Silver Rate Today: Silver Prices Fall on Friday, Check Latest Rates in Delhi, UP, Bihar and Other Cities

Silver prices witnessed a noticeable decline on Friday, May 15, 2026, after recent sharp gains in the bullion market. Following the Indian government’s decision to raise import duty on gold and silver from 6% to 15%, precious metal prices had surged significantly over the past few days. However, both gold and silver prices came under pressure today due to global market weakness and cautious investor sentiment.

According to the latest bullion market data, silver prices in India dropped to around ₹2,99,900 per kilogram, bringing the rate of 10 grams of silver close to ₹2,999. Investors and jewellery buyers are now closely watching international market movements and domestic policy changes for further direction.

Why Are Silver Prices Falling?

Market analysts say several global factors triggered the decline in silver and gold prices.

A major reason is the strengthening of the US dollar after inflation data in the United States came in higher than expected. Rising inflation increased concerns that the US Federal Reserve may delay interest rate cuts, which strengthened bond yields and reduced investor interest in non-interest-bearing assets like gold and silver.

Apart from this, investors remained cautious ahead of a possible meeting between Donald Trump and Xi Jinping, which also contributed to market uncertainty.

Sharp Fall in MCX Silver Prices

The domestic commodities market also reflected heavy selling pressure. On the Multi Commodity Exchange (MCX), silver prices reportedly fell by nearly 4%, declining by ₹11,644 per kilogram to around ₹2,79,458 per kilogram.

Gold prices on MCX also weakened sharply, with gold futures falling by ₹1,623 to around ₹1,60,355 per 10 grams.

In the international market, spot silver declined by nearly 3.1% to around $80.93 per ounce, while spot gold continued its fourth straight session of losses and traded near $4,613 per ounce.

Government’s Import Duty Decision Still Impacting Market

The Indian government recently increased import duty on gold and silver from 6% to 15% in an effort to reduce imports and protect foreign exchange reserves.

With additional taxes included, the effective tax burden on imported gold and silver has reportedly increased to nearly 18.45%. The government has also tightened import rules under the Advance Authorization Scheme by fixing a 100-kilogram import limit for gold.

India remains one of the world’s largest consumers of precious metals, especially for jewellery demand, making import policy changes highly influential on domestic prices.

Silver Prices in Major Indian Cities

Why Southern Cities Have Higher Rates

Silver prices in southern regions like Chennai and Hyderabad are currently higher than rates in northern states. Market experts attribute this difference to local demand, transportation costs, taxes, and regional bullion market trends.

Market Outlook

Analysts believe precious metal prices may continue to remain volatile due to global inflation concerns, movements in the US dollar, geopolitical developments, and changing import policies in India.

Investors are advised to monitor international market trends and currency movements before making major buying decisions in gold or silver.