Silver Prices Today Jan 31 2026: Silver prices in India appear to be stabilising after weeks of sharp fluctuations, as global developments start exerting greater influence on the metal. Having surged to record territory earlier this month, the white metal is now moving within a narrower range, signalling a pause in the recent rally.
January proved to be an exceptionally volatile month for silver. Prices surged sharply from the very beginning of the year, driven by heightened global uncertainty, a weakening US dollar and strong demand for safe-haven assets.
By the end of the month, silver had climbed close to historic highs. On the Multi Commodity Exchange (MCX), March futures were trading near Rs 3.95 lakh per kilogram, reflecting continued investor participation in the derivatives segment.
However, after the steep rise, momentum has cooled, with prices now moving sideways rather than extending the earlier rally.
What triggered the recent correction?
The pullback in silver prices has been influenced by a combination of global factors.
One key driver has been the strengthening of the US dollar. A firmer dollar typically weighs on precious metals, as it makes them more expensive for buyers using other currencies, thereby reducing international demand.
Silver has also mirrored weakness in gold, given the strong correlation between the two metals. As gold prices corrected from their highs, silver followed suit, amplifying the downward move.
In addition, market sentiment shifted after US President Donald Trump nominated Kevin Warsh as the next Chair of the Federal Reserve. The development introduced fresh uncertainty around the future path of US monetary policy, prompting investors to reassess their positions in bullion.
While the broader outlook for silver remains closely tied to global macro trends, currency movements and safe-haven demand, the metal is currently in a consolidation phase after January’s dramatic run-up.
Silver Price Across Major Cities In India On Jan 31
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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