Silver Recovers ₹100 per 10 gram on Wednesday to ₹2,650 Nationally

Mumbai, May 6: Silver prices in India rebounded sharply on Wednesday, recovering the entire ₹100-per-10-gram loss recorded in Tuesday’s session as improving global sentiment — following US President Donald Trump’s signal of a possible peace deal with Iran — revived appetite for precious metals.

The national benchmark rate for silver stands at ₹265 per gram on Wednesday, translating to ₹2,650 per 10 grams and ₹2,65,000 per kilogram, up ₹10 per gram and ₹100 per 10 grams from Tuesday’s rate of ₹255 per gram, or ₹2,550 per 10 grams. Wednesday’s gain fully erases Tuesday’s decline, restoring the national rate to exactly where it stood on Monday, May 4 before the brief mid-week pullback interrupted what had been a strong rebound from the prior week’s lows.

The recovery is in line with easing crude oil prices and a softer dollar, both of which typically provide a tailwind for commodity prices including silver and keeps the metal comfortably within its recent ₹2,500 – ₹2,700 trading band at the national level.

City-Wise Silver Prices — Wednesday vs Tuesday

The ₹100-per-10-gram bounce on Wednesday was uniform across all ten major Indian cities tracked, with every market recovering the full extent of Tuesday’s decline in a clean and synchronised move that reflects the dominance of international price drivers over any localised demand variation. Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara and Ahmedabad which had all slipped to ₹2,550 per 10 grams on Tuesday have bounced back to ₹2,650 per 10 grams on Wednesday, matching the national benchmark and restoring rates to Monday’s levels.

Chennai, Hyderabad and Kerala, which carry a persistent ₹50 structural premium over the national benchmark, have similarly recovered by ₹100 per 10 grams to quote ₹2,700 today, after having retreated to ₹2,600 on Tuesday maintaining their traditional premium spread intact even as the direction reversed. The premium trio’s ₹50 differential above the benchmark cities has been a consistent feature of India’s silver market geography through April and May, driven by higher localised jewellery and industrial demand in these southern and coastal markets that keeps their rates structurally above the national average regardless of the broader price direction.

Gold Prices

Gold prices in India rose sharply on Wednesday, with the national benchmark for 24-karat gold climbing ₹2,130 per 10 grams to ₹1,51,310, recovering the entirety of Tuesday’s decline of ₹1,750 and then some, as Trump’s Hormuz pause announcement boosted global risk sentiment and lifted bullion. The 22-karat rate advanced ₹1,950 per 10 grams to ₹1,38,700, while the 18-karat rate gained ₹1,590 to ₹1,13,480 per 10 grams, with all three purities erasing Tuesday’s losses in a single session. At the per-gram level, 24K gold is quoted at ₹15,131, 22K at ₹13,870, and 18K at ₹11,348, with Wednesday’s gains nudging all three purities back above their recent multi-session support levels. Chennai commands the highest 24K gold rate in India at ₹1,53,280 per 10 grams, a ₹1,970 premium over the national benchmark, while Mumbai, Kolkata, Bangalore, Hyderabad, Kerala and Pune all align at the national rate of ₹1,51,310.

Silver Rates Across Indian Cities — 10 Grams: Wednesday vs Tuesday

★ Chennai, Hyderabad and Kerala carry a persistent ₹50 premium over the national benchmark.

Source:

• goodreturns.in | Prices for 10 grams of silver