Silver Prices Surge Again: Rates Jump by ₹5,000 Per Kg Across Major Indian Cities

Silver prices witnessed another sharp rally on May 7, with rates climbing significantly in bullion markets across India. The precious metal became costlier by nearly ₹5,000 per kilogram compared to the previous trading session, reflecting strong momentum in both domestic and international markets.

According to the latest bullion market data, silver prices in most Indian states were trading around ₹2,70,000 to ₹2,75,000 per kilogram on Thursday. The surge comes amid growing investor interest in precious metals, fueled by a weaker US dollar, easing geopolitical tensions, and improving sentiment in global commodity markets.

Market experts say both gold and silver continue to benefit from international developments, especially expectations surrounding a possible diplomatic breakthrough between the United States and Iran.

Silver Extends Rally in Domestic Market

The rise in silver prices was visible across nearly all major Indian cities during early trading on May 7.

In Delhi, Mumbai, Ahmedabad, Kolkata, Jaipur, Bhopal, Lucknow, and Chandigarh, silver prices were trading near ₹2,70,000 per kilogram.

Meanwhile, southern cities including Chennai and Hyderabad recorded even higher prices, with silver touching approximately ₹2,75,000 per kilogram. Kerala also reported rates close to ₹2,75,000.

Analysts believe regional demand, transportation costs, and local bullion market trends often create small price differences between northern and southern states.

The latest jump has once again attracted attention from investors, jewellery buyers, and traders who closely track movements in precious metals.

Global Market Trends Push Silver Higher

The rally in domestic silver prices follows strong gains in the international bullion market.

Spot silver in global trading rose by nearly 1.26 percent, reaching around $78.27 per ounce. Gold prices also moved upward during the session, climbing approximately 0.37 percent to trade near $4,711.80 per ounce.

Experts say global investor confidence improved after reports suggested that the United States and Iran could move toward a potential peace agreement. Reduced geopolitical tensions in West Asia often stabilize global trade expectations and improve overall market sentiment.

At the same time, a weaker US dollar has further supported precious metals. Since gold and silver are globally priced in dollars, a weaker greenback typically makes these commodities more attractive for international investors.

MCX Silver Futures Also Move Higher

The bullish momentum was also visible on India’s Multi Commodity Exchange (MCX).

Silver contracts for July delivery were trading around ₹2,55,382 per kilogram, registering a gain of approximately 0.84 percent during early trade.

Gold futures also moved upward on MCX. June delivery contracts climbed nearly 0.28 percent, touching ₹1,52,553 per 10 grams.

Commodity analysts say investors are increasingly turning toward precious metals as safe-haven assets amid uncertainty in global financial markets.

Analysts Predict Further Upside

Market observers believe silver may continue its upward movement if global conditions remain favorable.

According to recent trading patterns, silver recovered strongly from support levels near ₹2,43,000 per kilogram. Analysts now estimate that the metal could trade between ₹2,54,000 and ₹2,56,000 in the near term if buying momentum continues.

Gold is also showing strength after rebounding from the ₹1,49,000 level. Some experts believe gold could potentially move closer to ₹1,55,000 per 10 grams in the coming sessions.

However, analysts also warn that precious metal prices remain highly sensitive to international developments, currency movements, interest rate expectations, and geopolitical news.

Silver Rates in Major Indian Cities on May 7

Here are the latest silver prices recorded in key Indian cities on Thursday:

Why Precious Metals Are in Focus Again

Precious metals like gold and silver often gain popularity during periods of economic uncertainty, inflation concerns, currency weakness, or geopolitical instability.

While gold is traditionally viewed as a safe-haven investment, silver has a dual role because it is used both as an investment asset and in industrial applications, including electronics, solar energy, medical equipment, and manufacturing.

Strong industrial demand, combined with investment buying, frequently causes silver prices to move more sharply than gold.

Experts say the recent surge highlights how sensitive commodity markets remain to global developments. Investors are now closely monitoring central bank policies, crude oil prices, inflation trends, and international diplomatic negotiations for further direction.

With volatility expected to continue, bullion traders believe precious metals could remain in focus throughout the coming weeks.