Gold prices in India during mid-March 2026 have shown fluctuations amid the ongoing West Asia conflict that began on February 28 with US-Israeli military actions against Iran. While geopolitical tensions typically boost gold as a safe-haven asset, prices have remained relatively stable in this case. However, on Monday, gold prices saw a notable decline as international bullion markets recorded losses for the fourth consecutive week, with both gold and silver dropping by 12–17% so far in March. As of March 23, 2026, the price of 24K gold stands at ₹14,002 per gram, down by ₹595, while 22K gold is priced at ₹12,835 per gram (down ₹545) and 18K gold at ₹10,502 per gram (down ₹446). While 24K gold is primarily preferred for investment due to its higher purity, 22K and 18K variants are commonly used for jewellery. Gold prices in India are influenced by global market trends, import duties, taxes, currency fluctuations, and rising crude oil prices, particularly due to disruptions like the Strait of Hormuz situation, which also impacts fuel and precious metal prices.
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