Silver prices registered a slight uptick on Wednesday, 26 November, marking the second consecutive day of positive movement. After a sharp jump of nearly ₹4,000 per kilogram on Tuesday, the metal continued its upward trend today, gaining an additional ₹100. This indicates early signs of stability after weeks of consistent decline.
As of Wednesday morning, the price of silver in the national capital stands firm at ₹1,67,100 per kilogram. Similar rates have been recorded in several other major cities, though southern markets continue to reflect slightly higher prices.
Over the past several days, silver had been slipping steadily across major northern cities, including Delhi, Uttar Pradesh, and Bihar, as well as metros like Mumbai, Chennai, and Hyderabad. However, the downward trend now appears to be slowing.
Just last month, silver had surged to an annual high of around ₹2,06,000 per kilogram. Following that peak, the metal went through a prolonged correction phase, pulling prices substantially downward. Despite today’s marginal rise, silver prices still remain far below the highs seen earlier, suggesting that full recovery may take more time.
The price disparity between northern and southern regions continues. While most major northern cities are aligned at ₹1,67,100 per kilogram, Chennai and Hyderabad are quoting significantly higher prices at ₹1,74,100 per kilogram — a difference of about ₹7,000.
| City | 1 kg Silver Price (₹) |
|---|---|
| Delhi | 1,67,100 |
| Mumbai | 1,67,100 |
| Ahmedabad | 1,67,100 |
| Chennai | 1,74,100 |
| Kolkata | 1,67,100 |
| Gurugram | 1,67,100 |
| Lucknow | 1,67,100 |
| Bengaluru | 1,67,100 |
| Jaipur | 1,67,100 |
| Patna | 1,67,100 |
| Bhubaneswar | 1,67,100 |
| Hyderabad | 1,74,100 |
Silver is no longer just a precious metal associated with jewellery or traditional artefacts. Its industrial demand has surged dramatically in recent years. Modern sectors — particularly electronics and renewable energy — now depend heavily on silver.
Electronics Industry: Mobile phones, laptops, and high-performance computer chips use silver components due to its superior conductivity.
Machinery & Equipment: Various industrial machines require silver-based components for efficient functioning.
Solar Energy: Solar panel manufacturers are now among the biggest consumers of silver, as the metal is crucial for photovoltaic cell production.
This broad industrial demand is keeping long-term expectations for silver strong. With consumption rising and supply limitations becoming more evident globally, analysts believe silver may gradually trend upward after the current consolidation phase.
While the recent bounce in prices is modest, it signals that the metal may be stabilising after a significant correction. Investors and consumers should keep an eye on global market cues, industrial demand patterns, and currency movements, as these will collectively shape silver’s direction in the coming weeks.
For now, silver remains affordable compared to last month’s peak, but continued industrial usage could push prices higher over time.
