Overview
- International gold fell about 2% to roughly $5,023 per ounce, while silver dropped around 3.3% to near $80.54, retreating from early‑March highs.
- India’s 24K gold hovered around ₹1.59–₹1.61 lakh per 10 grams on March 14, with Mumbai at ₹1,59,660 and Delhi near ₹1,60,840 as city rates tracked the global pullback.
- Delhi saw one of the steepest domestic moves a day earlier, with silver down ₹11,000 (‑3.97%) to ₹2,65,500 per kg and gold lower by ₹2,000 (‑1.21%) to ₹1,63,200 per 10 grams, according to the All India Sarafa Association.
- Analysts from HDFC Securities, Choice Broking and Motilal Oswal attributed the decline to dollar strength, higher US Treasury yields and fading confidence in near‑term Federal Reserve rate cuts.
- Market reports noted regional variation, with southern cities such as Chennai and Hyderabad carrying silver premiums of about ₹10,000 per kg over northern metros.