Silver price climbed ₹2,168 to ₹2.58 lakh per kilogram in futures trade on Tuesday, snapping a four-day losing streak, driven by renewed safe-haven buying amid intensifying geopolitical tensions in West Asia.
On the Multi Commodity Exchange, the white metal for May delivery appreciated by ₹2,168, or nearly 1%, to ₹2,58,700 per kg in a business turnover of 5,995 lots.
Silver witnessed strong volatility in the intraday session, soaring by ₹6,367, or 2.5 %, to hit a high of ₹2,62,899 per kg.
2 March 2026
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Analysts attributed the rebound in silver prices to increased investor demand for safe-haven assets amid ongoing tensions in West Asia and concerns over global energy supplies.
Silver prices surged sharply by over ₹5,000 per kg as escalating tensions in the Middle East reignited safe-haven demand across global markets, Kaveri More, Commodity Analyst at Choice Broking, said.
She noted that potential disruptions to critical oil supply routes, particularly around the Strait of Hormuz, have kept investors on edge.
In the overseas market, silver futures for May delivery on the Comex in New York increased 0.68% to $81.23 per ounce, ending a four-day losing streak.
Silver prices rebounded to trade above $80 per ounce in the global markets reflecting renewed safe-haven demand after a sharp correction, Renisha Chainani, Head - Research at Augmont, said.
Echoing similar views, Jigar Trivedi, Senior Research Analyst at IndusInd Securities, said silver rose as the dollar and Treasury yields eased on lower oil prices, which helped temper inflation concerns.
Crude oil prices retreated at the start of the week following the safe passage of several tankers through the Strait of Hormuz, which helped ease immediate supply concerns.
Meanwhile, US Treasury Secretary Scott Bessent indicated that Washington is allowing Tehran to continue crude shipments through the route, while President Donald Trump is seeking international support to ensure smooth commercial activity in the waterway.
Investors are also anticipating a likely rate hold from the US Federal Reserve this week as policymakers navigate uncertainties stemming from the Iran war, Trivedi added.
"Silver's gains are further underpinned by a projected 67 million-ounce supply deficit for 2026 and strong industrial demand from the electronics sector," he said.
