Gold Price Drops To 4-Month Low, Silver Down 3%: Check Rates In Your City

NDTV | March 23, 2026 | 02:06 PM IST | Business, World | Follow on Google News

Gold Price Drops To 4-Month Low, Silver Down 3%: Check Rates In Your City

Gold and silver prices edged lower in early trade on Monday, tracking weakness in global markets and rising uncertainty around inflation and interest rates.

Gold prices in the international market have extended losses, slipping to a nearly four-month low. Spot gold dropped over 3 per cent to around $4,340 per ounce, marking its ninth straight session of decline. US gold futures also saw a steep fall. Silver, too, mirrored the trend, losing over 3 per cent in global trade. FOLLOW LIVE UPDATES

On MCX, gold opened with a cut of 5 per cent. Silver also opened with a cut of 6 per cent. According to market data, the price of 24-carat gold slipped by Rs 10 to Rs 1,45,960 per 10 grams, while 22-carat gold also declined by Rs 10 to Rs 1,33,790 per 10 grams. Silver prices fell more sharply, dropping Rs 100 to Rs 2,44,900 per kg.

Gold, Silver Prices in Major Cities (March 23, 2026)

Silver prices stood at Rs 2,44,900 per kg in Delhi, Mumbai and Kolkata, while Chennai continued to quote higher at Rs 2,49,900 per kg.         

City-wise Snapshot (10 grams)

    Mumbai, Kolkata, Bengaluru, Hyderabad:
    •    24K gold: Rs 1,45,960
    •    22K gold: Rs 1,33,790
    Delhi:
    •    24K gold: Rs 1,46,110
    •    22K gold: Rs 1,33,940
    Chennai:
    •    24K gold: Rs 1,48,570
    •    22K gold: Rs 1,36,190

What’s Driving The Fall?

The decline in bullion prices is largely linked to global cues. A combination of factors is weighing on prices:
    •    Rising crude oil prices are fuelling inflation concerns globally
    •    Expectations of higher interest rates are reducing the appeal of gold, which does not offer returns like interest-bearing assets
    •    Stronger US dollar and bond yields are making bullion more expensive for overseas buyers
    •    Escalating tensions in Middle East, including threats around the Strait of Hormuz, are adding to market volatility

In essence, the current environment is working against gold. When interest rates stay high and the dollar strengthens, investors tend to shift away from non-yielding assets like gold and silver.

What Should Investors Watch?

The near-term direction for gold and silver will depend on:
    •    Movement in crude oil prices
    •    Signals from the US Federal Reserve on rate cuts
    •    Geopolitical developments in Middle East
    •    Trend in the US dollar and bond yields

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