Silver Prices Slip on May 6: Check Latest Silver Rates in Delhi, UP, Bihar and Other Major Cities
Silver prices witnessed a slight decline on Wednesday, May 6, as bullion markets across India showed mixed movement amid changing global economic conditions. According to market reports, silver became cheaper by around ₹100 per kilogram compared to the previous trading session.
Despite the small correction in domestic retail prices, international precious metal markets remained largely positive during early trading hours, supported by a weaker US dollar and softening crude oil prices.
Investors and bullion traders are closely monitoring both global and domestic trends as precious metals continue to react sharply to geopolitical developments and currency fluctuations.
Silver Prices Ease Slightly in IndiaAccording to bullion market updates, silver prices in most major Indian cities were reported at:
₹2,54,900 per kilogramThe slight dip comes after recent volatility in both gold and silver prices over the past few sessions.
Market experts say silver prices remain highly sensitive to:
- Global economic conditions
- Dollar movement
- Industrial demand
- Commodity market sentiment
- Geopolitical tensions
Global precious metal prices reportedly moved higher during early trading on May 6.
International spot gold reportedly climbed:
Around 1.41%to reach:
$4,632.90 per ounceMeanwhile, silver prices in the international market rose:
Around 2.49%to:
$75.41 per ounceAnalysts say a weaker US dollar and softer crude oil prices helped support precious metals globally.
MCX Gold and Silver Prices Also RiseThe positive global trend was also reflected in the domestic futures market.
On the Multi Commodity Exchange of India (MCX):
- June gold contracts reportedly rose 1.36% to ₹1,51,788 per 10 grams
- July silver contracts reportedly gained 2.54% and traded near ₹2,50,525 per kilogram
Commodity traders say bullion markets are currently reacting strongly to global geopolitical developments.
Crude Oil Prices Also DeclineReports suggest international crude oil prices softened amid expectations that tensions between the United States and Iran could ease.
According to market updates:
- Brent crude reportedly fell to $108.35 per barrel
- US WTI crude slipped to $100.77 per barrel
Lower crude oil prices often influence investor sentiment in commodity markets, including precious metals.
Latest Silver Rates in Major Indian CitiesHere are the latest reported silver prices for May 6 across major Indian cities:
City Silver Price (Per Kg)| Delhi | ₹2,54,900 |
| Mumbai | ₹2,54,900 |
| Ahmedabad | ₹2,54,900 |
| Kolkata | ₹2,54,900 |
| Jaipur | ₹2,54,900 |
| Bhopal | ₹2,54,900 |
| Lucknow | ₹2,54,900 |
| Chandigarh | ₹2,54,900 |
| Chennai | ₹2,64,900 |
| Hyderabad | ₹2,64,900 |
| Kerala | ₹2,64,900 |
According to bullion traders, silver prices in southern cities such as:
- Chennai
- Hyderabad
remain higher compared to several northern cities.
This variation may happen due to:
- Local taxes
- Transportation costs
- Regional demand
- Jeweller pricing patterns
Silver remains an important investment option in India for:
- Jewellery purchases
- Industrial use
- Portfolio diversification
- Long-term savings
Experts say both gold and silver may continue to witness volatility in the coming days depending on:
- Dollar index movement
- Crude oil prices
- US Federal Reserve decisions
- Geopolitical developments
- International commodity market trends
Investors are being advised to stay updated with daily bullion market movements before making major buying or investment decisions.