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Current Trends in Silver Prices Amid Global Tensions

Silver prices are experiencing notable fluctuations due to geopolitical tensions, particularly the conflict between Iran and Israel. As of March 2, the price for one kilogram of silver is Rs 2,88,556, with retail prices slightly higher. The dynamics of silver trading are influenced by various factors, including local demand and global economic conditions. This article provides an overview of city-specific silver rates and the broader market trends affecting silver investments. Stay updated on how these factors may impact your investment decisions.
By Narendra Chaudhary Mar 2, 2026, 00:58 IST

Silver Price Fluctuations

On Monday, March 2, silver prices are expected to experience significant volatility due to ongoing conflicts between Iran and Israel. Currently, the price for one kilogram of silver is at Rs 2,88,556, while one gram is valued at Rs 288. Recent trading sessions have shown considerable price swings, reflecting changes in investor sentiment and global market trends. In the derivatives market, silver futures on the Multi Commodity Exchange (MCX) closed at Rs 2,74,389 on Friday, marking a decrease of Rs 609 or 0.22%. This decline follows a period of high prices, indicating that short-term traders may have taken profits after a recent surge. According to Goodreturns, retail prices for silver are slightly higher, with rates at Rs 295 per gram and Rs 2,95,000 per kilogram on Monday. The disparity between futures and retail prices can be attributed to local demand, logistics, and dealer premiums.


City-Specific Silver Rates

City-Wise Silver Rates

City 10 gram 100 gram 1 Kg
Chennai Rs 3,250 Rs 32,500 Rs 3,25,000
Mumbai Rs 2,950 Rs 29,500 Rs 2,95,000
Delhi Rs 2,950 Rs 29,500 Rs 2,95,000
Kolkata Rs 2,950 Rs 29,500 Rs 2,95,000
Bangalore Rs 2,950 Rs 29,500 Rs 2,95,000
Hyderabad Rs 3,250 Rs 32,500 Rs 3,25,000
Kerala Rs 3,250 Rs 32,500 Rs 3,25,000
Pune Rs 2,950 Rs 29,500 Rs 2,95,000
Vadodara Rs 2,950 Rs 29,500 Rs 2,95,000
Ahmedabad Rs 2,950 Rs 29,500 Rs 2,95,000
Jaipur Rs 2,950 Rs 29,500 Rs 2,95,000
Lucknow Rs 2,950 Rs 29,500 Rs 2,95,000
Coimbatore Rs 3,250 Rs 32,500 Rs 3,25,000
Madurai Rs 3,250 Rs 32,500 Rs 3,25,000
Vijayawada Rs 3,250 Rs 32,500 Rs 3,25,000
Patna Rs 2,950 Rs 29,500 Rs 2,95,000
Nagpur Rs 2,950 Rs 29,500 Rs 2,95,000
Chandigarh Rs 2,950 Rs 29,500 Rs 2,95,000
Surat Rs 2,950 Rs 29,500 Rs 2,95,000
Bhubaneswar Rs 3,250 Rs 32,500 Rs 3,25,000
Mangalore Rs 2,950 Rs 29,500 Rs 2,95,000
Visakhapatnam Rs 3,250 Rs 32,500 Rs 3,25,000
Nashik Rs 2,950 Rs 29,500 Rs 2,95,000
Mysore Rs 2,950 Rs 29,500 Rs 2,95,000
Salem Rs 3,250 Rs 32,500 Rs 3,25,000
Rajkot Rs 2,950 Rs 29,500 Rs 2,95,000
Trichy Rs 3,250 Rs 32,500 Rs 3,25,000
Ayodhya Rs 2,950 Rs 29,500 Rs 2,95,000
Cuttack Rs 3,250 Rs 32,500 Rs 3,25,000


Influencing Global Factors

Global Forces At Play

International events play a crucial role in determining silver prices. Factors such as geopolitical tensions, economic instability, and currency shifts significantly impact demand. Typically, during times of heightened global risk, silver tends to attract investors seeking safe-haven assets. Conversely, robust economic indicators and a stronger dollar may limit price increases. The interaction of these elements keeps silver prices in a state of flux, making them a focal point for investors.

(Data sourced from All India Bullion and will be updated regularly.)