The IBJA silver rate is Rs 1,81,344 per kg (PM rate of 30 Oct 2026). On 23 October 2026 the PM benchmark for 999 fine silver (ag999) was Rs 1,94,415 per kg, the lowest of the 98 PM sessions TrackLivePrice has stored since 4 June 2026, and 2.68 percent below the 22 October PM rate.
What our IBJA records show
The silver PM rate has moved lower in each of the last four stored sessions. Between the 19 October PM session and the 23 October PM session, the rate fell from Rs 2,08,750 to Rs 1,94,415 per kg, a change of minus 6.87 percent over three sessions. Our records start on 4 June 2026, when the PM rate was Rs 2,61,088 per kg, the highest PM value in our stored records.
Last 10 IBJA silver sessions in our records, AM and PM, Rs per kg, ex GST and making. As of PM rate of 30 Oct 2026. Source: TrackLivePrice stored IBJA records.
| Date | Silver 999, Rs per kg | Change |
|---|---|---|
| 30 Oct 2026 | Rs 1,81,344 | -4.80% |
| 29 Oct 2026 | Rs 1,90,478 | -1.53% |
| 28 Oct 2026 | Rs 1,93,442 | +0.49% |
| 27 Oct 2026 | Rs 1,92,499 | -1.02% |
| 26 Oct 2026 | Rs 1,94,479 | +0.03% |
| 23 Oct 2026 | Rs 1,94,415 | -2.68% |
| 22 Oct 2026 | Rs 1,99,777 | -3.39% |
| 21 Oct 2026 | Rs 2,06,783 | -0.94% |
| 19 Oct 2026 | Rs 2,08,750 | -1.03% |
| 16 Oct 2026 | Rs 2,10,918 | +1.27% |
Newest first | Source: IBJA, stored by us since 4 Jun 2026.
Latest Rs 1,81,344 (30 Oct 2026)High Rs 2,46,630 (21 Aug 2026)Low Rs 1,81,344 (30 Oct 2026)
Try it: Gold Price Calculator lets you enter weight, making charge percent or rupees per gram, and GST to see the total payable at the latest IBJA gold rate. For silver by weight, use the silver calculator.
How we calculated this
The figures come from the IBJA AM and PM benchmarks for ag999, quoted in rupees per kg and excluding GST and making charges. TrackLivePrice stored IBJA records cover 98 PM sessions from 4 June 2026 to 23 October 2026. Change is the PM close divided by the previous PM close, minus 1. The IBJA publishes no rate on weekends or on commodity exchange holidays, so a missing session is not a fall in the price.
Worked example: the change from 19 to 23 October
The table below repeats the arithmetic with the two stored PM values, so the percentage can be checked by hand.
Worked example using stored IBJA PM values. Source: TrackLivePrice stored IBJA records, IBJA benchmark.
| Step | Working | Value |
|---|---|---|
| PM rate, 19 Oct 2026 | IBJA ag999 PM, Rs per kg | Rs 2,08,750 |
| PM rate, 23 Oct 2026 | IBJA ag999 PM, Rs per kg | Rs 1,94,415 |
| Difference | 194415 - 208750 | Rs -14,335 |
| Change | 194415 / 208750 - 1 | -6.87% |
Example figures, not today's rates.
Gold moved less over the same days
The IBJA 24K gold benchmark for the PM session of 23 October 2026 was Rs 1,41,630 per 10 g, down 0.75 percent from Rs 1,42,694 on 22 October. Our stored 24K PM high is Rs 1,62,154 per 10 g on 24 August 2026, and the 23 October PM value is 12.66 percent below it. The live 24K rate is Rs 1,40,054 per 10 g (PM rate of 30 Oct 2026), and the gold rate today page shows the full day table.
Who this affects
The IBJA rate is one national benchmark, not a city rate. It is the starting point for silver bills in jewellery shops, but the shop price adds making charges and GST. GST on jewellery is 3 percent of the total transaction value, whether the making charge is shown separately or not (CBIC Sectoral FAQ on Gems and Jewellery). The silver grades under IS 2112:2014 are 800, 835, 900, 925, 970 and 990, so the fineness stamp on a piece tells you how much pure silver it holds.
Checklist before you quote a silver rate
- Note the session label, AM or PM, on the rate you are quoting.
- Confirm the unit, rupees per kg for silver, and divide by 1,000 for the per gram rate.
- Check the purity of the item, because a 925 piece is worth less per gram than 999 fine silver.
- Add making charges and 3 percent GST on the jewellery bill, using the silver calculator to see each line.
Common mistakes
- Treating a benchmark as the shop price. The shop price includes making charges, GST and the dealer margin.
- Comparing an AM rate with a PM rate from a different day.
- Reading a missing weekend or holiday session as a fall in the price.
