Huge Crash in Gold Rate in India By Rs 1.43 Lakh in Just 7 Days; Will Gold Price Today Fall Further on 23 Mar?

Gold prices in India saw a sharp correction over the past week, with domestic retail rates falling steeply even as the latest MCX session showed a mild recovery. In the seven days between March 16 and March 22, 2026, 24 Karat (24K) gold in India declined by Rs 1,435 per gram, dropping from Rs 15,742 to Rs 14,597. On a 100-gram basis, that translates to a fall of Rs 1,43,500.

Huge Crash in Gold Rate in India By Rs 1.43 Lakh in Just Seven Days

During the same period, 22K gold dropped by Rs 1,050 per gram, from Rs 14,430 to Rs 13,380, which means a decline of Rs 1,31,500 per 100 grams. The latest day-on-day move was also weak, with 24K gold falling by Rs 294 per gram and 22K by Rs 275 per gram.

Gold Rate Today: Check Latest 22K, 24K & 18K Gold Prices Per Gram

24 Karat Gold Rate Today in India

As per the latest retail rates in India, 24K gold is priced at Rs 14,597 per gram, Rs 1,45,970 per 10 grams and Rs 14,59,700 per 100 grams.

22 Karat Gold Rate Today in India

Meanwhile, 22K gold stands at Rs 13,380 per gram, Rs 1,33,800 per 10 grams and Rs 13,38,000 per 100 grams.

18 Karat Gold Rate Today in India

Rates for 18K gold have also moved lower, with the metal quoted at Rs 10,948 per gram, Rs 1,09,480 per 10 grams and Rs 10,94,800 per 100 grams.

Latest Spot Gold Price

The weakness in domestic gold rates mirrors the broader decline in global bullion prices. Gold tumbled 2 per cent to $4,570 an ounce on Friday and is headed for its biggest weekly fall since 1983.

Latest MCX Gold Price

Even so, the Indian futures market showed some resilience in the latest session. MCX Gold for the April 2, 2026 expiry, quoted per 10 grams, opened at Rs 1,48,302 and fell sharply to an intraday low of Rs 1,43,385 before recovering. It later touched a high of Rs 1,48,457, while the last traded price stood at Rs 1,44,825. The contract finally settled at Rs 1,44,492, up Rs 333 or 0.23 per cent from the previous close.

Why Gold Prices Are Falling? Know All Key Factors Impacting The Yellow Metal

As per commodities market experts, the decline has been driven by rising tensions in the Middle East, which have pushed energy prices higher and triggered fresh concerns that inflation may remain elevated for longer.

That, in turn, has reduced hopes of near-term interest rate cuts and even led traders to price in a 50 percent chance of a US Federal Reserve rate hike by October.

Reports that the Pentagon is deploying three warships and thousands of Marines to the region added to market anxiety. Instead of supporting gold as a safe-haven asset, the latest phase of the crisis has hurt bullion because investors are also reacting to surging

Treasury yields and a stronger US dollar. Profit-taking has added to the pressure, with traders unwinding gold positions to cover losses in other asset classes.

Gold Price Prediction Ahead: Check Technical Analysis

Market experts believe gold may remain volatile in the near term. According to Jigar Trivedi, Senior Research Analyst, Currencies and Commodities at IndusInd Securities Ltd, Comex Gold has support in the $4,500-$4,400 an ounce zone, while $4,700 remains a key resistance level.

For MCX Gold April, he sees a strong floor near Rs 1,42,000 per 10 grams, whereas Rs 1,47,000 per 10 grams is likely to act as resistance.

The broader outlook for gold in India now depends on how global risk factors evolve. If geopolitical tensions continue to lift crude oil and inflation expectations, bullion could remain under pressure because higher inflation may keep central banks hawkish. At the same time, any fresh escalation in global uncertainty could still trigger safe-haven buying, which means gold may continue to witness sharp swings rather than a one-way move.

For Indian buyers, the recent correction may offer some relief after an extended period of record-high prices.

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