nearly 41 per cent, leading to a massive loss of around Rs 1,63,632 per kg. This sharp correction came after silver hit a record high of Rs 4,20,048 per kg on January 29.
Gold, Silver Rates Today Live Updates
Silver prices strengthened in the international market as well. Spot silver jumped by $4.28, or 5.03 per cent, to trade at $89.35 per ounce.
Latest silver price in India
According to a report by Goodreturns, silver prices in India fell to around Rs 3,00,000 per kg on Thursday. We will share the latest silver prices in major Indian cities next to help buyers track current rates before purchasing silver jewellery.
City
10 Gram (₹)
100 Gram (₹)
1 Kg (₹)
Chennai
₹3,000
₹30,000
₹3,00,000
Mumbai
₹3,000
₹30,000
₹3,00,000
Delhi
₹3,000
₹30,000
₹3,00,000
Kolkata
₹3,000
₹30,000
₹3,00,000
Bangalore
₹3,000
₹30,000
₹3,00,000
Hyderabad
₹3,000
₹30,000
₹3,00,000
Kerala
₹3,000
₹30,000
₹3,00,000
Pune
₹3,000
₹30,000
₹3,00,000
Vadodara
₹3,000
₹30,000
₹3,00,000
Ahmedabad
₹3,000
₹30,000
₹3,00,000
What experts say
Jewellery buyers and investors are advised to check city-wise silver rates before making purchases, as prices may vary across regions and can change quickly.
Traders said a strong global trend and a weaker US dollar helped silver prices move higher, reviving investor interest in precious metals after last week’s heavy sell-off. According to news agency PTI, Lemon Markets Desk research analyst Gaurav Garg said silver extended its gains on Wednesday, rising as much as 6 per cent intraday after witnessing sharp volatility and a steep correction in recent sessions.
Silver also gained support from renewed safe-haven buying amid rising geopolitical tensions between the US and Iran. Somil Gandhi, Senior Analyst – Commodities at HDFC Securities, said the escalation has weakened optimism around US-Iran nuclear talks expected later this week, raising concerns over further conflict and boosting demand for safe-haven assets.
