Silver Rate Today, May 11: Silver Steady on Monday at ₹2,750 per 10 gm Nationally; Chennai, Hyderabad Surge ₹100

Mumbai, May 11: Silver prices in India were broadly steady on Monday, with the national price of the white metal holding unchanged at ₹275 per gram — or ₹2,750 per 10 grams and ₹2,75,000 per kilogram — matching Friday’s closing level exactly for most cities as global bullion markets paused to assess the evolving US-Iran diplomatic situation following President Trump’s announcement of a pause in “Project Freedom.” The flat national benchmark on Monday contrasts with Friday’s third consecutive daily gain, suggesting the metal is in a period of consolidation after a strong run, with investors awaiting clearer signals from Washington and Tehran on whether a comprehensive peace deal is within reach.

City-wise Rates

Across India’s major bullion markets on Monday, city-wise silver rates for 10 grams showed a notable divergence compared with Friday’s broadly uniform picture. Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara and Ahmedabad were all uniformly quoted at ₹2,750 per 10 grams — unchanged from Friday’s ₹2,750 in those markets, maintaining the tightly harmonised pricing that characterises India’s mainstream bullion distribution network. However, Chennai, Hyderabad and Kerala saw a sharp jump to ₹2,850 per 10 grams on Monday — a significant gain of ₹100 or approximately 3.6% from Friday’s ₹2,749 in those cities, a notable divergence from the national benchmark that appears to reflect localised demand-supply dynamics and jewellers’ association adjustments in southern and coastal markets where silver jewellery demand tends to be structurally higher.

Iran War

The Iran war and its cascading impact on global energy markets, inflation expectations and currency stability remain the overarching narrative for precious metals including silver. As the Strait of Hormuz remains under pressure and oil prices stay elevated, inflationary fears continue to provide a structural floor for silver as both a safe-haven and an inflation hedge. Additionally, silver’s growing role as an industrial metal — particularly in solar panels, electric vehicles and semiconductors — means that any recovery in global manufacturing activity triggered by a potential Iran peace deal could simultaneously lift industrial silver demand and support prices from a different angle entirely.

Gold Prices

On gold, prices in India extended their decline on Monday, with 24-karat gold falling to ₹1,52,130 per 10 grams from Friday’s ₹1,52,680 — a weekend decline of ₹550 — as a firming dollar and tentative Iran peace optimism dampened safe-haven appetite. The 22-karat rate eased to ₹1,39,450 per 10 grams from ₹1,39,950 on Friday, a drop of ₹500, while 18-karat gold declined to ₹1,14,100 from ₹1,14,510 — shedding ₹410 over the weekend across all purities.

Silver Rates -10 Grams Across Indian Cities (Monday, May 11, 2026)

Source:

• goodreturns.in