Gold Rate in India Falls For 4th Day Despite Middle East Crisis; Silver Stable | March 5 Rates In Your City

Gold Rate in India: Gold prices in India extended their losses for the fourth straight session on Thursday, March 5, with rates of 24 karat, 22 karat and 18 karat gold declining further across major cities including Bengaluru, Mumbai, Delhi, Chennai, etc. In contrast, silver prices remained largely steady.

The drop in domestic bullion rates came even as international gold prices stayed firm, supported by safe-haven demand amid escalating tensions in the Middle East involving the United States, Israel, and Iran.

24K Gold Rate in India

The price of 24 karat gold in India saw a sharp decline in the first half of the week. The rate of per gram of 24 karat gold in India declined by Rs 98 per gram to Rs 16,353 per gram on Thursday, February 5. Per 10 grams of 24 karat gold in India fell by Rs 980 to Rs 1,63,530. Whereas rate of per 100 grams of 24 karat gold in India fell by Rs 9800 to Rs 16,35,300.

22K Gold Rate in India

The rate of 22 karat gold in India also slipped during Thursday's trading session. The rate of 22 karat gold in India declined by Rs 90 per gram to Rs 14,990. The rate of per 10 gram of 22 karat gold in India fell by Rs 900 to Rs 1,49,900. The rate of per 100 gram of 22 karat gold in India fell by Rs 9000 to Rs 14,99,000 during the day.

18K Gold Rate In India

The rate of per gram of 18 karat gold in India declined by Rs 73 per gram to Rs 12,263 per gram. The rate of per 10 grams of 18 karat gold in India fell by Rs 730 per gram to Rs 1,22,630. Likewise, per 100 grams of 18 karat gold in India dipped by Rs 7,300 to Rs 12,26,300 on Thursday, March 5.

Gold Rate in Chennai, Hyderabad, Delhi, Bangalore

City	24K Today	22K Today	18K Today
Chennai	₹16,495	₹15,120	₹13,039
Mumbai	₹16,353	₹14,990	₹12,265
Delhi	₹16,368	₹15,005	₹12,280
Kolkata	₹16,353	₹14,990	₹12,265
Bangalore	₹16,353	₹14,990	₹12,265
Hyderabad	₹16,353	₹14,990	₹12,265
Kerala	₹16,353	₹14,990	₹12,265
Pune	₹16,353	₹14,990	₹12,265
Vadodara	₹16,358	₹14,995	₹12,270
Ahmedabad	₹16,358	₹14,995	₹12,270

Silver Rate in India

The price of silver in India remained stable on Thursday. Silver rate in India stood at Rs 285 per gram and Rs 2,85,000 per kilogram on March 5.

International Gold Price Surges Amid Middle East Tensions

While domestic gold prices remained weak on Thursday, international gold prices continued their upward trend amid intensifying Middle East Tensions. International gold price today jumped to around $5,170 per ounce, according to Trading Economics.

Gold's safe-haven rally has been largely driven by investor concerns over escalating tensions in the Middle East. The United States and Israel have carried out strikes on several Iranian targets, while Tehran has responded with missile attacks on regional sites. In a major escalation, a US submarine reportedly sank an Iranian warship in international waters near Sri Lanka, leaving around 80 sailors dead, according to officials.

"Escalating tensions between the US, Israel and Iran have seen investors return to gold in its role as a traditional safe-haven asset, causing prices to rise sharply in global and Indian gold markets," explained Ross Maxwell, Global Strategy Operations Lead, VT Markets.

"If the conflict is pro-longed or spreads into a wider regional conflict, then gold could test new highs in India, especially if crude oil remains elevated and the rupee stays under pressure, which increases import costs for gold. However, any signs of de-escalation or a stronger USD could cap prices in the short-term," he added.

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.