Silver prices in India are witnessing a mild correction today after a period of strong upward movement throughout April. As of Thursday, 23 April 2026, the domestic price of silver stands at approximately ₹2,64,900 per kilogram. Despite the slight softening, the overall market sentiment remains firm, supported by global uncertainties and consistent industrial demand.
| City | Silver Price (per 1 kg) | Silver Price (per 100g) |
| Delhi | ₹2,64,900 | ₹26,490 |
| Mumbai | ₹2,64,900 | ₹26,490 |
| Chennai | ₹2,74,900 | ₹27,490 |
| Bangalore | ₹2,64,900 | ₹26,490 |
| Hyderabad | ₹2,74,900 | ₹27,490 |
| Kolkata | ₹2,64,900 | ₹26,490 |
Across major cities, silver prices show some variation due to differences in local taxes, logistics, and regional demand. In Delhi, Mumbai, Bangalore, and Kolkata, silver is priced at ₹2,64,900 per kilogram, which translates to ₹26,490 per 100 grams. However, cities like Chennai and Hyderabad are witnessing slightly higher rates at ₹2,74,900 per kilogram, or ₹27,490 per 100 grams. These differences are typical in India’s bullion market and reflect localized factors rather than a broader shift in trend.
The recent price movement is largely influenced by global market dynamics. Ongoing geopolitical tensions, particularly in the Middle East, continue to support precious metals as safe-haven assets. However, a minor recovery in the US dollar has led to some correction in silver prices from last week’s highs. This balancing act between risk sentiment and currency strength is keeping prices in a narrow range.
Another key factor driving silver prices in 2026 is its growing industrial demand. Silver plays a crucial role in sectors like electronics, renewable energy, and electric vehicles. The increasing use of silver in solar panels and EV components has significantly strengthened its demand base, preventing sharp declines even during short-term corrections. This dual role—as both an investment metal and an industrial commodity—continues to make silver a unique asset in the global market.
Looking at the broader trend, April has largely been a bullish month for silver. Prices started around ₹2,55,000 per kilogram at the beginning of the month and surged to a peak of nearly ₹2,75,000 on April 18 before stabilizing at current levels. This indicates that while short-term fluctuations are present, the overall trajectory remains upward.
For retail buyers and small investors, silver is currently priced at approximately ₹2,649 per 10 grams, making it accessible compared to gold while still offering strong growth potential. Market experts believe that the long-term outlook for silver remains positive, especially with tightening global supply and rising industrial consumption.
It is important to note that these are indicative retail prices and do not include additional costs such as 3% GST or making charges. Investors are advised to check live rates on the Multi Commodity Exchange (MCX) or consult local dealers before making any major purchase decisions.
