Silver Prices Dip on Feb 26 After Recent Surge — Check Latest Rates Across Major Indian Cities
Silver prices saw a mild decline on the morning of February 26, offering slight relief to buyers after a recent rally in the bullion market. The rate of silver fell by about ₹100 per kilogram, bringing the price to roughly ₹2,84,900 per kg in most major Indian markets. The small drop comes just a day after a sharp jump in prices, highlighting ongoing volatility in precious metals.
Market analysts say such fluctuations are being driven by a mix of global economic uncertainty, currency movements, and investor sentiment toward safe-haven assets.
Silver Rate Movement: What Changed Today
On Thursday morning, domestic bullion markets reflected a modest softening trend. After touching higher levels earlier in the week, silver prices eased slightly, though they still remain elevated compared to recent averages.
In the previous session, silver had surged significantly, rising by nearly ₹5,900 per kg in some markets. That spike pushed prices close to ₹2,77,900 per kg before the latest adjustment. Despite today’s dip, traders say the overall trend in precious metals remains sensitive to global developments.
Internationally, silver’s spot price hovered around $90.30 per ounce, indicating that global demand for the metal remains strong.
Global Factors Influencing Silver Prices
Recent price movements are closely tied to worldwide economic signals. Investors have been shifting toward traditionally safer investment options such as precious metals due to uncertainty surrounding trade tariffs and geopolitical developments.
Market watchers are particularly focused on policy signals from the Federal Reserve. The minutes from its latest meeting are expected to provide clues about the future direction of interest rates. Historically, expectations of rate hikes or cuts have had a direct impact on bullion prices. Lower interest rate expectations typically support precious metals because they reduce the opportunity cost of holding non-interest-bearing assets like silver.
Investor caution has also increased following reactions from political leaders, including statements linked to Donald Trump regarding trade and tariffs. Such developments often influence commodity markets worldwide.
Recent High Levels and Market Outlook
According to a recent report from Augmont, silver recently touched a three-week high in international markets. The report notes that prices have already climbed near $85 per ounce and, if momentum continues, could move into the $90–$92 range in the near term.
Earlier this year, silver briefly crossed the ₹4 lakh per kilogram mark in domestic markets, reflecting extreme volatility. Since then, prices have corrected but continue to fluctuate based on global demand, currency strength, and macroeconomic signals.
Latest Silver Prices in Major Indian Cities (Feb 26)
Current retail bullion rates per kilogram:
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Delhi — ₹2,84,900
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Mumbai — ₹2,84,900
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Ahmedabad — ₹2,84,900
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Chennai — ₹2,95,100
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Kolkata — ₹2,84,900
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Hyderabad — ₹2,84,900
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Jaipur — ₹2,84,900
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Bhopal — ₹2,84,900
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Lucknow — ₹2,84,900
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Chandigarh — ₹2,84,900
Chennai continues to trade at a premium compared to most other cities, a pattern often seen due to local demand differences, taxes, and logistics costs.
Long-Term Precious Metal Outlook
Financial institutions remain optimistic about precious metals over the long term. Analysts at JP Morgan recently projected that gold could reach $4,500 per ounce in the coming years, a forecast that has indirectly boosted sentiment in the silver market as well. Silver often follows gold’s trajectory because both are viewed as safe-haven assets during uncertain economic periods.
What Investors Should Watch Next
Experts suggest keeping an eye on three major factors that could influence silver prices in the coming weeks:
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Central bank interest rate signals
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Global trade and tariff developments
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Currency fluctuations, especially the US dollar
Any major shift in these areas can trigger rapid price changes in bullion markets.
Bottom Line: Silver prices slipped slightly on February 26 after a recent surge, but overall market sentiment remains cautious yet optimistic. With global uncertainty still shaping investment trends, the metal is likely to remain volatile in the near term. Buyers and investors should monitor international cues closely before making decisions.
