Silver prices in India witnessed a sharp decline on Thursday, January 30, tracking a steep correction in global silver markets and profit booking after recent record highs. As per the latest data, silver is priced at Rs 395 per gram and Rs 3,95,000 per kilogram, marking a significant drop from the previous session.
On a day-on-day basis, silver prices fell by Rs 15 per gram and Rs 15,000 per kg, reflecting the sharp pullback seen in international prices as investors locked in gains after an exceptional rally earlier this month.
Latest silver prices in India today (January 30)
Silver prices across key denominations are as follows. Silver is trading at Rs 395 for 1 gram, down from Rs 410 yesterday. The price of 10 grams of silver stands at Rs 3,950, compared with Rs 4,100 in the previous session. 100 grams of silver is priced at Rs 39,500, lower than yesterday’s Rs 41,000, while 1 kilogram of silver is trading at Rs 3,95,000, down sharply from Rs 4,10,000.
Why silver prices are down today
The decline in domestic silver prices mirrors weakness in global markets. International silver prices fell sharply after hovering near record highs earlier this week, as traders booked profits following a near-parabolic rally. Despite today’s correction, silver remains up sharply on a monthly basis, having gained over 50% in January, marking one of its strongest monthly performances on record.
A rebound in the US dollar also added pressure on silver prices. A stronger dollar typically weighs on precious metals by making them more expensive for non-dollar buyers. Additionally, the elevated premium at which Indian silver was trading compared with global benchmarks began to compress as international prices cooled, leading to a sharper correction in domestic prices.
Silver prices have remained highly volatile in recent sessions amid shifting global risk sentiment, movements in the dollar, and profit booking after strong gains. While today’s fall reflects short-term adjustments, market participants continue to track global macro developments and precious metal trends closely.
Silver prices in India vary slightly across cities due to local taxes, transport costs, and dealer margins. Buyers are advised to check city-specific rates before making purchases.
Disclaimer: Silver prices are indicative and may vary by city and jeweller. The information provided is for informational purposes only and should not be considered financial or investment advice.
