Delhi Silver Prices Rebound Amid Bullish Trends
The price of silver in Delhi rebounded to ₹260 per gram on August 31, erasing losses incurred due to the Federal Reserve's annual gathering at Jackson Hole. The bounce was driven by a combination of short covering and renewed physical demand, according to analysts.
On August 22, silver prices had reached ₹2,60,000 per kilogram in Delhi, but fell to ₹2,37,000 on August 29 due to the Fed's commentary. However, buyers who had been waiting for a dip used the lower prices to accumulate, leading to the current rebound.
The supply-demand fundamentals of silver remain bullish, with the Silver Institute projecting a sixth consecutive annual supply deficit at 215 million troy ounces. This has driven silver prices up 72% since August 2025, and the metal remains at the upper end of its historical range.
With the wedding season beginning in late October, dealers in the Chandni Chowk market note that September typically sees pre-season accumulation. The current price of ₹260 per gram is 73.3% higher than last year's price, driven by a super-spike to an international all-time high of $121.67 per troy ounce in January.