Mumbai: Gold prices in India have witnessed a sharp upward trajectory as geopolitical instability continues to drive investors toward safe-haven assets. According to a report by Livemint, the price of 24-carat gold reached a significant milestone on Wednesday, March 18, 2026, trading at ₹82,450 per 10 grams in major metropolitan hubs.
The surge is largely attributed to the escalating military confrontation involving the United States, Israel, and Iran. As reported by Livemint and confirmed by bullion market analysts, the uncertainty surrounding global trade routes and the threat to energy infrastructure have prompted a massive shift in capital toward bullion. In the national capital, Delhi, 22-carat gold widely used for jewelry was priced at ₹75,600 per 10 grams, reflecting a nearly 2% increase from the previous session.
In Mumbai and Kolkata, prices remained competitive yet elevated, with 24K gold hovering around ₹82,300. Market experts cited by Livemint suggest that the “fear premium” is currently the primary driver of the market, overriding traditional economic indicators like US Treasury yields or inflation data. Silver has mirrored this bullish trend, crossing the ₹98,000 per kilogram mark in Chennai and Hyderabad due to increased industrial demand and speculative buying.
The Livemint report indicates that domestic demand remains robust despite the record-high prices, as the wedding season coincides with the regional unrest. Analysts warn that while the current momentum is strong, the market remains highly sensitive to any diplomatic breakthroughs or ceasefire announcements. For now, the combination of a weakening rupee and global tension ensures that gold remains the preferred hedge for Indian households and institutional investors alike.
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