Gold prices today fell on Monday as rising energy costs and inflation concerns reduced expectations of US interest-rate cuts, while geopolitical tensions involving the US, Israel, and Iran escalated.
MCX Gold Rates and Market Performance
MCX gold rate for April futures contracts opened lower by ₹1,225, or 0.77%, at ₹1,57,241 per 10 grams compared to its previous close of ₹1,58,466. The precious metal extended losses after opening lower, trading down by 0.82%. Analysts say these declines in gold prices today reflect cautious investor sentiment amid global uncertainties.
Gold’s Recent Growth
Despite recent declines, gold prices today remain significantly higher than a year ago. Last year, gold experienced its strongest bull run since 1979, rising over 75%. In India, the yellow metal climbed from ₹135,257 in early January 2026 to ₹157,480 by mid-March, marking an appreciation of around 16%. This shows that while short-term fluctuations occur, gold continues to be a strong safe-haven investment.
Also read : Gold Price Today: March 14 Update – Latest Rates in Delhi, Mumbai, Chennai & More
Gold Rates Across Major Indian Cities
Retail gold is typically available in 24-karat, 22-karat, and 18-karat purity. Here’s a look at gold prices today across major Indian cities on 16 March 2026:
Mumbai:
- 24K: ₹1,57,090/10 gm
- 22K: ₹143,999/10 gm
- 18K: ₹117,818/10 gm
Kolkata:
- 24K: ₹156,810/10 gm
- 22K: ₹143,743/10 gm
- 18K: ₹117,608/10 gm
New Delhi:
- 24K: ₹156,740/10 gm
- 22K: ₹143,678/10 gm
- 18K: ₹117,555/10 gm
Bengaluru:
- 24K: ₹157,140/10 gm
- 22K: ₹144,045/10 gm
- 18K: ₹117,855/10 gm
Chennai:
- 24K: ₹157,470/10 gm
- 22K: ₹144,348/10 gm
Outlook for Investors
Market experts note that while gold prices today have seen a dip, the metal remains a preferred hedge against inflation and global uncertainty. Investors are advised to monitor international events, currency fluctuations, and domestic demand trends for better decision-making.