Silver Rate In India Fall For 2nd Day In Row, 1Kg Silver At Rs 2.8 Lakh In Chennai, Hyderabad; Silver Outlook

Silver rates in India continued to be under pressure for second day in a row, despite international spot silver price gaining momentum. MCX silver ended at below Rs 2.4 lakh with over 2% decline, although it did recover some early losses. Meanwhile, 1Kg silver price touched Rs 2.75 lakh in majority of metro cities like Mumbai, Bengaluru and Kolkata among others. Silver stood expensive at Rs 2.80 lakh in top cities like Chennai, Hyderabad and Kerala.

At MCX, silver is down by over 45% from its peak above Rs 4.20 lakh. While physical silver has crashed over 21% in February alone and is down by 33% from its all-time high levels of Rs 4.10 lakh.

One of the key reason behind decline in silver prices is the risk-off sentiment in global markets for safe haven assets like gold, silver and even cryptocurrency. All these assets are trading under pressure despite heightened geopolitical risks globally.

The outlook for silver rates is still bullish for the long-term.

Silver Rates In India:

1Kg silver price dropped by Rs 25,000 to Rs 2,75,000, while 100 grams and 10 grams silver declined by Rs 2,500 and Rs 250 to Rs 27,500 and Rs 2,750 respectively. Further, 8 grams silver is at Rs 2,200, down by Rs 200. The cheapest silver is of Rs 275 per 1 gram, which is down by Rs 25.

Silver Rates In Top Cities:

Silver price in Chennai, Hyderabad and Kerala is expensive than compared to other cities. Here, 1Kg silver is at Rs 2.80 lakh, while 100 grams and 10 grams silver stood at Rs 28,000 and Rs 2,800.

On the other hand, silver rate in cities like Bengaluru, Delhi, Mumbai, Kolkata, and Pune among others, stood at Rs 2.75 lakh per 1Kg.

In February alone, silver has crashed by 21% to 22%. This is a performance of just six days.

MCX Silver Price:

MCX silver with March 2026 expiry, ended at Rs 2,40,537 per 1Kg, down by Rs 3,278 or 1.34% after hitting an intraday low of Rs 2,29,187 per 1Kg.

This silver future is down by over 45.4% from its peak of Rs 4,20,048 per 1Kg which was recorded last week.

Spot Silver Price:

Silver prices in India dropped despite spot silver rising by over 3% and trading above $73 per ounce level. This performance comes after decline of 10% in the previous session.

As per Trading Economics, price swings in the metal have been far more extreme than in gold, reflecting silver's smaller market size, thinner liquidity, and heavy speculative positioning. Still, silver is on track for a second consecutive weekly decline and remains about 40% below its Jan. 29 peak. Silver and other precious metals had rallied to record highs in January on heightened geopolitical risks, economic uncertainty, and concerns over the US Federal Reserve's independence that boosted safe-haven demand. Speculative buying, particularly from Chinese traders, added froth to the rally, leaving prices vulnerable to a sharp reversal as sentiment turned. Pressure on precious metals intensified further after a sharp rebound in the dollar following the nomination of Kevin Warsh as the next Fed chair, widely seen as the more hawkish choice.

Silver Prices Prediction:

As per Ponmudi R, CEO of Enrich Money, following are the silver rates outlook for both global and domestic level.

COMEX Silver Price Outlook:

COMEX Silver is trading in the $65-$80 zone after a sharp correction from record highs above $121. While the long-term bullish structure remains intact, prices are currently below key moving averages, indicating short-term bearish pressure and an extended corrective phase.

Strong buying interest is visible near $65-$70, a critical long-term demand zone. A sustained recovery and close above $85-$92 would be needed to revive upside momentum toward $95-$105, with the medium- to long-term outlook remaining constructive on steady industrial demand and structural supply constraints.

Spot Silver Price Outlook:

MCX Silver futures are trading near Rs2,30,000-Rs2,50,000 after correcting sharply from record highs around Rs4,20,000. Despite the steep pullback, the long-term bullish structure remains intact. The Rs2,25,000-Rs2,60,000 zone continues to act as a strong demand base. A sustained recovery from this area could open upside toward Rs3,00,000-Rs3,25,000 in the coming periods. Dips toward support remain accumulation-friendly for positional traders, while a decisive breakdown could extend the corrective phase.

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