Gold, Silver Prices Drop Marginally: Check Rates In Your City Today

Gold, Silver Prices Today: Gold and silver prices slipped slightly on Tuesday, even as global cues remained mixed. A weaker US dollar offered some support to bullion, but rising oil prices and ongoing tensions in the Middle East kept markets cautious.

In international trade, spot gold hovered near $5,008 per ounce, while silver dipped 0.21 per cent to $80.5 per ounce during Asian hours. Prices stayed largely steady as investors tracked developments in the Middle East conflict involving the US, Israel and Iran. The situation has raised concerns about oil supply disruptions, especially around the Strait of Hormuz.

Oil prices moved up after falling earlier, as traders weighed the release of emergency reserves against fresh threats to key energy infrastructure. At the same time, the US dollar index slipped about 0.6 per cent, which usually supports gold.

However, rising oil prices have also increased fears of inflation. This has reduced expectations that the US Federal Reserve will cut interest rates anytime soon. Lower chances of rate cuts tend to limit gains in gold and silver.

Should You Buy Gold Now?

Market experts say gold remains in a broad range. It is holding above key support levels, but strong upside will depend on whether it crosses important resistance zones. Silver, too, is moving within a defined band. While short-term volatility may continue, the overall trend remains supported by safe-haven demand due to global uncertainty.

Gold Rates In India (March 17) 

City | 24K Gold (10 gm) | 22K Gold (10 gm) | Silver (1 kg)

Delhi | Rs 1,57,560 | Rs 1,44,440 | Rs 2,69,900
Mumbai | Rs 1,57,410 | Rs 1,44,290 | Rs 2,69,900
Kolkata | Rs 1,57,410 | Rs 1,44,290 | Rs 2,69,900
Bengaluru | Rs 1,57,410 | Rs 1,44,290 | Rs 2,69,900
Hyderabad | Rs 1,57,410 | Rs 1,44,290 | Rs 2,69,900
Chennai | Rs 1,60,470 | Rs 1,47,090 | Rs 2,75,900

Silver Prices In India (March 17)

In the domestic market, silver prices declined by Rs 100 to Rs 2,69,900 per kg. Meanwhile, 24-carat gold fell by Rs 10 to Rs 1,57,410 per 10 grams. The price of 22-carat gold also dropped by Rs 10 to Rs 1,44,290 per 10 grams. Overall, prices are moving in a narrow range, with global tensions and interest rate outlook keeping traders on edge.