Gold, Silver Prices Today on March 23: Gold Hits 4-Month Low, Silver Drops 3%

Gold and silver started the week on a softer note, with prices edging lower in early trade. The dip comes amid global uncertainty around inflation, interest rates, and geopolitical tensions, all of which are influencing investor sentiment.

In the international market, gold has been under steady pressure. Prices have fallen for several sessions in a row, touching a near four-month low. Silver has followed a similar path, reflecting the broader weakness in precious metals.

How prices are moving in India

On the Multi Commodity Exchange of India, both metals opened with noticeable cuts. Gold saw a drop of around 5 percent, while silver declined by about 6 percent.

As per the latest rates:

24-carat gold is priced at Rs 1,45,960 per 10 grams
22-carat gold stands at Rs 1,33,790 per 10 grams
Silver is trading at Rs 2,44,900 per kg

Silver prices remain largely similar across major cities like Delhi, Mumbai, and Kolkata, while Chennai continues to report slightly higher rates.

Silver Prices in Major Cities

City-wise gold prices snapshot

Mumbai, Kolkata, Bengaluru, Hyderabad
24K gold: Rs 1,45,960
22K gold: Rs 1,33,790

Delhi
24K gold: Rs 1,46,110
22K gold: Rs 1,33,940

Chennai
24K gold: Rs 1,48,570
22K gold: Rs 1,36,190

Gold Prices in Major Cities

What is driving the decline

The fall in gold and silver prices is closely tied to global factors. One of the key reasons is rising crude oil prices, which are adding to inflation concerns worldwide.

At the same time, expectations of higher interest rates are making a big difference. Gold and silver do not offer interest or regular returns, so when rates go up, investors often shift toward assets that provide better yields.

A stronger US dollar is another factor putting pressure on prices. When the dollar gains strength, precious metals become more expensive for international buyers, reducing demand.

Geopolitical tensions, especially in the Middle East, are also creating uncertainty in global markets. Concerns around key trade routes and energy supply are adding to volatility, which is indirectly affecting bullion prices.

What investors should keep an eye on

The direction of gold and silver in the coming weeks will depend on several moving parts. Trends in crude oil prices will continue to influence inflation expectations. Signals from the Federal Reserve regarding interest rates will also play a crucial role.

Investors will also be watching the strength of the US dollar and bond yields, along with any major geopolitical developments.

A cautious phase for bullion

Right now, the market environment is not particularly supportive for gold and silver. When interest rates remain high and the dollar stays strong, demand for non-yielding assets tends to weaken.

However, precious metals often move in cycles. For investors, this phase is less about quick gains and more about watching the bigger picture and timing their decisions carefully.


Disclaimer: This article is for informational purposes only and should not be considered financial or investment advice. Market prices are subject to change, and readers are advised to consult a qualified financial advisor before making any investment decisions.