Silver Price Today, 31 January 2026: Silver prices in India consolidated on Saturday following a week of historic volatility. After surging past the ₹4.10 lakh per kg milestone, the metal saw a sharp correction, closing the month with a significant pullback as profit-booking and a stronger US dollar prompted investors to cash in on recent gains.
Silver Price Today (31 January, 2026)
- 1 gram: ₹394.90
- 8 grams: ₹3,159.20
- 10 grams: ₹3,949
- 100 grams: ₹39,490
- 1 kg: ₹3,94,900
- Compared to January 30, 2026, a minimal decrease of ₹0.10 per gram.
- MCX silver futures traded with high volatility, retreating from the record high of ₹4,10,000 per kg seen earlier in the week.
Silver Rate Today: Consolidation After Historic Rally
- Prices stabilised near ₹3.95 lakh per kg after a massive rally and correction.
- Weekly performance remains strongly positive, up over ₹70,000 per kg since January 23.
- Market finding a new equilibrium after extreme speculative activity and profit-booking.
- International silver futures retreated from the $120 per ounce peak.
Silver Price Today: MCX Gold & Silver Prices in India
- MCX Silver (Jan): ₹3,94,900 per kg
- MCX Gold (Jan): ₹1,69,200 per 10g
- The silver-to-gold ratio remained at historically low levels, indicating silver’s relative outperformance over the longer term.
Silver Prices in Mumbai
- 10 grams: ₹3,950
- 100 grams: ₹39,500
- 1 kg: ₹3,95,000
- Minimal change from yesterday, showing market stability after recent swings.
Silver Rate Today in Delhi
- 10 grams: ₹3,949
- 100 grams: ₹39,490
- 1 kg: ₹3,94,900
- A slight decrease of ₹0.10 per gram, mirroring the subdued national trend.
Silver Prices in Kolkata
- 10 grams: ₹3,950
- 100 grams: ₹39,500
- 1 kg: ₹3,95,000
- Prices held steady, with local demand providing a floor.
Silver Rate in Bengaluru
- 10 grams: ₹3,950
- 100 grams: ₹39,500
- 1 kg: ₹3,95,000
- Market activity was muted as participants assessed the new price levels.
Silver Prices in Chennai
- 10 grams: ₹4,050
- 100 grams: ₹40,500
- 1 kg: ₹4,05,000
- Continued to trade at a regional premium but followed the broader corrective trend.
Silver Price City-wise (₹/kg)
| City | 10 grams | 100 grams | 1 kg |
|---|---|---|---|
| Chennai | ₹4,050 | ₹40,500 | ₹4,05,000 |
| Mumbai | ₹3,950 | ₹39,500 | ₹3,95,000 |
| Delhi | ₹3,949 | ₹39,490 | ₹3,94,900 |
| Kolkata | ₹3,950 | ₹39,500 | ₹3,95,000 |
| Bengaluru | ₹3,950 | ₹39,500 | ₹3,95,000 |
| Hyderabad | ₹4,050 | ₹40,500 | ₹4,05,000 |
| Kochi | ₹4,050 | ₹40,500 | ₹4,05,000 |
| Pune | ₹3,950 | ₹39,500 | ₹3,95,000 |
| Ahmedabad | ₹3,950 | ₹39,500 | ₹3,95,000 |
Silver Rate in India for Last 10 Days
| Date | 10 grams | 100 grams | 1 kg |
|---|---|---|---|
| 31 Jan, 2026 | ₹3,949 | ₹39,490 | ₹3,94,900 |
| 30 Jan, 2026 | ₹3,950 | ₹39,500 | ₹3,95,000 |
| 29 Jan, 2026 | ₹4,100 | ₹41,000 | ₹4,10,000 |
| 28 Jan, 2026 | ₹3,800 | ₹38,000 | ₹3,80,000 |
| 27 Jan, 2026 | ₹3,700 | ₹37,000 | ₹3,70,000 |
| 26 Jan, 2026 | ₹3,600 | ₹36,000 | ₹3,60,000 |
| 25 Jan, 2026 | ₹3,350 | ₹33,500 | ₹3,35,000 |
| 24 Jan, 2026 | ₹3,350 | ₹33,500 | ₹3,35,000 |
| 23 Jan, 2026 | ₹3,400 | ₹34,000 | ₹3,40,000 |
| 22 Jan, 2026 | ₹3,250 | ₹32,500 | ₹3,25,000 |
Silver Stabilises After Record-Breaking Rally
Global silver prices consolidated below the $120 per ounce mark after an unprecedented surge. The metal, which had seen a year-to-date gain exceeding 64%, entered a period of correction as speculative long positions were reduced. Analysts noted that while the short-term technical picture suggested overbought conditions, the long-term fundamentals driven by industrial demand in green energy and electronics remained supportive. The market’s focus has now shifted to whether this consolidation forms a new base for the next leg higher or precedes a deeper correction.
Market Seeks Direction After Volatile Month
Traders are assessing the sustainability of silver’s meteoric January rise. The rapid price advance, which stretched valuations, has made the market vulnerable to swift pullbacks. The primary question is whether the recent correction represents healthy profit-taking within a strong bull market or the beginning of a more significant trend reversal. Future price action will likely hinge on the direction of the US dollar, physical investment demand, and trading activity on futures exchanges like the MCX.
