Gold Price Today: As the Multi Commodity Exchange (MCX) opened on 20 March, 2026, both gold and silver contracts expirenced a surge. The MCX silver surged 3.7%, or over ₹8,500, to reach ₹2,40,000 per kg. At the same time, MCX gold gained 2.3%, or nearly ₹2,350, climbing to ₹1,48,302 per 10 grams.
Silver prices bounced back from earlier losses, though the metal remained on track for a weekly decline amid the US Federal Reserve’s hawkish stance.
GOLD PRICE TODAY: KEY EVENTS OF THE DAY, AND DAILY NEWS
Key Events of the Day
Friday, March 20, 2026
06:45 AM – China – Loan Prime Rate (1-Year & 5-Year)
Switzerland’s Gold Export Decline
Switzerland’s gold exports fell 18% in February compared to the previous month, hitting their lowest level since the tariff-led downturn seen in August last year, as shipments to the UK and India weakened, according to Swiss customs data published on Thursday. Exports to the UK, the world’s biggest over-the-counter gold trading centre, declined to 20 tonnes from 43 tonnes in January. Switzerland, which serves as the global hub for bullion refining and transit, usually channels large volumes of gold through London. At the same time, exports to India, the world’s second-largest gold consumer after China, slipped to 13 tonnes in February from 23 tonnes a month earlier, as domestic gold prices remained at a discount due to subdued consumer demand.
GOLD PRICE TODAY: SAXO BANK’s OUTLOOK ON GOLD & SILVER
Gold
Gold is currently in a difficult phase, fighting to maintain its previous gains. After falling below its 50-day Moving Average (approx. USD 4,978), the technical risk of a significant “correction” or price drop has increased. While geopolitical tensions in the Middle East typically support gold prices, other powerful economic forces are currently dragging the market down.
Primary Headwinds for Gold
Energy Prices & Interest Rates: War-related spikes in oil and diesel prices have fueled inflation expectations. This makes it difficult for central banks to cut interest rates. The market is now bracing for a “Higher-for-longer” rate environment, which has boosted Real Yields. High yields are a major obstacle for non-yielding assets like gold.
The Strong US Dollar: In the current climate, investors are choosing the US Dollar over gold as their preferred “safe haven.” The rising dollar diminishes gold’s traditional appeal.
Profit Booking & Technical Positioning: Because gold has been one of the most profitable trades over the last two years, many investors are now selling to secure liquidity. Breaking through key technical support levels has triggered widespread profit-taking.
Supply-Side Shocks: Current inflation is being driven by supply shortages (like oil) rather than high demand. Central banks have limited tools to fight this type of inflation, creating deep market uncertainty.
Silver
Silver has experienced a much more aggressive pullback compared to gold. This is due to a combination of its unique industrial role and technical breakdowns.
Why Silver is Underperforming
Technical Breakdown: Silver prices have fallen below the critical level of USD 78. Experts suggest this breach indicates a “Deeper Retracement,” signaling that prices could head significantly lower.
Industrial Sensitivity: Unlike gold, silver is heavily used in industries such as electronics and solar panels. Consequently, its price is highly sensitive to expectations of Global Economic Growth. With copper also trading lower, there is a clear sign that global industrial demand is weakening.
Energy Cost Pressures: High energy prices are slowing down global economic activity. When the economy cools, industrial metals like silver face immediate downward pressure.
Volatility & Speculation: Silver is naturally more volatile than gold. In “Risk-off” environments, speculators tend to exit their positions rapidly, which accelerates the speed of the price decline.
GOLD PRICE TODAY: EXPERT OPINION OF THE DAY
Manoj Kumar Jain, Director Prithvi Finmart, a senior financial market expert, said:
“Gold April futures contract were settled at $4,605.70 per troy ounce down by 5.93% and silver May futures contract were settled at $71.215 per troy ounce, down by 8.22%. Domestic markets were also settled on weaker note. Gold April futures contract settled at Rs1,44,954 per 10 grams with a loss of 5.27% and silver May futures contract settled at Rs2,31,460 per kilogram with a loss of 6.74%.
Gold and silver prices crashed vertically on Thursday after the U.S. Fed maintained status-quo on interest rates and Fed Chairman’s hawkish remarks on interest rate cuts this year. Gold and silver markets also see heavy sell-off due to all round selling in the global financial markets amid inflation fears due to on going war in the west Asia. Higher crude
oil prices prompting global central banks to hold interest rates steady and even could raise interest rates to counter higher inflation and pushing precious metals prices down.
Gold and silver breached major support levels in the international markets, could show some dead cat bounce from lower levels but short term trend turned bearish.”
Manoj Kumar Jain View for Today (For Gold and Silver) | 20/03/2026
“We are experiencing very high price volatility in both precious metals and silver prices could retest its resistance level of $76.00 per troy ounce and gold prices could also
retest its resistance level of $4,740 per troy ounce in the short-term. 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 $4540-4470 while resistance at $4664-4740 per troy ounce and silver has support at $68.00-64.00, while resistance is at $76.00-78.40 per troy ounce in today’s session.
At mcx, gold is having support at 141400-139500 and resistance at 147200- 149100 while silver is having support at 224400-217000 and resistance at 238000-244000.
We suggest traders could use dead cat bounce to exit their long-positions as market trend change to bearish for the short term and wait for some stability in the markets for fresh long positions, investors are suggested to continue their SIP for a longer term perspective.“
Kedia Commodity View for Today (For MCX Gold) | 20/03/2026:
“From a technical perspective, the market is witnessing long liquidation, with a notable drop in open interest alongside falling prices. Immediate support is seen at 1,39,900, with a break below potentially dragging prices toward 1,34,845. On the upside, resistance is placed at 1,51,230, and a sustained move above this level could push prices toward 1,57,505.”
Kedia Commodity View for Today (For MCX Silver) | 20/03/2026:
“From a technical stand point, the market is clearly under fresh selling pressure, with open interest rising alongside falling prices, indicating the build-up of bearish positions. Immediate support is seen at 2,15,225, and a break below this level could trigger further downside toward 1,98,985. On the upside, resistance is placed at 2,46,690, with a move above this level potentially leading to a recovery toward 2,61,915.”
Nirmal Bang View for Today (For MCX Gold & Silver) | 20/03/2026:
FAQs
1. Why did silver prices rise on March 20, 2026?
Silver prices rebounded more than 3% on MCX after suffering heavy losses in the previous session. The recovery appears to be a technical bounce, although the broader weekly trend remains weak due to the US Federal Reserve’s hawkish stance.
2. What was the MCX gold price on March 20, 2026?
MCX gold rose 2.3%, or around ₹2,350, to ₹1,48,302 per 10 grams during the opening trade on March 20, 2026.
3. Why are gold and silver still under pressure despite the rebound?
Both metals remain under pressure because of higher-for-longer interest rate expectations, rising real yields, elevated crude oil prices, inflation concerns, and a stronger US dollar, all of which have reduced the appeal of precious metals.
4. What are the key support and resistance levels for MCX gold and silver?
According to Manoj Kumar Jain, MCX gold has support at ₹1,41,400–₹1,39,500 and resistance at ₹1,47,200–₹1,49,100. MCX silver has support at ₹2,24,400–₹2,17,000 and resistance at ₹2,38,000–₹2,44,000.
5. What is Switzerland’s gold export data indicating for the market?
Swiss gold exports dropped 18% in February, with shipments to the UK falling to 20 tonnes from 43 tonnes and exports to India slipping to 13 tonnes from 23 tonnes. This points to softer physical demand and weakening bullion flows in key global markets.
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