Silver prices in India have seen a notable correction today, Tuesday, February 24, 2026, following a massive rally earlier in the week. After touching the ₹3 lakh mark on Monday, the “white metal” has retreated, providing a potential entry point for buyers looking to capitalize on recent volatility.
According to the latest data from GoodReturns, silver prices have dropped by ₹15,000 per kilogram today, reflecting the high-stakes environment currently defining the precious metals market.
Today’s Silver Prices in India (INR)
The sharp decline today comes after a “stormy rally” on Monday. Below is the current price breakdown for silver in India:
| Unit | Today’s Price (Feb 24) | Yesterday’s Price | Change |
| 1 Gram | ₹285 | ₹300.10 | 📉 -₹15.10 |
| 10 Grams | ₹2,850 | ₹3,001 | 📉 -₹151 |
| 100 Grams | ₹28,500 | ₹30,010 | 📉 -₹1,510 |
| 1 Kilogram | ₹2,85,000 | ₹3,00,100 | 📉 -₹15,100 |
City-Wise Silver Rates (February 24, 2026)
While the national average has dropped, silver rates vary across Indian cities due to local taxes and demand. Interestingly, southern hubs like Chennai and Hyderabad are maintaining a slightly higher price point compared to the national average.
| City | Price per Kilogram (1kg) | Today’s Change |
| Mumbai | ₹3,00,100 | + ₹100 |
| Delhi | ₹3,00,100 | + ₹100 |
| Chennai | ₹2,90,000 | – ₹10,000 |
| Bangalore | ₹3,00,000 | – ₹100 |
| Hyderabad | ₹3,00,100 | + ₹100 |
| Jaipur | ₹2,85,000 | – ₹15,000 |
Why are Silver Prices Volatile Today?
The Indian silver market is currently navigating a period of extreme “price discovery.” Several factors are driving today’s movement:
- Weak Global Cues: Spot silver struggled to hold its ground in international markets today, hovering around $85-$87 per ounce. This follows a massive 4% surge on Monday, leading to profit-booking by global traders.
- Safe-Haven Rush vs. Industrial Demand: While geopolitical tensions (including US tariff shocks) are driving investors toward precious metals, the high price point has temporarily cooled domestic retail demand in India.
- The Gold-Silver Divergence: Interestingly, while silver dropped today, gold prices surged for a second straight day, hitting over ₹1.61 lakh per 10g (24K). This divergence often happens when silver, the more volatile of the two, undergoes a “cooling off” period after a rapid spike.
- Currency Fluctuations: The Rupee’s movement against the US Dollar remains a critical factor in determining the landed cost of silver imports in India.
Historical Context: February 2026 Trends
February has been one of the most volatile months for silver in recent years:
- Feb 1: Opened at ₹3,50,000 per kg.
- Feb 18: Hit a monthly low of ₹2,55,000 per kg.
- Feb 23: Rebounded sharply to ₹3,00,100 per kg.
- Feb 24 (Today): Settled at ₹2,85,000 per kg.
Investor’s Outlook: Buy or Wait?
Experts suggest that silver remains in a long-term bullish cycle due to its dual role as a financial asset and an industrial essential (especially in solar and EV technology). However, the current “zig-zag” price movement suggests that retail buyers should consider a laddered buying strategy—investing in small amounts during dips rather than a single lump sum.
For those who prefer digital assets, Silver ETFs continue to be a popular choice in India, offering high liquidity without the concerns of physical storage or 3% GST.