Silver Market Update – 12 November 2026
Silver prices in the United States declined on 12 November, falling more than 3 % from the close of the previous session. The decline was linked to a strengthening U.S. dollar and rising inflation data that have intensified speculation of a Federal Reserve rate hike in December. The XAG/USD pair slipped, reflecting the broader trend seen in precious metals markets.
In India, silver prices also moved lower. On 12 November, 999‑purity silver traded at Rs 199.90 per gram (₹ 1,92,625 per kilogram) according to Analytics Insight. This represents a decline of Rs 5,000 per kilogram from the previous day, a level that had been observed on 11 November when prices dropped by the same amount across major Indian cities.
The downward pressure on silver was echoed in early trade in other markets. A report from Moneycontrol.com noted that both gold and silver fell marginally in early trade on 12 November, citing a stronger dollar as a primary factor.
The price of silver on the New York Mercantile Exchange at the close of 10 November was US $51.881 per ounce. This level sits below the 52‑week low of US $48.125 recorded on 20 November 2025, but above the 52‑week high of US $121.30 reached on 28 January 2026, indicating a continuation of the current downtrend.
Despite the recent falls, some analysts view the decline as a potential buying opportunity. A TalkMarkets article dated 11 November described silver prices retreating to US $49 as creating a “second chance” for contrarian investors to accumulate the metal.
In other sector news, Aya Gold & Silver Inc. reported strong third‑quarter 2026 results, with record production and lower cash costs, according to a release from Globe Newswire on 12 November. While the company’s performance may support long‑term demand for silver, the immediate market impact was muted by the prevailing macro‑economic factors.
The silver market remains sensitive to U.S. monetary policy expectations and currency movements. Traders will be watching the forthcoming Consumer Price Index data and any further developments in U.S. interest rate policy for signals on the next directional shift.
