The silver rate today 17 February 2026 continues to slide hard. After hitting crazy highs in January, silver has entered a steep drop that feels almost like a freefall this month.
Retail buyers in most cities now see prices around ₹2.65 lakh to ₹2.68 lakh per kg — much lower than recent peaks.
MCX Silver Futures Update (February 17, 2026)
- Silver Futures (March 5, 2026): ₹2,34,467 per kg ↓ 2.00%
Futures show traders expect more downside pressure.
City-Wise Retail Silver Rate Today (999 Fine)
(Indicative spot prices – GST 3% & making charges extra for jewellery)
| City | Price per 10g | Price per 1 kg | Trend |
|---|---|---|---|
| Mumbai | ₹2,679 | ₹2,67,900 | ↓ Falling |
| Delhi | ₹2,679 | ₹2,67,900 | ↓ Falling |
| Chennai | ₹2,649 | ₹2,64,900 | ↓ Falling |
| Bangalore | ₹2,679 | ₹2,67,900 | ↓ Falling |
| Hyderabad | ₹2,649 | ₹2,64,900 | ↓ Falling |
| Kolkata | ₹2,679 | ₹2,67,900 | ↓ Falling |
| Pune | ₹2,679 | ₹2,67,900 | ↓ Falling |
Chennai and Hyderabad currently sit a bit lower.
Why Silver Is Dropping So Fast
This month alone silver has fallen over 23% from ₹3.50 lakh/kg on February 1. Compared to the all-time high of ₹4.10 lakh/kg on January 29, the drop reaches nearly 35%.
The main reasons? A stronger US Dollar makes silver less appealing. Plus, recent US inflation numbers came in higher than expected, which hurts demand for non-yielding assets like precious metals. Global spot silver now trades near $74.30 per ounce.
What It Means for Buyers
The silver rate today 17 February 2026 looks much more affordable than a few weeks ago. If you’ve been waiting on the sidelines, this correction might be creating a buying window. But the trend is still down, so watch global cues and dollar moves closely.
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
- The Sunday Guardian (MCX & Market Analysis)
- News24 (Live City Updates)
- Goodreturns (Historical & City-wise Comparison)
- Livemint (Expert Technical Outlook)
- Angel One (Futures & Intraday Levels)
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.
