Silver rate today on Oct 17: Dhanteras, Diwali rush fuel glittering rally, silver crosses Rs 2 lakh/kg mark in Hyderabad - See silver prices city list

Silver Price News on October 17

Silver rate today on Oct 17: Silver continues to smash all previous records with spot prices crossing Rs 2 lakh/kg in several cities across India on Friday. The rally just a day before Dhanteras means that there is going to be a little respite for buyers. Usually, silver was considered as distant second option for those who could not afford gold. But this year, the white metal has followed gold. With industrial demand triggering shortage of physical silver in the market, some analysts are forecasting Rs 2.5 lakh/kg mark for the white metal in 2026. The data by Goodreturns shows that there has been a minuscule revision in silver prices in comparison with yesterday. Here are silver rates for October 17, 2025:

Silver has outpaced gold this year, surging nearly 87% in 2025, driven by many of the same macroeconomic factors boosting gold. The market has also experienced a historic squeeze in London, where low liquidity has triggered a global scramble for the metal, pushing benchmark prices above New York futures.

In the past week, over 15 million ounces of silver were withdrawn from warehouses linked to the Comex futures exchange in New York, much of it likely heading to London to relieve tightness. The price gap between the two hubs remains unusually wide at $1.10 an ounce, though it has narrowed from last week's spread of up to $3. Silver slipped 0.5% on Friday at 11:02 a.m. in Singapore but still recorded a weekly gain of over 7%.