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Silver prices in India remained firm on 19 February 2026, with retail rates around ₹2,70,000 per kilogram across major cities and states. Domestic prices reflect global bullion trends, INR–USD movement, and local dealer premiums, while futures on MCX showed intraday volatility. Silver continues to attract investors due to its dual role as a precious metal hedge and industrial commodity, making it a closely tracked asset in 2026.
Silver prices in India remained firm on 19 February 2026, with indicative retail rates around ₹2,70,000 per kilogram across major cities. Domestic pricing reflects global silver trends, INR–USD movement, industrial demand, and bullion dealer premiums. Futures on MCX showed intraday volatility, while physical markets maintained elevated premiums. Investors tracking silver price today in India should monitor global spot movements and currency fluctuations for short-term direction.
| Unit | Indicative Retail Price | Change Bias | Market Type |
|---|---|---|---|
| 1 Kilogram | ₹2,70,000 | Stable–Firm | Physical |
| 100 Grams | ₹27,000 | Stable | Physical |
| 10 Grams | ₹2,700 | Stable | Physical |
| 1 Gram | ₹270 | Stable | Physical |
MCX Futures (Benchmark Reference): Silver futures traded lower than retail physical rates due to margin, settlement structure, and taxation differences on MCX.
| Component | MCX Futures | Retail Physical |
|---|---|---|
| Pricing Basis | Futures contract | Spot + Premium |
| Includes GST | No | Yes |
| Dealer Margin | No | Yes |
| Liquidity | High | Moderate |
| Settlement | Financial/Delivery | Physical |
This explains why silver price today in India per kg may appear higher in physical markets compared to futures.
| City | Price per Kg | Price per Gram | Demand Trend |
|---|---|---|---|
| Mumbai | ₹2,70,000 | ₹270 | Strong retail demand |
| Delhi | ₹2,70,000 | ₹270 | Stable |
| Bengaluru | ₹2,70,000 | ₹270 | Industrial demand steady |
| Chennai | ₹2,70,000 | ₹270 | Jewellery demand |
| Hyderabad | ₹2,70,000 | ₹270 | Balanced |
| Kolkata | ₹2,70,000 | ₹270 | Stable |
| Ahmedabad | ₹2,70,000 | ₹270 | Investor buying |
| Pune | ₹2,70,000 | ₹270 | Retail accumulation |
| Jaipur | ₹2,70,000 | ₹270 | Jewellery segment active |
| Lucknow | ₹2,70,000 | ₹270 | Stable |
| Kochi | ₹2,70,000 | ₹270 | Retail demand |
| Bhopal | ₹2,70,000 | ₹270 | Moderate |
| Patna | ₹2,70,000 | ₹270 | Gradual demand |
Silver rates remain broadly uniform across states due to centralized bullion pricing benchmarks.
| State | Silver Price (₹/Kg) |
|---|---|
| Maharashtra | ₹2,70,000 |
| Gujarat | ₹2,70,000 |
| Karnataka | ₹2,70,000 |
| Tamil Nadu | ₹2,70,000 |
| Telangana | ₹2,70,000 |
| West Bengal | ₹2,70,000 |
| Uttar Pradesh | ₹2,70,000 |
| Madhya Pradesh | ₹2,70,000 |
| Bihar | ₹2,70,000 |
| Rajasthan | ₹2,70,000 |
| Kerala | ₹2,70,000 |
| Andhra Pradesh | ₹2,70,000 |
| Odisha | ₹2,70,000 |
| Punjab | ₹2,70,000 |
| Haryana | ₹2,70,000 |
| Chhattisgarh | ₹2,70,000 |
| Jharkhand | ₹2,70,000 |
| Assam | ₹2,70,000 |
| Uttarakhand | ₹2,70,000 |
| Himachal Pradesh | ₹2,70,000 |
Minor district-level variations may apply.
| Asset | Volatility Level | Correlation to USD | Industrial Demand Impact |
|---|---|---|---|
| Silver | High | Strong | High |
| Gold | Moderate | Strong | Low |
| Platinum | Moderate | Moderate | Moderate |
Silver is historically more volatile than gold due to:
| Metric | Silver |
|---|---|
| Inflation Hedge | Yes |
| Liquidity | High (ETFs/Futures) |
| Long-Term CAGR (Cycle-based) | Moderate |
| Volatility | High |
| Industrial Exposure | Strong |
Silver offers a hybrid profile:
| Instrument | Risk Level | Liquidity | Best For |
|---|---|---|---|
| Physical Silver | Low–Moderate | Moderate | Long-term holding |
| Silver ETFs | Moderate | High | Portfolio allocation |
| Silver Futures (MCX) | High | Very High | Active traders |
| Digital Silver | Moderate | High | Retail investors |
Silver remains sensitive to macro triggers and currency fluctuations.
What is silver price today in India per kg?
Silver price today is approximately ₹2,70,000 per kilogram in major Indian cities.
What is silver price today per gram?
Silver is trading around ₹270 per gram in retail markets.
Why is silver more volatile than gold?
Silver has industrial usage and a smaller market size, leading to sharper price swings.
Is it good time to buy silver in India?
Investment decisions depend on risk tolerance and macro outlook. Silver can act as an inflation hedge but carries higher volatility.
Where to check live silver futures price?
Live silver futures can be tracked on the MCX platform.
Silver prices in India remain firm, reflecting global strength and domestic currency trends. While retail rates hover around ₹2,70,000 per kg, futures markets show intraday movement. Investors should monitor global cues, currency trends, and industrial demand cycles before making allocation decisions.
Silver continues to play a dual role as both a precious metal hedge and an industrial commodity, making it a dynamic asset in 2026.
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