People buying silver on Dhanteras last year spent around Rs 1,100 for a 10-gram coin. On Dhanteras 2025, the price of a silver coin has almost doubled to around Rs 1,950. The 98% year-on-year spike for silver is largely driven by a global rally, and beaten the rise in gold prices, which saw a 55-60% gain. From industrial demand to a hedge during conflicts and festive buying, there are multiple reasons for a rise in silver prices ahead of Diwali. However, the question on everyone's mind—will silver prices come down in the near future?
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On October 15, silver prices crossed Rs 1.89 lakh per kg in Delhi, Kolkata, and Mumbai, and even Rs 2 lakh in Chennai, with a Rs 6,000 jump between just October 13 and 14.
The price rise in silver in India is spectacular because most of it has happened in the last four months.
There's a global shortage of silver, with old stocks exhausted and mining unable to keep pace.
In India, ahead of Dhanteras and the wedding season, some traders have reportedly halted new orders.
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