Silver Prices Tumble After Festive Season: Major Dip Across Indian Cities on October 29

Silver Rate Today: Prices Slide Sharply After Festive Highs

As the festive season comes to an end, both gold and silver prices are witnessing a consistent decline across India. On Wednesday, October 29, 2025, silver prices dropped sharply, with rates falling by up to ₹4,000 per kilogram in a single day and nearly ₹50,000 from recent peak levels over the past ten days.

In Delhi, the price of silver slipped to ₹1,50,900 per kilogram, compared to ₹1,54,900 just a day earlier. Meanwhile, Chennai saw silver prices drop from ₹2,06,000 to ₹1,64,900 per kilogram, marking one of the steepest declines among major Indian cities.

Why Are Silver Prices Falling?

According to market experts, the post-festive slowdown in consumer demand is a key reason behind the ongoing dip. During the Diwali and Dhanteras season, jewelry and bullion purchases hit record highs, but with celebrations over, buying activity has cooled down.

Another contributing factor is geopolitical uncertainty, particularly ongoing economic talks between the U.S. and China, which has dampened the global demand for safe-haven assets like gold and silver. Investors are holding back large-scale purchases until clearer economic signals emerge.

However, analysts also believe this downtrend may be temporary. As the global economy stabilizes and industrial demand rises, silver prices could rebound sooner than expected.

Industrial Demand Could Drive Prices Up Again

While silver is traditionally viewed as a precious metal for jewelry and investment, its industrial importance has surged in recent years. Today, nearly 60–70% of global silver production is consumed by industries.

Silver plays a vital role in the manufacturing of:

• Mobile phones and computer chips

• Electric and electronic components

• Solar panels and renewable energy equipment

The growing demand for clean energy solutions, especially solar energy, is expected to boost industrial silver consumption significantly in the coming years. This structural demand could limit further downside in prices and potentially drive another upward trend.

Market Analysts’ View

Experts suggest that while silver’s short-term outlook remains weak due to reduced festive buying, long-term fundamentals are still strong. “Once industrial activity picks up and inventories start shrinking, silver could regain momentum,” said a Delhi-based bullion trader.

They also noted that the current dip might be an opportunity for investors seeking medium- to long-term gains. “Those who missed buying during Diwali may find this correction an ideal entry point,” another analyst added.

Latest Silver Rates (Per Kilogram) — October 29, 2025 City Silver Price (₹/kg)

Delhi	1,50,900
Mumbai	1,50,900
Ahmedabad	1,50,900
Chennai	1,64,900
Kolkata	1,50,900
Gurugram	1,50,900
Lucknow	1,50,900
Bengaluru	1,52,900
Jaipur	1,50,900
Patna	1,50,900
Bhubaneswar	1,50,900
Hyderabad	1,64,900

Across most major cities, the difference in silver rates remains around ₹14,000 between northern and southern regions, with Chennai and Hyderabad reporting the highest prices.

Outlook

The silver market remains volatile as global and domestic factors continue to influence price movements. While the short-term trajectory appears bearish, the long-term prospects are optimistic due to silver’s expanding role in high-tech and green industries.

For now, investors are advised to monitor global cues, industrial demand trends, and central bank policies closely before making large silver investments.