Monday, March 23, 2026, turned out to be a historic day for the precious metals market in India. Gold and silver prices witnessed a dramatic freefall, providing a golden opportunity for buyers and investors who had been waiting for a price correction. Following weak global cues and a shift in investor sentiment toward other assets, the “yellow metal” lost significant ground, making it one of the most profitable days for jewelry shoppers in recent months.

Detailed Rate Analysis: In major cities like Kolkata, Mumbai, and Delhi, gold prices slipped significantly in the morning session. The price of 22-carat gold saw a dip of approximately ₹5,450 per 10 grams, bringing it down to roughly ₹1,29,850. Similarly, 24-carat pure gold saw a sharp decline of over ₹5,700 per 10 grams, trading at around ₹1,36,340. This unexpected slide is being attributed to a stronger US dollar and expectations of global interest rate hikes, which often lead to a sell-off in gold.

Silver Prices Mirror the Trend: Silver followed suit with an even sharper correction. The price of silver per kilogram crashed by nearly ₹15,000, settling around the ₹2,30,000 mark. Although the market showed a slight upward recovery in the late evening, matching international trends, the overall sentiment remained bearish throughout the day. For those planning for the upcoming wedding season, today was arguably the best time to lock in their purchases. DailyHunt readers are encouraged to consult their local jewelers for the exact final price, including GST and making charges, before finalizing any transactions.