Gold prices in India remained largely unchanged at the start of the week, showing no major movement. 22-carat gold is currently trading below the Rs. 80,000 mark, which it had briefly crossed last week. With the U.S. dollar index weakening again, gold prices are expected to gain momentum, especially as geopolitical tensions escalate due to the delayed peace negotiations between Ukraine and Russia.
Gold rates in India Today
On 3rd March, the 22-carat gold rates in India stood at Rs. 79,400 per 10 grams with no major changes, while the 24 carat gold prices were at Rs. 86,620 per 10 grams. While the 18 carat gold rates in india also mirrored the stability and the prices stood at Rs. 64,970 per 10 grams 100 grams of 22-carat gold cost Rs. 7,94.00. While 100 grams of 24 carat gold retails at Rs. 862,200.
Silver rates in India today
Silver prices in India on 3rd March maintained stability. Silver rates in India today per kilogram cost Rs. 97,000 per kg. The price of 100 grams of silver stood at Rs. 9,700.
MCX Gold and Silver Futures Update
Gold futures prices on the Multi Commodity Exchange (MCX), expected to mature on April 4, 2025, experienced a sharp rise, trading at Rs. 84,692 after increasing 0.56%. Whereas silver future prices, with an expiry date of May 5, 2025, showed a rise during the trading session. Prices rose by 0.62% to Rs. 94,913.
International Gold and Silver Prices Update
As per a Reuters report, "Gold prices edged higher on Monday, supported by a weaker dollar and increased safe-haven demand amid ongoing geopolitical tensions and uncertainty over U.S. tariff policies. According to Reuters, spot gold rose 0.3% to $2,866.76 per ounce by 0303 GMT, while U.S. gold futures gained 1.1% to $2,880.50. Spot silver also advanced 0.5% to $31.30 per ounce."
Market Experts on Gold Prices Outlook
As per Nirmal Bang Securities, "Gold was on track on Friday for its first weekly loss of 2025 as investors booked profits from a record-breaking rally amid increasing concern over US President Donald Trump's tariff agenda, which has strengthened the greenback. Bullion traded near USD 2,840 an ounce on Friday, down for a second straight session. That's after Trump said Thursday that tariffs on Canada and Mexico were set to be implemented on March 4, and he would impose additional levies on Chinese imports. The US currency climbed, making the dollar-priced precious metal less appealing to foreign investors. The latest developments on the tariff front weighed on investor appetite and helped drive volatility higher across asset classes, thereby triggering a broad retreat among leveraged funds that are forced to reduce exposure when volatility jumps, according to Ole Hansen, head of commodities strategy at Saxo Bank A/S. The price correction in gold was "overdue" following an eight-week run of gains, he added. Traders are also digesting the latest data that showed the Fed's preferred measure of underlying inflation offered some relief after a string of reports suggested price pressures were heating up. Fed officials have indicated they need to see a meaningful easing in inflation before they begin lowering interest rates again, especially when they factor in the uncertainty around how Trump's policies will impact prices. Lower rates are positive for non-interest-bearing bullion. Bullion's first weekly decline this year has come after increasing haven demand helped push prices to a record high of $2,956.19 on Monday. Widespread uneasiness about the impact of Trump's tariffs on US inflation, trade, the global economy, and geopolitics has underscored bullion's role as a store of value in uncertain times."
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