Silver prices in India have hit a pause today, March 5, 2026, following a week of dramatic “rollercoaster” movements. After hitting a monthly peak of ₹3.15 lakh per kg on March 2, the “common man’s gold” has seen a steady correction over the last three days, settling into a more stable range for retail buyers.
According to the latest live data from Goodreturns, silver is currently trading at ₹2,84,900 per kilogram, marking a minor dip of ₹100 from yesterday’s close.
Today’s Silver Rate in India (March 5, 2026)
As the market enters a consolidation phase, retail prices across the country have stabilized. For those looking to buy smaller quantities for jewelry or puja, the rates are as follows:
Silver Price Table (99.9% Purity)
| Quantity | Today’s Price (INR) | Yesterday’s Price (INR) | Price Change |
| 1 Gram | ₹284.90 | ₹285 | – ₹0.10 |
| 10 Grams | ₹2,849 | ₹2,850 | – ₹1 |
| 100 Grams | ₹28,490 | ₹28,500 | – ₹10 |
| 1 Kilogram | ₹2,84,900 | ₹2,85,000 | – ₹100 |
Silver Prices in Major Cities: Regional Variations
While the national average has dipped, southern markets like Chennai and Hyderabad continue to command a significant premium due to higher local demand and different tax structures.
| City | Silver Price Today (per kg) |
| Mumbai | ₹2,84,900 |
| Delhi | ₹2,84,900 |
| Chennai | ₹2,94,900 |
| Bangalore | ₹2,84,900 |
| Hyderabad | ₹2,94,900 |
| Kolkata | ₹2,84,900 |
| Pune | ₹2,84,900 |
Why is Silver Stabilizing Today?
The sharp “crash” of over ₹30,000 per kg from Monday’s highs has finally slowed down. Market analysts point to four key factors influencing today’s price action:
- US Dollar Strength: The US Dollar Index (DXY) remains firm near 99. A strong dollar typically weighs down precious metals, preventing a fresh rally in silver.
- Profit Booking: After silver hit record-breaking levels earlier this year (peaking near ₹4 lakh in January), institutional investors have been liquidating positions to lock in gains.
- Industrial Demand vs. Substitution: While silver is essential for solar panels and EVs, high costs are leading some manufacturers to explore “silver-free” thin-film technologies, creating a long-term tug-of-war for the metal’s price floor.
- Geopolitical Quiet: The lack of immediate escalation in the Middle East conflict today has reduced the “panic buying” seen at the start of the week.
Is Silver a Good Buy Right Now?
Historical data for March 2026 shows that silver is currently at its lowest point for the month so far.
- Bullish Case: Supply remains in a structural deficit. Since 80% of silver is a byproduct of other mining (like copper or lead), production cannot simply ramp up to meet the surging demand from the AI and Green Energy sectors.
- Bearish Case: High volatility. In 2026 alone, silver has swung from ₹4,10,000 to ₹2,55,000, making it a high-risk, high-reward asset.
Conclusion
Today’s silver price in India offers a moment of calm for buyers who were sidelined by the massive price spikes of early March. While the trend is currently “Falling” (-3.42% for the month), the underlying industrial demand ensures that silver remains a strategic asset for 2026.
For minute-by-minute updates and to use the silver rate calculator, check the Goodreturns silver rates page.
Disclaimer: The rates mentioned are indicative and do not include the 3% GST or making charges. Always verify prices with your local jeweler before making a purchase.