Silver prices have surged by ₹9,573 to ₹2.74 lakh per kilogram today. This dramatic rise comes just two days after silver prices jumped by ₹14,038, highlighting a significant shift in the precious metal market. The rapid increase has sparked concern and interest among investors and consumers planning to purchase silver in the near future.
A Sharp Spike in Silver Prices
On February 4, 2026, silver prices crossed a new threshold, with the cost of one kilogram of silver hitting ₹2.74 lakh. This surge represents a ₹9,573 jump from previous prices, making it one of the most notable increases in recent months. The two-day rise of ₹14,038 reflects an ongoing trend in the precious metals market, with both gold and silver experiencing upward pressure.
Experts are attributing the sharp rise to a combination of global and local factors. A weakened Indian rupee against the U.S. dollar has significantly impacted the price of silver, making it more expensive in the domestic market. Additionally, rising geopolitical tensions and concerns over global inflation have led many investors to seek the safety of precious metals, further driving up demand for silver.
Global Factors Impacting Silver Prices
The primary drivers behind the surge in silver prices are global economic conditions. Silver, like gold, is often considered a “safe haven” asset during times of economic uncertainty. With inflation continuing to affect many economies and geopolitical tensions escalating, investors are looking to protect their wealth by investing in precious metals. This demand, especially from countries like India and China, has pushed silver’s value upwards.
Another key factor is the industrial demand for silver, which has seen steady growth over the years. Silver is used in a wide range of industries, including electronics, solar panels, and medical equipment, increasing its demand globally. As these sectors continue to expand, silver’s industrial use contributes to its price increase.
The Role of the Indian Rupee
The weakening of the Indian rupee has played a crucial role in the rising cost of silver. As the rupee depreciates against the U.S. dollar, the cost of imported goods, including precious metals, rises. Since India is one of the largest consumers of silver in the world, the country’s currency fluctuations have a direct impact on domestic silver prices. The rupee’s depreciation has made silver more expensive, contributing to the ongoing price hike.
Impact on Consumers and Investors
For Indian consumers, this sudden rise in silver prices may come as a shock. Silver has traditionally been a popular investment choice in India, especially for weddings, festivals, and as a store of value. With the prices soaring, many potential buyers may now hesitate, fearing that further price hikes could make silver even more expensive. Jewellers are already reporting a surge in demand, as customers rush to buy silver before prices increase further.
Investors in silver are also feeling the heat, with many looking to take advantage of the rising prices. However, the rapid increase has also sparked caution, with some wondering if the prices will continue to climb or if a correction is imminent.
What’s Next for Silver?
While it is difficult to predict the exact future of silver prices, experts suggest that the metal could continue to see upward movement in the short term. Global economic instability and the ongoing demand for precious metals as a hedge against inflation are expected to keep silver’s price elevated. However, if the global economy stabilises or if the Indian rupee strengthens, the surge in silver prices could slow down.
For now, investors and consumers alike are keeping a close eye on silver prices, as they wait to see how global and domestic factors will shape the future of the market.
