Drop in Gold Rate in India After Rising Nearly Rs 34,000; Will Gold Price Today Rebound or Fall on 3 April?

Gold rates in India witnessed a sharp correction after a strong multi-day rally, as profit booking weighed on the precious metal in early trade. The yellow metal had surged significantly in recent sessions, with 24K gold rising by nearly Rs 33,900 per 100 grams in just three days this week. However, the trend reversed in the latest trading session, with gold prices declining across purity levels.

Drop in Gold Rate in India After Rising Nearly Rs 34,000 This Week; Indian Rupee Rebounds

The fall in gold prices coincided with a sharp rebound in the Indian rupee, which recorded its biggest gain in over 12 years after the Reserve Bank of India (RBI) introduced fresh measures to curb currency volatility. A stronger rupee typically makes gold cheaper in domestic markets, contributing to the downward pressure on prices.

Gold Rate Today: Check Latest 22K, 24K & 18K Gold Prices Per Gram

24 Karat Gold Rate Today in India

For 24 Karat (24K) gold at the time of writing as per GoodReturns data, the price for 1 gram stands at Rs 14,897, marking a sharp decline of Rs 398 from the previous day's Rs 15,295. 8 grams of 24K gold is now priced at Rs 1,19,176, down by Rs 3,184 compared to Rs 1,22,360.

Similarly, 10 grams of 24K is trading at Rs 1,48,970, registering a fall of Rs 3,980 from Rs 1,52,950. For bulk buyers, 100 grams of 24K gold now costs Rs 14,89,700, reflecting a significant drop of Rs 39,800 from the previous Rs 15,29,500.

22 Karat Gold Rate Today in India

In the 22 Karat (22K) segment, the rate for 1 gram stands at Rs 13,655, down Rs 365 from Rs 14,020. For 8 grams, the price has slipped to Rs 1,09,240, marking a fall of Rs 2,920 from Rs 1,12,160. The 10 gram rate is now Rs 1,36,550, down Rs 3,650 compared to Rs 1,40,200.

On a larger scale, 100 grams of 22K gold is priced at Rs 13,65,500, reflecting a decline of Rs 36,500 from Rs 14,02,000.

18K Gold Rate Today in India

As per latest trading session, the price for 1 gram of 18K is Rs 11,173, down by Rs 298 from Rs 11,471. For 8 grams, the rate stands at Rs 89,384, registering a drop of Rs 2,384 from Rs 91,768. The 10-gram price is now Rs 1,11,730, down Rs 2,980 from Rs 1,14,710.

Meanwhile, 100 grams of 18K gold is priced at Rs 11,17,300, reflecting a decline of Rs 29,800 from Rs 11,47,100.

MCX Gold Rate: Latest Futures Trends

In the derivatives market, gold futures on the Multi Commodity Exchange (MCX) also witnessed sharp selling pressure at the latest trading session. The June 5 contract opened lower by Rs 1,218 at Rs 1,52,490 per 10 grams compared to its previous close.

As the session progressed, prices fell further, declining by Rs 3,514 to hit an intraday low of Rs 1,50,194 per 10 grams.

Spot Gold Price Trends After President Trump's Remarks

In the international market, spot gold prices dropped more than 4% to around $4,580 per ounce, snapping a four-day gaining streak. The decline came as the US dollar strengthened after US President Donald Trump signalled that while strategic objectives in Iran were nearing completion, military action could continue for another two to three weeks.

A stronger dollar typically weighs on gold prices, as it makes the metal more expensive for holders of other currencies, thereby reducing global demand.

Will Gold Price Today Rebound or Continue Fall? Check Gold Price Outlook

"Gold's recent volatility reflects its balancing between its traditional role as a safe-haven asset and the strength of the USD making it more expensive for foreign buyers. Heightened geopolitical tensions generally push investors toward gold as a store of value, driving prices higher," said Ross Maxwell, Global Strategy Operations Lead, VT Markets.

"However, in the current environment we have seen USD strengthen at the same time. This has due to expectations of tighter monetary conditions and has created downward pressure on gold. Due to the conflicting scenarios, we have seen volatile price movements," he added.

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