Gold, Silver rates on March 23, 2026: Check latest prices for 24K, 22K in Delhi, Mumbai, Chennai, Kolkata
On MCX, gold opened nearly 3% lower at ₹1,40,158 per 10 grams versus the previous close of ₹1,44,492 and slipped to an intraday low of ₹1,37,377, a drop of about 4.9%.
- Mar 23, 2026,
- Updated Mar 23, 2026 9:32 AM IST
Gold and silver prices in India started Monday on a weak note, mirroring losses in global bullion markets as the intensifying US-Iran conflict triggered fresh inflation worries and strengthened expectations of higher interest rates worldwide.
On MCX, gold opened nearly 3% lower at ₹1,40,158 per 10 grams versus the previous close of ₹1,44,492 and slipped to an intraday low of ₹1,37,377, a drop of about 4.9%.
Globally, gold prices fell over 2% to a near four-month low, with spot gold at $4,372.86 per ounce, down 2.5% for the ninth straight session, while April US gold futures declined 4.4% to $4,375.60. Spot silver also dropped 3.2% to $65.61 per ounce.
As per the latest retail market rates, 24-carat gold is trading around ₹14,154/1gram, while 22-carat gold is priced near ₹13,480/1gram. Silver prices are hovering close to ₹2,44,900 per kilogram in the domestic bullion market. Prices vary slightly across cities due to local taxes, transportation costs, and jewellers’ margins.
Gold prices in major cities (per gram) City 24K Gold (₹) 22K Gold (₹) Delhi 14,611 13,394 Mumbai 14,596 13,379 Kolkata 14,596 13,379 Chennai 14,857 13,619
It is to be noted that gold prices in India are mainly influenced by international bullion rates, rupee-dollar movement, import duty, and seasonal jewellery demand. With the wedding and festive season approaching in some regions, retail demand remains stable, preventing sharp corrections in prices.
Silver prices in major cities
Silver continues to trade at elevated levels compared to long-term averages, supported by industrial demand as well as investment buying. Unlike gold, silver prices are more sensitive to global manufacturing trends, making the metal more volatile during uncertain economic conditions.
City Silver (₹ per 10 gm) Silver (₹ 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
MCX closing prices (last trading session on March 20, 2026)
On the Multi Commodity Exchange (MCX), gold settled slightly lower at ₹1,44,492 on Friday, while physical bullion prices were around ₹1,45,520 on Sunday after the weekend pause. Silver faced heavier selling, with MCX prices falling nearly 2% to ₹2,27,470 per kg, though physical market rates were slightly higher at about ₹2,27,960.
Commodity Price (MCX) Change Gold ₹1,44,825 Slightly lower Silver ₹2,27,470/kg Down ~2%
Recent futures market data showed mild pressure on bullion, with silver witnessing a sharper correction compared to gold. Analysts say traders remain cautious ahead of global macroeconomic cues, currency movement, and geopolitical developments, which are likely to determine the next trend in precious metals.
Gold and silver prices in India started Monday on a weak note, mirroring losses in global bullion markets as the intensifying US-Iran conflict triggered fresh inflation worries and strengthened expectations of higher interest rates worldwide.
On MCX, gold opened nearly 3% lower at ₹1,40,158 per 10 grams versus the previous close of ₹1,44,492 and slipped to an intraday low of ₹1,37,377, a drop of about 4.9%.
Globally, gold prices fell over 2% to a near four-month low, with spot gold at $4,372.86 per ounce, down 2.5% for the ninth straight session, while April US gold futures declined 4.4% to $4,375.60. Spot silver also dropped 3.2% to $65.61 per ounce.
As per the latest retail market rates, 24-carat gold is trading around ₹14,154/1gram, while 22-carat gold is priced near ₹13,480/1gram. Silver prices are hovering close to ₹2,44,900 per kilogram in the domestic bullion market. Prices vary slightly across cities due to local taxes, transportation costs, and jewellers’ margins.
Gold prices in major cities (per gram) City 24K Gold (₹) 22K Gold (₹) Delhi 14,611 13,394 Mumbai 14,596 13,379 Kolkata 14,596 13,379 Chennai 14,857 13,619
It is to be noted that gold prices in India are mainly influenced by international bullion rates, rupee-dollar movement, import duty, and seasonal jewellery demand. With the wedding and festive season approaching in some regions, retail demand remains stable, preventing sharp corrections in prices.
Silver prices in major cities
Silver continues to trade at elevated levels compared to long-term averages, supported by industrial demand as well as investment buying. Unlike gold, silver prices are more sensitive to global manufacturing trends, making the metal more volatile during uncertain economic conditions.
City Silver (₹ per 10 gm) Silver (₹ 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
MCX closing prices (last trading session on March 20, 2026)
On the Multi Commodity Exchange (MCX), gold settled slightly lower at ₹1,44,492 on Friday, while physical bullion prices were around ₹1,45,520 on Sunday after the weekend pause. Silver faced heavier selling, with MCX prices falling nearly 2% to ₹2,27,470 per kg, though physical market rates were slightly higher at about ₹2,27,960.
Commodity Price (MCX) Change Gold ₹1,44,825 Slightly lower Silver ₹2,27,470/kg Down ~2%
Recent futures market data showed mild pressure on bullion, with silver witnessing a sharper correction compared to gold. Analysts say traders remain cautious ahead of global macroeconomic cues, currency movement, and geopolitical developments, which are likely to determine the next trend in precious metals.