MUMBAI — The silver rate today has not moved at all, and a buyer in Hyderabad is still paying ₹10,000 a kilogram more than a buyer in Delhi. Four days ago that gap was ₹5,000. Nothing about the metal explains why it doubled.
Nationally, silver is quoted at ₹260 a gram and ₹2,60,000 a kilogram, unchanged on the day. Delhi matches the national rate. Hyderabad, Chennai and Kerala are all at ₹2,70,000.
Silver Rate Today, August 22, 2026: City-Wise Silver Price
| City | 10 grams (₹) | 100 grams (₹) | 1 kilogram (₹) |
|---|---|---|---|
| Delhi | 2,600 | 26,000 | 2,60,000 |
| Mumbai | 2,600 | 26,000 | 2,60,000 |
| Kolkata | 2,600 | 26,000 | 2,60,000 |
| Bangalore | 2,600 | 26,000 | 2,60,000 |
| Pune | 2,600 | 26,000 | 2,60,000 |
| Ahmedabad | 2,600 | 26,000 | 2,60,000 |
| Hyderabad | 2,700 | 27,000 | 2,70,000 |
| Chennai | 2,700 | 27,000 | 2,70,000 |
| Kerala | 2,700 | 27,000 | 2,70,000 |
Rates exclude the three percent GST and any making charge, so the figure on a bill will be higher than the figure here.
Silver Rate Today Delhi and Hyderabad: A Gap That Has Doubled
The three southern markets have always carried a premium. On Tuesday it was ₹5,000 a kilogram, with the national rate at ₹2,49,900 and Chennai, Hyderabad and Kerala at ₹2,54,900. Today the national rate has risen to ₹2,60,000 and the southern rate to ₹2,70,000.
So the north has taken on ₹10,100 in four days, a rise of about four percent, while the south has taken on ₹15,100, closer to six. The premium did not merely survive the rally. It absorbed a third of it.
What that means for a buyer is simple and worth stating plainly. A kilogram bought in Hyderabad or Chennai today costs ₹10,000 more than the same kilogram in Delhi or Mumbai, and the extra ₹5,000 of that gap has appeared inside a single week.
What this article cannot tell you is why. Southern premiums are usually explained by local dealer margins, transport and the concentration of jewellery demand around Kerala and Tamil Nadu, and none of those things change in four days. A widening of this size during a fast rally is more consistent with southern quotes being reset less frequently and in larger steps than northern ones, but that is a reading of the pattern, not a sourced explanation.
Today Silver Price and What Moved It This Week
The international market did the work. Spot silver reached about $69.63 an ounce on Friday, up roughly 2.3 percent on the day, and silver futures settled around $69.81 after a gain of some 2.5 percent. Across the week the metal added more than five percent.
The driver is the same one lifting gold. The US Treasury said it would at least double its repurchases of long-dated government debt, which pushed Treasury yields and the dollar sharply lower and made an asset paying no interest considerably easier to hold.
Why the Indian Rate Sits Above the Exchange
Hold those two numbers together, because they do not match, and the mismatch is instructive. MCX silver is at ₹2,45,612 a kilogram. The published retail rate is ₹2,60,000. Retail is sitting about ₹14,400 above the exchange, a premium of nearly six percent.
That is not how the gold counter behaves. Our gold rate today coverage found the published 24 carat rate to be the MCX price divided by ten, exact to the rupee. Silver, on the same tracker and the same morning, carries a substantial spread over the futures price instead. Two metals, two methodologies, one page.
There is also the calendar. It is Saturday, so MCX is closed, and the ₹2,45,612 above is Friday’s number, not a live one. Retail silver quotes are set daily regardless, which is part of why the two can drift apart over a weekend and snap back on Monday.
Our oil prices today coverage runs alongside this one, with Brent frozen at Friday’s close for the same reason.
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