Silver Rate on June 16: Prices steady after sharp rally; check rates across major cities

Silver price in the Indian market stood steady today (June 16, 2026). According to Goodreturns.in, silver price today quoted at ₹2.65 lakh per kg.

The price has fallen a sharp over 40%, since the highs scaled early this year.

Factors influencing silver rates

Silver prices have declined on the MCX. Silver July futures were down 1.59% or ₹3,988 at ₹2,47,470 per kg at around the time of writing this copy at 11:15 am.

The prices have come down mirroring movement in the international silver market. US silver (July futures) have come down by over 1% to $69.44 per ounce. Amid the US-Iran temporary deal. silverr prices have gained sharply by over 4%, leading to profit-booking in the white metal.

The downtrend in the white metal is seen even as the crude oil price has declined. Also, expectations around higher-for-longer interest rates has also subsided.

Now, bullion price will largely be influenced by monetary policy decisions by major central banks, including the Federal Reserve and Bank of England, which are scheduled to announce policy outcomes later in the week.

Fed Chair Kevin Warsh will be closely watched as June Fed meeting marks his first policy meeting.

So going forward, bullion price trajectory will be determined by interest rate expectations and global central banks tightening measures.