Gold Price Today: On Monday, 23 March 2026, precious metals opened sharply lower on the Multi-Commodity Exchange (MCX). At the market open, MCX gold for April futures slipped 3% to ₹1,40,158 per 10 grams, compared with its previous close of ₹1,44,492, and later touched an intraday low of ₹1,36,403, down ₹8,089 or 5.59%.
MCX silver for May futures also opened weak, falling 4% to ₹2,17,702 per kg against its previous close of ₹2,26,772. The decline deepened further as silver hit the lower circuit at ₹2,13,166, marking a steep fall of ₹13,606 or 6%.
On the COMEX front, bullion prices also remained under pressure as market opened on Monday. At the market open, COMEX gold dropped 3% to $4,462 per ounce, extending losses after suffering nearly 11% last week, its sharpest weekly decline since 1983. COMEX silver too witnessed a sharp slide, falling 3% to $67.5 per ounce, signaling continued weakness in global precious metal markets.
GOLD PRICE TODAY: KEY EVENTS OF THE DAY, AND DAILY NEWS
Key Events of the Day
Monday, March 23, 2026
07:30 PM (US) – Construction Spending (MoM, January)
America and Iran War Continues
Treasury Secretary Scott Bessent said that the U.S.-Israeli strikes on Iran are aimed at dismantling its defensive positions along the Strait of Hormuz. He further stated that President Donald Trump is ready to take all necessary steps to achieve U.S. objectives, including neutralizing Iran’s air force and navy and stopping it from obtaining nuclear weapons. Bessent also admitted that prices could rise in the short term, but said the cost would be worth it, arguing that they would eventually stabilize in return for decades without the threat of a nuclear-armed Iran.
Iran has warned that it would retaliate by targeting energy and water infrastructure across the Gulf if U.S. President Donald Trump follows through on his threat to strike its electricity grid, heightening fears of major disruption in a region that depends heavily on desalination for drinking water.
GOLD PRICE TODAY: EXPERT OPINION OF THE DAY
Manoj Kumar Jain, Director Prithvi Finmart, a senior financial market expert, said:
“Gold and silver prices crashed vertically last week after the U.S. Fed maintained status-quo on interest rates and also show uncertainty on the future rate cuts amid ongoing war in the West Asia. Higher crude oil prices increased global inflation worries and it could last for longer and change stance of global central banks to hawkish in the upcoming months.
The dollar index surged and global bond yields also rises due to safe-haven buying and crash in the global equity markets. Gold prices see biggest weekly fall in 43 years and fall more than 10% last week. Gold prices closed below $4,500 in the spot markets on Friday. We are experiencing very high price volatility in both precious metals and silver prices could face steep resistance around $80.00 per troy ounce and gold prices could also face resistance around $4,840 per troy ounce in the short-term.”
Manoj Kumar Jain View for Today (For Gold and Silver) | 23/03/2026
“We expect gold and silver prices to remain volatile in today’s session amid volatility in the dollar index and crude oil prices and US-Iran war. Gold has support at $4505-4440 while resistance at $4600-4664 per troy ounce and silver has support at $64.00-60.00, while resistance is at $72.40-76.00 per troy ounce in today’s session.
At MCX, gold is having support at 142200-139100 and resistance at 146000-147700 while silver is having support at 218000-210000 and resistance at 232000-237700.
We suggest traders must wait for some stability in the precious metals markets for initiating fresh positions while small investors continue their accumulation in SIP mode in the present market breakdown”
SMC Global View for Today (For Gold and Silver) | 23/03/2026:
“Markets have now pushed expectations for Fed rate cuts further out to 2027, while also pricing in potential rate hikes from the ECB and BOE this year.
From a technical perspective, COMEX gold is expected to find support near $4,280 and resistance around $4,780, with a bearish bias in the near term. Silver is likely to trade within a range of 62–78.
In the domestic market, gold may trade between ₹131,000–₹150,000, while silver could range between ₹208,000–₹247,000. Overall, selling pressure is expected to persist in both metals”
FAQs
1. Why did gold and silver prices fall sharply on 23 March 2026?
Gold and silver prices declined due to a mix of strong dollar index movement, rising global bond yields, inflation concerns linked to higher crude oil prices, and uncertainty over future interest rate cuts after the U.S. Fed kept rates unchanged.
2. How much did MCX gold and silver fall today?
MCX gold for April futures opened 3% lower at ₹1,40,158 per 10 grams and later touched ₹1,36,403, down ₹8,089 or 5.59%. MCX silver for May futures opened 4% lower at ₹2,17,702 per kg and hit the lower circuit at ₹2,13,166, down ₹13,606 or 6%.
3. What happened to gold and silver prices on COMEX?
COMEX gold fell 3% to $4,462 per ounce, extending losses after an almost 11% fall last week, its biggest weekly drop since 1983. COMEX silver also dropped 3% to $67.5 per ounce.
4. What are experts saying about gold and silver prices now?
Experts believe both metals may remain highly volatile due to fluctuations in the dollar index, crude oil prices, and geopolitical tensions. Selling pressure is expected to continue, though small investors may keep accumulating gradually through SIP mode.
5. What are the key support and resistance levels for gold and silver today?
According to Manoj Kumar Jain, gold has support at $4505–4440 and resistance at $4600–4664, while silver has support at $64–60 and resistance at $72.40–76 on COMEX. On MCX, gold support is seen at ₹1,42,200–₹1,39,100 and resistance at ₹1,46,000–₹1,47,700, while silver support is at ₹2,18,000–₹2,10,000 and resistance at ₹2,32,000–₹2,37,700.
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