Silver prices in Delhi are tracking the national average today, slipping ₹10 per gram from yesterday’s close. The dip follows a mild softening in global spot silver, with international prices easing alongside gold amid a firmer US dollar and reduced safe-haven buying. Here is a full breakdown of today’s silver rates in the capital.
Delhi Silver Rate Today — March 18, 2026
| Quantity | Today (₹) | Yesterday (₹) | Change |
|---|---|---|---|
| 1 gram | 265 | 275 | -10 |
| 10 grams | 2,650 | 2,750 | -100 |
| 100 grams | 26,500 | 27,500 | -1,000 |
| 1 kg | 2,65,000 | 2,75,000 | -10,000 |
Rates are retail averages for Delhi as of today. GST and making charges are not included and will be added at the point of purchase.
Delhi’s Silver Market — Chandni Chowk and Beyond
Delhi has one of the most active and historically rich silver markets in northern India. Chandni Chowk, the city’s centuries-old trading heart, remains the epicentre of Delhi’s silver trade — its narrow lanes are lined with wholesalers, retailers, and artisans dealing in everything from raw silver bars to intricately crafted silverware, religious items, and jewellery. Dariba Kalan, the famous jewellery street within Chandni Chowk, is where Delhi’s silver prices are made at the street level each day.
Delhi’s silver market serves not just the capital but a wide catchment area across northern India — UP, Haryana, Punjab, and Rajasthan all draw heavily from Delhi’s wholesale silver supply chain. This regional importance keeps trading volumes consistently high and prices closely anchored to the national MCX benchmark, which is why Delhi’s rates today are in line with the Mumbai baseline.
What Is Driving Silver Prices Today?
Silver has pulled back ₹10 per gram today, continuing a trend of mild softening after a period of elevated global precious metals prices. The key drivers working against silver today are a firmer US dollar, which makes dollar-denominated commodities more expensive for non-US buyers and dampens global demand, and some easing of the geopolitical risk premium that had been supporting safe-haven assets through recent weeks.
On the industrial demand side — which accounts for more than half of global silver consumption — sentiment remains broadly constructive. Silver’s critical role in solar panel manufacturing, EV battery systems, and semiconductor production ensures a structural floor under demand that distinguishes it from gold as an investment asset. Any pickup in global manufacturing activity or green energy investment tends to support silver prices independently of its precious metals status.
Silver in Delhi — What Are Buyers Purchasing?
Delhi’s silver buying is notably diverse compared to other cities. Wedding silverware — trays, utensils, decorative items, and gifting sets — is a major category, particularly in the run-up to the winter wedding season. Religious silver items including idols, pooja thalis, and temple offerings are bought year-round. Silver jewellery, while less dominant than gold jewellery in Delhi’s market, has a loyal buyer base particularly for traditional and antique-finish pieces.
On the investment side, Delhi’s growing base of retail investors is increasingly turning to silver coins, bars, and digital silver platforms as an alternative to physical jewellery — drawn by the lower per-unit cost relative to gold and the metal’s long-term demand story tied to the global energy transition.
Quick Buying Guide
For jewellery and silverware: Always verify purity with a trusted jeweller. Silver hallmarking is increasingly available in Delhi but not yet universally mandatory — ask for a purity certificate or BIS hallmark where available. Factor in making charges and 3% GST on your final bill. For investment: Silver coins and bars from certified sources carry minimal premium over spot and are the most liquid physical format. For real-time rates, check MCX.
Disclaimer: Rates are retail averages for Delhi as of March 18, 2026. Actual prices may vary by jeweller. Not financial advice.