Gold, silver price today (March 2) in India: Gold slips, silver rebounds amid rising war tensions
Gold prices in India eased on Monday even amid war tensions in the Middle East continuing to influence global markets. After a sharp rally in the previous session driven by safe-haven buying, bullion witnessed profit-booking, leading to a decline in domestic rates.
- 24K gold fell by ₹329 to ₹16,980 per gram
- 22K gold declined by ₹300 to ₹15,565 per gram
- 18K gold dropped by ₹246 to ₹12,735 per gram.
The pullback comes as investors locked in gains following the recent surge triggered by geopolitical uncertainty. While gold traditionally benefits during periods of conflict and instability, short-term corrections are common after steep price spikes.
Gold continues to be viewed as a long-term hedge against inflation and currency volatility. Market participants remain watchful of further developments in the war situation, which could influence fresh safe-haven flows.
Gold rates in major Indian cities (per gram)
| City | 24K (₹) | 22K (₹) | 18K (₹) |
|---|---|---|---|
| Chennai | 17,084 | 15,660 | 13,400 |
| Mumbai | 16,980 | 15,565 | 12,735 |
| Delhi | 16,995 | 15,580 | 12,750 |
| Kolkata | 16,980 | 15,565 | 12,735 |
| Bangalore | 16,980 | 15,565 | 12,735 |
| Hyderabad | 16,980 | 15,565 | 12,735 |
| Thiruvananthapuram | 16,980 | 15,565 | 12,735 |
| Pune | 16,980 | 15,565 | 12,735 |
| Vadodara | 16,985 | 15,570 | 12,740 |
| Ahmedabad | 16,985 | 15,570 | 12,740 |
Silver prices in India today
Silver prices also witnessed significant volatility, initially declining during the day before rebounding amid global market uncertainty and currency fluctuations.
- Silver per gram: ₹330
- Silver per kilogram: ₹3,30,000
Silver rate in major cities in India today
| City | 10 Gram | 100 Gram | 1 Kg |
|---|---|---|---|
| Chennai | ₹3,150 | ₹31,500 | ₹3,15,000 |
| Mumbai | ₹3,300 | ₹33,000 | ₹3,30,000 |
| Delhi | ₹3,300 | ₹33,000 | ₹3,30,000 |
| Kolkata | ₹3,300 | ₹33,000 | ₹3,30,000 |
| Bangalore | ₹3,300 | ₹33,000 | ₹3,30,000 |
| Hyderabad | ₹3,150 | ₹31,500 | ₹3,15,000 |
| Thiruvananthapuram | ₹3,150 | ₹31,500 | ₹3,15,000 |
| Pune | ₹3,300 | ₹33,000 | ₹3,30,000 |
| Vadodara | ₹3,300 | ₹33,000 | ₹3,30,000 |
| Ahmedabad | ₹3,300 | ₹33,000 | ₹3,30,000 |
Silver rates in India are influenced by international bullion trends as well as the rupee’s performance against the US dollar. A weaker rupee typically makes imports costlier, thereby pushing up domestic prices even if global rates remain stable.
Market analysts say bullion prices are likely to remain volatile as the war situation unfolds and investors continue to track geopolitical developments closely.