Silver price in India falls 7.5%, reaches Rs 3,57,163 per kilogram on January 30

• Silver price in India fell 7.45 percent to Rs 3,57,163 per kg on January 30
• Silver dropped nearly 13 percent from its peak, wiping Rs 53,000 in 24 hours
• Silver sees best monthly gain, up over 50% despite recent fall.

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The Indian Bullion Jewellers Association pegged the price of silver at Rs 3,57,163 per 1 kilogram at its 12:30 pm rate session on January 30. The metal's price in Indian stores is 7.5 percent down from its previous close at Rs 3,85,933, as the US dollar continues to hold strong.

On MCX, the metal's futures price dipped 8.16 percent at Rs 3,67,231 per kg as of 1:30 pm IST. The price of silver has come down almost 13 percent from its peak performance at Rs 4,20,048 per kg, which wiped close to Rs 53,000 from the market in the last 24 hours.

Meanwhile, on Comex, gold prices fell stood at $106.75 per ounce as of 7:30 am GMT, representing 6.72 percent decline from the previous close.

Check the prices of silver as of January 30, 2026

Why is silver down?

According to the Augmont Bullion report, published on January 30, silver prices can consolidate in the range of $108 to $120 before resuming its uptrend towards $125–$130 (Rs 4,30,000–Rs 4,50,000). Key support lies at $108 (Rs 3,60,000), below which prices may retrace to $103–$98.

"Despite the fall, silver continued to outperform, with prices set to rise over 50% in January, marking the best monthly performance on record and extending its rally to nine consecutive months," the report stated.

The broader precious metals rally has been driven by persistent geopolitical and macroeconomic risks, coupled with a sharp depreciation in the US dollar following policy uncertainty in Washington and President Donald Trump’s apparent comfort with a weaker currency.