Spot gold prices and Gold in the futures market have dropped in recent times

In India, during the last three days, spot gold and gold in the futures market have lost significant ground. Spot gold has dropped from Rs 160,000 on 17 March to the current levels of Rs 148,000 for 24 Karats as on 20 March 2026.

Interest rates are expected to stay high, making gold less attractive compared to interest-paying assets.  At the same time, a strong US dollar has reduced global demand. Rising oil prices are also delaying rate cuts, and investors are shifting toward the dollar instead of gold. Additionally, some profit booking after recent highs has added to the decline

Muthoot Finance is India’s largest gold loan non-banking financial company, specialising in loans secured against gold jewellery. Kalyan Jewellers is a leading Indian jewellery retailer founded in 1993 by T. S. Kalyanaraman and headquartered in Thrissur, Kerala. Also, the stock of Kalyan Jewellers has jumped 3.5% in trade as gold prices have fallen. And, the next to watch out for is Senco Gold, another Indian jewellery company and brand that sells gold, diamonds, and precious jewellery across India.