Gold Drops ₹8,000, Silver Plunges ₹24,000 in 10 Days as Global Tensions Shake Bullion Market
Gold and silver prices have sharply declined in the last ten days amid geopolitical tensions between the United States and Iran, significantly impacting bullion markets and prompting buyers to adopt a cautious wait-and-watch approach.
Jalgaon | March 10 2026: Escalating geopolitical tensions between the United States and Iran have triggered sharp volatility in bullion markets, with gold and silver prices witnessing a steep fall in the past ten days. The impact has been clearly visible in the jewellery market of Jalgaon, one of Maharashtra’s prominent trading hubs for precious metals.
According to traders in the local bullion market, gold prices have dropped by nearly ₹8,000 per 10 grams within a span of just ten days. On February 28, gold was trading at around ₹1,68,000 per 10 grams (excluding GST). By March 9, the price had slipped to nearly ₹1,60,000, reflecting a significant correction in the market.Silver witnessed an even steeper decline. The metal, which was priced at around ₹2,90,000 per kilogram ten days ago, has now fallen to approximately ₹2,66,000 per kilogram, marking a massive drop of nearly ₹24,000.
Market experts say the ongoing geopolitical conflict and fluctuations in global commodity markets have contributed to the sudden fall in prices. International uncertainty often drives volatility in precious metals, affecting domestic bullion markets as well. Despite the ongoing wedding season, jewellers say customer activity remains subdued. Many buyers are choosing to delay purchases, expecting further price fluctuations in the coming days. Traders report that consumers are closely monitoring the market before making large jewellery purchases.
In nearby Pune, bullion traders reported similar price trends, with 24-carat gold trading around ₹1,61,680 per 10 grams and 22-carat gold at about ₹1,48,200. Silver prices were reported near ₹2,80,000 per kilogram.Bullion dealers believe the market may continue to remain volatile depending on global developments and currency movements
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