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Significant Drop in Silver Prices Observed on March 18

On March 18, silver prices saw a significant drop, with Delhi's rates falling to ₹2,65,000 per kilogram. This decline is attributed to increased supply and weak demand, influenced by global market conditions. Experts suggest that while current volatility is expected, potential price increases could occur if demand rises. Investors are advised to stay informed about daily rates and market dynamics, especially with upcoming festivals and wedding seasons on the horizon.
By Narendra Chaudhary Mar 18, 2026, 11:42 IST

Market Overview


On Wednesday, March 18, a notable decline in silver prices was recorded. On the third day of the week, the cost of silver in Delhi and several northern states dropped by approximately ₹4,000 per kilogram compared to the previous day. In the bullion market of Delhi, the price for one kilogram of silver is currently trading at ₹2,65,000. Similarly, states like Mumbai, Rajasthan, Uttar Pradesh, and Madhya Pradesh are witnessing silver prices around the same level.

Regional Price Variations

In southern India, silver prices are slightly higher, with one kilogram priced at ₹2,75,000. Jewelers and investors are exercising caution regarding this market shift and are contemplating their buying and selling strategies.


Reasons for the Decline

Experts suggest that ongoing tensions in the Middle East are impacting global markets. Typically, during such times, investors turn to gold and silver as safe-haven assets, leading to price increases for these precious metals. However, the current scenario appears to be different.


Analysts indicate that two primary factors are currently influencing the prices of gold and silver:



  1. Increased Supply – The market currently has a sufficient supply of silver, which is exerting downward pressure on prices.


  2. Weak Demand – Investors are being cautious about purchasing silver in large quantities, resulting in lower demand and price pressure.



Additionally, fluctuations in international silver prices and the status of the dollar are also affecting the domestic market. Investors are advised to stay updated on daily rates and assess market conditions before making purchases.

Expert Opinions

Experts believe that the current volatility in silver prices is normal, and further fluctuations may occur in the coming days. If demand increases or international indicators strengthen, silver prices could rise again.


Current Rates (March 18)


  • Delhi and Northern States – ₹2,65,000 per kilogram


  • Southern India – ₹2,75,000 per kilogram



Meanwhile, both investors and jewelers are closely monitoring silver trading and keeping an eye on potential price changes in light of upcoming festivals and wedding seasons.