Silver Rate Today, February 07, 2026: Check Latest Prices of White Metal in Delhi, Mumbai, Chennai, and Other Major Cities
Today, February 7, silver rates (silver prices) in India hit a fresh low, trading at INR 274.90 per gram and INR 2,74,900 per kg. The market has seen a 21 per cent decline this month, driven by a strong US dollar and global profit-booking. While rates are steady today, prices remain significantly lower than the January peak of INR 4 lakh per kg.
Mumbai, February 7: Silver rates (silver prices) in India faced a significant downturn on Saturday, February 7, 2026, extending a "bloodbath" in the precious metals market that has wiped out nearly 21 per cent of the metal's value since the start of the month. Retail silver is currently trading at INR 274.90 per gram, bringing the price of one kilogram to INR 2,74,900. This marks a sharp decline from the INR 3,00,000 level seen just 48 hours ago, as panic selling and a strengthening US dollar continue to weigh heavily on investor sentiment across domestic bullion hubs. Scroll below to check silver prices in major Indian cities like Delhi, Mumbai, Chennai, Hyderabad, Bengaluru, Ahmedabad, Kolkata, Pune, Kerala, and Vadodara.
City-Wise Retail Rates
The price correction has been largely uniform across the country, though southern markets like Chennai continue to maintain a slight premium due to higher local demand and varying tax structures. Gold Rate Today, February 07, 2026: Check 22K & 24K Gold Prices in Delhi, Mumbai, Chennai and Other Cities.
Check silver rates (silver prices) in Delhi, Mumbai, Chennai, Hyderabad, Bengaluru, and other cities below.
Silver Rates Today As of January 26, 2026 (Per Kilogram)
| City | Silver Price Today |
| Delhi | INR 2,74,900 |
| Mumbai | INR 2,74,900 |
| Chennai | INR 2,79,900 |
| Hyderabad | INR 2,79,900 |
| Bengaluru | INR 2,74,900 |
| Ahmedabad | INR 2,74,900 |
| Kolkata | INR 2,74,900 |
| Pune | INR 2,74,900 |
| Kerala | INR 2,79,900 |
| Vadodara | INR 2,74,900 |
Factors Driving the Market Crash
Analysts point to a "perfect storm" of macroeconomic factors for the current volatility. The primary catalyst remains the strengthening of the US Dollar Index, which recently climbed following the nomination of Kevin Warsh as the next Federal Reserve Chair. A stronger dollar traditionally makes dollar-priced commodities like silver more expensive for Indian buyers, dampening demand.
Additionally, industrial demand - a major driver for silver - has seen a temporary dip. Reports indicate that solar panel manufacturers in China are seeking cheaper alternatives to silver, leading to a reduction in bulk buying interest. In India, profit-booking by large-scale investors who entered the market during the record highs of January has further accelerated the price drop. Silver Rate Today, February 06, 2026: Check Latest Prices of White Metal in Delhi, Mumbai, Chennai, and Other Major Cities.
Historical Context: From Peaks to Pits
The current price of INR 2.75 lakh per kg stands in stark contrast to the record peak of over INR 4 lakh per kg reached in late January 2026. Within just one week, the metal has entered a freefall, breaking past key support levels at INR 3.20 lakh and INR 3 lakh.
(The above story first appeared on LatestLY on Feb 07, 2026 08:34 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).