🎉 Milestone Week: Silver Crosses ₹400!
This week will go down in history as the week silver finally breached the ₹400 psychological barrier. From Republic Day's ₹397 to ₹402.81 by week's end!
Week at a Glance
| Metric | Value |
|---|---|
| Week | Jan 26 - Feb 1, 2026 |
| Opening (Sun) | ₹397.73/gram |
| Closing (Sat) | ₹402.81/gram |
| Weekly High | ₹402.81/gram |
| Weekly Low | ₹397.00/gram |
| Week Change | ↑ +₹5.08 (+1.27%) |
| YTD Change | ↑ +22.5% |
What Happened This Week
Market Trend
Silver showed strong bullish momentum this week, crossing the critical ₹400 mark that was resistance for months. The rally was supported by:
- 🇮🇳 Post-Republic Day momentum
- 📈 Strong COMEX prices above $104/oz
- 💱 Rupee weakness supporting imports
- 🏭 Industrial demand staying robust
Outlook for Next Week
With ₹400 now acting as support (previous resistance), the next targets are:
- Immediate: ₹405-410
- Medium-term: ₹420 (all-time high)
Some profit-booking possible, but overall trend remains bullish.
Daily Price Movement
| Day | Date | Price (₹/gram) |
|---|---|---|
| Sun | Jan 26 | ₹397.73 |
| Mon | Jan 27 | ₹398.50 |
| Tue | Jan 28 | ₹399.25 |
| Wed | Jan 29 | ₹400.10 ⭐ |
| Thu | Jan 30 | ₹401.35 |
| Fri | Jan 31 | ₹402.15 |
| Sat | Feb 1 | ₹402.81 |
⭐ Silver crossed ₹400 on January 29, 2026
City-Wise Weekly Closing Prices
| City | Price/Gram | Price/Kg | Making Charges |
|---|---|---|---|
| Mumbai | ₹405.16 | ₹4,05,160 | 8% |
| Delhi | ₹403.01 | ₹4,03,010 | 10% |
| Ahmedabad | ₹403.11 | ₹4,03,110 | 7% |
| Pune | ₹403.71 | ₹4,03,710 | 9% |
| Surat | ₹403.21 | ₹4,03,210 | 7% |
Key Market Factors
Global Influences
- COMEX Silver: Tracking international futures prices
- USD/INR Exchange: Currency movements impact import costs
- International market sentiment directly affects Indian prices
Domestic Factors
- MCX silver futures trading
- Import duty structure (6% customs + 3% IGST) – Budget July 2024
- Local demand from jewelry and industrial sectors
What Should You Do?
For Buyers
- ₹400 is now support: Consider accumulating on dips to ₹400-402
- Long-term buyers: Don't wait for perfect entry; systematic buying wins
- Use our Silver Calculator to estimate costs
For Investors
- Track weekly trends - momentum remains bullish
- Use Investment Calculator for ROI analysis
- Consider SIP approach to average out volatility
For Sellers
- Favorable time: Best prices since months
- ₹420 (all-time high) could be next - consider partial booking
- Compare buyback rates across jewelers
Related Tools
| Tool | Purpose |
|---|---|
| Live Dashboard | Real-time prices & charts |
| Silver Calculator | Calculate purchase cost with GST |
| Investment Calculator | Track your profit/loss |
| Tax Calculator | Estimate capital gains tax |
Looking Ahead
Next week's key events to watch:
- Global economic data releases
- Dollar index movements
- Domestic demand patterns
- Any policy announcements
Check live prices for real-time updates throughout the week.
This weekly wrap is auto-generated every Sunday at 11 PM IST based on actual market data. For the most current prices, always check our live dashboard.