Gold and Silver Prices in India Hold Steady at Market Close on 12 March 2026; Silver Shows Mild Intraday Volatility
Gold prices in India traded near record levels on 12 March 2026, reflecting continued investor interest in safe-haven assets amid global economic uncertainty. By the end of the trading session, 24K gold was priced around ₹16,147 per gram (₹1,61,470 per 10 grams), while 22K gold stood at approximately ₹14,801 per gram (₹1,48,014 per 10 grams) in the domestic market.
Silver prices also remained firm, although the metal showed slightly higher volatility compared to gold during the day. In most Indian cities, silver traded around ₹280 per gram or ₹2,80,000 per kilogram, with some southern markets quoting slightly higher levels due to local demand.
Overall, the bullion market sentiment remained cautious. Global gold prices hovered near $5,150 per ounce, supported by safe-haven demand, geopolitical uncertainty, and expectations around global interest rates. However, a relatively stronger US dollar limited sharp gains in precious metals during the session.
Gold and Silver Prices Today in Major Indian Cities - 12 March 2026
| City | 24K Gold (10g) | 22K Gold (10g) | Silver (1 kg) |
|---|---|---|---|
| Delhi | ₹1,61,470 | ₹1,48,014 | ₹2,80,000 |
| Mumbai | ₹1,61,470 | ₹1,48,014 | ₹2,80,000 |
| Chennai | ₹1,62,220 | ₹1,48,702 | ₹2,90,000 |
| Kolkata | ₹1,63,010 | ₹1,49,426 | ₹2,80,000 |
| Bengaluru | ₹1,63,350 | ₹1,49,738 | ₹2,80,000 |
| Hyderabad | ₹1,63,480 | ₹1,49,857 | ₹2,90,000 |
| Ahmedabad | ₹1,61,960 | ₹1,48,463 | ₹2,80,000 |
| Pune | ₹1,61,470 | ₹1,48,014 | ₹2,80,000 |
Prices may vary slightly between cities due to local taxes, transportation costs, and jewellery demand in regional markets.
Intraday Movement in Gold and Silver Prices
During the trading session on 12 March, gold prices remained largely stable with marginal fluctuations. Domestic bullion markets tracked international trends, where gold prices moved within a narrow range amid mixed global economic signals.
On the Multi Commodity Exchange (MCX), gold contracts showed limited movement as investors balanced safe-haven demand with currency dynamics. A stronger US dollar tends to make gold more expensive for international buyers, often restricting upward momentum.
Silver prices showed slightly higher volatility during the day. Industrial demand expectations and movements in global commodity markets contributed to intraday swings in the metal.
Gold Rate Analysis
Gold prices in India showed minimal movement compared to the previous trading day. The price of 24K gold remained around ₹16,147 per gram, indicating a relatively stable trend in the domestic bullion market.
Over the past week, gold has maintained a firm upward trajectory. The metal continues to trade near historic highs, supported by global uncertainties and strong investment demand. Investors often turn to gold as a hedge during periods of geopolitical tension or financial market volatility.
However, the sharp rise in gold prices has begun to impact physical demand in India. Some retail buyers are postponing purchases due to affordability concerns. Despite this, the ongoing wedding season and traditional jewellery demand continue to provide support to the domestic gold market.
Silver Rate Analysis
Silver prices in India traded near ₹2.80 lakh per kilogram on 12 March, with some markets such as Chennai and Hyderabad quoting around ₹2.90 lakh per kg. Compared to the previous day, silver prices saw mild fluctuations but remained broadly stable.
Silver typically moves in line with gold but tends to experience greater volatility. This is because the metal has both investment and industrial demand drivers.
Industries such as electronics, solar energy, electric vehicles, and manufacturing rely heavily on silver, which can influence global price trends. As industrial demand expectations fluctuate, silver prices often react more sharply than gold.
Factors Influencing Gold and Silver Prices Today
- Middle East Geopolitical Conflict
Escalating tensions involving Iran, the US, and Israel have increased safe-haven demand for gold globally. Attacks on oil tankers and disruptions near the Strait of Hormuz have also raised energy market concerns, supporting bullion prices. - US Dollar Strength
A stronger US dollar limited sharp gains in gold today. Since gold is globally priced in dollars, a stronger currency makes the metal costlier for international buyers. - Interest Rate Expectations
Investors are watching signals from the US Federal Reserve regarding future interest rate cuts. Higher interest rates reduce the appeal of non-yielding assets like gold. - Industrial Demand for Silver
Silver prices are influenced by industrial demand from sectors such as solar energy, electronics, and electric vehicles, making the metal more volatile than gold. - Domestic Jewellery Demand in India
India’s wedding season is supporting physical gold demand. However, record-high prices have made some retail buyers cautious about new purchases.
Outlook for Gold and Silver
Looking ahead, gold and silver prices are expected to remain volatile but well supported. Investors will closely monitor global economic indicators, currency movements, and geopolitical developments that could influence safe-haven demand.
For Indian buyers and investors, key indicators to watch include MCX bullion trends, global gold prices, and the US dollar index, all of which will likely determine the direction of precious metals in the coming days.
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