New Delhi, January 2: Silver prices in India remained largely unchanged on Friday, January 2, 2026, maintaining a steady trend as the first full trading week of the New Year commenced. Following a year of extreme price swings and record highs in 2025, the white metal showed minimal movement in early trade today. Check silver rate today, January 2, in Delhi, Mumbai, Chennai, Hyderabad, Bengaluru, Ahmedabad, Kolkata, Pune and other cities below.

As per latest data, the silver rate in India today stood at INR 2,37,900 per kilogram. For smaller quantities, 100 grams of silver is priced at INR 23,790, while 10 grams of the metal is retailing at INR 2,379. It is important to note that final retail prices at jewellery showrooms may vary depending on local taxes, GST, and making charges. Silver Rate Today, January 1, 2026: Check Latest Prices in Delhi, Mumbai, Chennai and Other Major Cities as White Metal Starts New Year on Stable Note.

Silver Rates Today: January 2, 2026 (Per Kilogram)

City Silver Price Today
Delhi INR 2,37,900
Mumbai INR 2,37,900
Chennai INR 2,55,900
Hyderabad INR 2,55,900
Bengaluru INR 2,37,900
Ahmedabad INR 2,37,900
Kolkata INR 2,37,900
Pune INR 2,37,900
Kerala INR 2,55,900
Vadodara INR 2,37,900

Consolidation Amid Record-High Momentum

The current price stability follows a period of intense volatility as the market entered 2026. Earlier this week, silver futures on the Multi Commodity Exchange (MCX) hovered near record highs, testing levels above INR 2,54,000 per kilogram before facing a sharp intraday correction due to aggressive profit-booking.

As of today, physical silver prices in Delhi and other major hubs continue to fluctuate above the INR 2.37 lakh per kg mark. This positioning reflects a broader market transition from the explosive "melt-up" seen recently to a more sustainable consolidation phase. The white metal currently maintains its status as one of the world's most valuable assets, frequently outperforming major equities and other precious metals in year-on-year growth.

What is Influencing Silver Prices Today?

Market experts attribute the current firm standing of the silver rate to several key factors as we move into 2026. Silver Rate Today, December 31, 2025: Check Latest Prices in Delhi, Mumbai, Chennai and Other Major Cities As White Metal Edges Down on New Year’s Eve.

  • Industrial Super-Cycle: Massive demand from the green energy sector, specifically for solar panels (PV cells), electronics, and the electric vehicle (EV) revolution, continues to create a structural supply deficit. 

  • Global Supply Constraints: Export restrictions, particularly new licensing requirements from major producers like China effective January 1, are tightening global availability.

  • Safe-Haven Interest: Ongoing geopolitical tensions and uncertainties in global trade continue to support investor interest in bullion as a protective hedge.

  • Monetary Policy: Market participants are closely watching for US Federal Reserve interest rate signals, as silver historically performs well during easing cycles.

The All India Sarafa Association notes that while silver has displayed superior momentum compared to gold, the current environment of heightened volatility suggests a period of sideways movement in early 2026. Long-term fundamentals tied to industrial scarcity remain supportive, though analysts suggest that further profit-taking could occur in the near term as investors recalibrate their portfolios for the new year.

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(The above story first appeared on LatestLY on Jan 02, 2026 08:57 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).