Silver Prices Today, August 11, 2026: Silver Jumps Rs 5,200 Per Kg in Delhi, Trades Near Rs 2.40 Lakh; Global Rates Rally Past $65 an Ounce
New Delhi, August 11: Silver prices continued their strong upward run in India on Tuesday, with the white metal surging Rs 5,200 to Rs 2.40 lakh per kilogram in the national capital as global bullion extended its rally on expectations of a more accommodative US monetary policy.
In Delhi, silver climbed to Rs 2,40,000 per kg, resuming its gains after remaining flat in the previous session. Other major cities traded at higher levels, with Kolkata, Chennai, Bengaluru and Hyderabad recording silver at around Rs 2,47,000 per kg, while Mumbai quoted the metal at approximately Rs 2,31,373 per kg.
Globally, spot silver gained 2.3% to $65.03 per ounce, while September silver futures on the international market surged almost 10% to $63.50 an ounce, extending a broader rally in precious metals that has also pushed gold to a seven-week high near $4,356 an ounce.
MCX Outlook: Silver Tests Rs 2.35 Lakh
On the Multi Commodity Exchange (MCX), September silver futures have jumped about Rs 14,268, or nearly 7%, in recent sessions to settle around Rs 2.31 lakh per kg. The contract touched an intraday high of Rs 2,35,221 per kg last week before paring gains.
The rally caps a sharp recovery through early August. Silver, which opened the month at around Rs 2.16 lakh per kg, has climbed roughly 10% in just 11 trading days, outperforming gold in what analysts describe as a compression in the gold-silver ratio — now near 67.5:1.
What’s Driving the Rally
Market watchers attribute the surge to three factors:
– Fed rate expectations: Markets are pricing in a potentially more accommodative stance from the US Federal Reserve, with traders awaiting US inflation data this week for further cues on the central bank’s interest-rate trajectory.
– Weaker dollar: A softer dollar makes dollar-denominated metals cheaper for holders of other currencies, boosting investment demand.
– Industrial demand and tight physical supply: Sustained buying in silver ETFs and robust industrial usage — including in solar and energy infrastructure — have kept physical supply tight.
“From an investor’s perspective, the Rs 2.10 lakh area has emerged as an important base for MCX silver. If physical tightness, institutional ETF buying and industrial demand continue to support the market, silver could make another strong move toward Rs 2.50–2.60 lakh in the coming weeks,” said Vandana Bharti, a commodities analyst.
City-Wise Silver Rates (per kg, August 11, 2026)
| City | Silver Rate |
|---|---|
| Delhi | Rs 2,40,000 |
| Kolkata | Rs 2,47,000 |
| Chennai | Rs 2,47,000 |
| Bengaluru | Rs 2,47,000 |
| Hyderabad | Rs 2,47,000 |
| Mumbai | Rs 2,31,373 |
Technical Levels
Analysts see immediate support for MCX silver in the Rs 2,30,000–2,31,500 zone, with key resistance at Rs 2,36,500–2,38,000. A sustained breakout above Rs 2.40 lakh could open the doors toward the Rs 2.50–2.60 lakh range in the medium term.
However, volatility is expected to remain elevated, with traders closely tracking US inflation prints, geopolitical developments in West Asia, and the movement of the dollar-rupee exchange rate for direction.
(Silver rates vary across cities due to local taxes, transport costs and dealer margins, and are subject to change throughout the day.)
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