Gold Price Today: As markets opened today, Monday, March 16, precious metals witnessed a sharp decline in early trading. On the Multi Commodity Exchange of India (MCX), gold April futures fell by more than 1%. The contract dropped ₹1,800, or 1.14%, to ₹1,56,655 per 10 grams in early deals. Silver prices also saw heavy selling pressure, with MCX silver May futures sliding over ₹4,300, or 1.7%, to ₹2,55,101 per kg at the opening of the session.
In COMEX, spot gold prices also weakened during as the market opened, declining by more than 1% and briefly slipping below the $5,000 level. The yellow metal touched an intraday low of $4,971.30 on Monday. At the same time, spot silver prices dropped 2.23% to $79.5 per ounce on March 16 on the COMEX
GOLD PRICE TODAY: KEY EVENTS OF THE DAY, AND DAILY NEWS
Key Events of the Day
Monday, March 16, 2026 06:45 PM – United States
Industrial Production (YoY) – February
Manufacturing Production (MoM) – February
Trump says his trip to China could be delayed
Donald Trump has hinted that the planned summit in Beijing could be postponed as the United States pushes China to help restore shipping through the Strait of Hormuz. In an interview with the Financial Times on Sunday, Trump said he expects China to support efforts to reopen the crucial maritime route before he travels to Beijing for talks with Chinese President Xi Jinping.
Both countries appear to be increasing pressure ahead of the highly anticipated meeting. However, available data suggests that China may not be as vulnerable to disruptions in the Strait of Hormuz as Trump has indicated.
Meanwhile, discussions held in Paris are aimed at preparing proposals that could be reviewed by Trump and Xi during their upcoming meeting in Beijing. Sources familiar with the talks say China is willing to consider boosting purchases of U.S. agricultural products. The two sides are also examining new frameworks to better manage trade and investment relations between the United States and China.
Trump Signals Possible U.S.–Cuba Deal Soon
Donald Trump said on Sunday that the United States could soon reach an agreement with Cuba or take alternative steps, indicating that changes in the long-strained relationship between the two countries may happen soon.
Speaking to reporters aboard the presidential aircraft Air Force One, Trump said Cuba is also interested in striking a deal. He added that negotiations are ongoing, but noted that the U.S. is prioritizing matters related to Iran before finalizing any agreement with Cuba.
China’s Industrial Data was released
China reported stronger-than-expected economic indicators, with both factory activity and consumer spending surpassing forecasts, while the downturn in property investment showed early signs of stabilizing.
Retail sales in the first two months of the year rose 2.8% year-on-year, reflecting a modest improvement in consumer demand. Meanwhile, industrial production increased 6.3%, beating market expectations of a 5% rise.
Fixed-asset investment, which includes the property sector, recorded 1.8% growth compared with the same period last year. At the same time, the urban unemployment rate slightly increased, reaching 5.3% during the first two months of the year.
Dubai suspended flights
Dubai temporarily suspended flights at its main international airport after a drone strike hit nearby facilities, disrupting the aviation hub’s efforts to restore normal operations as the Iran conflict entered its third week.
Decline in US Treasury
The United States Treasury market has erased all of its gains for the year as the conflict-driven surge in oil prices raises investor concerns about rising inflation and slowing economic growth.
A Bloomberg index that tracks Treasury performance has turned negative for the year after declining 1.7% since the end of February. The drop reflects increasing fears of stagflation, which have pushed bond yields higher and led Wall Street analysts to reduce expectations for interest rate cuts in the U.S. over the next year.
Low Chance in Interest Rate Cuts in Fed’s Meeting
As the conflict continues, expectations for an interest rate cut have weakened. Recent consumer spending data from the United States released on Friday showed only a slight increase in spending in January, indicating weaker-than-expected economic growth even before the war began.
At the same time, U.S. consumer sentiment dropped to a three-month low, as concerns intensified in recent weeks about the potential impact of the conflict on gasoline prices.
GOLD PRICE TODAY: EXPERT OPINION OF THE DAY
Manoj Kumar Jain, Director Prithvi Finmart, a senior financial market expert, said:
“Gold and silver prices fell last week amid strong gains in the dollar index and the U.S. 10-year bond yields. Inflation worries due to higher crude oil prices are supporting the U.S. dollar and bond markets and limiting gains of precious metals. Gold and silver prices fell second straight week amid fears of hawkish stance of the global central banks due to higher energy and commodity prices could leads inflation. The Fed interest rate cuts possibility also easing after the U.S. inflation remains above the U.S. Fed’s target rate of 2.0%. Only easing wars in the West Asia could support gold and silver prices.”
Manoj Kumar Jain View for Today (For Gold and Silver) | 16/03/2026
“We are experiencing very high price volatility in both precious metals but silver prices could hold its support level of $68.00 per troy ounce and gold prices could also hold its support level of $4,884 per troy ounce on a closing basis this week.
We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, volatility in crude oil prices and US-Iran war. Gold has support at $5015-4974 while resistance at $5100-5145 per troy ounce and silver has support at $78.00-74.40, while resistance is at $84.00-86.40 per troy ounce in today’s session.
At MCX, gold is having support at 157200-155500 and resistance at 159800-161100 while silver is having support at 255500-248800 and resistance at 263000-267700.
We suggest traders must wait for some stability in the markets for taking fresh positions while long-term investors can accumulate in SIP mode in the markets dips.”
Kedia Commodity View for Today (For MCX Gold) | 16/03/2026:
“From a technical perspective, the market is witnessing fresh selling pressure, with open interest rising 0.26% to 7,844 lots while prices declined by ₹1,805. Immediate support is seen near ₹157,115, and a break below this level could push prices toward ₹155,760. On the upside, resistance is likely around ₹160,250, and a sustained move above this level may lead to a test of ₹162,030.”
Kedia Commodity View for Today (For MCX Silver) | 16/03/2026:
“From a technical perspective, the market is witnessing long liquidation, with open interest falling 0.88% to 5,889 lots while prices dropped by ₹8,527. Immediate support is seen at ₹252,875, and a break below this level could push prices toward ₹246,320. On the upside, resistance is likely near ₹267,585, and a sustained move above thislevel may lead to a test of ₹275,740.”
SMC Global View for Today (For COMEX Gold and Silver) | 16/03/2026:
“COMEX gold is currently facing resistance near $5,240 while strong support is seen around $4,980. A breakout on either side could determine the next directional trend in the metal. Silver prices are expected to trade in the range of $71.00–$78.00.”
SMC Global View for Today (For MCX Gold and Silver) | 16/03/2026: :
“On MCX, gold may trade between ₹153,000 and ₹160,000 in the coming week, while silver islikely to move within the ₹240,000–₹279,000 range.”
Gold Price Today: FAQs
1. Why did gold prices fall today?
Gold prices declined due to a stronger U.S. dollar, rising U.S. Treasury yields, and easing expectations for interest rate cuts by the U.S. Federal Reserve. Geopolitical tensions and rising crude oil prices have also increased inflation concerns.
2. What were the MCX gold and silver prices today?
On the Multi Commodity Exchange of India, gold April futures fell to ₹1,56,655 per 10 grams, while silver May futures dropped to ₹2,55,101 per kg during early trading on March 16, 2026.
3. How did international gold prices perform?
In global markets, spot gold slipped below the $5,000 level and touched an intraday low of $4,971.30, while spot silver declined to $79.5 per ounce on the COMEX.
4. What global events are affecting gold and silver markets?
Several factors are influencing prices, including tensions involving Iran, stronger economic data from China, and geopolitical developments related to talks between the United States and China.
5. What is the outlook for gold and silver this week?
Analysts expect continued volatility. Key support levels for gold are near $4,974–$5,015, while resistance lies around $5,100–$5,145. Silver may trade within $74–$86 per ounce, depending on movements in the dollar index and crude oil prices.
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