Silver prices in India are witnessing significant movement today, January 9, 2026, as the market grapples with a wave of profit-taking following recent record-breaking highs. After a historic rally throughout late 2025 and the first week of 2026, the “white metal” has seen a sharp correction in the domestic market, influenced by global cues and shifting economic indicators.
Current Silver Rates Across India (January 9, 2026)
Prices vary slightly across different cities due to local taxes and demand-supply dynamics. Here are the prevailing rates for 1 kg of silver in major Indian cities today:
| City | Silver Rate (per kg) | Change from Yesterday |
| Delhi | ₹2,49,000 | ↓ ₹3,000 |
| Mumbai | ₹2,49,000 | ↓ ₹3,000 |
| Chennai | ₹2,71,900 | ↓ ₹100 |
| Bangalore | ₹2,51,900 | ↓ ₹100 |
| Hyderabad | ₹2,71,900 | ↓ ₹100 |
| Pune | ₹2,51,900 | ↓ ₹100 |
| Kolkata | ₹2,49,000 | ↓ ₹3,000 |
Note: These prices are indicative and exclude GST and making charges. For live updates, you can refer to the GoodReturns Silver Rate Page.
Why are Silver Prices Fluctuating?
The current volatility in the silver market is driven by several critical factors:
- Global Profit-Booking: After silver touched unprecedented levels near ₹2,60,000 per kg earlier this week, many international and domestic investors have begun locking in profits. This surge in selling pressure has naturally pulled prices back from their peaks.
- US Economic Data: Traders are maintaining a cautious stance ahead of crucial US employment data. A strong dollar, bolstered by expectations surrounding Federal Reserve policy, often puts downward pressure on precious metals.
- China’s Export Restrictions: Effective January 1, 2026, China—a major silver refiner—implemented new export licensing requirements. While this could lead to a physical supply crunch in the long run (pushing prices up), the immediate market reaction has been one of uncertainty and technical adjustment.
- Industrial Demand vs. Safe-Haven Appeal: Silver continues to benefit from its dual role. While safe-haven demand has cooled slightly as some geopolitical tensions ease, the massive industrial requirement for silver in solar panels, Electric Vehicles (EVs), and AI infrastructure remains a strong long-term support pillar.
Future Outlook
Despite the recent dip, many analysts remain bullish on silver for the remainder of 2026. The ongoing supply deficit—now in its fifth consecutive year—coupled with the global push for green energy, suggests that any significant price drop might be viewed as a “buy on dips” opportunity for long-term investors. However, in the short term, the market may remain volatile as it finds a new support level, likely around the ₹2,35,000 to ₹2,40,000 range.