Gold Prices In India Outlook On March 11: What Will Impact 24K, 22K, 18K Gold Prices On Tuesday?

Gold prices in India on Tuesday, March 11, are likely to be driven by US economic slowdown concerns after President Donald Trump didn't rule out recession risk due to his tariffs plan. The dollar index slipped to a four-month low, while the global market crashed sharply. Gold prices are likely to see further upside as they are haven against uncertainties. Upcoming inflation data will be pivotal for driving sentiment. On Monday, 24K, 22K and 18K gold prices surged, despite spot gold falling below $2,900 an ounce but staying near its record high levels.

Gold Prices In India:

24K gold price is at Rs 87,820 per 10 grams, while the prices are at Rs 80,500 and Rs 65,870 per 10 grams in 22K and 18K. The price of 1 gram of gold is currently at Rs 8,782 per gram for 24-karat gold, Rs 8,050 per gram for 22-karat gold and Rs 6,587 per gram for 18-karat gold (also called 999 gold).

Prices surged by a minimum of Rs 9 to as high as Rs 1,100 across carats on March 10.

Silver Prices In India:

Meanwhile, silver prices slipped marginally in the country. The price of silver in India stood at Rs 99 per gram down by Rs 0.10, and at Rs 99,000 per kilogram which is down by Rs 100.

MCX Gold, Silver Prices:

On the other hand, MCX gold futures erased its gains of the early session on Monday. MCX gold, with April 2025 expiry, dipped marginally to close at Rs 85,405 per 10 grams after hitting an intraday high of Rs 86,139 per 10 grams on March 10.

Also, MCX silver futures, with a May 2025 expiry, closed at Rs 96,465 per 1kg, down by Rs 736 or 0.8%. The precious metal had touched an intraday high of Rs 98,098 per 1kg.

Spot Gold Price:

Spot gold price erased its $2,900 an ounce mark, and closed at $2,885 an ounce, down by 0.91%. Trade tensions impacted the sentiment.

What To Expect In Gold Prices On Tuesday?

As per Trading Economics data, investors are closing monitoring U.S. inflation data due later this week for insights into the Federal Reserve's next moves.

Adding to the uncertainty, President Donald Trump warned that reciprocal tariffs on Canadian dairy and lumber could be imminent. This comes after the U.S. postponed 25% tariffs on various goods from Canada and Mexico for a month, while Canada's retaliatory measures remain in place and China's tariffs on select U.S. agricultural products took effect today. Further unsettling markets, Trump declined to clarify in a Fox News interview on Sunday whether the economy is heading toward a recession or rising inflation. Meanwhile, Federal Reserve Chair Jerome Powell stated on Friday that policymakers see no urgency to cut interest rates despite growing economic uncertainty, it said.

Brokerage Axis Securities said, a sharp decline of more than 3% in the U.S. Dollar Index, which is now hovering near its lowest level since November, further strengthened gold's appeal. Additionally, weaker-than-expected U.S. non-farm payroll data increased the likelihood of a Federal Reserve rate cut, providing further support to gold prices. The market focus now shifts to the upcoming CPI data, which could add to bullion price volatility.