Gold, silver prices slump: Check rates in Chennai, Bangalore, Hyderabad
On the Multi Commodity Exchange (MCX), gold opened nearly 5 per cent lower, while silver fell around 6 per cent at the start of trade.
- Mar 23, 2026,
- Updated Mar 23, 2026 10:47 AM IST
Gold and silver prices declined sharply on Monday, tracking weakness in global bullion markets as escalating tensions between the US and Iran fuelled fresh inflation concerns and strengthened expectations of higher global interest rates.
On the Multi Commodity Exchange (MCX), gold opened nearly 5 per cent lower, while silver fell around 6 per cent at the start of trade. As per market data, the price of 24-carat gold slipped Rs 10 to Rs 1,45,960 per 10 grams, while 22-carat gold also declined by Rs 10 to Rs 1,33,790 per 10 grams. Silver witnessed a steeper fall, dropping Rs 100 to Rs 2,44,900 per kg.
In the international market, gold extended its losses and slipped to a nearly four-month low. Spot gold fell over 3 per cent to around $4,340 per ounce, marking its ninth consecutive session of decline. US gold futures also registered a sharp drop. Silver followed a similar trend, losing more than 3 per cent in global trade.
Gold prices in major cities (per gram):
City 24K Gold (Rs) 22K Gold (Rs) Delhi 14,611 13,394 Mumbai 14,596 13,379 Kolkata 14,596 13,379 Chennai 14,857 13,619 Bengaluru 14,596 13,379 Hyderabad 14,596 13,379
Silver prices in major cities:
City Silver (Rs per 10 gm) Silver (Rs per kg) Delhi 2,449 2,44,900 Mumbai 2,449 2,44,900 Kolkata 2,449 2,44,900 Chennai 2,499 2,49,900 Bengaluru 2,499 2,49,900 Hyderabad 2,499 2,49,900
Ponmudi R, CEO of Enrich Money, said, "The overall bias remains negative for gold and silver amid ongoing macro and geopolitical uncertainty."
VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted that the huge risk-off globally amid ongoing West Asia tensions has impacted all assets including stocks, bonds and precious metals like gold and silver. "In fact, the crash in the safe haven gold is worse than in equities," he added.
Gold and silver prices declined sharply on Monday, tracking weakness in global bullion markets as escalating tensions between the US and Iran fuelled fresh inflation concerns and strengthened expectations of higher global interest rates.
On the Multi Commodity Exchange (MCX), gold opened nearly 5 per cent lower, while silver fell around 6 per cent at the start of trade. As per market data, the price of 24-carat gold slipped Rs 10 to Rs 1,45,960 per 10 grams, while 22-carat gold also declined by Rs 10 to Rs 1,33,790 per 10 grams. Silver witnessed a steeper fall, dropping Rs 100 to Rs 2,44,900 per kg.
In the international market, gold extended its losses and slipped to a nearly four-month low. Spot gold fell over 3 per cent to around $4,340 per ounce, marking its ninth consecutive session of decline. US gold futures also registered a sharp drop. Silver followed a similar trend, losing more than 3 per cent in global trade.
Gold prices in major cities (per gram):
City 24K Gold (Rs) 22K Gold (Rs) Delhi 14,611 13,394 Mumbai 14,596 13,379 Kolkata 14,596 13,379 Chennai 14,857 13,619 Bengaluru 14,596 13,379 Hyderabad 14,596 13,379
Silver prices in major cities:
City Silver (Rs per 10 gm) Silver (Rs per kg) Delhi 2,449 2,44,900 Mumbai 2,449 2,44,900 Kolkata 2,449 2,44,900 Chennai 2,499 2,49,900 Bengaluru 2,499 2,49,900 Hyderabad 2,499 2,49,900
Ponmudi R, CEO of Enrich Money, said, "The overall bias remains negative for gold and silver amid ongoing macro and geopolitical uncertainty."
VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted that the huge risk-off globally amid ongoing West Asia tensions has impacted all assets including stocks, bonds and precious metals like gold and silver. "In fact, the crash in the safe haven gold is worse than in equities," he added.