Gold Silver Rate Today Live Updates (23 March, 2026): Silver hits lower circuit, plunges 11%; gold drops 7% on MCX as crude surge rattles metals Gold and silver prices fell sharply on Monday, driven by rising inflation fears, elevated oil prices, and growing expectations of global interest rate hikes. The decline was marked by a sharp selloff on the Multi Commodity Exchange (MCX), where gold futures for April delivery dropped Rs 8,089, or 5.6%, to Rs 1.36 lakh per 10 grams. Internationally, gold prices also slid over 5%, reaching their weakest level of 2026 and posting its worst weekly performance in decades. Silver prices mirrored the trend, hitting their lower circuit on MCX and falling Rs 20,409, or 9%, to Rs 2.06 lakh per kilogram. Analysts attributed the sharp decline to a combination of macroeconomic pressures, profit-booking, and liquidity-driven selling. The slump was exacerbated by surging oil prices, which intensified inflation concerns and shifted investor sentiment toward anticipating delayed interest rate cuts. A stronger US dollar and rising Treasury yields further pressured bullion, increasing holding costs and making dollar-denominated metals more expensive for global buyers. The decline in gold and silver came amid escalating tensions in the Middle East, which pushed oil prices higher and fueled inflation fears. These factors reduced the appeal of non-yielding assets like gold, which has traditionally served as a safe-haven investment. However, the selloff highlighted the growing influence of macroeconomic forces over traditional safe-haven demand. Gold ETFs also faced significant declines, with prices dropping up to 9% as higher crude oil prices and geopolitical tensions raised inflation expectations.#gold_prices #comex #multi_commodity_exchange #silver_prices #geojit_investments_ltd
