Mumbai, February 20: Silver rates (silver prices) in India recorded a marginal increase on Friday, February 20, as the "white metal" continues its tentative recovery from a sharp sell-off earlier in the week. Following a massive INR 15,000 jump on Thursday, silver prices added another INR 100 per kilogram today, bringing the rate to INR 2,70,100 per kg. This stability follows a highly volatile month where prices plunged to a multi-month low of INR 2,55,000 just two days ago. Scroll below to check silver prices in major Indian cities like Delhi, Mumbai, Chennai, Hyderabad, Bengaluru, Ahmedabad, Kolkata, Pune, Kerala, and Vadodara.

Current Market Prices

According to the latest retail data, silver is trading uniformly across major Indian metropolitan cities. The slight uptick reflects a "buy-on-dips" sentiment among industrial users and retail investors. Gold Rate Today, February 20, 2026: Check 22K & 24K Gold Prices in Delhi, Mumbai, Chennai and Other Cities.

  • Silver per Gram: INR 270.10 (+INR 0.10)

  • Silver per 10 Grams: INR 2,701 (+INR 1.00)

  • Silver per Kilogram: INR 2,70,100 (+INR 100.00)

City-Wise Silver Rates As of February 20

While silver prices are generally standardised across India, minor differences can occur based on local taxes and transportation costs.

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

City Silver Price Today
Delhi INR 2,70,100
Mumbai INR 2,70,100
Chennai INR 2,70,100
Hyderabad INR 2,70,100
Bengaluru INR 2,70,100
Ahmedabad INR 2,70,100
Kolkata INR 2,70,100
Pune INR 2,70,100
Kerala INR 2,70,100
Vadodara INR 2,70,100

Factors Influencing Silver Prices

Several global and domestic factors are currently steering the silver market:

Safe-Haven Demand: Heightened tensions between the US and Iran have pushed investors toward precious metals as a hedge against geopolitical risk.

Industrial Demand: Growing use of silver in electric vehicles (EVs) and solar panels remains a long-term price driver, despite current short-term volatility.

Gold-Silver Ratio: The ratio remains elevated near 90:1, suggesting that while silver is recovering, it is still trading at a significant discount compared to gold’s recent record highs. Silver Rate Today, February 19, 2026: Check Latest Prices of White Metal in Delhi, Mumbai, Chennai, and Other Major Cities.

Market Context: A Volatile February

The current price of INR 2.70 lakh per kg is part of a broader recovery phase. Silver began February at a peak of INR 3.50 lakh, fueled by Middle East tensions, but witnessed a relentless crash, dropping nearly 23 per cent by mid-month. The recent surge is attributed to a "liquidity vacuum" caused by the Lunar New Year holidays in China (February 16-24), which has temporarily removed the world's largest physical buyer from the market, leading to exaggerated price swings.

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(The above story first appeared on LatestLY on Feb 20, 2026 08:52 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).