Silver Prices in India Decline 2.02% Amid Strong Dollar and Rising Oil Prices

On 13 April 2026, the price of 1 gm of silver was ₹239, and the price of 1 kg of silver was ₹238,890, reflecting a loss of 2.02% compared to its previous close. Meanwhile, the 10 gm silver rate is at ₹2,389. Silver prices in India are largely influenced by international spot silver rates, US dollar fluctuations, and import duties on silver among other things. Silver prices are trending down on the back of a firm dollar and a surge in oil prices, which has stoked inflationary concerns yet again. Oil prices surged over failed peace talks between Washington and Tehran, followed by US President Donald Trump announcing a complete blockade of the Strait of Hormuz , effective from Monday. This has weighed on the white metal, as expectations of tighter monetary policy by central banks globally have dented investor demand ALSO READ Silver Rate Today 10th April 2026: Silver is down by 0.27%; check prices in Mumbai, Bengaluru, Hyderabad, Delhi, Ahmedabad Currently, markets weigh in no expectations of a rate cut by the US Federal Reserve , against the pre-war forecasts of two rate cuts by the Fed in February. Analysts expect silver prices to edge down in the near term due to a firm dollar and high oil prices. Markets continue to monitor the West Asia conflict and tanker movement through the Hormuz route, which will further dictate oil prices and provide cues for silver prices. “A decisive break below Rs 2,37,000 could accelerate selling toward the Rs 2,35,000–Rs 2,33,000 range. While the overall tone remains cautious, with macro factors offering limited support, momentum appears weak and lacks conviction to sustain any meaningful recovery,” said Ponmudi R, CEO of Enrich Money. Retail investors are advised to track not just domestic rates but also international trends before making buying decisions. ALSO READ Gold Rate Today 10th April 2026: Gold is down by 0.17%; check prices in Mumbai, Chennai, Delhi, Bengaluru