Silver prices in India experienced a significant correction on Tuesday, December 30, extending the downward trend from the previous trading session. The precious metal, which had been on a record-breaking rally for most of the year, saw a notable decline in value across major bullion markets.
Sharp Decline in Silver Prices
The price of silver fell by ₹18 per gram in today's trading. This translates to a substantial drop of ₹18,000 per kilogram. Consequently, the white metal is now trading at ₹240 per gram, while the price for one kilogram stands at ₹2,40,000.
This decline follows a period of exceptional performance where silver had consistently outperformed gold throughout the year. In the last eleven months alone, the value of silver had doubled, reaching an all-time high of ₹2.6 lakh per kg. However, the market has now entered a corrective phase, with prices softening for two consecutive days.
Silver Rates Across Major Indian Cities
The price of silver varies slightly from city to city due to factors like local taxes, transportation, and demand. Here is a snapshot of the silver rates for 10 grams, 100 grams, and 1 kilogram in key Indian cities as of December 30.
In cities like Mumbai, Delhi, Kolkata, Bangalore, Pune, Ahmedabad, and Jaipur, the price for 10 grams of silver is ₹2,400. For 100 grams, it is ₹24,000, and the rate for one kilogram is ₹2,40,000.
In Chennai, Hyderabad, Kerala, and Bhubaneswar, the prices are slightly higher. Here, 10 grams of silver cost ₹2,580, 100 grams are priced at ₹25,800, and one kilogram is valued at ₹2,58,000.
Market Context and Outlook
The recent dip marks a pause in silver's meteoric rise in 2025. After being overshadowed by gold's spotlight for much of the year, silver staged a remarkable comeback, registering considerable gains. Today's price adjustment is viewed by market analysts as a healthy correction after the sustained rally.
Investors and consumers tracking the bullion market are closely watching these movements. The price volatility underscores the dynamic nature of commodity markets. While the long-term trend for silver has been strongly positive, short-term fluctuations are common based on global cues, currency movements, and domestic demand.
For those looking to buy or sell silver jewellery, coins, or bars, checking the daily rate is crucial, as prices can change significantly within a single trading session. The current rates provide a more favorable entry point for buyers compared to the peak levels seen recently.
