Gold and silver prices witnessed a decline on March 23, 2026, with both precious metals trading lower in domestic markets. Gold slipped marginally while silver also recorded a drop, reflecting subdued demand and global economic pressures.
In India, gold prices fell by ₹10 to ₹1,45,960 per 10 grams, touching a near four-month low. Silver prices also declined by ₹100 to trade at ₹2,44,900 per kilogram, continuing the downward trend seen in recent sessions.
The fall in bullion prices comes despite ongoing geopolitical tensions in the Middle East, which usually support safe-haven assets like gold. However, market dynamics have shifted due to macroeconomic factors, limiting any upward movement in prices.
One of the key reasons behind the decline is the strength of the US dollar. A stronger dollar makes gold more expensive for buyers using other currencies, thereby reducing demand globally. At the same time, rising bond yields have further pressured prices, as investors shift towards interest-bearing assets.
Interest rate expectations have also played a major role. With central banks expected to maintain a tight monetary policy stance to control inflation, gold’s appeal has weakened. Since gold does not provide regular returns like bonds or deposits, higher interest rates tend to reduce its attractiveness.
Silver prices, which are more closely linked to industrial demand, have also come under pressure. Concerns over global economic growth and weaker industrial outlook have weighed on silver, leading to sharper corrections compared to gold.
Additionally, some investors have engaged in profit booking amid market volatility. Selling in bullion markets has also been influenced by losses in equities, prompting investors to rebalance their portfolios.