Mumbai, February 23: The silver rate in India showcased stability on Monday morning, February 23, following a period of extreme price swings that saw the white metal fluctuate by nearly INR 40,000 per kilogram in a single week. Scroll below to check silver prices in major Indian cities like Delhi, Mumbai, Chennai, Hyderabad, Bengaluru, Ahmedabad, Kolkata, Pune, Kerala, and Vadodara.

The market is in a consolidation phase as investors digest global economic cues and a significant rebound that occurred late last week. While major metropolitan hubs like Mumbai and Delhi saw prices hold steady, southern cities and Kerala reported a notable premium. In Chennai and Hyderabad, silver is retailing at INR 2,89,900 per kg, a gap of INR 15,000 compared to the national capital. Gold Rate Today, February 23, 2026: Check 22K & 24K Gold Prices in Delhi, Mumbai, Chennai and Other Cities.

City-Wise Silver Rates As of February 23

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 23, 2026 (Per Kilogram)

City Silver Price Today
Delhi INR 2,74,900
Mumbai INR 2,74,900
Chennai INR 2,89,900
Hyderabad INR 2,89,900
Bengaluru INR 2,74,900
Ahmedabad INR 2,74,900
Kolkata INR 2,74,900
Pune INR 2,74,900
Kerala INR 2,74,900
Vadodara INR 2,74,900

Silver Rate Today: Market Dynamics and Global Cues

The current price stability follows a dramatic recovery. Earlier in February, silver prices reached a monthly peak of INR 3,50,000 per kg before crashing to a low of INR 2,55,000 on February 18 due to aggressive profit booking. The recent climb back to the INR 2.75 lakh level is attributed to a weaker US Dollar and fresh safe-haven buying triggered by the US Supreme Court's decision to strike down certain tariff policies. Silver Rate Today, February 22, 2026: Check Latest Prices of White Metal in Delhi, Mumbai, Chennai, and Other Major Cities.

In the international market, spot silver has been trading near USD 82 per ounce. Domestically, the Multi Commodity Exchange (MCX) March futures showed a strong advance, reflecting robust buying interest at lower levels.

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(The above story first appeared on LatestLY on Feb 23, 2026 08:50 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).