Silver Prices Today Feb 1 2026: Silver prices in India are showing signs of stability after several weeks of sharp movement, even as the broader market was shaken by developments around Budget 2026. After reaching record levels earlier this month, the white metal is now trading within a limited range, indicating a pause in the recent uptrend.
February turned out to be a highly volatile period for silver. Prices moved sharply higher from the start of the year, supported by global uncertainty, a softer US dollar, and strong demand for safe-haven assets.
Towards the end of the month, silver prices were hovering close to all-time highs. On the Multi Commodity Exchange (MCX), March futures were quoted around Rs 3.95 lakh per kilogram, highlighting continued interest from traders in the futures market.
Following the sharp rally, price action has eased, with silver now trading sideways instead of extending earlier gains.
What triggered the recent correction?
The recent moderation in silver prices has been driven by a mix of global developments.
One major factor has been the strengthening of the US dollar. A stronger dollar usually puts pressure on precious metals, as it raises costs for buyers using other currencies and affects overseas demand.
Silver has also moved in line with gold, due to the strong relationship between the two metals. As gold prices cooled from recent highs, silver mirrored the trend.
Market sentiment also shifted after US President Donald Trump nominated Kevin Warsh as the next Chair of the Federal Reserve. This development led investors to reassess expectations around future US monetary policy, prompting a review of positions in bullion.
While silver’s broader outlook continues to depend on global economic trends, currency movements, and safe-haven demand, the metal is currently moving through a consolidation phase following February’s strong rally.
Silver Price Across Major Cities In India On Feb 1
Silver Price In Delhi Today
The current silver price in Delhi stands at Rs 350 per gram and Rs 350,000 per kg.
Silver Price In Chennai Today
The current silver price in Chennai stands at Rs 350 per gram and Rs 350,000 per kg.
Silver Price In Bengaluru Today
The current silver price in Bengaluru stands at Rs 350 per gram and Rs 350,000 per kg.
Silver Price In Mumbai Today
The current silver price in Mumbai stands at Rs 350 per gram and Rs 350,000 per kg.
Silver Price In Pune Today
The current silver price in Pune stands at Rs 350 per gram and Rs 350,000 per kg.
Silver Price In Kolkata Today
The current silver price in Kolkata stands at Rs 350 per gram and Rs 350,000 per kg.
Silver Price Today in Major Indian Cities
| City | Per Gram | Per KG |
| Silver Rate in Hyderabad | 350 | 350,000 |
| Silver Rate in Ahmedabad | 350 | 350,000 |
| Silver Rate in Indore | 350 | 350,000 |
| Silver Rate in Lucknow | 350 | 350,000 |
| Silver Rate in Coimbatore | 350 | 350,000 |
| Silver Rate in Bhubaneswar | 350 | 350,000 |
| Silver Rate in Mysore | 350 | 350,000 |
| Silver Rate in Kanpur | 350 | 350,000 |
| Silver Rate in Salem | 350 | 350,000 |
| Silver Rate in Visakhapatnam | 350 | 350,000 |
| Silver Rate in Vijayawada | 350 | 350,000 |
| Silver Rate in Patna | 350 | 350,000 |
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