Silver Rate Today, May 29: 999 silver prices in Mumbai, Delhi, Kolkata, Chennai, other cities

Silver prices after declining in the previous session rose today. According to Goodreturns.in, the precious white metal climbed by ₹5,000 today to ₹2.8 lakh per kg.

For the last few days, silver prices remained steady in the retail market.

On the India Bullion and Jewellers Association (IBJA) website, silver 999 traded at ₹2,63,966 per kg, while it quoted at ₹2,61,710 per kg on May 27, 2026.

Factors influencing silver price today

Even as silver prices surged in the retail market, prices on the Multi Commodity Exchange (MCX) traded soft. At around 12:10 pm (IST), silver July futures traded with a cut of 0.64% or ₹1,717 at ₹2,67,820 per kg.

Meanwhile, US silver futures also was down by 0.24% at $75.733 per ounce.

The prices are down as uncertainty persists in the ongoing Middle East crisis even as reports suggest a possible extension in the ceasefire between the US and Iran.

Inflation in the US reportedly increased at its fastest rate in three years in April on the back of energy-driven costs given the ongoing Iran crisis. The higher-than-expected inflation print reignited hopes that the Federal Reserve may hold current interest rates for a longer period of time, potentially extending into the next year.

Higher-for-longer interest rates weigh on non-yielding assets like silver among others.