The price of silver has seen a major drop this week, giving a big relief to buyers, investors, and people planning to purchase silver jewellery or coins. According to the latest market update on November 23, silver prices have fallen by Rs 5,000 per kilogram compared to last week. This sudden decline has created new opportunities for investors who were waiting for the right time to buy.
Silver is one of the most popular precious metals in India, used not only for jewellery but also for coins, utensils, and industrial purposes. Because of its wide use, even a small price change affects the entire market. This week’s fall has attracted attention across major cities, including Delhi, Mumbai, Chennai, Kolkata, Bengaluru, and others.
In this article, we will look at why silver prices have dropped, how global market conditions are affecting prices, and what the city-wise 1 kg silver price is today. This information will help buyers understand the current trend and plan their purchases wisely.
Why Silver Prices Fell This Week
The sharp fall of Rs 5,000 per kg in silver rates has several reasons behind it:
1. Weak Global Demand
International markets play a big role in deciding India’s silver rates. This week, global demand for silver reduced because major economies like the US and China showed slower industrial activity. Silver is widely used in electronics, solar panels, and medical devices, so any slowdown reduces its demand.
2. Strengthening of the Indian Rupee
The Indian rupee strengthened slightly against the US dollar this week. Since silver is imported in India, a stronger rupee lowers the import cost. This had a direct impact on domestic silver prices.
3. Reduced Investment Demand
Investors shifted their money to safer assets like government bonds after uncertainty in global markets. When investors pull money out of metals, prices generally fall.
4. Market Volatility in Precious Metals
Gold and silver often move in the same direction. This week, gold prices also remained under pressure, which contributed to a drop in silver prices.
Silver Price Trend – Past Week
At the beginning of the week, silver prices were around Rs 82,000 per kg in most major cities. By November 23, prices dropped to nearly Rs 77,000 per kg, showing a total fall of Rs 5,000.
This decline is one of the biggest weekly drops seen in recent months and has encouraged many buyers to enter the market again.
City-Wise Silver Price Today – 1 Kg (November 23)
Below is the latest city-wise 1 kg silver price as of today:
| City | 1 Kg Silver Price (Today) |
|---|---|
| Delhi | Rs 77,200 |
| Mumbai | Rs 77,000 |
| Kolkata | Rs 77,100 |
| Chennai | Rs 78,000 |
| Bengaluru | Rs 77,300 |
| Hyderabad | Rs 77,800 |
| Ahmedabad | Rs 77,100 |
| Pune | Rs 77,000 |
| Jaipur | Rs 77,400 |
| Lucknow | Rs 77,500 |
Note: Prices may vary slightly depending on local taxes and jeweller margins.
Is This the Right Time to Buy Silver?
Many experts believe that this fall could be a good opportunity for long-term investors. Here are a few reasons why:
Attractive Buying Level
Silver rarely falls this much in a single week. A drop of Rs 5,000 per kg makes it a good entry point for investors.
Strong Future Demand Expected
Silver demand is expected to rise due to:
- Solar panel manufacturing
- Electric vehicle battery production
- Electronics industry growth
- Festive and wedding season demand
This means silver prices may rise again in the coming months.
Lower Risk Compared to Gold
Silver is cheaper than gold, making it more affordable for ordinary buyers. The current price drop gives more flexibility to small investors.
What to Expect Ahead – Price Forecast
While short-term silver prices may continue to fluctuate, many analysts predict that prices could rise gradually in the next few months due to global economic recovery and industrial demand. If inflation increases or the dollar weakens, silver may become even more attractive.
Experts also say that the long-term outlook for silver remains strong because it is a key metal used in clean energy technologies like solar power.
Conclusion
To sum up, silver prices have fallen sharply by Rs 5,000 per kg this week, bringing the current price to around Rs 77,000–78,000 per kg in major Indian cities as of November 23. The drop comes as a result of global economic factors, weaker demand, and currency movements.
For buyers and investors, this may be a good time to consider purchasing silver, especially for long-term investment or upcoming weddings and festivals. As always, it is wise to compare prices in your city and buy from a trusted jeweller.
