Silver has become ₹10,000 cheaper per kilogram in just two days. And for Delhi buyers, the bigger surprise is how far prices have fallen from their recent high.
The silver rate today in Delhi has dropped to ₹2,20,000 per kilogram, or ₹220 per gram, on Friday, October 23, 2026. That is ₹5,000 below Thursday’s rate, according to Goodreturns.
Only days earlier, silver had held at ₹2.30 lakh for nearly a week. It is now ₹20,000 below the ₹2.40 lakh October high – a correction of 8.33%. For shoppers considering coins, jewellery or bars, the lower rate is welcome. But is this the moment to buy, or could prices dip further?
Silver Rate Today in Delhi: Latest 1g, 10g, 100g and 1 Kg Prices
The Silver Price Today in Delhi is lower across every weight category than it was on October 22. Here is the latest Goodreturns retail quotation:
| Quantity | 23 Oct | 22 Oct | Daily change |
| 1 gram | ₹220 | ₹225 | −₹5 |
| 8 grams | ₹1,760 | ₹1,800 | −₹40 |
| 10 grams | ₹2,200 | ₹2,250 | −₹50 |
| 100 grams | ₹22,000 | ₹22,500 | −₹500 |
| 1 kilogram | ₹2,20,000 | ₹2,25,000 | −₹5,000 |
Source: Goodreturns, Delhi silver prices (23 October 2026). These are indicative retail rates; a jeweller’s final quote can include taxes, premiums and making charges.
For anyone checking silver rate today Delhi updates, the key point is that today’s fall is the second ₹5,000-per-kg cut in two days – not the entire ₹20,000 October correction.
From ₹2.40 Lakh to ₹2.20 Lakh: How Silver Reached an October Low
Delhi silver dipped from ₹2.40 lakh to ₹2.35 lakh per kg during October 10-12, and further to ₹2.30 lakh on October 15. The same price has been in effect since October 16 until October 21.
It was short, the number one sell was ₹2.25 lakh on October 22 and again ₹2.20 lakh on October 23. The silver rate in Delhi is now at its lowest Goodreturns quotation of the month so far.
| Date | Rate per kg | Change |
| 10–12 Oct | ₹2,40,000 | Recent high |
| 15–21 Oct | ₹2,30,000 | Steady from 16–21 Oct |
| 22 Oct | ₹2,25,000 | −₹5,000 |
| 23 Oct | ₹2,20,000 | −₹5,000 |
Compared with October 1 (₹2.35 lakh), the fall is ₹15,000, or 6.38%. Measured from the recent peak, the decline is ₹20,000, or 8.33%. Both calculations use the same Goodreturns historical series.
What Is Behind the Latest Silver Price Weakness?
Silver is being propelled by more than just jewellery demand. It is also employed in electronics, in solar equipment for other industrial applications and is sensitive to investment sentiment and manufacturing expectations.
The silver price in Delhi can be affected by the movements in the rupee against the dollar, the rate of interest expectations, the positioning of the investors at the international price of bullion. None of these alone proves why Delhi’s retail quotation fell ₹5,000 today.
The direction of another market measure supports the broader weakness. The India Bullion and Jewellers Association (IBJA) listed a silver-999 closing benchmark of ₹1,99,777 per kilogram on October 22, versus ₹2,10,918 on October 16. These benchmarks exclude GST and making charges and are not interchangeable with Goodreturns’ Delhi retail rate.
Why Do Websites Show Different Silver Prices?
Someone looking up today silver rate may find one number on Goodreturns and another on a futures platform or a bullion association’s website. They don’t have to be measuring the same quantity.
The timing, specifications and market premiums of the city-specific retail indication can all be different from a national bullion benchmark and an exchange-traded contract. Before calculating a rise or fall, compare figures that are like figures from the same source.
Buying Silver in Delhi? Calculate GST and Check Purity
The lower quoted rate does not automatically equal the total you pay. Under the CBIC GST goods schedule, silver covered by HSN 7106 attracts 3% GST.
At today’s indicative ₹2,200 for 10 grams, the calculation is:
| Illustrative cost | Amount |
| 10g silver base value | ₹2,200 |
| GST at 3% | ₹66 |
| Total before making charges | ₹2,266 |
This is assuming that the reference of ₹ 2200 is pre-tax and no making charges. If the item is a piece of jewellery or a decorative item, make sure to get a detailed invoice and make sure that no design fees or resale deductions are being taken.
Purity also matters. The Government of India’s BIS hallmarking guidance says silver hallmarking remains voluntary, but hallmarked silver articles must carry an HUID code under the revised system. Consumers can verify eligible HUID-marked silver in the BIS Care app.
Should You Buy Silver Now or Wait?
The silver rate today in Delhi is ₹200 less per 10 grams than at the recent ₹2.40 lakh-per-kg high. For a kilogram purchase, the indicative difference is ₹20,000 before tax and other costs. That is meaningful—but a falling price does not guarantee that the bottom has arrived.
The buyer who is about to buy a gift may want to compare the prices of physical shops now. These risks should also be taken into account: Volatility, liquidity, seller margins and potential for additional losses. The right decision depends on why the silver is being purchased, not just the headline decline.
What Could Move Delhi Silver Prices Next?
Monitor international silver prices, currency fluctuations, interest-rate outlook and demand for physical silver. Stronger buying interest in the market may provide prices with some downside pressure, while a rally in buyers interest may provide support.
The silver price today in Delhi confirms fresh weakness on October 23, but it does not establish what tomorrow’s price will be. Readers following silver rate today Delhi searches should focus on dated, source-attributed updates instead of forecasts presented as facts.
You May Like to read: Tips for Buying Gold Jewellery
The Bottom Line for Delhi Buyers
The silver rates in Delhi as per the Goodreturns series is at its lowest this October, at ₹2.20 lakh per kilogram. The ₹5,000 fall today with a correction of ₹20,000 from the recent high give the buyers a very attractive reference price.
Before paying, inquire today silver rate directly from your seller, get the purity confirmed and compare the final bill after including GST and other charges. Silver price in Delhi may fluctuate, but the real price you pay is what matters.
Frequently Asked Questions
- What is the silver rate today in Delhi on 23 October 2026?
Goodreturns quotes ₹220 per gram, ₹2,200 per 10 grams and ₹2,20,000 per kilogram in Delhi on October 23, 2026.
- How much did silver fall in Delhi today?
Silver fell ₹5 per gram, or ₹5,000 per kilogram, from October 22. That is approximately a 2.22% daily decline.
- How much has silver fallen from its October high?
Goodreturns records a recent high of ₹2,40,000 per kilogram. The October 23 rate is ₹20,000 lower, an 8.33% correction.
- What does 10 grams of silver cost after GST?
At an assumed pre-tax reference rate of ₹2,200, adding 3% GST gives ₹2,266. Making charges or seller premiums, if applicable, are extra.
- Is now a good time to buy silver in Delhi?
The rate is lower than earlier in October, but it may fluctuate further. Compare seller prices, purity and the total cost, and decide based on your purchase needs.
Source note: Retail quotations and historical comparisons are dated 23 October 2026 and attributed to Goodreturns. IBJA figures are separately dated benchmarks. Tax and HUID guidance comes from CBIC and the Government of India.
