Gold prices in India fall after recent rally with 24K at Rs 16,221 per gram and silver at Rs 2,79,900 per kg on March 13, 2026
Mumbai: Gold prices in India declined on Friday, March 13, 2026, following a sharp correction in global bullion markets. The fall came after two sessions of gains, as investors reacted to a stronger US dollar, rising bond yields, and shifting expectations around interest rate cuts.
In the domestic market, 24-karat gold was trading at around Rs 16,221 per gram, while 22-karat gold stood at approximately Rs 14,869 per gram. Gold prices in India are typically influenced by international bullion trends, currency movements, and seasonal jewellery demand, particularly during weddings and festive periods.
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| City | 24K gold (per gram) | 22K gold (per gram) |
|---|---|---|
| Delhi | Rs 16,236 | Rs 14,884 |
| Mumbai | Rs 16,221 | Rs 14,869 |
| Kolkata | Rs 16,221 | Rs 14,869 |
| Chennai | Rs 16,330 | Rs 14,969 |
City-wise prices also reflected slight variations. In Delhi, 24K gold was priced at about Rs 16,236 per gram and 22K gold at Rs 14,884 per gram. In Mumbai and Kolkata, the rates were largely similar to the national average, with 24K gold at Rs 16,221 per gram and 22K gold at Rs 14,869 per gram. Chennai reported slightly higher prices, with 24K gold at around Rs 16,330 per gram and 22K gold at Rs 14,969 per gram.
Silver prices remained relatively stable on the same day. The metal was trading at roughly Rs 2,79,900 per kilogram across the domestic market, while sterling silver (Silver 925) was quoted near Rs 2,79,000 per kilogram. The price of Silver 999 stood at about Rs 2,799 per 10 grams in major cities including Delhi, Mumbai, Kolkata and Chennai.
| City | Silver 999 price |
|---|---|
| Delhi | Rs 2,799 per 10 grams |
| Mumbai | Rs 2,799 per 10 grams |
| Kolkata | Rs 2,799 per 10 grams |
| Chennai | Rs 2,799 per 10 grams |
The decline in gold prices was also visible across different purity levels. The price of 100 grams of 24K gold dropped by about Rs 10,900 to around Rs 16,22,200, while the rate for 10 grams fell by Rs 1,090 to about Rs 1,62,220. Similarly, 22K gold saw a drop of about Rs 1,000 per 10 grams, bringing its price to roughly Rs 1,48,700.
Prices of 18K gold also moved lower. The rate for 10 grams declined by around Rs 810 to about Rs 1,21,670, reflecting the broader correction in domestic bullion prices.
In the futures market, gold contracts on the Multi Commodity Exchange (MCX) for April 2026 delivery were trading slightly lower. At the time of reporting, MCX gold was hovering around Rs 1,60,271 per 10 grams, after touching an intraday low near Rs 1,61,076.
Analysts say the recent decline in gold prices is linked to several macroeconomic factors. Rising crude oil prices, which moved above $100 per barrel amid escalating tensions between the United States and Iran, have raised inflation concerns globally. At the same time, stronger Treasury yields and a firm US dollar have reduced expectations of multiple interest rate cuts by the US Federal Reserve this year.
According to bullion market experts, geopolitical tensions in the Middle East are still supporting safe-haven demand for gold. However, the stronger dollar and higher yields are limiting the metal’s upside in the near term.
Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions Ltd and President of the India Bullion and Jewellers Association, said gold markets are currently moving with caution as investors balance geopolitical risks with global macroeconomic pressures. He noted that safe-haven demand continues to support bullion, but gains remain capped due to the stronger US currency and elevated Treasury yields, which increase the opportunity cost of holding non-yielding assets such as gold.
Published: 13 Mar 2026, 07:25 am IST
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