Silver Advances for 3rd Straight Session; US-Iran Hostilities Revive Safe-Haven Demand for White Metal

Mumbai, May 8: Silver prices in India edged higher on Friday, with the national rate for the white metal quoted at ₹2,750 per 10 grams – a gain of ₹50 over Thursday’s rate of ₹2,700 per 10 grams, continuing a steady upward trajectory that has now seen the metal advance for a third consecutive session. At the per-gram level, silver is priced at ₹275 on Friday, up ₹5 from Thursday’s ₹270, while at the kilogram level the metal is quoted at ₹2,75,000, rising ₹5,000 from Thursday’s ₹2,70,000. 

The Friday advance comes against the backdrop of renewed geopolitical tensions in the Middle East, with the US and Iran exchanging fire near the Strait of Hormuz overnight, which has revived safe-haven demand for precious metals and provided fresh upward momentum to silver after a brief mid-week consolidation. 

Silver prices in India are primarily determined by international spot prices, and Friday’s domestic move broadly mirrors the firmer tone seen in global bullion markets as investors seek refuge in hard assets amid escalating conflict risks, a volatile dollar environment, and uncertainty over the trajectory of the ceasefire between Washington and Tehran.

Across India’s major bullion markets on Friday, city-wise silver rates for 10 grams show a broadly uniform picture, with most cities priced at ₹2,750 up ₹50 from Thursday’s ₹2,700 in those markets. Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara, and Ahmedabad are all uniformly quoted at ₹2,750 per 10 grams on Friday, each gaining ₹50 from Thursday’s ₹2,700, reflecting the tightly harmonised pricing that characterises India’s bullion distribution network. 

Chennai, Hyderabad, and Kerala are each quoted at ₹2,749 per 10 grams on Friday a marginal ₹1 discount to the national benchmark — compared with ₹2,750 in Thursday’s session, with the negligible intra-city divergence attributed to localised jewellers’ association pricing norms rather than any meaningful shift in demand or supply dynamics in these markets.

Industrial demand remains a significant and often underappreciated driver of silver prices, distinguishing the white metal from gold in terms of its sensitivity to global manufacturing and technology trends. Silver’s unique physical properties including its unmatched electrical conductivity and reflectivity make it an indispensable raw material in solar panel manufacturing, electric vehicles, semiconductors, and consumer electronics, all of which are sectors witnessing sustained capacity expansion globally. 

Any uptick in industrial output forecasts or renewable energy deployment targets, particularly from China and the United States, tends to tighten silver’s supply-demand balance and add a structural floor to prices that operates independently of pure investment or safe-haven demand.

Silver Rates -10 Grams: Friday May 8 vs Thursday May 7, 2026

Source:

• goodreturns.in | Rates for 10 grams of silver