Gold and Silver Prices Fall Sharply: Gold Drops ₹3,275 This Week Amid Global Tensions

Gold Silver Price Today: Gold Drops ₹3,275, Silver Falls ₹9,330 in India – Latest Rates
Gold and silver prices declined significantly in the Indian market this week. Gold fell by ₹3,275 per 10 grams while silver dropped by ₹9,330 per kg. Check today’s latest gold and silver rates in India.

Gold and Silver Prices Decline in India Amid Global Uncertainty

Despite rising geopolitical tensions globally, gold and silver prices have witnessed a notable decline in the Indian market this week, offering relief to buyers and investors. The drop comes even as international markets remain volatile due to ongoing geopolitical developments, including tensions between Iran and Israel and fluctuations in crude oil prices.

Gold Price Drops by ₹3,275

Compared to last week, gold prices have registered a significant fall. On March 6, 2026, the price of gold was around ₹1,61,675 per 10 grams. However, over the course of the week, the price declined by approximately ₹3,275 per 10 grams.

The decline has surprised many investors, as gold typically sees a rise during periods of geopolitical uncertainty. However, market dynamics and global price adjustments have contributed to the recent correction.

Silver Becomes Cheaper by ₹9,330

Silver prices have also witnessed a sharper fall during the same period. On March 6, silver was trading at around ₹2,68,579 per kilogram. Over the week, the price dropped by nearly ₹9,330 per kilogram.

According to current market rates, 10 grams of silver is priced at around ₹2,750 in Delhi, Mumbai, and Kolkata, while in Chennai the rate is about ₹2,800.

Opportunity for Long-Term Investors?

Historically, investors turn to gold as a safe-haven asset during periods of global political instability. However, despite the uncertain geopolitical climate, prices have moved downward this week.

Market experts suggest that such corrections can present a potential opportunity for long-term investors looking to accumulate gold at comparatively lower prices.

Government Cuts Gold Base Import Price

Amid fluctuating prices, the government has also taken a significant step. On March 14, the government announced a reduction in the base import price of gold by $12 per 10 grams.

With this change, the base import price has been reduced from $1,664 to $1,652 per 10 grams.

The base import price, also known as the tariff value, is a benchmark used to calculate customs duty and other import taxes on goods entering the country. A reduction in this value may help lower the tax burden on importers, which can potentially influence domestic gold prices.

Disclaimer

Gold and silver prices are subject to frequent market fluctuations and may vary across cities, jewellers, and trading platforms. The prices mentioned are indicative and based on available market data at the time of publishing. Investors and buyers are advised to verify the latest rates from authorised dealers or financial advisors before making any purchase or investment decisions.