Silver Rates Fall First Time This Week; But Silver Prices In Chennai, Hyderabad At Rs 3 Lakh; Silver Outlook

Silver rates in India saw its first pullback this week on February 10, 2026. 1Kg silver price dropped by Rs 10,000 on Tuesday, erasing Rs 3 lakh mark in majority of metro cities like Mumbai, Delhi, Bengaluru, Kolkata, and Ahmedabad among others. But that was not the case with silver rates in cities like Chennai, Hyderabad and Kerala, where 1Kg silver is still at Rs 3 lakh mark. In India and globally, silver has halted its two-consecutive days winning streak. The outlook is volatile.

Silver Rates In India:

1Kg silver is down by Rs 10,000 on February 10th, to Rs 2.90 lakh. The price of 100 grams and 10 grams silver also dropped by Rs 1,000 and Rs 100 to Rs 29,000 and Rs 2,900. The 8 grams silver inched lower by Rs 80 to Rs 2,320. Further, 1 gram silver is priced at Rs 290, down by Rs 10.

Rs 2.90 lakh silver rates were in cities like Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara and Ahmedabad.

But silver prices still maintained Rs 3 lakh mark in three south cities.

City	10 Gram (₹)	100 Gram (₹)	1 Kg (₹)
Chennai	3,000	30,000	3,00,000
Mumbai	2,900	29,000	2,90,000
Delhi	2,900	29,000	2,90,000
Kolkata	2,900	29,000	2,90,000
Bangalore	2,900	29,000	2,90,000
Hyderabad	3,000	30,000	3,00,000
Kerala	3,000	30,000	3,00,000
Pune	2,900	29,000	2,90,000
Vadodara	2,900	29,000	2,90,000
Ahmedabad	2,900	29,000	2,90,000

MCX Silver Price + Spot Silver Price

In the market, MCX silver futures with March 2026 expiry, dropped by 2% to hit an intraday low of Rs 2,59,997 per 1Kg. At the time of writing, MCX silver is down by Rs 4,020 or 1.53% to trade at Rs 2,58,600 per 1Kg. Accordingly, they have recovered some early losses.

Meanwhile, spot silver is down by 2% to trade around $82.3 per ounce, halting its 2-days winning streak as investors booked profits. There is volatility in silver prices since it clocked new all-time of $121.64 per ounce on January 29, 2026.

As per Trading Economics, the white metal also remains down about 33% from its all-time high reached on Jan. 29 right before a selloff that wiped out nearly 50% of its value. US Treasury Secretary Scott Bessent attributed the extreme swings in the metals market to Chinese traders, describing the recent rally as a speculative blowoff. Investors are now turning their attention to the delayed US jobs and inflation reports due this week for guidance on the Federal Reserve's policy path. The central bank is widely expected to keep interest rates steady in March, with two rate cuts priced in for later in the year. Other precious metals, including gold, platinum and palladium, also slipped on Tuesday.

Silver Prices Prediction In India:

As per Ponmudi R, CEO of Enrich Money, following are the outlook for silver prices in India and globally.

COMEX Silver Price Outlook

COMEX Silver is trading near the $78-$83 zone after a sharp correction from record highs above $121. While the broader bullish structure remains intact on higher timeframes, the steep pullback has pushed prices below key moving averages, indicating short-term bearish pressure and an extended corrective phase. Strong buying interest is visible in the $65-$70 support band, aligned with prior swing lows and long-term trend support.

A sustained hold above this base, followed by a recovery and close above $85-$92, could revive upside momentum toward $95-$105 and potentially retest previous highs. The medium- to long-term outlook remains constructive, supported by steady industrial demand and structural supply constraints, despite elevated volatility.

MCX Silver Price Outlook:

MCX Silver futures are trading near the Rs2,50,000-Rs2,70,000 zone after a sharp correction from record highs around Rs4,20,000. While the long-term bullish structure remains intact, the steep pullback has pushed prices below major moving averages, indicating short-term bearish pressure and an ongoing corrective phase. Strong buying interest is evident in the Rs2,25,000-Rs2,60,000 support band, aligned with prior swing lows and longer-term structural support.

A sustained hold above this base, followed by a decisive recovery, could revive upward momentum toward Rs3,00,000-Rs3,25,000. Dips toward support continue to offer accumulation opportunities for positional traders, though a decisive break below these levels could accelerate downside pressure and extend the correction.

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