Silver Rates Surge Across India Amid Global Price Hike
Silver prices are experiencing a notable surge in India, echoing the global market trends. Cities like Delhi, Mumbai, and Chennai are seeing rates between ₹244,900 and ₹255,100 per kilogram.
Highlights
- •Increased silver prices in key Indian cities
- •Silver rose by over 3% globally on COMEX
- •Global gold price hike of 1.36%
- •Domestic silver rates remain consistent for now
Across the country today—Tuesday—the festival of Mahavir Jayanti is being celebrated with great enthusiasm by followers of the Jain faith. Meanwhile, silver prices have witnessed significant volatility as global markets experience an increase in precious metals.
The latest update from India's bullion market reveals that 999-purity silver, a common variant, is selling at ₹244,900 per kilogram in several major cities on Tuesday. In New Delhi and the northern states, this rate remains consistent, though it varies slightly to ₹255,100 per kilogram in the southern regions like Mumbai, Chennai, and Hyderabad.
Regional Silver Price Trends
In key cities such as Ahmedabad, Kolkata, Jaipur, Bhopal, Lucknow, and Chandigarh, 999-purity silver is recorded at ₹244,900 to ₹255,100 per kilogram. This variation can be attributed to local supply-demand dynamics and logistics costs.
On the global front, silver surged by over 3% in recent days to trade in the range of $72–$73 per ounce on COMEX. Gold, despite a slight decline in India, rose by approximately 1.36% to be recorded at around $4,587 an ounce.
In the domestic market, such as on MCX, prices have not fully reflected these global trends yet. On Monday, gold closed slightly lower at ₹147,450 per 10 grams, while silver gained marginally to ₹244,900 per kilogram.
