Silver prices remained unchanged in India on Monday, September 21, 2026, with the latest domestic rate at ₹255 per gram or ₹2.55 lakh per kg. The metal has moved higher from its September lows, although international interest rates, the US dollar, crude oil prices and geopolitical developments continue to influence the market.
Silver had remained around ₹2.45 lakh per kg earlier in September before moving to ₹2.50 lakh and then ₹2.55 lakh. Between September 11 and September 20, the metal gained ₹10,000 per kg, translating into a rise of about 4.08%.
In the international market, silver futures reached $66.78 per ounce on September 18 after rising 2.39%. The precious metal market continues to react closely to monetary policy and currency movements.
Silver Rate Today in India
The latest domestic silver reference rates are:
| Quantity | Silver Rate |
|---|---|
| 1 gram | ₹255 |
| 10 grams | ₹2,550 |
| 100 grams | ₹25,500 |
| 1 kilogram | ₹2,55,000 |
There was no change from the previous quoted domestic rate. Chennai, Hyderabad and Kerala were reporting around ₹2.60 lakh per kg, while Delhi, Mumbai, Kolkata and several other major markets were around ₹2.55 lakh per kg.
These prices are indicative and may not include GST, making charges, dealer margins or other applicable costs.
Silver Rate in Delhi
Silver in Delhi was quoted at ₹2,55,000 per kg on September 21, unchanged from the previous reported rate.
| Quantity | Delhi Silver Rate |
|---|---|
| 1 gram | ₹255 |
| 10 grams | ₹2,550 |
| 100 grams | ₹25,500 |
| 1 kilogram | ₹2,55,000 |
The current stability comes after silver moved upward in ₹5,000-per-kg steps at different points during September.
International Silver and MCX Performance
International silver prices remained closely connected with US monetary policy and movements in the dollar. Silver futures rose 2.39% to $66.78 per ounce on September 18, while silver gained 2.3% in the broader precious-metal index on Friday.
The US Federal Reserve raised interest rates by 25 basis points to a range of 3.75%-4.00% on September 16. Higher US rates and a stronger dollar can weigh on precious metals, while lower rates and safe-haven demand can provide support.
For Indian buyers and investors, the rupee-dollar exchange rate is another important factor because international silver prices are converted into domestic currency.
On the Multi Commodity Exchange, December silver futures climbed ₹2,978, or 1.25%, to ₹2,41,183 per kg on September 18. A total of 3,082 lots changed hands.
| Date | Silver Reference | Move |
|---|---|---|
| September 16 | About $64.29/oz | +1.66% |
| September 17 | $65.60/oz | +4.2% |
| September 18 | $66.78/oz | +2.39% |
| September 18 MCX | ₹2,41,183/kg | +1.25% |
| September 21 India | ₹2,55,000/kg | Flat |
The performance of MCX silver contracts is influenced by international prices, the rupee, global precious-metal markets and expectations surrounding US monetary policy.
Silver Rates in Major Cities
Unlike gold, silver is generally not classified in retail markets using 24K, 22K and 18K categories. Silver is usually identified by its fineness, with 999 silver serving as a key benchmark.
| City | 10 grams | 100 grams | 1 kg |
|---|---|---|---|
| Chennai | ₹2,600 | ₹26,000 | ₹2,60,000 |
| Mumbai | ₹2,550 | ₹25,500 | ₹2,55,000 |
| Delhi | ₹2,550 | ₹25,500 | ₹2,55,000 |
| Kolkata | ₹2,550 | ₹25,500 | ₹2,55,000 |
| Bangalore | ₹2,550 | ₹25,500 | ₹2,55,000 |
| Hyderabad | ₹2,600 | ₹26,000 | ₹2,60,000 |
| Kerala | ₹2,600 | ₹26,000 | ₹2,60,000 |
| Pune | ₹2,550 | ₹25,500 | ₹2,55,000 |
| Vadodara | ₹2,550 | ₹25,500 | ₹2,55,000 |
| Ahmedabad | ₹2,550 | ₹25,500 | ₹2,55,000 |
Small variations between cities can result from transportation costs, dealer margins, local demand, taxation and other market conditions.
Silver Rate Trend: Last 10 Days
Silver remained at ₹2.45 lakh per kg for much of the middle of the month before moving higher.
| Date | Silver Rate per kg |
|---|---|
| September 20 | ₹2,55,000 |
| September 19 | ₹2,55,000 |
| September 18 | ₹2,50,000 |
| September 17 | ₹2,45,000 |
| September 16 | ₹2,45,000 |
| September 15 | ₹2,45,000 |
| September 14 | ₹2,45,000 |
| September 13 | ₹2,45,000 |
| September 12 | ₹2,45,000 |
| September 11 | ₹2,45,000 |
From September 11 to September 20, silver gained ₹10,000 per kg, or approximately 4.08%.
What Could Influence Silver Prices Ahead?
Silver may remain sensitive to changes in US interest rates, bond yields and the value of the dollar. Lower interest rates and a weaker dollar can support precious metals, while higher rates and rising yields can create pressure.
Industrial consumption is another major factor for silver because the metal is used extensively in electronics, manufacturing and emerging technologies. The Silver Institute is projecting a sixth consecutive year of global silver-market deficit in 2026. At the same time, industrial silver use is expected to decline by around 3% during the year.
The international market also remains affected by geopolitical developments, investor flows and crude oil movements.
Things Buyers Should Check Before Buying Silver
Consumers purchasing physical silver should verify the purity and weight of the metal, particularly when buying coins or bars for investment purposes. A proper invoice should clearly show the metal value, GST and other applicable charges.
Comparing prices from established jewellers and bullion dealers can help buyers understand the complete cost. Silver jewellery can also carry significant manufacturing charges that are separate from the underlying silver price.
Physical silver also involves considerations related to storage and eventual resale.
Rather than focusing only on the ₹255-per-gram headline rate, buyers should consider the complete landed cost. Those looking to build exposure over time may consider their purchase timing carefully because silver prices can move significantly over short periods.
Silver has already moved from ₹2.45 lakh to ₹2.55 lakh per kg during September. Waiting for a possible correction could result in a lower purchase price, but there is no certainty that prices will decline. The longer-term investment case for silver also remains linked to expectations for industrial demand.
Gold Rates Today, September 21, 2026
Gold prices were also reported at elevated levels on September 21. The rates were ₹15,584 per gram for 24K gold, ₹14,285 for 22K gold and ₹11,688 for 18K gold.
For 10 grams, 24K gold was priced at ₹1,55,840, 22K gold at ₹1,42,850 and 18K gold at ₹1,16,880. Delhi’s 24K gold rate was ₹15,599 per gram.
International gold recovered to $4,390.11 an ounce on September 18, while US gold futures settled at $4,424.90.
Frequently Asked Questions
What is the silver rate today in India?
The latest domestic reference rate is ₹255 per gram, equivalent to ₹2.55 lakh per kg.
What is the silver rate in Delhi today?
Silver is quoted at ₹2,55,000 per kg in Delhi, or ₹255 per gram.
Why do silver prices differ between cities?
Differences can occur because of local dealer margins, transportation expenses, demand, taxation and other market factors.
Does silver have 24K, 22K and 18K purity categories?
No. These categories are primarily associated with gold. Silver is generally described by its fineness, such as 999 silver.
What factors influence silver prices?
International silver prices, the US dollar, interest rates, industrial demand, investor flows and currency movements all affect the Indian silver market. Technology and other industrial applications remain important sources of demand, although photovoltaic-related consumption faces pressure from thrifting and substitution.
Disclaimer
Silver and gold prices can change frequently and may vary between cities, dealers and purchase channels. The rates mentioned here are indicative and may exclude GST, dealer margins, making charges and other applicable costs. Market expectations and future price movements are not guaranteed. Buyers should verify the latest rate, purity, applicable charges and final payable amount with a trusted jeweller, bullion dealer or relevant market source before making a transaction.