Gold Prices Extend Decline in India: Rates Fall in Delhi, Mumbai and Other Cities; Silver Also Slips

Gold Price Today: Bullion Rates Continue to Drop Across India, Silver Prices Also Decline

Gold prices in India continued their downward trend on March 16, 2026, offering some relief to buyers who have been waiting for a correction in the bullion market. The latest data from major bullion markets shows that both gold and silver prices have declined, with gold becoming noticeably cheaper over the past week.

In the national capital Delhi, the price of 24-carat gold dropped to ₹1,59,800 per 10 grams, while 22-carat gold is currently priced at ₹1,46,490 per 10 grams. Similar price movements have been observed in other major Indian cities including Mumbai, Chennai, and Kolkata, where bullion rates have also softened.

Market experts note that gold prices have declined sharply in recent days, mainly due to a stronger US dollar and uncertainty surrounding global monetary policies.

Gold Prices Drop Nearly ₹3,000 in a Week

Over the past week, 24-carat gold prices have fallen by about ₹2,990 per 10 grams, indicating a notable correction in the market. Meanwhile, 22-carat gold prices have dropped by approximately ₹3,650 during the same period.

Earlier on March 13, bullion traders in Delhi reported a significant fall in prices, with gold dropping ₹2,000 or around 1.21%, bringing the price down to ₹1,65,200 per 10 grams in the local bullion market.

The decline reflects a mix of international economic developments and investor sentiment in the global commodities market.

Why Gold Prices Are Falling

According to market analysts, several global factors are currently influencing gold prices.

One of the key drivers is the strengthening of the US dollar, which typically puts pressure on gold prices because the precious metal becomes more expensive for investors using other currencies.

Another factor is the uncertainty around global monetary policy. Central banks around the world are facing increasing inflation concerns and may maintain tighter monetary policies for a longer period. This scenario often impacts gold demand, especially among institutional investors.

Additionally, geopolitical tensions in West Asia have caused crude oil prices to rise sharply, raising fears of inflation in global markets. Higher inflation concerns can sometimes support gold demand, but in the short term, currency movements and interest rate expectations are currently dominating price trends.

In the international market, spot gold is trading at around $4,986.34 per ounce, reflecting similar volatility in global bullion prices.

Gold Rates in Major Indian Cities (March 16, 2026)

Below are the latest gold prices in some of India’s major cities:

Cities like Ahmedabad, Jaipur, Lucknow, and Bhopal are showing similar pricing patterns, with slight variations caused by local taxes and transportation costs.

Silver Prices Also See a Sharp Decline

Alongside gold, silver prices have also weakened in the domestic market.

As of March 16, silver is trading at ₹2,74,900 per kilogram, continuing the downward trend seen over the past few days. Over the last week alone, silver prices have dropped by ₹10,000 per kilogram, signaling a notable correction in the precious metals segment.

Earlier on Friday, silver prices in the Delhi bullion market fell ₹11,000 or about 3.97%, bringing the price down to ₹2,65,500 per kilogram.

In global markets, spot silver is currently trading near $80.03 per ounce, indicating similar volatility internationally.

What This Means for Buyers

The recent decline in gold and silver prices could provide an opportunity for buyers and investors planning purchases ahead of upcoming festive and wedding seasons. Lower bullion rates often encourage retail demand, particularly in India where gold plays an important cultural and investment role.

However, analysts caution that prices may remain volatile due to global economic uncertainty, currency fluctuations, and geopolitical developments.

For investors, experts recommend keeping an eye on international market trends, central bank policies, and currency movements, as these factors will likely continue to influence bullion prices in the coming weeks.