Gold Falls Below Rs 1.6 Lakh Per 10 Grams (March 13), Check 22K & 24K Rates Per Gram In Cities

24K & 22K Gold Price Today: Gold prices edged lower in futures trade on Friday, declining by Rs 992 to around Rs 1.59 lakh per 10 grams, as a firmer US dollar and weak global cues weighed on investor sentiment.

On the Multi Commodity Exchange (MCX), gold futures for April delivery dropped Rs 992, or 0.62 per cent, to Rs 1,59,279 per 10 grams, with a trading volume of 7,891 lots.

Market experts attributed the decline to strength in the US dollar, which tends to reduce the appeal of bullion for buyers holding other currencies.

“Gold is currently consolidating as markets balance macroeconomic headwinds with geopolitical risk,” said Renisha Chainani, Head of Research at Augmont.

The dollar index, which measures the greenback against a basket of six currencies, was trading 0.5 per cent higher at 100.23, adding pressure on precious metals in overseas markets.

Chainani noted that the stronger dollar has capped gains in bullion, while persistent inflation concerns linked to the Iran conflict have dampened expectations of an immediate rate cut by the US Federal Reserve.

Analysts said traders are closely monitoring geopolitical developments in West Asia as well as macroeconomic signals that could shape the Fed’s monetary policy trajectory.

In global markets, Comex gold futures for the April contract declined $31.69, or nearly 1 per cent, to $5,094.11 per ounce.

Despite the near-term weakness, Chainani said gold remains in a consolidation phase and could move towards $5,250 per ounce in the short term, translating to roughly Rs 1.63 lakh per 10 grams in the domestic market.

She added that prices may even climb towards $5,300 per ounce, around Rs 1.65 lakh per 10 grams, if geopolitical tensions intensify and safe-haven demand strengthens.

Traders noted that Gold Rates in India  fell, with Gold prices in Delhi and other key metros reflecting the latest decline.

Gold Rates Across Major Cities In India On March 13