Silver Rate in India Today, September 16, 2026: Prices Remain Steady for a 2nd Straight Session

New Delhi, Sept 16: Silver rates in India held steady on Wednesday, extending Tuesday’s two-tier city structure without a single city-level move. The national base rate stayed at ₹245 per gram, ₹2,450 per 10 grams and ₹2,45,000 per kilogram, matching Tuesday’s level across all ten cities tracked here. Chennai, Hyderabad and Kerala continued to command their ₹50 premium at ₹2,500 per 10 grams, unchanged from Tuesday, while the remaining seven cities — Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara and Ahmedabad — held flat at ₹2,450. 

Wednesday’s unchanged pricing extends the two-tier structure that first emerged on Tuesday, when Chennai, Hyderabad and Kerala moved up from a brief run of nationwide uniform pricing seen last Thursday and Friday. With the same three cities now holding their premium for a second consecutive session, dealers said the split increasingly looks like the default pattern for this stretch of the month, rather than a one-off adjustment. A completely flat day across all ten cities and all three weight categories is itself somewhat unusual, dealers added, and typically only happens when both global cues and local dealer premiums stay untouched overnight. 

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 tight range overnight, dealers said, with the lack of any fresh trigger abroad translating directly into an unusually quiet day for Indian city rates. 

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 Navratri still a few weeks away and Diwali further out, jewellers said footfall for silver coins, idols and small gift items remained steady rather than surging, a pattern they expect to build as the festive calendar progresses through October. 

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: Yesterday vs Today 

The tables below set Tuesday’s (Sept 15) silver rates for 10 major Indian cities against Wednesday’s (Sept 16) rates, quoted per 10 grams, per 100 grams and per kilogram. Every single city held exactly flat across all three denominations, with Chennai, Hyderabad and Kerala unchanged at their premium level and the remaining seven cities unchanged at the base rate. 

Silver Rates — 10 Grams 

City	Tue, Sep 15	Wed, Sep 16	Diff
Chennai	₹2,500	₹2,500	Flat
Mumbai	₹2,450	₹2,450	Flat
Delhi	₹2,450	₹2,450	Flat
Kolkata	₹2,450	₹2,450	Flat
Bangalore	₹2,450	₹2,450	Flat
Hyderabad	₹2,500	₹2,500	Flat
Kerala	₹2,500	₹2,500	Flat
Pune	₹2,450	₹2,450	Flat
Vadodara	₹2,450	₹2,450	Flat
Ahmedabad	₹2,450	₹2,450	Flat

Source: Goodreturns.in 

Silver Rates — 100 Grams 

City	Tue, Sep 15	Wed, Sep 16	Diff
Chennai	₹25,000	₹25,000	Flat
Mumbai	₹24,500	₹24,500	Flat
Delhi	₹24,500	₹24,500	Flat
Kolkata	₹24,500	₹24,500	Flat
Bangalore	₹24,500	₹24,500	Flat
Hyderabad	₹25,000	₹25,000	Flat
Kerala	₹25,000	₹25,000	Flat
Pune	₹24,500	₹24,500	Flat
Vadodara	₹24,500	₹24,500	Flat
Ahmedabad	₹24,500	₹24,500	Flat

Source: Goodreturns.in 

Silver Rates — 1 Kilogram 

City	Tue, Sep 15	Wed, Sep 16	Diff
Chennai	₹2,50,000	₹2,50,000	Flat
Mumbai	₹2,45,000	₹2,45,000	Flat
Delhi	₹2,45,000	₹2,45,000	Flat
Kolkata	₹2,45,000	₹2,45,000	Flat
Bangalore	₹2,45,000	₹2,45,000	Flat
Hyderabad	₹2,50,000	₹2,50,000	Flat
Kerala	₹2,50,000	₹2,50,000	Flat
Pune	₹2,45,000	₹2,45,000	Flat
Vadodara	₹2,45,000	₹2,45,000	Flat
Ahmedabad	₹2,45,000	₹2,45,000	Flat

Source: Goodreturns.in 

On Wednesday, silver rates stand at ₹2,50,000 per kilogram in Chennai, Hyderabad and Kerala, against ₹2,45,000 in the remaining seven cities, exactly where they stood a day earlier. 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. 

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 Wednesday morning, even as silver’s national pricing stayed completely unchanged. Senco Gold led the decliners, down 1.90%, followed by PN Gadgil Jewellers, off 1.41%, and Vaibhav Global, down 1.19%. Silgo Retail was the lone gainer among the four counters, up a modest 0.26%, the only stock in the group to hold its ground on an otherwise soft morning. Trading was still underway at the time of writing. 

Jewellery Stocks (Morning Trade) 

Company	Ticker	Price	Change
Senco Gold	SENCO	₹330.00	-₹6.40 (-1.90%)
PN Gadgil Jewellers	PNGJL	₹603.00	-₹8.60 (-1.41%)
Silgo Retail	SILGO	₹69.26	+₹0.18 (+0.26%)
Vaibhav Global	VAIBHAVGBL	₹206.80	-₹2.50 (-1.19%)

Source: NSE market data 

Senco Gold opened near ₹348.95, touched an early high of ₹351.00, then slid steadily through the morning to a low of ₹342.90 before a partial recovery toward ₹345.85 on volume-weighted terms, leaving the stock as the session’s steepest faller. PN Gadgil Jewellers opened at ₹606.00, spiked to a high of ₹619.70 within the first half hour, then reversed sharply to a low of ₹596.65 before settling back near ₹603.00, a swing of over ₹20 across the morning. Silgo Retail again traded in an unusually narrow band, opening at ₹68.99 and holding close to its ₹69.08 previous close through most of the session, drifting only marginally to a high of ₹69.55. Vaibhav Global opened flat at ₹209.30, fell through the morning to a low of ₹204.05, and made only a partial recovery to ₹206.80 by the time of writing. 

Market watchers said Wednesday’s broadly weaker session among jewellery counters, even as silver’s national pricing stayed frozen for a second straight day, points to company-specific factors continuing to drive individual stocks far more than the underlying metal’s own price action. Dealers said PN Gadgil Jewellers’ sharp intraday swing from a high of ₹619.70 to a low of ₹596.65 was the most notable move of the morning, while Silgo Retail’s continued narrow trading stood out as the calmest counter in the group for yet another session. With three of the four counters ending the morning in the red, analysts said the sector’s recent tendency to swing between a single leader and a broader decline appears to be holding, even as the metal itself gives dealers nothing fresh to react to.