Silver Price Today, 28 February 2026: Silver prices exploded higher on Saturday, breaking a period of steady consolidation with a spectacular ₹10,000 per kg rally as geopolitical tensions in the Middle East ignited intense safe-haven buying. Following US and Israeli raids on Iranian targets, the white metal saw its biggest one-day increase in weeks, joining gold’s rally.
International Silver Prices
Global silver markets are experiencing heightened volatility following the geopolitical escalation, with prices breaking out of their recent consolidation range.
| Metric | Value |
|---|---|
| Spot Silver | $94.50 per ounce |
| Daily Change | +7.8% (approx.) |
| Recent High | $121.64 (January 2026 all-time high) |
| Monthly Trend | -20% from January peak |
| Yearly Change | +195% from February 2025 |
Key International Drivers:
- Geopolitical Escalation: Safe-haven flows were immediately prompted by US and Israeli strikes on Iranian sites.
- Industrial Demand: Strong underlying demand from electronics and renewable energy sectors provides long-term support.
- Market Sentiment: Silver’s higher beta to gold resulted in even sharper percentage gains during the risk-on rally.
Domestic Silver Rates (India)
A four-day stabilization near ₹2.85 lakh was broken by Indian silver prices, which jumped ₹10,000 per kg in a single session, mirroring the global spike.
| Quantity | Price | Daily Change |
|---|---|---|
| Per Gram | ₹295 | +₹10 |
| Per 10 Grams | ₹2,950 | +₹100 |
| Per Kilogram | ₹2,95,000 | +₹10,000 |
MCX Futures: Silver futures for the March 2026 contract are trading near ₹2,79,000 per kg, reflecting strong bullish momentum in the derivatives market.
Today Silver Price Per Gram/Kg in Delhi (INR)
| Gram | Today | Yesterday | Change |
|---|---|---|---|
| 1 | ₹295 | ₹285 | + ₹10 |
| 8 | ₹2,360 | ₹2,280 | + ₹80 |
| 10 | ₹2,950 | ₹2,850 | + ₹100 |
| 100 | ₹29,500 | ₹28,500 | + ₹1,000 |
| 1000 | ₹2,95,000 | ₹2,85,000 | + ₹10,000 |
City-Wise Silver Rates (28 February 2026)
Due to high industrial and cultural demand, silver prices vary by area, with southern cities commanding a premium.
| City | Per 10 Grams | Per Kilogram |
|---|---|---|
| Chennai | ₹3,200 | ₹3,20,000 |
| Hyderabad | ₹3,200 | ₹3,20,000 |
| Kerala | ₹3,200 | ₹3,20,000 |
| Delhi | ₹2,950 | ₹2,95,000 |
| Mumbai | ₹2,950 | ₹2,95,000 |
| Bengaluru | ₹2,950 | ₹2,95,000 |
| Kolkata | ₹2,950 | ₹2,95,000 |
| Pune | ₹2,950 | ₹2,95,000 |
| Ahmedabad | ₹2,950 | ₹2,95,000 |
Note: All physical silver purchases in India are subject to applicable GST and levies.
Silver Rate in Delhi for Last 10 Days
| Date | 10 gram | 100 gram | 1 Kg |
|---|---|---|---|
| 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 |
| 19 Feb, 2026 | ₹2,700 | ₹27,000 | ₹2,70,000 |
Key Market Drivers
- Geopolitical Safe-Haven Demand: US and Israeli strikes on Iranian targets triggered intense buying, with investors flocking to precious metals as a hedge against broader conflict.
- Industrial Backdrop: Strong structural demand from electronics, solar panels, and 5G infrastructure continues to provide a long-term price floor.
- Currency Impact: A steady US Dollar Index near 98.28 is providing some resistance to even higher gains in rupee terms, though the geopolitical premium is currently overwhelming currency effects.
- Silver’s Beta Play: Silver’s higher volatility relative to gold resulted in even sharper percentage gains, with the white metal up nearly 8% compared to gold’s 1.75% advance.
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 |
What This Means for Investors
The geopolitical escalation adds a strong catalyst to silver’s improving technical outlook. After a decisive breakout from its four-day consolidation and a reclaim of ₹2.95 lakh, silver is now eyeing the ₹3.00–3.10 lakh zone. Immediate support lies at ₹2.85 lakh, with resistance at ₹3.00 lakh and the February high at ₹3.50 lakh. The sharp rebound from the February low of ₹2.55 lakh highlights silver’s resilience and the emergence of strong buying at discounted levels, while SIPs in silver ETFs or digital silver remain a prudent way for long-term investors to participate in the uptrend.
