Silver Rate Today: Silver Surges ₹150 per 10 gm on Tuesday

Mumbai, May 12: Silver surged on Tuesday morning in India after two straight sessions of rangebound trade. US President Donald Trump stated that an Iranian ceasefire was “on life support” after Iran made clear the Gulf state had many demands before ending hostilities with the United States. The precious metals market across India responded well to the news as bullion investors re-priced safe-haven value into their metals.

Tuesday’s national price of silver is ₹290/gram, or ₹2,900/10 grams and ₹2,90,000/kilogram. This is ₹15/gram or ₹150/10 gram higher than Monday’s national price of ₹275/gram (₹2,750/10 grams). This morning’s surge is silver’s largest single-day move in recent weeks and appears macro in nature: a reaction to negative headlines about the peace process between the United States and Iran dissipating, likely hitting near-term global growth expectations across financial markets after three-straight sessions of ranges for silver on May 9, May 10 and May 11.

Silver’s price action has resembled a staircase over its last 10 days of trade: ₹2,550/10 grams on May 5th, which was a local bottom, to ₹2,650 on May 6 and ₹2,700 on May 7, and then ranging ₹2,750/10 grams (Monday) through May 11 before today’s rise to ₹2,900 — a ₹350 increase per 10 grams, or 13.7% higher, over eight trading sessions.

Silver Rates Change by City

Silver prices are up ₹150/10 grams across all major markets in India today, highlighting the national-level scope of today’s move: clearly driven by global macro developments. Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara and Ahmedabad all increased by ₹150 from Monday’s ₹2,750/10 grams to today’s ₹2,900 with no divergences within these seven majority markets.

Premium markets Chennai, Hyderabad and Kerala which were at a ₹100 premium to the rest of India on Monday at ₹2,850/10 grams—have narrowed their quotes with the rest of the country, with local prices expected to soon report ₹2,900/10 grams as well. It’s rare for both premium and nonpremium markets to converge vertically like this in one single trading session, which strengthens Tuesday’s overall theme of macro-driveness.

PM Modi Requests Indians Not to Buy Gold Right Now

Indian Prime Minister Narendra Modi on Sunday asked Indians to not travel internationally nor make any unneeded gold purchases during the next year. Modi also encouraged offices who had asked their employees to return to work following a successful Covid quarantine to consider remote business once again where possible in order to reduce India’s demand for domestic oil consumption. India imports nearly 80% of its consumed oil, gas and electricity from abroad, payments for which come from India’s weakening foreign reserves — those foreign reserves are coming under pressure as India needs to buy more oil than ever before to power its import-dependent economy with oil hovering around $100/barrel on Tuesday. Modi’s speech comes off as a warning to India’s citizens that the government and RBI do not want the situation with Iran to continue, as India’s Forex reserves are needed to protect the rupee should the Strait of Hormuz be blocked entirely.

Silver Rates – 10 Grams Across Indian Cities (May 12, 2026)

Source:

• https://www.goodreturns.in/silver-rates/