New Delhi, October 23 (Udaipur Kiran) — The downward trend in silver prices continued in the domestic bullion market, with the precious metal falling sharply on the occasion of Bhai Dooj. On Wednesday, silver prices slipped by ₹4,000 to ₹6,000 per kilogram across major cities in India.
In Delhi, silver prices dropped by ₹4,000 to settle at ₹1,59,900 per kilogram, while in Chennai, the metal witnessed the steepest fall of ₹6,000, now trading at ₹1,74,000 per kilogram.
In other major markets including Mumbai, Ahmedabad, Kolkata, Jaipur, Surat, and Pune, silver remained around ₹1,59,000 per kilogram. In Bengaluru, it stood at ₹1,60,000, and in Patna and Bhubaneswar, it traded at ₹1,59,400 per kilogram. Despite the decline, Chennai and Hyderabad continue to record the highest silver prices in the country.
In the international market, spot silver prices slipped 0.20% to $48.43 per ounce. According to bullion expert Mayank Mohan, the recent fall is due to an increase in silver supply in the London market, which has eased earlier availability concerns.
He added that global silver prices have already fallen by about 9.15%, prompting traders in both international and domestic bullion markets to engage in profit booking, resulting in further price corrections.
Experts expect volatility in silver prices to continue in the short term, as both global market dynamics and domestic demand patterns adjust post-festive season.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.