Gold prices continued their downward trend on March 13, slipping below ₹1.6 lakh on MCX. Geopolitical concerns and reduced rate cut hopes influenced the market.
| Purity | Per Gram | Per 10g | Change |
|---|---|---|---|
| 24K Gold | ₹16,069INR | ₹1,60,690 | ↓ ₹153 |
| 22K Gold | ₹14,730 | ₹1,47,300 | ↓ ₹140 |
| 18K Gold | ₹12,052 | ₹1,20,520 | — |
Source: GoldMeter.in • Historical data for reference only
Indian gold prices extended their decline on Friday, March 13, 2026, with the precious metal slipping below the crucial ₹1.6 lakh per 10 grams mark on the Multi Commodity Exchange (MCX). This downturn marks a significant pause in the recent bullion rally, leaving investors and jewelry shoppers to ponder the market's immediate future. Silver, too, experienced a substantial fall, mirroring gold's bearish trend.
Today's trading saw gold futures on MCX fall to around ₹1.56 lakh, reflecting a slide of up to 4 per cent from recent highs. This puts gold on track for its second consecutive weekly loss, a trend echoed in the international market where prices remained below $5,200. Silver also bore the brunt of the selling pressure, witnessing a sharp decline to trade near ₹2.65 lakh per kilogram on MCX, with global prices for the white metal crashing to $83.
Several factors contributed to this bearish sentiment. A key driver was the growing expectation of reduced interest rate cuts by the US Federal Reserve, which typically strengthens the dollar and makes non-yielding assets like gold less attractive. Higher dollar values and rising bond yields further exacerbated gold's downward trajectory. Geopolitical tensions, particularly the ongoing Israel-Iran conflict, also played a complex role. While such conflicts often boost gold as a safe haven, the current situation, coupled with rising crude oil prices, seems to be driving broader market uncertainty, leading to profit-taking in bullion. Investors are keenly awaiting further cues from the Fed regarding its monetary policy.
With gold prices dipping below ₹1.6 lakh, many potential buyers and investors are questioning if this presents a buying opportunity. Experts like Sachin Jain from the World Gold Council are weighing in on whether gold's recent rally can continue. While the current slide offers a chance for some to enter the market at lower levels, the outlook remains cautious given the interplay of global economic signals and geopolitical developments. For jewelry shoppers, checking city-specific rates for 18K, 22K, and 24K gold in Delhi, Mumbai, Chennai, and other major cities remains crucial to make informed purchasing decisions amidst these fluctuating prices.