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Silver Prices Pause: Fourth Day Unchanged Amid Market Volatility
20 Oct
Summary
- India's silver prices remain unchanged for the fourth consecutive day.
- MCX silver and spot silver prices surged, but physical rates stayed static.
- Silver prices have decreased by over 2.1% in October so far.
As of October 19, 2026, silver prices in India have remained static for the fourth consecutive day, showing a notable underperformance compared to gold. One gram of silver is priced at Rs 230, with 8-gram and 10-gram rates at Rs 1,840 and Rs 2,300 respectively, ahead of the Dussehra festival.
Despite a recent surge in both MCX silver and spot silver prices, driven by a decline in crude oil and anticipated unchanged interest rates from the US Federal Reserve, physical silver rates in India were unaffected. Silver prices have seen a decline of over 2.1% in October so far. Experts note silver's sensitivity to higher yields and global economic conditions.
International silver prices hovered around $57-58 an ounce, a nearly 6% decrease, widening the gold-silver ratio to approximately 72. However, concerns regarding elevated crude prices, India's trade deficit, and foreign capital outflows persist. A stronger rupee could also temper gains in domestic precious metal prices by reducing the cost of imported bullion.
Major Indian cities show variations in silver pricing. Chennai, Hyderabad, and Kerala report higher rates, with 1kg silver at Rs 2.40 lakh. Conversely, Delhi, Mumbai, Kolkata, and Bangalore list 1kg silver at Rs 2.30 lakh. Globally, markets are anticipating the Federal Reserve to maintain current interest rates during their upcoming policy meeting, while geopolitical tensions continue to influence oil prices and broader market uncertainty.
