Gold Price Today: Gold and silver prices declined on March 9 2026, tracking global weakness as the U.S. dollar strengthened and energy prices rose, fueling concerns about higher inflation. On the Multi Commodity Exchange (MCX), silver fell 1.3% to Rs 2,64,747 per kg, while gold dropped 1.1% to Rs 1,59,826 per 10 grams.
In the international market, COMEX spot prices also recorded sharp declines during Asian trading hours on Monday. Spot gold slipped 2.12% to USD 5,049 per ounce, while spot silver plunged 3.51% to USD 81.34 per
GOLD PRICE TODAY: DAILY NEWS | 09/03/2026
Oil Surges Past $100 as Middle East Tensions Rise
Oil prices climbed above $100 per barrel as tensions in the Middle East intensified. U.S. President Donald Trump described the surge as a “small price to pay” in the effort to defeat Iran.
OPEC Output Falls
At the same time, three major OPEC producers — Iraq, Kuwait, and the United Arab Emirates — have scaled back oil production after exhausting their available storage capacity. Their ability to export crude has also been disrupted, as shipments through the Strait of Hormuz have been hindered by Iranian threats against oil tankers.
U.S.–Iran Conflict Intensifies
Meanwhile, the U.S. military campaign targeting Iran shows no clear signs of slowing down. Reports have also suggested that Iran has appointed Mojtaba Khamenei, the son of Ayatollah Ali Khamenei, as the country’s new Supreme Leader.
China and Uzbekistan Add to Gold Reserves, Continuing Central Bank Buying Trend
The People’s Bank of China increased its gold reserves by 1 tonne in February, extending its gold-buying streak to 16 consecutive months. Following the latest addition, China’s total gold holdings stand at around 2,308 tonnes.
Meanwhile, data from the Central Bank of Uzbekistan shows that the country added 8 tonnes of gold in February. With this increase, Uzbekistan’s year-to-date net purchases have reached 16 tonnes, raising its total gold reserves to approximately 407 tonnes.
GOLD PRICE TODAY: EXPERT OPINION
Manoj Kumar Jain, Director Prithvi Finmart, a senior financial market expert, said:
“Disappointing U.S. job data supported gold and silver prices. Precious metals are also holding its support levels amid safe-haven buying due to Middle East conflicts and global uncertainties. We are experiencing very high price volatility in both precious metals but silver prices could hold its support level of $74.00 per troy ounce and gold prices could also hold its support level of $4,940 per troy ounce on a closing basis this week.”
Manoj Kumar Jain View for Today (For Gold and Silver) | 09/03/2026
“We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, the US-Iran war and volatility in the global financial markets. Gold has support at $5115-4964 while resistance is at $5220-5255 per troy ounce, and silver has support at $80.80-76.60, while resistance is at $88.00-91.40 per troy ounce in today’s session.
At MCX, gold is having support at 159900-157700 and resistance at 164000-166600 while silver is having support at 261600-255500 and
resistance at 274000-278000″
Enrich Money View for Today (For COMEX Gold) | 09/03/2026
“COMEX gold futures are trading firmly in the current session, settling around $5,158.70–$5,181.30, compared to the prior close near $5,078–$5,099. The daily chart reflects continued bullish momentum, with prices holding comfortably above key support levels, including the EMA 50 close and prior consolidation zones around $5,000–$5,100. Recent price action has pushed toward the $5,185 resistance region, reinforcing the ongoing uptrend.
The broader bullish structure remains intact, supported by persistent central bank accumulation, strong safe-haven demand amid geopolitical tensions, and expectations of accommodative monetary policy shifts globally. The $5,000– $5,100 zone now acts as strong near-term support, while a decisive breakout above $5,200 could accelerate the next leg higher toward $5,400–$5,600 or beyond into mid-2026.
As long as prices continue to trade within the rising long-term trend channel, the overall outlook remains decisively bullish, with dips likely presenting strong accumulation opportunities within this extended bull cycle.”
Enrich Money View for Today (For MCX Gold) | 09/03/2026
“MCX Gold has extended its bullish momentum, decisively breaking above the previous ₹1,65,000 resistance and advancing toward the previous all-time high resistance band near ₹1,69,000–₹1,70,000. The rally reflects strong safe-haven demand amid persistent global uncertainties. The ₹1,58,000–₹1,63,000 region has now transformed into a solid demand zone following a successful breakout retest.
Momentum indicators continue to reflect a higher-high and higher-low structure on intraday charts, signalling sustained trend strength rather than exhaustion. As long as prices remain above ₹1,65,000, gold may continue its upward trajectory toward ₹1,70,000 and potentially higher levels. However, a break below ₹1,57,000 could trigger increased downside pressure, potentially extending the corrective move toward the ₹1,50,000 zone”
Enrich Money View for Today (For COMEX Silver) | 09/03/2026
“COMEX silver futures have shown explosive upside momentum, currently closing around $84.31, after hitting session highs near $85.34 and lows around $81.79. The daily chart displays strong bullish momentum, breaking out from prior consolidation and pushing above key resistance levels. The rally is being supported by robust industrial demand from sectors such as solar energy and electronics, structural supply deficits, and spill over safe-haven flowsfrom gold’s strength.
Immediate support is placed in the $81–$82 zone, close to the EMA 50 support level, with the broader upward price channel remaining intact. Renewed buying momentum could quickly push prices toward $85–$90, with further extension toward $95 and above possible if industrial and investment demand continues to accelerate. Although volatility remains elevated, the long-term bullish cycle remains strong, with pullbacks likely continuing to offer favourable entry opportunities.”
Enrich Money View for Today (For MCX Silver) | 09/03/2026
“MCX Silver has continued its strong upward momentum, decisively breaking above the ₹2,85,000 level and moving closer toward the ₹2,95,000–₹3,00,000 psychological zone amid rising volatility. The rally aligns with the broader strength across precious metals, with shallow pullbacks indicating persistent accumulation at lower levels. The ₹2,55,000–₹2,65,000 region has now emerged as a key demand zone following the breakout confirmation.
Price action remains constructive with limited corrective moves, suggesting the possibility of continuation above ₹2,95,000 toward the ₹3,00,000–₹3,05,000 range. However, failure to sustain above ₹2,60,000 may lead to short-term consolidation, while a deeper corrective phase could extend toward the ₹2,50,000 level.”
Gold Price Today: FAQs
1. Why did gold and silver prices fall on March 9, 2026?
Gold and silver prices declined mainly due to the strengthening U.S. dollar and rising oil prices, which increased inflation concerns. Higher oil prices and geopolitical tensions in the Middle East also triggered volatility in global financial markets.
2. What are the latest MCX gold and silver prices?
On MCX, gold fell 1.1% to ₹1,59,826 per 10 grams, while silver declined 1.3% to ₹2,64,747 per kilogram on March 9, 2026.
3. What are the latest COMEX gold and silver prices?
In the international market, COMEX spot gold dropped 2.12% to $5,049 per ounce, while spot silver plunged 3.51% to $81.34 per ounce during Asian trading hours.
4. How is the Middle East conflict affecting gold prices?
Escalating tensions between the U.S. and Iran, along with oil prices crossing $100 per barrel, have increased geopolitical uncertainty. Such situations often support safe-haven demand for gold, although short-term volatility remains high.
5. Are central banks still buying gold?
Yes. The People’s Bank of China added 1 tonne of gold in February, extending its buying streak to 16 months, while Uzbekistan added 8 tonnes, pushing its total reserves to 407 tonnes.
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