Gold and Silver Prices Rise in India on 31 March 2026 Despite Market Holiday
Gold and silver prices in India remained firm on 31 March 2026, even as commodity markets stayed closed on account of Mahavir Jayanti. Despite the trading holiday, domestic bullion rates reflected an upward trend based on the previous session’s closing and global price cues. Precious metals continued to hold strength amid safe-haven demand and supportive macroeconomic signals.
Gold and Silver Prices Across Major Indian Cities on 31 March 2026
| City | Gold 24K (10g) | Gold 22K (10g) | Silver (1 kg) |
|---|---|---|---|
| Chennai | ₹1,49,130 | ₹1,36,700 | ₹2,50,000 |
| Mumbai | ₹1,49,290 | ₹1,36,850 | ₹2,50,000 |
| Delhi | ₹1,49,440 | ₹1,37,000 | ₹2,50,000 |
| Kolkata | ₹1,49,290 | ₹1,36,850 | ₹2,50,000 |
| Bangalore | ₹1,49,290 | ₹1,36,850 | ₹2,50,000 |
| Hyderabad | ₹1,49,290 | ₹1,36,850 | ₹2,50,000 |
| Kerala | ₹1,49,290 | ₹1,36,850 | ₹2,50,000 |
| Pune | ₹1,49,290 | ₹1,36,850 | ₹2,50,000 |
| Vadodara | ₹1,49,340 | ₹1,36,900 | ₹2,50,000 |
| Ahmedabad | ₹1,49,340 | ₹1,36,900 | ₹2,50,000 |
Gold Rate Analysis
Gold prices in India stayed strong on 31 March 2026. The 24-carat gold rate was ₹1,49,290 per 10 grams, up ₹1,030 from the previous day, while 22-carat gold rose to ₹1,36,850 per 10 grams, up ₹950.
Since markets were closed for Mahavir Jayanti, these rates reflect the previous session’s gains and global trends. Uncertainty in the world economy and steady investment demand kept prices high. A weaker rupee also added upward pressure. Retail demand remains stable, with jewellers seeing gradual buying ahead of the wedding season.
Silver Rate Analysis
Silver prices also rose, following gold’s trend. The metal was ₹2,50,000 per kilogram, up ₹5,000 from the previous day.
Even though domestic markets were closed, global price trends and previous session momentum supported silver. The metal benefits from both investment demand and industrial use. Silver is more volatile than gold because it serves as both an industrial and investment commodity.
Key Factors Affecting Gold and Silver Prices
- Global uncertainty: When there is tension between countries or economic instability, people prefer safer investments like gold and silver, pushing prices up.
- US dollar movement: If the US dollar weakens, gold and silver usually become more expensive globally.
- Rupee value: When the Indian rupee falls against the dollar, importing gold and silver becomes costlier, increasing prices in India.
- Inflation: Rising prices of goods and services make gold and silver more attractive as a way to protect money’s value.
- Interest rates: When interest rates are low, people invest more in gold and silver instead of savings or fixed-income options.
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