Silver Prices Drop Sharply

Silver buyers have received some relief as prices witnessed another sharp decline on Wednesday, November 11. After experiencing significant fluctuations over the past few weeks, silver prices fell by nearly ₹4,700 per kilogram on the Multi Commodity Exchange (MCX). The decline has brought some relief to those who had been postponing their purchases due to recent price volatility.

On Wednesday morning, silver was trading at ₹1,82,450 per kilogram. Against the previous closing price of ₹1,87,127, it registered a decline of ₹4,677 in a single day, or approximately 2.5 per cent. Meanwhile, silver prices in the domestic market fell by around ₹5,000 per kilogram to approximately ₹2 lakh. Developments in international markets, fluctuations in the US dollar and expectations regarding interest rates continue to influence silver prices.