Mumbai, February 16: Silver rates (silver prices) in India continued their downward trajectory on Monday, February 16, 2026, touching a fresh low for the year as unrelenting selling pressure gripped the bullion market. In major metropolitan cities, the white metal is retailing at approximately INR 2,74,900 per kilogram, marking a symbolic breach of the previously firm support level of INR 2.75 lakh. This latest decline caps a volatile month that has seen silver prices crash by more than 21 per cent since peaking at INR 3.50 lakh on February 1.  Scroll below to check silver prices in major Indian cities like Delhi, Mumbai, Chennai, Hyderabad, Bengaluru, Ahmedabad, Kolkata, Pune, Kerala, and Vadodara.

City-Wise Silver Rates As of February 16, 2026

The price correction has been uniform across most wholesale and retail hubs in India. Unlike gold, which has shown some structural resilience this week, silver has struggled to find a stable floor. Gold Rate Today, February 16, 2026: Check 22K & 24K Gold Prices in Delhi, Mumbai, Chennai and Other Cities.

Silver Rates Today As of February 16, 2026 (Per Kilogram)

City Silver Price Today
Delhi INR 2,74,900
Mumbai INR 2,74,900
Chennai INR 2,79,900
Hyderabad INR 2,74,900
Bengaluru INR 2,74,900
Ahmedabad INR 2,74,900
Kolkata INR 2,74,900
Pune INR 2,74,900
Kerala INR 2,74,900
Vadodara INR 2,74,900

Note: These prices are indicative and exclude GST, TCS, and local making charges.

Factors Driving the Decline

Market analysts attribute the persistent weakness in silver to a combination of global and domestic factors. After a massive 47 per cent surge in January, aggressive profit-booking has dominated February's trading sessions.

US Dollar Strength: Stronger-than-expected US economic data has fueled expectations that the Federal Reserve will keep interest rates higher for longer, strengthening the US Dollar and making silver more expensive for international buyers.

Margin Requirements: Global exchanges recently increased margin requirements for silver futures, forcing some speculative traders to liquidate their positions.

Physical Demand: In traditional hubs like Chennai, the "premium" typically charged on silver has nearly vanished, signalling a temporary cooling in physical demand as buyers wait for a confirmed market bottom.

Historical Performance and Technical Outlook

The current price of INR 2,74,900 represents a significant retreat from the record high of INR 4,10,000 per kg touched briefly in late January. While the industrial narrative for silver remains strong - driven by its critical role in solar panel manufacturing and electric vehicles - the short-term technical outlook remains "neutral to bearish". Experts suggest the next psychological support level sits at INR 2.70 lakh, followed by a deeper floor at INR 2.50 lakh. Investors are currently looking toward the upcoming US Federal Reserve meeting in March for a clearer signal on the long-term direction of precious metals. Silver Rate Today, February 15, 2026: Check Latest Prices of White Metal in Delhi, Mumbai, Chennai, and Other Major Cities.

Investor Strategy

For retail buyers, the current correction is being viewed by some as an opportunity for "cost averaging" through digital silver or Silver ETFs. However, experts warn that given the metal's high volatility, a "buy on dips" strategy should be paired with a long-term horizon of at least 12 to 18 months.

 

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(The above story first appeared on LatestLY on Feb 16, 2026 08:59 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).