Silver Price Today, 2 March 2026: Silver has seen a significant surge both globally and domestically as investors seek safe havens amid Middle East military escalation. International silver spot prices are trading near $93.41 per ounce, reflecting a slight intraday decline of 0.43%. Despite this minor retreat, the precious metal remains in a strong multi-month uptrend, having risen nearly 195% over the past year.
International Silver Price
In the face of increased geopolitical unpredictability, global silver markets declined today, with prices to previous low.
| Metric | Value |
|---|---|
| Spot Silver | $93.41 per ounce, |
| Per Gram | ~$3.00 |
| Per Kilogram | ~$3,003.15 |
| Daily Change | +7.8% (from recent lows) |
Key International Drivers:
- Geopolitical Tensions: Rising conflicts involving the U.S., Israel, and Iran are pushing investors to view silver as a safe-haven asset.
- Industrial Demand: Strong demand from sectors like AI data centers, solar energy, and electric vehicles continues to support silver prices.
- Record Levels: Silver reached a historic peak of $121.64 per ounce in January 2026. Analysts note that maintaining levels above $95/oz could trigger a move toward the $100 mark.
Domestic Silver Price (India)
Indian silver prices are still high, indicating a robust recovery from lows in mid-February. Although prices in southern cities are significantly higher, the average price nationwide is about ₹2,95,000 per kilogram.
| Quantity | National Average | Daily Change |
|---|---|---|
| Per Gram | ₹294 | -₹1 (from recent consolidation) |
| Per 10 Grams | ₹2,949 | -1 |
| Per Kilogram | ₹2,94,900 | -₹100 |
Silver Rate Trend in India (10 Grams)
| Date | Price (₹) |
|---|---|
| Feb 23 | 3,000 |
| Feb 24 | 2,650 |
| Feb 25 | 2,900 |
| Feb 26 | 2,950 |
| Feb 27 | 2,950 |
| Feb 28 | 3,000 |
| Mar 01 | 3,000 |
Today Silver Price Per Gram/Kg in Delhi (INR)
| Gram | Today | Yesterday | Change |
|---|---|---|---|
| 1 | ₹294.90 | ₹295 | -0.10 |
| 8 | ₹2,359.20 | ₹2,360 | -0.80 |
| 10 | ₹2,949 | ₹2,950 | -1 |
| 100 | ₹29,490 | ₹29,500 | -10 |
| 1000 | ₹2,94,900 | ₹2,95,000 | -100 |
City-Wise Domestic Rates (Per Kilogram)
Silver prices show significant regional variation, with southern cities commanding substantial premiums due to strong cultural and industrial demand.
| City | Silver Price (per kg) | Change from Yesterday |
|---|---|---|
| Chennai | ₹3,25,100 | + ₹100 |
| Hyderabad | ₹3,25,100 | + ₹100 |
| Kerala | ₹3,25,100 | + ₹100 |
| Delhi | ₹2,94,900 | -100 |
| Mumbai | ₹2,94,900 | -100 |
| Bangalore | ₹2,94,900 | -100 |
| Kolkata | ₹2,94,900 | -100 |
| Pune | ₹2,94,900 | -100 |
| Ahmedabad | ₹2,94,900 | -100 |
| Lucknow | ₹2,94,900 | -100 |
Note: Retail prices for silver articles and jewellery will include a 3% GST and varying making charges (typically 5% to 25%) over these base bullion rates.
Silver Rate in Delhi for Last 10 Days
| Date | 10 gram | 100 gram | 1 Kg |
|---|---|---|---|
| 01 Mar, 2026 | ₹2,950 | ₹29,500 | ₹2,95,000 |
| 28 Feb, 2026 | ₹2,950 | ₹29,500 | ₹2,95,000 |
| 27 Feb, 2026 | ₹2,850 | ₹28,500 | ₹2,85,000 |
| 26 Feb, 2026 | ₹2,850 | ₹28,500 | ₹2,85,000 |
| 25 Feb, 2026 | ₹2,850 | ₹28,500 | ₹2,85,000 |
| 24 Feb, 2026 | ₹2,850 | ₹28,500 | ₹2,85,000 |
| 23 Feb, 2026 | ₹3,000 | ₹30,000 | ₹3,00,000 |
| 22 Feb, 2026 | ₹2,750 | ₹27,500 | ₹2,75,000 |
| 21 Feb, 2026 | ₹2,750 | ₹27,500 | ₹2,75,000 |
| 20 Feb, 2026 | ₹2,700 | ₹27,000 | ₹2,70,000 |
Key Market Insights
- Market Volatility: In 2026, the price of silver has fluctuated greatly; it peaked in January at over ₹4,00,000 a kg, then sharply declined before currently bouncing back toward ₹3.25 lakh in premium markets.
- Safe-Haven Demand: Renewed geopolitical tensions (US-Israel-Iran strikes) have pushed investors toward bullion as a hedge against uncertainty.
- Regional Premiums: Southern markets like Chennai, Hyderabad, and Kerala experienced significant hikes of up to ₹25,000 per kilogram in a single day, showing greater local demand dynamics, while several North Indian towns remained stable today following a previous spike.
- Investment Options: Beyond physical silver, investors are active in the MCX Silver derivatives market and Silver ETFs, with some funds showing significant 1-year returns.
Silver Price Movement in February 2026
| Metric | Rate (₹/kg) |
|---|---|
| 1 February Opening | 3,50,000 |
| 28 February Closing | 2,95,000 |
| Highest Peak | 3,50,000 (1 Feb) |
| Lowest Point | 2,55,000 (18 Feb) |
| Recovery from Lows | +₹40,000 per kg |
| Monthly % Change | -15.71% |
Silver Price Movement in January 2026
| Metric | Rate (₹/kg) |
|---|---|
| 1 January Opening | 2,38,000 |
| 31 January Closing | 3,50,000 |
| Highest Peak | 4,10,000 (29 Jan) |
| Lowest Point | 2,38,000 (1 Jan) |
| Monthly % Change | +47.06% |
| Performance | Record-breaking rally |
Top Online Platforms to Buy Silver in India (2026)
- Digital Gold & Silver Apps: OroPocket (₹1 entry, Bitcoin incentives), Google Pay, Paytm, and PhonePe (MMTC-PAMP, SafeGold).
- Jewellery Brand Platforms: Tanishq, CaratLane, Kalyan Jewellers Candere (silver coins, bars, utensils).
- Physical Bullion Platforms: MMTC-PAMP (999.9 purity silver bars/coins), Augmont, Motilal Oswal.
Why Silver Is Lower today
The renewed rally in silver is driven by a combination of factors:
- Demand for a Geopolitical Safe Haven: As investors look for shelter from a wider regional conflict, military strikes involving the United States, Israel, and Iran have led to a sharp increase in the purchase of precious metals.
- Weaker US Dollar: A softer dollar index is supporting all dollar-denominated commodity prices.
- Technical Momentum: Silver has broken above its recent consolidation range, triggering follow-through buying.
- Regional Dynamics: Southern Indian markets are seeing additional premiums due to strong local demand, with Hyderabad recording a stunning ₹25,000 single-day jump.
What This Means for Investors
The geopolitical escalation adds powerful momentum to silver’s recovery from February lows. Key levels to watch:
For North Indian markets (Delhi, Mumbai):
- Support: ₹2,85,000 per kg
- Resistance: ₹3,00,000 per kg
For South Indian markets (Chennai, Hyderabad):
- Support: ₹3,00,000 per kg
- Resistance: ₹3,30,000 per kg
For long-term investors, silver’s sharp recovery from the February low of ₹2.55 lakh to current levels demonstrates the metal’s resilience. Investing in silver ETFs or digital silver through systematic investment plans (SIPs) is still a good way to take part in the precious metals uptrend while controlling entry timing risk.
