Gold Silver Rate Today, 2 March, 2026: City-Wise Price As Middle East War Drives MCX Safe-Haven Rally

Gold and silver in India climb amid rising geopolitical tensions in the Middle East, with global price movements and rupee dynamics shaping local quotes. The rally reflects safe-haven demand and currency influences, while city-wise rates show notable variations across major markets.

Gold and silver prices are surging across India as the Middle East conflict deepens, pushing investors towards safe-haven assets. Domestic bullion rates have jumped alongside strong gains in international markets, and analysts expect sharp moves when trading opens on 2 March 2026, with volatility likely to stay elevated at the start of the week.

Data from the Bullions website shows the all-India gold rate at Rs 1,62,490 per 10 grams on Friday, while silver stands at Rs 2,82,140 per kilogram. Over the past week, Comex silver futures rose by $10.34, or 12.55%, and international gold prices increased by $167, a gain of 3.3%, highlighting strong global buying interest.

Gold and silver prices and geopolitical tension impact

Market participants say the latest escalation in the Middle East is pushing global investors to reassess risk. During such periods, funds often move from equities, real estate, and riskier assets into bullion. Analysts expect Indian gold and silver prices to reflect this shift, especially during Monday’s early session, as trading follows international cues.

Precious metals are widely viewed as a store of value when fiat currencies and stock markets face stress. Historically, gold and silver hold purchasing power during prolonged conflict and instability. With the US-Iran conflict still developing, market experts expect bullion to remain in focus, especially for investors seeking protection from potential losses.

Currency movements also play a key role in domestic price formation. Silver prices in India are influenced by global benchmarks and by how the rupee trades against the US dollar. When the rupee weakens while international prices remain steady, imported silver becomes costlier, adding upward pressure to local rates even without fresh global spikes.

Gold and silver prices across Indian cities

GoodReturns tracks gram-wise rates and carat-wise differences. Across India, 24-carat gold has risen by Rs 10 and is now quoted at Rs 17,309 per gram and Rs 1,73,090 per 10 grams. The 22-carat variant stands at Rs 15,866 per gram and Rs 1,58,660 per 10 grams in the domestic market.

For lower purity segments, 18-carat gold is priced at Rs 12,982 per gram and Rs 1,29,820 per 10 grams. These carat-wise differentials help buyers compare options for jewellery, investment bars, or coins. They also show how purity directly affects pricing, even when broader market forces are driving all segments higher together.

On 2 March 2026, the all-India silver rate is reported at Rs 294.90 per gram and Rs 2,94,900 per kilogram. That marks stability compared with the previous reading, even as global silver benchmarks have moved sharply during the past week, suggesting that local factors and currency swings are also guiding short-term retail quotes.

City-specific gram prices underline these variations. In Noida, 24-carat gold trades at Rs 16,205 per gram, while 10 grams of 24-carat gold cost Rs 1,61,900. Mumbai’s gram rate for 24-carat gold is Rs 16,158, with 22-carat at Rs 15,866 per gram and 18-carat at Rs 12,982 per gram, reflecting strong demand in the financial centre.

Chennai records one of the highest gram rates, with 24-carat gold at Rs 17,210 per gram. Here, 22-carat gold sells at Rs 15,766 per gram and 18-carat at Rs 13,501 per gram. In Delhi, 24-carat gold is at Rs 17,324 per gram, while 22-carat and 18-carat gold are priced at Rs 15,881 and Rs 12,997 per gram, respectively, aligning with the city’s premium over some other regions.

Kolkata, Bengaluru, and Hyderabad show identical gram quotations in this data set. All three cities have 24-carat gold at Rs 17,309 per gram, 22-carat at Rs 15,866 per gram, and 18-carat at Rs 12,982 per gram. These matching figures indicate closely aligned pricing structures across eastern and southern markets for gram-based retail purchases.

The following table compiles the gram-wise city data for 2 March 2026, including 24K, 22K, and 18K rates, as reported in the segment titled “Check Gold Price City-Wise Today”.

Silver’s city-wise kilogram rates also show a narrow band of variation, as detailed below, with Chennai presently at the upper end of the range and Delhi and Kolkata slightly lower than the southern centres.

Overall, gold and silver prices in India are tracking global gains and heightened geopolitical risk. With Comex bullion rallying and the US-Iran and Middle East tensions unresolved, analysts expect strong investor interest in safe-haven assets, and domestic markets are likely to open the week with choppy but upwardly biased trading.