New Delhi, March 4: Silver rates (silver prices) across India witnessed a moderate correction today, March 4, as the precious metal retreated from the multi-month highs reached earlier this week. The retail price for silver fell by INR 100 per kilogram, settling at INR 2,94,900 in major metropolitan areas including Mumbai, Delhi, and Kolkata. This cooling trend follows a period of intense volatility where silver prices briefly surged past the INR 3.30 lakh mark amid escalating geopolitical tensions 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 04, 2026: Check 22K & 24K Gold Prices in Delhi, Mumbai, Chennai and Other Cities.

Current Retail Rates of Silver and Purity Levels

The domestic market saw a slight softening in prices across all weight categories on Wednesday morning. The retail rates for physical silver are as follows:

  • 1 Kilogram: INR 2,94,900

  • 100 Grams: INR 29,490

  • 10 Grams: INR 2,949

  • 1 Gram: INR 294.90

While the national average cooled slightly, southern markets such as Chennai, Hyderabad, and Kerala maintained a significant premium, with prices holding steady at INR 3,14,900 per kilogram due to robust local demand for ornaments and industrial silverware.

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

City Silver Price Today
Delhi INR 2,94,900
Mumbai INR 2,94,900
Chennai INR 3,14,900
Hyderabad INR 3,14,900
Bengaluru INR 2,94,900
Ahmedabad INR 2,94,900
Kolkata INR 2,94,900
Pune INR 2,94,900
Kerala INR 3,14,900
Vadodara INR 2,94,900

Factors Influencing Today's Silver Price Action

Market analysts attribute the minor dip to profit-booking by investors after a historic rally. In the international market, spot silver eased from its peak of USD 94.50 per ounce, reflecting a broader "wait-and-watch" approach as traders monitor the US dollar index and ongoing military developments involving the U.S, Israel, and Iran. The "white metal" has been a standout performer in 2026, gaining approximately 30 per cent since January. Its dual nature as both a safe-haven asset and a critical industrial component - driven by the expansion of AI infrastructure, solar energy, and electric vehicles - has provided a strong floor for prices even during technical corrections.

Historical Performance and Outlook

The current price of INR 2.94 lakh per kg remains significantly higher than the February average. Earlier this year, silver made history by breaching the INR 4 lakh per kilogram mark in late January following global tariff threats and supply deficits. Experts suggest that while the immediate momentum has slowed, the long-term outlook remains bullish.

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(The above story first appeared on LatestLY on Mar 04, 2026 08:38 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).