Gold Rate in India Drops for 2nd Straight Day on Holi 2026, MCX Gold Flat Amid Iran-Israel Tensions; Outlook

Gold rates in India declined for the second consecutive day on the occasion of Holi. Over the past two sessions, gold has fallen by Rs 30,700 per 24 Karat (24K) per 100 gm and Rs 28,000 per 22 Karat (22K)/100 gm, reflecting a sharp correction in prices amid escalating tensions between Iran and Israel.

Gold Rates Today on Holi 2026

At the time of writing on March 4, 2026, the price of 24 Karat gold in India stood at Rs 17,002 per gram, while 22 Karat gold was priced at Rs 15,585 per gram. The decline follows weakness in global bullion markets alongside a stronger US dollar.

In the international market, gold slipped nearly 5% to hover around $5,050 per ounce on Tuesday. The drop came as investors increasingly favored the US dollar over bullion as a safe-haven asset amid escalating geopolitical tensions.

The greenback strengthened as market participants sought protection against soaring energy prices linked to the Middle East conflict, adding further pressure on global gold prices.

MCX Gold Price Today: Check Gold Futures

Gold futures for the April 2, 2026 expiry witnessed a volatile trading session in the commodities market, keeping traders on their toes throughout the day. The GOLD FUTCOM contract, traded in units of 10 grams, opened strong at Rs 1,61,995 before slipping to an intraday low of Rs 1,58,716 as selling pressure intensified.

However, the yellow metal attempted a rebound, climbing to a high of Rs 1,64,900 during the session amid bouts of aggressive buying. Despite the sharp swings, the contract eventually settled at Rs 1,61,108, with the last traded price (LTP) recorded at Rs 1,61,102.

Interestingly, even after the day's dramatic highs and lows, the contract ended almost flat, registering a marginal absolute change of -Rs 6, translating to a negligible 0.00% movement.

Gold Price Today: Check Latest 22K, 24K & 18K Gold Rates on 4 March 2026

24 Karat Gold Price Today in India

The price of 24 Karat gold fell by Rs 289 per gram to Rs 16,762 at the time of writing. For larger quantities, 8 grams is now priced at Rs 1,34,096, down by Rs 2,312 from the previous session. The 10 gram of 24K rate slipped by Rs 2,890 to Rs 1,67,620, while 100 grams of 24 Karat gold declined sharply by Rs 28,900 to Rs 16,76,200 from Rs 17,05,100 yesterday.

22 Karat Gold Rate Today in India

Similarly, 22 Karat gold also witnessed a drop in prices. The rate per gram stands at Rs 15,365, marking a fall of Rs 265. The price for 8 grams eased to Rs 1,22,920, down by Rs 2,120. For 10 grams, the rate slipped by Rs 2,650 to Rs 1,53,650. Meanwhile, 100 grams of 22 Karat gold declined by Rs 26,500 to Rs 15,36,500.

18 Karat Gold Rate Today in India

In the 18 Karat segment, gold prices also remained under pressure. The per gram rate dropped by Rs 216 to Rs 12,572. The price of 8 grams stands at Rs 1,00,576, down by Rs 1,728. For 10 grams, the rate slipped by Rs 2,160 to Rs 1,25,720. On a bulk basis, 100 grams of 18 Karat gold fell by Rs 21,600 to Rs 12,57,200 compared to the previous day.

Gold, Silver is "likely to open with increased volatility after Holi, as markets remain sensitive to the US-Israel-Iran conflict as well as normal market drivers. Heightened geopolitical tensions typically increase safe-haven demand for precious metals," said Ross Maxwell, Global Strategy Operations Lead, VT Markets.

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