Silver Prices Hit All-Time High — Spot Rates Rally Across Bengaluru, Delhi & Major Cities

January 7, 2026

New Delhi: Silver prices continued their strong rally on Wednesday, January 7, climbing to record levels as rising geopolitical tensions pushed investors towards safe-haven assets.

The white metal touched a fresh all-time high in the spot market, highlighting robust global demand. Meanwhile, silver futures on the Multi Commodity Exchange (MCX) remained largely steady with minor fluctuations, while domestic prices in India edged higher.

Why Silver Is Gaining Shine

The sharp rise in silver prices is being driven by a mix of factors — escalating global uncertainties, strong industrial demand, supply constraints, and increased investment interest. With gold becoming increasingly expensive, silver is emerging as a popular alternative for jewellery buyers as well as long-term investors.

Experts note that silver prices have surged nearly 180% so far in 2025, and demand is expected to remain strong in the coming years.

Silver Rates Rise Across Indian Cities

Silver prices in India jumped by nearly ₹10,000 per kilogram in a single day, according to GoodReturns data. On Wednesday, silver was priced at ₹263 per gram and ₹2,63,000 per kilogram at the national level.

Here’s how silver is priced across major cities:

• Chennai, Hyderabad, Kerala: ₹2,83,000 per kg
• Mumbai, Delhi, Bengaluru, Kolkata, Pune: ₹2,63,000 per kg

Retail buyers and investors closely track these city-wise prices, especially as silver continues to outperform many other assets.

MCX and Global Market Update

Silver futures on MCX with March expiry saw mild correction during the session. At around 1:23 pm, MCX silver was trading 1.41% lower at ₹2,55,162 per kilogram.

Internationally, silver prices slipped below $80 per ounce, ending a three-day winning streak, according to Trading Economics. However, on the Comex, March-expiry silver futures surged to a 52-week high of $82.548 per troy ounce earlier in the day.

Expert View: Volatility Ahead, But Outlook Positive

Commenting on the rally, Aksha Kamboj, Vice President of the India Bullion & Jewellers Association (IBJA), said silver’s upward momentum is supported by strong investment flows and optimistic industrial demand outlook.

“Silver is holding well above recent levels, keeping market sentiment positive. However, after such a sharp move, short-term volatility cannot be ruled out,” she added.