Silver Prices Surge: Weekly jump of over 6% — Check today's rates in your city

Silver price today

• Silver spot price rose 0.15% to $77.17/oz, up 6.13% in a week as of Jan 8
• MCX silver futures closed at Rs 2,42,631/kg, down 0.28% from previous close
• Silver prices influenced by geopolitical tensions, US data; investors await NFP report

Did our AI summary help?

The spot price of silver on January 8 stood at $77.17 per ounce as of 7:55 am IST, representing a 0.15% gain from its previous close and a 6.13% increase in a week.

The domestic futures price of silver on MCX closed the Thursday session at Rs 2,42,631 per 1 kilogram of 999 purity, representing a decline of 0.28 percent from its previous close at Rs 2,43,324. The price of precious white metal previously peaked at Rs 2,59,692 as recorded on January 7, 2025.

Check out below to see the prices of 1 kilogram of 999 purity silver.

Source: Indian Bullion Jewellers Association – 18:30 rate session as on Jan. 8, 2026.

Why is silver up?

The Augmont Bullion report, published on January 8, noted that precious metals saw profit booking as traders locked in profits ahead of the US NFP report, while investors weighed mixed US economic data and geopolitical risks remained a significant focus.

Read more: Silver races ahead of gold: 7 trends investors should watch in 2026

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.

Outlook: Will silver regain momentum this week?

Here are other factors that have contributed to the price rise in precious metals, as per Augmont:

• US job vacancies declined more than expected in November after rising somewhat in October, while a separate ADP report showed that private payrolls climbed less than predicted in December. 
• Investors are now turning to Friday's nonfarm payrolls report for clues on the central bank's policy direction, with markets expecting two rate cuts this year. 
• On the geopolitical front, Washington announced preparations to take long-term control of Venezuelan petroleum sales, while US officials detained several Venezuela-linked vessels. 
• The White House also revealed discussions about seizing Greenland, including possible military involvement. 
• The resilient global risk mood has begun to show indications of weakness as a result of escalating geopolitical tensions, which could act as a tailwind for the safe-haven commodity.