Mumbai, February 1: Silver prices in India traded largely steady with a slight upward bias on Sunday, February 1, 2026, after easing from record highs in the previous session. Following profit booking earlier this week, the white metal continued to consolidate at elevated levels, supported by firm global cues, safe-haven demand and consistent industrial consumption. Check the silver rates today in major Indian cities like Delhi, Mumbai, Chennai, Hyderabad, Bengaluru, Ahmedabad, Kolkata, Jaipur, Lucknow, and Noida.

Traders said silver prices are consolidating after last week’s strong rally, with buyers turning cautious at elevated levels. Despite minor day-to-day fluctuations, sentiment around the white metal remains supported by firm global trends and steady industrial demand, keeping prices near recent highs. Silver Rate Today, January 31, 2026: Check Latest Prices of White Metal in Delhi, Mumbai, Chennai, and Other Major Cities.

Market participants remained cautious amid ongoing global economic uncertainty and volatility across commodity markets. While silver prices in most northern and western Indian cities hovered just below the INR 4 lakh per kg mark, southern markets continued to trade at a premium due to stronger local demand and regional factors. Silver, Gold Prices Plummet as Aggressive Profit Booking Triggers Sharp Correction After Historic Rally.

Silver Rates for February 1, 2026 (1 Kg)

City Silver Rate (1 Kg)
Chennai INR 4,06,200
Hyderabad INR 4,06,200
New Delhi INR 3,96,200
Mumbai INR 3,96,200
Kolkata INR 3,96,200
Bengaluru INR 3,96,200
Noida / Ghaziabad INR 3,96,200
Gurugram INR 3,96,200
Ahmedabad INR 3,96,200
Jaipur INR 3,96,200
Lucknow INR 3,96,200
Bhopal INR 3,96,200
Jodhpur INR 3,96,200
Srinagar* INR 3,91,500

Note: Silver rates are indicative and exclude GST, TCS and other applicable levies. Local market prices may vary slightly.

Despite the recent consolidation, silver prices on February 1, 2026, remained well above average monthly levels, reflecting sustained investor interest in precious metals. Analysts say global macroeconomic cues, inflation expectations, currency movements and industrial demand trends will play a key role in determining whether silver resumes its upward momentum or continues to trade sideways in the near term.

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(The above story first appeared on LatestLY on Feb 01, 2026 08:21 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).