Silver prices held steady across domestic trading sessions following an exceptionally volatile week between February 16 and February 21. The white metal experienced severe fluctuations over the period, tumbling sharply during the initial sessions under heavy profit booking and short-term selling pressure, before staging an aggressive rebound as buyers returned to precious metals amid mounting international uncertainty. On Sunday, February 22, 2026, rates paused across all quantity brackets, maintaining parity with the preceding session.
Current Retail Rates Across Quantity Brackets
Price levels remained entirely unchanged on Sunday, reflecting a temporary consolidation phase after days of wide swings. Silver was priced at Rs 275 per gram on February 22, 2026, identical to the prior trading day. Smaller standard retail denominations followed the same flat trajectory, with an 8-gram weight priced at Rs 2,200 and a 10-gram denomination trading at Rs 2,750, neither registering any day-on-day movement.
For larger commercial quantities, 100 grams of silver held firm at Rs 27,500. On a per-kilogram benchmark, the metal traded at Rs 2,75,000 on Sunday, matching Saturday's closing valuation exactly and highlighting a plateau following the dramatic weekly recovery.
The Rs 20,000 Decline and Subsequent Rebound
Market movements between February 16 and February 21 were defined by a sharp round-trip trajectory. During the early stretch from February 16 through February 18, silver prices softened considerably. Persistent profit booking paired with aggressive selling pressure drove valuations down by nearly Rs 20,000 per kg, dragging prices toward a weekly trough near Rs 2,55,000 per kg.
Market sentiment reversed decisively during the latter portion of the week. Beginning on February 19, silver initiated a steep upward climb, advancing by roughly Rs 20,000 per kg as participants re-entered precious metals seeking safety in a volatile macroeconomic environment. Firm momentum persisted through February 20 and February 21, allowing silver to fully recoup its weekly losses, reclaim the Rs 2,75,000 per kg mark, and ultimately stabilise at those elevated levels on February 22.
Dollar Weakness, Tariff Ruling, and Geopolitical Factors
Multiple international triggers shaped the sharp swings in the white metal this week. The US dollar retreated following a Supreme Court ruling striking down global tariffs, an outcome that enhanced silver's dual profile as both a safe haven asset and an industrial commodity. This legal setback for the White House merged with escalating tensions between the United States and Iran, reintroducing a risk premium that compounded the volatility in the silver market.
Monetary Easing and Industrial Consumption Outlook
Market analysts note that several structural forces could provide sustained support for white metal valuations moving forward. Ross Maxwell, Global Strategy Operations Lead at VT Markets, pointed out that declining real interest rates, a softening US dollar, and an evident turn toward looser monetary policy among major global central banks may continue to drive upward pressure on silver quotations.
Maxwell also highlighted the role of industrial consumption across sectors such as solar power, electronics, and broad electrification initiatives, observing that this demand profile remains steady rather than explosive. At the same time, available inventories alongside ongoing recycling inflows are expected to act as a buffer, capping runaway price spikes in the metal.
