Gold, Silver rates on March 23, 2026: Check latest prices for 24K, 22K in Delhi, Mumbai, Chennai, Kolkata

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.