Silver prices in Delhi declined on May 19, 2026, with silver trading at ₹285 per gram and ₹2,85,000 per kilogram, down ₹5 per gram and ₹5,000 per kilogram compared with the previous trading session.
In the national capital, 10 grams of silver is priced at ₹2,850, while 100 grams costs ₹28,500. Yesterday, the same quantities were priced at ₹2,900 and ₹29,000 respectively.
The decline in domestic silver prices mirrors weakness in international precious metal markets. Global silver prices moved toward $76 per ounce on Tuesday as investors reacted cautiously to ongoing geopolitical tensions and rising inflation concerns.
Market sentiment remained volatile after US President Donald Trump indicated that progress toward a possible peace agreement with Iran could emerge. However, traders continue to remain cautious as uncertainty surrounding the West Asia conflict persists.
Precious metals, including silver, have faced pressure in recent weeks due to surging crude oil prices, which have intensified global inflation concerns. Elevated oil prices have increased expectations that central banks, including the US Federal Reserve, may maintain higher interest rates for longer.
Rising US inflation has also reduced market expectations for Federal Reserve rate cuts this year. Some traders are now even pricing in the possibility of another US rate hike before the end of 2026.
Investors are now awaiting upcoming FOMC minutes and fresh US PMI data for further clarity on interest rate direction and economic activity.
Among major Indian cities, Delhi continued to trade in line with Mumbai, Kolkata, Bengaluru, Pune, Vadodara and Ahmedabad at ₹2,85,000 per kilogram. Chennai, Hyderabad and Kerala remained at a premium near ₹3,00,000 per kilogram.
Silver prices remain highly sensitive to global macroeconomic developments, including geopolitical tensions, crude oil movement, US dollar strength and expectations around monetary policy.
Disclaimer: Precious metal prices are subject to daily market fluctuations and may vary across cities and jewellers. The information provided is for informational purposes only and should not be considered investment advice.