Silver Price Today: Silver prices in India witnessed fluctuations on November 3, 2026, with rates varying across market segments and price sources. On the MCX, the December 2026 silver futures contract was trading at around ₹1,83,828 per kg at approximately 8:17 AM. This was up by ₹4,696, or nearly 2.62%, compared with its previous closing price. The Economic Times
According to Goodreturns, the indicative retail silver price in India stood at ₹1,99,900 per kg. However, MCX futures prices and retail bullion or jewellery rates can differ. Buyers should check the latest local rates before making a purchase. Goodreturns
Silver Price Today: Rates in 10 Major Indian Cities
According to Goodreturns data for November 3, 2026, silver was priced at ₹1,99,900 per kg in the following cities.
| City | Silver Price (₹/kg) |
|---|---|
| Delhi | ₹1,99,900 |
| Mumbai | ₹1,99,900 |
| Ahmedabad | ₹1,99,900 |
| Chennai | ₹1,99,900 |
| Kolkata | ₹1,99,900 |
| Hyderabad | ₹1,99,900 |
| Jaipur | ₹1,99,900 |
| Bhopal | ₹1,99,900 |
| Lucknow | ₹1,99,900 |
| Bengaluru | ₹1,99,900 |
Source: Goodreturns, November 3, 2026. These are indicative rates. Confirm the price with a local jeweller before purchasing. Goodreturns
What Is the Silver Price in the International Market?
International silver prices are quoted in US dollars per troy ounce. On November 3, 2026, available spot market data showed silver trading at around $49.53 per troy ounce. This was approximately 2.15% lower than its previous closing price. Live Spot Silver — Corgano
In India, silver prices are influenced by international market rates, the rupee-dollar exchange rate, import costs, taxes and local demand.
Why Do Silver Prices Fluctuate?
Silver is not just an investment metal. It is also used in several industries. As a result, its price is influenced by both investment demand and industrial requirements.
Some major factors affecting silver prices include:
- US Dollar: A stronger US dollar can affect international silver demand and prices.
- Interest Rates: Changes in US Federal Reserve interest rates can influence investor demand for precious metals.
- Industrial Demand: Silver is used in solar panels, electronics and various other industries.
- Global Economic Conditions: Economic uncertainty and changes in investor activity can cause silver prices to fluctuate.
- Rupee Exchange Rate: A weaker rupee against the US dollar can increase the cost of imported silver in India.
Can Silver Prices Recover Soon?
It is difficult to predict whether silver prices will rise or fall in the coming days. Changes in international market conditions, the US dollar, interest rates and industrial demand can influence the direction of prices.
Buyers should avoid making decisions based only on recent price increases or declines. Before investing or purchasing silver, consider the latest market rates and your financial requirements.
Things to Check Before Buying Silver
Before purchasing silver coins, bars or jewellery, keep these points in mind:
- Check the purity and fineness of the silver.
- Confirm the price per gram or kilogram.
- Ask about making charges and GST.
- Always collect a proper purchase bill.
- Compare prices and additional charges at different shops.
