Gold rate today 16 February 2026: 24K price holds steady while silver crash in India
Delhi: Gold prices in India held steady near record territory Monday, February 16, 2026, as global safe-haven demand balanced a cooling domestic retail sector. While gold maintained its grip on recent gains, silver prices continued a sharp descent, dropping to their lowest levels in six weeks.
In the national capital, 24-karat gold opened at ₹1,57,900 per 10 grams, as investors weighed a strengthening rupee against geopolitical uncertainty in the Middle East.
Metropolitan Gold Rates
Retail prices varied across India's primary bullion hubs, influenced by local taxes and transportation costs.
| City | 24K Gold (10g) | 22K Gold (10g) | 18K Gold (10g) |
| Chennai | ₹1,58,950 | ₹1,45,710 | ₹1,19,213 |
| Delhi | ₹1,57,900 | ₹1,44,750 | ₹1,18,460 |
| Mumbai | ₹1,57,890 | ₹1,44,740 | ₹1,18,418 |
| Kolkata | ₹1,57,870 | ₹1,44,720 | ₹1,18,403 |
| Bengaluru | ₹1,57,750 | ₹1,44,600 | ₹1,18,310 |
| Hyderabad | ₹1,57,740 | ₹1,44,590 | ₹1,18,300 |
| Ahmedabad | ₹1,52,920 | ₹1,45,640 | ₹1,19,160 |
| Thiruvananthapuram | ₹1,51,830 | ₹1,44,600 | ₹1,18,310 |
Silver’s Market Retreat
The industrial metal faced its most significant sell-off of the quarter, with prices retreating across all major trading centres.
- National Average: Silver is retailing at ₹2,75,000 per kilogram in Mumbai, Delhi, and Kolkata.
- Southern Premiums: Prices remain slightly elevated in Chennai and Hyderabad at ₹2,80,000 per kg, while Thiruvananthapuram reported a high of ₹2,99,000 per kg due to localised wedding season demand.
Technical Analysis and Outlook
Analysts noted that the "Gold-Silver Ratio" has widened significantly this month, indicating that silver is underperforming its more stable counterpart.
- The "Silver Crash": After hitting a psychological peak of ₹4,00,000 per kg in early January, the metal has entered a correction phase, shedding over 20% of its value in 30 days.
- Price Drivers: Domestic rates are currently reacting to a "wait-and-watch" approach by the Reserve Bank of India regarding interest rates, alongside a dip in industrial demand for silver from the renewable energy sector.
Prices quoted are exclusive of the 3% Goods and Services Tax (GST), making charges, and local jewellery premiums, which typically add 5% to 12% to the final bill at the counter.