Silver Consolidates Above ₹400 Milestone
January 29, 2026 – Silver continues to hold above the crucial ₹400/gram level, consolidating gains ahead of the Union Budget 2026 on February 1st. After crossing ₹400 earlier this week, prices are stabilizing in the ₹400-402 range.
Today's Price Snapshot
| Metric | Price | Change (Daily) |
|---|---|---|
| Silver per Gram | ₹400-402 | ↔ Stable |
| Silver per 10 Grams | ₹4,000-4,020 | ↔ |
| Silver per Kg | ₹4,00,000-4,02,000 | ↔ |
| COMEX (USD/oz) | ~$119 | ↑ 0.5% |
| Gold/Silver Ratio | ~47 | Historically low |
For real-time prices, check our live tracker.
Key Highlights
₹400 Now Acts as Support
The psychological barrier of ₹400 that was resistance for months has now flipped to support. This is a bullish technical signal.
Budget 2026 Countdown: 3 Days
- February 1, 2026: Union Budget announcement
- Current import duty: 6% (reduced from 7.5% in July 2024)
- Market expectation: Status quo or minor adjustments
- Read our Budget Impact Analysis
International Markets Strong
- COMEX silver trading above $119/oz
- Gold/Silver ratio at ~47 (historically low, favoring silver)
- Dollar index stable, supporting precious metals
What's Driving Prices
1. Pre-Budget Positioning
Traders are positioning ahead of the budget. Any surprise duty changes could move prices ±₹5,000-10,000/kg.
2. Global Safe-Haven Demand
Continued geopolitical tensions supporting precious metals globally.
3. Industrial Demand
Strong demand from solar panel manufacturing and electronics sectors.
4. Rupee Stability
USD/INR hovering around ₹86-87, providing some stability to import costs.
Price Trend This Week
| Day | Date | Price (₹/gram) | Change |
|---|---|---|---|
| Sun | Jan 26 | ₹397.73 | - |
| Mon | Jan 27 | ₹398.50 | +0.2% |
| Tue | Jan 28 | ₹399.25 | +0.2% |
| Wed | Jan 29 | ₹400-402 | +0.5% |
Week-to-date gain: +1.1%
What Should You Do?
For Buyers
- ₹400 is now support – consider buying on dips to ₹400-402
- If waiting for budget, keep cash ready for post-budget opportunities
- Use our Silver Calculator for accurate pricing
For Investors
- Don't panic-buy or panic-sell before budget
- Long-term trend remains bullish
- Use Investment Calculator to track your portfolio
For Sellers
- Current prices near all-time highs
- Consider partial profit-booking
- ₹410-420 could be next targets if budget is favorable
Budget Watch: What to Monitor
| Factor | Current | Budget Expectation |
|---|---|---|
| Import Duty | 6% | Likely unchanged |
| IGST | 3% | Unchanged |
| Solar Incentives | Moderate | Expected boost |
| Hallmarking | Enforced | Stricter rules |
Technical Levels
| Level | Price | Significance |
|---|---|---|
| Support 1 | ₹400 | Psychological (was resistance) |
| Support 2 | ₹395 | Recent consolidation |
| Resistance 1 | ₹405 | Near-term target |
| Resistance 2 | ₹420 | All-time high zone |
Related Tools
| Tool | Use Case |
|---|---|
| Live Prices | Real-time tracking |
| Silver Calculator | Calculate purchase cost |
| Investment Calculator | Track profit/loss |
| USD Price | International rates |
Looking Ahead
Key dates this week:
- Jan 30 (Thu): Last full trading day before budget
- Jan 31 (Fri): Pre-budget positioning
- Feb 1 (Sat): Budget 2026 announcement
Expect increased volatility as the budget approaches. Stay tuned to SilverInfo.in for live updates!
Prices are indicative and may vary. For the most accurate rates, always check our live dashboard. This is not financial advice.