Silver price in Ahmedabad today:
- 10 grams: ₹3,950
- 100 grams: ₹39,500
- 1 kilogram: ₹3,95,000
Silver prices in Ahmedabad declined sharply on Friday, January 30, tracking a broader correction in global silver markets after an extraordinary rally earlier in the week. The drop in local rates reflects widespread profit taking, a firmer US dollar, and the narrowing of India’s premium over international silver prices.
Why silver prices are down today
Global silver cools after record run-up
International silver prices retreated about 4% toward the $110 per ounce level on Friday after briefly trading near all-time highs earlier in the week. The pullback occurred as investors locked in profits following a near-parabolic rally. Despite the correction, silver is still up more than 50% in January, marking its strongest monthly performance on record and extending gains for a ninth straight month.
Profit booking after extreme rally
Silver had surged aggressively in both global and Indian markets, supported by safe-haven demand, tight supply, and strong momentum buying. After such steep gains, traders quickly moved to lock in profits, triggering broad selling across futures and spot markets — putting downward pressure on domestic prices, including in Ahmedabad.
Dollar rebound adds pressure
A modest rebound in the US dollar also weighed on precious metals. A firmer dollar typically pressures dollar-priced commodities like silver by making them more expensive for non-dollar buyers, encouraging short-term selling.
India premium unwinds
In recent sessions, MCX silver was trading at a steep premium to global prices. As international prices cooled, this elevated domestic premium began to compress, amplifying the downside move in India’s markets such as Ahmedabad compared with overseas benchmarks.
What Ahmedabad buyers are seeing
Silver rates in Ahmedabad today are lower compared with earlier in the week, mainly due to global profit booking and technical correction rather than changes in local demand. While exact quotes can vary slightly between jewellers due to taxes and dealer margins, the overall trend reflects widescale market weakness.
Disclaimer: Silver rates may vary slightly across jewellers in Ahmedabad. The information is for price awareness and market context; not financial or investment advice.
