Silver Price Today: Silver continues to get cheaper; price slips below ₹1.95 lakh..
Silver Price Today: There has been a sharp decline in silver prices. On the Multi Commodity Exchange (MCX), the futures price of silver fell by 2.57%—a decrease of ₹5,133—to reach ₹1,94,466 per kilogram. In the previous trading session, silver had closed at ₹1,99,599 per kilogram. According to bullion market data, the price of silver stood at ₹2,00,380 per kilogram, while in the international market, it reached $54.52 per ounce.
According to the All India Bullion Association, silver prices in the Delhi bullion market dropped to a 10-month low of ₹2,07,500 per kilogram. Previously, on December 18, 2025, the price of silver was ₹207,600 per kilogram. Meanwhile, according to GoodReturns, the price of silver has fallen to ₹2,25,000 per kilogram.
How much did prices fall in the international market?
In the international market—specifically on the COMEX—both gold and silver saw a decline on October 23. Around 9:00 AM, the price of gold on the COMEX fell by 0.78%, reaching $4,000.80 per ounce. Simultaneously, the price of silver on the COMEX dropped by 1.84%, trading at $53.995 per ounce. Let’s take a look at the latest silver prices in major Indian cities as of October 21, according to data from Goodreturns:
City Price of 1 kg of Silver
Delhi ₹ 2,24,900
Mumbai ₹ 2,24,900
Kolkata ₹ 2,24,900
Chennai ₹ 2,24,900
Lucknow ₹ 2,24,900
Patna ₹ 2,24,900
Jaipur ₹ 2,24,900
Ahmedabad ₹ 2,24,900
Pune ₹ 2,24,900
Bengaluru ₹ 2,24,900
Hyderabad ₹ 2,24,900
Bhopal ₹ 2,24,900
Chandigarh ₹ 2,24,900
Noida ₹ 2,24,900
Gurugram ₹ 2,24,900
Why are silver prices falling?
The recent decline in precious metals comes amidst shifting expectations regarding US interest rates. Rising crude oil prices have reignited concerns about inflation, strengthening the possibility that the US Federal Reserve might hike interest rates again before the end of the year. These concerns have weighed on precious metals this week.
This weakness was also observed in international bullion markets. During the session on October 23, the price of gold on Comex fell by approximately 0.6% to $4,037.60 per ounce, while the price of silver hovered around $54.60 per ounce.
These international developments reflect a broader situation where the market is grappling with uncertainty surrounding inflation expectations and the future direction of US monetary policy.
What should those buying jewellery keep in mind?
The recent decline in gold prices may catch the attention of those considering the purchase of jewellery. However, the market volatility witnessed over the past week highlights the importance of checking prices before making a purchase.
The price of gold is only one component when buying jewellery. Before making any decision, customers should verify the purity of the metal, check for hallmarking, consider the making charges, and confirm the total amount to be paid.
For those waiting to see if prices will fall further, it is worth noting that recent data does not provide a clear indication of how the prices of gold or silver might change in the near future.
Disclaimer: This content has been sourced and edited from Money Control. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
