Silver prices in your city today, 2 March: Silver prices have jumped by over ₹10,508 on March 2 as commodity prices skyrocketed at the Indian and global markets amid rising geopolitical tensions in the Middle East with the US and Israel launching a joint operation in Iran.
Silver prices crashed jumped more than 3% as strikes between the countries continued and investors ran for a safe haven.
MCX silver rate today opened upside at ₹2,78,644 per kg and touched an intraday high of ₹2,85,978 logging an intraday high of around 3.75%. COMEX silver price opened with an upside gap and touched an intraday high of $96.930 per ounce, logging an intraday rise of 2% within a few minutes of the opening Bell in the morning trade.
Silver rate today in Delhi, Mumbai, Kolkata, Bengaluru
In the physical retail market, the silver price today in Delhi for 10 gm coins is ₹2,920. Silver rate today in Delhi for 100 gm coin is ₹29,202, and silver rate today in Delhi for 1 kg bar is ₹2,92,020, according to data from bullions.co.in.
As of 12 pm on 2 March, silver rates in different Indian cities were as follows:
1. Silver rate today in Delhi: ₹2,920 for 10 gm, ₹29,202 for 100 gm, ₹2,92,480 for 1 kg
2. Silver rate today in Jaipur: ₹2,925 1 for 10 gm, ₹29,248 for 100 gm, ₹2,92,820 for 1 kg
3. Silver rate today in Mumbai: ₹2,933 for 10 gm, ₹29,332 for 100 gm, ₹2,93,320 for 1 kg
4. Silver rate today in Kolkata: ₹2,929 for 10 gm, ₹2,929 for 100 gm, ₹2,92,940 for 1 kg
5. Silver rate today in Chennai: ₹2,942 for 10 gm, ₹29,418 for 100 gm, ₹2,94,180 for 1 kg
6. Silver rate today in Bengaluru: ₹2,936 for 10 gm, ₹29,356 for 100 gm, ₹2,93,560 for 1 kg
7. Silver rate today in Hyderabad: ₹2,938 for 10 gm, ₹29,379 for 100 gm, ₹2,93,790 for 1 kg
8. Silver rate today in Nashik: ₹2,933 for 10 gm, ₹29,332 for 100 gm, ₹2,93,320 for 1 kg
9. Silver rate today in Rajkot: ₹2,944 for 10 gm, ₹29,440 for 100 gm, ₹2,94,400 for 1 kg
10. Silver rate today in Pune: ₹2,940 for 10 gm, ₹29,401 for 100 gm, ₹2,94,010 for 1 kg
(Data from bullions.co.in.)
Why are silver prices rising today?
Silver prices jumped during trade on Monday as the tensions in the Middle East continued.
Analysts said investors rushed to safe-haven assets after the US and Israel launched coordinated military strikes on Iran, killing Supreme Leader Ayatollah Ali Khamenei and triggering retaliatory attacks from Tehran across the Middle East.
Rally in bullion futures accelerated in early morning trade, with prices jumping over 3 per cent after the US and Israel launched major strikes on Iran that killed Supreme Leader Ayatollah Ali Khamenei, marking an unprecedented escalation in the region, Manav Modi, Commodities Analyst, Motilal Oswal Financial Services Ltd, said.
Wider geopolitical tensions and US President Donald Trump’s upheaval of international relations have been key factors in a long-running rally for silver. Gold prices also rose on Monday.
Key Takeaways
- Silver prices have increased by over 3% due to escalating geopolitical tensions.
- Prices vary across major Indian cities, reflecting local market conditions.
- Investors are shifting towards safe-haven assets, affecting both silver and gold prices.
