Gold Prices Soar: Dollar Weakness Fuels International Rebound and Domestic Surge

Gold prices experienced a significant rebound on March 29, 2026, with international spot gold climbing to approximately $4,489.70 per ounce, marking a 2.59% increase. This surge was primarily driven by a weakening US dollar and a renewed interest in gold as a safe-haven asset following recent market corrections. Domestically in India, the precious metal saw a substantial jump, with prices increasing by around ₹2,510 per 10 grams, pushing the average price of 24K gold to ₹1.48 lakh per 10 grams.

Key Takeaways

• International spot gold prices rose by 2.59% to nearly $4,489.70 per ounce.
• A weaker US dollar and safe-haven demand are key drivers of the gold price increase.
• Domestic gold prices in India surged by approximately ₹2,510 per 10 grams.
• 24K gold in India now averages ₹1.48 lakh per 10 grams.

International Market Dynamics

International spot gold prices demonstrated a strong recovery, trading near $4,489.70 per ounce and surging by 2.59% in the latest session. The primary catalysts for this upward movement were the weakening of the US dollar and increased safe-haven buying, a trend often observed when investors seek stability amidst market volatility. The gold futures market also reflected this positive momentum, with prices showing a daily change of +2.55%.

Domestic Gold Prices in India

In India, the domestic gold market mirrored the international trend with a significant price hike. Prices increased by approximately ₹2,510 per 10 grams on March 29, 2026. Consequently, 24K gold (99.9% purity) is now averaging ₹1,48,090 per 10 grams, while 22K gold (91.6% purity) is priced at ₹1,35,750 per 10 grams, and 18K gold at ₹1,11,070 per 10 grams.

Domestic Gold Rates (India) – 29 March 2026

Note: Final costs at retailers typically include a 3% Goods and Services Tax (GST) and making charges ranging from 5% to 35%.

City-wise Gold Rates

Gold prices vary slightly across major Indian cities. For instance, on March 29, 2026, 24K gold per 10 grams was priced at ₹1,48,220 in Delhi, ₹1,48,090 in Mumbai, and ₹1,49,020 in Chennai. Similarly, 22K gold per 10 grams was trading at ₹1,35,900 in Delhi, ₹1,35,750 in Mumbai, and ₹1,36,600 in Chennai.

Gold Price Trends and Outlook

Looking at the broader trend for March 2026, gold prices have generally been on a falling trajectory, with a decrease of approximately 14.45% for 24K gold and 14.44% for 22K gold from the beginning of the month to the end. However, the short-term outlook suggests potential for further increases if the US dollar continues to weaken and geopolitical tensions persist, potentially pushing gold towards the $4,600 per ounce mark. Domestically, a weaker rupee and the approaching wedding season could also influence demand and prices.

Important Considerations for Buyers

When purchasing gold in India, buyers should be aware of additional costs. A 3% GST is levied on the value of gold purchases. Furthermore, making charges for jewelry can range significantly from 5% to 35%, depending on the intricacy of the design. Investors also have options like Gold ETFs or digital gold, which can help track market prices while avoiding making charges associated with physical jewelry.

Sources

• Gold Rate Today [29 March 2026]: Gold Rebounds 2.59% to $4,489; Domestic Rates Jump to ₹1.48 Lakh/10g, The Sunday Guardian.