Silver Prices Drop for Second Straight Day: Check the Latest Rates on 18 November

Silver Price Today: Silver continued its downward trend on Tuesday, 18 November, marking the second consecutive day of decline in major Indian markets. Compared to Monday, silver became cheaper by up to ₹2,000 per kilogram, extending the pressure witnessed across northern and southern regions. In Delhi, silver is now trading at ₹1,66,900 per kg, while Chennai has recorded a higher rate of ₹1,72,900 per kg.

This two-day fall comes shortly after a period of sharp volatility, where silver had touched record levels in multiple cities only a few weeks ago. Analysts believe that while prices may appear subdued at the moment, the upcoming wedding season could once again push demand—and prices—upward.

Silver Prices Slide Across Major Cities

In recent weeks, silver prices had surged significantly, touching ₹2,06,000 per kg in Chennai and nearing ₹1,98,000 per kg in Delhi. However, the metal has now corrected sharply from those highs. Markets in Uttar Pradesh, Bihar, Delhi, Mumbai, Chennai, and Hyderabad are all registering weaker price trends.

Market experts attribute this decline to profit-booking, fluctuating international cues, and temporary softness in demand. However, they expect the domestic jewelry market and industrial consumption to provide strong support ahead of peak seasonal demand.

Silver Rates in Key Cities on 18 November 2025

Below are the latest city-wise silver prices per kilogram:

The price gap between northern and southern India has widened slightly, with Chennai and Hyderabad recording higher rates by up to ₹6,000 per kg.

What’s Causing the Correction?

Several factors are contributing to the short-term weakness in silver prices:

• Volatile global markets: Uncertainty around global interest rate movements and US economic data has hit precious metal sentiment.

• Profit-booking: After touching multi-month highs, traders seem to be locking in gains.

• Soft domestic demand: Pre-wedding purchases are yet to peak, creating temporary pressure on prices.

However, the downside may be limited due to the strong underlying demand, especially from the industrial sector.

Rising Industrial Demand Could Support Future Prices

While silver is traditionally associated with jewelry, coins, and religious items, the metal’s industrial applications have expanded sharply in recent years. It is now a key component in:

• Mobile phones

• Computer chips and processors

• High-end electronic devices

• Solar panels and renewable energy equipment

With India’s rapid digital expansion and the global shift toward solar energy, silver consumption has grown significantly. Over the past year, this demand push has played a major role in lifting silver prices to multi-year highs.

Analysts believe that if industrial demand continues to grow at the current pace, silver prices could see another strong rally in the coming months.

What Lies Ahead?

Market experts suggest that silver may remain range-bound in the short term but could resume its upward journey as festive and wedding season demand increases. Industrial demand is also likely to act as a major long-term driver.

For now, buyers may view this price dip as an opportunity, while investors should continue monitoring international cues and domestic market trends closely.