Synopsis: Domestic bullion prices faced a brutal correction on Friday, March 13, 2026, as a surge in the US Dollar and rising Treasury yields triggered massive profit-booking. Despite the escalating US-Iran conflict, MCX Gold slipped below the critical ₹1,60,000 mark, while Silver witnessed a staggering daily crash of ₹10,000 per kilogram across major Indian cities.
Gold Silver Price India: Metals Plunge on Friday the 13th
The sudden reversal in precious metals has caught many “safe-haven” investors by surprise. While geopolitical tensions typically drive gold higher, the current scenario is being dominated by a “liquidity crunch” and a resurgent Greenback.
With Brent crude flirting with $100, inflation fears are forcing the US Federal Reserve to keep interest rates “higher for longer,” making non-yielding assets like gold less attractive compared to the dollar.
City-Wise Retail Rates (March 13, 2026)
Retail prices have cooled significantly from the record highs seen earlier this month. Southern markets continue to command a premium due to higher cultural demand.
| City | 24K Gold (per 10g) | 22K Gold (per 10g) | Silver (per 1 kg) |
| Delhi | ₹1,61,390 | ₹1,47,930 | ₹2,80,000 |
| Mumbai | ₹1,61,240 | ₹1,47,800 | ₹2,79,900 |
| Chennai | ₹1,62,560 | ₹1,49,000 | ₹2,90,000 |
| Bangalore | ₹1,61,240 | ₹1,47,800 | ₹2,80,000 |
| Kolkata | ₹1,61,240 | ₹1,47,800 | ₹2,80,000 |
Why are Gold and Silver Falling Despite the War?
Analysts point to three “counter-intuitive” factors currently suppressing the bullion rally:
- The Dollar Dominance: The US Dollar Index has hit a 3-month high. When the dollar strengthens, gold becomes more expensive for international buyers, leading to a natural price cooldown.
- Margin Call Liquidity: With the global stock market crashing, institutional investors are liquidating their profitable gold and silver positions to cover “margin calls” and raise cash.
- Inflationary “Hawks”: Surging oil prices have revived fears that the Fed will not cut interest rates anytime soon. High interest rates are historically the “kryptonite” for gold prices.
Technical Outlook: Support and Resistance
Market experts suggest that the medium-term bullish structure remains intact as long as key support levels are held.
- MCX Gold (April): Currently trading near ₹1,59,600. Strong structural support is visible in the ₹1,56,000–₹1,57,000 zone. A breakout above ₹1,65,000 is needed to revive the march toward ₹1,80,000.
- MCX Silver (May): Trading near ₹2,63,000. The metal is in a “price discovery” phase. Key support lies at ₹2,60,000. If it holds, a move toward ₹2,80,000 remains possible in the longer term.
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