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Silver prices remained at Rs. 2 lakh per kg across several major Indian cities.
Chennai and Hyderabad recorded higher rates compared with Mumbai, Delhi, and Kolkata.
Buyers can check purity markings, BIS hallmark, and HUID before purchasing silver.
Silver prices in India remain in focus on Thursday, November 5, as buyers prepare for the festive season amid fluctuations in the domestic and international bullion markets. With Dhanteras on November 6, demand for silver coins, jewelry, utensils, and investment bars is expected to remain in focus.
According to GoodReturns, silver was priced at Rs. 200 per gram and Rs. 2,00,000 per kg in India on Thursday. However, prices varied across cities, with Chennai and Hyderabad quoting higher rates of Rs. 2,10,000 per kg.
For buyers planning to purchase silver this festive season, differences in purity grades, local market prices, and jewelry charges can significantly affect the final bill.
GoodReturns reported that silver price stood at Rs. 2,000 for 10 grams, Rs. 20,000 for 100 grams, and Rs. 2 lakh for 1 kg on November 5.
The rates were unchanged compared with the previous day. However, prices were higher in some southern markets, including Chennai and Hyderabad.
International bullion rates, the rupee-dollar exchange rate, import costs, and domestic demand influence silver prices. Unlike gold, silver also has substantial industrial demand, particularly from the electronics, electrical, and solar energy sectors.
Silver prices vary across cities based on transportation costs, local market premiums, and dealer margins.
Here are the rates in major Indian cities on November 5, according to GoodReturns:
For example, the difference between Chennai and Mumbai is Rs. 10,000 per kg. Buyers should therefore check the local rate before making a purchase.
Also Read: Gold and Silver Rates Fall: Check Today's Prices in Delhi, Mumbai and Other Cities
Silver is sold in different purity grades. The price depends on the amount of actual silver present in a coin or a piece of jewelry.
999 Fine Silver: Contains 99.9% pure silver. It is commonly used for investment bars and coins. Its softness makes it less suitable for everyday jewelry.
925 Sterling Silver: Contains 92.5% silver, while the remaining 7.5% generally consists of other metals, such as copper. It is widely used in jewelry because it is more durable.
916 Silver: Contains 91.6% silver. It is another alloy grade, and buyers should verify its purity rather than assume that all articles sold as 916 silver carry the same certification.
At a reference rate of Rs. 200 per gram for 999 silver, the indicative metal value comes to about Rs. 185 per gram for 925 silver and Rs. 183.20 for 916 silver. These are purity-based calculations and not fixed retail prices.
Also Read: Silver Price Today: City-Wise Rates, 10-Day Trend, Market Outlook
With silver prices remaining elevated, checking authenticity matters before buying jewelry, coins, or utensils.
The Bureau of Indian Standards (BIS) introduced HUID-based hallmarking for silver jewelry and articles from September 1, 2025. The scheme is voluntary.
Buyers should check three important details:
BIS Hallmark: Look for the BIS standard mark on the silver article.
Purity Mark: Check the fineness number, such as 925, 958, or 999, to establish its silver content.
Six-Digit HUID: Hallmarked silver articles carry a unique six-character alphanumeric identification code.
Consumers can verify the HUID through the BIS CARE mobile application. They should also insist on a proper bill mentioning the weight, purity, prevailing silver rate, and making charges.
Traditional methods such as the magnet test are not conclusive proof of genuine silver. Professional testing and BIS hallmark verification offer greater assurance.
Before purchasing, consumers should compare rates across jewelers and check the additional making charges and applicable GST. A lower quoted silver rate does not necessarily mean a cheaper final purchase.