Silver Rate Today, May 13: What is the price of 100 gm 999 silver in major cities after duty hike

Silver prices on May 13, 2026 (Wednesday), after the government's steep import tariff hike to 15% from the earlier 6%, witnessed a phenomenal surge. 1 kg silver has surged in price by ₹20,000 to ₹3.1 lakh per kg.

To curb the centre's import bill which is already under pressure amid energy crisis, the government rolled back to the 15% duty. In 2022-23, a similar duty of 15% was levied on precious metals.

Senco Gold: 1 kg 999 purity silver will cost ₹3,64,826 per kg ( the rates are inclusive of GST and making charges)

Joyalukkas: 20 gm silver bar costs ₹7,614.

Factors influencing silver rate today

On the domestic front, prices today are more of a function of the hike in import duty on the precious metals implemented from today. Even the price for already held inventory will see an increase as per experts.

Internationally, silver futures are trading with gains of 2.2% at $87.470 per ounce.

Nonetheless, in view of the hike in import duty, silver prices after rallying significantly hit the day's high price of ₹3,01,429. At around 1 pm (IST), after witnessing some profit booking, silver prices traded at ₹2,97107, up ₹18,045 of 6.5%.