Silver prices in India have seen a notable correction today, March 4, 2026, falling by ₹10,000 per kilogram. This follows a highly volatile week where the white metal hit significant peaks before retreating due to a strengthening US Dollar and shifts in global investor sentiment.
According to the latest live data from Goodreturns, silver is currently retailing at ₹2,85,000 per kg in major cities like Mumbai and Delhi, while southern markets like Chennai and Hyderabad maintain a slightly higher premium.
Today’s Silver Rate in India (March 4, 2026)
The price of silver has dropped by approximately 3.4% today. For retail buyers and small-scale investors, this correction offers a slight breather after the aggressive rallies seen earlier in the month.
Silver Price Table (99.9% Purity)
| Quantity | Today’s Price (INR) | Yesterday’s Price (INR) | Price Change |
| 1 Gram | ₹285 | ₹295 | – ₹10 |
| 10 Grams | ₹2,850 | ₹2,950 | – ₹100 |
| 100 Grams | ₹28,500 | ₹29,500 | – ₹1,000 |
| 1 Kilogram | ₹2,85,000 | ₹2,95,000 | – ₹10,000 |
Silver Prices in Major Indian Cities
Silver rates often vary by region due to local demand, transportation costs, and state taxes. Today, Chennai and Hyderabad remain the most expensive markets for the metal.
- Mumbai: ₹2,85,000 per kg
- Delhi: ₹2,85,000 per kg
- Chennai: ₹2,95,000 per kg
- Bangalore: ₹2,85,000 per kg
- Hyderabad: ₹2,95,000 per kg
- Kolkata: ₹2,85,000 per kg
Why are Silver Prices Falling Today?
Several macroeconomic factors are driving the downward movement in today’s bullion market:
- US Dollar Strength: The US Dollar Index (DXY) has surged toward the 99 level. A stronger dollar makes silver more expensive for international buyers, typically leading to a decrease in global spot prices.
- Profit Booking: After silver hit record highs (near ₹3.15 lakh/kg) just days ago, many institutional investors are liquidating their positions to lock in gains, causing a temporary price “crash.”
- Inflation Reassessment: While silver is a classic inflation hedge, rising energy costs have prompted investors to reassess the Federal Reserve’s interest rate path. Higher potential rates can diminish the appeal of non-yielding assets like silver.
- Industrial Demand Stability: While long-term demand for silver in solar panels and EVs remains high, short-term manufacturing fluctuations can lead to minor price cooling.
Historical Trend: March 2026
The month of March has been a rollercoaster for silver investors. After starting the month at approximately ₹3,12,000/kg, the metal saw a massive spike on March 2nd before beginning its current three-day descent. Despite today’s fall, silver remains up significantly compared to its 2025 year-end levels.
Conclusion
Today’s silver price in India reflects a healthy market correction within a broader high-value cycle. For those looking to purchase silver for the upcoming wedding season or as a long-term hedge, these dips provide strategic buying opportunities. To stay ahead of the curve, always monitor the live updates and city-wise variations on the Goodreturns silver rates page.
Disclaimer: The silver rates provided are indicative and do not include 3% GST, making charges, or local levies. Please verify the final price with your jeweler or bullion dealer before transacting.