Silver price today in India has surged to historic highs, grabbing attention from investors, traders, industrial buyers, and retail households alike. As of January 29, 2026, silver price today stands at ₹380.10 per gram, ₹3,801 per 10 grams, and ₹3,80,100 per kilogram, marking one of the sharpest monthly rallies ever seen in the Indian precious metals market.
This article breaks down what happened, why silver price is increasing, expert views, future outlook, risks, and whether silver price will increase further in 2026—with data-backed insights and investor-grade clarity.
What Happened: Silver Price Today Breaks Records
Silver price today in India crossed ₹3.8 lakh per kg, driven by a perfect storm of global demand, supply constraints, and currency dynamics.
Latest Silver Price Today in India (99.9% Purity)
| City | 1 Gram (₹) | 10 Gram (₹) | 1 Kg (₹) |
|---|---|---|---|
| Mumbai | 380.10 | 3,801 | 3,80,100 |
| Delhi | 380.10 | 3,801 | 3,80,100 |
| Kolkata | 380.10 | 3,801 | 3,80,100 |
| Chennai | 400.10 | 4,001 | 4,00,100 |
| Hyderabad | 400.10 | 4,001 | 4,00,100 |
| Patna (Bihar) | 382 | 3,820 | 3,82,000 |
These silver price today figures reflect 999.9 purity bullion rates, excluding making charges, GST, or dealer premiums.
Key Details at a Glance (Investor Snapshot)
- Silver price today (India): ₹380.10 per gram
- 10 gram silver price: ₹3,801
- Silver price today 1 kg: ₹3,80,100
- January 2026 gain: ~60%
- YTD 2026 return: ~73%
- Global silver spot: ~$118.20 per ounce
- USD-INR impact: ₹86 per dollar
- India import duty + taxes: ~12.5% duty + 3% GST
Why It Matters: Silver Is No Longer “Cheap Gold”
The surge in silver price today is not speculative noise—it reflects a structural repricing of silver globally.
Historically, silver was treated as gold’s lower-value cousin. Today, it is increasingly seen as:
- A critical industrial metal
- A hedge against inflation and currency debasement
- A green-energy commodity
- A portfolio diversifier with asymmetric upside
For Indian investors, the current silver price today reshapes decisions across physical bullion, ETFs, futures, and long-term wealth allocation.
Market Perspective: Silver Price in India vs Global Markets
Globally, silver is trading near $118–120 per ounce, while Indian prices appear higher due to:
- Import duties (12.5%)
- GST (3%)
- Rupee depreciation
- Logistics and regional premiums
Why Silver Price in India Is Rising Faster Than Global Rates
- INR weakened from ₹83/USD to ₹86/USD
- India imports ~3,000 tonnes of silver annually
- Rising domestic demand during wedding and festive cycles
- Bullion dealers pricing in future supply risks
MCX silver futures closely mirror spot prices, with January expiry settling near ₹3,78,500 per kg, validating the spot rally.
Why Silver Price Is Increasing: The Real Drivers
1. Industrial Demand Explosion
Silver is now indispensable in:
- Solar panels (20% of global silver demand, +15% YoY)
- Electric vehicles (25 grams per vehicle)
- Electronics, AI chips, and semiconductors
- Medical and antimicrobial applications
Over 50% of global silver demand is industrial, unlike gold.
2. Structural Supply Deficit
- Global mine output fell to ~800 million ounces
- Recycling supplies only ~20% of demand
- Mexico and Peru face declining ore grades
- 2026 forecast deficit: ~215 million ounces
Demand (830M oz) > Supply (615M oz) = sustained price pressure.
3. Macro & Geopolitical Factors
- Inflation: India ~5.5%, US ~3.2%
- Global conflicts increasing safe-haven demand
- Silver officially classified as a critical mineral
- Central banks and sovereign stockpiling
4. Currency & Policy Impact
- Weaker rupee magnifies global price moves
- US monetary uncertainty boosts metals
- China reportedly hoarding ~500 tonnes per month
All these explain why silver price is increasing sharply and sustainably.
Expert View: What Analysts Are Saying
- ICICI Direct: ₹5,00,000 per kg possible in 2026
- Global banks: $150–175 per ounce base case
- Bull scenario: $200/oz by 2027 if EV + solar demand triples
- Silver-gold ratio: At ~95, still historically undervalued
Experts agree: silver is in a secular bull cycle, not a short-term spike.
Will Silver Price Increase Further in 2026?
Short Answer: Yes, with volatility
Bull Case
- Green energy demand surges
- Supply deficits widen
- ETF inflows accelerate
- Silver price today 1 kg targets ₹4.5–5.5 lakh
Base Case
- Stable industrial demand
- Gradual monetary easing
- Prices consolidate near ₹4–4.5 lakh
Risk Case
- Global recession cuts industrial use
- Aggressive rate hikes strengthen USD
Even in risk scenarios, downside appears limited due to structural shortages.
Investment Strategies for Rising Silver Prices
Physical Silver
- Buy 10 gram silver price coins for liquidity
- 1 kg bars for long-term storage
- Expect 8–12% spreads
Digital & ETFs
- Track silver price today closely
- Lower storage risk
- ~0.5% annual expense ratio
Futures (MCX)
- High leverage
- Suitable for experienced traders only
Portfolio Allocation
- Ideal exposure: 5–10%
- Complements gold in ratio trading
Challenges & Risks to Watch
- High volatility
- Government import policy changes
- Industrial demand sensitivity to global slowdown
- Short-term profit booking after sharp rallies
Silver rewards patience—but punishes leverage misuse.
FAQs: Silver Price Today
What is silver price today in India?
Silver price today is around ₹380.10 per gram and ₹3,80,100 per kg.
What is 10 gram silver price today?
The 10 gram silver price today is approximately ₹3,801.
Why is silver price increasing so fast?
Due to industrial demand, supply deficits, inflation hedging, and rupee depreciation.
Will silver price increase in future?
Most analysts expect silver prices to rise further in 2026 with volatility.
Is silver better than gold now?
Silver offers higher upside but higher volatility; gold offers stability.
Conclusion: Silver’s New Role in Indian Wealth Creation
Silver price today reflects more than a market rally—it signals a fundamental revaluation of silver’s role in the global economy and Indian portfolios. From solar energy to safe-haven demand, silver is no longer an afterthought.
For investors asking “will silver price increase”, the evidence suggests that silver’s story is just getting started—with India firmly at the center of this global shift.
Sources:-
https://www.silverinstitute.org
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