Silver Rate Today, November 11, 2026: Silver prices have witnessed a sharp decline in India's commodity futures market amid continued fluctuations in precious metal prices during the festive season. According to the reported market figures, silver futures on the Multi Commodity Exchange (MCX) dropped by ₹4,276 per kilogram, representing a decline of 2.29%. Following the fall, the quoted futures price reached ₹1,82,851 per kilogram, compared with the previous session's closing level of ₹1,87,127.

The decline comes after a period of considerable volatility in both domestic and international silver markets. While silver had previously benefited from buying interest and stronger global prices, the latest reported movement indicates renewed selling pressure.

However, silver prices in the physical bullion market differ from futures quotations. Buyers planning to purchase silver jewellery, coins or bars should therefore check local retail prices before making a decision.

MCX Silver Price Today: Futures Drop More Than 2%

The domestic commodity market has recorded a notable correction in silver futures.

According to the supplied market report, MCX silver futures declined from ₹1,87,127 per kilogram in the previous trading session to ₹1,82,851 per kilogram.

This represents a reduction of ₹4,276, or approximately 2.29%.

The movement highlights how quickly precious metal prices can change in response to trading activity and international market developments.

Silver is considered both a precious metal and an industrial commodity. Consequently, its price can be influenced by investment demand as well as expectations surrounding industrial consumption.

Traders generally monitor global commodity trends, currency movements and broader economic conditions when evaluating silver futures.

It is important to remember that futures prices represent exchange-traded contracts and should not be confused with the amount customers pay at jewellery shops.

Silver Rate in India: Physical Market Prices Differ From MCX

The report mentions several silver price quotations from different market segments.

According to the cited bullion market figures, silver was quoted at ₹1,83,390 per kilogram.

Meanwhile, the Delhi bullion market price was reported at ₹1,92,500 per kilogram, including applicable taxes.

A separate city-wise retail price list placed silver at ₹2,05,000 per kilogram across several major locations.

These figures should not be treated as interchangeable because they may represent different pricing sources, product specifications or reporting times.

Note: These are figures from the supplied November 11 report, not independently verified live quotations. The report does not specify the exact timestamp or product basis for every price.

Silver Price Today: City-Wise Rates on November 11, 2026

The supplied retail price list quotes silver at ₹2,05,000 per kilogram across 19 Indian cities.

Here are the reported rates:

Although the reported benchmark is identical across these cities, actual retail prices may vary depending on the dealer, purity, taxes, product type and other charges.

Consumers should confirm the final selling price with a local bullion dealer or jeweller before purchasing.

How Much Does 10 Grams or 100 Grams of Silver Cost?

Based on the reported retail benchmark of ₹2,05,000 per kilogram, the equivalent prices for smaller quantities can be calculated as follows:

These calculations use the stated retail benchmark and do not include any additional charges that may apply to a particular purchase.

For silver jewellery, the final bill may also include making charges, depending on the design and seller.

International Silver Price: Metal Quoted at $51.41 Per Ounce

The international silver market has also experienced fluctuations.

According to the report, silver was quoted at $51.41 per troy ounce in the global market.

Earlier, international spot silver had reportedly climbed by more than 1% to reach $52.58 per ounce.

The difference between these quoted levels reflects the volatility described in the supplied market update.

Global silver prices can be influenced by several factors, including expectations about US interest rates, movements in the dollar, industrial demand and investor interest in precious metals.

Since India participates in the international precious metals market, changes in global silver prices can affect domestic quotations.

However, the rupee-dollar exchange rate and local market conditions can also influence the price Indian buyers ultimately pay.

Silver Futures Had Rallied Earlier This Week

The latest decline follows a reported rise in silver futures during Monday's trading session.

According to the source report, MCX silver futures for December delivery had previously gained ₹3,803, reaching ₹1,88,903 per kilogram.

The international futures market also recorded gains during that session.

Silver futures reportedly advanced 2.49% to $53.20 per ounce, supported by stronger global market sentiment.

Market analysts cited in the original report attributed the earlier upward movement partly to fresh buying interest and the creation of new trading positions.

The subsequent decline demonstrates how quickly market direction can reverse, particularly in a commodity that attracts both investors and industrial buyers.

Why Are Silver Prices Fluctuating So Sharply?

Several factors can contribute to changes in silver prices.

International market movements: Global bullion prices influence domestic market sentiment and trading activity.

Currency fluctuations: A weaker rupee against the US dollar can make imported silver more expensive, while a stronger rupee may reduce import-related costs.

Industrial demand: Silver is used in electronics, solar energy equipment and various manufacturing applications. Changes in expected industrial consumption can influence prices.

Investment activity: Buying and selling by traders and investors can cause short-term price movements in futures markets.

Economic expectations: Interest rate outlooks, inflation expectations and broader financial market conditions can influence demand for precious metals.

Because multiple factors operate simultaneously, short-term price movements are difficult to predict reliably.

Should You Buy Silver After the Latest Price Decline?

A sharp decline in silver prices may attract the attention of investors and jewellery buyers looking for a better entry price.

However, a fall of more than 2% in futures trading does not necessarily mean that physical silver prices have declined by the same percentage.

Consumers planning to purchase silver for personal use should compare quotations from different dealers and check the purity of the product.

Those considering silver as an investment should evaluate their financial goals, investment horizon and ability to tolerate price fluctuations.

Silver can experience significant volatility, and purchasing solely because prices have recently fallen may expose investors to further losses.

Final Takeaway

Silver prices have come under pressure in the reported November 11, 2026 market update, with MCX futures falling ₹4,276 per kilogram to ₹1,82,851.

Meanwhile, the supplied city-wise retail price list places silver at ₹2,05,000 per kilogram across several Indian cities, highlighting the difference between exchange-traded futures and physical market quotations.

With international prices also fluctuating, buyers and investors should monitor market developments carefully and verify current rates before making financial decisions.

For official commodity futures information, visit the Multi Commodity Exchange of India (MCX) website.

Disclaimer: This article is intended for general market information and does not constitute investment advice. Silver prices are subject to market fluctuations, and actual transaction rates may differ from the figures quoted above.