The price of silver in India held steady on Thursday, December 4, 2025, showing no change from the previous day's closing. The precious metal continues to trade at ₹191 per gram and ₹191,000 per kilogram, according to data sourced from Good Returns.
Silver Price Stability Amidst Long-Term Rally
While the rates remained flat for the day, the broader trend for silver over the past year has been remarkably bullish. Industry analysts note that silver has significantly outperformed gold, with its value in the Indian market nearly doubling during this period. This sustained rally is attributed to a powerful combination of seasonal demand and strategic investment inflows.
Key Factors Driving Silver Demand
Multiple forces are converging to support high silver prices. The ongoing festive and wedding season in India is a traditional driver of demand for precious metals, including silver, for jewellery and gifts. Beyond cultural consumption, investment demand is playing a crucial role. There is increased interest from investors in Silver Exchange-Traded Funds (ETFs), which pull substantial volumes of the metal into financial products.
Furthermore, industrial demand remains robust. Companies are actively purchasing silver not only as a financial hedge against economic uncertainty but also for its critical applications in various industries, including electronics, solar panels, and other manufacturing sectors. This dual demand—from both investors and industry—creates a solid floor for prices.
City-Wise Silver Rates Across India
The price of silver can vary slightly from city to city due to factors like local taxes, making charges, and supply dynamics. Here is a snapshot of the silver rates for 10 grams in major Indian cities as of December 4:
- Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara, Ahmedabad: ₹1,910
- Chennai, Hyderabad, Kerala: ₹2,000
- Jaipur, Lucknow, Patna, Nagpur, Chandigarh, Surat, Nashik, Gurgaon, Ghaziabad, Noida: ₹1,911
- Coimbatore, Madurai, Vijayawada, Bhubaneswar, Visakhapatnam: ₹2,011
For a more detailed breakdown, the price for 100 grams and 1 kilogram scales proportionally in each location.
Market Outlook and Implications
The current price stability suggests a period of consolidation after a sharp upward move. Market watchers believe the underlying fundamentals for silver remain strong. The consistent demand from both domestic consumers during peak seasons and global industrial users indicates that the rally may have room to continue, barring any major shifts in global economic policy or a sharp downturn in industrial activity. Investors and buyers are advised to monitor these macroeconomic factors closely alongside local demand trends.
