In a week marked by restrained movement, gold and silver prices in India edged lower, reflecting limited volatility in domestic markets. Data from the India Bullion and Jewellers Association reveals that benchmark 24-carat gold shed 352 rupees, closing at 158,399 rupees for 10 grams after starting at 158,751 rupees.
Lower purity grades followed suit: 22-carat gold declined to 145,093 rupees per 10 grams from 145,416 rupees, and 18-carat variant settled at 118,799 rupees, down from 119,063 rupees. Silver prices also softened by 235 rupees to 260,488 rupees per kilogram, versus 260,723 rupees last week.
During the period, spot gold touched a weekly high of 160,303 rupees on March 12 and a low of 158,399 rupees on March 13. Silver’s highs and lows were 270,944 rupees on March 10 and 260,056 rupees on March 9, respectively.
International markets echoed this tepid sentiment, with gold at 5,061.70 dollars per ounce (previously 5,158.70 dollars) and silver at 81.343 dollars (from 84.311 dollars). The rally in the US dollar index to 100.360, a five-month peak above 100, is cited as the primary drag on precious metals.
For jewelers and investors, this week’s action underscores a market in wait-and-see mode. With global uncertainties persisting—from interest rate trajectories to geopolitical tensions—traders are bracing for sharper moves ahead. These marginal dips could signal buying opportunities for long-term holders.