Silver Rate Today, February 09, 2026: Check Latest Prices of White Metal in Delhi, Mumbai, Chennai, and Other Major Cities

New Delhi, February 9: Silver rates (silver prices) in India showed signs of stabilisation on Monday, February 9, as the domestic market recalibrated following a period of unprecedented turbulence. As of Monday morning, the retail price for silver stands at approximately INR 2,84,900 per kilogram, reflecting a marginal decline of INR 100 from the previous day. While the "white metal" remains significantly lower than the record highs of early February, traders are noting a steadying of sentiment as global speculative pressures begin to ease. Scroll below to check silver prices in major Indian cities like Delhi, Mumbai, Chennai, Hyderabad, Bengaluru, Ahmedabad, Kolkata, Pune, Kerala, and Vadodara.

City-Wise Silver Rates As of February 9, 2026

Retail prices for silver vary across Indian cities due to regional taxes, transportation costs, and local jewellery association mandates. Silver Rate Today, February 08, 2026: Check Latest Prices of White Metal in Delhi, Mumbai, Chennai, and Other Major Cities.

Check silver rates (silver prices) in Delhi, Mumbai, Chennai, Hyderabad, Bengaluru, and other cities below.

Silver Rates Today As of February 8, 2026 (Per Kilogram)

Note: Discrepancies between sources (ranging from INR 2.45 lakh to INR 2.85 lakh) highlight the current volatility and the difference between spot market rates and retail jewellery prices.

Market Context: A Historic Correction of White Metal

The stability witnessed this morning follows a historic "speculative blowoff." On January 29, silver reached a staggering record high of over INR 4.10 lakh per kilogram, driven by aggressive buying and geopolitical tensions. However, the market underwent a brutal correction shortly after, with prices plunging nearly 40 per cent in a single week.

Analysts attribute today's consolidation to several factors:

Margin Requirements: Major exchanges like the CME Group increased initial margins on silver futures by 15 per cent to 18 per cent, forcing leveraged traders to reduce their positions.

Dollar Strength: The US Dollar has seen a recovery following the nomination of Kevin Warsh as the next Federal Reserve Chair, whose hawkish reputation has made non-yielding assets like silver less attractive.

Geopolitical De-escalation: Recent indirect talks between the US and Iran in Oman have slightly reduced the safe-haven demand that fueled the January rally.

Industrial Demand vs Investment

Unlike gold, silver’s price is heavily influenced by its industrial utility. Currently, approximately 50-55 per cent of global silver demand stems from green technology sectors, including solar panels, electric vehicles (EVs), and AI infrastructure. Despite the recent price drop, long-term fundamentals remain supportive. The silver market is expected to remain in a physical deficit for the sixth consecutive year in 2026. However, in the near term, experts warn of "mean reversion risk," suggesting that while a recovery is possible, returns are likely to be more moderate than the triple-digit gains seen in 2025. Gold Rate Today, February 09, 2026: Check 22K & 24K Gold Prices in Delhi, Mumbai, Chennai and Other Cities.

What Investors Should Watch

As the Multi Commodity Exchange (MCX) continues its session today, investors are closely monitoring the INR 2,55,500 – INR 2,44,000 support range. A failure to hold these levels could invite further technical selling. Conversely, a sustained move back toward the INR 2,90,000 mark would signal that the bottom of the recent sell-off has been established.

(The above story first appeared on LatestLY on Feb 09, 2026 08:55 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).