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Gold prices in India continued their downward trend on March 6, 2026, with both gold and silver becoming cheaper in major cities. The decline comes despite rising geopolitical tensions in the Middle East, which usually boost demand for safe-haven assets like gold.

According to market data, profit booking by investors at higher price levels has offset the increased demand for gold triggered by global uncertainties. As a result, precious metal prices have corrected after recent gains.

Gold Prices Decline in Major Cities

On the morning of March 6, the price of 24-carat gold in New Delhi dropped to around ₹1,63,020 per 10 grams, while the price of 22-carat gold stood at ₹1,49,440 per 10 grams.

In Mumbai, the price of 24-carat gold was about ₹1,62,870 per 10 grams, while 22-carat gold was priced at ₹1,49,290 per 10 grams.

Just a day earlier, on March 5, gold prices had already fallen sharply due to heavy profit booking in the bullion market. In Delhi, the price of gold dropped by around ₹7,600 or about 4.4 percent, bringing the rate down to approximately ₹1,65,200 per 10 grams.

Latest Gold Rates in Major Indian Cities

Here are the latest gold prices recorded in several major cities across India:

Prices may vary slightly depending on local taxes, making charges, and jewellers.

Geopolitical Tensions Impacting Gold Market

Global tensions have also influenced precious metal prices recently. Reports suggest that rising conflict between United States, Israel, and Iran has increased uncertainty in global markets.

Escalation in the region reportedly began after air strikes were carried out against Iran on February 28, followed by retaliatory missile and drone attacks targeting Israel and other areas in the Middle East.

Normally, such geopolitical conflicts push investors toward safe assets like gold. However, in the current situation, profit-taking by investors after recent price spikes has limited further gains.

Silver Prices Also Decline

Silver prices have also shown weakness in the domestic market.

On March 6 morning, the price of silver stood at around ₹2,84,900 per kilogram in India. A day earlier, silver prices in the Delhi bullion market had already witnessed a sharp correction of around ₹27,700 or 9.23 percent, bringing the price down to approximately ₹2,72,300 per kilogram.

In the international market, the spot price of silver was around $84.11 per ounce, reflecting volatility in global precious metal markets.

What Investors Should Watch

Market analysts say that gold and silver prices may remain volatile in the short term due to multiple global factors, including:

• Geopolitical tensions

• Profit booking by investors

• Currency fluctuations

• Central bank policies

For investors, precious metals continue to be viewed as long-term hedge assets, particularly during periods of economic uncertainty.