Silver Prices Drop on 17 November: Check Latest Rates in Delhi, UP, Bihar and Other Cities

Silver prices witnessed a notable decline on Monday, 17 November, offering some relief to buyers after last week’s steep rise. Compared to Friday’s levels, silver has become cheaper by nearly ₹5,000 per kilogram. In the national capital Delhi, silver is currently trading at ₹1,68,900 per kg, while rates in Chennai have slipped to ₹1,74,900 per kg.

This fall has come just days after silver recorded a sharp jump on the day of the Bihar election results. However, the trend reversed at the start of the week, with prices softening across major Indian cities including Delhi, Mumbai, Chennai, Hyderabad, and Patna.

Silver Falls Sharply After Recent Highs

In October, Chennai recorded silver prices as high as ₹2,06,000 per kg, while Delhi touched ₹1,98,000 per kg. With current rates significantly below last month’s peak, investors and buyers are closely monitoring the market for further movement.

Market analysts believe that despite today’s dip, silver could regain momentum as the wedding season progresses. Historically, demand for precious metals rises during this period due to increased jewellery purchases and gifting traditions.

City-Wise Silver Prices on 17 November 2025

Here are the latest silver prices per kilogram across major Indian cities:

While most northern and western cities are showing a uniform price of ₹1,68,900 per kg, southern cities like Chennai and Hyderabad remain on the higher side, with rates nearly ₹5,000 more.

Why Silver Prices Are Expected to Rise Again

Silver is no longer limited to jewellery and traditional artefacts. Its demand is increasing rapidly due to its indispensable role in several modern industries:

1. Electronics Manufacturing

Silver is widely used in mobile phones, computer chips, and circuit boards. Its excellent conductivity makes it a preferred material in electronic components.

2. Renewable Energy Sector

The global shift towards clean energy has boosted silver consumption, especially in the manufacture of solar panels. As India expands its solar infrastructure, domestic demand for silver is also rising.

3. Industrial Applications

From medical equipment to automobiles, silver plays a significant role across various manufacturing processes.

Due to these expanding industrial uses, silver prices have seen a strong upward trajectory throughout the past year. Experts believe that if demand continues to grow at this pace, prices may once again move upward in the coming months.

Outlook for Buyers and Investors

With prices currently lower than last week’s high, buyers planning festive or wedding season purchases may find this an opportune moment. However, market experts advise keeping an eye on daily fluctuations, as global cues, industrial demand, and domestic factors can influence price trends.

For investors, silver continues to remain a strong long-term asset due to its dual role as a precious metal and an industrial commodity.