Gold Prices In India Today, 5th March; 24K /100g Gold Rates Surge Rs. 6000; Silver Steady

Gold rates in India today extended their surge for the second time this week after a correction seen on Monday. The 22 carat gold rate has surpassed the 80,000 mark per 10 grams, while the 24 carat gold rates are well above 87,000 per 10 grams. The surge in gold rates is majorly due to investor concerns over the potential impact of U.S. tariffs, which have increased market volatility. Additionally, the rebound in the U.S. Treasury yield and a stronger U.S. dollar have further supported gold's appeal.

Gold Prices in India Today

On Wednesday, 5th March, the 22-carat gold price in India jumped by Rs 550 per 10 grams to cost Rs. 80,650, while the 24-carat gold rates jumped by Rs. 600 to retail at Rs. 87,980 per 10 grams. Similarly, the 18-carat gold rates surged by Rs. 450 to cost Rs. 65,990.

For heavy weight quantities, 100 grams of 24-carat gold rates are now priced at Rs. 879,800 after witnessing the rise of Rs. 6000, while the 22-carat gold jumped by Rs. 5500 to cost Rs. 8,06,500. Just like that, 18-carat gold rates in India also experienced this surge, which made the yellow metal rise to Rs. 4,500 per 100 grams to retail at Rs. 6,59,900.

Silver rates in India today

Silver prices in India on Wednesday maintained stability and showed no major movements. Silver rates in India today per kilogram cost Rs. 98,000 per kg. The price of 100 grams of silver was Rs. 9,800.

Gold & Silver Price Chart 5th March 2025

MCX Gold and Silver Futures Updates

Gold futures prices on the Multi Commodity Exchange (MCX), expected to mature on April 4, 2025, saw a decline of 0.06%, trading at Rs. 85,525. Whereas silver future prices, with an expiry date of May 5, 2025, jumped this morning during the trading session. Prices rose by 0.42% to Rs. 96,662.

International Gold and Silver Prices Update

A recent Reuters report indicates that spot gold declined by 0.3% to $2,909.86 per ounce as of 0327 GMT, following a nearly 1% gain on Tuesday, while U.S. gold futures remained steady at $2,920.70. Spot silver saw minimal movement, trading at $31.93 per ounce. The report also highlighted that gold prices dipped on Wednesday, weighed down by a stronger U.S. dollar and rising Treasury yields, as investors monitored the potential impact of new U.S. tariffs.

Market Experts on Gold Price Movement

According to the ICICI Direct Daily Commodity Research Report, "Gold is expected to trade with a positive bias amid weakness in the dollar. The dollar is showing weakness on fear that the US economy is already showing a slowdown and a trade war with major trading partners will have adverse effects on economic growth, prompting the US Federal Reserve to lower interest rates. The market may start anticipating an earlier rate cut by the US Fed if data continues to show weakness in the labor market and economic instability. Additionally, demand for safe haven would go up on escalating trade tension between the US and its major trading partners. Moreover, investors will keep a close eye on a slew of economic data from the US. Weaker-than-expected economic data would support gold prices to move higher. Spot gold is likely to hold the support near the $2880 level and rise towards the $2940 level."