Category: Business News

Silver is trading near record highs this Diwali, and the price in Delhi’s retail market is around ₹2.10 lakh per kilogram. On 6 November 2026, Delhi jewellers quoted silver at about ₹2,10,000 to ₹2,10,100 per kg (₹210 per gram), up marginally from ₹2,10,000 the previous day.

Mumbai’s retail rate was a little higher at ₹2,11,050 per kg, while the wholesale bullion reference rate from the All India Bullion and Jewellers Association was lower at ₹1,89,698 per kg. The difference between the bullion reference rate and the retail rate is normal — retail prices include making charges, the jeweller’s margin and taxes, while the bullion rate is the wholesale benchmark.

Silver prices on 6 November 2026

MarketRate per kgSource
Delhi retail₹2,10,1005paisa (6 November)
Delhi retail₹2,10,000Axis Max Life
Delhi retail₹2,09,580silverji (₹209.58 per gram)
Mumbai retail₹2,11,050silverji
All India bullion reference₹1,89,698All India Bullion and Jewellers Association, 09:30 IST

Why silver is so expensive this year

Silver has risen sharply through 2026. In international markets, spot silver was trading at about $52.10 an ounce on 6 November, after a 5.3 percent jump on 4 November to $52.20. The metal is being pushed up by the same forces that are lifting gold — a weaker US dollar after the American midterm elections, falling bond yields, and strong demand from investors and industry.

Silver is also an industrial metal, used in solar panels, electric vehicles and electronics, so its price moves on both investment demand and factory demand. That makes it more volatile than gold.

What buyers should know

  • Retail and bullion rates differ. The rate a jeweller quotes will be higher than the bullion reference rate. Always ask for the per-gram rate and the making charges separately.
  • Taxes add up. A 3 percent GST applies on the value of the metal, and 5 percent GST on making charges.
  • Check the price before you buy. Rates move through the day. The rate on 6 November is only a snapshot; the price on Dhanteras and Diwali day can differ.
  • Gold is also near record highs. 24-carat gold in Delhi was quoted at ₹1,46,085 per 10 grams on 6 November, in line with the ₹1.46 lakh per 10 grams reported for Dhanteras. Silver’s rise has been sharper than gold’s in percentage terms this year.

For families buying silver for Diwali, the message is simple: silver is near its all-time high, so buy from a trusted jeweller, insist on a bill with the weight and purity clearly stated, and check the hallmark. Silver articles and coins are usually a better value than jewellery if you are buying mainly as an investment, because making charges are lower.

Source: 5paisa silver rate, 6 November 2026; Axis Max Life silver rate; silverji Delhi and Mumbai rates; All India Bullion and Jewellers Association reference rate, 09:30 IST, 6 November 2026; Reuters-based reports on spot silver, 5 November 2026.

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