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Silver prices in your city today, 1 February: Silver prices have slumped by over ₹1 lakh in two days as commodity prices took a hit at the Indian and global markets amid a selloff in the broader metal markets.

Silver prices crashed more than 36% on Friday, a record intraday decline as a silver price crash was triggered amid strong US dollar after Donald Trump nominated Kevin Warsh as the new Fed Chair. On Saturday, it further crashed 9% on the MCX as trading opened on Budget 2026 day.

MCX silver price today crashed 9% to trade at ₹2,65,652 at 9:30 am. This was down by almost ₹30,000 as compared to last session's close.

In the physical retail market, the silver price today in Delhi for 10 gm coins is ₹2,655. Silver rate today in Delhi for 100 gm coin is ₹26,554, and silver rate today in Delhi for 1 kg bar is ₹2,65,540, according to data from bullions.co.in.

As of 10 am on 1 February, silver rates in different Indian cities were as follows:

1. Silver rate today in Delhi: ₹2,431 for 10 gm, ₹24,315 for 100 gm, ₹2,65,540 for 1 kg

2. Silver rate today in Jaipur: ₹2,659 1 for 10 gm, ₹26,596 for 100 gm, ₹2,65,960 for 1 kg

3. Silver rate today in Mumbai: ₹2,659 for 10 gm, ₹26,599 for 100 gm, ₹2,65,990 for 1 kg

4. Silver rate today in Kolkata: ₹2,656 for 10 gm, ₹26,564 for 100 gm, ₹2,65,640 for 1 kg

5. Silver rate today in Chennai: ₹2,632 for 10 gm, ₹26,328 for 100 gm, ₹2,66,770 for 1 kg

6. Silver rate today in Bengaluru: ₹2,662 for 10 gm, ₹26,620 for 100 gm, ₹2,66,200 for 1 kg

7. Silver rate today in Hyderabad: ₹2,716 for 10 gm, ₹27,167 for 100 gm, ₹2,71,670 for 1 kg

8. Silver rate today in Nashik: ₹2,712 for 10 gm, ₹27,124 for 100 gm, ₹2,71,240 for 1 kg

9. Silver rate today in Rajkot: ₹2,665 for 10 gm, ₹26,658 for 100 gm, ₹2,66,580 for 1 kg

10. Silver rate today in Pune: ₹2,712 for 10 gm, ₹27,125 for 100 gm, ₹2,71,240 for 1 kg

(Data from bullions.co.in.)

Traders said the steep correction in silver prices today was driven by aggressive unwinding of long positions amid volatility in global markets and cautious investor sentiment ahead of the presentation of the Union Budget.

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