Gold Prices In India Weekly Outlook: How Will 24K, 22K, 18K Gold Prices Perform From March 24-30

Gold prices in India continued to break new highs, recording their third weekly gains despite a strong surge in the dollar. Currently, 24K gold is at Rs 89,780 per 10 grams, while silver is priced at Rs 1,01,000 per 1kg in India. Meanwhile, at MCX, gold and silver can trade in a range of 86500-89000 and 94000-100000 respectively. In the coming week, gold prices will be influenced by upcoming RBI monetary policy, geopolitical tensions and trade war concerns.

Gold Prices In India:

24K gold price stood at Rs 89,780 per 10 grams on Sunday, March 23. While 22K and 18K gold prices were at Rs 82,300 and Rs 67,340 per 10 grams respectively. 1 gram price of gold is Rs 8,978 per gram for 24-karat gold, Rs 8,230 per gram for 22-karat gold and Rs 6,734 per gram for 18-karat gold (also called 999 gold).

So far, in March month, gold prices in India have jumped by nearly 4%.

Silver Prices In India:

1Kg silver price is at Rs 1,01,000, while 100 grams and 10 grams of silver are available at Rs 10,100 and Rs 1,010 respectively. 8-gram silver is at Rs 808, and 1-gram silver is at Rs 101. Silver prices are up by 4.1% in March.

MCX Gold, Silver Prices:

MCX gold price, with April 2025 expiry, is at Rs 87,785 per 10 grams, while MCX silver is at Rs 97,860 per 1 kg by the end of last week's trade sessions.

Spot Gold Price:

As per Trading Economics data, spot gold price declined over 1% to $3,015 an ounce on Friday, weighed down by a stronger U.S. dollar and profit-taking, yet remained on track for a third consecutive weekly gain. Despite the pullback, bullion has risen 0.7% this week, supported by persistent geopolitical tensions and expectations of U.S. Federal Reserve rate cuts.

Trading Economics data further added, that the decline was driven by the dollar's strength, which climbed to a two-week high, making gold more expensive for overseas buyers. Nonetheless, market participants continue to anticipate at least two Fed rate cuts this year, reinforcing gold's long-term bullish outlook. Additionally, escalating geopolitical risks, including renewed conflict in Gaza, have sustained investor demand for the precious metal.

Gold Prices Weekly Outlook:

In its weekly outlook report, SMC Global Securities said, gold posted its third consecutive weekly gain despite a stronger U.S. dollar, driven by the Federal Reserve's rate cut signals and safe-haven demand amid geopolitical and economic uncertainties. However, gold's upside is limited for the time being due to U.S. dollar strength.

Last week, on March 19, the Fed kept its benchmark rate steady at 4.25%-4.50% as expected. Policymakers anticipate two quarter-point cuts by year-end.

SMC's note said that the FOMC projected slower US growth and higher tariff-related inflation, raising the fear of stagflation. Fed Chair Jerome Powell highlighted that U.S. President Donald Trump's initial policies, including extensive import tariffs, have contributed to slower economic growth and temporarily higher inflation.

It added, geopolitical tensions intensified as Israel expanded its offensive in Gaza, Hamas targeted Tel Aviv, and the U.S. continued airstrikes on Houthi positions in Yemen. Meanwhile, global trade concerns are rising as markets prepare for Trump's April 2 deadline for reciprocal tariffs on nations imposing duties on U.S. goods. Gold for April delivery was last seen up US$4.00 to US$3,045.20 per ounce, rising for an eighth-straight session and sticking above the US$3,000 mark.

Amid these factors, SMC's note said, "gold has repeatedly surpassed $3,000 this year, supported by geopolitical risks and expectations of lower interest rates. On COMEX, gold must sustain above $3,000 to continue its uptrend, with resistance at $3,120 and support at $2,920. Silver is expected to trade within the $31.50-$35.50 range. In the domestic market, gold prices are likely to move between ₹86,000-₹89,400 per 10 grams, while silver may fluctuate in the ₹95,000-₹1,01,000 range. Traders will closely monitor U.S. monetary policy and geopolitical tensions for further price direction."