New Delhi: Gold prices registered a marginal increase on March 11, while silver prices declined in the domestic bullion market, according to data released by the India Bullion and Jewellers Association (IBJA).
The price of 24-carat gold rose by Rs 505 to Rs 1.61 lakh per 10 grams. On the previous trading day, the metal had been priced at around Rs 1.60 lakh per 10 grams.
In contrast, silver recorded a decline. The price of one kilogram of silver fell by Rs 1,886 to Rs 2.69 lakh, compared with Rs 2.71 lakh per kilogram on Tuesday.
Analysts say gold continues to attract strong demand globally, particularly from central banks and institutional investors.
According to investment bank UBS, central banks worldwide purchased around 863 tonnes of gold in 2025. The firm expects global purchases to increase further to about 950 tonnes in 2026.
UBS also forecasts a rise in investments in gold exchange-traded funds (ETFs), which could reach around 825 tonnes this year.
The bank said gold prices could climb further in 2026 and may reach as high as $6,200 per ounce by the middle of the year. In Indian currency terms, that would translate to around Rs 1.80 lakh per 10 grams.
Gold holdings among Indian households also remain significant. According to a report by Morgan Stanley, Indian households collectively hold around 34,600 tonnes of gold.
The total value of this gold is estimated to exceed $5tn, or about Rs 450 lakh crore, which is higher than India’s gross domestic product of approximately $4.1tn.
Market analysts say the increase in gold prices over the past year has significantly boosted the value of household gold holdings across the country.
In international markets, gold is currently trading above $4,500 per ounce. Converted into Indian currency, this is roughly equivalent to about Rs 1.30 lakh per 10 grams.
