On March 10, 2026, precious metal prices in India experienced a modest decline, with city-wise rates for gold and silver showing slight reductions amid global influences. A firmer US dollar, combined with evolving market views on potential Federal Reserve interest rate adjustments, exerted downward pressure on both metals. However, ongoing geopolitical uncertainties in the Middle East continued to bolster safe-haven appeal, limiting the extent of the pullback in international and domestic markets.
Internationally, spot gold was trading marginally lower near $5,141.10 per ounce, with intraday fluctuations between approximately $5,117 and $5,156. Futures contracts reflected similar sentiment, opening around $5,152 and testing levels up to $5,166 before easing. Support held near $5,100 per ounce, with resistance eyed at $5,200.
In the domestic market, benchmark 24-carat gold stood at ₹16,182 per gram, or ₹1,61,820 per 10 grams, easing by ₹10 from the previous day. Corresponding rates were ₹14,834 per gram (₹1,48,340 per 10 grams) for 22-carat and ₹12,140 per gram (₹1,21,400 per 10 grams) for 18-carat, each down by a similar margin.
ALSO READ : Silver Gold Prices Today: MCX Rates Remain Volatile As Gold Prices Shift On March 8
City-specific variations remained modest, reflecting local demand patterns, taxes, and logistics:
- In Delhi, 24-carat gold was priced at ₹1,61,820 per 10 grams and 22-carat at ₹1,48,340 per 10 grams.
- Mumbai quoted 24-carat at ₹1,61,680 and 22-carat at ₹1,48,200 per 10 grams.
- Chennai listed 24-carat higher at ₹1,63,630 per 10 grams, with 22-carat at ₹1,48,200.
- Hyderabad aligned with Mumbai at ₹1,61,680 (24-carat) and ₹1,48,200 (22-carat) per 10 grams.
Gurgaon mirrored the national benchmark, with 24-carat at ₹1,61,820 per 10 grams (down ₹10), alongside proportional drops for other purities and quantities.
Silver followed a comparable trajectory, softening to around ₹2.80 lakh per kg, down roughly ₹100 from March 9 levels. In Delhi, the metal traded at ₹279.90 per gram (or ₹2,79,900 per kg), with minor declines across weights. City-wise silver rates per kg included:
- Chennai and Hyderabad at ₹2,90,000.
- Mumbai, Delhi, and Kolkata at ₹2,79,900.
Over the month so far in Delhi, 24-carat gold has declined about 6.59% from early March highs, while silver has fallen around 5.12%. Domestic corrections were viewed by some as potential buying opportunities through various digital and traditional channels, though no new information alters the established trends.
These movements underscore the interplay between currency strength, monetary policy signals, and persistent geopolitical risks shaping precious metals pricing. (Word count: 350)