Gold Prices Slip This Week: Gold Drops ₹2,990, Silver Falls ₹10,000; Check Latest Rates in Major Indian Cities

Gold and silver prices have witnessed a noticeable decline in the domestic bullion market over the past week. Despite geopolitical tensions in the Middle East, precious metal prices in India have moved downward, influenced largely by a strong US dollar and global monetary policy uncertainty. As of March 15, gold prices have fallen significantly on a weekly basis, while silver has also recorded a sharp drop.

According to the latest market updates, the price of 24-carat gold has declined by around ₹2,990 over the last seven days. Meanwhile, the rate of 22-carat gold has dropped by approximately ₹3,650 during the same period. On March 15, the price of 24-carat gold in the national capital Delhi stands at ₹1,59,810 per 10 grams. In Mumbai, the price is slightly lower at ₹1,59,660 per 10 grams.

Gold Prices Decline in Delhi Bullion Market

In the Delhi bullion market, gold prices experienced a significant fall on Friday, March 13. The price dropped by ₹2,000, representing a decline of about 1.21 percent, bringing the rate to ₹1,65,200 per 10 grams.

Market experts attribute this drop primarily to the strengthening of the US dollar and uncertainty surrounding global interest rate policies. When the dollar becomes stronger, commodities like gold often become more expensive for international investors, leading to reduced demand and falling prices.

At the same time, escalating tensions in West Asia—particularly the ongoing conflict involving the United States, Israel, and Iran—have pushed crude oil prices higher. Rising oil prices typically increase inflationary pressures worldwide. As a result, central banks may be forced to maintain tighter monetary policies for longer periods, which can negatively impact gold prices.

In the international market, spot gold is currently trading around $5,088 per ounce, reflecting the global volatility affecting precious metals.

Gold Rates in Major Indian Cities

Gold prices vary slightly from city to city due to factors such as local taxes, transportation costs, and demand. Here are the latest rates for 22-carat and 24-carat gold in major Indian cities as of March 15:

In Delhi, the price of 24-carat gold is ₹1,59,810 per 10 grams, while 22-carat gold is priced at ₹1,46,500 per 10 grams. Meanwhile, cities like Mumbai, Chennai, and Kolkata have similar rates, with 24-carat gold priced around ₹1,59,660 per 10 grams.

In Pune and Bengaluru, gold prices are slightly higher compared to some other cities. The price of 24-carat gold in these markets is approximately ₹1,60,680 per 10 grams, while 22-carat gold is trading around ₹1,46,350 per 10 grams.

Silver Prices Also See Sharp Weekly Decline

Alongside gold, silver prices have also fallen sharply during the week. The price of silver has dropped by about ₹10,000 per kilogram over the last seven days.

As of the morning of March 15, silver is trading at approximately ₹2,75,000 per kilogram in the domestic market. On Friday, silver prices in the Delhi bullion market fell by ₹11,000, or about 3.97 percent, bringing the price down to ₹2,65,500 per kilogram.

In the international market, spot silver is currently priced at $83.14 per ounce.

It is worth noting that silver prices had surged earlier this year. In January, the precious metal crossed the ₹4,00,000 per kilogram mark, reflecting strong demand and global economic uncertainties at the time.

What Investors Should Watch Next

Market analysts suggest that precious metal prices may continue to fluctuate depending on global economic conditions, currency movements, and geopolitical developments. Investors typically turn to gold and silver as safe-haven assets during uncertain times, but strong currency movements and central bank policies can still influence short-term price trends.

For investors and buyers planning to purchase jewellery or invest in bullion, keeping an eye on international markets, inflation trends, and currency fluctuations will remain crucial in the coming weeks.