Gold prices in India witnessed a marginal rise on March 31, while silver prices declined slightly, indicating a mixed trend in the domestic bullion market amid ongoing volatility.
According to market data, the price of 24-carat gold increased by ₹10, taking it to around ₹1,48,270 per 10 grams. Meanwhile, silver prices slipped by ₹100, with the metal trading near ₹2,44,900 per kilogram.
The movement reflects a cautious market environment, where prices are showing only minor fluctuations after a period of sharp swings earlier in March. Analysts note that such small changes suggest a phase of consolidation, as investors remain uncertain about the direction of global economic indicators and interest rates.
Across major cities, gold rates continue to vary slightly depending on local taxes and demand. Prices for both 22-carat and 24-carat gold remain broadly aligned across metropolitan centres like Delhi and Mumbai, with only marginal differences.
The recent trend follows a turbulent month for precious metals. Gold and silver have experienced significant corrections in March, with both metals witnessing notable declines before attempting a mild recovery.
Market experts attribute the volatility to multiple global factors, including shifting expectations around interest rates, geopolitical tensions, and fluctuations in the US dollar. Higher interest rates typically reduce the appeal of non-yielding assets like gold, while geopolitical uncertainty tends to support safe-haven demand.
Despite the recent dip, demand for gold in India remains steady, particularly from retail buyers and jewellers. Seasonal factors such as the upcoming wedding period and expectations of future price increases continue to support buying interest.
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