Gold Price In India Update, March 11: 24K/100g Gold Slips Rs.3300, Silver down Rs. 1000; Should You Invest?

Gold prices in India dipped after a slight rise in rates was observed yesterday. However, the gold price trend remains upward, slowly approaching the Rs.90,000 per 10 grams mark as rates inch higher. While this pullback may provide temporary relief, market analysts predict a bullish momentum for gold in the near term. Investors are now focused on the upcoming U.S. Consumer Price Index (CPI) data release on Wednesday, which will offer insights into the Federal Reserve's interest rate policy. Meanwhile, the U.S. dollar index remains near a four-month low, along with a decline in 10-year U.S. Treasury yields, further supporting the gold price.

Gold Rates in India Today

24-carat gold rates in India, on March 11th, slipped by Rs. 330 per 10 grams to cost Rs. 87,490. While the 22-carat gold rates jumped by Rs. 300 to retail at Rs. 80,200 per 10 grams. Similarly, 18-carat gold rates in India dropped by Rs. 290 to cost Rs. 65,620 per 10 grams.

In a similar line, the 100 grams of 22-carat gold plunged Rs. 3000 to stand at Rs. 8,02,000. While the 24-carat gold prices in India per 100 grams decreded o Rs. 3300, which is now retailing at Rs. 8,74,900.

Silver rates in India today

Silver prices in India on 11th March slipped, bringing silver prices back to below 1 lakh per kg. Silver rates in India today per kilogram cost Rs. 98,000 per kg after a decline of Rs. 1000. The price of 100 grams of silver was Rs. 9,800, which slipped by Rs. 100.

MCX Gold and Silver Futures Price

Gold prices on the MCX (Multi Commodity Exchange) slipped below the Rs.86,000 mark. Currently, gold futures prices due to mature on April 4, 2025, rose by 0.25% to Rs.86,636. Silver futures, with an expiration date of May 5, 2025, also saw an uptick this morning, trading 0.41% higher at Rs. 96,858.

Global Gold and Silver Price Update

As per Reuters, spot gold edged up 0.3% to $2,897.39 per ounce as of 0250 GMT, while U.S. gold futures remained stable at $2,900.80. Meanwhile, spot silver held steady at $32.11 per ounce. A weaker U.S. dollar index, hovering near a four-month low, made gold more affordable for international buyers. Additionally, a decline in benchmark 10-year U.S. Treasury yields provided further support to bullion prices.

Factors Affecting Gold Rates in India & Outlook Ahead

"Gold prices held steady in the early trading session after modest gains last week as the dollar remained near a four-month low amid uncertainties around U.S. trade policies. Trump's administration has imposed 25% tariffs on imports from Mexico and Canada, with additional measures targeting China. These policies have raised concerns about potential economic slowdowns and rising inflation. The tariffs, particularly those on steel and aluminum imports from Canada and Mexico set to take effect this Wednesday, have unsettled investors, leading to heightened market volatility. Investors mull over jobs data; Powell comments for Fed rate clues. Fed Chair Powell indicated that the central bank would maintain a patient stance on interest rates, acknowledging that the U.S. economy remains in a good place despite elevated uncertainties. Market participants will focus on US CPI and PPI data, which is scheduled later this week." says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd.