Gold Silver Rate Today, 31 March 2026: City-Wise Prices, MCX Trend As Gold Rises And Silver Slips

This article examines gold and silver price movements on 31 March 2026, highlighting global and Indian dynamics. It covers international spot levels, domestic rates, city variations, and factors like the US dollar, Federal Reserve expectations, and West Asia tensions that influence bullion sentiment and consumer prices in India.

Gold and silver prices move in different directions on 31 March 2026, as the month ends with volatile trading. Gold edges higher globally and in India, while silver extends its fall. A firm US dollar, shifting US Federal Reserve expectations and geopolitical tensions in West Asia continue to drive sentiment.

International spot gold trades near $4,472.50 per ounce, up around 0.12% for the day. Indian retail markets mirror this mild strength, with domestic gold gaining about ₹140 per 10 grams. At the same time, spot silver hovers close to $66.90 per ounce, slipping roughly 2.45%, and pulling local prices lower.

Gold Price Today: international and domestic overview

Global gold prices stay range-bound, caught between safe-haven demand and the strong US dollar. Persistent tension in West Asia keeps investors cautious and supports bullion. However, the rising dollar limits gains, making gold costlier for buyers using other currencies and encouraging some profit booking after March’s swings.

In India, benchmark 24K gold averages about ₹1.48 lakh per 10 grams on 31 March 2026. The daily move is modest, with a rise of ₹140 per 10 grams. The domestic advance reflects both the slight global uptick and currency effects, as traders adjust positions before the new month.

Standard retail prices for gold jewellery include more than the basic bullion value. Buyers usually pay a 3% GST on gold value, plus making charges that often vary between 5% and 35%. These costs depend on brand, design complexity and location, so final bills at jewellers differ from headline rates.

Gold Price Today: domestic rate card and Delhi market

Across India, benchmark wholesale quotes for different gold purities on 31 March 2026 are as follows. These rates exclude GST, making charges and any local levies. They serve as a base for jewellers across the country when setting retail prices for coins, bars and jewellery articles.

Delhi, one of India’s largest bullion hubs, shows marginal intraday gains. For 24K gold, prices have increased by just ₹1 per gram compared with 30 March 2026. The moves highlight a steady but cautious pattern, with traders watching global cues and domestic demand ahead of any festive or wedding buying.

Lower purity categories in Delhi show similar tiny increases, broadly mirroring 24K movements. The proportional changes for 22K and 18K gold keep the premium between purities intact. This alignment indicates that pricing remains formula-driven, based on international spot rates, import costs and local market competition.

Gold Price Today: major city snapshots and recent trend

Price levels vary slightly across major Indian cities due to freight, local taxes and demand. Chennai maintains a noticeable premium on 24K gold compared with other metros. Meanwhile, Mumbai, Bangalore and Hyderabad display identical quotes, which suggests strong national alignment in wholesale benchmark pricing.

For 1-gram reference rates, Chennai again tops the list, especially for 24K gold. Many other centres, including Mumbai, Kolkata, Hyderabad and Kerala, show matching quotes. Small differences appear in cities like Vadodara and Ahmedabad, where rates are just a few rupees higher per gram.

Delhi’s gold market has seen sharp swings across March 2026, not just on 31 March. Prices peaked on 1 March and later hit the monthly low on 24 March. The last week shows some recovery from that trough, though values remain far below the first day’s record level.

Gold Price Today: March 2026 summary and outlook factors

Across March 2026, gold prices experienced strong volatility, both in rupee and dollar terms. In India, 24K prices fell about 14.3% from the all-time high of ₹1,73,090 per 10 grams seen on 1 March. The month’s bottom, ₹1,42,910 per 10 grams, was registered on 24 March.

Three broad themes shaped gold during March 2026. A strong US dollar weighed on bullion, pushing international prices down from earlier peaks. At the same time, geopolitical risks in West Asia steadied demand, while changing expectations for Federal Reserve rate cuts added further instability.

Technical traders are watching nearby support and resistance on international charts. Analysts highlight support close to $4,400 per ounce, which recently limited deeper declines. On the upside, resistance sits near $4,550 per ounce, and any softening in the dollar could nudge prices toward that band.

Silver Price Today: global trend and Indian market reaction

Silver has a weaker tone on 31 March 2026 compared with gold’s mild gains. International spot silver changes hands around $66.90 per ounce, down nearly $1.68 or 2.45% for the day. The drop follows a recent pattern, as traders factor in currency strength and macroeconomic uncertainty.

Domestic silver prices echo the overseas sell-off, with Indian wholesale rates slipping considerably. On 31 March 2026, the national average for silver 999 purity is reported close to ₹2,42,400 per kg. That means a sharp daily decline of about ₹2,500 per kg from the previous quoted level.

Global investors are waiting for upcoming US economic indicators, which could shift silver sentiment. Data on US private payrolls and manufacturing activity will guide expectations for Federal Reserve policy. A stronger economy may keep the dollar firm, pressuring silver, while any disappointment could support a rebound.

Silver Price Today: Delhi, city rates and March performance

Delhi silver benchmarks show relatively small intraday moves, despite the broader downtrend this month. The latest quotes list 1 gram at ₹244.90, down by ₹0.10 from 30 March 2026. For 1 kg, prices stand at ₹2,44,900, reflecting a ₹100 decline compared with the previous day’s mark.

City-level silver prices across India are broadly aligned, though some southern markets show a premium. Mumbai, Delhi, Bangalore, Pune, Ahmedabad and Vadodara all quote about ₹2,42,400 per kg. Chennai, Hyderabad and Kerala trade higher, near ₹2,47,400 per kg, pointing to slightly stronger regional demand.

Delhi silver has also seen large price swings during March 2026, similar to gold. The month’s low of ₹2,30,000 per kg appeared on 23 March, while the high of ₹2,50,000 was recorded on 26 and 25 March. End-month values sit closer to the lower band.

Silver Price Today: March 2026 summary, MCX trend and outlook

Over March 2026, silver has undergone a sizeable correction from early peaks. Prices dropped from levels above ₹3.15 lakh per kg at the start of the month to about ₹2,44,900 per kg by 31 March. This translates into a decline close to 16.98%, as per the available data.

Silver prices are feeling the same dollar pressure as gold, but with extra sensitivity. Investors also track US private payrolls and manufacturing reports, which affect industrial demand expectations. On the Multi Commodity Exchange, May silver futures hover near ₹2,24,500 per kg, showing cautious mood among traders.

Despite the recent fall, long-term industrial use offers some support for silver. Growth in green energy projects and electric mobility continues to rely heavily on the metal. Solar panels and electric vehicle components use silver, which can provide a floor for prices if investment sentiment weakens.

Gold Price Today and Silver Price Today: key points for Indian buyers

Prospective buyers in India need to account for taxes and additional costs over the base gold and silver rates. Both metals attract 3% GST on the transaction value. Jewellery or finished items also carry making charges, usually 5% to 35% for gold, and about 5% to 25% for silver articles.

Investors who want exposure without paying making charges can consider financial products. Popular avenues include Gold ETFs, Silver ETFs and digital formats offered by exchanges or platforms. These products track market prices, allow easier entry and exit, and avoid storage and purity worries linked with physical bullion.

All quoted gold and silver prices are indicative market levels and may differ from local shop quotes. Final bills at jewellers usually include GST, making charges and any city-specific fees. Readers should confirm live rates with neighbourhood jewellers or authorised dealers before executing purchases or large investment decisions.