Current Trends in Silver Prices: Fluctuations and Market Insights
Today's Silver Rates
Current Silver Prices: Silver prices have been fluctuating recently, influenced by changing dynamics in both local and global markets. As of Saturday, February 28, the cost for 1 kg of silver was recorded at Rs 2,74,525, while 1 gram was priced at Rs 275. On the Multi Commodity Exchange (MCX), silver futures concluded at Rs 274,389, marking a decrease of Rs 609 or 0.22% on Friday. According to Goodreturns, silver prices in India on Saturday are Rs 285 per gram and Rs 2,85,000 per kilogram.
Silver Prices in Major Indian Cities
Silver Rates Across Key Cities
| City | 10 gram | 100 gram | 1 Kg |
| Chennai | Rs 2,950 | Rs 29,500 | Rs 2,95,000 |
| Mumbai | Rs 2,850 | Rs 28,500 | Rs 2,85,000 |
| Delhi | Rs 2,850 | Rs 28,500 | Rs 2,85,000 |
| Kolkata | Rs 2,850 | Rs 28,500 | Rs 2,85,000 |
| Bangalore | Rs 2,850 | Rs 28,500 | Rs 2,85,000 |
| Hyderabad | Rs 2,950 | Rs 29,500 | Rs 2,95,000 |
| Kerala | Rs 2,950 | Rs 29,500 | Rs 2,95,000 |
| Pune | Rs 2,850 | Rs 28,500 | Rs 2,85,000 |
| Vadodara | Rs 2,850 | Rs 28,500 | Rs 2,85,000 |
| Ahmedabad | Rs 2,850 | Rs 28,500 | Rs 2,85,000 |
| Jaipur | Rs 2,850 | Rs 28,500 | Rs 2,85,000 |
| Lucknow | Rs 2,850 | Rs 28,500 | Rs 2,85,000 |
| Coimbatore | Rs 2,950 | Rs 29,500 | Rs 2,95,000 |
| Madurai | Rs 2,950 | Rs 29,500 | Rs 2,95,000 |
| Vijayawada | Rs 2,950 | Rs 29,500 | Rs 2,95,000 |
| Patna | Rs 2,850 | Rs 28,500 | Rs 2,85,000 |
| Nagpur | Rs 2,850 | Rs 28,500 | Rs 2,85,000 |
| Chandigarh | Rs 2,850 | Rs 28,500 | Rs 2,85,000 |
| Surat | Rs 2,850 | Rs 28,500 | Rs 2,85,000 |
| Bhubaneswar | Rs 2,950 | Rs 29,500 | Rs 2,95,000 |
| Mangalore | Rs 2,850 | Rs 28,500 | Rs 2,85,000 |
| Visakhapatnam | Rs 2,950 | Rs 29,500 | Rs 2,95,000 |
| Nashik | Rs 2,850 | Rs 28,500 | Rs 2,85,000 |
| Mysore | Rs 2,850 | Rs 28,500 | Rs 2,85,000 |
| Salem | Rs 2,950 | Rs 29,500 | Rs 2,95,000 |
| Rajkot | Rs 2,850 | Rs 28,500 | Rs 2,85,000 |
| Trichy | Rs 2,950 | Rs 29,500 | Rs 2,95,000 |
| Ayodhya | Rs 2,850 | Rs 28,500 | Rs 2,85,000 |
| Cuttack | Rs 2,950 | Rs 29,500 | Rs 2,95,000 |
Factors Influencing Global Silver Prices
What Drives Silver Price Fluctuations?
Silver prices are influenced by a combination of economic and industrial factors globally. High demand from sectors such as electronics, renewable energy, and manufacturing can lead to price increases, while downturns in these areas may cause prices to drop. Additionally, geopolitical tensions and currency value changes contribute to market volatility. A stronger US dollar typically exerts downward pressure on silver prices. Conversely, during times of economic uncertainty or negative market trends, investors often seek silver as a safe investment, which can result in price hikes.
(Data sourced from All India Bullion and will be updated regularly.)