Gold Rates In India Today Crash Hard; Gold Falls Nearly Rs 11,000 In Single Day; 24K, 22K, 18K Gold Prices

Gold rates in India crashed steeply on March 12, following the sharp correction in the spot gold price. Spot gold dropped below $5,150, extending its decline for a second session straight. The reason behind the latest decline in gold prices is the surge in oil prices which has escalated near $100 per barrel. Spike in oil creates inflationary pressure and further dulls the chances of rate cut from US Federal Reserve.

Gold Rates In India:

The 24 carat which has 100% purity in yellow metal, nosedived by Rs 10,900 to Rs 16,22,200 in 100 grams, while 10 grams gold of the same is down by Rs 1,090 to Rs 1,62,220. The 8 grams gold rate here is lower by Rs 872 to Rs 1,29,776 and 1 gram gold is down by Rs109 to Rs 16,222.

Meanwhile, 22 carat gold prices in India dropped by Rs 1,000 to Rs 1,48,700 per 10 grams, while 100 grams gold price plunged by Rs 10,000 to Rs 14,87,000. The 8 grams gold rate dropped by Rs 800 to Rs 1,18,960 and 1 gram gold is down by Rs 100.

In case of 18 carat, 100 grams gold slipped by Rs 8,100 to Rs 12,16,700, and 10 grams gold is down by Rs 810 to Rs 1,21,670. Also, 8 grams gold price plunged by Rs 648 to Rs 97,336 and 1 gram gold is lower by Rs 81 to Rs 12,167.

MCX Gold Price:

MCX gold price with April 2026, dropped marginally by Rs 111 or 0.07% to Rs 1,61,678 per 10 grams, at the time of writing. The bullion is trading near its day's low of Rs 1,61,076 per 10 grams.

Spot Gold Price

International spot gold price slipped for the second straight session to below $5,150 per ounce. This is due to the heightened inflationary pressure and lowered expectations of US Federal Reserve rate cut in the year.

As per Trading Economics, Oil prices climbed for a second day as the prospect of a protracted Iran war overshadowed a coordinated release of oil reserves by major economies. Markets also viewed the emergency oil release as insufficient even after the IEA agreed to its largest-ever release of 400 million barrels of oil. Gold came under pressure as well from a rallying dollar and surging Treasury yields as forward-looking inflation concerns dimmed prospects for a Fed easing, with forecasts currently pointing to only one rate reduction later this year. Meanwhile, data on Wednesday showed US core inflation remained tame at the start of the year. The European Union also warned that its inflation could exceed 3% this year.

What To Expect In Gold Prices In India Ahead?

According to Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures, Gold is holding steady as compared to the previous session, and investors are still being cautious about their stance. This is despite the fact that the metal is still benefiting from its safe-haven appeal. Markets are balancing risk sentiment and policy expectations, and this has caused the metal to consolidate around its current position.

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.