Gold prices rise on March 7 amid safe-haven demand. (Photo: Canva)
Gold prices in India recorded a fresh uptick on March 7, supported by strong global cues and continued safe-haven demand amid rising geopolitical tensions in the Middle East. Despite intermittent profit-booking and market volatility, analysts say the broader outlook for the precious metal remains bullish heading into next week.
The surge in bullion prices comes as investors increasingly turn to gold during periods of economic uncertainty and geopolitical risks. Analysts believe that as long as global tensions persist and macroeconomic concerns remain, gold is likely to maintain its upward bias in the near term.
According to the latest market data, the price of 24-carat gold (99.9% purity) stands at Rs 16,364 per gram, while 22-carat gold (91.6% purity) is priced at Rs 15,000 per gram. Meanwhile, 18-carat gold is trading around Rs 12,273 per gram.
For larger quantities, 10 grams of 24-carat gold is priced at Rs 1,63,640, marking an increase of Rs 2,510 compared to the previous session. Similarly, 100 grams of gold is now priced at Rs 16,36,400, reflecting strong buying interest.
Gold rates vary slightly across cities due to local taxes, transportation costs and demand.
Chennai: 24K – Rs 16,418 | 22K – Rs 15,050 | 18K – Rs 13,070
Delhi: 24K – Rs 16,380 | 22K – Rs 15,015 | 18K – Rs 12,288
Mumbai: 24K – Rs 16,364 | 22K – Rs 15,000 | 18K – Rs 12,273
Kolkata: 24K – Rs 16,364 | 22K – Rs 15,000 | 18K – Rs 12,273
Bengaluru: 24K – Rs 16,364 | 22K – Rs 15,000 | 18K – Rs 12,273
Hyderabad: 24K – Rs 16,364 | 22K – Rs 15,000 | 18K – Rs 12,273
Pune: 24K – Rs 16,364 | 22K – Rs 15,000 | 18K – Rs 12,273
Ahmedabad: 24K – Rs 16,370 | 22K – Rs 15,005 | 18K – Rs 12,278
Vadodara: 24K – Rs 16,370 | 22K – Rs 15,005 | 18K – Rs 12,278
Kerala: 24K – Rs 16,364 | 22K – Rs 15,000 | 18K – Rs 12,273
In the international market, US spot gold rose by around 1.15% to $5,181.30 per ounce, supported by geopolitical tensions and safe-haven buying. Commodity analysts say volatility in global markets has intensified as investors respond to developments in the Middle East and economic signals from the United States.
Market experts believe gold prices are likely to remain firm in the coming sessions despite short-term corrections.
Ponmudi R, CEO of Enrich Money, noted that the broader commodities market is witnessing increased volatility due to geopolitical tensions. However, he emphasised that the long-term trend in gold remains positive.
According to him, as long as prices stay above the $5,000–$5,100 support zone in global markets, the bullish structure will remain intact. A decisive breakout above $5,200 could push prices toward $5,400–$5,600 in the coming months.
Domestic gold futures on the Multi Commodity Exchange (MCX) are also trading in an upward trend. Analysts say the earlier resistance range between Rs 1,58,000 and Rs 1,63,000 has now turned into a strong support zone after the breakout.
If gold continues to hold above Rs 1,65,000, prices could move toward Rs 1,70,000 in the near term. However, a fall below Rs 1,57,000 may trigger a deeper correction toward the Rs 1,50,000 level.
Experts expect gold prices to remain volatile but biased toward the upside when markets reopen on Monday. Investors are closely watching key global indicators, including US employment data and interest-rate signals from the Federal Reserve.
Continued geopolitical tensions and safe-haven demand are likely to keep gold supported. If bullish momentum persists, analysts say the metal could test higher levels in the coming week.
Sofia Babu Chacko is a journalist with over five years of experience covering Indian politics, crime, human rights, gender issues, and stories about marginalized communities. She believes that every voice matters, and journalism has a vital role to play in amplifying those voices. Sofia is committed to creating impact and shedding light on stories that truly matter. Beyond her work in the newsroom, she is also a music enthusiast who enjoys singing.
Right before Suryakumar Yadav's interaction with the media, Mitchell Santner said that he wouldn't mind…
UP Police SI Exam 2026: City Intimation Slip Out, Check Exam City at uppbpb.gov.in
The Uttar Pradesh Police Recruitment and Promotion Board (UPPRPB) has released the UP Police SI Exam…
A heartwarming proposal video is going viral on social media, showing a man planning a…
