Silver Prices Jump by ₹6,000 in a Day: Check 28 November Rates Across Major Cities
Silver prices surged sharply on Friday, 28 November, marking one of the biggest single-day gains in recent weeks. After a prolonged period of weakness across several regions, the white metal rebounded with strong momentum. Compared to Thursday’s levels, silver became costlier by ₹6,000 per kilogram, signalling renewed demand in both domestic and industrial markets.
In the national capital, silver traded at ₹1,76,000 per kilogram, maintaining a strong upward trend. The rally was visible across major cities, with Chennai and Hyderabad quoting higher rates at ₹1,83,000 per kilogram, creating a price gap of nearly ₹7,000 between northern and southern markets.
Below is a detailed report on the latest silver rates and the key factors driving this sudden surge.
Strong Price Momentum in Major Cities
City-wise data shows that most large markets witnessed uniform increases in silver prices:
| City | Silver Price per kg (₹) |
|---|---|
| Delhi | 1,76,000 |
| Mumbai | 1,76,000 |
| Ahmedabad | 1,76,000 |
| Kolkata | 1,76,000 |
| Gurugram | 1,76,000 |
| Lucknow | 1,76,000 |
| Bengaluru | 1,76,000 |
| Jaipur | 1,76,000 |
| Patna | 1,76,000 |
| Bhubaneswar | 1,76,000 |
| Chennai | 1,83,000 |
| Hyderabad | 1,83,000 |
While northern and western regions traded at similar price levels, Chennai and Hyderabad continued to quote higher prices, reflecting stronger industrial consumption in southern hubs.
Why Silver Prices Are Rising Again
For the past few weeks, cities across northern and western India—including Delhi, Uttar Pradesh, Bihar, and Mumbai—had reported consistent declines in silver prices. Similar pressure was also felt in Chennai and Hyderabad.
However, this downward trend appears to have slowed. Silver prices are now showing clear signs of recovery. Although rates are yet to touch their earlier highs, the recent rebound offers a positive signal for traders and investors.
Several factors are contributing to the renewed strength in the silver market:
1. Revival in Industrial Demand
Silver is no longer limited to jewellery, ornaments, or religious products. It has become a crucial element in modern industries. Today, silver is used extensively in:
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Mobile phones
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Computer chips
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Electronic devices
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Solar panels
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High-tech components
As production in these sectors increases, so does the demand for silver. Industrial consumption has become one of the strongest drivers behind silver’s long-term price growth.
2. Improved Market Sentiment
The sudden rise of ₹6,000 per kilogram reflects improved buying interest among traders who expect prices to rise further in the short term. A halt in the previous downward trend has encouraged investors to re-enter the market.
3. Global Influences
Although this article focuses on domestic rates, international market cues—such as metal demand, currency movement, and economic forecasts—also play a significant role in shaping silver prices in India.
What to Expect Ahead
The recent rise indicates that silver may be entering a recovery phase after weeks of correction. As industrial demand continues to strengthen and global market signals remain supportive, silver prices could maintain their upward trajectory in the coming days.
Investors are advised to track city-wise rates regularly and keep an eye on global trends, especially developments in technology-driven industries where silver consumption has been steadily increasing.
