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Silver Price Today: Silver prices witnessed a sharp decline of nearly 3 per cent on Friday, driven by rising crude oil prices, a strengthening US dollar, and growing inflation concerns across global markets.
In early trading hours (around 6:45 AM), spot silver was down approximately 2.4 per cent, losing about USD 1.90 to trade near USD 81.53. Despite this short-term drop, silver still posted a weekly gain of around 1.4 per cent, indicating underlying resilience in the market.
On the domestic front, MCX silver futures showed relative stability, ending slightly higher by 0.1 per cent or Rs 148, settling at approximately Rs 2,91,250.
Oil Prices and Inflation Concerns Weigh on Silver
Crude oil prices continued their upward momentum, adding pressure to global commodity markets. West Texas Intermediate (WTI) hovered near USD 102 per barrel, while Brent crude traded close to USD 107. Both benchmarks recorded weekly gains of 7.5 per cent and 5.7 per cent, respectively.
Rising oil prices are fueling inflation fears globally, increasing the likelihood of tighter monetary policy. This environment typically strengthens the US dollar while reducing the appeal of non-yielding assets like silver.
Strong US Dollar Adds Pressure
The US Dollar Index, which tracks the greenback against six major currencies, rose by around 1 per cent during the week and was trading near 99.04 in the early hours. A stronger dollar makes silver more expensive for investors holding other currencies, thereby reducing global demand.
Inflation Data and Federal Reserve Expectations
Recent economic data showed US consumer prices rising for the second consecutive month in April, marking the highest annual inflation increase in nearly three years. This has strengthened expectations that the US Federal Reserve may maintain higher interest rates for an extended period.
Higher interest rates generally reduce demand for precious metals like silver, as they increase the opportunity cost of holding non-yielding assets.
Market Outlook
Investors are closely monitoring global economic developments, including geopolitical and trade-related updates, which continue to influence commodity market sentiment.
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 | 3,000 | 30,000 | 3,00,000 |
| Silver Prices in Mumbai | 3,000 | 30,000 | 3,00,000 |
| Silver Prices in Kolkata | 3,000 | 30,000 | 3,00,000 |
| Silver Prices in Chennai | 3,150 | 31,500 | 3,15,000 |
| Silver Prices in Patna | 3,000 | 30,000 | 3,00,000 |
| Silver Prices in Lucknow | 3,000 | 30,000 | 3,00,000 |
| Silver Prices in Bengaluru | 3,000 | 30,000 | 3,00,000 |
| Silver Prices in Noida | 3,000 | 30,000 | 3,00,000 |
| Silver Prices in Chandigarh | 3,000 | 30,000 | 3,00,000 |
Silver prices are mostly uniform at Rs 3,000 per 10g across Delhi, Mumbai, Kolkata, Patna, Lucknow, Bengaluru, Noida and Chandigarh, while Chennai is slightly higher at ₹3,150 per 10g and proportionally higher overall.
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 2,87,350 per kg | Rs 2,87,193 per kg |
*Silver 999 means pure silver with 99.9 per cent purity.
The above prices are as of May 14.
(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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