Gold Silver Rate Today, 5 March, 2026: City-Wise Prices In India As MCX Gold, Silver See Profit-Taking

This article examines gold and silver price action in India as of 5 March 2026, highlighting domestic demand, MCX futures movements, currency effects and key global cues impacting prices for households, jewellers and investors.

Gold and silver prices in India move lower on 5 March 2026, even as both metals stay sharply higher for the year amid Middle East tensions, a weaker rupee and firm investment flows, leaving households, jewellers and investors tracking corrections after record highs in February and early March.

Domestic gold demand in 2026 is projected at 600-700 tonnes, following 2025’s 711-tonne consumption, which was already 11% lower as local prices jumped about 76%, while silver demand in India holds near 3,500 tonnes annually, with industrial use now contributing around 55% of total offtake.

Gold Price Today and Silver Price Today: Key spot moves and global cues

In Delhi, 24K gold trades at ₹16,466 per gram on 5 March, down ₹311 or 1.85% from the previous session, while US spot gold slips 0.47% intraday to about $5,135 per ounce, retreating from recent highs near $5,417 as investors lock in profits after a sharp safe-haven rally.

International silver prices hold around $83.27 per ounce after a 1.4% rebound, equal to roughly $2.68 per gram and $2,677 per kilogram, with year-to-date gains near 16% driven by a global supply shortfall estimated at about 1.2 billion ounces demand against 1 billion ounces supply.

Gold Price Today and Silver Price Today: Domestic MCX futures snapshot

On the Multi Commodity Exchange, April gold futures hover close to ₹1,63,000 per 10 grams after touching ₹1,63,265 intraday, which marks a 1.33% rise, while May silver futures trade near ₹2,65,318 per kilogram, easing from an intraday high of ₹2,72,248 that represented gains of 2.61% amid heavy volatility.

Market participants note that MCX contracts often guide retail prices, and the recent swings in futures, combined with rupee weakness around 85.5 against the US dollar, have amplified moves in imported bullion costs for Indian buyers, even as profit-taking sets in after February’s steep climb.

Gold Price Today and Silver Price Today: City-wise Indian gold snapshot

Across major Indian cities, gold prices track the broader downtrend, with 24K gold around ₹16,451 per gram in Mumbai, Kolkata and Bengaluru, slightly above that in Chennai at ₹16,582 per gram, where strong jewellery demand keeps a premium, while corresponding 22K and 18K quotes vary modestly by region.

In several southern markets, including Chennai, Madurai and Salem, 22K gold stands near ₹15,200 per gram and 18K around ₹13,100 per gram, whereas in western and northern centres such as Mumbai, Jaipur, Ahmedabad and Chandigarh, prevailing 22K and 18K rates cluster near ₹15,080 and ₹12,338-₹12,343 per gram respectively.

Gold Price Today and Silver Price Today: International 24K comparisons

When converted to rupees, 24K gold prices abroad show the United States near ₹1,64,510 per 10 grams, broadly in line with domestic benchmarks, while Gulf markets including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates quote equivalent values between roughly ₹1,54,000 and ₹1,56,000 per 10 grams.

Key Asian and Western hubs like Singapore, England, Canada, Australia, China, Japan, Germany and France list 24K gold at approximate rupee values ranging from about ₹1,52,800 to over ₹1,62,600 per 10 grams, with New Zealand, Nepal, Pakistan, Bangladesh, Sri Lanka and Russia also fitting within a similar band.

Gold Price Today and Silver Price Today: India’s recent gold movement

The last ten days show sharp swings in India’s 24K gold prices per 10 grams, with levels falling from ₹1,73,090 on 1 March to ₹1,64,510 by 4 March, after earlier gains during late February when quotes jumped from ₹1,61,350 on 23 February to ₹1,68,710 on 28 February.

The weekly change in Delhi’s 24K rate stands near ₹3,110 per 10 grams, equal to a 1.85% decline, while globally gold has still gained about 19% so far in 2026, following a 64% surge in 2025, supported by central bank purchases and ongoing geopolitical stress.

Gold Price Today and Silver Price Today: Drivers behind the precious metals rally

Gold and silver both rallied earlier in the year as US-Israeli strikes on Iran increased safe-haven buying, lifting gold around 19% year-to-date and silver by 16%, while crude oil also climbed and equity markets saw a 3% sell-off that redirected flows towards bullion-linked assets.

Analysts mention that escalating US-Iran tensions, worries about inflation, sustained central bank gold buying, which jumped 64% in 2025, and a rupee that has weakened about 2% against the dollar together pushed rupee-denominated bullion prices sharply higher compared with previous years.

Gold Price Today and Silver Price Today: Investment flows and demand patterns

In 2025, gold exchange-traded funds saw inflows worth roughly ₹430 billion globally, underlining the metal’s perceived role as a safe haven, and in the current year silver ETFs have attracted close to ₹50 billion, helped by expectations of continued industrial and investment demand.

India’s silver consumption stands around 3,500 tonnes a year, with solar panels and electric vehicles together accounting for about 55% of usage, and this industrial base, combined with a projected global deficit near 200 million ounces in 2026, supports views of firm long-term fundamentals despite short-term dips.

Gold Price Today and Silver Price Today: Silver prices in India and city trends

In the domestic market, silver trades at about ₹2,84,900 per kilogram in Delhi, Mumbai, Kolkata, Bengaluru, Pune, Vadodara, Ahmedabad, Jaipur, Lucknow, Chandigarh, Mangalore, Mysore, Surat and Patna, while southern centres such as Chennai, Hyderabad, Kerala, Coimbatore, Madurai, Vijayawada, Kochi, Salem, Bhubaneswar, Guntur and Visakhapatnam quote near ₹2,94,900 per kilogram.

Delhi’s granular silver prices show a tiny day-on-day decline, with 1 gram at ₹284.90, 10 grams at ₹2,849, 100 grams at ₹28,490 and 1 kilogram at ₹2,84,900, each down marginally from yesterday’s levels as profit-taking sets in after recent MCX highs.

Gold Price Today and Silver Price Today: Silver’s recent swings and MCX levels

On MCX, May silver futures now trade around ₹2,65,318 per kilogram, down ₹5,682 intraday from the session high, after recently touching ₹2,72,248, while February’s data show volumes rising roughly 30% as news from Iran encouraged speculative and hedging activity in the contract.

In Delhi, recent silver price movements show strong volatility, with the rate dropping from ₹3,15,000 per kilogram on 2 February’s peak to ₹2,55,000 at the monthly low, before closing the month at ₹2,95,000 and then sliding in early March following several large intraday moves.

Gold Price Today and Silver Price Today: Silver’s 10-day pattern in Delhi

Over the most recent ten days, Delhi silver prices per kilogram eased from ₹3,15,000 on 2 March to ₹2,84,900 by 5 March, including a flat close on 1 March at ₹2,95,000 and several sessions with unchanged values around ₹2,85,000 in late February.

Traders now watch key technical levels on MCX, with support seen around ₹2,85,000 per kilogram and resistance near ₹3,00,000, while some southern physical markets quote premiums up to ₹10,000 above standard rates because of strong local demand for bars and jewellery.

Gold Price Today and Silver Price Today: Market sentiment, ratios and related metals

The gold-silver ratio currently sits close to 85:1, which some analysts interpret as suggesting that silver remains relatively undervalued compared with gold, and other precious metals like platinum and palladium have also edged around 1% higher in response to recent geopolitical developments.

The US dollar has strengthened during the tensions, making dollar-priced bullion costlier for holders of other currencies, yet risk-off flows have continued, reflecting worries after President Donald Trump said that the US military carried out extensive strikes on Iranian naval and air assets and claimed key defences were largely disabled.

Gold Price Today and Silver Price Today: Investor strategies and allocation views

Advisers state that the recent correction in gold and silver prices offers a chance to buy on dips and hold for long-term hedging, typically suggesting that investors consider allocating about 5-10% of portfolios to precious metals while watching US Federal Reserve decisions and geopolitical headlines.

For those choosing between physical and paper formats, experts highlight that purchases in coins and jewellery attract 3% goods and services tax and possible tax collected at source, whereas exchange-traded funds and digital products remove storage issues but do not provide physical possession.

Gold Price Today and Silver Price Today: Digital and physical silver options

Indian investors now have several online platforms for accumulating silver, including Paytm Silver, Groww-Augmont, SafeGold, MMTC-PAMP and Shriram Gold, which offer features such as small-ticket systematic plans, app-based holdings, doorstep delivery, hallmarked bars and structured buyback options for customers preferring either digital units or physical bars.

Market commentators stress that silver’s price behaviour usually shows higher volatility than gold, which can boost returns in strong rallies but also deepen declines, so investors often pair positions with disciplined risk management, including stop-loss levels around the ₹2,85,000 MCX support region.

Gold Price Today and Silver Price Today: Why silver is correcting despite strong year-to-date gains

Current declines in silver are linked to profit-taking after MCX prices climbed to about ₹2,72,000 per kilogram on news of US strikes on Iran, with the Delhi spot rate now easing by ₹100 to ₹2,84,900 even though the year-to-date gain remains 16% and industrial sectors continue absorbing 55% of demand.

Analysts note that, while the immediate reaction to geopolitical shocks pushed prices higher, subsequent falls in equity markets and a short-term pullback in international silver from recent highs around $93 per ounce have encouraged some traders to trim positions, triggering the latest correction phase.

Gold Price Today and Silver Price Today: Why gold and silver rallied earlier in the year

Geopolitical stress between the United States and Iran, alongside a projected 200 million ounce silver deficit in 2026, supported both metals earlier in the year, with rupee depreciation adding to local price strength and central banks stepping up bullion purchases as part of reserve diversification.

Stock market weakness also sent investors towards gold and silver as portfolio hedges, with the combined effect of safe-haven interest, supply concerns and currency moves outweighing the drag from a firmer dollar during several episodes of risk aversion.

Gold Price Today and Silver Price Today: Gold-specific FAQs for Indian investors

One common question is why gold prices fell on 5 March, and market feedback points mainly to profit-taking after a steep rally, along with a modest dip of 0.47% in international spot prices to $5,135 per ounce from earlier peaks.

Another frequent query concerns whether this is a favourable time to buy gold, and many analysts say yes for long-term horizons, arguing that corrections from record levels offer entry points while geopolitical risks and prior central bank buying still underpin the broader uptrend.

Investors also ask how MCX prices influence retail rates, and dealers explain that futures often lead spot moves, meaning that today’s volatility in exchange-traded contracts can signal caution for small buyers even if physical demand from jewellers remains steady on the ground.

Regarding performance in 2026, global gold is up about 19% year-to-date after a large 64% advance in 2025, largely driven by financial and political turmoil, prompting some investors to hold bullion as a hedge against uncertain equity and bond markets.

Another key question is whether GST is included in quoted gold prices, and experts state that published rates exclude the 3% goods and services tax, any tax collected at source and making charges, so buyers should confirm final invoices with their chosen jeweller before completing purchases.

Gold Price Today and Silver Price Today: Silver-related FAQs and guidance

For silver, investors ask why prices dipped on 5 March, and traders attribute the move to profit-booking after recent highs, with international benchmarks easing from peaks close to $93 per ounce even as underlying demand for industrial use remains firm.

Another question is whether this environment is suitable for buying silver, and many market participants say that, with a 16% gain year-to-date and strong demand from solar and electric vehicle sectors, staggered buying or systematic plans can help average costs through phases of volatility.

Prospective buyers also compare physical silver with exchange-traded formats, and advisers often say that digital or ETF products offer easier liquidity and avoid storage challenges, while physical holdings provide tangibility and may be preferred for very long holding periods, though they carry GST and related costs.

Regarding February’s price swings, analysts link the 15.71% monthly decline in Delhi silver to a correction after January’s peak, with the market adjusting from earlier highs as global investors reassessed risk appetite and short-term positioning in response to shifting news from the Middle East.

Storage is another recurring concern, and experts suggest using demat-based platforms for digital holdings or bank lockers for physical bars and coins, while also recommending insurance cover when the value of stored silver exceeds about ₹2 lakh for added protection.

Gold Price Today and Silver Price Today: Disclaimers and risk notes

Market observers emphasise that both gold and silver price data presented here are indicative, based on available market sources for 5 March 2026, and do not include GST, tax collected at source or other levies, which can alter the final transaction cost for individual buyers.

Readers are advised to check prevailing rates with local jewellers or authorised dealers before making purchase or sale decisions, and the information discussed is intended for general guidance rather than personalised financial advice, leaving investors responsible for their own evaluation of risks and suitability.

With gold and silver both easing from record highs but still sharply higher for the year, Indian households, traders and institutions now face a market where corrections offer possible entry points, yet significant geopolitical risk and currency movements keep price paths uncertain, making diversification, disciplined allocation and product choice central to investment decisions in bullion during 2026.