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Silver prices recorded a slight increase on Friday, May 8, as bullion markets continued witnessing steady movement amid changing precious metal trends. According to the latest market update, silver prices rose by nearly ₹100 per kilogram compared to the previous session.

The current price of silver in India stood at approximately ₹2,75,100 per kilogram in major southern markets, while rates in several northern and western cities were trading around ₹2,70,100 per kilogram. Meanwhile, the retail rate for 10 grams of silver was recorded at around ₹2,751.

Experts say investors and jewellery buyers are closely monitoring precious metal prices due to ongoing volatility in global markets and rising demand for alternative investment assets.

Silver Rates in Delhi, UP, Bihar and Major Cities

According to bullion market data, silver prices in major cities including Delhi, Mumbai, Ahmedabad, Kolkata, Uttar Pradesh, Bihar, and Chandigarh were trading around ₹2,70,100 per kilogram.

However, prices remained slightly higher in southern markets such as Chennai and Hyderabad, where silver rates touched nearly ₹2,75,100 per kilogram.

Latest Silver Rates on Friday, May 8, 2026

Why Silver Prices Are Rising

Commodity market analysts believe silver prices are currently being influenced by a combination of global economic uncertainty, inflation concerns, industrial demand, and investor sentiment.

Silver is not only considered a precious metal for jewellery and investment but is also widely used in industries such as electronics, solar panels, medical equipment, and electric vehicles. Rising industrial demand often plays an important role in supporting silver prices globally.

At the same time, investors frequently move toward precious metals like gold and silver during periods of stock market volatility and economic uncertainty, treating them as relatively safer assets.

Southern India Continues to See Higher Rates

Jewellery traders say silver prices in southern states generally remain slightly higher compared to several northern regions due to differences in local demand, transportation costs, and regional market dynamics.

Cities like Chennai and Hyderabad have traditionally maintained strong demand for silver jewellery, utensils, decorative items, and investment products, especially during wedding and festive seasons.

Precious Metals Demand Changing Across India

With gold prices rising sharply over recent months, many consumers are now showing greater interest in silver and platinum as comparatively affordable alternatives.

Jewellery retailers report increasing demand for lightweight silver ornaments, silver coins, gifting products, and investment bars among middle-class buyers.

Younger consumers are also exploring silver jewellery because of its modern styling, lower entry cost, and fashionable appeal.

Experts Advise Buyers to Compare Rates

Bullion experts recommend that customers compare rates across jewellers before making purchases, especially during periods of rapid price fluctuations.

Buyers are also advised to check purity certification, hallmark details, making charges, and GST implications before purchasing silver jewellery or investment products.

Since silver prices are closely linked to international market movements and currency fluctuations, rates may continue witnessing volatility in the coming weeks.

For now, the latest increase indicates that silver continues attracting both investors and jewellery buyers amid ongoing uncertainty in broader financial markets.