Silver prices in Pune on May 12, 2026 stand at ₹2,90,000 per kilogram, ₹29,000 per 100 grams, and ₹2,900 per 10 grams. The price has jumped ₹15,000 per kilogram from yesterday’s rate of ₹2,75,000 — a single-day increase of 5.45% — reflecting Monday’s extraordinary global silver rally flowing through into Tuesday’s domestic physical market prices.
Pune’s rates match the standard national benchmark shared with Mumbai, Delhi, Kolkata, Bengaluru, Vadodara, and Ahmedabad. Chennai, Hyderabad, and Kerala trade at a premium of ₹10,000 per kilogram at ₹3,00,000 per kilogram.
What drove silver ₹15,000 higher overnight?
Silver surged more than 7% to a two-month high globally on Monday — one of the sharpest single-day moves in recent months — driven by its unique dual identity as both a safe-haven asset and a critical industrial commodity. President Trump’s declaration that the US-Iran ceasefire was “on massive life support” after rejecting Tehran’s latest peace proposal crushed near-term hopes of a Middle East resolution, pushing Brent crude above $105 and triggering safe-haven buying across precious metals. Simultaneously, silver’s non-substitutable role in solar panels, electric vehicles, advanced semiconductors, and medical devices activated industrial demand anxiety — the same geopolitical event triggering both demand channels at once.
Tuesday’s easing toward $85 per ounce is a partial consolidation of Monday’s move rather than a reversal. The rupee’s fresh all-time low of 95.58 against the dollar further amplifies Pune’s silver prices in rupee terms, as India imports virtually all of its silver requirements priced in US dollars.
Pune’s silver market profile
Pune’s silver market is driven by Maharashtra’s strong silverware gifting traditions — silver utensils, decorative items, and jewellery are deeply embedded in Maharashtrian wedding and religious customs. Laxmi Road in old Pune houses the city’s traditional silver and jewellery trading hub, alongside modern retail corridors in Aundh, Baner, and Koregaon Park where branded silver retailers have established a significant presence.
Pune’s proximity to Mumbai means the two cities track each other almost identically on silver prices, with bullion flowing from Mumbai’s import infrastructure to Pune’s wholesale markets within hours. The cities share the same Maharashtra levy structure and have effectively formed a single price zone for precious metals.
Pune’s growing manufacturing and engineering sector — including automotive component makers, electronics manufacturers, and defence contractors — creates an institutional silver demand segment driven by industrial procurement rather than jewellery or investment buying, providing a structural floor under the city’s silver consumption independent of cultural demand cycles.
Silver versus gold in Pune on May 12
In Pune, 24 carat gold stands at ₹15,398 per gram while silver is at ₹290 per gram — a gold-silver ratio of approximately 53:1. Silver is offering stronger near-term price momentum than gold following Monday’s 7% surge, at a fraction of gold’s absolute price per gram — making it more accessible for the broader range of buyers across Pune’s diverse economic spectrum.
Silver price table for Pune — May 12, 2026
1 gram: ₹290. 10 grams: ₹2,900. 100 grams: ₹29,000. 1 kilogram: ₹2,90,000.
Yesterday: ₹2,75,000/kg. Change: +₹15,000/kg (+5.45%).
Silver rates are indicative and exclude GST, TCS, and other levies. Contact your local bullion dealer for exact rates. This article is for informational purposes only and does not constitute investment advice.