Silver price today: Rate slips 1.73% from record high of Rs 2,02,000/kg. Check 10g, 100g, 1Kg prices in your city

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

The spot price of silver stood just above $63 an ounce on December 16 (7:30 am IST), down 0.55 percent in a day and up 5.02 percent in a week.

The domestic price of silver on the futures market on MCX closed the Monday session at Rs 1,98,500, which is a 0.01 percent decline from its previous close. The white metal peaked all-time high of Rs 2,02,000 on the commodity exchange as recorded on Friday (December 12).

As silver hits a performance peak, its sales in the domestic market are down 10 percent year-on-year (YoY) in November 2025, according to the Indian Bullion Jewellers Association (IBJA).

Check table below for the prices of 1 kg of 999 purity silver over the last few days -

Source: Indian Bullion Jewellers Association 12:30 rate session

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

Source: Goodreturns

As per the Augmont report, published on December 15, silver prices reached record highs last week, jumping 6 percent, as the FED cut interest rates last week and the Bank of England is expected to cut this week.

"The increase in silver to the Rs 2 lakh level has been fueled by tightening stocks, strong industrial demand, and the metal's inclusion on the US key minerals list."

"Demand has been especially robust in the solar, electric vehicle, and data centre sectors. Strong ETF inflows and retail buying bolstered forecasts of a market deficit next year. At the same time, rising leasing rates and higher borrowing prices for physical silver in London hinted at persistent delivery issues," the report said.

According to Rahul Gupta, Chief Business Officer, Ashika Stock Services, silver is trading steadily after a strong recent run, with prices consolidating amid mixed cues. MCX Silver continues to find buying interest near Rs 1,93,000, while the upside is capped around Rs 2,05,000. A decisive move beyond this resistance could reignite momentum, though near-term consolidation cannot be ruled out.”