Gold and silver prices witnessed a noticeable decline on March 6, 2026, offering some relief to buyers planning to purchase jewellery or invest in precious metals. According to market data, bullion rates have fallen for the second consecutive day, mainly due to profit-booking by investors and fluctuations in global markets.

Gold and silver prices in India are influenced by international trends, currency movements, and trading activity on exchanges such as the Multi Commodity Exchange of India.

Gold price today

The price of 24-carat gold has dropped by around ₹2,000 per 10 grams, bringing the current rate close to ₹1,60,000 per 10 grams. Just two days earlier, the price was around ₹1,62,000, meaning gold has become nearly ₹7,000 cheaper over the past couple of days.

Such corrections are often seen when investors book profits after sharp price rallies.

Sharp fall in silver prices

Silver prices also recorded a significant decline.

• Current silver rate: ₹2,64,000 per kg

• Previous rate: ₹2,71,000 per kg

This means silver has fallen by about ₹7,000 in a day and nearly ₹26,000 in the last two days, creating a favourable opportunity for buyers.

Why prices are falling

Market experts say several factors are behind the recent decline:

• Profit booking by investors after a strong rally

• Price corrections in global markets

• Uncertainty caused by geopolitical tensions, including developments in the Middle East

• Currency movements and international commodity trading

On March 5, gold briefly touched ₹163,142 per 10 grams on MCX before falling to around ₹161,165 later in the day. Silver also slipped from ₹274,251 to about ₹262,451 per kg during the same period.

24-Carat gold price in major Indian cities

Here are approximate 24-carat gold rates (per 10 grams) in key cities:

• Delhi – ₹1,63,030

• Mumbai – ₹1,62,880

• Kolkata – ₹1,62,880

• Chennai – ₹1,64,950

• Hyderabad – ₹1,62,880

• Bengaluru – ₹1,62,880

• Ahmedabad – ₹1,62,930

Prices may vary slightly depending on local taxes and jewellers’ charges.

22-Carat gold rates

Most jewellery in India is made using 22-carat gold. Current prices in major cities are approximately:

• Delhi – ₹1,49,450

• Mumbai / Kolkata – ₹1,49,300

• Chennai – ₹1,51,200

• Hyderabad / Bengaluru / Pune – ₹1,49,300

• Ahmedabad – ₹1,49,350

18-Carat gold and silver prices

For 18-carat gold (per 10 grams):

• Delhi – ₹1,22,310

• Mumbai / Kolkata / Hyderabad / Bengaluru / Pune – ₹1,22,160

• Chennai – ₹1,30,390

Silver is currently trading at around ₹2,64,000 per kilogram in many Indian cities, though prices in southern markets like Chennai and Madurai are slightly higher.

Global market impact

International prices also influence domestic bullion rates. In the global market:

• Gold is trading around $5,176 per ounce

• Silver is near $84 per ounce

During uncertain global conditions, investors often view precious metals as a safe-haven investment.

Price movement in 2026 so far

Despite the recent drop, gold and silver prices have risen significantly since the start of the year.

• Gold price at the beginning of 2026: about ₹1,33,000 per 10 grams

• Current price: around ₹1,60,000

This means gold has become roughly ₹26,000–₹27,000 more expensive in just two months.

Silver prices have also increased by around ₹24,000–₹27,000 per kg during the same period.

What buyers should do

Experts advise buyers to:

• Track daily bullion prices before purchasing

• Compare rates from multiple jewellers

• Consider long-term investment trends instead of short-term fluctuations

Price corrections like the current one can sometimes offer good buying opportunities, especially for jewellery purchases or long-term investors.