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Silver prices in India trade near the upper range amid strong industrial demand and global bullion momentum. Check latest state-wise and city-wise silver rates per kilogram and MCX silver outlook.
Silver prices in India are trading at elevated levels, with MCX silver futures hovering in the upper range of recent trading bands amid strong industrial demand and global bullion momentum. Retail silver rates across major Indian states are largely fluctuating between ₹92,000 and ₹98,000 per kilogram, depending on regional premiums and local dealer margins. Live futures pricing can be tracked on MCX India, while broader commodity movements are available on Moneycontrol Commodities.
India’s silver pricing structure is closely linked to international spot markets, currency fluctuations, and industrial demand trends. As a major importer, domestic prices remain sensitive to rupee-dollar movements. Retail tracking across cities can be monitored via Good Returns Silver Rates and consolidated bullion platforms such as Gold Price India.
State-Wise Silver Prices in India (Per Kilogram)
The table below provides a structured state-level snapshot using representative capital or major city retail rates for silver.
| State / UT | Representative City | Silver Price (Per Kg) |
|---|---|---|
| Andhra Pradesh | Visakhapatnam | ₹95,000 |
| Arunachal Pradesh | Itanagar | ₹95,000 |
| Assam | Guwahati | ₹95,000 |
| Bihar | Patna | ₹94,500 |
| Chhattisgarh | Raipur | ₹95,000 |
| Goa | Panaji | ₹95,000 |
| Gujarat | Ahmedabad | ₹94,800 |
| Haryana | Chandigarh | ₹96,000 |
| Himachal Pradesh | Shimla | ₹96,000 |
| Jharkhand | Ranchi | ₹95,000 |
| Karnataka | Bengaluru | ₹95,000 |
| Kerala | Kochi | ₹95,000 |
| Madhya Pradesh | Bhopal | ₹95,000 |
| Maharashtra | Mumbai | ₹95,000 |
| Manipur | Imphal | ₹95,000 |
| Meghalaya | Shillong | ₹95,000 |
| Mizoram | Aizawl | ₹95,000 |
| Nagaland | Kohima | ₹95,000 |
| Odisha | Bhubaneswar | ₹95,000 |
| Punjab | Chandigarh | ₹96,000 |
| Rajasthan | Jaipur | ₹94,800 |
| Sikkim | Gangtok | ₹95,000 |
| Tamil Nadu | Chennai | ₹97,000 |
| Telangana | Hyderabad | ₹95,000 |
| Tripura | Agartala | ₹95,000 |
| Uttar Pradesh | Lucknow | ₹95,000 |
| Uttarakhand | Dehradun | ₹96,000 |
| West Bengal | Kolkata | ₹95,000 |
Final invoice values may vary based on purity, dealer spreads, and local logistics costs.
Major City Snapshot (Silver Per Kilogram)
| City | Silver Price |
|---|---|
| Delhi | ₹96,000 |
| Mumbai | ₹95,000 |
| Bengaluru | ₹95,000 |
| Chennai | ₹97,000 |
| Kolkata | ₹95,000 |
| Hyderabad | ₹95,000 |
| Ahmedabad | ₹94,800 |
| Pune | ₹95,000 |
| Jaipur | ₹94,800 |
| Kochi | ₹95,000 |
Key Drivers Behind the Silver Rally
Silver’s upward movement is supported by both investment demand and industrial usage.
Industrial Demand Strength
Unlike gold, silver has significant industrial applications in solar panels, electronics, electric vehicles, and semiconductor manufacturing. Expanding renewable energy capacity globally has strengthened demand fundamentals.
Global Monetary Policy and Safe-Haven Flows
Silver often tracks gold during periods of macroeconomic uncertainty. Expectations around US interest rate cycles and inflation data materially influence silver pricing.
Rupee-Dollar Volatility
As India imports a large portion of its silver requirements, currency movements amplify global price shifts domestically.
Renewable Energy Expansion
Silver demand in photovoltaic manufacturing continues to rise, reinforcing long-term structural demand trends.
Technical Outlook and Market Signals
MCX silver futures are currently holding near upper trading ranges, with immediate support levels observed around ₹90,000 per kilogram and resistance near ₹1,00,000. Traders are monitoring global inflation data, industrial production indicators, and commodity fund flows.
Investment Perspective
Silver offers both industrial growth exposure and defensive portfolio diversification. Investors may consider physical bullion, ETFs, or commodity exchange exposure under regulatory frameworks governed by the Reserve Bank of India and SEBI. Compared to gold, silver tends to exhibit higher volatility, making staggered allocation strategies prudent.
Conclusion
Silver prices in India remain firm, supported by global industrial expansion, renewable energy demand, and macroeconomic uncertainty. While short-term volatility may persist, long-term structural drivers remain constructive.
Investors should balance silver’s higher price swings with disciplined allocation, while consumers should compare dealer spreads and purity certifications before purchase.
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