
Silver price today: Silver price today surged by nearly 4% on the MCX to touch a high of ₹2,32,106 per kilogram, as speculative momentum and thinning year-end liquidity powered the precious metal while investors also priced in more US rate cuts and rising geopolitical tensions.
Silver price today touched a record high on the MCX at ₹2,32,200 at around 9:10 am, fuelling yesterday's rally.
Internationally, spot silver jumped 3.6% to $74.56 per ounce, after touching an all-time high of $75.14.
Silver soared 158% year-to-date, outpacing gold's nearly 72% gain, on structural deficits. Silver soared 158% year-to-date, outpacing gold's nearly 72% gain, on structural deficits.
Silver is also witnessing strong industrial demand, especially from the sunrise sectors such as electric vehicles (EV), solar, semiconductors, and data centres.
While demand is high, silver supply remains tight, creating an environment of scarcity-driven prices. According to the Silver Institute’s latest report, the silver market is witnessing multi-year deficits.
While it is true that silver is witnessing heightened demand amid tight supply, experts also see the FOMO (fear of missing out) factor at play.
Rate cuts by the US Federal Reserve and expectations of further rate reductions are driving a rally in non-yielding assets like gold and silver.
Here is a look at silver prices in Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad and Ahmedabad.
Silver rate today in Delhi was ₹2,31,850 per kg, up by 3.98% from the previous close.
Silver price today in Mumbai was standing at ₹2,32,250 per kilogram, an increase of 3.98% from the previous close on the bullion.
Silver rate today in Chennai also rose. According to the bullions, silver price in Chennai today was standing at ₹2,33,010 a kilogram. This was a rise of over 4%.
Silver rate today in Kolkata was ₹2,32,050 per kg, which is a rise of over 4% than the previous closing price.
Silver rate today in Bangalore also rose. According to the bullions, silver price in Chennai today was standing at ₹2,32,820 a kilogram. This was a rise of over 4.1%.
Silver price today in Hyderabad was standing at ₹2,33,010 per kilogram, an increase of over 4% from the previous close on the bullion.
Silver rate today in Ahmedabad also increased. According to the bullions, silver price in Chennai today was standing at ₹2,32,950 per kilogram. This was a jump of over 4.1%.
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