Gold Prices Dip in India, Silver Weakens - Check Latest City-Wise Rates (March 24)
Gold prices in India saw a dip on March 24, 2025, with a Rs 150 decline in early trade. This drop comes after a recent surge to record highs, driven by global economic uncertainty and trade concerns linked to former US President Donald Trump.
Gold and Silver Rates Across Key Cities
In Mumbai, gold was priced at Rs 89,620 per 10 grams for 22-carat and Rs 67,220 for 24-carat. Silver prices also experienced slight weakness.
On the Multi Commodity Exchange (MCX), gold futures were trading at Rs 87,738 per 10 grams, while silver futures gained 0.34%, reaching Rs 98,220 per kg.
City-Wise Gold Prices (March 24, 2025):
Silver Prices Show Marginal Weakness
Silver prices in the spot market hovered around Rs 1,00,900 per kg across major cities, reflecting slight downward movement.What Drives Gold Prices in India?
Gold prices in India fluctuate due to multiple factors, including:- Global Market Trends: International gold rates significantly impact domestic prices.
- Import Duties & Taxes: India imports most of its gold, making customs duties and local taxes key influencers.
- Currency Exchange Rates: A weaker rupee can make gold imports costlier, pushing up prices.
- Investor Sentiment: Gold remains a preferred investment, especially during economic uncertainty.
Gold has long been both a cultural symbol and a financial asset in India, with strong demand during weddings and festivals. Keeping track of price trends is essential for investors and buyers alike.