Gold Rate in India Slips Around Rs 26,000/24K in Single Day Amid Escalating Iran-Israel, US Tension; Outlook

After the war began in the Middle East, the first trading session of the week opened in the red for domestic bullion markets. Gold rates in India witnessed sharp profit-booking despite heightened global tensions, with 24 Karat gold (24K) tumbling by Rs 25,800 in a single day to Rs 17,05,100 per 100 grams. The sudden decline came even as international prices surged to record highs.

Gold Rate Today: Check Latest 22K, 24K & 18K Gold Prices on 3 March 2026 Ahead of Holi

24 Karat Gold Rate Today in India

At the time of writing, 24 Karat gold prices in India are trading lower compared to the previous session. The latest retail rate for 24 Karat gold stands at Rs 17,051 per gram, down by Rs 258 from yesterday's price of Rs 17,309 per gram.

For bulk quantities, 8 grams of 24K gold are priced at Rs 1,36,408, reflecting a fall of Rs 2,064. The 10 gram gold rate is currently Rs 1,70,510, down Rs 2,580, while 100 grams are valued at Rs 17,05,100, marking a sharp decline of Rs 25,800 compared to the previous close.

22 Karat Gold Rate Today in India

On 3 March 2026, the current price of 22 Karat gold is Rs 15,630 per gram, lower by Rs 235 from yesterday's Rs 15,865 per gram. For 8 grams, the rate stands at Rs 1,25,040, registering a drop of Rs 1,880. The 10 gram price is quoted at Rs 1,56,300, down Rs 2,350, while 100 grams of 22K gold are available at Rs 15,63,000, reflecting a decline of Rs 23,500.

18 Karat Gold Rate Today in India

Meanwhile, the latest price for 18 Karat gold is Rs 12,788 per gram, down by Rs 193 from the previous rate of Rs 12,981 per gram. For 8 grams, the price is Rs 1,02,304, showing a decrease of Rs 1,544. The 10 gram rate stands at Rs 1,27,880, lower by Rs 1,930, and 100 grams are currently priced at Rs 12,78,800, marking a decline of Rs 19,300 compared to the previous trading session.

Spot Gold Price Today: Check Gold Rate Outlook For 3 March 2026 Amid Iran-US, Israel Tension

Gold prices are expected to remain highly volatile in the next trading session as global markets digest a sharp escalation in Middle East tensions that has already propelled bullion to historic highs internationally. Spot gold surged past $5,400 an ounce on Monday, testing record levels as investors rushed into safe-haven assets amid fears of a prolonged regional conflict.

Will Closing of Strait of Hormuz and Crude Prices Hike Impact Gold Prices?

The risk-off sentiment was triggered by joint military strikes by the United States and Israel that reportedly killed Iran's Supreme Leader, sharply escalating hostilities with Iran. The fallout from the strikes has effectively shut the Strait of Hormuz, a critical global chokepoint through which nearly 20% of the world's oil supply passes.

As a result, crude oil prices spiked aggressively, reigniting fears of a fresh inflation wave across global economies.

"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," said Ross Maxwell, Global Strategy Operations Lead, VT Markets.

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