Silver Price Today: Rate Steady at Rs 2,200 per 10 gm in 7 Cities; Chennai, Hyderabad, Kerala Fall Rs 50

New Delhi, Oct 26: Silver is priced at Rs. 2,200 for 10 grams in all 10 cities tracked by Goodreturns.in on Monday, which makes it Rs. 22,000 for 100 grams and Rs. 2,20,000 for a kilogram. The rate works out to Rs. 220 per gram, which is the national rate. It is unchanged from Friday in seven cities, while Chennai, Hyderabad and Kerala are Rs. 50 cheaper than they were on Friday. 

Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara and Ahmedabad stayed at Rs. 2,200 per 10 grams, the level they reached on Friday after a Rs. 50 cut. The three southern markets, at Rs. 2,250 on Friday, have now come down to the level of the rest of the country and no longer carry their Rs. 50 premium. In those three cities, 100 grams is Rs. 500 cheaper and a kilogram is Rs. 5,000 cheaper than on Friday, a fall of about 2.2 per cent. Ten grams of silver now costs the same in every city we track. 

Silver price in India follows international prices, which can move the 10 gram rate in either direction, while local demand and supply play only a marginal role in city-level rates. In the seven cities, the rate fell from Rs. 2,300 on Wednesday, October 21, to Rs. 2,250 on Thursday and Rs. 2,200 on Friday, and Monday’s session did not add to that. Taken from Monday, October 19, the rate is Rs. 100 lower in the seven cities, a drop of about 4.3 per cent, and Rs. 200 lower in the three southern markets, a drop of about 8.3 per cent. 

Domestic equities were firmer. The Nifty 50 was at 22,664.60 at 10:25 am, up 64.60 points or 0.29 per cent from Friday’s close of 22,600.00. 

City-Wise Prices 

Silver prices in 10 cities across India on Friday, October 23, and Monday, October 26, per 10 grams, along with the difference. Seven cities are unchanged and three have fallen by Rs. 50. 

City	Fri, Oct 23	Mon, Oct 26	Diff
Chennai	₹2,250	₹2,200	-₹50
Mumbai	₹2,200	₹2,200	₹0
Delhi	₹2,200	₹2,200	₹0
Kolkata	₹2,200	₹2,200	₹0
Bangalore	₹2,200	₹2,200	₹0
Hyderabad	₹2,250	₹2,200	-₹50
Kerala	₹2,250	₹2,200	-₹50
Pune	₹2,200	₹2,200	₹0
Vadodara	₹2,200	₹2,200	₹0
Ahmedabad	₹2,200	₹2,200	₹0

Source: Goodreturns.in 

The change is larger over a longer stretch. The table below sets Monday’s rates against those of Monday, October 12, per 10 grams. 

City	Mon, Oct 12	Mon, Oct 26	Diff
Chennai	₹2,450	₹2,200	-₹250
Mumbai	₹2,400	₹2,200	-₹200
Delhi	₹2,400	₹2,200	-₹200
Kolkata	₹2,400	₹2,200	-₹200
Bangalore	₹2,400	₹2,200	-₹200
Hyderabad	₹2,450	₹2,200	-₹250
Kerala	₹2,450	₹2,200	-₹250
Pune	₹2,400	₹2,200	-₹200
Vadodara	₹2,400	₹2,200	-₹200
Ahmedabad	₹2,400	₹2,200	-₹200

Source: Goodreturns.in 

Every city is lower over the 14 days. The seven cities that carried the lower rate are down Rs. 200 per 10 grams, a fall of about 8.3 per cent, while Chennai, Hyderabad and Kerala are down Rs. 250, a fall of about 10.2 per cent. A kilogram of silver costs Rs. 20,000 less in the seven cities than it did on October 12 and Rs. 25,000 less in the three southern cities. 

These are rates for the metal alone. Silver jewellery costs more once making charges and 3% GST are added. On a 10 gram purchase at Rs. 2,200, the GST alone comes to Rs. 66, which takes the cost to Rs. 2,266 before making charges. On 100 grams at Rs. 22,000, the GST comes to Rs. 660. 

With Dussehra behind us and Dhanteras and Diwali less than two weeks away, coins, idols and utensils tend to draw buyers. At Rs. 2,200 per 10 grams, 50 grams of silver costs Rs. 11,000 and 500 grams costs Rs. 1,10,000 before charges and GST. The question is whether Rs. 2,200 holds as a floor now that all 10 cities are at the same level. 

Jewellery Stocks Today 

Jewellery stocks were mixed in morning trade on Monday as the Nifty 50 rose 0.29 per cent. Vaibhav Global (VAIBHAVGBL) gained 1.40 per cent and Silgo Retail (SILGO) 0.18 per cent, while PN Gadgil Jewellers (PNGJL) fell 1.03 per cent and Senco Gold (SENCO) 0.73 per cent. 

Company	Ticker	Price	Change
Senco Gold	SENCO	₹307.05	-₹2.25 (-0.73%)
PN Gadgil Jewellers	PNGJL	₹566.75	-₹5.90 (-1.03%)
Silgo Retail	SILGO	₹68.50	+₹0.12 (+0.18%)
Vaibhav Global	VAIBHAVGBL	₹190.10	+₹2.62 (+1.40%)

Source: NSE market data 

Senco Gold was trading at ₹307.05 around 10:23 am, down ₹2.25 or 0.73 per cent from Friday’s close of ₹309.30. It opened at ₹306.85, below the previous close, and touched a high of ₹309.20 in early trade. It then slid to a low of ₹301.00, 2.7 per cent below the previous close, before recovering most of that drop. It is trading above its volume-weighted average price (VWAP) of ₹305.01. 

PN Gadgil Jewellers opened at ₹569.70 against a previous close of ₹572.65, a gap-down of about 0.5 per cent, and that opening level was also its high of the day. It then slipped in steps to a low of ₹556.30, 2.9 per cent below the previous close, and has since recovered part of the fall. It is at ₹566.75, down ₹5.90 or 1.03 per cent, but above its VWAP of ₹562.62. 

Vaibhav Global opened at ₹187.25 against a previous close of ₹187.48. It fell early to a low of ₹182.50, 2.7 per cent below the previous close, and then climbed through the morning to a high of ₹191.98, 2.4 per cent above it. It is trading at ₹190.10, up ₹2.62 or 1.40 per cent, and above its VWAP of ₹187.44. 

Silgo Retail opened at ₹68.38, the same as its previous close. It touched a high of ₹68.89, 0.7 per cent above the previous close, and a low of ₹68.01, 0.5 per cent below it. It is trading at ₹68.50, up ₹0.12 or 0.18 per cent, and just below its VWAP of ₹68.53. 

Order book data showed a split. Senco Gold had 56.26 per cent of total quantity on the sell side, with 1,38,449 shares against 1,07,631 on the buy side. PN Gadgil Jewellers was at 63.43 per cent sell, with 61,359 against 35,376, and Vaibhav Global at 52.07 per cent, with 48,003 against 44,181. Silgo Retail was nearly balanced, with 50.26 per cent on the buy side at 11,910 shares against 11,787 on the sell side. 

Gold Rates Today 

Gold prices were little changed on Monday, with 24-carat gold at Rs 1,42,570 per 10 grams, 22-carat at Rs 1,30,690 and 18-carat at Rs 1,06,930 in the Mumbai cluster of cities, according to Goodreturns. That is Rs 90 higher than Friday’s Rs 1,42,480 for 24-carat gold in most cities. Delhi is dearer at Rs 1,42,720 for 24-carat gold per 10 grams, while Vadodara and Ahmedabad are at Rs 1,42,620. On a per-gram basis, 24-carat gold costs Rs 14,257, 22-carat Rs 13,069 and 18-carat Rs 10,693. 

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.