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Silver prices continued their downward trend for the third consecutive session on Monday, pressured by a stronger US dollar and escalating geopolitical tensions in West Asia.
As of 7:30 am, silver was down 1.3 per cent (USD 1) at USD 74.99. Earlier in the session, prices touched their lowest level since May 6. In the domestic market, silver futures for the July contract closed 0.24 per cent lower at Rs 2,71,226.
US dollar strength pressures silver prices
The recent decline in silver prices is largely attributed to the strengthening US dollar, which gained support from rising safe-haven demand amid heightened tensions between the United States and Iran.
The US Dollar Index, which measures the greenback against a basket of six major currencies, rose 0.1 per cent to 99.36.
A stronger dollar typically makes silver more expensive for overseas buyers, reducing demand and putting downward pressure on global bullion prices.
Geopolitical tensions in West Asia drive market volatility
Investor sentiment was further impacted by rising geopolitical tensions in West Asia. US President Donald Trump warned Iran that the “clock is ticking” for a peace agreement and stated there “won’t be anything left of them” if Tehran fails to comply.
These developments have increased global market uncertainty and boosted safe-haven demand for the US dollar, indirectly weighing on silver prices.
Crude oil rally adds inflation concerns
At the same time, crude oil prices surged sharply due to geopolitical risks. Rising oil prices have fueled inflation concerns, reducing expectations of near-term interest rate cuts by the US Federal Reserve.
Higher inflation and sustained oil price gains could keep interest rates elevated for longer, further limiting upside potential for non-yielding assets like silver.
Interest rate outlook and Fed policy in focus
Higher interest rates typically reduce the attractiveness of precious metals such as silver, which do not generate interest income. Additionally, rising rates tend to strengthen the US dollar, adding further pressure on silver prices.
Market participants are now closely watching the upcoming release of the US Federal Reserve’s May FOMC meeting minutes.
These minutes are expected to provide key insights into the Fed’s outlook on inflation, interest rates, and economic growth. Any hawkish signals could further influence silver prices, the US dollar, and global commodity markets.
Silver prices are likely to remain volatile in the near term as investors track geopolitical developments, US dollar movements, crude oil trends, and signals from the Federal Reserve.
Today Silver Rate in India (City-wise: 10g, 100g, 1kg)
| City | 10 Gram Silver Rate | 100 Gram Silver Rate | 1 Kg Silver Rate |
| Silver Prices in Delhi | 2,800 | 28,000 | 2,80,000 |
| Silver Prices in Mumbai | 2,800 | 28,000 | 2,80,000 |
| Silver Prices in Kolkata | 2,800 | 28,000 | 2,80,000 |
| Silver Prices in Chennai | 2,900 | 29,000 | 2,90,000 |
| Silver Prices in Patna | 2,800 | 28,000 | 2,80,000 |
| Silver Prices in Lucknow | 2,800 | 28,000 | 2,80,000 |
| Silver Prices in Bengaluru | 2,800 | 28,000 | 2,80,000 |
| Silver Prices in Noida | 2,800 | 28,000 | 2,80,000 |
| Silver Prices in Chandigarh | 2,800 | 28,000 | 2,80,000 |
Silver prices remain largely uniform across most Indian cities at Rs 2,800 per 10 grams and Rs 2,80,000 per kg. Chennai shows a slight premium at Rs 2,900 per 10 grams, indicating marginal regional variation amid otherwise stable nationwide pricing trends.
The India Bullion and Jewellers Association (IBJA) sets the daily “base price” of silver in India, which serves as the national benchmark for bullion rates. In simple terms, IBJA rates act as the reference price across the country.
| Purity | Morning Silver Price | Evening Silver Price |
| Silver 999* | Rs 2,67,500 per kg | Rs 2,68,500 per kg |
*Silver 999 means pure silver with 99.9 per cent purity.
The above prices are as of May 15.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
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