Silver Rate Today, May 7: How much you have to pay for 999 silver

Silver price in today (May 7, 2026) continued to advance for the second day as investors awaited positive development in the ongoing conflict in the Middle East.

Over the last 10 day, silver prices after swinging between gains and losses, has been hovering between ₹2.6 lakh to ₹ 2.7 lakh.

On Thursday, silver prices quoted at ₹2.7 lakh per kg.

Senco Gold: 1 kg 999 purity silver will cost ₹3,16,107 per kg ( the rates are inclusive of GST and making charges)

Joyalukkas: 20 gm silver bar costs ₹6,345.

Factors influencing silver rate today

Silver rates continued to rally, witnessing strong gains, as the dollar index showed a downward trend. Dollar's losses prove to be positive for the white metal. This is as silver priced in dollar becomes cheaper for holders of other currencies.

On the MCX, silver July futures traded with sharp gains at the day's high price of ₹ 2,64,963, up ₹ 11698 or 4.62%.

The rally in the white metal is seen on hopes a potential peace deal between the US and Iran. Alongside, the softening in the crude oil price to below $110 per barrel also lent support to the white metal

On the US-Iran war front, as per the latest reports, the US and Iran are considering a short term memorandum, aiming to stop the current crisis instead of reaching a full peace deal.

Internationally, US silver futures traded higher by 6.5%, with prices scaling past $80 per ounce.