Silver Price Today: White Metal Hits Record ₹4 Lakh/kg Mark
As of January 29, 2026, the price of silver in India is approximately ₹410 per gram or ₹4,10,000 per kilogram. Prices have been highly volatile, recently surging to record highs driven by strong industrial demand, supply deficits, and safe-haven buying amid global economic uncertainty.
Record Highs
Silver prices recently surpassed the historic ₹4 lakh per kg mark in the spot market and ₹3 lakh per kg in futures trade on the MCX for the first time ever.
Strong Performance
Silver has been one of the best-performing commodities in early 2026, with some reports showing a rally of over 60% year-to-date, outperforming gold significantly.
Key Factors Driving Silver Prices Today
The surge is primarily attributed to strong demand from green technologies like solar panels and electric vehicles, an ongoing structural supply deficit, and investor interest in precious metals as a hedge against inflation and geopolitical instability.
Market Outlook
While the long-term outlook remains bullish, analysts caution about short-term volatility and potential consolidation after such a rapid rally, suggesting that high prices could lead to profit-taking.
Silver Rates in Major Indian Cities
| City | Silver Rate (₹/kg) | Change |
|---|---|---|
| Chennai | ₹4,25,000 | +₹25,000 |
| Mumbai | ₹4,10,000 | +₹30,000 |
| Delhi | ₹4,10,000 | +₹30,000 |
| Kolkata | ₹4,10,000 | +₹30,000 |
| Bangalore | ₹4,10,000 | +₹30,000 |
| Hyderabad | ₹4,25,000 | +₹25,000 |
| Mysore | ₹4,10,000 | +₹30,000 |
Rates are subject to change based on international market prices, the Rupee-Dollar exchange rate, and local taxes. For the most current information, consider checking financial news sources like the Times of India or Goodreturns.