Gold, silver rate 29 March: Gold rebounds slightly; silver continues strong trend

Gold and silver prices in India on March 29 continue to be shaped by a combination of global market signals, domestic buying trends, and movements in the rupee. Both precious metals retain their dual significance in the Indian market—serving not only as key investment assets but also as integral components of cultural and seasonal demand, particularly during weddings and festive periods.

Gold prices have recorded a modest uptick, supported by firm international trends and lingering concerns around inflation. As of today, 24K gold (999 purity) is priced at ₹14,472 per gram, while 22K gold, widely used in jewellery, stands at ₹13,266 per gram. The incremental rise reflects steady demand alongside supportive global cues.

Prices vary slightly across major cities due to local taxes, transportation costs, and demand-supply dynamics. In Delhi, 24K gold is trading at ₹14,487 per gram and 22K at ₹13,281 per gram. Mumbai and Kolkata are largely aligned with the national average, quoting ₹14,472 for 24K and ₹13,266 for 22K gold. Chennai continues to command a premium, with 24K gold priced at ₹14,652 per gram and 22K at ₹13,431 per gram, reflecting stronger regional demand and pricing factors. 

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Silver prices, meanwhile, remain elevated and continue to attract attention from both investors and industrial users. The metal is currently priced at around ₹2,49,900 per kilogram for Silver 999, while Silver 925 is trading near ₹2,44,900 per kilogram. On a smaller scale, retail prices for Silver 999 are hovering around ₹2,399 per 10 grams across major cities including Delhi, Mumbai, Kolkata, and Chennai. Strong industrial demand, particularly from sectors like electronics and solar energy, along with global price trends, continues to underpin silver’s performance.

Gold Outlook

Gold is entering the final days of March and the beginning of April with signs of stabilisation after a recent phase of sharp correction. The metal has posted gains over the last couple of trading sessions, suggesting that near-term sentiment is improving and buyers are gradually returning to the market.

That said, volatility remains a key theme. Earlier this year, gold prices had surged to elevated levels before undergoing a steep pullback — even as geopolitical tensions in West Asia intensified. In a departure from typical safe-haven behaviour, gold initially declined during the early stages of the conflict, before regaining traction as uncertainty persisted.

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The current recovery is being influenced by a mix of macro factors. Ongoing geopolitical tensions have revived safe-haven demand, while cautious investor sentiment continues to dominate global markets. Additionally, reports of Russia selling gold from its central bank reserves—an uncommon development—have introduced fresh supply-side considerations into the market.

Globally, spot gold is trading near $4,489 per ounce, supported by a weaker US dollar and renewed buying interest. Looking ahead, domestic gold prices are expected to remain volatile but with a mild upward bias. The trajectory will largely depend on external variables such as US dollar movements, interest rate expectations, and further geopolitical developments.