New Delhi, March 05: Silver rates (silver prices) across major Indian cities continued their downward trajectory on Thursday, March 05, marking the third consecutive day of declines. Check the latest silver rates today in major cities including Delhi, Mumbai, Chennai, Hyderabad, Bengaluru, Ahmedabad, Kolkata, Jaipur, Lucknow, and Noida.

In Delhi and Mumbai, the retail price for silver dropped by INR 10,000 per kilogram, settling at INR 2,84,000. This ongoing correction follows a volatile start to the month where the white metal peaked at INR 3.15 lakh, as investors now pivot toward profit-booking amid shifting global economic signals. Gold Rate Today, March 05, 2026: Check 22K & 24K Gold Prices in Delhi, Mumbai, Chennai and Other Cities.

Silver Rates Today As of March 05, 2026 (Per Kilogram)

City

Silver Price Today
Delhi INR 2,84,900
Mumbai INR 2,84,900
Chennai INR 2,94,900
Hyderabad INR 2,94,900
Bengaluru INR 2,84,900
Ahmedabad INR 2,84,900
Kolkata INR 2,84,900
Pune INR 2,84,900
Kerala INR 2,84,900
Vadodara INR 2,84,900

Silver Rate Today: Correction Phase After Peak Volatility

The current slump is part of a broader market correction. Silver started March on a high note, hitting INR 3.25 lakh in cities like Chennai on March 1st. However, since March 3rd, the metal has shed nearly INR 30,000–INR 40,000 per kg in several regions.

Market analysts attribute this sharp decline to a strengthening US Dollar Index and a stabilization in US Treasury yields, which typically reduces the appeal of non-yielding assets. Furthermore, the nomination of new leadership at the US Federal Reserve has reportedly calmed earlier risk fears that had been propping up safe-haven demand. Petrol Price Today, March 5, 2026: Check Petrol Prices in Delhi, Mumbai, Chennai and Other Cities.

Industrial Demand vs Safe-Haven Buying

Despite the price drop, the underlying fundamentals for silver remain relatively strong. The metal continues to see robust demand from the green energy sector, specifically for solar panel manufacturing, and the growing AI data center industry.

However, in the short term, technical selling has taken over. "The fall below the psychologically important INR 3 lakh mark triggered stop-loss orders, accelerating the downside move we are seeing today," noted a report from Goodreturns. Key support levels are now being watched at the INR 2,70,000–INR 2,75,000 range.

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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 (Goodreturns), 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 05, 2026 08:51 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).