Silver Price Today, October 1, 2026: South India Premium Returns as Rates Split Across Cities

New Delhi, Oct 1: Silver has dropped to Rs 2,350 per 10 grams today in most parts of India as of Thursday morning. That’s Rs 235 per gram or Rs 2,35,000 per kg. Chennai, Hyderabad and Kerala continue to be at a premium, with prices at Rs 2,450 per 10 grams, i.e., Rs 245 per gram or Rs 2,45,000 per kg. National silver prices have declined by Rs 50 per 10 grams today, which is a drop of around 2.08% from yesterday, when all cities were at Rs 2,400. Meanwhile, in Chennai, Hyderabad and Kerala, prices went up by Rs 50. After being at the same rate on Wednesday, we see a gap of Rs 100 again. Silver prices in India depend on international silver prices. Prices may increase or decrease during the day depending on global prices. 

The cities that saw a drop of Rs 50 are Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara and Ahmedabad. They were all at Rs 2,400 on Wednesday but are now at Rs 2,350 per 10 grams. On the other hand, Chennai, Hyderabad and Kerala saw an increase of Rs 50, from Rs 2,400 to Rs 2,450. Ending Wednesday’s one-day streak of all cities having the same rate, we see South India at a premium again. If you compare prices for 100 grams, there is a difference of Rs 1,000. Most cities are at Rs 23,500, while Chennai, Hyderabad and Kerala are at Rs 24,500. 

City-Wise Silver Prices: Today vs Yesterday 

Below are the silver rates per 10 grams in 10 cities across India on Wednesday, September 30, and today, Thursday, October 1, along with the difference between the two days. 

Source: Goodreturns.in 

As always, many retail customers buy silver because they feel it is cheaper than gold. Since silver is much cheaper per gram, people prefer it over gold. You can also invest in silver ETFs if you don’t want to buy the physical metal. With prices going down today, the decline could attract small customers looking to buy silver. However, customers in Chennai, Hyderabad and Kerala will have to pay more per gram. 

You’ll be paying more for silver jewellery than the rates mentioned above, as making charges are added to the silver prices, along with 3% GST on silver. Keep this in mind when comparing silver prices in the market. These prices are only for reference, and you must confirm the rates with your jeweller or dealer before buying. 

Silver demand has remained steady in the run-up to the festive season. Customers are still in wait-and-watch mode ahead of Navratri and Diwali. With prices going up and down, jewellers are expecting similar trends in the coming weeks. Customers who want to buy coins in bulk for gifting will notice a big difference of Rs 10,000 per kg. 

Jewellery Stocks Today 

Shares of listed jewellery and bullion-linked companies were mostly lower in late-morning trade on Thursday, with the broader market in the red. The Nifty 50 was trading around 22,559, down about 0.27 per cent, with the Nifty 50 USD index down 0.43 per cent. Silgo Retail was the only gainer among the four counters tracked, while PN Gadgil Jewellers was the session’s standout loser. 

Source: NSE market data 

PN Gadgil Jewellers opened at ₹588.05 against a previous close of ₹590.15, touched a high of ₹589.45, then fell steadily to a low of ₹577.00 and was trading at ₹577.25, down 2.19 per cent and below its volume-weighted average price of ₹580.84. Vaibhav Global opened at ₹203.25 against a previous close of ₹204.32, spiked to ₹205.78 in the opening minutes, then drifted lower through the morning to a low of ₹201.71 and was trading at ₹202.10, down 1.09 per cent and below its VWAP of ₹203.58. 

Senco Gold opened at ₹329.00, touched a high of ₹332.70 early on, then slid through the morning and was trading at ₹318.30, down 0.83 per cent and below its VWAP of ₹330.29. Silgo Retail bucked the trend, opening lower at ₹68.80 against a previous close of ₹70.21 and dipping to a low of ₹68.39 before climbing to a high of ₹70.78. It was trading at ₹70.39, up a modest 0.26 per cent and above its VWAP of ₹69.87. 

Market watchers said the split outcome, with three counters lower and one higher as the broader market also weakened, points to stock-specific positioning rather than a clean read-through from silver’s mixed city rates. PN Gadgil’s slide to a fresh intraday low was the sharpest move among the four, while Silgo Retail’s recovery from a weak open stood out as the only gain. Traders will watch whether bullion-linked stocks track silver or the wider market through the afternoon session, since Thursday’s moves suggest company-specific factors are currently outweighing the metal. 

Order book data showed selling pressure dominated on three of the four counters. Sell orders made up 62.79 per cent of total quantity on Senco Gold and 58.78 per cent on PN Gadgil Jewellers, while Vaibhav Global was nearly balanced with 50.88 per cent sell-side quantity. Silgo Retail was the only counter where buying led, at 65.42 per cent of total quantity, in line with its gains. 

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.