Precious Metals Tumble: Gold Down, Silver ₹3K+ Lower

Monday brought gloom to India's bullion bazaars, where gold eased and silver plummeted over ₹3,000 amid macroeconomic headwinds. The pullback, totaling around ₹3,500 in value erosion, highlights investor caution pre-US Fed verdict.

MCX's April 2026 gold settled 0.75% or 1,192 points weaker at ₹1,57,274, bookended by highs of ₹1,57,347 and lows of ₹1,56,665.

The May 2026 silver contract tumbled 1.19% (3,435 points) to ₹2,56,340, trading between ₹2,54,367 and ₹2,56,444.

Internationally, gold lost 0.66% to $5,028/oz, silver 0.79% to $80.70/oz. Key driver: the Fed's March 17-18 conclave, where steady rates are anticipated due to elevated oil at $100+/barrel, propping up the dollar against gold.

Support persists from Mideast unrest—no signs of Iran de-escalation after US-Israel weekend strikes on export terminals, met with Tehran's fierce retorts. This dynamic caps downside.

The path forward hinges on Fed rhetoric. Elevated oil and dollar strength may extend pressure, but haven flows could stabilize prices if tensions spike further.