Gold prices in India witnessed a marginal decline for the fifth consecutive day on Saturday, March 7, as investors continued to book profits following the metal's record-shattering rally earlier this month.
Despite the cooling trend, bullion remains near historic highs driven by sustained geopolitical tensions in the Middle East and a fluctuating U.S. dollar.
According to data from GoodReturns, the price of 24-carat gold in Kerala settled at ₹16,112 per gram, reflecting a slight dip of ₹1 from Friday's close. The more popular 22-carat gold, widely used for jewellery, was recorded at ₹14,769 per gram, also down by ₹1.
Market analysts note that while the safe-haven appeal of gold remains intact due to the ongoing conflict between the U.S., Israel, and Iran, domestic prices are reacting to global corrections and a stronger rupee. On the Multi Commodity Exchange (MCX), gold has retreated from its March 1 peak of over ₹1.73 lakh per 10 grams to stabilise in the ₹1.61 lakh range.
Silver prices remained largely steady across major Indian hubs, hovering around ₹2,85,000 per kilogram, as industrial demand from the EV and solar sectors continues to provide a price floor.
City-Wise Gold Rates (24K & 22K) per 10 Grams - March 7, 2026
Retail gold prices vary across Indian cities due to local taxes, octroi, and transportation costs. Below are the indicative rates for major cities:
| City | 24K Gold (10g) | 22K Gold (10g) |
| Chennai | ₹1,61,820 | ₹1,48,350 |
| Delhi | ₹1,61,270 | ₹1,47,840 |
| Mumbai | ₹1,61,120 | ₹1,47,690 |
| Kolkata | ₹1,61,120 | ₹1,47,690 |
| Bangalore | ₹1,61,120 | ₹1,47,690 |
| Hyderabad | ₹1,61,120 | ₹1,47,690 |
| Kerala | ₹1,61,120 | ₹1,47,690 |
| Pune | ₹1,61,120 | ₹1,47,690 |
| Vadodara | ₹1,61,170 | ₹1,47,740 |
| Ahmedabad | ₹1,61,170 | ₹1,47,740 |
Market Outlook and Investment Strategy
The "gold rate today" remains a high-interest search term as the wedding season approaches in India. Experts at the India Bullion and Jewellers Association (IBJA) suggest that while the "gold price crash" over the last four days has wiped off nearly ₹1.10 lakh per 100 grams from the weekly peak, the long-term trend remains bullish.
"The broader technical structure for gold is still sideways-to-bullish," said a senior commodity analyst. "Support is firmly placed at the ₹1,58,000 level. Any dip toward this zone should be viewed as a buying opportunity for long-term investors."
For those looking to buy, experts recommend checking for BIS Hallmarked jewellery to ensure purity. With silver expected to outperform gold in percentage terms later this year, many retail investors are also shifting focus to digital silver and ETFs.
Disclaimer: The above rates are indicative and do not include GST, TCS, and other local levies. Consult your local jeweller for exact prices.