New Delhi: Gold rates decline on March 7, 2025, reflecting shifts in global economic conditions and investor sentiment. The drop in prices is driven by various factors, including international market trends, central bank policies, and domestic demand fluctuations. Investors and traders are closely monitoring these developments to assess the impact on future investments.
Also Read: Today Gold Rate 06-03-2025: Check Latest Prices in Your City
Gold Rates Decline Across Major Indian Cities
As of today, gold prices have dropped slightly across India’s major cities. The latest price updates for 24-carat and 22-carat gold are as follows:
24-Carat Gold Prices (Per 10 Grams):
- Delhi – ₹87,630
- Mumbai – ₹87,480
- Chennai – ₹87,480
- Kolkata – ₹87,480
22-Carat Gold Prices (Per 10 Grams):
- Delhi – ₹80,340
- Mumbai – ₹80,200
- Chennai – ₹80,200
- Kolkata – ₹80,200
These figures indicate a marginal decrease compared to the previous day’s rates. The drop in domestic prices is attributed to global market fluctuations and reduced demand.
Why Gold Rates Declined Today
Several key factors have contributed to the decline in gold rates today:
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Global Market Trends: Spot gold prices declined by 0.22% in early Asian trading, settling at $2,904 per ounce. The weakening trend reflects cautious trading due to anticipated economic data releases.
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Domestic Demand Slows: The rising domestic gold prices, hovering near ₹85,860 per 10 grams, have led to reduced purchases. Jewellers are slowing down orders as the financial year-end approaches.
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Central Bank Policies: China’s central bank increased its gold reserves for the fourth consecutive month, now holding 73.61 million fine troy ounces. This accumulation has prevented a sharper price drop.
Gold Rates Decline Impacts Silver Prices
Alongside gold, silver prices have also been affected by market trends. Current silver rates are:
- Delhi – ₹99,100 per kg
- Mumbai – ₹99,100 per kg
- Chennai – ₹108,100 per kg
- Kolkata – ₹99,100 per kg
These figures indicate minor fluctuations in the silver market. Investors are advised to track silver alongside gold for better portfolio management.
Financial Sector Sees Rise in Gold-Backed Loans
Gold-backed loans have seen a significant rise due to higher gold prices and economic uncertainty.
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Loan Growth: The demand for gold-backed loans has surged, reflecting economic pressures and liquidity concerns.
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Regulatory Action: The Reserve Bank of India (RBI) is implementing stricter policies to ensure transparency and ethical lending practices in the gold loan sector.
Conclusion
Gold rates decline today, influenced by global market shifts, domestic demand trends, and policy measures. Investors must remain vigilant as financial institutions and central banks react to these changes. Tracking gold price trends will be crucial for both investors and consumers in the coming months.
