Silver Price Today: Silver Becomes Cheaper on May 29; Check Latest Rates in Delhi, UP, Bihar and Other Cities

Silver prices witnessed a slight decline on Friday, May 29, 2026, providing some relief to buyers and investors tracking precious metal markets. Compared to the previous trading session, silver rates have dropped by ₹100 per kilogram in several major cities across the country.

The latest market data shows that silver is now trading at ₹2,74,900 per kilogram in many northern and western Indian cities, including Delhi, Mumbai, Lucknow, Patna, Ahmedabad, and Chandigarh. On a smaller scale, the price works out to approximately ₹2,749 per 10 grams.

The decline comes amid ongoing fluctuations in global precious metal markets, where investor sentiment continues to be influenced by geopolitical developments, currency movements, and changing expectations regarding interest rates.

Silver Prices Slip Across Major Indian Markets

The bullion market opened with lower silver prices on Friday, extending the recent trend of volatility in precious metals.

Traders reported that silver rates eased marginally from the previous day, reflecting subdued demand and broader market uncertainty.

For consumers planning to purchase silver jewelry, utensils, coins, or investment-grade bullion, the latest correction could offer a favorable buying opportunity.

Silver Rates in Delhi, Mumbai, UP, Bihar and Other Cities

Several major cities across India are currently witnessing similar silver prices.

Silver Price Per Kilogram

These rates indicate a nationwide trend of softer silver prices in many key markets.

Chennai and Hyderabad Continue to Trade Higher

While most northern and western cities are reporting silver prices below ₹2.75 lakh per kilogram, southern markets continue to command a premium.

Silver Prices in Southern India

The difference of approximately ₹10,000 per kilogram compared to several northern cities reflects regional demand patterns, transportation costs, local taxes, and market dynamics.

Why Do Silver Prices Differ Across Cities?

Silver prices can vary from one city to another due to several factors, including:

• Local demand and supply conditions

• Transportation and logistics expenses

• Regional taxes and charges

• Dealer margins

• Market competition

• Import-related costs

As a result, even when international silver prices remain stable, local rates may differ across regions.

What Is Driving Silver Market Movements?

The performance of silver continues to be influenced by multiple global and domestic factors.

Key drivers include:

Geopolitical Developments

International political events often affect investor sentiment toward precious metals.

US Dollar Movement

A stronger US dollar can place pressure on gold and silver prices, while a weaker dollar may support demand.

Industrial Demand

Unlike gold, silver has significant industrial applications in sectors such as:

• Solar energy

• Electronics

• Electric vehicles

• Medical equipment

Changes in industrial demand can directly impact silver prices.

Interest Rate Expectations

Investors closely monitor central bank policies, particularly those of the US Federal Reserve, as higher interest rates can reduce the attractiveness of non-yielding assets like precious metals.

Silver's Remarkable Rally Earlier This Year

Despite the recent decline, silver has delivered significant gains over the past year.

Earlier in 2026, silver prices in India surged beyond the ₹4 lakh per kilogram mark, reaching record levels amid strong global demand and market uncertainty.

Although prices have corrected from those highs, silver remains one of the most closely watched commodities among investors and jewelry buyers.

Should Buyers Consider Purchasing Now?

Market experts suggest that individuals planning long-term purchases should focus on overall investment goals rather than short-term price fluctuations.

Before purchasing silver, buyers should:

• Compare rates from multiple dealers.

• Verify purity certifications.

• Check hallmarking details where applicable.

• Understand making charges on jewelry purchases.

• Monitor market trends and global developments.

Outlook for Silver Prices

Analysts believe silver prices may remain volatile in the near term as investors react to global economic data, geopolitical developments, and precious metal demand trends.

Any major shift in international markets, inflation expectations, or central bank policies could influence the direction of silver prices in the coming weeks.

For now, Friday's decline has made silver slightly more affordable for consumers, while investors continue to monitor market conditions for future opportunities.

Disclaimer: Precious metal prices change frequently based on market conditions and may vary by city, dealer, and product type. Buyers should verify the latest rates before making any purchase or investment decision.