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Silver Price Today: Silver Climbs Again Above ₹2.40 Lakh per kg in Major Cities; Check Today's Latest Rates
Silver Price Today: Silver prices continued their upward trend on Thursday, with rates crossing ₹2.40 lakh per kilogram in several major cities, including Delhi and Mumbai. The precious metal also gained on the Multi Commodity Exchange (MCX), while the domestic bullion market witnessed renewed buying interest. If you're planning to buy silver today, here's a complete look at the latest city-wise prices, MCX updates, and the factors driving the rally.
Silver Prices Rise in the Domestic Market
Silver prices moved higher once again in India's bullion market, supported by strong investor demand and positive market sentiment. According to the latest market data, silver is trading close to ₹240 per gram and around ₹2,40,000 per kilogram in many retail markets across the country.
The latest rally comes after silver recorded a sharp jump in recent trading sessions, reflecting increased interest in precious metals amid changing global economic conditions.
Meanwhile, the All India Sarafa Association reported silver prices reaching around ₹2,32,700 per kilogram (inclusive of taxes), while retail market trackers quoted rates near ₹2,40,000 per kilogram, depending on the city and seller.
Today's Silver Prices Across Major Indian Cities
The latest retail silver rates remain largely uniform across several cities.
| City | 10 Grams | 100 Grams | 1 Kilogram |
|---|---|---|---|
| Delhi | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Mumbai | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Kolkata | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Chennai | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Jaipur | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Lucknow | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Patna | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Chandigarh | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Gurugram | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Noida | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Ghaziabad | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Kanpur | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Ayodhya | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Meerut | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Ahmedabad | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Surat | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Vadodara | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Pune | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Nagpur | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Nashik | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Bengaluru | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Hyderabad | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Bhubaneswar | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Raipur | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Guwahati | ₹2,400 | ₹24,000 | ₹2,40,000 |
| Indore | ₹2,400 | ₹24,000 | ₹2,40,000 |
Retail prices may vary slightly depending on local taxes, making charges, and jewellers.
MCX Silver Price Today
Silver futures also traded higher on the Multi Commodity Exchange (MCX).
Market highlights include:
- Silver gained ₹607 during trading.
- Prices were up by approximately 0.27%.
- MCX silver traded near ₹2.27 lakh per kilogram.
The rise reflects sustained buying interest in the domestic futures market.
Global Silver Prices Today
International precious metal markets showed mixed trends.
On the COMEX:
- Gold rose about 0.47%, reaching nearly $4,325 per ounce.
- Silver edged lower by around 0.12%, trading near $62.215 per ounce.
Despite the slight decline in international silver prices during the session, domestic markets remained supported by local demand and overall bullish sentiment.
Why Are Silver Prices Rising?
Market analysts attribute the recent strength in silver prices to several global and domestic factors.
Increased Demand for Safe-Haven Assets
Precious metals continue to attract investors seeking relatively stable investment options amid global economic uncertainty.
Changing Interest Rate Expectations
Expectations that the U.S. Federal Reserve may adopt a less aggressive monetary policy have influenced investor sentiment toward bullion.
Pressure on U.S. Bond Yields
Lower demand for U.S. Treasury securities has encouraged some investors to shift funds toward precious metals such as gold and silver.
Improved Market Sentiment
Easing geopolitical concerns and improving confidence in commodity markets have also contributed to renewed buying activity.
Previous Trading Session
According to the All India Sarafa Association, silver prices rose sharply in the previous session.
Key highlights include:
- Silver gained around ₹6,200 per kilogram.
- Prices reached nearly ₹2,32,700 per kilogram (inclusive of taxes).
- In the previous session, silver had closed near ₹2,26,500 per kilogram.
- The latest rise pushed prices to their highest level in about a month.
Should You Buy Silver Now?
Silver prices can be influenced by global economic conditions, industrial demand, currency movements, interest rate expectations, and investor sentiment. While recent gains indicate strong market momentum, precious metal prices remain volatile and may fluctuate in the short term.
If you are considering purchasing silver for investment purposes, experts generally recommend evaluating your financial goals, risk tolerance, and investment horizon before making a decision. Consulting a qualified financial advisor may also help you choose an approach that suits your individual needs.
Final Thoughts
Silver extended its gains on Thursday, with retail prices in several major Indian cities hovering around ₹2,40,000 per kilogram, while MCX futures also moved higher. Although international silver prices saw a slight dip during the session, domestic demand and positive market sentiment continued to support prices.
Whether you're buying silver for jewellery or investment, checking the latest city-wise rates and understanding the factors influencing the market can help you make a more informed decision.
