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Significant Drop in Gold and Silver Prices Today

Today marks a significant drop in gold and silver prices, with gold futures on the MCX falling by 4-6% and silver by over 6%. This decline is influenced by international market trends and a strong dollar. Major cities are seeing varying prices, with Jaipur and Delhi reflecting substantial reductions. Experts suggest this could be a buying opportunity for long-term investments, despite potential short-term volatility. Stay updated on market conditions before making any purchases.
By Narendra Chaudhary Mar 23, 2026, 11:27 IST

Market Overview


On this Monday, a notable decline in the prices of gold and silver has been observed. The futures price of gold on the Multi Commodity Exchange (MCX) has plummeted by 4-6%, while silver has seen a drop exceeding 6%. In the international market, gold is trading around $4,300-4,450 per ounce, which is clearly impacting domestic prices. Despite the ongoing tensions between Iran, Israel, and the USA in the Middle East, investors are moving away from safe-haven assets. Additionally, a strong dollar and the volatility of crude oil have contributed to this pressure.

Latest Rates (March 23, 2026, Morning-Afternoon Update)


  • 24 Carat Gold (99.9% purity): ₹14,000 to ₹14,600 per gram (approximately ₹1,40,000-1,46,000 for 10 grams) – a decrease of ₹5,000-8,000 from yesterday.


  • 22 Carat Gold (91.6% purity): ₹13,000 to ₹13,400 per gram (approximately ₹1,30,000-1,34,000 for 10 grams).


  • 18 Carat Gold: ₹10,500-11,000 per gram.


  • Silver: ₹230-245 per gram (approximately ₹2,30,000-2,45,000 for 1 kilogram) – a significant reduction of ₹10,000-14,000 per kilogram from yesterday.



Current Prices in Major Cities (24K Gold per 10 grams)


  • Jaipur (Rajasthan): ₹1,40,000-1,45,000 (slight variation among local makers).


  • Delhi: ₹1,40,020-1,46,000.


  • Mumbai: ₹1,39,000-1,45,000.


  • Chennai/Kolkata/Bengaluru: Around ₹1,40,000-1,46,000, with a slight premium in the south. (Note: These rates are compiled from GoodReturns, IBJA, MCX, and other sources. Local jewelers may charge additional making fees and GST.)



Reasons Behind the Decline


  • Internationally, gold has dropped by 2-4%, trading at $4,323-4,442 per ounce on COMEX.


  • Silver has decreased by 3-7%, trading between $64-70 per ounce.


  • A strong US dollar and a global risk-off sentiment have put pressure on precious metals.


  • From last week's highs (near January's all-time high), a correction of 10-15% is now being observed.


  • Gold futures on MCX (April 2026) are trading between ₹1,36,000-1,40,000, while silver is priced at ₹2,13,000-2,27,000 per kilogram.



Advice for Investors

Experts suggest that this decline could present a good buying opportunity, especially for those planning to invest in jewelry or long-term assets. However, short-term volatility may persist. If global tensions escalate, a recovery could be possible; otherwise, further declines below $4,200-4,300 may occur.


Update: Prices may fluctuate with live market conditions. Confirm with local jewelers or trusted apps (like GoodReturns, MCX Live) before making purchases. Today is proving to be a significant discount day for gold and silver buyers in Jaipur!