Silver prices in Mumbai declined on Friday, January 16, snapping part of the sharp gains seen earlier this week. After hitting fresh all-time highs in recent sessions, the precious metal faced selling pressure and weaker global cues, leading to a notable correction in domestic markets.
As per the latest price data, silver in Mumbai is trading at Rs 2,92,000 per kilogram, down by around Rs 3,000/kg compared with the previous session. On a per-gram basis, prices eased slightly, reflecting profit booking and subdued international sentiment.
Silver price in Mumbai today (January 16, 2026)
| Quantity | Today’s price | Yesterday’s price | Change |
|---|---|---|---|
| 1 gram | Rs 292 | Rs 295 | – Rs 3 |
| 8 grams | Rs 2,336 | Rs 2,360 | – Rs 24 |
| 10 grams | Rs 2,920 | Rs 2,950 | – Rs 30 |
| 100 grams | Rs 29,200 | Rs 29,500 | – Rs 300 |
| 1 kg | Rs 2,92,000 | Rs 2,95,000 | – Rs 3,000 |
City-wise silver rates today (Mumbai benchmark)
| City | 10 grams | 100 grams | 1 kg |
|---|---|---|---|
| Chennai | Rs 3,060 | Rs 30,600 | Rs 3,06,000 |
| Mumbai | Rs 2,920 | Rs 29,200 | Rs 2,92,000 |
| Delhi | Rs 2,920 | Rs 29,200 | Rs 2,92,000 |
| Kolkata | Rs 2,920 | Rs 29,200 | Rs 2,92,000 |
| Bengaluru | Rs 2,920 | Rs 29,200 | Rs 2,92,000 |
| Hyderabad | Rs 3,060 | Rs 30,600 | Rs 3,06,000 |
| Kerala | Rs 3,060 | Rs 30,600 | Rs 3,06,000 |
| Pune | Rs 2,920 | Rs 29,200 | Rs 2,92,000 |
| Vadodara | Rs 2,920 | Rs 29,200 | Rs 2,92,000 |
| Ahmedabad | Rs 2,920 | Rs 29,200 | Rs 2,92,000 |
Why silver prices eased in Mumbai today
Silver prices in Mumbai followed global trends lower after a brief but intense rally earlier this week. The correction was driven by:
• Weaker global cues: International silver eased after recent strength, partly on profit booking and softer demand from safe-haven flows. Spot silver traded lower after hitting fresh multi-session highs.
• Stronger US dollar: A firmer dollar following stronger-than-expected US economic data made dollar-denominated commodities less attractive, curbing buying interest.
• Reduced safe-haven demand: Recent geopolitical tensions eased temporarily, reducing urgency among some investors to hold precious metals.
• Profit booking: After sharp gains and record highs, short-term traders booked profits, leading to selling pressure in domestic futures and spot markets.
Outlook
Despite today’s pullback, silver remains significantly higher on a weekly and year-to-date basis, and many analysts view the correction as a healthy consolidation after accelerated gains. Traders will watch global inflation data, USD movement, and macroeconomic cues for further direction.
Disclaimer: This article is for informational purposes only and should not be taken as financial or investment advice. Precious metal prices are subject to market risks and volatility. Always conduct your own research or consult a professional financial advisor before making investment decisions.