Patna: Gold and silver prices declined for the second consecutive trading session as geopolitical tensions linked to Iran triggered volatility in global commodity markets.
According to data released by the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold dropped by Rs 1,963 to Rs 1.56 lakh per 10 grams. In the previous session on March 13, the metal was trading at around Rs 1.58 lakh per 10 grams.
Silver also recorded a sharp fall. The price of one kilogram of silver declined by Rs 7,695 to Rs 2.53 lakh, compared with Rs 2.60 lakh per kilogram in the previous trading session.
Over the past two trading days, gold has fallen by Rs 3,867 while silver has dropped by Rs 15,508. On March 12, gold was priced at about Rs 1.60 lakh per 10 grams and silver at Rs 2.68 lakh per kilogram.
Precious metal prices have experienced significant fluctuations this year. On December 31, gold was priced at around Rs 1.33 lakh per 10 grams before rising to a peak of Rs 1.76 lakh on January 29. Since then, gold has become cheaper by about Rs 19,685.
Silver has seen even sharper corrections. The metal was trading at around Rs 2.30 lakh per kilogram on December 31, 2025, before surging to an all-time high of Rs 3.86 lakh on January 29. In the 46 days since that peak, silver prices have declined by approximately Rs 1.33 lakh.
Market analysts say the decline reflects volatility in global markets amid geopolitical developments involving Iran, which have influenced demand for precious metals and triggered short-term price corrections.
