Gold Rate In India Today, March 24: 22K Gold Nosedived Nearly Rs.10K From Record Level; Check Latest Gold Rate

Gold prices in India fell once again at the start of the new trading week, as the U.S. dollar extended its gains, reaching a three-week high after a prolonged slump. The strengthening dollar has put downward pressure on gold rates in India, leading to a pullback from last week's record highs.

Last week, gold prices surged significantly, fueled by escalating geopolitical tensions in the Middle East. The situation intensified after Israel's airstrikes on Gaza, prompting investors to seek safe-haven assets like gold. While the gold rate in India has pulled back from its recent all-time high of Rs. 90,660 per 10 grams, analysts suggest that this correction presents a strong buying opportunity for investors looking to enter the market.

Gold Rate in India Today

On March 24th, the 24-carat gold prices in India declined by Rs. 160 per 10 grams to cost Rs. 89,620. While the 22-carat gold price today stands at Rs. 82,150 per 10 grams after a fall of Rs. 150. Meanwhile, the 18-carat gold slipped by Rs. 120 to retail at Rs. 67,220 per 10 grams.

Similarly, the 100 grams of 24-carat gold rates now retail at Rs. 896,200, which declined by Rs. 1,600, and the 22 carat gold rates per 100 grams now cost Rs. 8,21,500 registering a drop of Rs. 1,500.

Silver prices in India today

Silver rates in India today extended no major movements after two big falls in prices last week. Currently, 1 kg of silver costs Rs. 101,000, and 100 grams of silver cost Rs. 10,100.

Gold prices in Chennai, Bengaluru, and Hyderabad

A similar decline in gold prices across the country was seen. Below are the gold rates in the major cities of India:

10 grams of 24-carat gold prices in Chennai stand at Rs. 89,620 per 10 grams, while the 22 carat gold prices in Chennai cost Rs. 82,150 per 10 grams.

Likewise, gold rates in Bangalore for 22 carats are now at Rs. 82,150 per 10 grams, while the 24-carat gold price in Bangalore is now at Rs. 89,620 per 10 grams of yellow metal.

Gold prices in Hyderabad are also mirroring the gold rates in India today, where the price of 22 carat gold retails at Rs. 82,150 per 10 grams. A 24 carat gold retails at Rs. 87,620 per 10 grams.

MCX Gold and Silver Futures Prices Today

Currently, gold futures prices on the MCX expected to mature on April 4, 2025, are trading at Rs. 87,882, which rose by 0.12%. Silver futures, with an expiration date of May 5, 2025, traded higher at 98,463.00, jumping 0.59%.

Spot Gold Price and Spot Silver Rate

Reuters, in its latest gold market update, reported a slight decline in spot gold prices, which slipped by 0.2% to $3,016.43 per ounce as of 0302 GMT. Meanwhile, U.S. gold futures held steady at $3,020.80 per ounce. This comes after gold hit an all-time high of $3,057.21 per ounce on Thursday, marking a significant rally driven by geopolitical uncertainties, economic concerns, and rising expectations of a U.S. Federal Reserve interest rate cut. On Monday, gold prices eased slightly as the U.S. dollar strengthened, prompting some investors to pause after last week's sharp gains. In the broader precious metals market, spot silver edged up by 0.1% to $33.06 per ounce.

Gold price Outlook Ahead

As per the commodity report from the India Bullion and Jewellers Association Ltd., "Gold retreated on Friday as US stocks headed for their fifth straight week of losses, cooling a rally fueled by demand for haven assets in the face of a US-led trade war. Spot bullion fell 1% as the S&P 500 slipped on weaker-than-estimated outlooks from bellwethers across industries. Gold can see short-term setbacks from market selloffs, as investors reach for liquidity. A fresh bout of instability has gripped markets amid mounting worries over the impact of US President Donald Trump's tariffs, with another wave due to be announced on April 2. Gold has climbed 15% this year in a rally that's seen it hit 15 all-time highs in 2025, extending last year's strong gains as investors seek safety."

"Geopolitical conflicts in the Middle East and Ukraine have also bolstered the metal's appeal. US sentiment remains fragile, even as reports on Thursday showed existing home sales topped estimates, while initial jobless claims were in line with expectations-a sign of a healthy labor market. That has investors considering the path ahead for monetary easing by the Federal Reserve, after policymakers on Wednesday kept interest rates on hold and flagged projections for both slower growth and higher inflation this year. Speaking on Friday, Federal Reserve Bank of Chicago President Austan Goolsbee said the inflationary impact from tariffs could be transitory if they were limited in scope, though he added that larger levies and retaliations from other countries could create supply shocks that would force the Fed to respond."