Silver prices in India registered a sharp decline on Tuesday, May 5, with rates dropping by as much as Rs 5,000 per kilogram. According to market data, the precious metal was trading at Rs 2,55,000 per kilogram in most major bullion markets across the country.
The downward movement in silver came despite a mildly positive opening in international markets. In early global trade, spot silver edged up 0.11 per cent to trade at 73.65 US dollars per ounce. However, this marginal international uptick failed to support domestic rates.
Market analysts observed that gold displayed a slightly divergent trend during the same session. International spot gold rose nearly 0.38 per cent, reaching 4,550.70 US dollars per ounce. On the Multi Commodity Exchange (MCX), gold futures for June delivery traded 0.1 per cent higher at Rs 1,49,490 per 10 grams.
In contrast, silver futures on the MCX slipped 0.12 per cent, settling at Rs 2,43,600 per kilogram. Broader market sentiment remained under pressure as the Indian rupee weakened past the 95.05 mark. This depreciation was attributed to sustained foreign investor selling and crude oil prices holding firmly above the 100-dollar level.
Among major Indian cities, silver was uniformly priced at Rs 2,55,000 per kilogram in Delhi, Mumbai, Ahmedabad, Kolkata, Lucknow, Jaipur, Bhopal, and Chandigarh. The rates across Uttar Pradesh and Bihar also aligned with this pan-India price level.
However, southern markets commanded a notable premium. In Chennai and Hyderabad, silver was trading significantly higher at approximately Rs 2,69,900 per kilogram. Kerala also recorded similar elevated levels, in line with the prevailing trend in the southern region, where the white metal consistently traded at a higher range compared to the rest of the country.
Here is the silver rate data for Tuesday, May 5, 2026, presented in a clear English table:
Silver Rates in Bullion Market (May 5, 2026)
| City | Price per 1 Kilogram (INR) |
| Delhi | 2,55,000 |
| Mumbai | 2,55,000 |
| Ahmedabad | 2,55,000 |
| Chennai | 2,69,900 |
| Kolkata | 2,55,000 |
| Kerala | 2,69,900 |
| Jaipur | 2,55,000 |
| Bhopal | 2,55,000 |
| Lucknow | 2,55,000 |
| Chandigarh | 2,55,000 |
