Silver prices in Bengaluru declined sharply on Wednesday, February 5, in line with the broader correction seen in global bullion markets. As per the latest rates, silver is trading at Rs 3,000 per 10 grams in the city, while 100 grams of silver is priced at Rs 30,000. The rate for one kilogram of silver stands at Rs 3,00,000 in Bengaluru.
The fall in Bengaluru silver prices reflects the nationwide trend, with domestic rates tracking the steep decline in international silver prices. Compared to the previous trading session, silver has dropped across all weight categories, highlighting increased volatility in the precious metals market.
Local bullion traders indicated that demand conditions in Bengaluru remained steady, and the price movement was driven mainly by global cues rather than city-specific factors. International silver prices came under selling pressure after failing to sustain a brief rebound, leading to sharp losses that were quickly mirrored in domestic markets.
Globally, a stronger US dollar, hawkish signals from the US Federal Reserve, and easing geopolitical tensions reduced safe-haven demand for precious metals, weighing on silver prices. Given India’s dependence on silver imports, such global developments tend to reflect swiftly in domestic bullion rates, including in Bengaluru.
With silver prices remaining volatile, market participants in Bengaluru are closely tracking global developments and currency movements for further direction.
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