Gold and Silver Prices in India on 29 March 2026: Silver Sees Marginal Dip, Gold Holds Steady
Gold and silver prices in India remained largely flat on Sunday, 29 March 2026, as global cues kept markets in a wait-and-watch mode. The precious metals market continues to be influenced by geopolitical tensions involving the Israel-US-Iran conflict, elevated US Treasury yields, volatile crude oil prices, a strong US Dollar (USD), and the continued hawkish stance of the US Federal Reserve and other central banks. Despite these pressures, gold prices have shown resilience, while silver has witnessed marginal softness.
On the Multi Commodity Exchange (MCX), gold closed at ₹1,47,270 per 10 grams on Friday, marking a strong recovery of over ₹17,500 from recent lows. Meanwhile, silver settled at ₹2,27,750 per kg, declining slightly by around ₹204.
Gold and Silver Prices in Major Indian Cities on 29 March 2026
| City | Gold 24K (10g) | Gold 22K (10g) | Silver (1 kg) |
|---|---|---|---|
| Delhi | ₹1,46,780 | ₹1,34,548 | ₹2,27,560 |
| Mumbai | ₹1,47,030 | ₹1,34,778 | ₹2,27,950 |
| Kolkata | ₹1,46,840 | ₹1,34,603 | ₹2,27,650 |
| Chennai | ₹1,47,460 | ₹1,35,172 | ₹2,28,620 |
| Bengaluru | ₹1,47,150 | ₹1,34,888 | ₹2,28,130 |
| Hyderabad | ₹1,47,270 | ₹1,34,998 | ₹2,28,310 |
| Jaipur | ₹1,47,010 | ₹1,34,759 | ₹2,27,920 |
| Pune | ₹1,47,030 | ₹1,34,778 | ₹2,27,950 |
Gold Rate Analysis
Gold prices remained steady but firm, supported by safe-haven demand amid ongoing geopolitical tensions. The recent sharp recovery in gold prices indicates strong investor confidence, especially during uncertain macroeconomic conditions. However, upside momentum is being capped by higher bond yields and a strong dollar, which typically reduces the appeal of non-yielding assets like gold.
Domestic demand in India also remains stable, especially with the wedding season supporting physical buying. Investors are closely tracking global developments, particularly any escalation or de-escalation in Middle East tensions.
Silver Rate Analysis
Silver prices remained slightly subdued compared to gold, reflecting its dual role as both a precious and industrial metal. While safe-haven demand supports prices, concerns around global economic slowdown and industrial demand have limited sharp gains.
The minor decline seen in MCX silver prices suggests cautious sentiment among traders. However, any improvement in global manufacturing activity or easing geopolitical tensions could support silver prices in the near term.
Key Factors Affecting Gold and Silver Prices
- Geopolitical tensions: Ongoing conflict involving the US, Israel, and Iran continues to drive safe-haven demand
- US Treasury yields: Higher yields reduce the attractiveness of gold as a non-interest-bearing asset
- Strong US Dollar (USD): A stronger dollar makes precious metals expensive for other currency holders
- Crude oil price volatility: Impacts inflation expectations and overall commodity sentiment
- Central bank policies: Hawkish stance by global central banks, especially the US Federal Reserve, is influencing market direction
Final Thoughts
Gold and silver prices in India are moving in a complex global environment. Gold is supported by safe-haven demand, while silver shows mixed trends due to weaker industrial demand. In the near term, global events and economic indicators will drive prices.
For investors, gold remains a reliable hedge during uncertainty, while silver could offer opportunities when industrial demand picks up.
StartupTalky News