Gold price in India today, March 6: Rates fall to ₹1.62 lakh
Gold price in India today, March 6, witnessed a modest decline after the precious metal briefly surged to record highs earlier this week amid escalating tensions involving Iran, Israel and the United States.
In the domestic market, 24-carat gold is currently trading around ₹1.62 lakh per 10 grams, falling by roughly ₹1,600–₹1,700 compared to the previous session. The drop reflects a broader correction in global bullion prices after a sharp rally driven by geopolitical uncertainty.
Internationally, spot gold prices are hovering around $5,080 per ounce, retreating from the record high of over $5,400 per ounce touched earlier this week. Analysts attribute the pullback primarily to a stronger US dollar, which tends to weigh on dollar-denominated commodities like gold.
Despite the decline, market experts say geopolitical tensions in the Middle East, particularly the ongoing confrontation involving Iran, Israel, and the US, continue to support the precious metal. Gold traditionally acts as a safe-haven asset during periods of geopolitical instability and economic uncertainty, prompting investors to increase their holdings.
The surge earlier this week was largely driven by fears that the conflict could escalate further and disrupt global markets. However, after touching historic highs, investors have started booking profits, leading to the current price correction.
Domestic gold prices have mirrored global trends. Rates across major Indian cities, including Delhi, Mumbai, Chennai, and Bengaluru, have eased slightly, though they remain near record levels due to sustained demand and global uncertainty.
Gold Rate Today in Major Cities (Per Gram)
| City | 24K (₹) | 22K (₹) | 18K (₹) |
|---|---|---|---|
| Chennai | 16,494 | 15,119 | 13,038 |
| Mumbai | 16,287 | 14,929 | 12,215 |
| Delhi | 16,302 | 14,944 | 12,230 |
| Kolkata | 16,287 | 14,929 | 12,215 |
| Bangalore | 16,287 | 14,929 | 12,215 |
| Hyderabad | 16,287 | 14,929 | 12,215 |
| Kerala | 16,287 | 14,929 | 12,215 |
| Pune | 16,287 | 14,929 | 12,215 |
| Vadodara | 16,292 | 14,934 | 12,220 |
| Ahmedabad | 16,292 | 14,934 | 12,220 |
Silver rate in major cities in India today
| City | 10 Gram | 100 Gram | 1 Kg |
|---|---|---|---|
| Chennai | ₹2,949 | ₹29,490 | ₹2,94,900 |
| Mumbai | ₹2,849 | ₹28,490 | ₹2,84,900 |
| Delhi | ₹2,849 | ₹28,490 | ₹2,84,900 |
| Kolkata | ₹2,849 | ₹28,490 | ₹2,84,900 |
| Bangalore | ₹2,849 | ₹28,490 | ₹2,84,900 |
| Hyderabad | ₹2,949 | ₹29,490 | ₹2,94,900 |
| Kerala | ₹2,949 | ₹29,490 | ₹2,94,900 |
| Pune | ₹2,849 | ₹28,490 | ₹2,84,900 |
| Vadodara | ₹2,849 | ₹28,490 | ₹2,84,900 |
| Ahmedabad | ₹2,849 | ₹28,490 | ₹2,84,900 |
Market watchers say gold prices may remain highly volatile in the coming days, as investors track developments in the Middle East conflict, movements in the US dollar, and upcoming US economic data. If geopolitical tensions intensify further, analysts believe safe-haven demand could push gold prices upward again, potentially testing or even surpassing recent record highs.