Silver Price Crosses Rs 3 Lakh Per Kg in India Amid Import Duty Hike, Hyderabad Rates Surge
Silver prices crossed Rs 3 lakh per kg in India on May 13, 2026, after the import duty hike and rising global tensions involving Iran and the US. Hyderabad silver rates also surged sharply.
Hyderabad: Silver prices witnessed a massive surge across India on May 13, 2026, with rates crossing Rs 3 lakh per kilogram after the Central government increased import duties on precious metals. In Hyderabad, silver prices touched nearly Rs 3 lakh per kg, while market analysts linked the rise to global economic uncertainty and increasing tensions in West Asia.
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According to market data, silver futures on MCX climbed sharply after the Indian government raised import duties on gold and silver from 6 percent to 15 percent. International concerns related to tensions involving Iran, the United States, and possible disruptions in the Strait of Hormuz also added pressure to commodity markets.
Silver Prices Rise Sharply Across India
Silver prices increased significantly within a week. Reports showed that silver, which was trading around Rs 2,55,000 per kg on May 5, rose to nearly Rs 3,00,000 to Rs 3,10,000 per kg on May 13, 2026.
In Hyderabad, silver prices were reported close to Rs 3,00,100 per kg in retail markets. The price of 10 grams of silver was around Rs 3,000 to Rs 3,100 depending on the market.
Market experts stated that the sudden rise was mainly driven by the increase in import duties and strong global demand for safe-haven assets.
MCX Silver Futures See Major Jump
Commodity market data showed that silver futures on the Multi Commodity Exchange (MCX) surged sharply during trading on Tuesday.
Gold prices also moved upward following the duty hike announcement. Traders reported heavy volatility in precious metal markets throughout the day.
Analysts said fears regarding crude oil supply disruptions through the Strait of Hormuz contributed to investor uncertainty. Around 20 percent of the world’s oil supply passes through the strategic route, making global markets sensitive to geopolitical tensions in West Asia.
West Asia Tensions Impact Global Markets
Market observers said concerns related to Iran-US tensions and the possibility of disruptions in oil transportation increased pressure on global commodity prices.
The rising crude oil prices also influenced investor sentiment toward gold and silver as safe investment options.
However, no verified official statement was found regarding claims circulating on social media that Prime Minister Narendra Modi appealed to people not to buy gold.
Silver Prices Remain at Record High Levels
Silver prices remained at record levels on May 13, 2026, with rates crossing Rs 3 lakh per kilogram in several Indian markets after the import duty hike and global uncertainty.
Experts said the market may continue to remain volatile due to international developments, especially tensions in West Asia and movements in crude oil prices.
Silver prices crossed Rs 3 lakh per kg in India on May 13, 2026, following the government’s import duty increase and growing global uncertainty linked to West Asia tensions. Hyderabad markets also witnessed a sharp rise in silver rates, while analysts warned that geopolitical developments and crude oil supply concerns may continue to impact precious metal prices in the coming days.
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