On March 6, gold and silver prices in India displayed slight adjustments, influenced by ongoing safe-haven interest stemming from heightened geopolitical tensions involving the US, Israel, and Iran. This demand was partially offset by profit-taking at recent high levels, leading to a volatile trading session for the precious metals.
According to data from the Bullions website, the national gold rate stood at Rs 1,60,480 per 10 grams for 24-carat purity. Silver was priced at Rs 2,62,720 per kilogram. Internationally, spot gold rose modestly by $12.60, or 0.25 percent, to $5,153.91 per ounce, while spot silver edged higher to $84.11 per ounce.
City-wise variations in 24-carat gold prices per 10 grams reflected regional differences, often due to local taxes, demand patterns, and logistical factors. Southern cities generally recorded higher rates compared to northern ones.
In Mumbai, the financial hub, 24-carat gold traded at Rs 1,60,190 per 10 grams, with silver at Rs 2,62,250 per kg. Delhi saw gold at Rs 1,59,910 per 10 grams and silver at Rs 2,61,800 per kg. Chennai posted the highest among major metros for gold at Rs 1,60,660 per 10 grams, alongside silver at Rs 2,63,010 per kg. Hyderabad’s gold rate was Rs 1,60,440 per 10 grams, with silver at Rs 2,62,660 per kg. Bengaluru recorded gold at Rs 1,60,320 per 10 grams and silver at Rs 2,62,450 per kg. In Kolkata, gold stood at Rs 1,59,980 per 10 grams, while silver was Rs 2,61,900 per kg.
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Analysts, citing PTI, attributed the price dynamics to robust safe-haven buying driven by the escalating tensions in West Asia, tempered by investors locking in gains after prior rallies. These factors continue to underpin bullion’s appeal as a hedge against uncertainty, even as global markets monitor related developments closely.