Silver prices in India tumbled over ₹1.6 lakh from recent peaks, sparking debate on whether the correction is temporary or part of a broader trend. On February 11, 2026, city-wise rates show volatility across major markets, with global cues and rupee fluctuations driving domestic pricing.
Market Movement
Silver surged past ₹3 lakh/kg earlier this month but corrected sharply to around ₹2.52 lakh/kg on February 11, 2026. This marks one of the steepest declines in recent weeks, erasing gains and raising investor caution.
City-Wise Rates
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Delhi & Mumbai: Around ₹300 per gram, ₹3,00,000 per kg before correction.
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Jaipur: Slightly lower at ₹289.90 per gram, ₹2,89,900 per kg.
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Chennai: Hovering near ₹3,00,000 per kg, reflecting national averages.
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Hyderabad: Witnessed marginal declines, mirroring broader market volatility.
Drivers of Volatility
Global silver prices, currency fluctuations, and investor sentiment are key factors. A weaker rupee against the US dollar amplifies domestic price swings, while geopolitical tensions and demand for industrial silver add to uncertainty.
Investor Outlook
Analysts suggest the correction may be short-term profit-taking rather than a structural decline. However, volatility remains high, and buyers are advised to track daily rates before making purchases.
Outlook
Silver’s sharp fall from its peak highlights the fragility of current market sentiment. While long-term fundamentals remain strong due to industrial demand and global investment flows, near-term corrections are likely. Investors should balance caution with opportunity, monitoring city-wise rates and global cues closely.
Sources: News24 Business, Goodreturns, OneIndia News, Economic Times, Reuters