Gold and Silver Prices Update for 31 March: Current Rates in Delhi, Mumbai, and Other Cities

Gold and Silver Prices Witness Slight Decline Amid Ongoing Conflict in the Middle East

On Tuesday, 31 March, the domestic futures market saw a slight decline in gold prices, with a decrease of 0.41% despite the ongoing conflict in the Middle East. The conflict has been dragging on with no signs of de-escalation, which has contributed to the volatility in global markets.

MCX Gold 2 April contracts were priced at ₹145,051 per 10 grams, while MCX Silver 5 May contracts rose by 0.03% at ₹229,033 per kg at around 10:44 am today. According to data from the Indian Bullion Association (IBA), the prices of 24-carat gold were at ₹147,510/10 gm, and 22-carat gold was priced at ₹135,218/10 gms at 10:46 am on 31 March. Silver prices today are at ₹229,690/kg (Silver 999 Fine) as per the IBA website.

The prices of gold and silver have experienced significant appreciation over the years. Notably, gold prices last year experienced their strongest bull run since 1979, rising by over 75%. In recent months, gold prices have risen modestly amid strong safe-haven demand and global economic uncertainty. In India, the yellow metal climbed from ₹135,257 in early January to ₹157,480 in early March, marking an appreciation of around 16%. Currently, it is trading below those recent highs as investors book profits.

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Comparison of Gold and Silver Prices Over the Years

Silver prices have seen even steeper increases due to strong demand and currency fluctuations.

Gold and Silver Prices in Major Cities on 31 March

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