As of now while we are treading in the last week of October, 2025, Indian silver prices are quoted around Rs 1,58,175 per kilogram on the MCX, showing a recent price hike following weeks of fluctuation. This translates to silver being priced close to Rs 1,581.75 per 10 grams and around Rs 158.18 per gram. The prices have fallen marginally from initial October highs around Rs 1,90,000 per kilogram but are still higher than previous months. City-wise, silver prices fluctuate marginally due to local conditions, with metropolitan city prices such as Mumbai, Delhi, and Chennai averaging at about Rs 1,580-1,600 per 10 grams.
Explanation for Recent Volatility
Silver’s recent price volatility has been caused by reasons such as:
- A surging US dollar and increasing treasury yields that have pushed silver prices over the past few days.
- Supply-demand imbalances, with supply deficits being witnessed at major domestic suppliers.
- Persistent inflation fears and geo-political tensions enhancing silver’s safe-haven status.
- Volatility in industrial demand, particularly in electronics and solar industries.
- Seasonal buying demand and ETF inflows creating volatility in market dynamics.
Expert Forecast for November 2025
Market specialists foresee silver prices in India trading at Rs 1,50,000 to Rs 1,65,000 per kilogram in November 2025, which is equivalent to Rs 1,500 to Rs 1,650 per 10 grams. Industrial usage demand and strategic investment demand underpin a positive medium-term view despite short-term price volatility. Experts recommend investors closely monitor international macroeconomic indicators, looking to buy during corrections given the increased volatility of silver versus gold.
Possible price triggers are further geopolitical risk build-up and inflation data release, which would drive prices upward. In contrast, hawkish Federal Reserve policies or better economic data could trigger downward corrections.
Nutshell
Silver continues to be a prime investment and industrial metal in India with prices echoing trends in the global economy and trends in domestic demand. The prevailing price environment in late October 2025 presents a balanced snapshot of risk and opportunity as investors gear up for the wedding and festive season. November 2025 can expect volatility to continue, with guarded buying suggested to take advantage of silver’s growth prospects.
