Gold prices in India remained largely stable on March 15, with slight fluctuations influenced by global market trends and geopolitical tensions. Bullion prices are closely watched by investors and jewellery buyers, especially during periods of international uncertainty.
According to market data, the price of 24-carat gold in India is around ₹15,966 per gram, while 22-carat gold is approximately ₹14,635 per gram. The price of 18-carat gold stands near ₹11,974 per gram.
When calculated per 10 grams, 24-carat gold is roughly around ₹1.58–1.59 lakh, while 22-carat gold is around ₹1.45–1.48 lakh, depending on the city and local market conditions.
Experts say the domestic bullion market has been reacting to global factors including currency movements, international gold demand and ongoing geopolitical tensions.
Gold prices in major Indian cities
Gold prices usually vary slightly across cities due to factors such as transportation costs, state taxes and local demand.
Approximate gold rates in major cities on March 15 are:
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Delhi:
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24K gold – about ₹1,59,810 per 10 grams
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22K gold – about ₹1,48,850 per 10 grams
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Mumbai:
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24K gold – about ₹1,58,400 per 10 grams
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22K gold – about ₹1,45,200 per 10 grams
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Chennai:
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24K gold – around ₹1.56–1.58 lakh per 10 grams
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22K gold – around ₹1.48 lakh per 10 grams
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Kolkata:
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Rates are similar to Mumbai and Chennai markets with minor variations.
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Jewellery markets across these cities reported stable demand, although buyers remain cautious due to high prices.
Silver prices remain unchanged
Silver prices also remained relatively stable in the domestic market. As of March 15, the price of silver in India is around ₹275 per gram, which translates to ₹2,75,000 per kilogram.
Silver prices are influenced by global industrial demand, currency fluctuations and investor sentiment in commodities markets. The metal is widely used in industries such as electronics, solar energy and jewellery manufacturing.
Factors influencing gold and silver prices
Market analysts say several factors influence daily fluctuations in gold and silver prices:
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Global geopolitical tensions, particularly in the Middle East
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Strength of the US dollar and global currency movements
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International bullion market trends
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Demand during wedding and festive seasons in India
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Interest rates and inflation expectations
When global uncertainty rises, investors often move towards gold as a safe-haven asset, which tends to push prices upward.
Demand from jewellery and investment sectors
India remains one of the world’s largest consumers of gold, driven largely by jewellery demand and investment purchases. The metal plays an important role during wedding seasons and festivals.
Jewellers say that despite high prices, customers continue to buy gold jewellery, although some buyers are shifting towards lighter ornaments or opting for digital gold and gold ETFs as alternative investment options.
Outlook for the bullion market
Experts expect gold prices to remain volatile in the coming weeks due to international developments and fluctuations in global commodity markets.
If geopolitical tensions continue and the dollar weakens, gold prices could rise further. However, stronger economic indicators and interest rate hikes in major economies may put pressure on bullion prices.
Investors are advised to monitor global market trends and currency movements before making large purchases in the precious metals market.