Silver price on January 30: White metal down 5% at Rs 3,91,331 as dollar gains

Silver prices surge

• Silver fell up to 9 percent after surging past $121 per ounce on Comex
• Silver traded at $110.08 per ounce, down 3.80 percent from previous close
• MCX silver price dropped 4.72 percent to Rs 3,91,331 per kg on Friday

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Silver took a knock on January 30 and was trading almost 5 percent down on the MCX, mirroring the fall in the international market as the dollar strengthened.

At 9.21 am, the metal was trading at Rs 3,91,331 for a kilogram, down 4.72 percent from the previous close. Silver had surged past Rs 4 lakh mark the previous day before taking a fall.

It sank 9 percent on Comex but recovered some of the losses to trade at $110.08 an ounce, a decline of 3.8 percent from the previous close.

City-wise silver prices 

Silver rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs.

Here is how a kilogram of silver has moved.

The Augmont Bullion report, published on January 29, said, silver’s breakout above Rs 4,00,000 per kg reflects a deepening macro and geopolitical risk premium rather than short-term speculation. A decisive move above $118 (Rs 4,05,000) targets $125–130 (Rs 4,30,000–4,50,000). Key support lies at $110 (Rs 3,75,000), below which prices may retrace to $103–$98.