New Delhi: Silver prices in India are witnessing a session of extreme contrast on Monday, January 19, 2026. While the physical (spot) market opened with a marginal dip, offering a window for buyers, the futures market is signaling a different story with high volatility.
Daily Market Update
The spot price of 1 kg of silver in retail markets stands at ₹2,94,900, recording a dip of ₹100 from yesterday’s rate. However, traders are advised to remain cautious as the MCX (Multi Commodity Exchange) futures have shown bullish trends, briefly testing historic highs.
Retail buyers should note that prices vary significantly from city to city due to local taxes and transportation costs. Southern cities like Chennai and Hyderabad continue to trade at a premium compared to Mumbai and Delhi.
Silver Rates in India (Jan 19, 2026)
Standard rates excluding GST and making charges.
| Weight | Today’s Price | Yesterday’s Price | Change |
| 1 Gram | ₹294.90 | ₹295.00 | ▼ ₹0.10 |
| 8 Grams | ₹2,359.20 | ₹2,360.00 | ▼ ₹0.80 |
| 10 Grams | ₹2,949.00 | ₹2,950.00 | ▼ ₹1.00 |
| 100 Grams | ₹29,490.00 | ₹29,500.00 | ▼ ₹10.00 |
| 1 Kg | ₹2,94,900 | ₹2,95,000 | ▼ ₹100 |
City-Wise Silver Rates (Per Kg)
Check the rate differences below. Southern India sees higher rates today.
| City | Silver Price (Per Kg) |
| Chennai | ₹3,09,900 |
| Mumbai | ₹2,94,900 |
| New Delhi | ₹2,94,900 |
| Kolkata | ₹2,94,900 |
| Bangalore | ₹2,94,900 |
| Hyderabad | ₹3,09,900 |
| Pune | ₹2,94,900 |
| Ahmedabad | ₹2,94,900 |
| Jammu & Kashmir* | ~₹2,95,500 (Est.) |
(Note: Rates in J&K/Srinagar may vary. Please consult local sarrafa bazaars in Hari Singh High Street or Jain Bazar for spot prices.)
Key Highlights:
- Spot Trend: Bearish (Down by ₹100/kg).
- Futures Trend: Highly Volatile (Testing ₹3 Lakh levels).
- Cheapest Markets: Mumbai, Delhi, Kolkata, Bangalore.
- Most Expensive: Chennai, Hyderabad (₹15,000 higher per kg).
Why the Fluctuation?
While spot prices saw a marginal dip at the opening, the futures market (MCX) is signaling high volatility, with trading levels briefly touching the historic ₹3 Lakh mark intraday due to global geopolitical tensions. A strengthening Rupee against the Dollar is currently keeping domestic spot prices in check, but the gap between spot and futures suggests potential price correction soon.
Frequently Asked Questions (FAQ)
A: As of January 19, 2026, the spot price of 1kg silver is ₹2,94,900 in Delhi and Mumbai.
A: With spot prices dipping slightly, it is a decent time for small purchases. However, given the MCX volatility, bulk buyers should wait for the market to stabilize.
A: Precious metal prices in southern states like Tamil Nadu often include higher logistics costs and local demand premiums, making them more expensive than in northern trading hubs.
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AUTHORSHIP & TRANSPARENCY
- Reported by: Kitto Business Desk | Edited by: Senior Desk
- Source Transparency: Data sourced from GoodReturns and MCX market aggregates as of 11:00 AM, Jan 19, 2026.
- Disclaimer: KittoNews provides these rates for informational purposes only. Readers are advised to verify exact rates with their local jeweller before making any purchase.
- Accountability: Found an error? Email kittonews@gmail.com.
