Magic In Silver Rates; Silver In Chennai, Hyderabad Highest At Rs 3.45 Lakh, Silver Cheaper In Bengaluru

Silver rates in India skyrocketed to new all-time high as tensions escalate in western countries which could have a significant impact on global trade economy. On January 21, silver prices in India clocked Rs 3.30 lakh mark for the first time ever. But did you know in cities like Chennai and Hyderabad, silver is at highest level to Rs 3.45 lakh per 1Kg. This is expensive than neighbouring cities like Bengaluru.

Silver Rates In Chennai + Silver Rates In Hyderabad:

Silver prices in these two cities are similar. Hence, on January 21, 1Kg silver rate climbed by Rs 5,000 to hit new all-time high of Rs 3,45,000. While 100 grams and 10 grams silver prices climbed by Rs 500 and Rs 50 to Rs 34,500 and Rs 3,450. Further, 8 grams gold surged by Rs 40 to Rs 2,760. The cheapest silver is at Rs 345 per 1 gram.

Silver Rates In Bengaluru:

Unlike the above two cities, silver rises by Rs 10,000 to hit a new record of Rs 3.30 lakh in Bengaluru. Here, 100 grams silver surged by Rs 1,000 to Rs 33,000 and 10 grams climbed by Rs 100 to Rs 3,300. Further, 8 grams silver edged higher by Rs 80 to Rs 2,640 and 1 gram is up by Rs 10 to Rs 330.

What Is Impacting Silver Prices?

According to Colin Shah, MD, Kama Jewelry, this current surge in gold and silver prices is largely driven due to the global uncertainty and geopolitical tensions, which are pushing investors towards gold as a safe-haven. A strong international demand, coupled with concerns around inflation and potential trade disruptions due to the Trump Tariffs, are primary triggers driving the prices of both precious metals to a new high.

While such volatility may persist in the near term, Shah also added that these elevated prices could lead to cautious consumer sentiment in the jewellery market, especially in price-sensitive segments. This may Internationally cause further disruptions both in terms of exports as well as buyers' approach especially towards the yellow metal when it comes to the end-consumer segment.

Will Silver Continue To Rally Ahead?

Domestically, Shah believes that the demand is unlikely to disappear rather, it may also shift towards lighter jewellery, flexible purchasing options, and investment-led buying. In the medium to long term, sustained economic uncertainty will continue to keep gold well-supported, reinforcing its dual role as both an adornment and a store of value.

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