Silver Rate in India Today, September 15, 2026: Prices in South Reclaim ₹50 Premium

New Delhi, Sept 15: Silver rates in India were mixed on Tuesday, the first trading session since Friday’s close after markets stayed shut for the weekend and Monday’s Ganesh Chaturthi holiday. The national base rate held at ₹245 per gram, ₹2,450 per 10 grams and ₹2,45,000 per kilogram, unchanged from Friday in seven of the ten cities tracked here. Chennai, Hyderabad and Kerala, however, moved up to ₹2,500 per 10 grams, re-establishing the ₹50 premium these three cities have periodically commanded over the rest of the country. 

Tuesday’s split ends the brief run of nationwide uniform pricing that had held through Thursday and Friday of last week, when all ten cities moved in perfect lockstep. The return of a two-tier structure — a familiar pattern from earlier in the month — suggests the uniform pricing seen last week may have been a temporary alignment of local dealer premiums rather than a lasting shift in how silver is priced across the country. 

Silver price in India largely follows international trends since demand and supply here is too thin to sway prices by itself. Demand from industry and investment buyers overseas, coupled with mining supply, determines global silver prices, while currency moves impact the rupee-cost of those imports. Global spot silver traded in a narrow range over the long weekend, dealers said, with the modest divergence in Indian city rates likely reflecting local dealer adjustments rather than any fresh move in the underlying metal. 

Retail buyers have continued to use silver purchases as an entry point into precious metals, and its lower price per gram compared with gold makes it a more accessible buy. With Ganesh Chaturthi celebrations concluding over the long weekend and Navratri still ahead, jewellers said footfall for silver coins, idols and small gift items had picked up noticeably, a seasonal pattern that typically continues building through the festive stretch. 

India fetches daily nationwide silver rates from designated dealer forums in each city, compiled and published here each morning. These rates are subject to change by the time you arrive at a jewellery or bullion dealer later in the day, so confirm the price your jeweller will offer before making a purchase. 

City-Wise Silver Rates: Friday vs Today 

The table below sets Friday’s (Sept 11) silver rates for 10 major Indian cities against Tuesday’s (Sept 15) rates, quoted per 10 grams, spanning the three-day gap from the weekend and Monday’s holiday. Seven cities held flat at ₹2,450, while Chennai, Hyderabad and Kerala rose ₹50 to ₹2,500, restoring the premium these cities have shown at various points earlier in the month. 

City-Wise Silver Rates (10 Major Cities, per 10 gm) 

Source: Goodreturns.in 

On Tuesday, silver rates stand at ₹2,50,000 per kilogram in Chennai, Hyderabad and Kerala, against ₹2,45,000 in the remaining seven cities. Silver jewellery and ornaments typically cost more than the per-gram rates shown here due to making charges, plus a 3% GST levied on metallic silver. 

“It’s worth remembering these three cities have shown this exact premium before, earlier in the week,” said a dealer from Mumbai. “The uniform pricing on Thursday and Friday may simply have been the outlier, not the other way around.” 

Historically, silver always trades for less than gold on a per gram basis. Investors looking to gain silver exposure without buying the physical metal could check out Silver ETFs in India: https://hdfcsky.com/etf/silver-etf 

Silver articles and jewellery typically contain other metals like copper, which let retailers mark up prices at the jewellery store. That’s why investors buying metallic silver should focus on bars and coins instead of jewellery. Pure silver is 999 fine. 

Jewellery Stocks Today 

Jewellery stocks were mostly lower on Tuesday morning, even as silver itself stayed largely range-bound. PN Gadgil Jewellers led the decliners, down 0.45%, followed by Senco Gold, off 0.23%, and Silgo Retail, down a marginal 0.14%. Vaibhav Global was the lone gainer among the four counters, up 0.95%, reversing Friday’s decline to once again lead the pack, extending the stock’s pattern of alternating between the session’s best and worst performer through the week. Trading was still underway at the time of writing. 

Jewellery Stocks (Morning Trade) 

Source: NSE market data 

Senco Gold opened above its previous close and touched an early high of ₹351.00 before sliding through the rest of the morning to a low of ₹342.90, then recovering modestly to trade near ₹345.60. PN Gadgil Jewellers opened flat and swung in a choppy range through the session, touching a high of ₹616.75 before drifting lower into late morning. Silgo Retail continued its recent pattern of unusually narrow trading, staying within a tight band through most of the session with little separation between its high and low. Vaibhav Global was the standout, climbing from an early dip to a high of ₹217.98 by mid-morning before easing slightly, though it held on to most of its gains through the time of writing. 

Market watchers said Tuesday’s mostly lower session among jewellery counters, even as silver’s national pricing stayed largely unchanged, points to company-specific factors continuing to drive individual stocks more than the underlying metal’s own price action. Dealers said Vaibhav Global’s reversal back to the top of the pack, after leading declines on Friday, was the most notable move of the morning.