Silver rate today on Oct 16: Silver prices breached the Rs 1.9 lakh/kg mark on Thursday amid blazing buying spree in both international as well as domestic markets. With 24K, 22K and 18K gold becoming out of reach for many, several buyers are likely to opt for silverware this Dhanteras. However, the blistering rally in the white metal may mean that there will be fewer options and one may have to look for lightweight jewelry or silver pieces, coins for the auspicious Dhanteras muhurat shopping.
| Gram | Today | Yesterday | Change |
| 1 | Rs 190.10 | Rs 190 | + Rs 0.10 |
| 8 | Rs 1,520.80 | Rs 1,520 | + Rs 0.80 |
| 10 | Rs 1,901 | Rs 1,900 | + Rs 1 |
| 100 | Rs 19,010 | Rs 19,000 | + Rs 10 |
| 1000 | Rs 1,90,100 | Rs 1,90,000 | + Rs 100 |
According to Bloomberg, platinum has surged about 80% this year, while silver is up roughly 75%, extending a broad rally across precious metals. The report notes that gold's demand is largely driven by jewelry and investment, whereas silver has a significant industrial component - particularly from the growing use of photovoltaic solar cells.
| City | 10 gram | 100 gram | 1 Kg |
| Chennai | Rs 2,071 | Rs 20,710 | Rs 2,07,100 |
| Mumbai | Rs 1,901 | Rs 19,010 | Rs 1,90,100 |
| Delhi | Rs 1,901 | Rs 19,010 | Rs 1,90,100 |
| Kolkata | Rs 1,901 | Rs 19,010 | Rs 1,90,100 |
| Bangalore | Rs 1,951 | Rs 19,510 | Rs 1,95,100 |
| Hyderabad | Rs 2,071 | Rs 20,710 | Rs 2,07,100 |
| Kerala | Rs 2,071 | Rs 20,710 | Rs 2,07,100 |
| Pune | Rs 1,901 | Rs 19,010 | Rs 1,90,100 |
| Vadodara | Rs 1,901 | Rs 19,010 | Rs 1,90,100 |
| Ahmedabad | Rs 1,901 | Rs 19,010 | Rs 1,90,100 |
| Jaipur | Rs 1,901 | Rs 19,010 | Rs 1,90,100 |
| Lucknow | Rs 1,901 | Rs 19,010 | Rs 1,90,100 |
| Coimbatore | Rs 2,071 | Rs 20,710 | Rs 2,07,100 |
| Madurai | Rs 2,071 | Rs 20,710 | Rs 2,07,100 |
| Vijayawada | Rs 2,071 | Rs 20,710 | Rs 2,07,100 |
| Patna | Rs 1,901 | Rs 19,010 | Rs 1,90,100 |
| Nagpur | Rs 1,901 | Rs 19,010 | Rs 1,90,100 |
| Chandigarh | Rs 1,901 | Rs 19,010 | Rs 1,90,100 |
| Surat | Rs 1,901 | Rs 19,010 | Rs 1,90,100 |
| Bhubaneswar | Rs 2,071 | Rs 20,710 | Rs 2,07,100 |
This rising industrial demand has pushed the silver market into a deficit over the past few years. However, Bloomberg adds that ample silver reserves remain stored in vaults globally, meaning an immediate shortage is unlikely despite the persistent supply gap.
Silver (1 kg) for December 2025 delivery on MCX was trading around Rs 1,63,499, up Rs 2,164 or 1.33% from the previous close.
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