Silver prices are poised for sharp movements on Monday, March 2, as escalating tensions between Iran and Israel inject uncertainty into global financial markets. The precious metal, known for its dual role as both an industrial commodity and a safe-haven asset, is experiencing heightened activity across spot and futures segments. On Tuesday, March 3, the price of one kilogram of silver was quoted at Rs 2,81,807, while the per gram rate stood at Rs 282.
On the Multi Commodity Exchange (MCX), silver futures closed the trading session at Rs 2,80,090 on Monday. This represents a loss of Rs 2,554 or 0.90 per cent, underscoring the renewed buying interest in the derivatives market.
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
Global Forces At Play
International developments remain central to silver’s trajectory. Geopolitical tensions, economic uncertainties, and currency fluctuations all influence demand dynamics. When global risks rise, silver often attracts safe-haven buying. On the other hand, stronger economic data and a firmer dollar can temper upward momentum. The interplay between these forces continues to keep silver prices dynamic and closely watched by investors.
(The data have been taken from the All India Bullion and will be updated frequently.)
