Silver Stable at Rs 2,600 for 10 gm; Iran Crisis Supports Metal Amid Industrial Demand

Mumbai, April 28: Silver prices in India on Tuesday traded little changed, tracking the previous session when it settled flat after witnessing volatility amid the Iran crisis and mixed industrial demand cues.

As of Tuesday, silver is trading flat at Rs 260 per gram as compared to Rs 260 per gram on Monday. The price of 10 grams of silver is Rs 2,600 and for 1 kg of silver is Rs 2,60,000. Spot gold-supportive arguments also lifted silver prices. Silver prices witnessed volatile trade sessions earlier in the week on global political risk. Silver prices have now been sustained at the higher level due to the disruption in the US and Iran peace deal and also oil prices are trading above $100 which is supporting inflationary worries. Meanwhile, gold safe-haven demand is remaining intact keeping silver prices supported.

Prices of silver were unchanged on Tuesday compared with Monday after witnessing volatile trade sessions on Monday as geopolitical tensions elevated global risk aversion while also traders tracking mixed industrial demand. In the domestic market, silver prices remained stable this week as international rates are also trading close to India prices due to negligible state government tax variations and no demand-supply disruption.

Prices City-wise

In Chennai, Hyderabad and Kerala, silver price today was quoted at Rs 2650 for 10 grams which is Rs 50 higher than the India Basket Price. Silver rates remained unchanged in Chennai, Hyderabad and Kerala as compared to Monday. In Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara and Ahmedabad, silver today was trading Rs 2600 per 10 grams which is unchanged from Monday’s levels.

Silver and Oil Prices 

Higher oil prices tend to undermine the yields of risk-free assets, eroding confidence in paper assets which in turn fuels demand for precious metals from investors seeking safety or as a hedge against inflation.

If crude continues to surge, it will only heighten worries about runaway inflation and spark fears about the impact on growth. This should benefit both gold and silver. Traders also consider weakness in the US dollar as supporting bullion prices. US dollar weakness is worsening on concerns about the expanding fiscal deficit in the US.

A weak greenback makes dollar-denominated commodities cheaper for investors holding other currencies. This should support buying interest from Asian and European traders and help drive physical demand for bullion.

Silver Rates -10 Grams Across Indian Cities (April 28, 2026)

Source:

• goodreturns.in