Silver prices continued to decline for the second consecutive day during the festive season of Navratri, offering some relief to buyers. On Friday, March 20, 2026, the price of silver dropped by up to ₹5,000 per kilogram compared to the previous day, following a similar decline observed on Thursday.
This consistent fall has caught the attention of both investors and jewellery buyers, especially at a time when precious metals usually see increased demand.
In the bullion market of Delhi, silver is currently trading at around ₹2,55,000 per kilogram. Similar price levels are being observed in northern and western regions, including Mumbai, Rajasthan, Uttar Pradesh, and Madhya Pradesh.
However, in southern markets such as Chennai and Hyderabad, silver prices are slightly higher, hovering around ₹2,64,900 per kilogram.
Delhi: ₹2,55,000/kg
Mumbai: ₹2,55,000/kg
Ahmedabad: ₹2,55,000/kg
Kolkata: ₹2,55,000/kg
Jaipur: ₹2,55,000/kg
Bhopal: ₹2,55,000/kg
Lucknow: ₹2,55,000/kg
Chandigarh: ₹2,55,000/kg
Chennai: ₹2,64,900/kg
Hyderabad: ₹2,64,900/kg
Prices may vary slightly due to local taxes and market demand.
Despite ongoing geopolitical tensions, silver prices have softened instead of rising. Here are the key reasons:
Currently, higher supply levels and relatively weaker demand are putting downward pressure on prices.
The ongoing geopolitical situation, particularly in the Middle East, has created volatility. However, unlike typical trends where precious metals surge during uncertainty, silver is not witnessing strong safe-haven demand right now.
Investors are showing caution due to fluctuating global cues, including currency movements and interest rate expectations.
Experts believe that silver prices may continue to fluctuate in the coming days. The global situation remains uncertain, and any changes in geopolitical or economic conditions could quickly impact prices.
While festive demand may provide some support, broader market trends will play a decisive role in determining price direction.
The recent dip could be an opportunity for:
Jewellery buyers planning festive purchases
Long-term investors looking to enter at lower levels
However, given the ongoing volatility, experts recommend investing cautiously and avoiding large lump-sum purchases.
Silver prices have softened during Navratri, declining for the second straight day. While this offers short-term relief to buyers, market conditions remain uncertain. Investors should stay informed and take a balanced approach before making any decisions.
Disclaimer: Prices are indicative and may vary by location and dealer. Always consult a financial expert before making investment decisions.
