New Delhi, January 16: Silver rates (Silver prices) in India reached an unprecedented peak today, January 16, as the industrial metal continues its record-breaking rally in the new year. Following a period of intense volatility, spot silver is currently trading at approximately INR 2,95,100 per kilogram, a significant jump from the INR 2.38 lakh levels seen at the beginning of the month. In key southern markets like Chennai and Hyderabad, prices have already breached the psychological barrier of INR 3,10,000 per kg, reflecting a widening premium due to high regional demand and supply constraints. Wondering what the prices of the white metal are today? Scroll below to check silver prices in major Indian cities like Delhi, Mumbai, Chennai, Hyderabad, Bengaluru, Ahmedabad, Kolkata, Pune, Kerala, and Vadodara.

City-Wise Price Breakdown of Silver Rates in India

The cost of silver varies across the country based on local taxes and demand-supply dynamics. As of today, January 16, the price of silver in the country is INR 295.10 per gram and INR 2,95,100 per kilogram. Gold Rate Today, January 16, 2026: Check 22K & 24K Gold Prices in Delhi, Mumbai, Chennai and Other Cities.

Below are the prevailing rates for 1 kg of silver in major Indian cities:

Silver Rates Today: January 16, 2026 (Per Kilogram)

City Silver Price Today
Delhi INR 2,95,100
Mumbai INR 2,95,100
Chennai INR 3,10,100
Hyderabad INR 3,10,100
Bengaluru INR 2,95,100
Ahmedabad INR 2,95,100
Kolkata INR 2,95,100
Pune INR 2,95,100
Kerala INR 3,10,100
Vadodara INR 2,95,100

Factors Fueling the Surge of Silver

The sharp ascent in silver prices this week - gaining nearly INR 20,000 per kg in just four days - is being driven by a combination of macroeconomic and industrial factors:

Industrial 'Green' Demand: Silver's critical role in solar panels and electric vehicle (EV) batteries has led to a structural supply deficit. Global demand has exceeded mine supply for five consecutive years, pushing prices higher as green energy transitions accelerate.

Safe-Haven Buying: Continued geopolitical uncertainty and concerns over global growth in 2026 have pushed investors toward bullion as a hedge against market instability.

Gold-Silver Ratio: Analysts note that the gold-silver ratio has tightened, indicating that silver is currently outperforming gold in terms of percentage gains as it plays catch-up to the yellow metal's earlier rally.

Market Outlook and Expert Predictions

Despite the "vertical move" in prices, some market analysts warn that the rally may be entering an "overheated" phase. Technical indicators suggest the market is currently stretched, leading to potential profit-booking in the short term. However, major brokerage firms remain bullish for the remainder of the year; some experts have set price targets as high as INR 3.20 lakh to INR 3.50 lakh per kg for 2026, citing limited new mining projects coming online. Silver Rate Today, January 15, 2026: Check Latest Prices of White Metal in Delhi, Mumbai, Chennai, and Other Major Cities.

Silver Witnesses 24 Per Cent Gain in Two Weeks

The performance of silver in early 2026 has been nothing short of extraordinary. After ending 2025 at approximately INR 2.06 lakh per kg, the metal has delivered a staggering 24 per cent return in just the first 16 days of January. This follows a 160 per cent jump in 2025, solidifying silver’s position as one of the top-performing asset classes for the second consecutive year.

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(The above story first appeared on LatestLY on Jan 16, 2026 07:58 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).