Global tensions and rising uncertainty have led to another increase in gold prices, supported by higher demand for the metal as a safe haven asset. On the morning of March 12, gold prices were recorded at elevated levels across major cities in India.
In the national capital Delhi, the price of 24-carat gold reached ₹1,63,470 per 10 grams, while in Mumbai it was recorded at approximately ₹1,63,320 per 10 grams. Market experts said investors are shifting away from risk-oriented investments toward gold due to prevailing global conditions, contributing to the ongoing increase in prices.
Significant One-Day Increase in Gold Prices
In Delhi’s bullion market, gold prices recorded a notable rise on Wednesday. Within a single day, gold increased by about ₹900, or roughly 0.54 percent. Following this increase, gold prices reached approximately ₹1,65,600 per 10 grams.
Market participants said that whenever economic or political instability increases globally, investors typically seek safer options, and gold is widely regarded as a reliable investment during such conditions. As a result, demand for gold has increased in recent days, which is reflected in higher prices.
Influence of International Market Movements
Gold prices in India are influenced not only by domestic demand and supply but also significantly by international market movements. Spot gold in the international market is currently trading at around $5,189.05 per ounce.
Factors including the strength of the U.S. dollar, global economic conditions, central bank policies, and geopolitical developments influence gold prices. When international gold prices rise, the impact is also reflected in the Indian market.
Gold Prices in Delhi and Northern India
In Delhi’s bullion market, the price of 24-carat gold is approximately ₹1,63,470 per 10 grams, while 22-carat gold is around ₹1,49,860 per 10 grams. In several northern cities including Jaipur, Lucknow, and Chandigarh, gold prices remain at similar levels. In these cities, 24-carat gold is trading at around ₹1,63,470 per 10 grams and 22-carat gold at approximately ₹1,49,860 per 10 grams. Demand in these regions remains steady due to both investment purchases and wedding-season buying.
Gold Prices in Mumbai, Chennai and Kolkata
Gold prices in major metropolitan markets remain broadly aligned. In Mumbai, Chennai, and Kolkata, the price of 24-carat gold is around ₹1,63,320 per 10 grams, while 22-carat gold is approximately ₹1,49,710 per 10 grams. Demand in these cities continues to come from both jewellery purchases and investment activity. Minor price variations across cities occur due to local taxes and market demand.
Prices Remain Elevated in Pune and Bengaluru
Gold prices in large cities such as Pune and Bengaluru are also broadly in line with Mumbai levels. In these markets, 24-carat gold is priced at around ₹1,63,320 per 10 grams, while 22-carat gold is approximately ₹1,49,710 per 10 grams. Gold purchases in southern India are traditionally significant, and demand in these regions often remains elevated, which can lead to faster price movements.
Silver Prices Record Marginal Decline
While gold prices have continued to rise, silver prices have recorded a marginal decline. Market experts said investor attention is currently focused more on gold as it is considered a comparatively safer investment. Silver demand comes from both industrial and jewellery sectors, and its price movements can at times diverge from gold. Fluctuations in silver prices remain part of normal market dynamics.
