Silver Rates In India Today Fall To Rs 2.60 Lakh As Spot Silver Hits 1-Month Low: Silver Prices City-Wise

Silver rates in India dropped sharply by Rs 5,000 on March 19, to hit Rs 2.60 lakh per 1Kg mark. This is the second consecutive decline this week. Following the back-to-back selling pressure, silver has plunged nearly 12% and underperformed gold in March 2026 so far. The latest bearish trend follows the performance of weak global cues such as spot silver which is currently down by 6% and struggling to hold around $71 per ounce. Also, MCX silver has nosedived by Rs 15,300 and erased Rs 2.30 lakh mark.

Why Silver Prices Crashed Today?

The biggest reason for the crash is the hawkish remarks of US Federal Reserve in the latest monetary policy. This pushed dollar higher to above 100 mark and weighed heavily on precious metals.

US Fed kept federal fund rates unchanged to 3.25% to 3.75% in March policy, and further flagged upside risk to inflation due to the Middle East war between US, Israel and Iran.

The FOMC committee led by chair Jerome Powell also hinted at no rate cuts until inflation shows signs of cooling. However, they do predict one rate cut possibility in later 2026. But market analysts believe rate cut could be delayed to 2027 as well.

Data on Wednesday also showed US producer prices rose more than expected in February. Meanwhile, oil prices climbed again, with Brent futures exceeding $110 a barrel following fresh attacks on energy infrastructure in the Middle East. Iran launched missile strikes on a Qatari facility housing the world's largest LNG export plant, one of several targets Tehran vowed to hit after an Israeli strike on Iran's South Pars gas field, as per Trading Economics.

Silver Rates In India:

1Kg silver price fell by Rs 5,000 in India to Rs 2.60 lakh mark. Meanwhile, 100 grams and 10 grams silver plunged by Rs 500 and Rs 50 to Rs 26,000 and Rs 2,600 mark. Additionally, 8 grams silver is down by Rs 40 to Rs 2,080 and 1 gram silver dropped by Rs 5 to Rs 260.

Silver Rates City-Wise:

City	10 gram	100 gram	1 Kg
Chennai	₹2,650	₹26,500	₹2,65,000
Mumbai	₹2,600	₹26,000	₹2,60,000
Delhi	₹2,600	₹26,000	₹2,60,000
Kolkata	₹2,600	₹26,000	₹2,60,000
Bangalore	₹2,600	₹26,000	₹2,60,000
Hyderabad	₹2,650	₹26,500	₹2,65,000
Kerala	₹2,650	₹26,500	₹2,65,000
Pune	₹2,600	₹26,000	₹2,60,000
Vadodara	₹2,600	₹26,000	₹2,60,000
Ahmedabad	₹2,600	₹26,000	₹2,60,000

MCX Silver Price + Spot Silver Price

After market hours of March 19th, MCX silver price plunged by RS 16,534 or 6.7% to end at Rs 2,31,660 per 1Kg. This silver hit an intraday low of rs 2,29,234 per 1Kg during the trading session.

Meanwhile, spot silver crashed by nearly 6% to trade around $71 per ounce, which is at its one-month low. This precious metal is down by 8.2% in one month.

According to Gaurav Garg, Research Analyst at Lemonn Markets Desk, the declines come amid a backdrop of rising inflation concerns in the U.S., which have been exacerbated by geopolitical tensions stemming from the ongoing conflict between the U.S. and Iran, leading to fears of oil supply disruptions that could further fuel inflation.

He also said, despite international gold prices seeing some resistance below the $5,000 mark, the hawkish stance of the U.S. Federal Reserve has kept the upside capped. Crude oil prices also dipped slightly, trading at $96.12 per barrel (approximately ₹8,970), as market participants weigh the implications of escalating tensions on energy supplies.

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