Silver Price Today, October 16, 2026: Rate Remains Steady at Rs. 2,300 per 10 gm, Senco Gold Surges 3.60% in Morning Trade

New Delhi, Oct 16: Silver did not move on Friday. Goodreturns.in has 10 grams of the metal at Rs. 2,300 in most cities, which makes it Rs. 23,000 for 100 grams and Rs. 2,30,000 for a kilogram. Chennai, Hyderabad and Kerala are still the dearer markets at Rs. 2,400 per 10 grams, Rs. 24,000 for 100 grams and Rs. 2,40,000 per kg. 

All 10 cities tracked match Thursday’s rates exactly, after a fall of Rs. 50 per 10 grams that day. The national rate is also unchanged at Rs. 230 per gram, so a kilogram still costs Rs. 2,30,000. Silver is priced off international rates, which can swing either way. 

The week still ended lower. Rs. 2,300 is Rs. 100 below Monday’s Rs. 2,400 and Rs. 50 below last Friday’s Rs. 2,350 in Mumbai and Pune. In Delhi, Kolkata, Bangalore, Vadodara and Ahmedabad, where last Friday’s rate was Rs. 2,349, the drop is Rs. 49. That is a fall of about 2.1 per cent over the week, leaving silver at its lowest in two weeks. 

The rupee may be helping. The USD/INR futures contract for Oct 28 was at Rs. 95.0100 around 10:22 am, against Rs. 96.9300 a week ago, a gain of Rs. 1.92 or about 2 per cent for the rupee. A stronger rupee makes imported silver cheaper in local terms. Domestic equities were firm too, with the Nifty 50 at 23,123.45 around 10:23 am, up 126.10 points or 0.55 per cent. 

City-Wise Prices 

Silver prices in 10 cities across India on Thursday, October 15, and Friday, October 16, per 10 grams, along with the difference. 

City	Thu, Oct 15	Fri, Oct 16	Diff
Chennai	₹2,400	₹2,400	₹0
Mumbai	₹2,300	₹2,300	₹0
Delhi	₹2,300	₹2,300	₹0
Kolkata	₹2,300	₹2,300	₹0
Bangalore	₹2,300	₹2,300	₹0
Hyderabad	₹2,400	₹2,400	₹0
Kerala	₹2,400	₹2,400	₹0
Pune	₹2,300	₹2,300	₹0
Vadodara	₹2,300	₹2,300	₹0
Ahmedabad	₹2,300	₹2,300	₹0

Source: Goodreturns.in 

The change shows up over the week. The table below sets Friday’s rates against last Friday’s, October 9, again per 10 grams. 

City	Fri, Oct 9	Fri, Oct 16	Diff
Chennai	₹2,450	₹2,400	-₹50
Mumbai	₹2,350	₹2,300	-₹50
Delhi	₹2,349	₹2,300	-₹49
Kolkata	₹2,349	₹2,300	-₹49
Bangalore	₹2,349	₹2,300	-₹49
Hyderabad	₹2,450	₹2,400	-₹50
Kerala	₹2,450	₹2,400	-₹50
Pune	₹2,350	₹2,300	-₹50
Vadodara	₹2,349	₹2,300	-₹49
Ahmedabad	₹2,349	₹2,300	-₹49

Source: Goodreturns.in 

Every city is lower on the week. Mumbai, Pune, Chennai, Hyderabad and Kerala are down Rs. 50 per 10 grams, while Delhi, Kolkata, Bangalore, Vadodara and Ahmedabad are down Rs. 49. The gap exists only because those five cities started the week a rupee below the rest. Per kilogram, the drop is Rs. 5,000 in the first group and Rs. 4,900 in the second. 

Buyers in Chennai, Hyderabad and Kerala pay Rs. 100 more per 10 grams than buyers elsewhere, the same gap as on Thursday. That is Rs. 10,000 on a kilogram, or about 4.3 per cent over the Rs. 2,300 rate. For 500 grams, the bill is Rs. 1,15,000 in most cities against Rs. 1,20,000 in the south. 

These are rates for the metal alone. Silver jewellery costs more once making charges and 3% GST are added. On a 10 gram purchase at Rs. 2,300, the GST alone comes to Rs. 69, and on a kilogram at Rs. 2,30,000 it is Rs. 6,900. 

With Dussehra, Dhanteras and Diwali still ahead, coins, idols and utensils tend to draw buyers. The question for the next few sessions is whether Rs. 2,300 holds as a floor, or whether silver slips further after shedding Rs. 100 from Monday’s level. 

Also Read: How to Invest in Silver: 6 Best Ways (2026)

Jewellery Stocks Today 

Jewellery stocks beat the market in early trade on Friday, a turnaround from Thursday. The Nifty 50 was at 23,123.45 around 10:23 am, up 0.55 per cent, and all four counters we track were in the green and ahead of it. Senco Gold (SENCO) led with a 3.60 per cent gain, followed by PN Gadgil Jewellers (PNGJL) at 1.62 per cent, Vaibhav Global (VAIBHAVGBL) at 1.11 per cent and Silgo Retail (SILGO) at 1.05 per cent. 

Company	Ticker	Price	Change
Senco Gold	SENCO	₹332.00	+₹11.55 (+3.60%)
PN Gadgil Jewellers	PNGJL	₹600.45	+₹9.60 (+1.62%)
Silgo Retail	SILGO	₹70.00	+₹0.73 (+1.05%)
Vaibhav Global	VAIBHAVGBL	₹205.12	+₹2.25 (+1.11%)

Source: NSE market data 

Senco Gold was trading at ₹332.00, up ₹11.55 or 3.60 per cent from Thursday’s close of ₹320.45. That is also ₹5.10, or 1.56 per cent, above its Thursday morning level of ₹326.90. 

PN Gadgil Jewellers opened at ₹591.00 against a previous close of ₹590.85 and slipped to a low of ₹585.80 around 9:20 am. It then climbed steadily to a high of ₹602.00 and is now at ₹600.45, up 1.62 per cent and above its volume-weighted average price (VWAP) of ₹596.11. 

Vaibhav Global opened at ₹202.90, in line with its previous close of ₹202.87, and fell to ₹201.00 around 9:30 am. A rally followed, taking it to a high of ₹206.00 before it settled. It is trading at ₹205.12, up 1.11 per cent and above its VWAP of ₹204.61. 

Silgo Retail opened at ₹68.76, about 0.7 per cent below Thursday’s close of ₹69.27, and touched a low of ₹68.71. It recovered to a high of ₹70.60 and trades at ₹70.00, up 1.05 per cent and above its VWAP of ₹69.88. 

Against Thursday’s morning levels, three of the four counters are higher. Senco Gold is up ₹5.10 or 1.56 per cent from ₹326.90, PN Gadgil Jewellers by ₹3.40 or 0.57 per cent from ₹597.05 and Vaibhav Global by ₹1.58 or 0.78 per cent from ₹203.54. Silgo Retail is down ₹0.24 or 0.34 per cent from ₹70.24. 

Silver was flat on Friday, so these gains do not look like a read-through from the metal. They came with a rising Nifty and a firmer rupee. The data used for this report does not show what drove the individual moves. 

Order book data was split. PN Gadgil Jewellers had 66.27 per cent of total quantity on the sell side, with 84,849 shares against 43,189 on the buy side. Vaibhav Global was near even, at 50.99 per cent sell, with 59,214 shares against 56,920. Buyers led only on Silgo Retail, at 61.41 per cent, or 11,947 shares against 7,506. 

Investors looking to diversify beyond physical silver can also explore the list of Silver ETFs in India, which allow exposure to silver prices without the need to store physical metal: https://hdfcsky.com/etf/silver-etf 

Source

• Goodreturns.in
• NSE market data
• Rates are indicative and subject to change; confirm with your local dealer before purchase.