New Delhi, January 26: Silver rates (Silver prices) in India remained largely unchanged on Monday, January 26, holding firm at historic highs as the country celebrates Republic Day today. With domestic commodity exchanges, including the Multi-Commodity Exchange (MCX), closed for the national holiday, retail silver rates in major cities stayed consistent with the weekend’s closing figures. In the national capital, silver is currently trading at approximately INR 3,34,900 per kilogram, reflecting a massive year-to-date surge driven by global industrial demand and geopolitical uncertainty. Scroll below to check silver prices in major Indian cities like Delhi, Mumbai, Chennai, Hyderabad, Bengaluru, Ahmedabad, Kolkata, Pune, Kerala, and Vadodara.

Market Consolidation After Record Volatility

The stability observed on January 26 comes after a period of intense price swings. Earlier in the month, silver witnessed a historic rally, at one point gaining nearly INR 38,000 per kilogram in just five days. While a minor correction of about 1 per cent occurred late last week, the "white metal" continues to outperform many other assets in 2026, boasting returns of over 35 per cent in the first few weeks of the year alone. Silver Rate Today, January 25, 2026: Check Latest Prices of White Metal in Delhi, Mumbai, Chennai and Other Major Cities.

Analysts suggest that while profit-taking has slowed the immediate ascent, the underlying "supercycle" remains intact. Industrial demand for silver - essential for green technologies, electric vehicles, and AI hardware - is competing with strong investor interest in safe-haven assets.

City-Wise Silver Rates As of January 26, 2026

Prices vary across the country due to local taxes and demand. Notably, southern markets like Chennai and Hyderabad continue to command a significant premium over the national average.

Silver Rates Today As of January 26, 2026 (Per Kilogram)

City Silver Price Today
Delhi INR 3,34,900
Mumbai INR 3,34,900
Chennai INR 3,64,900
Hyderabad INR 3,64,900
Bengaluru INR 3,34,900
Ahmedabad INR 3,34,900
Kolkata INR 3,34,900
Pune INR 3,34,900
Kerala INR 3,64,900
Vadodara INR 3,34,900

Factors Driving the Surge of White Metal

The current pricing environment is influenced by a "perfect storm" of global events. Safe-haven buying has escalated due to trade tensions and geopolitical shifts, including recent tariff threats and Arctic diplomacy. Additionally, a drop in the Gold/Silver ratio - which fell from 82 to 58 this month - has made silver an increasingly attractive alternative to gold for retail investors. Domestic demand also remains high due to the ongoing wedding season, though some jewellers report that the extreme price point is causing a shift from physical bullion toward Silver ETFs (Exchange Traded Funds), which have delivered returns exceeding 25 per cent this month. Gold Rate Today, January 26, 2026: Check 22K & 24K Gold Prices in Delhi, Mumbai, Chennai and Other Cities.

Outlook for the Week

Traders are looking toward Tuesday, January 27, when the MCX reopens for regular trading. Market experts warn that while the long-term trend is bullish, high volatility is expected to persist. Immediate resistance is seen at the INR 3.40 lakh mark, and any further escalation in international trade disputes could push the metal toward the psychological milestone of USD 100 per ounce in the global market.

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(The above story first appeared on LatestLY on Jan 26, 2026 08:51 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).