Mumbai, March 1: Silver rates (silver prices) in India remained firm on Sunday, March 1, holding steady after a volatile week that saw the industrial metal hover near historic peaks. In the national capital, retail silver is trading at approximately INR 2,95,000 per kilogram, while premium markets in South India, including Chennai and Hyderabad, report slightly higher rates near INR 3,20,000. Analysts suggest that while global markets are closed for the weekend, a "risk-on" sentiment driven by recent Middle East developments continues to provide a strong floor for bullion.

Check the latest silver rates today in major cities including Delhi, Mumbai, Chennai, Hyderabad, Bengaluru, Ahmedabad, Kolkata, Jaipur, Lucknow, and Noida. Gold Rate Today, March 01, 2026: Check 22K & 24K Gold Prices in Delhi, Mumbai, Chennai and Other Cities.

City-Wise Silver Rates Retail Breakdown

Domestic silver rates vary across the country due to local demand, state-level taxes, and logistics costs. Southern cities continue to trade at a premium compared to Northern and Western hubs.

According to latest market data, the rates in major cities are as follows:

Silver Rates Today As of March 01, 2026 (Per Kilogram)

City Silver Price Today
Delhi INR 2,95,000
Mumbai INR 2,95,000
Chennai INR 3,20,000
Hyderabad INR 3,20,000
Bengaluru INR 2,95,000
Ahmedabad INR 2,95,000
Kolkata INR 2,95,000
Pune INR 2,95,000
Kerala INR 3,20,000
Vadodara INR 2,95,000

The Geopolitical Risk Premium

The primary driver behind the current price stability is the escalation of tensions in the Middle East. Following recent strikes involving the U.S., Israel, and Iran, investors have flocked to precious metals as a safe haven. This geopolitical risk has largely offset the pressure from a stronger U.S. Dollar, which typically makes silver more expensive for Indian importers. On the international front, spot silver ended the trading week near USD 90 per ounce. Traders are now closely watching for any further developments that could push the metal toward the psychological resistance level of USD 100.

Industrial Demand and Supply Deficit

Beyond its role as a financial hedge, silver’s industrial fundamentals remain exceptionally strong. The "green energy" transition continues to fuel massive demand for the metal in solar panel manufacturing and electric vehicle (EV) components. Market experts note that 2026 marks the sixth consecutive year of a structural global supply deficit. With inventory at major exchanges like COMEX falling below critical levels, any increase in physical demand for industrial use or retail investment tends to result in rapid price spikes. Silver Rate Today, February 28, 2026: Check Latest Prices of White Metal in Delhi, Mumbai, Chennai and Other Major Cities.

Outlook for the Week Ahead

Investors are shifting their focus to the upcoming opening of the Multi Commodity Exchange (MCX) on Monday. Key economic indicators from the United States, including manufacturing data and employment figures, are expected to dictate the next major move. Retailers in India also anticipate steady demand as the wedding season persists, though many consumers are reportedly moving toward digital silver and ETFs to avoid the high making charges associated with physical bars and jewelry.

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(The above story first appeared on LatestLY on Mar 01, 2026 08:55 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).