Silver prices experienced a notable increase of ₹7,100, reaching ₹2.40 lakh per kilogram in futures trade on Thursday, driven by positive trends in international markets following the US Federal Reserve’s decision to keep its benchmark interest rates unchanged.
On the Multi Commodity Exchange, the May contract for silver surged by ₹7,100, representing a rise of 3.04 percent, to ₹2,40,300 per kilogram with a business turnover of 509 lots. The July contract also saw an increase of ₹5,488, or 2.3 percent, climbing to ₹2,43,742 per kilogram in a volume of 7,635 lots.
Analysts noted that the increase in precious metals was influenced by the US Federal Reserve’s decision to maintain rates steady for the third consecutive meeting, which helped bolster domestic metal prices. In the international market, Comex silver futures for June rose by $1.79, or 2.49 percent, to $73.88 per ounce in New York.
The US central bank stated, “In support of its goals, the committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent.”
Umesh Sharma, Chief Investment Officer of The Wealth Company, commented that the Federal Open Market Committee delivered a widely anticipated “hawkish pause” by keeping the policy rate unchanged while emphasizing an inflation-first approach. He noted that this decision indicates policymakers’ ongoing concerns regarding stalled disinflation and potential risks associated with rising energy prices.
Additionally, Jerome Powell announced his intention to step down as Chair at the end of his term but will remain as a Fed Governor, indicating a continuity of leadership during the transition.
Published on April 30, 2026.
