Silver Rate Today, July 16, 2026: Silver Price Down Marginally; Chennai, Hyderabad Premium Continues

New Delhi/Mumbai, July 16: Silver prices remained confined to a tight trading band in the national market on Thursday. Metal was quoted at Rs 2,349 for 10 grams, or Rs 234.90 per gram, or Rs 2,34,900 per kilogram, according to goodreturns.in. Thursday’s rate at Rs 2,349 is down Re 1 per 10 grams from Wednesday’s national benchmark of Rs 2,350 when the yellow metal was quoted at Rs 235 per gram and Rs 2,35,000 per kilogram. 

The flat price action underscores that silver has found a well-defined trading range to move in this week even as sentiment remains sensitive to global cues like the ongoing Iran- US conflict and Strait of Hormuz closure impacting all asset classes. 

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On Thursday, most metros traded silver either up or down by a rupee, largely repeating Wednesday’s trend across centres. Premium in Chennai, Hyderabad and Kerala continues with prices for 10 gram silver quoted at Rs 2,401 on Thursday, up Re 1 from Rs 2,400 reported for Wednesday. Mumbai, Delhi, Kolkata, Bangalore, Pune, Vadodara and Ahmedabad all reported lower rates for silver at Rs 2,349 per 10 grams on Thursday down Re 1 from Rs 2,350 seen the previous trading day. 

The Rs 52-odd premium in Chennai, Hyderabad and Kerala over the rest of India widened earlier in the week but has persisted through Thursday indicating local demand-led pricing dynamics has not eased in these metros. 

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

Gold Rates Today 

Gold prices in India climbed higher on Thursday, with rates for 24 karat gold rising Rs 790 to Rs 1,43,580 per 10 grams from Wednesday’s Rs 1,42,790. The price of 22 karat gold was up Rs 720 at Rs 1,31,610 per 10 grams from Rs 1,30,890. For 18 karat gold prices climbed Rs 590 to Rs 1,07,680 per 10 grams from Rs 1,07,090 reported on Wednesday. The broad-based strength reverses losses from the previous day and comes amid bouts of safe haven demand return, as concerns of further escalation in West Asia in the wake of the Strait of Hormuz closure continue to weigh on investor sentiment. 

What’s Driving Prices 

Iran-US conflict and subsequent developments remain the biggest factor influencing bullion prices this week, with crude oil prices and rupee-US dollar rate playing a key role in influencing both gold and silver prices. Bullion typically trades in tandem with crude oil during escalations in West Asia as both are denominated in dollars and a weak rupee offsets the benefit of any local price declines. 

Safe-haven buying typically comes into play during times of military escalation which tends to cap profits during periods of de-escalation or talks of the same. Silver prices are also influenced by demand from electronics and solar photovoltaic industries since the metal finds wide usage across industrial sectors, unlike gold. Seasonal factors linked to wedding buying are also at play as traders closely watch these developments to gauge demand. Import duty and local taxes levied by various state governments are also factored into the final retail price charged to customers across India. 

Analysts expect volatility to continue dominating price movement for silver going forward tracking both global cues and domestic demand. Any sudden escalation in West Asia has the potential to reverse this week’s rangebound price action and spur fresh inflows into gold and silver, said traders. Conversely, both metals could come under pressure if Iran-US tensions ease or there are positive signs emanating out of US-China trade talks. 

However, buyers are suggested to look at live rates before buying as prices vary during the day and across jewellers depending on making charges and local taxes. 

National prices for silver have been almost unchanged since Monday when metal opened the week at Rs 2,350 per 10 grams. Prices remained at the same level through Tuesday before Wednesday’s spike to Rs 2,351 in premium cities which have since retreated back to their historical Rs 50 premium. 

The Rs 2,349 quote on Thursday takes prices marginally down on a week-on-week basis but shows how range bound prices have moved through the first half of the week, even as gold prices and crude oil have seen more whipsaw price action. 

10 Gram Silver Rates: Thursday, July 16 vs Wednesday, July 15, 2026 

Source

• goodreturns.in. National and city-wise rates as of Thursday, July 16, 2026. Monday’s rate sourced from prior-session reporting. All rates are indicative and subject to local taxes, making charges and GST at 3 per cent. Readers are advised to check with local jewellers for live quotes before buying or selling bullion.