New Delhi: While gold and silver prices saw a sharp fall on Friday globally, recent trends show that silver has been on a strong upward trajectory. Surprisingly, the most expensive silver in the world is not in India or the US—it’s in China, where high demand has pushed prices significantly above the global average.
Silver Prices in China vs. the World
Excluding Friday’s drop, silver was trading at approximately $109 per ounce worldwide on Thursday. In China, however, the price surged to around $125 per ounce, creating a difference of $16 (around ₹1,471) per ounce between China and the rest of the world. Since 1 kilogram contains about 35 ounces, this translates into an extra ₹51,000 per kilogram in China compared to global markets.
Why Is Silver So Expensive in China?
China accounts for over 65% of global silver consumption, and its demand is not limited to jewelry—it actively trades silver in spot and futures markets as well. With global silver supplies tightening, Chinese investors are increasingly treating silver as a safe-haven investment, buying in large volumes.
Another factor driving higher prices is China’s new silver export policy. Since early January, only government-licensed companies are permitted to export silver, tightening supply further and pushing domestic prices up.
Friday’s Price Correction
Despite these trends, silver and gold prices fell sharply on Friday on the Multi Commodity Exchange (MCX) due to profit-booking after a strong rally earlier in the week. February 2026 gold futures dropped by ₹10,000 (6%) to ₹1,61,000 per 10 grams, while March 2026 silver futures fell by ₹24,000 to ₹3,75,900 per kilogram.
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