Silver Price Today [2 March, 2026]: Silver Lowered to ₹2.94 Lakh/kg in India Amid Iran Conflict; International Spot Holds at  $93.41 | City-Wise Rates

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.