Gold and silver prices have seen a sharp fall in both domestic and international markets.
The drop has surprised many investors and buyers who closely track bullion prices.
On March 14 (Saturday), gold prices declined significantly in global trading.
In the US market on Friday, gold prices on the COMEX exchange fell by more than $102, showing a decline of about 2 percent.
At the same time, silver also dropped sharply and was trading at $80.64 per ounce.
Sharp Fall in Gold and Silver in Domestic Market
The impact of global price movement was also seen in India’s bullion market.
On the Multi Commodity Exchange of India (MCX), silver prices fell sharply.
By 11:30 pm on March 13, silver dropped by ₹8,683 and slipped below ₹2.60 lakh per kilogram, reaching around ₹2,59,279 per kg.
Gold was trading at around ₹1,58,400 per 10 grams in the domestic futures market.
According to the India Bullion and Jewellers Association (IBJA), the price of silver on Friday was ₹2,60,488 per kg, compared to ₹2,68,301 per kg last Thursday.
This means silver became cheaper by ₹7,813 per kg in just one day.
The fall in prices came amid rising tensions in the Middle East and instability in global markets, which affected investor sentiment.
Latest Prices of 24K, 22K and 18K Gold
Data from the India Bullion and Jewellers Association shows that 24-carat gold is currently priced at ₹1,58,399 per 10 grams.
On Thursday, the price was ₹1,60,303, which means gold fell by ₹1,904 in a single day.
Meanwhile, 22-carat gold is priced at ₹1,45,093 per 10 grams.
The price of 18-carat gold is currently ₹1,18,799 per 10 grams.
Gold Prices in Major Cities of India
Gold prices vary slightly across different cities in India due to local taxes and transportation costs.
Currently, the highest price of 24-carat gold is being recorded in Chennai, where 10 grams costs around ₹1,61,020.
In cities such as Mumbai, Kolkata, Bengaluru, Hyderabad, Pune, and across Kerala, the price is around ₹1,59,660 per 10 grams.
In Delhi, Jaipur, and Lucknow, the rate is about ₹1,59,810 per 10 grams.
Meanwhile, in Vadodara and Ahmedabad, the price stands at ₹1,59,710 per 10 grams.
For 22-carat jewellery gold, the price is ₹1,47,600 per 10 grams in Chennai, ₹1,46,350 in Mumbai, Kolkata, Bengaluru, Hyderabad, Kerala, and Pune, ₹1,46,500 in Delhi, Jaipur, and Lucknow, and ₹1,46,400 per 10 grams in Vadodara and Ahmedabad.