Gold, Silver Jump Sharply Amid Iran Conflict on March 2: Check 24K, 22K & 18K City-Wise Rates in Hyderabad, Chennai and More!

2 Mar, 2026 11:17 IST

Gold and silver prices in India rose sharply on Monday, March 2, 2026, as escalating Middle East geopolitical tensions drove investors toward safer assets amid rising global uncertainty. The uptick in precious metals reflects heightened risk-aversion following renewed conflict involving the United States, Israel and Iran, where markets reacted strongly to the deteriorating situation.

On the Indian bullion front, gold prices climbed across major cities, buoyed by safe-haven demand from traders and buyers anticipating further volatility. Similarly, silver prices jumped, with the white metal gaining significantly on the Multi Commodity Exchange of India (MCX). Analysts attribute the rally to safe-haven flows as well as technical momentum in commodity markets.

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Internationally, metals continued to benefit from rising fear premiums as investors priced in geopolitical risk, weakening risk assets and strong commodity demand. With tensions showing no immediate signs of resolution, gold and silver are expected to remain in focus for both short-term traders and long-term holders.

Gold: ₹1,73,090 per 10 grams (up from ₹1,62,490).

Silver: ₹2,94,900 per kilogram (up from ₹2,82,140).

Gold Prices Today, March 2:

City-Wise Gold Rates (per gram)

Chennai

24K: ₹17,210 22K: ₹15,776 18K: ₹13,501

Mumbai