Silver Rates Today, September 23, 2026: 10 gm Price Steady Across Major Cities on Wednesday

New Delhi, Sept 23: Silver in India was trading flat at ₹2,500 per 10 grams nationally on Wednesday morning, translating to ₹250 per gram and ₹2,50,000 per kilogram, according to Goodreturns.in, which tracks daily dealer-forum rates across major cities. 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 on their own. Trading on bullion exchanges was still underway through the morning, with rates remaining subject to revision as the day progressed. 

All ten major cities tracked held their rates unchanged from Tuesday’s close. Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara and Ahmedabad continued to quote silver at ₹2,500 per 10 grams, while Chennai, Hyderabad and Kerala held at ₹2,550 per 10 grams, extending the ₹50 premium the three southern markets have carried over the rest of the country since easing back from Monday’s sharp one-session jump. The lack of movement marked a pause after two sessions of divergence between the southern cluster and the rest of the country. 

City-Wise Silver Rates: Today vs Yesterday 

The table below sets Tuesday’s (Sept 22) 10-gram silver rates for ten major Indian cities against Wednesday’s (Sept 23) rates, along with the change over the session. 

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. Historically, silver always trades for a fraction of gold’s price on a per-gram basis, and 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 and subject to change through the trading day, so dealers advise confirming the final price with a local jeweller or bullion dealer before any purchase. 

India fetches its daily nationwide silver rates from designated dealer forums in each city, compiled and published every morning. Because these prices are subject to revision as global spot silver moves, the figures quoted at the start of trade can differ meaningfully from what a buyer is quoted later in the day, particularly during sessions when international metal markets are volatile. 

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 still in a wait-and-watch mode ahead of the run-up to Navratri and Diwali. Wednesday’s flat session, following Tuesday’s partial pullback in the three southern markets, has left dealers watching whether the ₹50 premium in Chennai, Hyderabad and Kerala narrows further or persists into the coming sessions. Bulk buyers of coins and bars for gifting later in the year remain most sensitive to these day-to-day swings, jewellers added, 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 were mostly higher in mid-morning trade on Wednesday, tracking firmer sentiment in the broader market. Of the four counters tracked, Senco Gold, PN Gadgil Jewellers and Vaibhav Global were all trading higher, while Silgo Retail was the lone laggard among the group, with Senco Gold the session’s strongest performer. 

Source: NSE market data 

Senco Gold opened at ₹338.35 against a previous close of ₹337.35, rallied through the morning to a high of ₹346.35, eased to a low of ₹338.15, then settled at ₹342.55 by mid-morning, a gain of 1.54 per cent with the stock trading above its volume-weighted average price of ₹342.01. PN Gadgil Jewellers opened flat at ₹598.40, matching its previous close, climbed to a high of ₹607.50, dipped to a low of ₹593.70 around mid-session, then recovered to trade at ₹600.50, a gain of 0.35 per cent and just above its VWAP of ₹600.10. 

Silgo Retail opened higher at ₹71.00 against a previous close of ₹70.92, touched the same level as its high, then slid through the morning to a low of ₹70.02 before recovering only part of the way to ₹70.38, a decline of 0.76 per cent and the session’s only loser among the four counters, trading below its VWAP of ₹70.50. Vaibhav Global opened at ₹208.05 against a previous close of ₹208.18, climbed steadily to a high of ₹212.00, eased to a low of ₹208.00, and was trading at ₹210.39, up 1.06 per cent, just below its VWAP of ₹210.98. 

Market watchers said Wednesday’s broadly positive session, with three of the four counters higher, points to a firmer read-through from silver prices, which held flat across most major city markets through the morning. Senco Gold’s sharp rally from its opening level to a fresh intraday high stood out as the clearest gainer among the four, while Silgo Retail’s slide from its early high marked it as the session’s weakest counter. PN Gadgil Jewellers, which had dipped well below its previous close by mid-morning, staged a steady recovery to trade comfortably in positive territory by the time of writing. 

Trading volumes across the four counters were broadly in line with recent sessions, dealers said, with Senco Gold and Vaibhav Global seeing the heaviest turnover. Buying interest outweighed selling interest on three of the four counters by mid-morning, order book data showed, suggesting fresh accumulation rather than a shift in the underlying trend. 

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.