As of January 15, 2026, silver prices in India have reached historic new heights, continuing an extraordinary bull run that has seen the metal outperform almost every other asset class since the start of the year. According to the latest data from GoodReturns, silver has surged by ₹5,000 per kilogram today, bringing the price to ₹2,95,000 in major cities and crossing the ₹3,10,000 mark in southern markets.
Current Silver Rates in India (January 15, 2026)
The rally today has pushed silver to the doorstep of a massive psychological milestone: the ₹3 lakh mark.1
| Unit | Price (INR) | Change from Yesterday |
| 1 Gram | ₹295 | ↑ ₹5 |
| 10 Grams | ₹2,950 | ↑ ₹50 |
| 100 Grams | ₹29,500 | ↑ ₹500 |
| 1 Kilogram | ₹2,95,000 | ↑ ₹5,000 |
City-Wise Breakdown: The South Leads the Surge
While the national average is climbing, regional variations are stark. Due to higher local demand and different tax structures, cities in South India are currently seeing the highest prices in the country.
- Chennai & Hyderabad: ₹3,10,000 per kg (Up ₹3,000)2
- Kerala: ₹3,10,000 per kg3
- Delhi, Mumbai & Kolkata: ₹2,95,000 per kg (Up ₹5,000)4
- Bangalore: ₹2,95,000 per kg (Up ₹5,000)5
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The “Sankranti” Effect and Market Volatility
The current price hike coincides with the Makar Sankranti and Pongal festivities, a period traditionally associated with the purchase of precious metals in India. This seasonal demand has added fuel to an already overheated market.
Interestingly, silver is showing a “decoupling” trend from gold today. While domestic gold prices saw a minor dip of approximately ₹820 per 10 grams due to a stronger US Dollar, silver remained resilient, gaining value on the back of industrial supply concerns.
Why Is Silver Unstoppable in 2026?
The climb from ₹2,38,000 on January 1st to nearly ₹3,00,000 today represents a staggering 24% gain in just 15 days. Analysts point to several unique factors:
- US Political & Economic Shifts: Recent legal and tariff decisions in the US have increased market uncertainty, prompting global investors to hedge their wealth in silver.
- The $100 Target: In international markets, spot silver is approaching the $90–$94 per ounce range. Analysts are now openly discussing the possibility of silver hitting $100/oz globally, which would likely push Indian rates well past ₹3.5 lakh.
- Industrial Scarcity: Beyond its use in jewelry, silver’s role in high-tech industries—specifically AI servers and next-generation solar cells—is creating a physical shortage that speculative trading cannot easily fix.
Future Outlook: Is ₹3 Lakh Inevitable?
With a gain of ₹15,000 on January 14th followed by another ₹5,000 today, the momentum is undeniably bullish.6 Market experts suggest that if the current geopolitical tensions and industrial demand persist, silver could breach the ₹3,00,000 per kg mark nationally before the end of the week.
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