The spot price of silver on January 5 stood at $75.34 per ounce as of 7:42 am IST, representing a gain of 3.69 percent in a day and 4.19 percent in a week. The prices have appreciated in the aftermath of the recent military attack by the US against Venezuela, which saw investors rush to buy the precious metal on hopes of further price rise.
The domestic futures price of silver on MCX opened the Monday session at Rs 2,46,198 per 1 kilogram of 999 purity. The price is up 4.18 percent from its previous close at Rs 2,36,316. The price of precious white metal hit an all-time high at Rs 2,54,174 as recorded on December 29, 2025.
Check out below to see the prices of 1 kilogram of 999 purity silver.
| Date | Price (₹) |
|---|---|
| Jan. 2, 2026 | 2,34,550 |
| Jan. 1, 2026 | 2,29,150 |
Source: Indian Bullion Jewellers Association – 18:30 rate session as on Jan. 2, 2026.
Why is silver up?
Silver’s extraordinary rally from $29.30 (Rs 87,300) in January 2025 to $71 ( Rs 2,35,920) in December 2025, a surge of over 170 percent, marks one of the strongest bull runs in the metal’s modern history.
The precious white metal began the New Year with a 3 percent surge as geopolitical worries and optimism for lower interest rates this year kept safe-haven demand strong.
City-wise silver prices in India today
Silver rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs.
| Silver Price Today (₹) | |
|---|---|
| City | 1 Kilogram (₹) |
| Chennai | 2,56,900 |
| Mumbai | 2,40,900 |
| Delhi | 2,40,900 |
| Kolkata | 2,40,900 |
| Bangalore | 2,40,900 |
| Hyderabad | 2,56,900 |
| Kerala | 2,56,900 |
| Pune | 2,40,900 |
| Vadodara | 2,40,900 |
| Ahmedabad | 2,40,900 |
| Source: Good Returns | |
Outlook: Will silver regain momentum this week?
Analysts predict that the prices of precious metals could appreciate in the aftermath of the US military attack against Venezuela on Saturday (January 3).
Prices of precious metals surge during geopolitical tensions, which drive demand for safe-haven metals, such as gold and silver. The US attack against Venezuela has further fueled the prices of an already favourable environment for white metal, buoyed by industrial demand and expectations of further rate cuts by the US later this month.
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