Gold Rate in India Rally Continues: 24K Up Rs 16,300/100 gm in 2 Days; Silver Gains Amid Iran-US War Jitters

Gold Rate in India: Prices of 24-karat, 22-karat and 18-karat gold in India extended their gains for the second consecutive session on Wednesday, March 11. Silver prices also edged higher in two days, reflecting a broader rebound in the bullion market as traders assessed lingering jitters surrounding the ongoing US-Israel-Iran conflict, which has boosted safe-haven demand for precious metals.

The gold price rally regained momentum after crude oil prices reversed their trajectory post a record jump in the last three days. Additionally, United States President Donald Trump also hinted that the Iran war may end "soon". Back in India, investors regularly track the gold and silver prices. Here are the latest gold and silver rates today, March 11.

24K Gold Rate in India

The price of 24 karat gold in India jumped Rs 93 per gram to Rs 16,331 per gram on Wednesday, March 11. Which means that the price of 10 grams of 24 karat gold in India increased by Rs 930 to Rs 163310. The rate of per 100 grams of 24 karat gold in India surged by Rs 9300 to Rs 16,33,100 on Wednesday. In the last two days, per 100 grams of 24 karat gold in India has become costlier by Rs 16300, as per Goodreturns data.

22K Gold Rate in India

The price of 22 karat gold in India increased by Rs 85 per gram to Rs 14,970 per gram on Wednesday, March 11. Hence, the rate per 10 grams of 24 karat gold in India surged by Rs 850 to Rs 149700. Whereas, per 100 grams of 24 karat gold in India became expensive by Rs 8500 to Rs 14,97,000 today.

18K Gold Rate in India

The rate of 18 karat gold in India increased by Rs 69 per gram to Rs 12,248 per gram on March 11. Hence, per 10 gram and per 100 gram of 24K gold rate in India was priced at Rs 1,22,480 and Rs 12,24,800 on Wednesday.

Silver Rate in India

Silver rate in India remained firm on Wednesday, holding on to its gains made in the previous session. Silver rate today stood at Rs 290 per gram and to Rs 2,90,000 per kilogram. In the last two trading sessions, silver price in India surged amid market uncertainty.

"Silver is rising significantly compared to yesterday and is performing better compared to gold, as renewed buying momentum is evident in the market. The rise in silver is a result of investment and industrial sentiment improving following positive global sign," explained Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA).

International Gold Rate Today

The international gold price continued to rise on Wednesday, hovering around $5,210 per ounce, according to Trading Economics. Investor sentiment in the bullion market remained influenced by persistent US-Iran war concerns, movements in the US dollar, anticipation surrounding the upcoming US inflation data, and a correction in crude oil prices, all of which have contributed to volatility in gold trading.

"Attention will turn to upcoming US CPI data, forecast at 2.5% year-on-year versus 2.4% previously, as a combination of a weakening labour market and rising inflation could create a challenging backdrop for the US economy. In commodities, gold appears to be consolidating, but if prices break 4996.04, markets should monitor price action closely, while a move below 4842 could bring additional selling pressure," explained Justin Khoo, Senior Market Analyst - APAC, VT Markets.

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