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Silver prices witnessed another sharp rise on Friday as geopolitical tensions in West Asia continued to influence global commodity markets. The precious metal has been experiencing strong volatility in recent weeks, and fresh buying pressure pushed domestic silver rates significantly higher in early trade.

According to market data, silver prices in Delhi’s bullion market jumped by ₹5,000 per kilogram before trading even began, taking the metal’s price to nearly ₹2,71,000 per kilogram. Meanwhile, futures prices on the Multi Commodity Exchange (MCX) also remained in positive territory during morning trade. Silver futures were trading around ₹2,74,919 per kilogram, slightly higher than the previous closing price of ₹2,74,883 per kilogram.

Silver Continues to Witness Massive Volatility

Bullion analysts believe that ongoing geopolitical uncertainty, fluctuations in the US dollar, and growing investor preference for safe-haven assets are supporting precious metal prices globally. Silver, which often reacts sharply to global risk sentiment, has remained highly volatile throughout 2026.

Although prices have corrected from their all-time highs, silver still remains significantly elevated compared to historical levels. On January 29, 2026, silver futures had touched a record high of ₹4,20,048 per kilogram on MCX, marking one of the strongest rallies ever seen in the domestic bullion market.

Domestic Silver Rates Rise Across Major Cities

According to bullion tracking platforms, retail silver prices have now climbed close to ₹2,85,000 per kilogram in many major Indian cities. Data from the Indian Bullion and Jewellers Association (IBJA) showed silver trading around ₹2,64,679 per kilogram on Friday morning, while retail rates remained higher due to taxes and local market premiums.

If you are planning to buy silver jewellery, coins, or investment bars, experts recommend checking local city-wise rates before making a purchase because prices can differ slightly depending on demand and regional taxes.

Latest Silver Prices in Major Indian Cities

International Silver Prices Show Mild Weakness

While domestic silver rates remained firm, international spot silver prices saw a slight decline during global trading sessions. Spot silver was trading near $75.39 per ounce, reflecting some profit-booking by investors after recent gains.

Despite the minor correction internationally, Indian silver prices continue to stay elevated because of currency fluctuations, import costs, and strong local demand.

Why Silver Prices Are Rising

Market experts point to several factors behind the recent rally in silver prices:

• Ongoing geopolitical tensions in West Asia
• Increased safe-haven buying by investors
• Volatility in the US dollar index
• Global inflation concerns
• Industrial demand for silver in electronics and renewable energy sectors

Silver is not only considered a precious investment metal but also a major industrial commodity. Rising industrial demand, especially in solar energy and electric vehicle manufacturing, continues to support long-term bullish sentiment for silver globally.

Should Buyers Purchase Silver Now?

Analysts say silver may continue to remain volatile in the near term due to uncertainty in global markets. Investors and jewellery buyers are being advised to monitor price movements carefully before making bulk purchases.

However, long-term investors still see silver as an attractive hedge against inflation and economic uncertainty, especially during periods of global instability.