Silver prices in India showed fresh movement on 8 February, with traders watching both domestic demand and global commodity signals. Market activity picked up after recent volatility, and jewellers as well as investors are closely tracking whether momentum can sustain above key resistance levels.
Below is a clear city-wise snapshot along with the latest market cues influencing today’s rates.
Latest Silver Rate in Key Cities
According to bullion market updates, retail prices in most metro centres are hovering near similar bands, though small variations may occur due to local taxes, transport, and dealer margins.
Per Kilogram (Approx.)
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Delhi – around ₹2.85 lakh
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Mumbai – around ₹2.85 lakh
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Chennai – around ₹2.85 lakh
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Bengaluru – around ₹2.85 lakh
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Lucknow – near prevailing national average
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Patna – near prevailing national average
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Noida – close to Delhi trend
(Retail quotes may differ slightly by dealer.)
MCX Trend Traders Are Watching
Participants in the futures market say the next breakout zone is crucial. If prices manage to hold above nearby resistance, analysts expect renewed buying interest. Failure to sustain could keep the metal range-bound.
Short-term traders are therefore balancing optimism with caution after the sharp swings seen earlier in the week.
What’s Driving the Daily Moves?
Silver rarely moves for one single reason. Instead, a combination of factors influences the price you see at jewellery shops and bullion counters:
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International spot market direction
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Dollar versus rupee movement
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Industrial demand (solar, electronics, manufacturing)
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Investor appetite for safe-haven assets
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Profit-booking after rapid rallies
When global uncertainty rises, precious metals usually attract buyers. When equity markets look stronger, some money flows out of bullion.
Why Weekend Prices Often Stay Flat
Because wholesale markets typically pause on Saturdays and Sundays, many traders carry forward the last working day’s closing level. Retail shops may still adjust slightly depending on local demand.
Investor Mood Right Now
After the recent correction and rebound, sentiment is mixed. Long-term buyers view dips as accumulation opportunities, while short-term traders are waiting for confirmation of direction before committing larger volumes.
Jewellers report steady enquiries, especially from customers planning upcoming wedding purchases.
Should Buyers Rush?
If you need silver for an event, spreading purchases rather than trying to time the exact bottom is usually considered safer. Markets can reverse quickly, and emotional decisions often cost more than small price differences.
Quick FAQ
What is today’s broad silver level?
Most large cities are trading near ₹2.85 lakh per kg.
Do prices vary between cities?
Yes, logistics, state taxes, and dealer premiums can create small differences.
What makes silver rise or fall daily?
Global trends, currency strength, and investment demand.
Is MCX movement important for retail buyers?
Yes. Futures direction often influences next-day spot pricing.
This content is published for general information and awareness purposes. kixxoil.pk is an independent informational website and is not officially connected with any government authority or public institution. Readers are encouraged to confirm details directly from official sources before making any decisions.
