Gold and silver price on March 20: Gold rate hit new high as US Fed holds rates; check prices in your city

Continuing their rally for a third day, gold prices hit new record highs in major cities in India on Thursday, March 20, as the US Federal Reserve left the interest rates unchanged as expected, but hinted at two rate cuts by the end of this year.

The 24K gold rose by ₹10 to hit an all-time high of ₹90,450 per 10 grams and the 22K gold to ₹82,910 per 10 grams in major Indian cities. Gold prices had closed at the ₹90,000 mark for the first time on Tuesday this week after jumping up to ₹440 per 10 grams. On Wednesday, it rallied further to hit another record high of ₹90,010 per 10 grams.

Meanwhile, spot gold rose 0.2% to $3,052.92 an ounce (as of 0030 GMT) after hitting an all-time high of $3,055.31 per ounce earlier in the session.

The Fed announced, on Wednesday, to hold its benchmark overnight rate steady in the 4.25-4.5% range. However, policymakers expected two quarter-percentage-point rate cuts by the end of this year. Fears over economic volatility worsened as Fed officials adjusted their inflation outlook upward for this year, while also downgrading the forecast for economic growth after the implementation of tariffs by the Donald Trump administration.

Gold Price Today in India (March 20, 2025)

In Delhi markets, 24K gold traded at ₹90,450 per 10 grams and 22K gold at ₹82,910 per 10 grams, up by ₹10 over the last close.

Gold Price Today in Major Cities

Silver Price Today in India (March 20, 2025)

Silver prices rose by ₹100 to hit a lifetime high of ₹1,05,100 per kg in major cities in India on Thursday even as global prices fell. Spot silver fell 0.7% to $33.79 an ounce in early Asian trade on Thursday.

Silver Price Today in Major Cities:

Comparison of Gold and Silver Prices This Week

Showing a strong upswing, gold prices have been rising for the past three days as global prices rallied after the Fed acknowledged that the economic outlook is uncertain due to the US trade policies.

Domestic silver prices have also scaled new highs on account of a weak dollar this week, but the quantum of increase has not matched the pace of a rally in gold prices.

Here’s a comparison of gold and silver prices from earlier this week: