The silver market in India is currently witnessing a historic shake-up. After a meteoric rise that saw prices touch unprecedented heights in January, February 11, 2026, marks a significant period of correction. For investors and industrial buyers, the “white metal” is currently in a phase of rapid price discovery.
According to the latest data from GoodReturns, silver prices have plummeted by over ₹10,000 per kg in recent sessions, reflecting a broader global sell-off.
Today’s Silver Rate in India (February 11, 2026)
While the market remains fluid, here are the average retail prices across India today:
| Unit | Today’s Price | Yesterday’s Price | Change |
| 1 Gram | ₹289 | ₹300 | -₹11 ▼ |
| 10 Grams | ₹2,890 | ₹3,000 | -₹110 ▼ |
| 100 Grams | ₹28,900 | ₹30,000 | -₹1,100 ▼ |
| 1 Kilogram | ₹2,89,000 | ₹3,00,000 | -₹11,000 ▼ |
City-Wise Silver Prices (Per 1 KG)
Despite the nationwide slump, local demand in South India keeps rates slightly higher compared to the national average.
- Delhi: ₹2,89,000
- Mumbai: ₹2,89,000
- Chennai: ₹2,98,900
- Bangalore: ₹2,89,000
- Hyderabad: ₹2,98,900
- Pune: ₹2,72,340
Why is Silver Crashing in February 2026?
The sudden 30-40% drop from the January peak of ₹4.1 lakh per kg has left many investors searching for answers. Several “perfect storm” factors are at play:
- CME Margin Hikes: Major global exchanges (like the CME Group) have recently raised the margin requirements for trading silver futures. This has forced leveraged traders to sell their holdings quickly to cover costs, leading to a massive “liquidation” event.
- Dollar Strength: The US Dollar has rebounded sharply following hawkish comments from Federal Reserve officials. Since silver is priced in dollars, a stronger greenback makes the metal more expensive for Indian buyers, dampening demand.
- Profit Booking: After silver gained over 150% in 2025, institutional investors are “cashing out” their gains, leading to a natural market correction.
- De-escalating Geopolitics: Reports of cooling tensions in key global conflict zones have reduced the “safe-haven” premium that was keeping silver prices artificially high.
The Dual Identity of Silver: Industrial vs. Precious
Silver’s volatility is unique because it is both a financial asset and an industrial necessity.
- Industrial Demand: Roughly 60% of silver is used in industrial applications, specifically in solar panels, 5G technology, and Electric Vehicles (EVs). Even as the price crashes, these long-term fundamentals remain strong.
- Investment Demand: In India, silver ETFs and Digital Silver have become popular. However, experts warn that silver is “thinly traded” compared to gold, meaning small shifts in sentiment can lead to massive price swings.
Investment Strategy: Is it Time to Buy the Dip?
Wealth managers are currently advising a cautious and staggered approach.
- Avoid “Lump-Sum” Buying: Given the current volatility, putting all your capital into silver at once is risky.
- Systematic Investment: Buying small amounts regularly (SIP style) through Silver ETFs or Digital Silver allows you to average out your purchase price.
- The 15% Rule: Financial advisors suggest limiting your total precious metal exposure (Gold + Silver) to 15-20% of your total portfolio.
Conclusion
The “Silver Shock” of February 2026 is a reminder of the metal’s high-risk, high-reward nature. While the current prices are significantly lower than last month’s highs, silver remains sensitive to US inflation data and Federal Reserve policy updates.