Silver prices in Hyderabad have dropped to their lowest level in a month, reaching Rs 97,900 per kilogram on Wednesday. This marks a significant decline from earlier this month.
The latest drop is a slight decrease of Rs 100 from Tuesday’s price of Rs 98,000. However, it reflects a steady downward trend, as prices were above Rs 1,00,000 per kilogram earlier in November.
Over the last 10 days, silver prices remained stable at Rs 1,01,000 per kilogram from November 20 to November 24. On November 25, the price fell by Rs 500, followed by a sharper decline of Rs 2,500 on November 26. Wednesday’s drop adds up to a total decrease of Rs 3,100 in just three days.
At the start of November, silver was priced at Rs 1,05,000 per kilogram. Prices gradually fell to Rs 99,000 by November 18 before slightly recovering to Rs 1,01,000. The current rate of Rs 97,900 is the lowest since the end of October.
Experts believe the decline is due to global factors, such as reduced industrial demand and fluctuations in the international commodities market. These changes have influenced silver prices locally as well.
