Silver prices in India witnessed a sharp decline on Wednesday, February 5, 2026, with rates dropping across all major weight categories. According to the latest market data, silver is priced at Rs 300 per gram, while the price of one kilogram of silver stands at Rs 3,00,000. This marks a notable fall compared to the previous trading session, reflecting weakness in global cues and domestic demand sentiment.
The fall in silver prices today has caught the attention of bullion traders, jewellers, and investors, especially as the metal had been trading at higher levels in recent sessions. Compared to yesterday’s rate of Rs 320 per gram, silver has declined by Rs 20 per gram, indicating a one-day drop of over 6 percent. On a per kilogram basis, silver has fallen by Rs 20,000 from Rs 3,20,000.
Silver price in India today: gram-wise rates
At the retail level, the price of silver today shows a uniform decline across different quantities. One gram of silver is priced at Rs 300, down from Rs 320 yesterday. Eight grams of silver, commonly used for jewellery purchases, is currently priced at Rs 2,400, compared to Rs 2,560 in the previous session. Similarly, ten grams of silver is available at Rs 3,000 today, reflecting a decline of Rs 200 from yesterday’s level of Rs 3,200.
For bulk buyers, the fall is even more pronounced in absolute terms. One hundred grams of silver is priced at Rs 30,000, down by Rs 2,000 from Rs 32,000, while one kilogram of silver is trading at Rs 3,00,000, marking a steep Rs 20,000 decline in a single day.
Today silver price per gram/kg in India (INR)
| Quantity | Today’s price | Yesterday’s price | Change |
|---|---|---|---|
| 1 gram | Rs 300 | Rs 320 | – Rs 20 |
| 8 grams | Rs 2,400 | Rs 2,560 | – Rs 160 |
| 10 grams | Rs 3,000 | Rs 3,200 | – Rs 200 |
| 100 grams | Rs 30,000 | Rs 32,000 | – Rs 2,000 |
| 1 kg | Rs 3,00,000 | Rs 3,20,000 | – Rs 20,000 |
Why silver prices change daily in India
Silver prices in India are influenced by a combination of global and domestic factors. International silver rates play a key role, as India imports a significant portion of its silver requirement. Any movement in global commodity markets, particularly on major exchanges, tends to reflect quickly in domestic prices.
Apart from international prices, the rupee-dollar exchange rate also impacts silver prices. A weaker rupee makes imports costlier, while a stronger rupee can exert downward pressure on prices. In addition, local demand from the jewellery industry, industrial users, and investors affects daily pricing trends.
Taxation, import duties, and logistics costs further add to price fluctuations across cities. As a result, silver rates can vary slightly depending on location and local market conditions, even though the broad trend remains uniform nationwide.
Silver prices came under heavy pressure in global markets, which directly impacted domestic rates in India. Internationally, silver fell as much as 8.5% to around $80 per ounce on Thursday, snapping a brief two-day rebound as precious metals faced renewed selling pressure and heightened volatility.
Despite expectations that dip buyers might step in at lower levels, the decline in silver and other precious metals appears set to continue after the recent rebound failed to sustain. Market participants noted that the selling intensified alongside a stronger US dollar, driven by hawkish signals from the US Federal Reserve and growing expectations that the pace of US interest rate cuts could be slower than previously anticipated.
Investor sentiment was also influenced by discussions around Kevin Warsh’s nomination as the next Federal Reserve chair. Warsh is known for his preference for a smaller Federal Reserve balance sheet and is widely seen as being less supportive of aggressive rate reductions, which added to pressure on non-yielding assets such as silver.
Additionally, geopolitical tensions eased modestly after the United States and Iran agreed to hold a fresh round of talks on Friday. While the scope of discussions remains uncertain, easing geopolitical risk reduced safe-haven demand for precious metals. Tehran has indicated it wants talks limited to its nuclear program, whereas Washington aims to include ballistic missiles, regional militant support, and human rights issues, adding another layer of complexity to market expectations.
These combined global factors weighed on silver prices, leading to the sharp decline reflected in Indian bullion markets today.