Silver Price Today (February 1): Silver prices in India remained unchanged on February 1, 2026, as markets absorbed the implications of the Union Budget 2026 without any immediate reaction. After a sharp and sudden correction at the end of January, silver entered a consolidation phase, reflecting easing selling pressure and cautious investor sentiment.
On Budget Day, silver was priced at Rs 350 per gram, while one kilogram of silver stood at Rs 3,50,000, unchanged from the previous session.
Silver Price Today (February 1) in India After Budget 2026
The stability in silver prices came after heavy losses in the previous week, when prices fell sharply due to aggressive profit-booking and global market weakness.
- 1 gram: Rs 350
- 8 grams: Rs 2,800
- 10 grams: Rs 3,500
- 100 grams: Rs 35,000
- 1 kilogram: Rs 3,50,000
Traders noted reduced volatility as markets awaited a clearer global direction.
Silver Prices Stabilise After Sharp January Correction
Silver witnessed intense selling pressure at the end of January, including a Rs 45,000 per kilogram fall on January 31 and a Rs 15,000 decline on January 30. After these steep corrections, prices found support, leading to a calm trading session on Budget Day. Market participants see the current phase as technical consolidation rather than a reversal.
Why Union Budget 2026 Had Limited Impact on Silver Prices?
Unlike sectors directly influenced by policy measures, silver prices remained insulated from Budget announcements. The government’s emphasis on growth-oriented investments and economic expansion did not introduce any immediate incentives or restrictions affecting silver demand.
Silver, which serves both industrial and investment purposes, continues to depend largely on global industrial demand, currency trends, and commodity cycles.
Expert View on Precious Metals Post Budget
“The government is all set to maintain growth momentum and promote economic activity. So, naturally, the policymakers won’t encourage gold buying. According to them, investing in physical gold is an idle investment, though it may help households hedge against inflation,” said Umesh Mohanan, ED & CEO of Indel Money.
While the comment focuses on gold, the broader message applies to silver as well, particularly in the context of discouraging idle investments.
What’s Next for Silver Prices?
Silver prices may see fresh movement once global cues such as industrial demand forecasts, US monetary policy, and currency fluctuations become clearer. For now, the market appears to have absorbed recent shocks, offering temporary stability.
Investors are expected to remain cautious in the near term, keeping a close watch on international developments rather than domestic policy signals.
