Silver extended its losing trend on Monday, October 27, weighed down by a stronger US dollar and optimism over easing trade tensions between the US and China. On the Multi Commodity Exchange (MCX), Silver December futures dropped 0.57% to ₹1,46,625 per kg at 10:49 a.m., while Gold December futures declined 1.26% to ₹1,21,900 per 10 grams.
As per the Indian Bullion Association (IBA), silver was quoted at ₹1,46,860 per kg (999 fine). Meanwhile, 24-carat gold stood at ₹1,22,770 per 10 grams, and 22-carat gold at ₹1,12,539. Despite recent softness, silver has remained resilient, maintaining levels above ₹1 lakh per kg for several months. Over the long term, the metal has surged 668.84% between 2005 and 2025.
On October 27, silver bullion rates were ₹1,47,440/kg in Ahmedabad, ₹1,47,250/kg in Mumbai, ₹1,46,990/kg in New Delhi, ₹1,47,050/kg in Kolkata, ₹1,47,480/kg in Hyderabad, and ₹1,47,250/kg in Pune. The MCX Silver 999 rate across all these major cities was recorded at ₹1,47,150 per kg.