Editor’s Note
A recent dip in domestic gold and silver prices, despite global strength, presents a timely opportunity for buyers. This could offer welcome relief during the ongoing wedding season.
The precious metals market has been witnessing significant volatility for some time. While global cues point towards strength, gold and silver have suddenly slipped in the domestic bullion market. This decline has created an excellent opportunity for buyers. Especially during the wedding season, this drop could provide significant relief to consumers.
According to the latest data from the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold has fallen from ₹1,55,650 per 10 grams to ₹1,52,765. This marks a decline of nearly ₹3,000. Meanwhile, 22-carat gold has slipped from ₹1,42,575 to ₹1,39,933 per 10 grams. 18-carat gold has also decreased to ₹1,14,574 per 10 grams.
It should be noted that an even larger decline was seen in silver. The price of one kilogram of silver broke by ₹16,700 to ₹2,42,433, down from the previous ₹2,59,133 per kilogram. Furthermore, this decline for the second consecutive day has intensified activity in the market. In Delhi, 24-carat gold is trading at around ₹1,55,920 per 10 grams, and in Mumbai, it is at ₹1,55,770 per 10 grams.
Interestingly, while a decline is visible in the spot market, gold and silver have maintained strength on the Multi Commodity Exchange (MCX). Gold for delivery on April 2, 2026, has reached ₹1,53,900 with a gain of 0.70%. Meanwhile, silver for delivery on March 5, 2026, is trading at ₹2,43,200, up by 2.86%. The outlook in the international market is also positive. In the global market, gold has reached $4,989 per ounce with a gain of 0.85%, and silver has risen by 2.07% to $77 per ounce.
According to experts, a slight recovery has been seen in the market after the major decline, but the ₹1,60,000 level remains a strong resistance for gold. They believe that if prices remain below ₹1,56,000, gold could slip further to ₹1,51,000. Investors’ eyes are now fixed on the US inflation (CPI) data, which will determine the future direction. For now, the decline has certainly given buyers an opportunity, but investors need to adopt a cautious strategy.