Silver Price Today, 8 April 2026: Silver prices have reacted significantly to the announcement of a two-week ceasefire between the US and Iran. The de-escalation of geopolitical tensions, combined with a sharp drop in oil prices, has reduced the immediate safe-haven demand for precious metals. Global spot silver has experienced downward pressure as investors rotate out of defensive assets following the diplomatic breakthrough. In the domestic market, silver prices have started to soften after the high volatility of early April.
International Silver Rates
- Spot Silver (XAG/USD): Currently trading near $71.83 – $73.02 per ounce
- Market Sentiment: Prices have retreated approximately 20–25% from the record highs seen in January 2026 (~$121) as energy-driven inflation fears ease with the ceasefire
- Technical Outlook: Immediate support is identified at $70.00, while resistance remains near $75.00
- Key Driver: The de-escalation of geopolitical tensions has reduced the immediate safe-haven demand for precious metals
Domestic Silver Prices (India) – 8 April 2026
Domestic prices have started to soften or hold steady after the high volatility of early April.
- 1 Gram: ₹249.90 (-₹0.10)
- 10 Grams: ₹2,499 (-₹1)
- 1 Kilogram: ₹2,49,900 (-₹100)
Note: These retail rates exclude the 3% GST and making charges for physical silver products.
City-wise Silver Rates (per kg)
New Delhi
Silver Rate: ₹2,49,900 | Status: Stable
Mumbai
Silver Rate: ₹2,49,900 | Status: Stable
Chennai
Silver Rate: ₹2,54,900 | Status: Premium (Southern premium)
Bangalore
Silver Rate: ₹2,49,900 | Status: Stable
Hyderabad
Silver Rate: ₹2,54,900 | Status: Premium (Southern premium)
Kolkata
Silver Rate: ₹2,49,900 | Status: Stable
Pune
Silver Rate: ₹2,49,900 | Status: Stable
Ahmedabad
Silver Rate: ₹2,49,900 | Status: Stable
Kerala
Silver Rate: ₹2,54,900 | Status: Premium (Southern premium)
Vadodara
Silver Rate: ₹2,49,900 | Status: Stable
Note: Southern markets (Chennai, Hyderabad, Kerala) continue to trade at a premium of approximately ₹5,000 to ₹10,000 compared to other metros.
Indian Major Cities Silver Rates Today (per kg)
| City | Silver Rate |
|---|---|
| Chennai | ₹2,54,900 |
| Hyderabad | ₹2,54,900 |
| Kerala | ₹2,54,900 |
| Mumbai | ₹2,49,900 |
| Delhi | ₹2,49,900 |
| Kolkata | ₹2,49,900 |
| Bangalore | ₹2,49,900 |
| Pune | ₹2,49,900 |
| Ahmedabad | ₹2,49,900 |
| Vadodara | ₹2,49,900 |
Silver Rate in India for Last 10 Days (1 kg)
| Date | Silver Rate (per kg) | Daily Change |
|---|---|---|
| 08 Apr 2026 | ₹2,49,900 | -₹100 |
| 07 Apr 2026 | ₹2,50,000 | 0 |
| 06 Apr 2026 | ₹2,50,000 | 0 |
| 05 Apr 2026 | ₹2,50,000 | 0 |
| 04 Apr 2026 | ₹2,50,000 | 0 |
| 03 Apr 2026 | ₹2,50,000 | 0 |
| 02 Apr 2026 | ₹2,50,000 | -₹5,000 |
| 01 Apr 2026 | ₹2,55,000 | +₹5,000 |
| 31 Mar 2026 | ₹2,50,000 | +₹5,000 |
| 30 Mar 2026 | ₹2,45,000 | 0 |
Market Impact of the Ceasefire
Safe-Haven Pullback
- The “war premium” is rapidly evaporating as the US-Iran ceasefire reduces immediate geopolitical risks
- Investors are rotating out of defensive assets following the diplomatic breakthrough
Oil Price Impact
- US crude oil plunged more than $12 per barrel (approximately 10.6%) immediately after the ceasefire was announced
- Lower energy costs ease inflation fears, which historically impacts silver’s industrial demand outlook
Federal Reserve Outlook
- Some analysts suggest a floor may form as falling energy costs could lead to a more dovish US Federal Reserve stance later this year, which is historically bullish for silver
- Lower interest rates reduce the opportunity cost of holding non-yielding assets like silver
Market Summary
- April Trend: Silver opened April at ₹2,55,000 per kg and has since declined to ₹2,49,900, a fall of approximately 2%
- Year-on-Year: Prices have retreated approximately 20–25% from the record highs seen in January 2026 (~$121)
- MCX Futures: May silver futures recently tested lows around ₹2,24,621 – ₹2,29,651 per kg in early trade
- Regional Premiums: Southern markets continue to command a premium of ₹5,000–₹10,000 per kg due to higher local demand
Can Silver Prices Rise Again?
- Technical Levels: Support at $70 per ounce; resistance at $75
- Ceasefire Duration: The two-week ceasefire is temporary; any breakdown could renew safe-haven demand
- Fed Rate Expectations: Easing inflation from lower oil prices could lead to rate cuts, a positive for silver
- Industrial Demand: Strong electronics and solar sector demand provides a long-term floor
Key Considerations for Buyers
- GST: 3% applicable on silver value
- Making Charges: Typically range from 5% to 25% for physical items
- Regional Premiums: Southern cities command higher rates due to increased cultural and industrial demand
Disclaimer: Silver price in India is determined by international prices and currency movement. All rates are indicative and exclude GST and making charges. Please check with local jewellers for exact pricing.
