Silver prices in India have continued to witness strong volatility, with rates rising sharply over the past week despite recent corrections in the bullion market.
According to the latest market updates, silver prices have increased by nearly ₹5,000 per kilogram on a weekly basis. As of the morning of May 17, 2026, silver is reportedly trading around ₹2,80,000 per kilogram in several major cities across the country.
Although silver has gained significantly during the week, the market also saw heavy correction recently.
On May 15, silver prices in Delhi bullion markets reportedly dropped by:
Following the correction, silver prices fell to nearly ₹2,75,000 per kilogram.
Market experts attribute this sharp decline mainly to:
Analysts say several domestic and international factors are influencing precious metal prices.
Reports suggest concerns linked to the Strait of Hormuz and unresolved tensions involving Iran continue to create uncertainty in global energy markets.
Any disruption in oil and gas supply routes may increase inflationary pressure worldwide, pushing investors toward safe-haven assets such as gold and silver.
In international markets, spot silver prices were reportedly trading near:
Global precious metal prices continue to react strongly to:
Here are the latest reported silver prices for May 17, 2026:
| City | Silver Price Per Kg (₹) |
|---|---|
| Delhi | ₹2,80,000 |
| Mumbai | ₹2,80,000 |
| Ahmedabad | ₹2,80,000 |
| Chennai | ₹2,90,000 |
| Kolkata | ₹2,80,000 |
| Hyderabad | ₹2,80,000 |
| Jaipur | ₹2,80,000 |
| Bhopal | ₹2,80,000 |
| Lucknow | ₹2,80,000 |
| Thiruvananthapuram | ₹2,90,000 |
Among major cities, Chennai and Thiruvananthapuram currently have some of the highest silver prices.
The government has also announced stricter rules regarding silver imports.
According to reports:
The Directorate General of Foreign Trade (DGFT) reportedly issued the notification with immediate effect.
The revised policy also covers:
The import restrictions reportedly will not apply to:
However, the condition remains that imported goods should not be sold in the domestic market.
Earlier this month, the government reportedly increased import duty on:
The import duty was raised from:
With additional taxes like IGST included, the effective duty is now reportedly above 18%.
Experts believe the move is aimed at:
According to commerce ministry data mentioned in reports:
For FY 2025–26:
In volume terms:
Market experts say silver may continue to remain highly volatile in the coming weeks because of:
Investors are generally advised to:
Silver continues to attract attention both as an industrial metal and a traditional investment asset during periods of economic uncertainty.
