Silver Slips Again on Tuesday; National Rate Falls ₹50 to ₹2,850 per 10 gm

Mumbai, May 19: Silver prices in India resumed their downward trajectory on Tuesday after Monday’s brief stabilisation, with the national rate slipping ₹5 per gram to ₹285, or ₹2,850 per 10 grams and ₹2,85,000 per kilogram — a decline of ₹50 per 10 grams from Monday’s ₹2,900.

The fresh dip extends the post-tariff correction to four of the past five sessions, with the metal now having retreated ₹250 per 10 grams from Wednesday’s spike-high of ₹3,100 — unwinding a quarter of the ₹1,000 surge that accompanied the government’s decision to more than double precious metal import duties to 15 per cent. Monday’s one-day stabilisation, which had offered tentative hope of a price floor forming around the ₹2,900 level, proved short-lived as selling pressure returned on Tuesday.

The resumption of the decline suggests that the market has not yet fully adjusted to the post-tariff equilibrium, with buyers and sellers still negotiating the new normal created by the elevated import levy.

The city-wise picture on Tuesday shows a clear divergence between the southern premium markets and the national benchmark cities. Chennai, Hyderabad and Kerala held firm at ₹3,000 per 10 grams, unchanged from Monday’s rate and maintaining their ₹150 premium over the national benchmark — a resilience that points to sustained local demand even as the broader market softens. In contrast, Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara and Ahmedabad all declined by ₹50 per 10 grams to ₹2,850, in line with the national rate, suggesting that discretionary buying in the more price-sensitive metro markets is being deferred as consumers wait for further clarity on whether the post-tariff correction has further to run. The divergence between Chennai’s steadiness and the benchmark cities’ renewed weakness underscores how structural regional demand — particularly from Tamil Nadu’s deep-rooted silverware and festival buying culture — is providing support even in a broadly softening market.

Gold Prices

Gold prices in India bucked the silver trend on Tuesday, with 24-karat gold rising to ₹1,57,040 per 10 grams — up ₹820 from Monday’s ₹1,56,220 — snapping a three-session losing streak. The 22-karat rate advanced to ₹1,43,950 per 10 grams, gaining ₹750 over Monday’s close, while 18-karat gold climbed to ₹1,17,780 per 10 grams, recovering ₹610. Chennai quoted the highest 24-karat rate at ₹1,62,220 per 10 grams, while Mumbai, Kolkata and other benchmark cities held at the national rate of ₹1,57,040. The divergence between gold’s Tuesday rebound and silver’s continued slide suggests the two metals are at different stages of their post-tariff price discovery, with gold’s higher absolute value and investor profile giving it greater resilience at this point in the correction.

10 Gram Silver Prices: Tuesday vs Monday — City-Wise Comparison

Source: goodreturns.in | Tuesday, May 19, 2026