Gold Silver Prices India: Precious metal prices witnessed a sharp decline at the start of the week, surprising many investors who expected safe-haven assets like gold and silver to rise amid market volatility. On Monday, March 9, 2026, both gold and silver prices slipped significantly on the Multi Commodity Exchange (MCX), even as India’s stock market faced heavy selling pressure and the rupee weakened to record lows against the US dollar.
Market analysts say the unexpected fall in bullion prices is linked to international developments, including a major trade deal involving the United States and improved strength in the Indian rupee earlier in February, according to a report by the World Gold Council.
Below is a detailed look at the latest Gold Silver Prices India, along with city-wise gold rates for different purity levels.
Sharp Fall in Gold and Silver on MCX
When trading opened on Monday morning, both gold and silver experienced notable declines. By around 10:15 AM, gold futures had dropped ₹1,361 per 10 grams on MCX. At the same time, silver recorded an even steeper fall.
| Commodity | Previous Close (Friday) | Monday Price | Change |
|---|---|---|---|
| Gold (10 grams) | ₹1,61,634 | ₹1,60,194 | ▼ ₹1,361 |
| Silver (1 kg) | ₹2,68,285 | ₹2,61,032 | ▼ ~₹7,200 |
During the early hours of trading, prices remained volatile with frequent fluctuations. Silver was trading near ₹2,61,032 per kilogram, marking a significant decline compared with Friday’s closing price of ₹2,68,285 per kilogram.
Such movements in bullion markets often reflect global economic signals, currency fluctuations, and investor sentiment toward safe-haven assets.
Market Turmoil: Stocks Crash, Rupee Weakens
Interestingly, the decline in bullion prices came at a time when other financial markets in India were facing turbulence. At the start of the week:
- The stock market saw a sharp crash, triggering panic selling among investors.
- The Indian rupee slipped beyond 92 against the US dollar, touching record low levels.
Traditionally, gold and silver tend to gain when equities decline because investors shift toward safer assets. However, domestic factors and global developments prevented such a rally this time, leading instead to a drop in prices across commodity markets.
Experts suggest that the recent international trade developments involving the United States and earlier strengthening of the rupee contributed to the correction in bullion prices.
Latest 24 Carat Gold Price in Major Indian Cities
Despite the fall in MCX futures, retail gold rates varied slightly across major cities on Monday. The price difference is mainly due to local taxes, transportation costs, and demand in regional markets.
| City | 24 Carat Gold Price (10 grams) |
|---|---|
| Chennai | ₹1,63,090 |
| Kolkata | ₹1,63,630 |
| Mumbai | ₹1,61,680 |
| Delhi | ₹1,61,830 |
| Bengaluru | ₹1,61,700 |
| Hyderabad | ₹1,61,750 |
| Kerala | ₹1,61,720 |
| Pune | ₹1,61,700 |
Chennai and Kolkata recorded slightly higher prices compared to other metro cities. Meanwhile, markets such as Mumbai, Delhi, Bengaluru, Hyderabad, Kerala, and Pune remained within a narrow price range of ₹1,61,680 to ₹1,61,830 per 10 grams.
This modest difference highlights how gold pricing across India remains closely aligned despite regional variations.
22 Carat Gold Price Today
22-carat gold, widely used in jewellery making across India, also showed minor variations between cities.
| City | 22 Carat Gold Price (10 grams) |
|---|---|
| Chennai | ₹1,49,500 |
| Delhi | ₹1,48,350 |
| Mumbai | ₹1,48,200 |
| Kolkata | ₹1,48,200 |
| Bengaluru | ₹1,48,200 |
| Hyderabad | ₹1,48,200 |
| Kerala | ₹1,48,200 |
| Pune | ₹1,48,200 |
| Ahmedabad | ₹1,48,250 |
| Vadodara | ₹1,48,250 |
Among the major markets, Chennai recorded the highest rate at around ₹1,49,500 per 10 grams. Cities such as Mumbai, Kolkata, Bengaluru, Hyderabad, Kerala, and Pune reported prices near ₹1,48,200.
In western India, including Ahmedabad and Vadodara, the rate stood close to ₹1,48,250 per 10 grams, showing a slight premium compared with some other cities.
18 Carat Gold Price Today
18-carat gold is another popular option, particularly for modern jewellery designs. The latest rates also show a similar pattern of minor variations between cities.
| City | 18 Carat Gold Price (10 grams) |
|---|---|
| Chennai | ₹1,30,000 |
| Mumbai | ₹1,21,260 |
| Kolkata | ₹1,21,300 |
| Bengaluru | ₹1,21,300 |
| Hyderabad | ₹1,21,300 |
| Kerala | ₹1,21,350 |
| Pune | ₹1,21,410 |
| Ahmedabad | ₹1,21,310 |
| Vadodara | ₹1,21,310 |
Chennai again recorded higher prices at around ₹1,30,000 per 10 grams, while most other major cities remained in the range of ₹1,21,260 to ₹1,21,410.
What Analysts Expect Next for Gold Prices
Market experts believe the recent fall in bullion prices may not last long if global uncertainties continue. International factors such as geopolitical tensions, currency volatility, and economic policy changes often influence the direction of precious metal prices.
According to analysts, strong global demand and ongoing uncertainty in financial markets could support gold prices in the coming weeks. If geopolitical tensions or economic instability intensify, gold may again attract investors looking for a safe-haven asset.
At the same time, domestic demand for jewellery—especially during festivals and wedding seasons—also plays a crucial role in determining Gold Silver Prices India.
Bottom Line
The latest market session brought an unexpected decline in precious metals, with silver dropping by nearly ₹7,200 per kilogram and gold slipping by over ₹1,300 per 10 grams on MCX. Despite market volatility and a weakening rupee, bullion prices moved downward due to global trade developments and domestic factors.
For investors and jewellery buyers, keeping a close eye on Gold Silver Prices India remains essential, as both international economic conditions and local demand can rapidly influence price trends. Analysts suggest that while short-term corrections are possible, gold could still see upward momentum if global uncertainty persists.
