Gold and Silver Prices Plunge: Rs 2,950 for Gold, Rs 9,000 for Silver Amid Global Weakness
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Gold, Silver Plunge: Prices Tumble Amid Weak Global Cues, Strong Dollar
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News18•16-03-2026, 18:45
Gold, Silver Plunge: Prices Tumble Amid Weak Global Cues, Strong Dollar
•Silver prices plummeted by Rs 9,000 to Rs 2.56 lakh per kg, while gold dropped Rs 2,950 to Rs 1.60 lakh per 10 grams in New Delhi.
•The significant decline is attributed to weak global trends, a stronger US dollar, and profit-booking by investors.
•Safe-haven demand shifted from precious metals to the US dollar and bonds amidst surging crude oil prices and West Asia geopolitical tensions.
•International markets also saw a downturn, with spot gold falling below USD 5,000 and silver below USD 80 per ounce.
•Experts cite unwinding of positions, central banks pausing rate adjustments due to US-Iran conflict, and faded Fed rate cut expectations as key factors.
