Silver prices in Delhi moved lower on Wednesday, February 5, in line with the sharp correction seen in global bullion markets. As per the latest data, silver is trading at Rs 3,000 per 10 grams in the national capital, 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 Delhi.
The decline in Delhi silver prices reflects the broader nationwide trend, with domestic rates tracking a steep fall in international silver prices. Compared to the previous trading session, silver prices have dropped across all weight categories, highlighting increased volatility in the precious metals market.
Market participants in Delhi indicated that local demand conditions remained steady, and the price movement was largely driven by global factors rather than city-specific developments. International silver prices came under heavy 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, putting additional pressure on silver prices. Given India’s dependence on silver imports, such global cues tend to have a direct impact on domestic bullion rates, including in Delhi.
With silver prices remaining volatile, traders and buyers in Delhi are closely watching global market developments and currency movements for further cues.
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