Silver Price Today, September 28, 2026: Rates Slip ₹50 per 10 gm Across 10 Cities on Monday

New Delhi, Sept 28: Silver in India slipped to ₹2,400 per 10 grams nationally on Monday morning, translating to ₹240 per gram and ₹2,40,000 per kilogram. The move marked a ₹50 fall from Friday’s ₹2,450 level, ending the flat run that followed last Thursday’s decline. Silver price in India is largely determined by international prices, which move the 10-gram rate in either direction through the day, and local demand and supply typically play only a marginal role in shifting city-level rates. Rates remain subject to revision as trading progresses. 

All 10 major cities tracked moved lower in lockstep, each shedding ₹50 over the period. Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara and Ahmedabad eased to ₹2,400 per 10 grams from ₹2,450, while Chennai, Hyderabad and Kerala slipped to ₹2,450 per 10 grams from ₹2,500, keeping the ₹50 premium the three southern markets have carried over the rest of the country intact. Friday’s rates had been unchanged from Thursday across all ten cities. 

City-Wise Silver Rates: Today vs Friday 

The table below sets Friday’s (Sept 25) 10-gram silver rates for ten major Indian cities against Monday’s (Sept 28) rates, along with the change over the period. 

Source: Goodreturns.in 

Retail buyers have continued to treat silver as a lower-cost entry point into precious metals, helped by its far smaller per-gram price compared with gold. Investors looking to gain exposure to the metal without the hassle of storage or purity checks could consider Silver ETFs, which track the metal’s price rather than requiring physical delivery. 

Silver jewellery and ornaments typically cost more than the flat 10-gram rates listed above once making charges are added, along with a 3 per cent GST levied on metallic silver. Buyers should factor in these additional costs before comparing quoted bullion rates against what a jeweller ultimately charges at the counter. Rates published here are indicative, so dealers advise confirming the final price with a local jeweller or bullion dealer before any purchase. 

With the festive season drawing closer, jewellers said footfall for silver coins, idols and small gift items has remained steady rather than picking up sharply, with most buyers in a wait-and-watch mode ahead of Navratri and Diwali. Monday’s fall has left dealers watching whether the decline extends through the week. Bulk buyers of coins and bars for gifting later in the year remain most sensitive to such swings, since even a modest move translates into a meaningful rupee difference at kilogram scale. 

Jewellery Stocks Today 

Shares of listed jewellery and bullion-linked companies fell in late-morning trade on Monday, tracking a weak broader market. The Nifty 50 was trading at 22,832.10 at 11:30 IST, down 308.40 points or 1.33 per cent, while Gift Nifty futures were down 1.53 per cent. All four counters tracked were in the red, with Vaibhav Global the session’s weakest performer, followed by PN Gadgil Jewellers, Senco Gold and Silgo Retail. 

Source: NSE market data 

Vaibhav Global opened lower at ₹204.50 against a previous close of ₹206.38, touched a high of ₹205.81, then slid to a low of ₹200.47 and was trading at ₹201.03, down 2.59 per cent and below its volume-weighted average price of ₹201.67. PN Gadgil Jewellers opened sharply higher at ₹617.00 against a previous close of ₹605.50 and reached a high of ₹617.80, but gave up the entire gain, falling to a low of ₹590.00 before trading at ₹592.40, down 2.16 per cent and well below its VWAP of ₹597.89. 

Senco Gold opened flat at ₹336.00 against a previous close of ₹336.00 and never traded above that level, sliding to a low of ₹327.55 before recovering to ₹330.90, a decline of 1.52 per cent, still above its VWAP of ₹330.30. Silgo Retail opened at ₹70.10 against a previous close of ₹69.79, but slipped to a low of ₹69.49 and was trading at ₹69.75, down just 0.06 per cent, above its VWAP of ₹69.66. 

Market watchers said Monday’s uniform decline reflects a risk-off mood in the wider market rather than a reaction to silver alone. Vaibhav Global and PN Gadgil Jewellers fell by more than the Nifty 50, while Senco Gold held closer to the benchmark and Silgo Retail was nearly flat. PN Gadgil’s reversal from a strong opening gain to a fresh intraday low stood out as the sharpest change in direction among the four. 

Order book data showed a split picture: buying interest outweighed selling only on Silgo Retail, at 64.59 per cent of total quantity, while Senco Gold, PN Gadgil Jewellers and Vaibhav Global all saw sell orders in the majority, suggesting the declines were not uniformly met with dip buying across the group. 

Investors looking to diversify beyond physical silver can also explore the list of Silver ETFs in India, which allow exposure to silver prices without the need to store physical metal: https://hdfcsky.com/etf/silver-etf 

Source

• Goodreturns.in
• NSE market data
• Rates are indicative and subject to change; confirm with your local dealer before purchase.