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Silver prices witnessed another sharp decline on Wednesday, May 20, extending their losing streak for the second consecutive day in the bullion market. After falling by ₹5,000 per kilogram on Tuesday, silver prices dropped by another ₹5,000 today, taking the total decline over two trading sessions to a massive ₹10,000 per kilogram.

The sudden correction in silver prices has caught the attention of both investors and jewellery buyers, especially at a time when precious metals have been witnessing high volatility in domestic and global markets.

According to the latest bullion market rates, silver is now trading around ₹2,80,000 per kilogram in most major Indian cities. This means the price of 10 grams of silver has slipped to nearly ₹2,800.

Market experts believe the decline is being driven by weak global commodity sentiment, reduced industrial demand, and profit booking after the recent rally in precious metals. Despite the fall, analysts expect silver prices to remain volatile in the coming weeks due to global economic uncertainty and changing interest rate expectations.

Here is a detailed look at the latest silver prices across India and the factors influencing the recent decline.

Silver Prices Fall Sharply for Second Straight Day

Silver had witnessed a strong rally earlier this month, supported by rising global demand and geopolitical uncertainty. However, the trend reversed sharply this week as investors started booking profits and industrial demand weakened.

The white metal has now corrected significantly in just two days. Traders in the bullion market say global cues, movement in the US dollar, and changing investor sentiment are currently driving silver prices.

Compared to gold, silver is more sensitive to industrial demand because it is widely used in sectors such as electronics, solar energy, automobiles, medical equipment, and manufacturing.

Any slowdown in industrial activity or concerns about global economic growth often impacts silver prices more aggressively.

Latest Silver Rates in Major Indian Cities

The latest bullion market data shows that silver prices are currently trading at around ₹2,80,000 per kilogram across several major Indian cities, including Delhi, Mumbai, Uttar Pradesh, Bihar, Ahmedabad, and Chandigarh.

Silver Rate Today – 20 May 2026

City	Silver Price Per Kilogram
Delhi	₹2,80,000
Mumbai	₹2,80,000
Ahmedabad	₹2,80,000
Chennai	₹2,85,000
Kolkata	₹2,80,000
Kerala	₹2,85,000
Jaipur	₹2,80,000
Bhopal	₹2,80,000
Lucknow	₹2,80,000
Chandigarh	₹2,80,000

Among the major markets, Chennai and Kerala continue to report the highest silver prices at around ₹2,85,000 per kilogram, which is slightly higher than rates in northern Indian cities.

Why Are Silver Prices Falling?

Commodity analysts believe several factors are currently pressuring silver prices.

Weak Industrial Demand

Unlike gold, silver is heavily dependent on industrial usage. A slowdown in manufacturing demand globally has reduced buying interest in silver, putting pressure on prices.

Stronger Dollar Movement

A stronger US dollar often impacts precious metals negatively because commodities priced in dollars become more expensive for international buyers. This can reduce global demand and trigger price corrections.

Profit Booking by Investors

Silver prices had rallied sharply in recent weeks, prompting traders and investors to book profits after touching higher levels. Such corrections are common in volatile commodity markets.

Expectations Around US Interest Rates

Investors are also closely monitoring signals from the US Federal Reserve regarding future interest rate decisions. Higher interest rates generally reduce the appeal of non-interest-bearing assets such as precious metals.

Is This the Right Time to Buy Silver?

Many jewellery buyers and retail investors may see the recent correction as a buying opportunity. However, experts advise caution because precious metal prices are expected to remain highly volatile in the short term.

Analysts suggest that long-term investors should avoid making decisions based solely on sudden price drops and instead focus on gradual accumulation strategies.

For jewellery buyers, the recent decline may offer some relief after silver prices had surged significantly over the past few months.

What Could Move Silver Prices Next?

Market participants are now watching several important global developments that may influence silver prices in the coming days:

• US Federal Reserve policy signals
• Global interest rate outlook
• Industrial demand trends
• Movement in crude oil prices
• US dollar strength
• Geopolitical developments in West Asia

Experts believe bullion prices may continue witnessing sharp fluctuations as global markets react to economic data and central bank commentary.

Gold and Silver Trends Moving Differently

Interestingly, while silver prices have corrected sharply, gold prices have remained relatively stronger due to continued safe-haven demand from investors.

Gold usually benefits during periods of uncertainty, while silver often reacts more strongly to industrial demand cycles. This difference explains why the two precious metals are currently showing opposite short-term trends.

For investors, diversification and careful monitoring of market conditions remain important before making fresh investments in bullion assets.

Disclaimer: Precious metal prices fluctuate daily based on domestic and international market conditions. Investors should consult certified financial advisors before making any investment decisions in gold or silver.

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