Gold prices in India witnessed a decline once again at the end of the week, bringing some relief to buyers amid the ongoing wedding season. Over the past week, gold rates have dropped by ₹8,200 per 100 grams as investors booked profits following record-high prices. This dip in gold prices comes as global cues continue to influence the Indian bullion market. Additionally, traders are closely monitoring developments in the U.S., particularly the upcoming non-farm payrolls data, which could further impact gold prices in India.

Gold prices in India today

On 7th March 2025, 24-carat gold rates in India stood at Rs. 87,160 per 10 grams after a drop of Rs. 330, whereas the 22-carat gold rates slipped by Rs. 300 to cost Rs. 79,900. In a similar line, the 18-carat gold rates in India are now cheaper and cost Rs. 65,380 after a drop of Rs. 240.

Just like that, 100 grams of 24-carat gold retails at Rs. 8,71,600 with a drop of 3,300, and 22-carat gold per 100 g retails at Rs. 7,99,000 a a decrease of Rs. 3,000 per 100 grams, and 18-carat gold per 100 grams slipped by Rs. 2,400 to retail at Rs. 6,53,800.

Gold Prices in Major Cities in India

Most of the Indian cities are experiencing a similar price drop. Here are gold prices in some of the major cities:

Silver rates in India today

Silver prices in India on 7th March rose for the third time this week. Silver rates in India per kilogram are up by Rs. 100; it costs Rs. 99,100 per kg. The price of 100 grams of silver was Rs. 9,910 after a slight increase of Rs. 10.

MCX Gold and Silver Futures Prices

Gold prices on the MCX (Multi Commodity Exchange) today extended gains. Gold futures due to mature on April 4, 2025, slipped by 0.23% to Rs. 85,837. Silver futures, with an expiration date of March 5, 2025, also dipped this morning, trading 0.14% lower than the previous close at Rs. 98,000.

Spot Gold and Spot Silver Prices

As per Reuters latest reports, “Gold prices dropped on Friday due to profit-taking, yet remained on track for a weekly gain as concerns over U.S. President Donald Trump’s tariff policies. As of 03:25 GMT, spot gold slipped 0.2% to USD 2,904.98 per ounce, though it has risen 1.6% over the week. Meanwhile, U.S. gold futures dropped 0.5% to USD 2,911.90 per ounce, and spot silver declined 0.4% to USD 32.51 per ounce.

Market Experts on Gold Prices in India Outlook

According to Nirmal Bang Securities, “Gold fell on Thursday as investors studied the latest developments around tariffs and their impact on the US economy and Federal Reserve decisions. President Trump exempted Mexican and Canadian goods covered by the North American trade agreement known as USMCA from his 25% tariffs, offering major reprieves to the US’s two largest trading partners. Trump signed orders Thursday paring back the tariffs, which are related to illegal immigration and fentanyl tracking, until April 2. That is the date when the president is expected to start unveiling plans for so-called reciprocal duties on nations around the world as well as sector-specific duties. The decision marks a significant reversal by Trump, who on Tuesday had announced the largest tariff increase in a century only to back down 48 hours later as stocks were hammered and Republicans expressed concern about the economic consequences. A slew of tariff headlines in recent days have created large swings in equities and kept investors on edge. In the bond market, traders sold Treasuries amid mounting conviction that a trade-induced growth slowdown will lead the Fed to cut interest rates multiple times this year. Both lower borrowing costs and declining yields tend to benefit gold, as it doesn’t pay interest. Elsewhere, traders will be parsing nonfarm payrolls data on Friday for any further signs of a slowing labor market, which would boost the odds of more Fed rate cuts.”