Silver Rate Today, May 15: How much you have to pay for 999 silver

Silver prices have continued to drop and erased almost the gains post the import duty hike announced on May 12, 2026. The government in a bid to preserve the country's forex and support the domestic currency announced an increase in import duty to 15%.

At India Bullion Jewellers Association (IBJA), the price of silver 999 today quoted at ₹2,67,500 per kg. On the previous day, it was priced at ₹2,87,193 in the evening.

Senco Gold: 1 kg 999 purity silver will cost ₹3,38,767 per kg ( the rates are inclusive of GST and making charges)

Joyalukkas: 20 gm silver bar costs ₹7,268.

eBullion: Silver of 99.99% purity is priced at ₹271.27/ gm, down by ₹17.3.

Factors influencing silver price today

Silver prices on the MCX are trading with a sharp gap-down. At around 1 pm, silver July futures traded with a significant cut of 4.1% or ₹14,002 at ₹2,77,100. The day's high and low prices are ₹2,83,219 and ₹2,72,267, respectively. In the previous session, silver futures ended at ₹2,91,102 per kg.

Silver prices are experiencing a much greater impact, along with heightened volatility, compared with gold. Experts primarily are of the view that after the hike in import duty, the prices have come down due to profit booking in the metals.

Rising and escalating tensions in the Middle East, continued oil price rise and the gains in the dollar index and the US yield are checking any gains on the bullion.

Alongside, after the energy-led inflation increase in April in the US, the hopes around interest rate cut have largely diminished, and higher-for-longer interest rates are largely negative for bullion as precious metals are a non-interest yielding asset class.

Meanwhile, investors are keeping a close watch on the high-level between US President Donald Trump and his Chinese counterpart Xi Jinping in Beijing.

On the domestic front, in order to control the fiscal deficit and bring in more accountability, the Centre has restricted duty-free gold import limit to 100 kg.