Silver Prices in India Today, September 9, 2026: Rates Remain Steady on Wednesday

Mumbai, September 9: Silver rates today traded flat in India for the third consecutive session on Wednesday. Prices of the white metal have now settled into a narrow range after heading largely sideways since last weekend. Silver traded unchanged at ₹250 per gram, ₹2,500 per 10 grams and ₹2,50,000 per kilogram across the country on Wednesday.

The longer-than-usual lull in price movement comes despite gold falling over ₹500 on Wednesday, showing how silver rarely follows its bigger cousin move for move these days. Silver price in India largely follows international trends since demand and supply here is too thin to sway prices by itself. Demand from industry as well as investment buyers overseas, coupled with mining supply, determines global silver prices while currency moves impact the rupee-cost of those imports.  

If the rupee slips against the dollar and international silver prices do not change much, it immediately becomes costlier for domestic buyers and vice versa. That means global spot silver prices ended nearly where they started Tuesday for Wednesday’s session after trending within a narrow band throughout last week. They stayed unchanged at the open on Wednesday too, signalling that traders in overseas markets have shown little interest in meaningfully pushing prices in either direction so far this week.  

“We don’t usually see three flat sessions in silver even though it’s less volatile than gold,” said a dealer in the national capital. “There just isn’t that much buying or selling interest right now.”  

Analysts also attributed the lacklustre price movement to subdued interest from industrial buyers of silver and investors alike. One Delhi-based trader said while gold prices corrected on Wednesday after rising firmer earlier in the week, silver failing to rally or fall with gold shows that investors are not getting swayed by moves in gold and are pricing silver based on its own fundamentals. “If this range is broken, we’ll get a better idea of which way the metal will head next,” the dealer added.  

Retail buyers have continued to use silver purchases as an entry point into owning some exposure to precious metals, and its lower price per gram compared with gold has made it a more accessible buy. Silver’s daily price movements have also been less extreme compared with gold of late, making it another reason some investors choose to trade the white metal. Some dealers pointed to continued buying interest for silver from industrial users in the electronics and solar-panels sectors helping support prices.  

India fetches daily nationwide silver rates from designated dealer forums in each city, which are 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 we advise customers to confirm the price their jeweller will offer them before making a purchase.  

City-Wise Silver Rates: Tuesday vs Wednesday 

The table below sets Tuesday’s (Sept 8) silver rates for 10 major Indian cities against Wednesday’s (Sept 9) rates, quoted per 10 grams. Every city held exactly steady for a third consecutive session, leaving relative premiums 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) 

City	Tue, Sep 8	Wed, Sep 9	Diff
Chennai	₹2,550	₹2,550	Flat
Mumbai	₹2,500	₹2,500	Flat
Delhi	₹2,500	₹2,500	Flat
Kolkata	₹2,500	₹2,500	Flat
Bangalore	₹2,500	₹2,500	Flat
Hyderabad	₹2,550	₹2,550	Flat
Kerala	₹2,550	₹2,550	Flat
Pune	₹2,500	₹2,500	Flat
Vadodara	₹2,500	₹2,500	Flat
Ahmedabad	₹2,500	₹2,500	Flat

Source: Goodreturns.in 

On Wednesday, silver rates stand at ₹2,50,000 and ₹2,55,000 per kilogram in cities with the former metal trading at ₹2,500 per 10 grams, and ₹2,550 where it commands a slight premium. Rates have remained steady for three sessions across the board. Silver jewellery and ornaments will typically cost more than the per-gram rates shown here due to what’s called making charges. There’s also a 3% GST levied on metallic silver.  

Wednesday’s flat price action shows traders and investors are undecided about silver’s next move, even as lacklustre demand continues to keep prices in its current tight range. This comes even as gold prices fell sharply during Wednesday’s session, highlighting how sensitive the yellow metal remains to sudden bursts of buying and selling interest right now.  

“The lack of movement in silver is what’s really interesting,” said a dealer from Mumbai. “If it starts to edge higher or drop on Thursday and Friday, that could be the trigger investors are looking for. For now, though, there just isn’t a lot of interest one way or the other.”  

Historically speaking, silver always trades for less than gold on a per gram basis. Gold surged higher on Monday and Tuesday, while silver did too but not quite by as much. This means even though silver is down less than gold this week, the gap between the two has technically widened.  

Investors looking to gain silver exposure without purchasing 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 allow retailers to mark up prices at the jewellery store. That’s why investors looking to buy metallic silver should focus on bars and coins instead of jewellery. Pure silver is 999 fine. 

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 Wednesday, with three of the four stocks slipping into the red. PN Gadgil Jewellers led the decliners with a fall of more than 2%, followed by Senco Gold, which shed a further 0.44%. Silgo Retail posted a smaller decline, while Vaibhav Global was the lone gainer among the four counters, edging up 0.41%. Trading was still underway through the morning session at the time of writing. 

Jewellery Stocks (Mid-Morning Trade) 

Company	Ticker	Price	Change
Senco Gold	SENCO	₹360.25	-₹1.60 (-0.44%)
PN Gadgil Jewellers	PNGJL	₹614.05	-₹13.40 (-2.14%)
Silgo Retail	SILGO	₹71.32	-₹0.17 (-0.24%)
Vaibhav Global	VAIBHAVGBL	₹216.86	+₹0.88 (+0.41%)

Source: NSE market data 

PN Gadgil Jewellers’ intraday chart showed the stock opening near its high before sliding steadily through the morning, briefly stabilising mid-morning before dipping again toward its lows. Senco Gold followed a broadly similar pattern, opening below its previous close and drifting lower before finding a floor and recovering modestly through the rest of the session. Silgo Retail traded in an unusually narrow band, with its price barely moving from the opening level for much of the session. Vaibhav Global, by contrast, spent the morning grinding higher after an early dip, with its order book showing buyers and sellers running close to evenly matched even as the stock pushed into positive territory. 

Market watchers said Wednesday’s mostly weaker session among silver-linked jewellery counters, coming even as the underlying metal itself stayed flat for a third day, points to stock-specific factors driving individual counters more than any shift in silver’s own outlook. Dealers expect silver’s near-term path to stay tied to global cues through the rest of the week, with the metal’s unusually long flat stretch likely to keep drawing attention until it eventually breaks in one direction or the other.