Silver prices surged sharply on Friday, rising over 3% in futures trade amid mounting US-Iran tensions and a slight pullback in the US dollar, boosting safe-haven demand.
Geopolitical concerns intensified as US-Iran nuclear talks were extended without meaningful progress. The deployment of US troops and the imposition of new sanctions on Iran’s oil and weapons exports further escalated market uncertainty, prompting investors to turn to precious metals like silver.
The US dollar index dipped slightly by 0.04% to 97.76, making dollar-denominated commodities more attractive for international buyers. This minor decline followed a recent rally that had pushed the dollar to a four-week high.
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According to analysts, MCX silver has strong support in the Rs 2,25,000–Rs 2,35,000 range. Maintaining levels above this zone could drive prices higher towards Rs 3,00,000–Rs 3,25,000 over the medium term.
Despite short-term fluctuations, the long-term outlook for silver remains positive, driven by geopolitical risks and steady demand trends.
Silver Prices Across Major Indian Cities on Feb 27, 2026
Delhi: Rs 285 per gram | Rs 285,000 per kg
Chennai: Rs 295 per gram | Rs 295,000 per kg
Bengaluru: Rs 285 per gram | Rs 285,000 per kg
Mumbai: Rs 285 per gram | Rs 285,000 per kg
Pune: Rs 285 per gram | Rs 285,000 per kg
Kolkata: Rs 285 per gram | Rs 285,000 per kg