Silver price today: Domestic rates hit all-time high of Rs 3,59,950/kg amid global dip

Silver price today

• Global silver price fell 5.61 percent to $109 per ounce on January 27
• Silver peaked at $117 per ounce amid geopolitical tension and industrial demand
• Indian silver prices rose, surpassing Rs 3,59,950 on MCX and Rs 3,17,705 on IBJA.

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The global price of silver fell 5.61 percent at $109 per ounce on January 27 (4:42 am GMT) on Comex. The metal surged to its peak performance on Monday, trading at $117 per ounce amid geopolitical tension led by US President Donald Trump, and continued industrial demand.

Meanwhile, the metal's futures price is up on MCX, hitting an all-time high of Rs 3,59,950 on Tuesday's session. The prices continued to hover at Rs 3,54,398 (10:25 am IST), which is a gain of 5.89 percent from its previous close. Silver previously hit a record high of Rs 3,39,927 on January 23, 2026.

The Indian Bullion Jewellers Association (IBJA) pegged the silver price at Rs 3,17,705 in its 18:30 rate session on January 23,  which is a 6 percent gain from the previous price at Rs 2,99,711 per kilogram.

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.

Outlook: Will silver continue its momentum

Silver crossed the $100 mark for the first time on Comex on January 23, driven by geopolitical concerns, especially around US-Iran relations, and a rise in industrial demand.  The Augmont Bullion report, published on January 23, noted that silver prices have corrected but continue to act as strong support.

“Overall, dips are likely to attract buying interest rather than signal a trend reversal,” the report said.