Check gold and silver prices today (March 09): What buyers and investors in India should know now

Gold and silver prices in India slipped slightly on Monday, March 9, tracking declines in global markets despite rising geopolitical tensions. Domestic rates showed minor day-to-day changes, while international precious metals prices weakened amid profit booking and broader financial market stress.

Gold prices in India today

Gold rates eased marginally across purity categories.

The price of 24-karat gold (99.9% purity) stood at ₹16,363 per gram, down ₹1 from the previous day’s ₹16,364.

For larger quantities, prices were:

• 8 grams: ₹1,30,904 (down ₹8)
• 10 grams: ₹1,63,630 (down ₹10)
• 100 grams: ₹16,36,300 (down ₹100)

22-karat gold (91.6% purity) was priced at ₹14,999 per gram, also ₹1 lower than yesterday.

• 8 grams: ₹1,19,992 (down ₹8)
• 10 grams: ₹1,49,990 (down ₹10)
• 100 grams: ₹14,99,900 (down ₹100)

Meanwhile, 18-karat gold (75% purity) was quoted at ₹12,272 per gram, a drop of ₹1 from the previous session.

• 8 grams: ₹98,176 (down ₹8)
• 10 grams: ₹1,22,720 (down ₹10)
• 100 grams: ₹12,27,200 (down ₹100)

City-wise gold prices

Gold rates varied slightly across major Indian cities:

Chennai: 24K ₹16,417 | 22K ₹15,049 | 18K ₹13,069

Mumbai: 24K ₹16,363 | 22K ₹14,999 | 18K ₹12,272

Delhi: 24K ₹16,379 | 22K ₹15,014 | 18K ₹12,287

Kolkata: 24K ₹16,363 | 22K ₹14,999 | 18K ₹12,272

Bangalore: 24K ₹16,363 | 22K ₹14,999 | 18K ₹12,272

Hyderabad: 24K ₹16,363 | 22K ₹14,999 | 18K ₹12,272

Kerala: 24K ₹16,363 | 22K ₹14,999 | 18K ₹12,272

Pune: 24K ₹16,363 | 22K ₹14,999 | 18K ₹12,272

Vadodara: 24K ₹16,369 | 22K ₹15,004 | 18K ₹12,277

Ahmedabad: 24K ₹16,369 | 22K ₹15,004 | 18K ₹12,277

Silver prices today

Silver prices also edged lower.

The metal was priced at ₹284.90 per gram and ₹2,84,900 per kilogram, reflecting a modest decline from the previous day.

Price movements included:

• 1 gram: ₹284.90 (down ₹0.10)
• 8 grams: ₹2,279.20 (down ₹0.80)
• 10 grams: ₹2,849 (down ₹1)
• 100 grams: ₹28,490 (down ₹10)
• 1 kilogram: ₹2,84,900 (down ₹100)

City-wise silver prices

Rates across major cities were as follows:

Chennai: ₹2,899 (10g) | ₹28,990 (100g) | ₹2,89,900 (1kg)

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: ₹2,899 | ₹28,990 | ₹2,89,900

Kerala: ₹2,899 | ₹28,990 | ₹2,89,900

Pune: ₹2,849 | ₹28,490 | ₹2,84,900

Vadodara: ₹2,849 | ₹28,490 | ₹2,84,900

Ahmedabad: ₹2,849 | ₹28,490 | ₹2,84,900

Why global precious metal prices slipped

International precious metal prices moved lower even as tensions escalated in the Middle East.

On the COMEX exchange, gold fell roughly 1.3% to around $5,090 per ounce, while silver dropped more than 4% per ounce. The decline reflected profit booking after a prolonged rally in gold over recent months, with investors selling holdings to cover losses in equities and other assets.

Global markets have been volatile amid the ongoing conflict involving Iran, Israel and the United States. Oil prices have surged sharply during the crisis, raising concerns about inflation and potential disruptions to energy shipments through the Strait of Hormuz.

At the same time, a stronger US dollar and rising US Treasury yields have weighed on precious metals. When the dollar strengthens, gold becomes more expensive for buyers using other currencies, often reducing demand.

Market reactions during the conflict

Financial markets reacted sharply when coordinated US and Israeli strikes hit Iran on February 28.

Gold initially rose about 2.15% and silver climbed 1.63%, but the rally proved short-lived. Traders had expected a much stronger surge, with some speculating that gold in India could approach ₹2 lakh per 10 grams, a level that has not been reached.

Demand for bullion briefly spiked during the early stages of the conflict, with many investors shifting funds away from equities and into perceived safer assets such as precious metals and fixed-income products. Transactions in gold and silver mutual funds also increased significantly during the initial uncertainty.

However, the momentum faded as markets adjusted and some investors moved funds toward oil markets, where prices were rising rapidly due to supply concerns.