Gold prices in India continued their downward trend on March 24, marking the fourth consecutive week of decline amid ongoing geopolitical tensions and global economic factors.
As of today, 24 karat gold is priced at ₹14,035 per gram, down by ₹294. 22 karat gold stands at ₹12,865 per gram, down by ₹270, while 18 karat gold is priced at ₹10,526 per gram, registering a drop of ₹221.
The decline in gold prices comes amid the ongoing conflict in West Asia, which began on February 28 involving the United States, Israel, and Iran. The situation has contributed to volatility in global markets.
Internationally, gold prices have also weakened. On March 23, gold fell to $4,099, its lowest level since November 24, 2025. The metal has now recorded ten consecutive days of losses, declining by over 1% on Tuesday alone.
The price decline is attributed to a stronger US dollar, rising global yields, and reduced expectations of near-term interest rate cuts by the US Federal Reserve. Higher inflation risks, supported by rising oil prices, have further strengthened the dollar, putting pressure on gold.
The blockage of the Strait of Hormuz has led to higher crude oil and fuel prices, which have indirectly affected gold and silver markets.
In India, gold prices are primarily influenced by international market trends, import duties, taxes, and currency exchange rate fluctuations.
Among different categories, 24 karat gold, known for its high purity, is mainly purchased for investment purposes. In contrast, 22 karat and 18 karat gold are widely used in jewellery manufacturing.
