Gold and Silver Price Crash: Delhi Bullion Market Sees Sharp Fall — Is This the Start of a Bigger Trend?
The Gold and Silver Price Crash continued to grab attention in the bullion market as precious metals recorded a sharp decline in the national capital. In the opening of last week, predictions of the gold and silver market showed a fall of up to 4 percent in the national capital on Friday, March 13, 2026.
In the last few blogs, we have been watching a decline in precious metals. Though it could be for a short term, it has already become a reason for big losses for investors who recently entered the market expecting a rally.
Amid global tensions, gold and silver prices declined in the bullion market in Delhi. Gold prices dropped significantly, while silver also witnessed a steep fall. Reports indicate that gold has fallen by ₹11,000, while silver has declined by nearly ₹20,000, sending shockwaves across the precious metals market.
Silver Prices Fall Sharply: Is the Gold and Silver Price Crash Temporary?
The impact of the Gold and Silver Price Crash was clearly visible in silver prices across major Indian cities.
On March 15, 2026, the price of silver was ₹2,75,000 per kilogram. However, on Friday the price of silver in the Delhi bullion market fell by ₹11,000 or 3.97 percent, reaching ₹2,65,500 per kilogram.
In the international market, the spot price of silver was $83.14 per ounce. Earlier this year, in January, the price of silver had even crossed the ₹4 lakh mark, making the current fall even more noticeable for investors.
Silver Rates in Major Cities
| City | Silver Rate per 10g (₹) | Silver Rate per 100g (₹) | Silver Rate per kg (₹) |
|---|---|---|---|
| Delhi | 2,750 | 27,500 | 2,75,000 |
| Mumbai | 2,750 | 27,500 | 2,75,000 |
| Kolkata | 2,750 | 27,500 | 2,75,000 |
| Chennai | 2,800 | 28,000 | 2,80,000 |
Market analysts believe that despite the current weakness, silver may show a short-term bullish movement during the week. If the price reaches around ₹3,00,000, the next rally target could be ₹3,25,000, while the major support level remains near ₹2,50,000.
Gold Prices Under Pressure During Gold and Silver Price Crash
The Gold and Silver Price Crash was also reflected in gold prices.
Gold of 99.9 percent purity in the bullion market fell by 1.21 percent, closing at ₹1,63,200 per 10 grams. In the previous session, the price had closed around ₹1,65,200 per 10 grams.
Gold prices in the domestic market remained under pressure mainly due to a strong US dollar and changing expectations regarding monetary policy easing.
Rising geopolitical tensions also played a role. Due to increasing conflict in West Asia, crude oil prices have surged sharply, raising fears of higher inflation worldwide. Because of this, central banks may be forced to maintain a tight monetary stance for a longer period, which can impact precious metals demand.
Latest Gold Rates in Major Indian Cities
| City | 22 Carat Gold (₹) | 24 Carat Gold (₹) |
|---|---|---|
| Delhi | 1,47,440 | 1,59,810 |
| Mumbai | 1,46,350 | 1,60,730 |
| Ahmedabad | 1,47,340 | 1,59,660 |
| Chennai | 1,46,350 | 1,59,660 |
| Kolkata | 1,46,350 | 1,59,660 |
Market observers say that gold price in India for March 16, 2026 may turn bullish for the short term if the metal manages to stay above ₹1,40,000–₹1,50,000 per 10 grams.
What Investors Should Watch Next
Despite the ongoing Gold and Silver Price Crash, experts believe the current movement could be temporary and part of a short-term market correction. However, volatility in global markets, currency movements, and geopolitical tensions may continue to influence prices in the coming weeks.
We are continuously trying to bring the latest updates on gold and silver prices, but investors and buyers should remain cautious while trading or purchasing precious metals during this period.
Disclaimer: This article is published for informational purposes only. Gold and Silver Prices are subject to market risks and real-time fluctuations. Readers are advised to verify rates from official or local bullion sources before making any financial decisions. The website is not responsible for any loss or damage arising from the use of this information.
