Silver prices in Delhi have experienced an astronomical rise over the past four decades. Data from BankBazaar reveals a staggering increase of more than 7,135% on the Indian commodity market since 1985.
Historic Price Surge in Delhi
On Thursday, January 15, 2026, spot silver prices in New Delhi reached ₹286,180 per kilogram. This marks a dramatic jump from the average annual price of just ₹3,955 per kg recorded forty years earlier in 1985.
Investors who purchased silver back in 1985 are now seeing enormous returns. For example, an individual who invested ₹1 lakh to buy approximately 25.28 kilograms of silver at the 1985 average price would now hold a total value nearing ₹72.35 lakh. This figure includes both the initial principal and the substantial profit generated over the years.
Market Volatility and Recovery
Thursday's trading session witnessed some volatility in silver prices. Early in the day, prices dropped by 2.5%, or ₹7,217 per kg, to ₹280,794 per kg on the MCX. In Delhi's spot market, the rate fell by ₹2,300 per kg.
Market analysts attributed this decline to heavy profit booking by traders. A reduction in safe-haven demand amid global market uncertainties also contributed to the temporary dip.
However, silver futures made a strong recovery later in the evening. By 10:50 PM IST, prices had climbed 0.63%, or ₹1,808 per kg, to reach ₹289,819 per kg. This recovery followed the previous market close of ₹288,011 per kg, as per MCX data.
Five-Year Performance and Record Highs
The recent performance of silver has been equally impressive over a shorter timeframe. MCX silver futures achieved a fresh record high of ₹291,406 per kilogram on Wednesday, January 14, 2026.
This surge was driven by strong buying interest and investor uncertainty surrounding a US Supreme Court ruling on tariffs imposed by former President Donald Trump.
Staggering 337% Returns
Over the last five years, from January 14, 2021, to January 14, 2026, silver prices on the Multi-Commodity Exchange of India skyrocketed by 337%. This phenomenal growth delivered massive returns to commodity investors worldwide.
An investment of ₹1 lakh made in silver at the beginning of 2021 would have grown to approximately ₹4.37 lakh by January 2026. This represents a return of over ₹3.37 lakh on the initial investment.
MCX data illustrates this dramatic price ascent. Silver was trading at ₹66,683 per kg on January 14, 2021. It steadily climbed over the years, reaching ₹61,603 per kg in 2022, ₹69,786 per kg in 2023, ₹72,627 per kg in 2024, and ₹90,556 per kg in 2025, before hitting the record high in early 2026.
The precious metal's journey reflects its enduring value and appeal as an investment asset. Market participants continue to monitor silver rates closely, especially in key trading hubs like Delhi.
Disclaimer: This information is for educational purposes only. Investors are advised to consult certified financial experts before making any investment decisions, as market conditions are subject to rapid change.
