Gold prices have cooled this Saturday, 8th March, which falls on International Women’s Day and in the festive month preceding Holi. Gold prices have eroded considerably. Gold prices have dropped by between ₹200-300 in price. Gold in 24K, the highest quality gold available, is appraised at about ₹87,150 in major Indian cities, whereas gold in 22K commands above ₹79,800 in other parts. The price shift applies to silver, with a rate for 1 kg fluctuating around ₹99,200.
If you are thinking about going for gold or silver, this could be the best opportunity for some. Let us analyze the why behind this price fall, along with rates in some prominent cities: Delhi and Mumbai.
What Is the Situation With Declining Gold Prices?
There are fears about the economy around the world, which has led to the cautious behavior of the investors, and that is forcing the prices downward. Some of the major considerations in this case are:
- U.S. Economic Policies: Rumors of potential changes in taxation policies and critical economic numbers related to employment and unemployment are providing market instability.
- Investor Sentiment- Gold demand is weakening as investors turn their back on gold amid volatile conditions across various global markets.
- Impact of Festivals- The festivals of Holi and International Women’s Day are also playing a role in influencing the market.
Hence, all these factors we have talked about here have caused prices to drop, thus providing a good buying opportunity for buyers.
Gold Rates in Major Cities (8th March 2025)
Here’s a quick look at the current gold prices in four major Indian cities:
Gold Rates in Delhi:
- 22-carat gold: ₹80,040 per 10 grams
- 24-carat gold: ₹87,300 per 10 grams
Gold Rates in Mumbai:
- 22-carat gold: ₹79,890 per 10 grams
- 24-carat gold: ₹87,150 per 10 grams
Gold Rates in Chennai:
- 22-carat gold: ₹79,950 per 10 grams
- 24-carat gold: ₹87,200 per 10 grams
Gold Rates in Kolkata:
- 22-carat gold: ₹79,920 per 10 grams
- 24-carat gold: ₹87,180 per 10 grams