Silver Rates In India Drop By Rs 10,000 In Single Day; Why Are Silver Prices Falling? Silver Rates City-Wise

Silver rates in India continued to fall for the second time this with March 4th witnessing a Rs 10,000 decline in 1Kg silver. In the previous session, 1Kg silver dropped by Rs 20,000. However, the price of 1Kg physical silver stood at Rs 2.85 lakh in majority of cities, but in cities like Chennai, Hyderabad and Kerala, the rate held around Rs 2.95 lakh. As long as dollar is steady or rising, silver will feel the pinch of bears.

Physical silver rates tracked the performance in spot silver which fell by 8% yesterday. The dollar has strengthened and is near 99 level.

What Is Impacting Silver Prices In India?

According to Ross Maxwell, Global Strategy Operations Lead, VT Markets, heightened geopolitical tensions typically increase safe-haven demand for precious metals, and silver may benefit from risk-off flows if the threat of escalation remains. Any threat to Middle East energy supply routes would lift crude oil prices, bringing about inflation worries and indirectly supporting silver as an inflation hedge.

However, he added that gains may be contained if the USD strengthens sharply amid global uncertainty, as a stronger USD can put pressure on metal prices in the short term.

Silver Rates In India:

1Kg silver rate fell by Rs 10,000 on March 4th to Rs 2.85 lakh, while 100 grams silver dropped by Rs 1,000 to Rs 28,500 and 10 grams silver dipped by Rs 100 to Rs 2,850. The price of 8 grams silver is down by Rs 80 to Rs 2,280 and 1 grams silver is lower by Rs 10 to Rs 285.

Silver Rates In Top Cities In India:

City	10 gram	100 gram	1 Kg
Chennai	₹2,950	₹29,500	₹2,95,000
Mumbai	₹2,850	₹28,500	₹2,85,000
Delhi	₹2,850	₹28,500	₹2,85,000
Kolkata	₹2,850	₹28,500	₹2,85,000
Bangalore	₹2,850	₹28,500	₹2,85,000
Hyderabad	₹2,950	₹29,500	₹2,95,000
Kerala	₹2,950	₹29,500	₹2,95,000
Pune	₹2,850	₹28,500	₹2,85,000
Vadodara	₹2,850	₹28,500	₹2,85,000
Ahmedabad	₹2,850	₹28,500	₹2,85,000

Silver Rates Prediction Ahead:

In Maxwell's view, industrial demand remains a supportive medium-term factor, but near-term direction will be driven largely by headlines related to the conflict and broader risk sentiment

He added that silver is likely to be cautiously positive, but traders need to be prepared for high volatility and price swings depending on geopolitical headlines and currency movements.

Meanwhile, as per Ponmudi R, CEO of Enrich Money, here's how silver could perform in India and globally.

MCX Silver Price Outlook

MCX Silver futures are currently trading around Rs 2,60,000-Rs 2,80,000 following a gap-up opening. The long-term bullish framework remains intact, supported by favorable global cues amid heightened geopolitical tensions. Prices continue to extend their upward trajectory, with short-term momentum turning decisively positive. Key support lies within the Rs 2,50,000-Rs 2,70,000 zone.

A sustained hold above this region could trigger further upside toward Rs 3,00,000-Rs 3,20,000. Dips toward strong support zones may provide accumulation opportunities for positional traders, although a decisive breakdown below these levels could accelerate downside pressure.

Spot Silver Price Outlook

COMEX Silver is currently trading in the $80-$90 zone, following a strong recovery from recent lows. The broader bullish structure remains intact on higher timeframes. Prices have reclaimed major moving averages, signalling a transition from correction toward renewed strength. Strong buying interest is visible within the $76-$80 support band.

A sustained move above $96-$100 could reignite momentum toward $110-$115, potentially retesting previous highs. Despite intermittent volatility, the medium- to long-term outlook remains constructive, supported by safe-haven demand and global geopolitical developments.

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