Thinking of buying silver today? Brace yourself — the silver rate today 16 February 2026 took a big tumble. After starting the month strong, prices have dropped hard, hitting the year’s lowest point right now.
Retail silver in most cities sits around ₹2,68,000 per kg, while some spot markets track even closer to MCX levels near ₹2,37,000 after the morning slide.
MCX Silver Update (March 2026 Contract)
Latest price: ₹2,40,599 per kg
Day’s low: ₹2,35,208
Previous close: ₹2,44,360
Change: Down over 3% today
City-Wise Silver Rate Today (per 1 kg)
(Indicative retail prices – GST & local charges extra)
| City | Silver Rate (per kg) |
|---|---|
| Mumbai | ₹2,68,000 |
| Delhi | ₹2,68,000 |
| Chennai | ₹2,80,000 |
| Bangalore | ₹2,68,000 |
| Hyderabad | ₹2,80,000 |
| Kolkata | ₹2,68,000 |
| Pune | ₹2,68,000 |
| Ahmedabad | ₹2,68,000 |
Chennai and Hyderabad hold slightly higher for now.
Why the Big Drop?
Silver has fallen 21–23% just in February — from a high of ₹3,50,000 on Feb 1. A stronger US dollar and traders cashing out profits pushed global spot silver down to $76–$77 per ounce. That pressure flowed straight to India.
The silver rate today 16 February 2026 marks a fresh 2026 bottom. If you’ve been waiting for lower levels, this could be your moment — but watch closely, as volatility stays high.
Disclaimer: The information in this article is for informational and educational purposes only. While we strive for accuracy, we make no guarantees regarding the completeness or reliability of this content. Use of this information is strictly at your own risk.
Sources & References
- Goodreturns: Silver Rate in India – Feb 16
- Livemint: MCX Silver & Gold Live Updates
- The Economic Times: Commodity Summary – Silver
Yogesh Kolhe is a business and market news writer covering the share market, company earnings, and gold and silver price movements, with a strong focus on the automobile sector. A Mechanical Engineering graduate with 5 years of share market experience, he provides data-driven, reliable insights into market and industry trends.
