Silver Price Today –
11 May 2026
International spot silver at $80.32/oz — up +7% last week, highest since mid-March. India’s silver rate at ₹280/gram in Delhi & Kerala (₹275/gram national average). 6th consecutive supply deficit, CPI release tomorrow — here’s everything you need to know.
- Silver Rate Today India — ₹/gram, ₹/10g, ₹/kg (11 May 2026)
- City-Wise Silver Rates — 11 May 2026
- MCX Silver Rate Today — Support & Resistance Levels
- International Silver Spot Price (USD)
- Silver Price This Week — Day-by-Day Recap
- Top News Moving Silver Prices Right Now
- Why is Silver Price High in May 2026?
- Key Events This Week That Could Move Silver
- Silver Price Forecast 2026 — Expert Targets
- How to Buy Silver in India — Best Options 2026
- FAQ — Frequently Asked Questions
Looking for aaj ka chandi ka bhav? It’s a strong Monday morning for silver. 11 May 2026 — silver is at ₹280/gram in Delhi and Kerala (₹275/gram national average), while international spot closed Friday at $80.32/oz, silver’s highest level since mid-March and heading into this week with a +7% weekly gain under its belt. The April US CPI data tomorrow is this week’s biggest trigger. Here’s your complete, fully updated guide.
🪙 Silver Rate Today in India — 11 May 2026
On 11 May 2026, silver in India is priced at: ₹280 per gram (₹2,80,000/kg) in Delhi and Kerala, and ₹275 per gram (₹2,75,000/kg) for most other major cities, per Goodreturns and Policybazaar data sourced from bullion dealers nationwide. Patna is slightly lower at ₹274.90/gram. In May 2026, Delhi silver has ranged between ₹260 and ₹280 per gram.
Rates above are indicative and exclude 3% GST and making charges. Your actual purchase price will be higher. Indian buyers also pay roughly 10.75% import duty, which is why India’s domestic silver price is approximately 15–18% above international spot. Always buy from BIS-certified dealers for hallmarked silver.
🏙️ City-Wise Silver Rate Today — 11 May 2026
Silver rates vary city to city due to local taxes, import duty allocation, and bullion association pricing. Here is today’s complete city-wise rate table:
| City | ₹ per Gram | ₹ per 10g | ₹ per 100g | ₹ per Kg | May Range |
|---|---|---|---|---|---|
| Delhi | ₹280 | ₹2,800 | ₹28,000 | ₹2,80,000 | ₹260–₹280/g |
| Mumbai | ₹275 | ₹2,750 | ₹27,500 | ₹2,75,000 | ₹255–₹280/g |
| Chennai | ₹275 | ₹2,750 | ₹27,500 | ₹2,75,000 | ₹255–₹276/g |
| Kolkata | ₹275 | ₹2,750 | ₹27,500 | ₹2,75,000 | ₹255–₹278/g |
| Bengaluru | ₹275 | ₹2,750 | ₹27,500 | ₹2,75,000 | ₹255–₹278/g |
| Hyderabad | ₹275 | ₹2,750 | ₹27,500 | ₹2,75,000 | ₹255–₹278/g |
| Ahmedabad | ₹275 | ₹2,750 | ₹27,500 | ₹2,75,000 | ₹255–₹278/g |
| Pune | ₹275 | ₹2,750 | ₹27,500 | ₹2,75,000 | ₹255–₹278/g |
| Kerala | ₹280 | ₹2,800 | ₹28,000 | ₹2,80,000 | ₹260–₹280/g |
| Jaipur | ₹275 | ₹2,750 | ₹27,500 | ₹2,75,000 | ₹255–₹278/g |
| Lucknow | ₹275 | ₹2,750 | ₹27,500 | ₹2,75,000 | ₹255–₹278/g |
| Patna | ₹274.90 | ₹2,749 | ₹27,490 | ₹2,74,900 | ₹255–₹278/g |
*Indicative retail rates as of 11 May 2026 morning from Goodreturns & Policybazaar. Exclude 3% GST and making charges. Delhi and Kerala at ₹280/gram; other major cities at ₹275/gram. Verify with your local dealer before purchase.
📊 MCX Silver Rate Today — Support & Resistance
On the Multi-Commodity Exchange (MCX), silver July futures are trading at approximately ₹2,55,351 per kg — up 0.82% on the day. The silver spot market in India is trading near ₹2,75,000–₹2,80,000 per kg. Traders should monitor the following key technical levels for today’s session:
As of May 8, silver futures show a Strong Buy daily signal on technical indicators (Investing.com). Silver broke above the key $76.55 resistance in late April and has held above the EMA50. The $82–$83 zone is the next major resistance. A decisive close above $83/oz could trigger an extension toward $90/oz. (CoinDCX, May 2026)
🌍 International Silver Spot Price — 11 May 2026
Spot silver (XAG/USD) closed at $80.32 per troy ounce on Friday, May 8 — up 2.50% on the day and marking silver’s highest level since mid-March 2026. The metal surged above $80/oz for a weekly gain of over 7%, driven by optimism over a potential US-Iran peace deal easing inflation concerns. On May 7, silver reached $81.19/oz (+5.22% on the day) — its most powerful single-session gain in weeks.
| Metric | Value | Context |
|---|---|---|
| Spot Price (May 8, 2026) | $80.32/oz | ▲ +2.50% on day |
| May 7 Price (USAGOLD) | $81.19/oz | +$4.03 / +5.22% single day |
| Per Gram (USD) | $2.58 | 999 fine silver |
| Per Kilogram (USD) | $2,583 | International spot |
| 1-Month Change | +6.65% | Trading Economics data |
| Year-on-Year Change | +145.54% | vs. May 2025 (~$32/oz) |
| Weekly Gain (last week) | +7%+ | Highest since mid-March |
| % Below ATH ($121.67) | −33.9% | ATH: Jan 29, 2026 (APMEX) |
| Gold/Silver Ratio | ~58.4× | USAGOLD May 7 data |
| USD/INR | ₹94.44 | Goodreturns, May 11 |
Silver has more than doubled since May 2025 (~$32/oz) — outpacing gold’s 41.58% YoY gain by 3.5×. Despite a 33.9% pullback from January’s ATH of $121.67, silver remains in a structural bull market underpinned by the 6th consecutive annual supply deficit.
📆 Silver Price This Week — Day-by-Day Recap
Last week was silver’s best week in over a month. Here’s how prices moved day by day:
“Silver rose above $80 per ounce on Friday, marking its highest level since mid-March, heading for a weekly gain of over 7% as optimism over a potential US-Iran peace deal helped ease fears that stubborn inflation could prolong high interest rates.” — Trading Economics, May 8, 2026
📰 Top News Moving Silver Prices Right Now
Iran confirmed it is reviewing the US peace memorandum sent through Pakistani mediators. Trump confirmed the ceasefire is “in effect” despite last week’s naval clashes in the Strait of Hormuz. A successful deal would reopen Hormuz, lower oil prices, ease inflation, and reduce the Fed’s urgency to keep rates high — a powerful bullish catalyst for silver.
The April Consumer Price Index (CPI) releases tomorrow, May 12. Chicago Fed President Goolsbee has already warned that inflation has “accelerated since the war began.” A higher CPI reading would push silver toward the $82–$83 resistance zone and potentially beyond. A softer reading may cause short-term profit booking toward $76–$77 support.
The Silver Institute’s 2026 annual forecast confirmed a 67 million ounce supply deficit — the sixth consecutive year that global demand has outpaced mine supply. Above-ground inventories have declined by 762 million ounces over 5 deficit years. This structural squeeze means that when investment demand returns, price responses are amplified.
Global solar PV manufacturing consumed ~160 million ounces of silver in 2025 (+15% YoY). EV production is scaling rapidly toward 40M+ units by 2030, each requiring 25–50 grams of silver. AI data center infrastructure demand is growing rapidly. These structural demand drivers are independent of geopolitical cycles.
📈 Why is Silver Price Rising in May 2026?
The ongoing conflict has kept Strait of Hormuz partially blocked, driving global energy and inflation higher — creating safe-haven demand for silver as both a monetary and industrial hedge.
The dollar fell 0.1% on Thursday as Iran peace optimism grew. Silver, priced in USD, becomes cheaper for international buyers when the dollar weakens — directly amplifying demand and prices.
The Silver Institute forecasts a 67 Moz shortfall in 2026 — 15% wider than 2025. Mine supply grows at just 1–2% annually while demand from industrial and investment sectors surges far faster.
Silver’s irreplaceable role in solar panels, EV batteries, AI chips, and 5G infrastructure creates structural industrial demand that is entirely independent of financial market cycles.
A successful US-Iran peace deal would lower oil prices → reduce inflation → pressure Fed to cut rates → compress gold-silver ratio → historically supercharges silver outperformance vs gold.
Indian silver investment demand built on 2025’s gains. Silver ETF inflows are rising, and retail buyers see silver as gold’s more accessible alternative at ₹275–₹280/gram vs. ₹15,235/gram for 24K gold.
📅 Key Events This Week That Could Move Silver (11–15 May)
| Date | Event | Impact on Silver |
|---|---|---|
| 11 May (Today) | Markets reopen; US-Iran peace update expected | Medium — watch for Iran’s response via Pakistan |
| 12 May (Tue) | 🚨 April US CPI Data | HIGH — Key price direction trigger |
| 13 May (Wed) | April US PPI Data | Medium — wholesale inflation signal |
| 14 May (Thu) | US Retail Sales + Jobless Claims | Medium — economic strength indicator |
| 15 May (Fri) | University of Michigan Sentiment (inflation expectations) | Medium — consumer inflation outlook |
| Ongoing | US-Iran peace negotiations via Pakistan | HIGH — peace deal = potential big rally |
If you are planning to buy silver this week, note that tomorrow’s April CPI (May 12) could cause intraday MCX silver moves of ₹5,000–₹12,000 per kg. A hotter CPI is bullish; a softer CPI may cause a short-term dip. Consider splitting your purchase across 2–3 days to average your price, rather than buying in one go before the CPI print.
🔮 Silver Price Forecast 2026 — Where Is It Headed?
Silver’s all-time high was $121.67/oz on January 29, 2026. It then fell ~44% as the CME raised margin requirements and speculative positions unwound. Now at ~$80/oz — 33.9% below the ATH — structural fundamentals are strengthening again: the 6th deficit is widening, industrial demand is growing, and a Fed rate cut in H2 2026 could be the spark for a major new leg higher.
| Institution | Silver Target (USD) | India (est. ₹/kg) | Timeframe |
|---|---|---|---|
| J.P. Morgan | $81/oz avg; $85 in Q4 | ~₹2,62,000–₹2,76,000 | Full year 2026 |
| Commerzbank | $90/oz | ~₹2,92,000 | Year-end 2026 |
| CoinDCX base case | $90–$106/oz | ~₹2.9L–₹3.4L | End 2026 |
| CoinCodex algorithm | $94.55/oz | ~₹3.06L | Next 7 days |
| CoinCodex year-end | $135.35/oz | ~₹4.4L | Dec 2026 |
| Bank of America (bull) | $135–$309/oz | ~₹4.4L–₹10L | If physical shortages intensify |
| LBMA Survey avg | $79.57/oz | ~₹2,58,000 | 2026 average |
| Bear case | $60–$65/oz | ~₹1.95L–₹2.1L | If dollar spikes, demand collapses |
Per CoinDCX’s May 2026 analysis: “If silver decisively breaks above $82–$83 resistance, the rally could extend toward $85 and potentially retest $90/oz in the coming weeks.” On MCX, this corresponds to approximately ₹2,65,000–₹2,75,000 per kg. Watch tomorrow’s CPI for the catalyst.
💼 How to Buy Silver in India — Best Options 2026
- Silver ETFs (NSE/BSE) — Best option for most investors. SEBI-regulated, backed by 99.9% physical silver in approved vaults. Buy and sell like shares on Zerodha, Groww, or Upstox. Zero making charges. Options include HDFC Silver ETF, ICICI Silver ETF, Nippon India Silver ETF. Ideal for SIP investors.
- Silver Mutual Funds — No demat account needed. Silver ETF funds-of-funds allow monthly SIP from any amount. Best for salaried investors who want automatic, disciplined accumulation. Options: DSP Silver ETF FOF, Aditya Birla Silver ETF FOF.
- Physical Silver Bars & Coins — Buy 100g, 500g, or 1kg BIS hallmarked bars from MMTC-PAMP, India Post, or certified bullion dealers. Ensure HUID number. Store in a bank locker. Best for those wanting tangible silver ownership as a long-term wealth store.
- Digital Silver (PhonePe / Paytm / GPay) — Start from ₹1. Backed by physical 24K silver in secure vaults by MMTC-PAMP or Augmont. Easy entry for first-time investors. Note: not yet fully SEBI-regulated — use only large, reputed platforms.
- MCX Silver Futures — For experienced traders only. MCX Silver (30 kg lot) and Silver Mini (1 kg lot) allow leveraged trading. High risk — not suitable for retail investors without futures experience. Useful for hedging physical silver holdings.
Never buy silver jewellery purely as an investment — making charges of 15–30% make it inefficient. Avoid unverified sellers on social media and OLX. Always insist on a BIS Hallmark receipt with HUID number for physical purchases. For capital gains tax: silver held over 3 years qualifies for LTCG at 20% with indexation (verify current rules with your CA).
❓ Frequently Asked Questions
On 11 May 2026, silver is priced at ₹280 per gram (₹2,80,000/kg) in Delhi and Kerala and ₹275 per gram (₹2,75,000/kg) in most other cities including Mumbai, Bengaluru, Hyderabad, and Chennai. Patna is slightly lower at ₹274.90/gram. These are indicative rates excluding 3% GST and making charges.
Aaj 11 May 2026 ko Delhi mein chandi ka bhav ₹280 per gram aur ₹2,80,000 per kilogram hai. Most cities mein ₹275 per gram ya ₹2,75,000 per kilogram hai. 10 gram chandi ki kimat ₹2,750–₹2,800 hai. Ye rates indicative hain — inme 3% GST aur making charges shamil nahi hain. Sahi rate ke liye apne nearest bullion dealer se confirm karein.
International spot silver (XAG/USD) closed at $80.32 per troy ounce on May 8, 2026 — up 2.50% and the highest since mid-March. On May 7, silver hit $81.55/oz. It is up 145.54% year-on-year from ~$32/oz in May 2025. May 9–10 were non-trading days; markets reopened Monday, May 11.
MCX Silver July futures are trading at approximately ₹2,55,351 per kg on Monday, May 11 — up 0.82% on the day. Key support levels are ₹2,49,100 and ₹2,45,500. Key resistance levels are ₹2,58,000 and ₹2,61,000. A breakout above ₹2,61,000 could target ₹2,75,000+. Monitor May 12 CPI for the week’s direction.
Silver surged +7% last week because: (1) Iran peace deal optimism lowered oil prices, easing inflation fears; (2) a weaker US dollar made silver cheaper for international buyers; (3) the US jobs report showed 115,000 jobs added (vs 62,000 expected), reducing recession fears and boosting industrial demand sentiment; and (4) strong technical momentum after silver broke above the $76.55 resistance level. Silver’s outsized move vs. gold (ratio narrowed to 58.4×) reflects its leverage to peace deal scenarios.
The short-term bull case: if tomorrow’s CPI is hot and/or US-Iran peace talks progress, silver could push toward $82–$83 resistance (MCX: ~₹2,65,000–₹2,70,000/kg) this week. A sustained break above $83 targets $85–$90 (MCX: ~₹2,76,000–₹2,92,000/kg). The bear case: if the dollar rebounds sharply or CPI cools unexpectedly, silver could test ₹2,49,000 support before rebounding. Longer-term, J.P. Morgan’s $81 average and Commerzbank’s $90 year-end target remain the base-to-bull range.
Silver is 33.9% below its January 2026 all-time high of $121.67 — meaning buyers today are getting a meaningful discount from the peak. The sixth consecutive supply deficit is structural and widening. A Fed rate cut in H2 2026 could be a powerful catalyst. For long-term investors using Silver ETFs or SIPs, the current ₹275–₹280/gram range represents a reasonable accumulation zone. However, given the CPI release tomorrow, splitting purchases across this week is prudent. Always consult a SEBI-registered financial advisor.
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