Gold Price In India Rebounds After Rs 78,000/100 Gm Crash In 2 Days, Silver Rate Today Stable | March 20

Gold Price in India: The rates of 24 karat, 22 karat, and 18 karat gold in India edged higher on Friday, March 20, while the silver prices remained largely stable. The uptick in domestic gold prices came amid a broader recovery in the global bullion market, as investors reassessed their risk appetite in light of ongoing geopolitical tensions.

Despite Friday's surge, the gold rate in India is inching towards its third weekly decline amid heightened geopolitical uncertainty, US Federal Reserve's hawkish stance and concerns around Iran-US war in the West Asia.

Back in India, gold prices are tracked on a daily basis as it is not just a safe haven asset for investors but also carries immense emotional value for retail jewellery buyers. Here are the latest details about gold rate in India today.

Gold Price in India

The price of 24 karat gold in India increased by Rs 65 per gram to Rs 15,093 per gram on Friday, March 20. Which means that per 10 gram of 24 karat gold in India was priced at Rs 1,50,930 on Friday. The price of 24 karat gold in India has declined by Rs 78,000 per 100 grams in last two days.

The rate of 22 karat gold in India increased by Rs 60 per gram to Rs 13,835 per gram on Friday. The rate of 22 karat gold in India surged by Rs 600 per gram to Rs 1,38,350.

Likewise, the rate of 18 karat gold in India increased by Rs 49 per gram to Rs 11,320 per gram. Which means that the price of per 10 gram of 18 karat gold in India stood at Rs 1,13,200 on March 20.

Silver Rate in India Today

The price of silver in India saw a marginal decline to Rs 255 per gram and to Rs 2,55,000 per kilogram on Friday, March 20. The fall in silver rate today came amid persistent geopolitical tensions due to Iran-US war, crude oil price rally and risk of industrial growth slowdown.

Will Gold Price Rise Amid Geopolitical Uncertainty?

Gold and silver saw a sharp correction in their prices over the past two to three weeks. However, the yellow metal may see some upward momentum in the coming weeks as investors will navigate the US Federal Reserve's stance on future policy rate cuts and the transition of US Fed leadership to Kevin Warsh from Powell.

" As the market weighs the transition from Powell to Kevin Warsh amidst legal subpoenas and regional war, the U.S. dollar may face pressure from a perceived leadership vacuum. This instability enhances safe haven demand as investors seek protection from potential stagflation," explained Justin Khoo, Senior Market Analyst - APAC, VT Markets.

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