Silver prices in India fell on Wednesday, November 11, with rates dropping by Rs. 5,000 per kg across several major cities. According to Goodreturns, silver was priced at Rs. 2,00,000 per kilogram in Hyderabad, down from Rs. 2,05,000 per kg the previous day.
The latest decline comes amid continued volatility in the global bullion market. Movements in international silver prices, fluctuations in the US dollar, interest rate expectations and changes in industrial demand remain key factors influencing the metal's trajectory.
Silver has a dual role in the market. While it is purchased as a precious metal for investment and jewelry, it is also an important raw material for industries such as electronics, solar energy and electric vehicle manufacturing. This combination makes its price movements sensitive to both financial market trends and industrial activity.
According to Goodreturns, silver in Hyderabad was priced at Rs. 200 per gram on November 11. The rate for 10 grams stood at Rs. 2,000, while 100 grams was available at Rs. 20,000.
On a kilogram basis, the metal traded at Rs. 2 lakh, down Rs. 5,000 from Tuesday's price of Rs. 2.05 lakh.
The latest movement follows a series of fluctuations in the domestic market. Silver prices in Hyderabad had touched Rs. 2.10 lakh per kg on November 5 before falling to Rs. 2.05 lakh the following day. Rates remained at that level over the subsequent sessions before declining again on Wednesday.
The broader monthly trend also reflects the pressure on silver prices. According to Goodreturns, the metal was priced at Rs. 2.40 lakh per kg in Hyderabad on October 1. By October 31, the rate had fallen to Rs. 2 lakh per kg.
Silver prices remained aligned across several major Indian markets on Wednesday. According to Goodreturns, the metal was available at Rs. 2 lakh per kg in Hyderabad, Bengaluru, Chennai, Mumbai, and Delhi.
The latest city-wise rates are:
| City | Silver Price Per Kg |
|---|---|
| Hyderabad | Rs. 2,00,000 |
| Bengaluru | Rs. 2,00,000 |
| Chennai | Rs. 2,00,000 |
| Mumbai | Rs. 2,00,000 |
| Delhi | Rs. 2,00,000 |
While indicative rates are similar across these cities, the final price consumers pay may vary. Local bullion market conditions, dealer margins, purity, GST, and other applicable charges can affect the purchase price.
Several domestic and international factors determine silver prices. Unlike gold, the metal has substantial industrial demand, which means its performance is linked not only to investor activity but also to manufacturing and consumption trends.
Global Market Movements: International spot silver prices remain one of the biggest influences on domestic rates. Changes in global bullion prices, driven by economic data, investor sentiment, and market uncertainty, are reflected in Indian prices.
US Dollar and Interest Rates: Silver is traded globally in US dollars. A stronger dollar can make the metal expensive for buyers holding other currencies, potentially limiting demand. Interest rate movements also influence investment decisions, as higher rates can reduce the appeal of non-yielding assets such as silver.
Industrial Consumption: Demand from solar panel manufacturers, electronics companies, and electric vehicle producers plays an important role in determining silver prices. Any slowdown in these industries can affect consumption, while stronger manufacturing activity can support demand.
US Federal Reserve Policy: Investors closely monitor the US Federal Reserve's monetary policy decisions. Expectations of interest rate cuts can support precious metals, while tighter monetary conditions can weigh on prices. Inflation data and US bond yields also influence market sentiment.
Rupee-Dollar Exchange Rate: India depends heavily on imported silver. Therefore, changes in the rupee's value against the US dollar can affect domestic bullion prices. A weaker rupee raises import costs and can make silver more expensive in India.
Geopolitical Uncertainty: International conflicts, trade tensions, and concerns over global economic growth can influence demand for precious metals. Investors may turn to silver during uncertain periods, although its industrial exposure can also make prices vulnerable to a slowdown in economic activity.
The latest decline highlights silver market volatility. Buyers should watch international bullion prices, currency movements, and industrial demand before buying.
For retail consumers, comparing rates across local dealers is important. The quoted bullion price may not include GST, making charges, or other costs associated with jewelry and physical silver purchases.
Investors, meanwhile, should consider silver's price volatility and their investment horizon rather than making decisions based on a single day's movement.
(Note: Silver prices mentioned in this report are indicative rates reported by Goodreturns for November 11, 2026. Actual rates may vary by dealer, location, and additional charges.)