Friday, Jan 23, 2026: Silver prices in India moved higher today. Silver was priced at Rs 340 per gram and Rs 3,40,000 per kilogram, up from Rs 325 per gram and Rs 3,25,000 per kilogram in the previous session, as per the data shared.
Silver rate in India today: gram-wise and kg-wise
| Quantity | Today | Yesterday | Change |
|---|---|---|---|
| 1 gram | Rs 340 | Rs 325 | +Rs 15 |
| 8 grams | Rs 2,720 | Rs 2,600 | +Rs 120 |
| 10 grams | Rs 3,400 | Rs 3,250 | +Rs 150 |
| 100 grams | Rs 34,000 | Rs 32,500 | +Rs 1,500 |
| 1,000 grams (1 kg) | Rs 3,40,000 | Rs 3,25,000 | +Rs 15,000 |
Silver hits record highs globally; MCX futures also jump
Silver prices surged sharply on Friday, rising nearly 3% to trade close to $99 per ounce, as a combination of global macro factors and market positioning pushed the precious metal to fresh record highs. On the domestic market, silver futures on the Multi Commodity Exchange (MCX) were trading around Rs 3,35,943 per kg, up 2.6%, tracking strength in international prices.
What supported silver’s rally
The rally was primarily supported by a weaker US dollar, which boosted demand for precious metals. Market participants also shifted toward real assets amid concerns over changing US–Europe geopolitical dynamics, including Greenland-related tensions and fears that Europe could potentially leverage its large holdings of US assets.
Silver also gained support from expectations around US monetary policy. The US Federal Reserve is widely expected to keep interest rates unchanged at its upcoming meeting, supported by signs of resilience in the US economy. However, markets continue to price in two potential rate cuts later this year, which has kept bullion prices supported. Adding to sentiment, reports suggest that President Donald Trump is expected to announce the next US Federal Reserve Chair after completing interviews with candidates, with market participants factoring in the possibility of a more dovish appointment.
Beyond macro factors, silver’s rally has been intensified by a historic short squeeze, strong retail participation, and China’s tightening export controls, which have constrained supply and amplified upward price momentum.
Note: The above rates are indicative and may not include GST, TCS and other levies. Actual rates can vary by location and seller.
