NIFTY23,4060.33%
SENSEX74,3460.41%
BANKNIFTY54,1860.88%
NIFTY IT29,3845.57%
PHARMA24,0870.33%
AUTO26,0930.05%
FMCG48,1241.01%
METAL13,5350.17%
REALTY762.601.39%
ENERGY40,1970.02%
NIFTY23,4060.33%
SENSEX74,3460.41%
BANKNIFTY54,1860.88%
NIFTY IT29,3845.57%
PHARMA24,0870.33%
AUTO26,0930.05%
FMCG48,1241.01%
METAL13,5350.17%
REALTY762.601.39%
ENERGY40,1970.02%

Gold Prices Edge Lower in India on Firm US Dollar and Global Correction

On Friday, 13 March, the price of gold in India declined as the US dollar strengthened and global bullion markets corrected after recent gains. MCX Gold April futures fell by 0.24% to ₹1,59,885 per 10 grams around 10:26 am, while MCX Silver May contracts dropped by 0.16% to ₹2,67,537 per kg at the same time.

24-carat gold prices were at ₹1,60,600/10 gm, and 22-carat gold prices were at ₹1,47,217/10 gm at 10:30 am on 13 March, according to India Bullions data. Silver prices were at ₹2,68,800/kg (Silver 999 Fine).

Gold's Performance Over the Years

Read also: Gold and Silver Prices Decline Amid Strengthening Dollar and Inflation Concerns

Over the past 20 years, the price of gold has surged by 1,500%, delivering a compounded annual return of 15.6%, the highest among all asset classes. Gold has also multiplied investments by a remarkable 18.3 times. However, on a weekly basis, gold was headed for a fall of around 1%, marking the first time since November that it has declined for two consecutive weeks.

City-wise Gold and Silver Prices

  • Mumbai
    • 24 karat gold rate: ₹1,60,460/10 gm
    • 22 karat gold rate: ₹1,47,088/10 gm
    • MCX Gold rate: ₹1,60,100/10 gm
    • Silver bullion rate: ₹2,67,250/kg
    • MCX Silver 999 rate: ₹2,67,250/kg
  • New Delhi
    • 24 karat gold rate: ₹1,60,180/10 gm
    • 22 karat gold rate: ₹1,46,832/10 gm
    • MCX Gold rate: ₹1,60,100/10 gm
    • Silver bullion rate: ₹2,66,790/kg
    • MCX Silver 999 rate: ₹2,66,790/kg
  • Ahmedabad
    • 24 karat gold rate: ₹1,60,670/10 gm
    • 22 karat gold rate: ₹1,47,281/10 gm
    • MCX Gold rate: ₹1,60,100/10 gm
    • Silver bullion rate: ₹2,67,600/kg
    • MCX Silver 999 rate: ₹2,67,600/kg
  • Bengaluru
    • 24 karat gold rate: ₹1,60,560/10 gm
    • 22 karat gold rate: ₹1,47,180/10 gm
    • MCX Gold rate: ₹1,60,073/10 gm
    • Silver bullion rate: ₹2,67,400/kg
    • MCX Silver 999 rate: ₹2,67,400/kg
  • Kolkata
    • 24 karat gold rate: ₹1,60,220/10 gm
    • 22 karat gold rate: ₹1,46,868/10 gm
    • MCX Gold rate: ₹1,60,073/10 gm
    • Silver bullion rate: ₹2,66,840/kg
    • MCX Silver 999 rate: ₹2,66,840/kg
  • Hyderabad
    • 24 karat gold rate: ₹1,60,690/10 gm
    • 22 karat gold rate: ₹1,47,299/10 gm
    • MCX Gold rate: ₹1,60,073/10 gm
    • Silver bullion rate: ₹2,67,620/kg
    • MCX Silver 999 rate: ₹2,67,620/kg
  • Chennai
    • 24 karat gold rate: ₹1,60,900/10 gm
    • 22 karat gold rate: ₹1,47,492/10 gm
    • MCX Gold rate: ₹1,60,073/10 gm
    • Silver bullion rate: ₹2,67,970/kg
    • MCX Silver 999 rate: ₹2,67,970/kg

Investor Takeaway

Gold prices may continue to decline in the short term due to a firming US dollar.

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