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Silver Price Today [4 February, 2026]: MCX Silver Rate Slips to Lower Circuit, Trades Near ₹2.80 Lakh/kg, Check City-Wise Silver Rate in Chennai, Delhi, Mumbai, Kolkata & More

Silver Price Today, 04 February 2026: Silver prices in India crash 31.7% drop in last week. Get the latest MCX rate at ₹2.80 Lakh/kg & City-Wise prices in Delhi, Mumbai, Chennai, Kolkata & more for 4 February 2026. Full analysis inside.

Published by Amreen Ahmad

Silver Price Today, 04 February 2026: In India, the prices of silver have been very volatile in the last one month where silver is at 280 per gram and 2,80,000 per kilogram, showing a significant correction of January when it was 4,10,000 per kg. Demand in the world, fluctuation in currency and industrial utilization are the three forces that have forced this movement to make silver an interesting investment with gold.

Silver Price Today (4 February, 2026)

  • Per gram: ₹280
  • 10 grams: ₹2,800
  • 100 grams: ₹28,000
  • 1 kilogram: ₹2,80,000
  • Prices have declined sharply from yesterday, down ₹20 per gram, following profit-booking and margin hikes on global exchanges.

Silver Rate Today: From Record Highs to Correction

  • January 29: Highest price at ₹4,10,000 per kg
  • January 1: Lowest price at ₹2,38,000 per kg
  • Weekly difference (last week): dropped from ₹3,00,000 per kg to ₹2,80,000 per kg
  • Correction triggered by CME increasing initial margins by 15%, reducing leveraged exposure
  • Spot silver rose slightly today, recovering 8% to $82.74, showing tentative rebound

Silver Price Today: MCX Gold & Silver Prices in India

  • MCX Gold Futures (Feb 2026): ₹1,53,930 per 10g
  • MCX Silver Futures (Feb 2026): ₹2,80,000 per kg
  • Gold remains highly volatile; silver shows more muted swings
  • Gold continues as the preferred hedge, while silver remains an investment tied to industrial demand

Silver Prices in Mumbai

  • 10 grams: ₹2,800
  • 100 grams: ₹28,000
  • 1 kilogram: ₹2,80,000
  • Mumbai shows a minor drop of ₹20 per gram from yesterday

Silver Rate Today in Delhi

  • 10 grams: ₹2,830
  • 100 grams: ₹28,300
  • 1 kilogram: ₹2,83,000
  • Rate slightly higher than Mumbai, reflecting local demand

Silver Prices in Kolkata

  • 10 grams: ₹2,800
  • 100 grams: ₹28,000
  • 1 kilogram: ₹2,80,000
  • Consistent with national average rates

Silver Rate in Bengaluru

  • 10 grams: ₹2,800
  • 100 grams: ₹28,000
  • 1 kilogram: ₹2,80,000

Silver Prices in Chennai

  • 10 grams: ₹3,000
  • 100 grams: ₹30,000
  • 1 kilogram: ₹3,00,000
  • Slightly higher than other metros due to regional premiums

Silver Price City-wise

City

10g

100g

1Kg

Chennai

₹3,000

₹30,000

₹3,00,000

Mumbai

₹2,800

₹28,000

₹2,80,000

Delhi

₹2,830

₹28,300

₹2,83,000

Kolkata

₹2,800

₹28,000

₹2,80,000

Bengaluru

₹2,800

₹28,000

₹2,80,000

Hyderabad

₹3,000

₹30,000

₹3,00,000

Kerala

₹3,000

₹30,000

₹3,00,000

Pune

₹2,800

₹28,000

₹2,80,000

Vadodara

₹2,800

₹28,000

₹2,80,000

Ahmedabad

₹2,800

₹28,000

₹2,80,000

Silver Rate in India for Last 10 Days

Date

10g

100g

1Kg

Feb 03

₹2,800

₹28,000

₹2,80,000

Feb 02

₹3,000

₹30,000

₹3,00,000

Feb 01

₹3,500

₹35,000

₹3,50,000

Jan 31

₹3,500

₹35,000

₹3,50,000

Jan 30

₹3,950

₹39,500

₹3,95,000

Jan 29

₹4,100

₹41,000

₹4,10,000

Jan 28

₹3,800

₹38,000

₹3,80,000

Jan 27

₹3,700

₹37,000

₹3,70,000

Jan 26

₹3,600

₹36,000

₹3,60,000

Jan 25

₹3,350

₹33,500

₹3,35,000

Silver Price Movement in January 2026

Date

Price per Kg

Trend

1 Jan

₹2,38,000

Lowest of the month

29 Jan

₹4,10,000

Highest of the month

31 Jan

₹3,50,000

End-of-month level

% Change

+47.06%

Sharp rise over month

Silver Beats Gold with 26% Returns in a Decade

  • Over the last 10 years, silver delivered 26.1% CAGR, outperforming gold
  • Limited supply and strong industrial demand have fueled higher returns
  • Investors increasingly diversify into silver for portfolio hedging

Is a Silver Crash Coming?

  • Recent sharp corrections sparked concerns among traders
  • CME margin hikes and leveraged position reductions contributed to price drops
  • Analysts suggest the risk of further short-term dips, but long-term fundamentals remain strong

Why Silver Price Rates Hike Every Day?

  • Daily fluctuations driven by international bullion prices
  • Currency movement: Rupee depreciation against the dollar increases local prices
  • Industrial demand from electronics, solar and manufacturing adds upward pressure
  • Investor sentiment and global economic uncertainty influence day-to-day changes
Amreen Ahmad