Mumbai, January 12: The silver rate in India took a dip on Monday, January 12, 2026, with the national average hitting approximately INR 2,59,900 per kilogram. In several southern markets, including Chennai and Hyderabad, retail prices have climbed even higher, touching the INR 2,74,900 mark. Check the current silver rates in major Indian cities like Delhi, Mumbai, Chennai, Hyderabad, Bengaluru, Ahmedabad, Kolkata, Pune, Kerala, and Vadodara.

This dip is part of an aggressive rally fueled by a combination of global geopolitical tensions and a structural supply deficit. As investors move away from traditional currencies amidst global uncertainty, silver has emerged as a preferred asset for both industrial utility and investment hedging. MCX Silver Price To Hit INR 3.20 Lakh in 2026 Following 170% Rally in 2025, Forecasts Motilal Oswal.

Silver Rates Today: January 12, 2026 (Per Kilogram)

City Silver Price Today
Delhi INR 2,59,900
Mumbai INR 2,59,900
Chennai INR 2,74,900
Hyderabad INR 2,74,900
Bengaluru INR 2,59,900
Ahmedabad INR 2,59,900
Kolkata INR 2,59,900
Pune INR 2,59,900
Kerala INR 2,59,900
Vadodara INR 2,59,900

Despite the current peak, many analysts believe the rally has further room to run. Commodity experts suggest that if silver maintains its support level above INR 2,50,000, the next psychological target could be INR 3,00,000 per kg before the end of the first quarter. Silver Rate Today, January 11, 2026: Check Latest Prices in Delhi, Mumbai, Chennai, and Other Major Cities.

However, retail buyers are advised to be cautious. The market has shown extreme volatility, with intraday swings of up to INR 10,000 not uncommon in the current economic climate. For those looking to enter the market, "buying on dips" remains the recommended strategy to mitigate the risk of a sudden correction.

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(The above story first appeared on LatestLY on Jan 12, 2026 08:39 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).