Silver price in Delhi today:
- 10 grams: ₹3,950
- 100 grams: ₹39,500
- 1 kilogram: ₹3,95,000
Silver prices in Delhi eased sharply on Friday, January 30, as domestic rates corrected following weakness in global silver markets. Today’s decline reflects broader selling pressure after a historic rally, driven by profit booking, a firmer US dollar, and compression of India’s premium over international prices.
Why silver prices are down today
Global silver cools after record run-up
International silver prices retreated around 4% toward the $110 per ounce level on Friday after briefly trading near all-time highs earlier in the week. This pullback came as investors booked profits following a near-parabolic rally. Despite the correction, silver still remains up over 50% in January, its strongest monthly performance on record and extending gains for a ninth straight month.
Profit booking after extreme rally
Silver had surged aggressively across global and Indian markets, supported by safe-haven demand, supply tightness, and strong momentum buying. After such a steep rise, traders moved quickly to lock in gains, triggering selling pressure across both futures and spot markets — pulling down silver prices in Delhi as well.
Dollar rebound adds pressure
A modest rebound in the US dollar also weighed on precious metals. A firmer dollar typically exerts downward pressure on dollar-priced commodities like silver by making them more expensive for non-dollar buyers and encouraging short-term selling.
India premium unwinds
In recent sessions, MCX silver traded at a steep premium to global benchmarks. As international prices cooled, this elevated domestic premium began to compress, leading to a sharper correction in Indian markets, including Delhi, compared with overseas prices.
What Delhi buyers are seeing
Delhi’s silver prices today are lower compared with earlier in the week, reflecting broad market corrections rather than local demand changes. Rates may vary slightly between dealers due to taxes and margins, but the overall downtrend aligns with national and international silver price movements.
Disclaimer: Silver rates may differ slightly across jewellers in Delhi. The information provided is for price awareness and market context; not financial or investment advice.
