Silver Prices Resume Decline After Brief Gain
Silver prices in India resumed their losing trend , following a short-lived rise earlier in the week. The dip comes amid global cues suggesting easing trade tensions between the United States and China, which softened the demand for precious metals as safe-haven assets.
On the Multi Commodity Exchange (MCX), December silver contracts closed 0.22% lower at ₹1,47,150 per kilogram on Friday, October 24. Similarly, MCX Gold December futures fell 0.16% to ₹1,23,255 per 10 grams.
As per the Indian Bullion and Jewellers Association (IBJA) data at 9:32 am on October 26, the price of Silver 999 Fine stood at ₹1,47,510/kg, while 24-carat gold was at ₹1,23,560/10 grams and 22-carat gold at ₹1,13,263/10 grams.
Long-Term Gains Despite Short-Term Dip
Despite the current decline, silver has shown strong resilience in recent years. The metal has consistently traded above the ₹1 lakh per kg mark for several months. In the long term, silver prices have surged by over 668% between 2005 and 2025, reflecting its sustained demand as both an investment and industrial commodity.
Gold, too, has seen remarkable growth. Prices have risen by over 1,200% in the past 20 years — from ₹7,638 per 10 grams in 2005 to more than ₹1,25,000 in 2025. Year-to-date, gold prices have climbed 56%, maintaining record highs and cementing gold’s status as a safe investment and inflation hedge.
City-Wise Silver and Gold Rates on October 26
Here’s a detailed look at city-wise bullion rates across India for Saturday, October 26:
Silver and Gold Prices in Ahmedabad
- Silver bullion: ₹1,47,440/kg
- MCX Silver 999: ₹1,47,150/kg
- Gold bullion: ₹1,23,500/10 gm
- MCX Gold: ₹1,23,255/10 gm
Silver and Gold Prices in Mumbai
- Silver bullion: ₹1,47,250/kg
- MCX Silver 999: ₹1,47,150/kg
- Gold bullion: ₹1,23,330/10 gm
- MCX Gold: ₹1,23,255/10 gm
Silver and Gold Prices in New Delhi
- Silver bullion: ₹1,46,990/kg
- MCX Silver 999: ₹1,47,150/kg
- Gold bullion: ₹1,23,120/10 gm
- MCX Gold: ₹1,23,255/10 gm
Silver and Gold Prices in Kolkata
- Silver bullion: ₹1,47,050/kg
- MCX Silver 999: ₹1,47,150/kg
- Gold bullion: ₹1,23,170/10 gm
- MCX Gold: ₹1,23,255/10 gm
Silver and Gold Prices in Chennai
- Silver bullion: ₹1,47,670/kg
- MCX Silver 999: ₹1,47,150/kg
- Gold bullion: ₹1,23,690/10 gm
- MCX Gold: ₹1,23,255/10 gm
Silver and Gold Prices in Bengaluru
- Silver bullion: ₹1,47,360/kg
- MCX Silver 999: ₹1,47,150/kg
- Gold bullion: ₹1,23,430/10 gm
- MCX Gold: ₹1,23,255/10 gm
Silver and Gold Prices in Hyderabad
- Silver bullion: ₹1,47,480/kg
- MCX Silver 999: ₹1,47,150/kg
- Gold bullion: ₹1,23,530/10 gm
- MCX Gold: ₹1,23,255/10 gm
Silver and Gold Prices in Pune
- Silver bullion: ₹1,47,250/kg
- MCX Silver 999: ₹1,47,150/kg
- Gold bullion: ₹1,23,330/10 gm
- MCX Gold: ₹1,23,255/10 gm
Market Outlook for Precious Metals
Experts suggest that global trade dynamics and the US dollar’s performance will continue to influence silver and gold prices in the coming weeks. If geopolitical risks ease further, investors may shift to riskier assets, putting short-term pressure on precious metals.
However, analysts maintain a bullish long-term outlook, noting that both silver and gold have historically provided stable returns during market volatility. Additionally, industrial demand for silver, especially from the renewable energy and electronics sectors, is expected to support prices over the medium term.
Investor Advisory
While silver’s decline may attract retail investors looking to buy at lower levels, experts recommend consulting certified financial advisors before making investment decisions. Prices often vary based on local taxes, GST, and jeweller markups, which can affect the retail cost.
Disclaimer: This article is for informational purposes only. The price data is sourced from the Indian Bullion and Jewellers Association (IBJA) and MCX. Investors should verify rates and consult certified professionals before investing.