New Delhi, March 3: Silver rates (silver prices) in India saw a marginal uptick on Tuesday, March 3, building on the significant gains recorded at the start of the week. According to data from the Good Returns website, the retail price for silver rose by INR 100 per kilogram, bringing the national average to INR 3,15,100. The slight rise follows a massive INR 20,000 surge on Monday, as domestic bullion markets continue to react to heightened geopolitical instability in the Middle East.

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 03, 2026: Check 22K & 24K Gold Prices in Delhi, Mumbai, Chennai and Other Cities.

City-Wise Silver Rates As of March 3, 2026

While silver prices are relatively uniform across most Indian metropolitan areas today, subtle variations remain due to local entry taxes and transportation costs.

Silver Rates Today As of March 03, 2026 (Per Kilogram)

City Silver Price Today
Delhi INR 3,15,100
Mumbai INR 3,15,100
Chennai INR 3,14,900
Hyderabad INR 3,14,900
Bengaluru INR 3,15,100
Ahmedabad INR 3,15,100
Kolkata INR 3,15,100
Pune INR 3,15,100
Kerala INR 3,14,900
Vadodara INR 3,15,100

Market Momentum and Volatility

The current price of INR 3.15 lakh per kg represents a significant recovery from the mid-February lows of INR 2.55 lakh. The market is currently in a "volatile expansion phase," with prices frequently making intraday swings of several thousand rupees. On the Multi Commodity Exchange (MCX), silver futures for March delivery have mirrored this trend, trading near the INR 2,85,000 level. Analysts suggest that the wide gap between MCX futures and local retail prices is due to high physical demand and the inclusion of import duties and GST at the retail level.

Factors Driving Silver's Rise

The primary catalyst for the current bullion rally is the ongoing regional conflict involving the US. and Iran. Following strikes on key energy infrastructure, such as the Ras Tanura refinery, investors have moved aggressively into "safe-haven" assets. Additionally, silver is benefiting from its dual role as an industrial metal. Sustained demand from the solar energy and electric vehicle (EV) sectors has kept supply tight, providing a strong floor for prices even during periods of equity market stability. Silver Rate Today, March 02, 2026: Check Latest Prices of White Metal in Delhi, Mumbai, Chennai and Other Major Cities.

Investor Outlook

With prices hovering near historic highs, market experts featured on Good Returns suggest a "staggered" investment approach. While the long-term outlook for silver remains bullish - with some analysts eyeing the USD 100 per ounce mark internationally - short-term profit booking is expected at current levels. For retail buyers, today's price of INR 315.10 per gram serves as a benchmark for those looking to purchase small quantities of coins or bars during the current wedding and festival season.

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Rating:3

TruLY Score 3 – Believable; Needs Further Research | On a Trust Scale of 0-5 this article has scored 3 on LatestLY, this article appears believable but may need additional verification. It is based on reporting from news websites or verified journalists (Good Returns), but lacks supporting official confirmation. Readers are advised to treat the information as credible but continue to follow up for updates or confirmations

(The above story first appeared on LatestLY on Mar 03, 2026 08:08 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).