Silver Prices Surge After Two Weeks of Decline — Industrial Demand and Festive Factors Drive Fresh Upswing
After nearly two weeks of consistent decline, silver prices witnessed a sharp rebound on Monday, November 3. The white metal became costlier by ₹2,000 per kilogram, breaking the bearish trend that had dominated the past fortnight. As per the latest market updates, silver in Delhi is trading at around ₹1,54,000 per kg, while in Chennai, it stands higher at ₹1,68,000 per kg — a difference of nearly ₹14,000 between the two major markets.
For the last 15 days, both gold and silver had been under pressure due to subdued demand following the festive season. Gold prices, in particular, had slipped by nearly ₹50,000 over the same period. However, Monday’s rise in silver has injected a sense of optimism among traders and investors who were waiting for signs of recovery in the bullion market.
Why Silver Prices Are Rising Again
Market experts suggest that the recent jump in silver prices is largely driven by renewed industrial demand and global economic cues. The slowdown in festive buying led to temporary weakness, but silver’s strong use in industries such as electronics, solar energy, and technology has revived its market momentum.
Over the past few years, silver has evolved beyond being just a traditional investment or ornamental metal. Today, it is a crucial component in manufacturing semiconductors, mobile phones, electric vehicles, and solar panels. This industrial dependency has made silver’s value more sensitive to technological and economic developments than ever before.
Another contributing factor to the recovery is the positive outcome of ongoing trade and economic discussions between the United States and China. The easing of global tensions has helped stabilize commodity markets, encouraging renewed buying interest among investors.
City-Wise Silver Prices (as of November 3, 2025)
| City | Price per Kg (₹) |
|---|---|
| Delhi | 1,54,000 |
| Mumbai | 1,54,000 |
| Ahmedabad | 1,54,000 |
| Kolkata | 1,54,000 |
| Jaipur | 1,54,000 |
| Lucknow | 1,54,000 |
| Gurugram | 1,54,000 |
| Bhubaneswar | 1,54,000 |
| Bengaluru | 1,54,000 |
| Patna | 1,54,000 |
| Chennai | 1,68,000 |
| Hyderabad | 1,68,000 |
The data shows a fairly uniform rate across most major cities, except for Chennai and Hyderabad, where prices remain higher. Analysts believe this could be due to regional variations in logistics and demand.
Industrial Demand Boosting Silver’s Long-Term Outlook
Silver’s increasing role in the industrial sector is reshaping its long-term price trajectory. Currently, around 60–70% of the total global silver consumption comes from industrial use — a figure that has grown substantially in the past decade. This trend is expected to continue as industries transition towards renewable energy and electric mobility.
The rise in solar panel production, driven by global climate goals, is particularly boosting silver demand. Silver paste is a key component in photovoltaic cells used in solar panels, making it indispensable to the clean energy revolution.
Investor Sentiment and Market Outlook
With global inflation showing signs of easing and the dollar stabilizing, precious metals are finding renewed investor interest. Silver, being more affordable than gold, often attracts small and medium investors looking for long-term appreciation.
Market watchers believe that if industrial consumption remains strong and geopolitical tensions stay subdued, silver could continue its upward momentum in the coming weeks. However, they also caution that global market fluctuations and currency movements could influence short-term trends.
Conclusion
Silver’s sharp rise of ₹2,000 on November 3 signals a potential reversal after weeks of decline. While short-term corrections are always possible, strong industrial demand and global economic stability suggest that silver may continue to shine in the near future. For investors, this could be an opportune moment to monitor price trends closely before taking fresh positions in the bullion market.
