Silver Rate Today Delhi vs Hyderabad: Why It Differs

The silver rate today Delhi and Hyderabad buyers see depends on who is quoting it. On 7-8 October 2026 published Delhi quotes ran from about Rs 2,35,000 (Goodreturns, 8 Oct) to Rs 2,51,900 per kg (Business Today, 7 Oct), and Hyderabad from about Rs 2,45,000 to Rs 2,60,900 per kg, while this site's spot-based national rate was Rs 2,03,095 per kg (7 Oct, 11 pm IST). The metal costs the same everywhere; the gap is the quote basis, 3% GST and local margins.

Every figure in this guide is a dated snapshot. For the live national number, use the silver rate today page, which is updated from international spot in US dollars, adjusted for import duty and GST. What follows explains why that number, a Delhi quote and a Hyderabad quote can all be "right" on the same day.

Silver rate today Delhi vs Hyderabad: the short answer

Three things are true at once. Two widely read rate publishers, Business Today and Goodreturns, disagreed by roughly Rs 17,000 per kg for Delhi and Rs 16,000 per kg for Hyderabad on consecutive days. Both publishers placed Hyderabad above Delhi, by Rs 9,000 and Rs 10,000 per kg respectively. And both sets of city quotes sat well above the spot-derived national rate shown on The Gold Rate Today, by roughly Rs 32,000 to Rs 58,000 per kg.

None of those numbers is wrong. A city quote is a retail reference price that carries a local trade margin (and usually GST); a spot-derived rate is the metal's value before a shop adds anything. Once you know which kind of number you are looking at, the spread reads as a bill breakdown, not an error.

Delhi and Hyderabad silver quotes side by side (7-8 October 2026)

The table puts the three sources used for this guide on one page, with the date each figure was published and the basis each source uses. All figures are per kilogram of silver.

Sources: Business Today's Delhi silver page (fetched 8 Oct 2026, dated 7 Oct); Goodreturns' Delhi and Hyderabad silver pages (fetched 8 Oct 2026); The Gold Rate Today silver page (fetched 8 Oct 2026). Goodreturns' Hyderabad page also showed a rise of 2.08% from 1 October. Read the spread two ways: between publishers for the same city (Rs 15,900-16,900 per kg) and between any city quote and the national spot-derived figure (Rs 31,905-57,805 per kg).

Why two websites show different Delhi rates on the same day

Spot-derived vs retail-association quotes

A spot-derived rate starts from the international silver price in US dollars, converts it at the USD-INR exchange rate, adds import duty and 3% GST, and stops there. That is how The Gold Rate Today builds its national figure, which is why it carries no city label. A retail city quote is generally understood to reflect what the local trade is charging per kilogram that day, which would bake in the margin dealers and jewellers in that city apply on top of the landed metal. Two retail publishers can then differ again because they poll different dealers, at different times, and round differently.

The time stamp matters as much as the basis. This site's figure is stamped 11 pm IST on 7 October; a publisher's "today" figure may have been set that morning. Silver can move by more in a trading day than the gap between two city quotes, so a rate without a time attached is only half a rate.

MCX silver futures are a third reference some traders watch, but a futures price is for a contract on a future date and is not the figure a shop quotes across the counter, so it is best left out of a buying comparison.

Rounding and update times

Goodreturns publishes Delhi at Rs 235 per gram and multiplies to Rs 2,35,000 per kg, a figure rounded to the rupee per gram. Business Today publishes Rs 25,190 per 100 g and Rs 2,51,900 per kg, a finer step. One source updates in the morning, another through the day, and this site stamps its figure with the time (11 pm IST on 7 October). Comparing a morning quote with an evening quote on a day when silver moved can add or remove a few thousand rupees per kg on its own, which is why every figure here carries its date.

What builds a city silver rate

Whatever the source, a city silver rate is a stack of components, not one price. The table lists them, where they apply, and what they do to the per-kg figure. Only the pieces with a sourced number carry one; the rest are shown as direction of effect, because the exact local margin in Delhi or Hyderabad is not published by any source opened for this guide.

A published example shows how the last two lines turn a rate into a bill. HDFC Sky's Delhi silver post for 13 August 2026 quoted Rs 255 per gram (Rs 2,55,000 per kg) and worked a 10 g purchase as Rs 2,550 of metal, plus 12% making, plus 3% GST, for Rs 2,942. That day's rate is history, but the arithmetic is what every counter uses: metal value, then making, then GST on the total.

Metro comparison: Delhi, Mumbai, Chennai, Kolkata

Business Today's same-day table for 7 October 2026 is the cleanest single-source view of how the metros line up, because the figures come from one publisher on one date. Per kilogram: Chennai Rs 2,52,900; Delhi Rs 2,51,900; Mumbai Rs 2,50,900; Kolkata Rs 2,46,900; Hyderabad, from the same page's extended city list, Rs 2,60,900. You can check the current table on the Business Today silver rate in Delhi page.

Two observations from that one source. The four largest metros sat within Rs 6,000 per kg of each other, with Chennai highest and Kolkata lowest. Hyderabad was Rs 9,000 above Delhi and Rs 8,000 above Chennai, so on that publisher's numbers it was the priciest of the five cities on that day. The ordering can change the next day as each local trade moves; it is a snapshot, not a ranking.

How to use these numbers when buying silver in Delhi or Hyderabad

Treat the national rate as your floor and any city quote as the ceiling of a reasonable price. Then ask the shop for three things in writing: the per-gram rate it is charging today, the making charge (as a percentage or per gram), and whether the quoted rate already includes GST. A quote that is far above the published city references for the day deserves a question; a quote close to the spot-derived rate plus 3% GST on a coin or bar is a good one.

A worked comparison on a 50 g purchase

Take the two Delhi figures from the table and price 50 g of silver, the weight of a small coin set or a pair of anklets. At Goodreturns' Rs 235 per gram (8 Oct 2026) the metal is Rs 11,750; at Business Today's Rs 2,51,900 per kg, which is Rs 251.90 per gram (7 Oct 2026), it is Rs 12,595. The gap is Rs 845 on the metal alone before making and GST, from two published references for the same city a day apart. Do the same with this site's Rs 203 per gram national figure (7 Oct, 11 pm IST) and the metal is Rs 10,150, which is the number to hold in mind as the floor when a shop quotes you.

The same arithmetic for Hyderabad gives Rs 12,250 at Goodreturns' Rs 245 per gram and Rs 13,045 at Business Today's Rs 260.90 per gram, a Rs 795 gap. In both cities the publisher you happen to read changes the metal value of a 50 g purchase by more than the difference between the two cities does.

For jewellery, the per-gram versus per-kg presentation changes how a price looks without changing it; our guide to silver rate per gram vs per kg walks through the conversion. For why the base number itself swings from week to week, see why the silver rate is volatile. And before you compare any city quotes, confirm the live national figure on the silver rate today page, because the dated snapshot above will not match a quote taken next week.

A last point on Delhi versus Hyderabad specifically. Both publishers used here showed Hyderabad higher than Delhi on 7-8 October 2026, but the difference between the two publishers' Delhi figures (about Rs 17,000 per kg) was bigger than the difference between the two cities on either publisher (Rs 9,000-10,000 per kg). The source you read matters more than the city you are in, so read the basis before the number.

Written and reviewed by the The Gold Rate Today editorial team. Facts checked against primary sources; see the reference above.

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