Gold, silver rate crash today LIVE: The gold and silver prices recovered after taking a sharp beating on Monday, March 23, after US President Donald Trump signalled a thaw in the Middle East conflict.
Gold prices tumbled as much as 10% in the domestic futures market on the MCX to below ₹130,000 per 10 grams. However, they recovered and were trading 4% lower. Meanwhile, silver futures tanked almost 12% and slipped below ₹2,00,000 lakh at day’s low and were also off lows and trading down 3%.
Trump said he had asked the Department of Defence to postpone “any and all” military strikes against Iranian power plants and energy infrastructure for five days, suggesting a thaw in Middle East tensions.
If there is any meaningful de-escalation in geopolitical tensions and clarity on rate cuts, gold could witness a sharp recovery, with $5000 not ruled out on the upside, said Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities. Request you to please incorporate his views in your story.
Why are gold and silver prices falling?
That said, gold and silver prices have erased 2026 gains amid the Middle East conflict. The steep decline is being attributed to rising inflation concerns and a surge in crude oil prices, which have weighed on the global economic outlook. Additionally, a stronger US dollar and higher bond yields have triggered liquidity-driven selling, reducing gold’s appeal as a safe-haven asset.
Analysts note that the sell-off has been driven largely by forced liquidation and cash-raising by institutional investors, particularly from the Gulf region. In times of heightened uncertainty, investors often sell highly liquid assets like gold to raise cash, rather than holding them as safe havens.
This should not be interpreted as a failure of gold as a hedge, but rather as a phase where liquidity stress temporarily overrides its defensive appeal, said Anindya Banerjee, Head of Commodity and Currency Research, Kotak Securities.
Track this space for LIVE updates on gold, silver prices crash today
