Silver 999 stood at ₹2,21,600 per kilogram in IBJA’s September 29, 2026 PM rate sheet, down ₹1,453 from the previous PM reading of ₹2,23,053. CapKet calculates the decline at 0.65% using the two comparable entries in the association’s dated publication.
Compared with the same day’s AM rate of ₹2,21,680, the decline was ₹80. These are different comparison windows; neither should be presented as an exchange futures settlement or a continuously measured 24-hour return.
A kilogram benchmark is not a shop quotation
The unit matters. The reported figure refers to one kilogram of 999-purity silver, not one gram and not a finished article of any purity. IBJA’s rate page excludes 3% GST and making charges.
Before comparing a seller’s quote, ask what weight and purity it covers and which charges are included. A small ornament and a bullion bar are not interchangeable quotations simply because both contain silver. Keep the item’s specification and the final invoice alongside the benchmark; the daily movement alone cannot tell you whether a particular seller has reduced the amount payable.
Hallmarking answers a different question
An official September 4, 2025 announcement describes the revised IS 2112:2025 silver hallmarking system. It includes a BIS mark with the word SILVER, a purity grade and a Hallmarking Unique Identification code, or HUID. The announcement added 958 and 999 to the scheme’s purity grades.
For silver jewellery or artefacts hallmarked under the new system after September 1, 2025, the announcement explains that BIS Care can display information such as the article type, fineness, hallmarking date, testing-centre details and jeweller registration. This is background guidance, not a regulatory change announced today.
That distinction is useful: a benchmark records a market observation, while a hallmark record helps identify the metal specification. Neither by itself verifies the other, and a hallmark is not a guarantee of resale value.
Limits of this report
CapKet did not verify city-by-city retail silver offers, buyback quotes or a specific reason for the decline. No industrial-demand narrative or forecast has been inferred from the price change. This publication preserves the dated observation rather than replacing it when a later rate appears.
Sources checked September 29, 2026: IBJA rate evidence at approximately 20:26 IST (14:56 UTC), and the official hallmarking announcement during the same research session. These are observation times, not the benchmark’s release time. More reporting is available in CapKet’s commodities section.