Madurai, February 18: Silver rates (silver prices) in Madurai saw a notable decline on Wednesday, February 18, aligning with a broader cooling trend in the global commodities market. The retail price for silver in the temple city was recorded at INR 260 per gram, marking a drop of INR 5 from the previous day’s rate of INR 265. On a larger scale, the price for one kilogram of silver stood at INR 2,60,000, reflecting a substantial daily decrease of INR 5,000. Scroll below to see the prices of silver in Madurai.

Current Silver Rates in Madurai

The following table provides a breakdown of today's silver prices in Madurai across different quantities:

Quantity Today's Price (Feb 18) Price Change
1 Gram INR 260 -INR 5
8 Grams INR 2,080 - INR 40
10 Grams INR 2,600 -INR 50
100 Grams INR 26,000 -INR 500
1 Kilogram INR 2,60,000 -INR 5,000

Market Trends and Monthly Context

The current dip represents the lowest price point for silver in Madurai so far this February. After reaching a peak of approximately INR 3,20,000 per kg on February 1, the metal has entered a period of sharp correction. Silver Rate Today, February 18, 2026: Check Latest Prices of White Metal in Delhi, Mumbai, Chennai, and Other Major Cities.

Local analysts point out that while January 2026 saw an unprecedented surge of nearly 47% in silver value, February has been characterised by high volatility. To date, silver prices have fallen by approximately 18.75 per cent within this month alone, primarily due to profit-booking by investors and a stabilisation of geopolitical tensions that had previously driven safe-haven buying.

Factors Influencing Local Prices of Silver

Several global and domestic factors are currently weighing on the silver market:

Global Industrial Demand: As an essential component in solar panels and electronics, silver remains sensitive to industrial production cycles. Recent shifts in the tech sector have led to a temporary cooling in demand.

Currency Fluctuations: The USD-INR exchange rate continues to play a critical role, as silver is imported into India in US dollars.

Gold Correlation: Silver traditionally follows the price movement of gold. With gold prices also facing resistance near the INR 1,56,000 per 10g mark in the local market, silver has seen a proportional pullback. Gold Rate Today, February 18, 2026: Check 22K & 24K Gold Prices in Delhi, Mumbai, Chennai and Other Cities.

Advice for Consumers

For residents in Madurai looking to purchase silver for the upcoming wedding season or as an investment, experts suggest monitoring the Multi-Commodity Exchange (MCX) trends. While the current price of INR 260/g is attractive compared to early-month highs, buyers are reminded that retail purchases in Madurai are subject to a three per cent Goods and Services Tax (GST) and varying making charges, which typically range from 5 per cent to 15 per cent depending on the intricacy of the jewellery or articles.

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(The above story first appeared on LatestLY on Feb 18, 2026 11:33 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).