Silver prices saw some volatility on October 9 as investors may have resorted to profit booking at elevated levels. While domestic prices increased, silver futures dropped in trade.
Silver futures with December expiry on the Multi Commodity Exchange (MCX) dropped more than 0.6 percent to Rs 1,48,910 per kilogram, as seen at 10.40 am. This comes a day after the contracts hit fresh all time highs.
Silver futures with March and May expiry were also down around 0.5 percent and 0.4 percent respectively.
Check citywise silver rates:
Let's check the latest prices of 10 grams of 22 carat and 24 carat silver in major cities of the country on October 9:
| City | Price of 1 kilogram of silver |
| Delhi | Rs 1,61,000/kg |
| Mumbai | Rs 1,61,000/kg |
| Chennai | Rs 1,71,000/kg |
| Kolkata | Rs 1,61,000/kg |
| Bengaluru | Rs 1,61,000/kg |
| Jaipur | Rs 1,61,000/kg |
| Lucknow | Rs 1,61,000/kg |
| Hyderabad | Rs 1,71,000/kg |
| Ahmedabad | Rs 1,61,000/kg |
"We believe strong investment demand, large silver supply deficit and Fed cuts may continue to support silver prices over the medium to long term for a three to five-year horizon. Silver may outperform gold in the medium term with favorable gold/silver ratio, recovery in developed economies, strong industrial demand especially from China, and global supply deficit projections," reads Tata Mutual Fund Silver Outlook (October 2025) report.
"Rising investment and industrial demand along with recovery expectations in China is positively influencing silver price," it explained.
Gold prices volatile:
Gold also saw volatility on October 9. Domestic prices of gold continued to rise, extending the massive rally seen by the precious metal recently. Gold futures however saw some consolidation, as investors may have resorted to profit booking at elevated levels.
Gold futures on MCX with December expiry were down 0.11% (Rs 138) to Rs 1,23,071 per 10 grams. This comes after several sessions of hitting fresh lifetime highs. The future contracts with February and April expiry fell 0.09 percent and 0.03 percent, as seen at 10.18 am, after hitting fresh lifetime highs during the day.
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