Fatal Crash In Gold Rates In India By Rs 1,03,200/100 Gm; Biggest Single-Day Fall In 24K, 22K, 18K Gold Prices

Gold rates in India have recorded their biggest single-day decline on March 23, as the spot gold price sees its worst performance in 40 years. While the silver price touched a new 1-year low.

Accordingly, gold prices have extended their losses to a fourth week and are currently around a 4-month low. The performance is fueled due to inflationary risks and rate hike cycle fear. Global gold prices are at multi-decade lows, with spot gold struggling around $4,400 and MCX gold having erased its Rs 1.4 lakh mark. Dollar has stayed firm at the 100 mark, which has dampened appetite for precious metals as well.

Gold Rates In India:

24 Carat Gold Rates Fall Today:

The steepest decline is seen in 24 carat gold rates of India. 24 carat is 100% pure gold. That being said, on March 23, 24 carat gold in 100 grams nosedived by Rs 1,03,200 to Rs 13,56,500. In the same carat, the benchmark 10 grams gold plunged by RS 10,320 to Rs 1,35,650. Also, 8 grams gold dropped by Rs 8,256 to Rs 1,08,520 and 1 gram gold slipped by Rs 1,032 to Rs 14,002.

22 Carat Gold Rates Crash Today:

Following the selling trend, 22 carat gold rates in India also saw a massive downfall. 22 carat is 91.67% pure gold and the rest, 8.33%, includes other metals like silver, zinc, nickel and other alloys.

This gold witnessed Rs 94,500 decline in 100 grams to Rs 12,43,500, while 10 grams gold plunged by Rs 9,450 to Rs 1,24,350. Also, 8 grams gold slipped by Rs 7,560 to Rs 99,480 and 1 gram gold edged down by Rs 945 to Rs 12,435.

18 Carat Gold Rates Drop Today:

Gold prices in 18 carat faced a similar selling pressure. 18 carat is 75% pure gold and rest 25% includes other metals & alloys. Accordingly, on March 23, 18 carat gold plunged by Rs 77,400 to Rs 10,17,400 per 100 grams, while the downfall was of Rs 7,740 to Rs 1,01,740 per 10 grams. In 18 carat, the 8 grams gold price dropped by Rs 6,192 to Rs 81,392 and 1 gram gold slipped by Rs 774 to Rs 10,174.

Why Gold Prices Are Falling?

According to analysts at Axis Securities, COMEX gold witnessed its steepest weekly decline in decades.

The prices of precious metals have extended their losses after reports from Pentagon stated that they are deploying three warships and thousands of Marines to the region, prompting traders to price in a 50% chance of a Federal Reserve rate hike by October amid fears of sustained inflation.

Analysts added that the safe-haven metal has fallen every week since the US-Israel strikes on Iran last month, pressured by rising Treasury yields, a stronger dollar, and profit-taking as investors liquidated positions to offset losses elsewhere.

Gold Rates In India Performance In 10 Days:

Gold prices have been broadly under pressure over the past ten days. 100 grams gold in 24 carat especially has collapsed by a breathtaking Rs 224,300 from March 18th to March 23rd. The downfall in 10 grams is around Rs 18,060 during the period.

That being said, gold is down by over 19% in March so far.

Date	24K Gold Price (Change)	22K Gold Price (Change)
Mar 23, 2026	₹13,56,500 (-1,03,200)	₹12,43,500 (-94,500)
Mar 22, 2026	₹14,59,700 (0)	₹13,38,000 (0)
Mar 21, 2026	₹14,59,700 (-29,400)	₹13,38,000 (-27,500)
Mar 20, 2026	₹14,89,100 (-13,700)	₹13,65,500 (-12,000)
Mar 19, 2026	₹15,02,800 (-71,400)	₹13,77,500 (-65,500)
Mar 18, 2026	₹15,74,200 (-6,600)	₹14,43,000 (-6,000)
Mar 17, 2026	₹15,80,800 (+6,600)	₹14,49,000 (+6,000)
Mar 16, 2026	₹15,74,200 (-22,400)	₹14,43,000 (-20,500)
Mar 15, 2026	₹15,96,600 (0)	₹14,63,500 (0)
Mar 14, 2026	₹15,96,600 (-103)	₹14,63,500 (-9,500)

Gold Rates In Top Cities:

Gold Rates In Chennai:

10 grams gold price dropped by Rs 7,300 to Rs 1,41,280 in 24 carat, and 100 grams gold price here nosedived most by RS 73,000 to Rs 14,12,800.

Gold Rates In Hyderabad:

Gold Rates In Bengaluru:

Gold Rates In Mumbai:

Gold Rates In Delhi:

MCX Gold Price + MCX Silver Price:

MCX gold price has extended its losses after falling by Rs 9,286 or 6.43% to RS 1,35,206 per 10 grams, at the time of writing. MCX gold is near its intraday low of Rs 1,34,416 per 10 grams.

MCX silver price also dropped by Rs 19,237 or 8.5% to trade at Rs 2,07,535 per 1Kg, after hitting an intraday low of Rs 2,06,363 per 1Kg.

BUY Gold/Silver?

In technical report dated March 23, analysts at Nirmal Bang said, "Gold prices are expected to correct. One can sell at 141000 with a stop loss of 143000 for the target at 138000-135000."

For silver, analysts note added, "silver prices are expected to correct. Traders can sell at 219000 with a stop loss of 224000 for the target at 210000-200000."

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