Domestic futures prices of gold and silver declined on Monday, March 9, on the Multi Commodity Exchange (MCX), with silver falling by about ₹3,500 per kilogram while gold futures also traded lower. Market pressure was attributed to profit booking by investors and signals from international markets.
Gold and silver prices in the domestic futures market recorded declines during Monday’s trading session. Typically, investors turn to gold and silver as safe-haven assets during periods of global uncertainty and war-like conditions, which tends to push prices higher. However, trading on Monday showed the opposite trend, with prices of both precious metals moving lower.
On the Multi Commodity Exchange (MCX), both gold and silver futures registered declines. The weakness in prices was linked to profit booking by investors and cues from international markets. Market experts stated that fluctuations in these metals may continue in the coming days given ongoing global conditions.
Gold Futures Decline on MCX
Gold futures with an expiry of April 2, 2026 on MCX traded lower on Monday. At the time of reporting, gold futures had declined by approximately ₹1,139.
Gold futures opened at ₹1,60,651 per 10 grams on MCX. In the previous trading session, gold had closed at ₹1,61,634 per 10 grams, indicating weakness in prices at market opening.
At around 9:55 am, gold futures were trading near ₹1,60,495 per 10 grams, down approximately 0.70 percent. During early trade, gold touched a high level of ₹1,60,672 before prices declined again.
According to market experts, the decline in gold prices may be short term as geopolitical tensions at the international level continue to influence the market.
Sharp Fall in Silver Prices
Silver prices also recorded a significant decline on Monday alongside gold. Silver futures with an expiry of May 5, 2026 on MCX were trading lower by about 1.32 percent.
At the time of reporting, silver prices had declined by about ₹3,534 per kilogram, with silver futures trading around ₹2,64,751 per kilogram.
Silver opened Monday’s trading session at ₹2,67,497 per kilogram and touched a high level of ₹2,67,498 during the session. However, increased selling pressure in the market prevented the price rise from sustaining and silver prices moved lower.
The decline in silver prices is significant for investors who choose silver for short-term trading or investment.
Retail Silver Prices in Major Cities
In major cities such as Delhi, Mumbai and Kolkata, the retail price of silver is currently around ₹2,800 for 10 grams.
A customer purchasing 100 grams of silver would spend approximately ₹28,000. In Chennai, silver prices are slightly higher, with 10 grams priced around ₹2,900.
Silver prices vary slightly between cities due to factors such as taxes, transportation costs and local demand.
Gold Prices in Delhi
In the national capital Delhi, gold prices recorded a slight decline. The price of 24-carat gold is approximately ₹1,63,790 per 10 grams.
The price of 22-carat gold is around ₹1,50,140 per 10 grams, while 18-carat gold is approximately ₹1,22,870 per 10 grams.
Gold prices in Delhi generally remain similar to those in other major cities in the country.
Gold Prices in Mumbai
In Mumbai, gold prices remain at similar levels. The price of 24-carat gold is around ₹1,63,630 per 10 grams.
The price of 22-carat gold is approximately ₹1,49,990 per 10 grams, while 18-carat gold is around ₹1,22,720 per 10 grams.
Gold purchases in Mumbai remain significant due to the large jewellery market in the city.
Gold Prices in Chennai and Kolkata
In Chennai, the price of 24-carat gold is approximately ₹1,63,090 per 10 grams. The price of 22-carat gold is around ₹1,49,500 per 10 grams, while 18-carat gold is approximately ₹1,30,000 per 10 grams.
In Kolkata, 24-carat gold is priced at about ₹1,63,630 per 10 grams. The price of 22-carat gold is around ₹1,49,990 per 10 grams, while 18-carat gold is approximately ₹1,22,720 per 10 grams.
Latest Gold Rates in Other Cities
In Ahmedabad, the price of 24-carat gold is approximately ₹1,63,690 per 10 grams. The price of 22-carat gold is about ₹1,50,040 per 10 grams, while 18-carat gold is around ₹1,22,770 per 10 grams.
In Lucknow, 24-carat gold is priced near ₹1,61,830 per 10 grams. The price of 22-carat gold is around ₹1,48,350 per 10 grams and 18-carat gold is approximately ₹1,21,410 per 10 grams.
In Patna, 24-carat gold is selling at about ₹1,61,730 per 10 grams. The price of 22-carat gold is approximately ₹1,48,250 per 10 grams and 18-carat gold is around ₹1,21,310 per 10 grams.
In Hyderabad, the price of 24-carat gold is approximately ₹1,61,680 per 10 grams. The price of 22-carat gold is about ₹1,48,200 per 10 grams and 18-carat gold is around ₹1,21,260 per 10 grams.
