Silver Trades Flat at ₹2,600 per 10 gm; Iran Deadlock, Rising Oil Keep Metal Supported

Mumbai, April 29: Silver prices in India traded flat on Wednesday and held onto the previous session’s level with the Iran deadlock persisting and oil extending gains for the fourth straight session above $100 bolstering support for precious metals on higher inflationary worries.

Silver traded flat on Wednesday at ₹260 per gram versus ₹260 reported earlier in the day on Tuesday. Silver price today is ₹2,600 for 10 grams and ₹2,60,000 for 1 kg. Like gold, rising safe-haven demand that has kept gold supported is also underpinning silver prices. With talks between Washington and Tehran continuing to flounder – Trump announced Tehran is in “a State of Collapse” while the Strait of Hormuz has remained as good as closed – risk aversion continued to support precious metals prices for the second straight session.

Prices in the yellow metal are finding some support as US-Iran peace talks remain deadlocked and with oil continuing to rise – Brent gained for an eighth straight session to trade at $111.78 a barrel and West Texas Intermediate ($100) — are keeping worries about inflation high. Such inflation fears overseas also support havens like silver and gold. On home turf, silver prices have traded flat for most of this week as international prices continue to track India prices closely, with just state taxes creating some difference and no sharp disruption in demand-supply.

Silver Price Today in Top Indian Cities

In Chennai, Hyderabad and Kerala on Wednesday, silver was priced at ₹2,650 for 10 grams — ₹50 over and above India basket price — flat from yesterday’s trade. In Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara and Ahmedabad today silver price was at ₹2,600 for 10 grams, steady from its previous close.

Silver, Oil and Dollar

Rising crude prices are weighing on risk-free yields making investors worried about the value of paper money and pushing them to buy precious metals as a store of value from rising inflation. If crude prices stay over $100 — as it seems they will — worrying investors about further inflation hikes should provide silver and gold some room for rallies. Dollar weakness too has lent some tailwind to gold and silver as concerns about the US widening fiscal deficit weighed heavily on the greenback. Lower dollar makes dollar-denominated metals cheaper for holders of other currencies supporting physical demand from Asian and European consumers and is likely to keep bullion prices from falling further even as investors take some money off the table due to lack of any fresh bullish triggers.

Silver Rates — 10 Grams Across Indian Cities (April 29, 2026)

Source:

•  goodreturns.in