Silver Rate Today: Silver Edges Down Again on Wednesday; National Rate Falls ₹50 to ₹2,800 per 10 gm

Mumbai, May 20: Silver prices in India continued their downward drift on Wednesday, with the national rate slipping a further ₹5 per gram to ₹280, or ₹2,800 per 10 grams and ₹2,80,000 per kilogram a decline of ₹50 per 10 grams from Tuesday’s ₹2,850.

The fresh fall extends what has now become a persistent post-tariff correction, with the metal having shed ₹300 per 10 grams from its recent spike-high of ₹3,100  unwinding nearly a third of the sharp ₹1,000 surge that had accompanied the government’s decision to more than double precious metal import duties to 15%.

Tuesday’s national rate of ₹2,850 had itself been a step down from Monday’s ₹2,900, and Wednesday’s move confirms that sellers remain in control at current levels, with buyers unwilling to step in aggressively while the post-tariff price discovery process continues. The persistence of the decline across four consecutive sessions suggests the market is still searching for a durable floor, with the ₹2,800 level now being tested as the next potential support.

The city-wise picture on Wednesday shows the premium markets narrowing their gap with the benchmark cities. Chennai, Hyderabad and Kerala, which had held firm at ₹3,000 per 10 grams on Tuesday, have now fallen ₹150 to ₹2,850 — still a ₹50 premium over the national rate but finally succumbing to the broader softness after two sessions of resilience. Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara and Ahmedabad moved in lockstep with the national rate, all declining ₹50 to ₹2,800 per 10 grams levels not seen since before the import duty revision triggered the sharp spike.

The convergence between the southern premium cities and the benchmark markets is a notable development, suggesting that even the structurally stronger demand pockets of Tamil Nadu, Hyderabad and Kerala are beginning to feel the weight of the extended correction.

Gold Prices

Gold prices in India extended their recovery for a second consecutive session on Wednesday, building on Tuesday’s bounce as buyers continued to return to the market following last week’s steep post-tariff correction. The national price of 24-karat gold (99.9% purity) rose to ₹1,58,350 per 10 grams, gaining ₹1,310 over Tuesday’s ₹1,57,040. The 22-karat rate (91.6% purity) climbed to ₹1,45,150 per 10 grams, up ₹1,200 from Tuesday’s ₹1,43,950. The 18-karat price (75% purity) advanced to ₹1,18,760 per 10 grams, rising ₹980 from Tuesday’s ₹1,17,780. On a per-gram basis, 24K gold now stands at ₹15,835, 22K at ₹14,515 and 18K at ₹11,876 — up ₹131, ₹120 and ₹98 respectively on the day.

10 Gram Silver Prices: Wednesday vs Tuesday – City-Wise Comparison

Source:

• goodreturns.in | Wednesday, May 20, 2026