Editor’s Note
This article reports on silver prices in India as of 18 February 2026, noting market volatility driven by global factors. The information is based on data available at the time of writing.
Silver prices in India on 18 February 2026 hovered around ₹259–₹260 per gram and approximately ₹2.59–₹2.60 lakh per kilogram. While the spot market showed weakness, MCX futures displayed strength. Market volatility persists due to global cues, dollar movements, and US-Iran talks.
Silver prices are currently experiencing significant fluctuations. On one hand, there is persistent downward pressure in the domestic market, while on the other, a sharp rally was observed on the MCX. This has left both retail buyers and investors confused about the true direction of silver. On 18 February 2026, while the bullion market showed softness in silver prices, the futures market recorded gains.
According to a report by Good Returns, the silver rate in India today is ₹255 per gram. Meanwhile, the price of 1 kilogram of silver is ₹2,55,000. Today, 100 grams of silver is available for ₹25,500, marking a decline of ₹500. Overall, the price of 1 kilogram of silver has decreased by ₹5,000.
| Quantity | Today’s Price (₹) | Change |
| :— | :— | :— |
| 1 gram | ₹255 | -₹5 |
| 10 grams | ₹2,550 | -₹50 |
| 100 grams | ₹25,500 | -₹500 |
| 1 kilogram | ₹2,55,000 | -₹5,000 |
| City | Per Gram (₹) | Per 10 Grams (₹) | Per Kilogram (₹) |
| :— | :— | :— | :— |
| Delhi | ₹255 | ₹2,550 | ₹2,55,000 |
| Mumbai | ₹255 | ₹2,550 | ₹2,55,000 |
| Kolkata | ₹255 | ₹2,550 | ₹2,55,000 |
| Bengaluru | ₹255 | ₹2,550 | ₹2,55,000 |
| Chennai | ₹260 | ₹2,600 | ₹2,60,000 |
While the spot market showed a decline, March futures silver on the MCX jumped by over ₹4,100, or nearly 2%, to reach ₹2,32,930 per kilogram. This rally is believed to be due to short covering and technical buying.
Volatility also persists in the global precious metals market. Uncertainty regarding the Federal Reserve’s monetary policy, anticipation of US economic data, and fluctuations in the dollar index have influenced prices. A stronger dollar typically puts pressure on precious metals as it makes them more expensive for foreign buyers.
According to Trading Economics, spot gold approached $4,900 per ounce after two days of decline. Renewed investor hopes regarding the Federal Reserve’s monetary policy supported precious metals. However, liquidity remained low due to Lunar New Year holidays in China, preventing a major price surge. Progress in US-Iran talks and Russia-Ukraine negotiations slightly reduced demand for safe-haven investments, which also impacted silver.
February saw heavy fluctuations in silver prices. Some sessions recorded a drop to ₹207 per gram, while some days saw a surge to ₹255 per gram. This clearly indicates that market volatility has not yet subsided.
| Date | Per Gram (₹) |
| :— | :— |
| 02/02/26 | ₹229.68 |
| 02/04/26 | ₹255.63 |
| 02/05/26 | ₹207.81 |
| 02/10/26 | ₹235.32 |
| 02/17/26 | ₹214.48 |
This shows that both sharp declines and rallies were observed throughout the month.