Silver Prices Slide: January 31 Update Shows ₹1.28 Lakh Fall From Peak

Silver markets in India witnessed one of the steepest corrections in recent months. After touching an all-time high earlier this week, prices have cooled significantly, reflecting global market pressures and domestic profit booking. Despite the fall, silver remains well above its early January levels, underscoring continued investor interest.

Key Highlights:

• Peak Price (Jan 29, 2026): ₹4,20,048 per kg.
• Current Price (Jan 31, 2026): ₹3.85–₹3.95 lakh per kg.
• Decline: ₹1.28 lakh from peak within two days.

City-wise Rates:

• Mumbai: ~₹3.92 lakh/kg
• Delhi: ~₹3.90 lakh/kg
• Chennai: ~₹3.88 lakh/kg
• Bengaluru: ~₹3.89 lakh/kg
• Hyderabad: ~₹3.91 lakh/kg
   
• Drivers of Volatility: Global liquidity concerns, speculative trading, and rupee-dollar fluctuations.
• Investor Outlook: Analysts expect consolidation before the next rally, with industrial demand and wedding season supporting prices.

Silver’s sharp correction highlights the importance of monitoring global cues, as domestic bullion markets remain highly sensitive to international trends.

Sources: The Economic Times, Times Now, Business Connect Magazine, Sacnilk Bullion Reports