What is the story about?
Silver Price Today, April 16: On Thursday (April 16), silver prices moved in line with gold, gaining support from a softer US dollar that made precious
metals more affordable for international buyers.
Spot silver and domestic market movement
By 9:30 am, silver futures for the May contract on the MCX rose over 1 per cent, or Rs 2,746, to trade at Rs 2,54,488. Meanwhile, spot silver was up 1.8 per cent (USD 1.42) at USD 80.37, after touching an intraday high of USD 80.6095 earlier in the session.Dollar weakness continues to support metals
The US dollar index, which tracks the currency against six major peers including the Euro, Yen, Pound, Canadian Dollar, Swedish Krona, and Swiss Franc, declined by 0.1 per cent and hovered near the USD 98 mark.Over the past week, the dollar has fallen around 2 per cent, and about 2.3 per cent over the past month, after previously reaching levels close to 100. This sustained weakness has generally supported gold, as it becomes cheaper for buyers using other currencies.
Geopolitical developments in focus
On the geopolitical front, reports from Reuters suggest that Iran could consider allowing vessels to pass freely through the Omani side of the Strait of Hormuz without the threat of attack as part of ongoing discussions with the United States.Although tensions show some signs of easing, investors remain cautious and continue to track developments in US–Iran relations closely.
Oil price decline and impact on gold outlook
Oil prices have also fallen sharply over the past month, now trading near the USD 90 level. Lower energy prices may increase expectations of interest rate cuts, which typically provide additional support to gold prices.Today Silver Rate in India (City-wise: 10g, 100g, 1kg)
| City | 10 Gram Silver Rate | 100 Gram Silver Rate | 1 Kg Silver Rate |
| Silver Prices in Delhi | 2,700 | 27,000 | 2,70,000 |
| Silver Prices in Mumbai | 2,700 | 27,000 | 2,70,000 |
| Silver Prices in Kolkata | 2,700 | 27,000 | 2,70,000 |
| Silver Prices in Chennai | 2,750 | 27,500 | 2,75,000 |
| Silver Prices in Patna | 2,700 | 27,000 | 2,70,000 |
| Silver Prices in Lucknow | 2,700 | 27,000 | 2,70,000 |
| Silver Prices in Gurugram | 2,700 | 27,000 | 2,70,000 |
| Silver Prices in Noida | 2,700 | 27,000 | 2,70,000 |
| Silver Prices in Chandigarh | 2,700 | 27,000 | 2,70,000 |
Also Read: Gold Rate Today, April 16: Prices bounce back as dollar slips; Is it time to ‘Buy the Dip’?
Silver Rate Today by IBJA
The India Bullion and Jewellers Association (IBJA) sets the daily “base price” of silver in India, which serves as the national benchmark for bullion rates. In simple terms, IBJA rates act as the reference price across the country.
| Purity | Morning Silver Price | Evening Silver Price |
| Silver 999* | Rs 2,36,981 per kg | - |
Also Read: Stocks to watch today, April 16: ICICI Lombard, LIC, Delhivery, HDB Financial, Infosys and others
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
