Silver prices in India remained volatile on Friday, February 6, 2026, after sharp swings in global and domestic markets this week. The white metal has seen heavy corrections in recent sessions, making it a key focus for investors, jewellers, and industrial buyers.
The latest market data shows silver trading near ₹2,99,900 to ₹3,00,000 per kilogram across major cities, including Delhi and Mumbai. This comes after steep declines in recent days, as global market trends and profit booking impacted precious metals. For retail buyers, the sudden fall in prices may offer a short-term opportunity, especially ahead of wedding purchases and festive demand.
Silver Rates in Delhi and Mumbai on February 6, 2026
As of today, silver prices across major Indian metros are largely uniform, with only small differences due to local taxes and logistics.
Latest Silver Price Snapshot
| City | Silver Price (per gram) | Silver Price (per kg) |
|---|---|---|
| Delhi | ₹299–₹300 | ₹2,99,900–₹3,00,000 |
| Mumbai | ₹299–₹300 | ₹2,99,900–₹3,00,000 |
Note: Retail prices may vary slightly between jewellers due to making charges, GST, and local market factors.
Major Update: Silver Prices Drop After Recent Rally
Silver has experienced sharp volatility in the first week of February.
- The metal fell sharply in domestic markets during recent sessions.
- Some sessions saw large declines in the spot market.
- Earlier, silver had surged to high levels before the correction.
This sharp movement highlights how quickly precious metal prices can change in response to global cues.
Why Silver Prices Matter Today
Silver is widely used in India for jewellery, investment, and industrial purposes. Price changes directly affect:
- Jewellery buyers
- Silver coin investors
- Industrial demand from electronics and solar sectors
- Wedding and festive purchases
Because silver is more volatile than gold, even small global changes can cause large price swings in the domestic market.
What Caused the Latest Silver Price Drop
1) Weak Global Sentiment
International precious metal prices fell as investors booked profits after recent rallies.
2) Stronger US Dollar
A rising dollar made metals more expensive for buyers in other currencies, putting pressure on prices.
3) Reduced Safe-Haven Demand
As global markets stabilised slightly, some investors shifted away from safe-haven assets like silver.
Recent Price Trend: Big Swings in Just Days
The silver market has seen dramatic moves this week:
- Prices were much higher in early February.
- Then dropped sharply after corrections.
- Some markets even reported large one-day declines.
This highlights the high volatility in the silver market compared to gold.
City-Wise Silver Price Overview
Delhi
- Silver price: about ₹2,99,900–₹3,00,000 per kg
- Rates are lower than the early-February peak.
Mumbai
- Silver price: around ₹2,99,900 per kg
- Market trend remains volatile.
Across major cities, silver prices remain largely aligned due to national pricing benchmarks.
Short-Term Outlook for Silver
Analysts expect continued volatility in silver prices due to:
- Global economic uncertainty
- Interest rate expectations
- Currency fluctuations
- Industrial demand trends
This could keep prices unstable in the short term.
Should You Buy Silver Now?
For jewellery buyers:
- The recent fall may reduce purchase costs.
- Prices are lower than recent highs.
For investors:
- Silver is more volatile than gold.
- It can offer higher returns but also higher risk.
Experts often suggest gradual buying rather than lump-sum investments.
Key Factors That Affect Silver Prices in India
Several elements decide daily silver rates:
- International silver prices
- Rupee-dollar exchange rate
- Import duties and taxes
- Industrial demand
- Inflation trends
Because silver has strong industrial use, economic growth expectations can have a big impact on prices.
Important Buying Tips for Silver Buyers
Before buying silver:
- Check purity certification.
- Compare rates across jewellers.
- Ask for a proper bill.
- Consider making charges and GST.
Silver vs Gold: Which Is Better Right Now?
Silver
- Lower price per gram
- Higher volatility
- Strong industrial demand
Gold
- More stable
- Preferred for long-term investment
- Higher safe-haven demand
Many investors choose a mix of both metals for balance.
Bottom Line
Silver prices on February 6, 2026, are trading near ₹3 lakh per kilogram in Delhi and Mumbai, after sharp declines earlier in the week. With prices correcting from recent highs, the market may offer opportunities for gradual buying. However, volatility remains high, and investors are advised to track daily price movements closely.
Short-term direction will depend on global economic cues, currency movements, and investor sentiment in the precious metals market.
Financial Disclaimer: Markets and investment-related products are subject to risks and fluctuations. Readers should conduct their own research and consider consulting a qualified financial advisor before making any investment decisions.
Last Updated on: Friday, February 6, 2026 7:25 pm by Digital Herald Team | Published by: Digital Herald Team on Friday, February 6, 2026 7:25 pm | News Categories: Finance, Education