Gold prices have recorded a sharp weekly rise across domestic markets, with 24-carat gold becoming ₹9,430 costlier in just one week. Silver has outperformed even further, witnessing a massive ₹20,000 surge during the same period. The rally reflects strong investor interest amid global uncertainty and rising geopolitical tensions.
On Friday, gold prices in the Delhi bullion market climbed by ₹1,800 to touch ₹1,64,700 per 10 grams. As of March 1, 2026, the rate of 24-carat gold in the national capital stands at ₹1,68,860 per 10 grams, while 22-carat gold is priced at ₹1,54,800 per 10 grams.
In the international market, spot gold is currently trading at $5,172.17 per ounce, indicating sustained global momentum.
Here are the latest gold rates across key cities:
Delhi:
22-carat: ₹1,54,800 per 10 grams
24-carat: ₹1,68,860 per 10 grams
Mumbai:
22-carat: ₹1,54,630 per 10 grams
24-carat: ₹1,68,710 per 10 grams
Chennai:
22-carat: ₹1,54,630 per 10 grams
24-carat: ₹1,68,710 per 10 grams
Kolkata:
22-carat: ₹1,54,630 per 10 grams
24-carat: ₹1,68,710 per 10 grams
Ahmedabad:
22-carat: ₹1,54,700 per 10 grams
24-carat: ₹1,68,760 per 10 grams
Hyderabad:
22-carat: ₹1,54,630 per 10 grams
24-carat: ₹1,68,710 per 10 grams
Jaipur:
22-carat: ₹1,54,800 per 10 grams
24-carat: ₹1,68,860 per 10 grams
Lucknow:
22-carat: ₹1,54,800 per 10 grams
24-carat: ₹1,68,860 per 10 grams
The steady climb in gold prices suggests strong demand both from retail buyers and investors looking for safe-haven assets.
Silver has posted an even stronger weekly performance. Over the past week, silver prices have jumped by ₹20,000 per kilogram. As of the morning of March 1, silver is trading at ₹2,95,000 per kilogram in domestic markets.
On Friday, silver prices in the Delhi bullion market had declined by ₹2,500, or nearly one percent, settling at ₹2,68,000 per kilogram. However, the broader weekly trend remains sharply upward.
In the global market, spot silver is currently priced at $89.72 per ounce.
It is worth noting that in January, silver had crossed the ₹4 lakh per kilogram mark, highlighting the metal’s high volatility and strong investor interest.
The recent surge in gold and silver prices is closely linked to escalating geopolitical tensions. On February 28, 2026, airstrikes were reportedly carried out by Israel and United States against Iran. In response, Iran launched missile and drone attacks targeting Israel, further intensifying the conflict. Reports also indicate strikes affecting multiple countries in the Middle East region.
Such geopolitical developments typically trigger volatility in global financial markets. During periods of uncertainty, investors tend to shift funds toward safe-haven assets like gold and silver. This flight to safety has historically supported precious metal prices.
Analysts believe that if tensions continue to escalate, precious metals could witness further upside. Increased global risk perception, currency fluctuations, and crude oil price movements may also influence future price trends.
Market experts suggest that gold and silver may remain supported in the short term as long as geopolitical uncertainty persists. However, price movements can remain volatile, especially in response to diplomatic developments or economic data releases.
For buyers planning wedding purchases or investment allocations, monitoring daily price trends and global cues remains essential. With gold and silver already posting significant weekly gains, market participants will closely track international developments and domestic demand patterns in the coming days.
