Gold prices have seen a notable decline across major cities in India on March 1, 2025. The price of 24-carat gold fell to ₹87,003 per 10 grams, marking a decrease of ₹540 from the previous day. Meanwhile, 22-carat gold reported at ₹79,763 per 10 grams, reflecting a drop of ₹500. This downward trend isn't limited to gold; the silver market has also displayed fluctuations, with prices settling at ₹100,000 per kg, down ₹1,000 from the last recorded price.
The variation has stirred interest among investors and consumers alike, as the gold market grapples with the influence of global trends, economic conditions, and currency value shifts. Analysts point to recent reports indicating the weekly and monthly changes; gold prices registered -0.05% over the week and -5.43% over the month, reflecting broader market adjustments.
Prices for gold on March 1, 2025, were reported differently across several key cities:
- Delhi: 24K gold at ₹87,003, 22K at ₹79,763
- Mumbai: 24K gold at ₹86,500, 22K at ₹79,250
- Kolkata: 24K gold at ₹86,750, 22K at ₹79,500
- Chennai: 24K gold at ₹86,851, 22K at ₹79,651
- Bangalore: 24K gold at ₹86,845, 22K at ₹79,645
- Hyderabad: 24K gold at ₹86,859, 22K at ₹79,659
- Visakhapatnam: 24K gold at ₹86,867, 22K at ₹79,667
- Vijayawada: 24K gold at ₹86,865, 22K at ₹79,665
Chennai reported gold prices at ₹63,520 per sovereign, which marks continuity with previous trends observed over the last few weeks. Prior to this date, gold prices had fluctuated between ₹63,240 to ₹64,600 per sovereign depending on market fluctuations. Analysts advised potential buyers to take advantage of these lower prices as they could present significant value.
Market dynamics reveal the impact of external factors on gold and silver prices. Currency fluctuations, particularly the strength of the Indian rupee against the US dollar, heavily influence pricing. Currently, the rupee's performance has contributed to these declines. Rising interest rates, often seen as dampening factors for gold's appeal as they present more attractive yields on other financial instruments, also weigh on market sentiment.
Examining the silver prices across major cities, the rates are as follows:
- Delhi: ₹100,000 per kg
- Mumbai: ₹98,500 per kg
- Kolkata: ₹101,000 per kg
- Chennai: ₹107,600 per kg
- Bangalore: ₹99,000 per kg
- Hyderabad: ₹108,200 per kg
- Visakhapatnam: ₹106,600 per kg
- Vijayawada: ₹109,000 per kg
Investors and jewelers continue to monitor these developments closely. The current market condition indicates opportunity for both retail and institutional investors to take positions at favorable price levels. Jewelers are likely to experience heightened buying activity as retail buyers could be tempted to purchase before any potential upward trends.
While fluctuations are common, insights from industry experts suggest the importance of market timing and patience. With gold being considered a safe haven during economic fluctuations, long-term buyers are often advised to keep their investments steady and not react hastily to short-term price changes. Caution is warranted, especially for traders engaged with silver, wherein the prices displayed more volatility recently.
Overall, the precious metals market remains sensitive to various economic indicators and global developments. Investors are encouraged to stay informed about changing dynamics before making purchasing decisions. The recent drop could present renewed interest and activity, especially among those who view gold and silver as hedges against longer-term inflation concerns.