Current Trends in Silver Prices Amid Global Tensions
Silver Prices in India Today
Silver prices in India are experiencing significant volatility due to the ongoing geopolitical tensions involving Iran, Israel, and the United States in West Asia. On the Multi Commodity Exchange (MCX), silver futures surged by 4.8% during morning trading on March 26, 2026, increasing by Rs 10,759 to reach Rs 2,34,700 per kg. In the previous session, the closing price was Rs 2,23,941 per kg. The All India Sarafa Association reported that the price of silver has risen by Rs 11,250, now standing at Rs 2,41,250 per kilogram (including taxes), up from Rs 2,30,000 per kg in the last session. Notably, silver futures had previously hit an all-time high of Rs 4,20,048 per kg on January 29 of this year.
In the international market, spot silver prices have also seen an uptick, reaching $72.67 per ounce. According to the Indian Bullion and Jewellers Association (IBJA), silver prices climbed to Rs 2,34,814 per kg on Thursday morning. Additionally, a report from GoodReturns indicated that silver prices have soared to Rs 2,50,000 per kg.
Latest Silver Rates Across Major Indian Cities
| City | 10 Gram | 100 Gram | 1 Kg |
| Chennai | ₹2,601 | ₹26,010 | ₹2,60,100 |
| Mumbai | ₹2,501 | ₹25,010 | ₹2,50,100 |
| Delhi | ₹2,501 | ₹25,010 | ₹2,50,100 |
| Kolkata | ₹2,501 | ₹25,010 | ₹2,50,100 |
| Bangalore | ₹2,501 | ₹25,010 | ₹2,50,100 |
| Hyderabad | ₹2,601 | ₹26,010 | ₹2,60,100 |
| Kerala | ₹2,601 | ₹26,010 | ₹2,60,100 |
| Pune | ₹2,501 | ₹25,010 | ₹2,50,100 |
| Vadodara | ₹2,501 | ₹25,010 | ₹2,50,100 |
| Ahmedabad | ₹2,501 | ₹25,010 | ₹2,50,100 |
Factors Influencing Silver Prices
Market analysts attribute the recent rise in silver prices to a robust performance in precious metals globally, coupled with a declining US dollar. This increase coincides with Iran receiving a 15-point proposal from the United States aimed at achieving a ceasefire in the ongoing conflict involving Iran, Israel, and the US, which has further bolstered silver prices. US President Donald Trump has expressed optimism regarding a potential agreement with Iran, noting that Vice President JD Vance and Secretary of State Marco Rubio are in discussions. However, Iran has refuted claims of any negotiations, with a military spokesperson denying such discussions.
Additionally, Iran has begun imposing transit fees on certain commercial vessels navigating through the Strait of Hormuz, contributing to market uncertainty and further affecting price trends.