Silver Prices in India Today, September 8, 2026: Rates Remain Steady on Tuesday

New Delhi, Sept 8: Silver prices in India held exactly steady on Tuesday, with the national rate for the metal unchanged at ₹250 per gram, ₹2,500 per 10 grams, and ₹2,50,000 per kilogram. The flat quote follows an equally calm Monday, marking a second straight session without any directional move, with dealers describing the market as content to sit on the sidelines as it awaits a fresh catalyst. 

Silver price in India is determined largely by international prices, which move in either direction depending on global industrial demand, investment flows and mining supply. Currency movement also plays a part: if the rupee weakens against the dollar while international silver prices hold firm, the metal tends to become costlier in India. Tuesday’s unchanged opening suggests global spot silver held on to Monday’s levels overnight, with international markets showing little appetite to push prices in either direction during the early Asian trading session. 

Dealers said the back-to-back flat sessions reflect a broader pause across precious metals, even as gold posted modest gains on Tuesday. Traders noted that silver’s steadier disposition compared with gold is not unusual, since the metal’s price action is shaped as much by industrial demand cycles as by the safe-haven flows that tend to move gold more sharply. With no major overnight development on the geopolitical or economic front, participants said Tuesday’s calm looks set to persist through the middle of the week unless a clear catalyst emerges. Some traders added that the divergence between gold’s uptick and silver’s flat line this week is itself a notable data point, hinting that the two metals may be trading on somewhat different drivers for now rather than moving purely in lockstep. 

Market participants added that retail investors continue to treat silver as an accessible entry point into precious metals, given its lower per-unit cost compared with gold. Analysts noted that silver’s steadier day-to-day moves compared with gold continue to make it an appealing option for investors seeking exposure to precious metals without sharper volatility. Some dealers pointed to steady industrial buying interest, particularly from the electronics and solar-panel manufacturing segments, as a factor helping keep a floor under prices even during flat sessions. Rates are updated daily based on data sourced from precious metals dealers across the country, and buyers are advised to confirm exact pricing before heading to a jewellery or bullion counter. 

City-Wise Silver Rates: Monday vs Tuesday 

The table below sets Monday’s (Sept 7) silver rates for 10 major Indian cities against Tuesday’s (Sept 8) rates, quoted per 10 grams. Every city held exactly steady for a second consecutive session, leaving relative premiums between cities unchanged. Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara and Ahmedabad continue to price silver at ₹2,500 per 10 grams, while Chennai, Hyderabad and Kerala remain at a modest premium of ₹2,550 per 10 grams. 

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

Source: Goodreturns.in 

On a per-kilogram basis, Tuesday’s rates stay at ₹2,55,000 in Chennai, Hyderabad and Kerala, and ₹2,50,000 in the remaining seven cities, unchanged across every market for a second straight day. Retail buyers are reminded that these are indicative bullion rates, and actual prices at silverware and jewellery counters will typically include additional making charges and applicable GST on top of the base metal value. 

Market watchers said the back-to-back flat sessions suggest silver has settled into a narrow band to start the week, even as gold posted a modest gain on Tuesday. With the two metals moving somewhat independently this week, dealers said the coming sessions will show whether silver continues to hold its own range or eventually falls in line with gold’s firmer tone. 

Historically, silver has traded at a small fraction of gold’s price per gram, and Tuesday’s steady session did little to change that relationship. Analysts tracking the gold-silver ratio said the pause was a reminder that while silver often moves independently on industrial-demand cues, sharp swings in geopolitical or macroeconomic sentiment tend to pull both metals in the same direction, and calmer sessions like Tuesday’s typically see the two decouple again, at least for a few days at a stretch. 

Investors who are looking to diversify beyond physical silver can also explore the list of Silver ETFs in India, which track silver prices without the need to store physical metal. 

Jewellery Stocks Today 

Shares of jewellery companies with a meaningful presence in silverware and studded silver jewellery were mostly lower in mid-morning trade on Tuesday, a reversal from Monday’s broadly positive session, with three of the four stocks in the group slipping into the red. Silgo Retail led the decliners with a fall of over 1%, followed closely by Senco Gold, which also shed more than 1%. Vaibhav Global posted a smaller decline, while PN Gadgil Jewellers was the lone gainer among the four counters, adding a modest 0.75%. Trading was still underway through the morning session at the time of writing. 

Jewellery Stocks (Mid-Morning Trade) 

Source: NSE market data 

Senco Gold’s intraday chart showed the stock opening well above its previous close before giving up those gains sharply within the first few minutes of trade, then drifting lower through the rest of the morning in a steady downtrend. Silgo Retail followed a similar pattern, opening at its high for the session before sliding through the morning to settle near its lows. PN Gadgil Jewellers, by contrast, spent the morning recovering from an early dip, with its order book showing sell-side interest slightly ahead of buy-side demand even as the stock pushed back into positive territory. Vaibhav Global traded in a choppy range through the session, with buyers and sellers running almost evenly matched on the order book. 

Market watchers said Tuesday’s mostly weaker session among silver-linked jewellery counters stands in contrast to the steadiness seen in the underlying metal itself, suggesting stock-specific profit-booking after Monday’s rally is playing a bigger role than any shift in silver’s own outlook. Dealers expect silver’s near-term path to stay closely tied to gold’s movement and global cues through the week, with a quiet data calendar likely to keep both metals within familiar ranges in the absence of a fresh trigger.