Silver Prices Anticipate Volatility Amid Rising Geopolitical Tensions
Market Overview
On Monday, March 2, silver prices are expected to experience significant fluctuations due to escalating tensions between Iran and Israel, which are creating uncertainty in global financial markets. This precious metal serves both as an industrial commodity and a safe-haven asset, leading to increased trading activity in both spot and futures markets. As of Tuesday, March 3, the price for one kilogram of silver was reported at Rs 2,81,807, with the per gram rate at Rs 282. On the Multi Commodity Exchange (MCX), silver futures concluded the trading day at Rs 2,80,090 on Monday, reflecting a decline of Rs 2,554 or 0.90 percent, highlighting renewed interest in the derivatives market.
City-Wise Silver Prices in India
City-Wise Silver Prices Across India
| City | 10 gram (Rs) | 100 gram (Rs) | 1 Kg (Rs) |
| Chennai | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Mumbai | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Delhi | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Kolkata | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Bangalore | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Hyderabad | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Kerala | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Pune | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Vadodara | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Ahmedabad | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Jaipur | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Lucknow | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Coimbatore | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Madurai | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Vijayawada | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Patna | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Nagpur | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Chandigarh | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Surat | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
| Bhubaneswar | Rs 3,150 | Rs 31,500 | Rs 3,15,000 |
Influencing Global Factors
Global events play a crucial role in shaping silver prices. Factors such as geopolitical tensions, economic instability, and currency shifts significantly affect demand. Typically, when global risks increase, silver garners attention as a safe-haven investment. Conversely, robust economic indicators and a stronger dollar can dampen price increases. The interaction of these elements keeps silver prices volatile and under close observation by market participants.
(The data have been taken from the All India Bullion and will be updated frequently.)