24Carat

Gold and silver prices rise amid global economic and geopolitical uncertainty

 

Gold prices stepped a bit higher in the early morning of March 20 as their global counterparts moved higher on the backdrop of uncertainty and expectations of interest rate cuts. According to the GoodReturns website, the price of 24-carat gold gained Rs 10 to trade at Rs 90,450 per ten grams, while 22-carat gold also gained Rs 10 at Rs 82,910 per ten grams.

 

Gold and Silver Prices in Indian Cities

 

Gold prices in Mumbai, Kolkata, Bengaluru, Hyderabad, and Chennai remained constant with gold from 24 carats fetching Rs 90,450 and that from 22 carats fetching Rs 82,910 for every ten grams. In Delhi, however, the gold prices were slightly higher, with 24-carat gold selling for Rs 90,600, while 22-carat gold fetched Rs 83,060.


Silver prices also rose, with one kilogram selling at Rs 1,05,100 in Mumbai, Delhi, and Kolkata, and the highest at Rs 1,14,100 per kilogram in Chennai.

 

Global Gold Market Reaches Record Levels

 

Gold prices in the global market shot up to a record after the US Federal Reserve signalled that it could deliver two interest rate reductions this year. Spot gold was trading at US$3,049.89 an ounce around 0210 GMT, having hit a record high of US$3,055.96 during the day.
 
US gold futures advanced 0.6 per cent to US$3,058.40. "Geopolitical tensions, a weaker US dollar, and lower interest rate expectations are driving gold," said Dick Poon, General Manager of Heraeus Metals Hong Kong Ltd. The bullion market has recorded 16 new record highs in 2025, with four of those breaking the US$3,000 mark.

Silver prices stabilised at US$33.81 per ounce, while platinum rose 0.1% to US$994.05 an ounce, and palladium rose to US$957.42 an ounce.

 

Gold and Silver Price Trends in India

 

Gold prices have increased during the last week. In Delhi, 24-carat gold was at Rs 90,623 per ten grams, an increase from Rs 89,723 the day before and Rs 88,763 last week. Chennai also reported a rise in prices to Rs 90,471 from Rs 89,571 the day before.

Silver prices also surged, with Delhi registering Rs 1,08,200 per kilogram from Rs 1,05,900 a day ago. Chennai has the maximum price of silver at Rs 1,16,800 per kilogram.

The MCX gold futures for April 2025 were at Rs 88,904 per ten grams and silver futures for July 2025 were at Rs 1,02,260 per kilogram.

Gold and Silver Prices in Major Cities

 

City 22K Gold (Rs 10/gm) 24K Gold (Rs 10/gm) Silver (Rs/Kg)
Delhi Rs 83,060 Rs 90,600 Rs 1,05,110
Mumbai Rs 82,910 Rs 90,450 Rs 1,05,110
Kolkata Rs 82,910 Rs 90,450 Rs 1,05,110
Bengaluru Rs 82,910 Rs 90,450 Rs 1,05,110
Chennai Rs 82,910 Rs 90,450 Rs 1,14,100
Hyderabad Rs 82,910 Rs 90,450 Rs 1,14,100

Indian gold and silver prices are impacted by international trends, currency fluctuations, and domestic demand. Owing to the ongoing geopolitical risks and possible US Federal Reserve rate cuts, price volatility is likely in the weeks ahead.