Silver prices in Vadodara 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.
Vadodara’s rates match the standard national benchmark shared with Mumbai, Delhi, Kolkata, Bengaluru, Pune, and Ahmedabad. Chennai, Hyderabad, and Kerala trade at a premium of ₹10,000 per kilogram at ₹3,00,000 per kilogram. Vadodara and Ahmedabad are identical on all silver denominations — as is typical given their shared Gujarat state levy structure and deeply integrated bullion supply chain.
What drove silver ₹15,000 higher overnight?
Silver surged more than 7% to a two-month high globally on Monday — driven by the metal’s unique dual demand engine. 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, semiconductors, and medical devices activated industrial demand anxiety — the same geopolitical event triggering both of silver’s demand channels at once, producing an outsized move relative to gold.
Tuesday’s easing toward $85 per ounce internationally is a partial consolidation of Monday’s extraordinary move rather than a reversal. The rupee’s fresh all-time low of 95.58 against the dollar provides an additional amplification layer — since India imports virtually all its silver priced in US dollars, every unit of rupee depreciation directly raises effective domestic prices.
Vadodara’s silver market profile
Vadodara’s silver market is shaped by Gujarat’s large and commercially sophisticated trading communities — particularly the Gujarati business community with deep traditions of silver gifting at weddings, festivals, and religious occasions. The Mandvi and Sayajigunj areas house the city’s traditional precious metals traders alongside modern retail formats serving Vadodara’s growing middle-class population.
Gujarat’s strong industrial base adds an institutional dimension to Vadodara’s silver demand. The city is home to major petrochemical, pharmaceutical, and engineering manufacturing operations — several of which use silver in industrial processes — creating procurement-driven silver demand independent of jewellery or investment cycles. The Dahej and Nandesari industrial estates near Vadodara include chemical and pharmaceutical manufacturers with direct silver input requirements.
Vadodara’s heatwave conditions on May 12 — with temperatures forecast to reach 40-43°C — may reduce afternoon footfall at the city’s physical precious metals markets, concentrating trading activity in the cooler morning hours when bullion dealers and buyers are most active.
The diamond-silver connection
Vadodara sits within Gujarat’s broader gem and jewellery manufacturing ecosystem anchored by Surat’s diamond industry. Several Gujarat jewellery manufacturers produce silver-diamond combination pieces — a segment that combines Surat’s diamond processing expertise with Gujarat’s silver jewellery manufacturing tradition. Elevated silver prices on May 12 create an immediate input cost pressure for these manufacturers, particularly those with forward orders priced before Monday’s surge.
Silver versus gold in Vadodara on May 12
In Vadodara, 24 carat gold stands at ₹15,403 per gram while silver is at ₹290 per gram — a gold-silver ratio of approximately 53:1. Silver’s stronger near-term momentum following Monday’s 7% surge makes it the more dynamic precious metals story in Vadodara on May 12, at a fraction of gold’s absolute price per gram.
Silver price table for Vadodara — 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%).
Vadodara matches Ahmedabad and the standard national baseline. Chennai, Hyderabad, and Kerala trade at ₹3,00,000/kg.
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.