Silver Rate Down Feb 2: Gold and silver prices have been continuously falling for the past 3 days. A significant drop in gold and silver prices was observed on the day of the budget announcement. On Monday, with the start of futures trading on the Multi-Commodity Exchange (MCX), gold and silver prices became cheaper. While the price of 1 kg of silver fell by approximately Rs. 16,000 in a single day, the futures price of 10 grams of 24-karat gold on MCX decreased by more than Rs. 4,000. In early trading today on MCX, silver prices fell by around Rs. 22,000.

Besides this, the price of gold also fell by Rs. 7,700. Silver for March 5th delivery closed at Rs. 2,65,652 per kg in the previous session. Today, it opened at Rs. 2,67,501. At 10:30 AM, it was trading at Rs. 2,46,617, down Rs. 19,035 or 7.17 per cent. In fact, the price of silver has fallen by more than Rs. 1.5 lakh in three days.

What is the price of 1 kg of silver?
After falling by more than 9 per cent on the Budget 2026 day, when commodity trading started on MCX on Monday, silver became even cheaper. The silver price closed at Rs. 2,65,652 on the previous trading day. As soon as trading opened on Monday, it fell to Rs. 2,55,652 per kg, then a few minutes later to Rs. 2,49,713 per kg.

Why the decline?
Gold and silver prices have also fallen internationally. Spot gold was trading down 3.3 per cent at $4,703.27 per ounce. In the previous session, it fell by more than 5% and reached its lowest level in two weeks. US gold futures also fell by 0.3% to $4,729.20 per ounce for April delivery. Spot silver also fell by 5% to $80.28 per ounce.

Silver Rate today City-wise

In Mumbai, silver reached ₹2,66,020 per kilogram.
In Delhi, silver reached ₹2,65,560 per kilogram.
In Chennai, silver reached ₹2,66,790 per kilogram.
In Hyderabad, the price of silver remained at ₹2,66,440.
In Bengaluru, the price of silver remained at ₹2,66,230.
In Kolkata, silver is trading at ₹2,65,660 per kilogram.