Silver rates in India crashed significantly, sending a shockwave towards metal stocks and commodity market on January 30. 1Kg silver dropped for the first time in five days, with price pulling back from Rs 4 lakh mark. However, in cities like Chennai, Hyderabad and Kerala, silver is still priced above Rs 4 lakh per 1Kg. The reason behind the latest sharp downfall in silver is due to profit booking and substantial rebound in dollar.
1Kg silver price tumbled by Rs 15,000 to Rs 3,95,000 on January 30, while 100 grams and 10 grams silver dipped by Rs 1,500 and Rs 150 to Rs 39,500 and Rs 3,950 respectively. Despite the latest decline, silver rates are still on the path to give more than 65% returns in January 2026.