Silver rate in India today on November 11, 2025: MCX price rises; check rates in Delhi, Mumbai, Kolkata

Silver Prices Today

Silver is popular not only for its multi purpose usage across households, but also for its investment and industrial usage. The rate of the precious white metal today, as of 1:20 pm, on MCX stands at Rs 1,54,250 per kilogram.

One kilogram of silver with 999 purity was trading at Rs 1,55,782, higher by 1.36 percent on yesterday's close of Rs 1,53,691.

Silver prices vary by city. Check out the table below to see the price of silver where you live.

Factors that determine silver price in India

The demand and supply for the white metal determines its price. However, the price of silver is heavily dependent on other key factors including:

Strength of the US dollar: The price of silver is benchmarked against the US dollar when the bullion market opens. A stronger dollar makes silver more expensive for other currencies, which can affect demand and lower the price. A weaker dollar can make silver cheaper and drive prices up.

Demand for silver: Silver's demand tends to go up across households, especially during festivals like Dussehra and Diwali, either for ornamental or decorative purposes. The white metal is also in high demand across renewable energy and high-tech industries. Its prices also vary as per investment demand for physical silver, silver ETFs offered by companies listed on stock exchanges, as well as trading of silver futures and options trading on commodity exchanges, like the MCX.

Silver production capacity: In order to meet the demand of silver across key sectors, miners like Hindustan Zinc, need to ensure it fulfills the order. Notably, about 70% of silver is a by-product of mining other base metals, like lead, zinc, and copper. Major Indian states producing silver include Rajasthan, Jharkhand, Andhra Pradesh, Telangana and Haryana.

Interest rates: Typically, when the Reserve Bank of India (RBI) announces change in repo rate, the lending rate for banks, interest on fixed-income assets like bonds and fixed deposits tend to vary. The higher interest rates make silver more attractive, leading to its decrease in price.

Making charges: Local jewelers set their own making charges for different types of silver ornaments and decorations, which vary from one city or state to another. These charges include the cost of any other addition of other precious metals and stones, and differ based on consumers preferences.

Frequently Asked Questions (FAQs)Why are silver rates different across cities in India?

Silver is not equally distributed across states and cities. It varies typically as per the demand by industries, investments, and households. In such a scenario, silver needs to be transported from one city to another. Hence the transportation cost is added, which the consumer pays when buying the white metal. The final rate announced by the jewelry associations of different cities also affect its rate.

Which form of silver is best for investment?

Silver is sold in the form of physical jewelry as ornaments and decorations. Companies listed on stock exchanges also offer consumers to invest on silver ETFs, similar to purchase of gold ETF. It is bought and sold at market prices.

Who determines silver price in India?

In India, silver prices are determined by the Indian Bullion Jewellers Association (IBJA) who arrives at the final rate for a particular day after factoring suggestions by top precious metal dealers of the country. The silver rates for a particular day are fixed after the bullion market opens in the international market in U.S dollars, the value is converted to India rupee in the current exchange rate, and import duties and other taxes are added.

What is the current silver import duty in India?

The current import duty on silver stands at 6 percent.