Silver prices in India remained steady on Thursday even as gold slipped, with investors reacting cautiously to mixed global cues and fresh economic data from the United States.
The contrasting movement in the two key precious metals reflects a market navigating uncertainty, geopolitical tensions, and shifting expectations around the US Federal Reserve’s next policy steps.
Gold futures on the Multi Commodity Exchange (MCX) fell marginally, dipping by Rs 88 or 0.07 per cent to Rs 1,30,374 per 10 grams for December delivery. The session saw noticeable volatility, with prices recovering from early lows but failing to sustain upward momentum.
Silver, on the other hand, displayed more strength. March 2026 silver futures rose by Rs 320, or 0.18 per cent, to Rs 1,82,672 per kilogram in a turnover of 13,820 lots.
Rahul Kalantri, Vice-President of Commodities at Mehta Equities Ltd, said the yellow metal saw sharp intraday swings and struggled to hold on to gains amid global uncertainty.
Global Cues: Soft US Data and Strong Silver Rally
In the international market, Comex gold futures for February delivery slipped 0.15 per cent to $4,225.95 per ounce. Meanwhile, silver futures for the March contract rose 0.25 per cent to $58.76 per ounce, hovering close to the lifetime high of $59.65 per ounce, marked just a day earlier.
According to Kalantri, precious metals continued edging toward fresh highs as traders digested new US economic data. The ADP non-farm employment report registered a significant downside surprise, raising speculation that the Federal Reserve may need to adopt a more accommodative approach.
The weaker-than-expected data dragged the US dollar index below the 99 mark, providing additional support to bullion.
“As economic uncertainty deepens, investors continue to lean on gold's safe-haven strength,” Kalantri noted.
Volatility Likely to Continue
Analysts said bullion prices remain supported by a weak dollar and heightened risk aversion. However, they warned that volatility may persist as traders monitor upcoming economic indicators, central bank commentary, and global developments.
With gold unable to sustain an upward push and silver showing higher momentum, investors are navigating a delicate environment shaped by macroeconomic uncertainty and political tensions.
Silver Rates Across Major Cities In India On Dec 4
Silver Rate In Delhi Today
The current silver price in Delhi stand at Rs 191 per gram and Rs 1,91,000 per kg.
Silver Rate In Chennai Today
The current silver price in Chennai stand at Rs 200 per gram and Rs 2,00,000 per kg.
Silver Rate In Bengaluru Today
The current silver rates in Bengaluru stand at Rs 191 per gram and Rs 1,91,000 per kg.
Silver Rate In Mumbai Today
The current silver rates in Mumbai stand at Rs 191 per gram and Rs 1,91,000 per kg.
Silver Rate In Pune Today
The current silver rates in Pune stand at Rs 191 per gram and Rs 1,91,000 per kg.
Silver Rate In Kolkata Today
The current silver rates in Kolkata stand at Rs 191 per gram and Rs 1,91,000 per kg.
| City | Per Gram | Per KG |
| Silver Rate in Delhi | 191 | 1,91,000 |
| Silver Rate in Chennai | 200 | 2,00,000 |
| Silver Rate in Bangalore | 191 | 1,91,000 |
| Silver Rate in Mumbai | 191 | 1,91,000 |
| Silver Rate in Pune | 191 | 1,91,000 |
| Silver Rate in Kolkata | 191 | 1,91,000 |
| Silver Rate in Hyderabad | 200 | 2,00,000 |
| Silver Rate in Ahmedabad | 191 | 1,91,000 |
| Silver Rate in Indore | 191 | 1,91,000 |
| Silver Rate in Lucknow | 191 | 1,91,000 |
| Silver Rate in Coimbatore | 200 | 2,00,000 |
| Silver Rate in Bhubaneswar | 200 | 2,010000 |
| Silver Rate in Mysore | 191 | 1,91,000 |
| Silver Rate in Kanpur | 191 | 1,91,000 |
| Silver Rate in Salem | 200 | 2,00,000 |
| Silver Rate in Visakhapatnam | 200 | 2,00,000 |
| Silver Rate in Vijayawada | 200 | 2,00,000 |
| Silver Rate in Patna | 191 | 1,91,000 |