New Delhi, India — March 11, 2026
Prices of precious metals saw notable volatility on Wednesday as geopolitical developments in West Asia influenced global commodity markets. Gold and silver both opened lower after recent gains, reflecting cautious trading sentiment.
In early trade, silver prices fell by ₹1,540 to around ₹2.75 lakh per kilogram, while gold declined by ₹560 to approximately ₹1.63 lakh per 10 grams in the domestic market.
Analysts say the fluctuations are linked to rising uncertainty in global energy markets amid the ongoing conflict in the Middle East.
Domestic Gold and Silver Prices in India
Despite the broader market decline, retail prices in New Delhi showed minor upward adjustments.
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24-carat gold: Up by ₹10 per 10 grams
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22-carat gold: Up by ₹10 per 10 grams
Over the past two trading sessions, gold prices have shown strong momentum:
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24-carat gold: Increased by ₹710 per 10 grams in two days
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22-carat gold: Rose by ₹660 per 10 grams during the same period
Silver prices have also demonstrated strength in the capital market. After a brief dip earlier, the metal has gained about ₹10,100 per kilogram over the last two days, indicating renewed buying interest.
Global Gold and Silver Market Update
In international trading during Asian market hours, precious metals also showed mild declines.
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Spot gold slipped 0.34% to around $5,224 per ounce, though it remained above the key $5,200 level.
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Spot silver declined 0.32% to approximately $89.35 per ounce.
Market analysts note that geopolitical tensions and energy price movements continue to influence investor demand for safe-haven assets like gold and silver.
Impact of Middle East Developments
According to a report cited by Bloomberg, recent comments from the White House affected market sentiment.
Officials clarified that the United States had not escorted oil tankers passing through the Strait of Hormuz, responding to a social media post that was later removed.
Following this clarification, oil prices rebounded after a sharp drop earlier in the week.
Meanwhile, the ongoing regional conflict — now entering its 12th day — continues to affect oil production and refining activities across the Middle East, adding to volatility in global commodity markets.
Market Outlook
Commodity experts believe precious metal prices may remain volatile in the near term as investors track developments in global energy markets and geopolitical tensions.
Gold traditionally serves as a safe-haven investment during periods of uncertainty, and analysts say continued instability could keep demand strong despite short-term price fluctuations.
