Gold, silver crash over 7% amid West Asia tensions
The Hindu
Gold and silver prices plummet over 7% due to West Asia tensions, inflation fears, and a stronger dollar.
Gold and silver prices in the domestic market witnessed a sharp decline of more than 7% on Monday (March 23, 2026) amid ongoing tensions in West Asia, global economic concerns and a strengthening U.S. dollar, which has shifted investor interest away from precious metals.
Also read: West Asia war updates on March 23, 2026
Gold prices fell sharply during the session, dropping from ₹1,40,158 in the opening trade to ₹1,29,595, and currently trading at ₹134 marking a steep fall of over 7%.
Silver prices also saw a similar trend, declining by more than 7% and trading at ₹2,09,797 per kg after hitting a low of ₹1,99,643 during the day, indicating high volatility in the market.
Market experts attributed the decline to a combination of rising inflation concerns, higher interest rate expectations and a stronger dollar.
Colin Shah, MD, Kama Jewellery, said the sharp dip in gold prices is a ripple effect of the ongoing tensions in West Asia.
L&T confirms 95% of its West Asia project sites are safe, while addressing logistics challenges amid ongoing regional conflicts.
Mines Ministry to auction 19 critical mineral blocks on March 23, expanding strategic resources for clean energy and technology sectors.
Mines Ministry to auction 19 critical mineral blocks on March 23, expanding strategic resources for clean energy and technology sectors.
Five top firms lose ₹1 lakh crore in market value, with HDFC Bank experiencing the largest decline of ₹56,124.48 crore.
HDFC Bank terminates three senior officials over client onboarding issues at its DIFC branch amid ethical concerns following chairman's resignation.
Air India CEO warns of potential flight cuts and reduced travel demand due to rising fuel costs amid ongoing Gulf conflict.
Options are widely used by retail traders to speculate on the value of the stock for immediate gains and such behaviour in large scale can distort the market
India achieves 1 billion tonne coal production for the second consecutive year, ensuring stable energy supply and economic growth.
Generic drugmakers in India launch affordable Semaglutide versions, targeting a $1 billion diabetes and weight loss market.
Indian and Asian refiners eye Iranian oil purchases as U.S. waives sanctions amid energy crisis linked to the Iran-Israel war.
Iran war impacts pesticide prices, warning of a 20-25% rise and increased risk of counterfeit products during the kharif season.
India's forex reserves fell by $7 billion to $709.76 billion, according to RBI data for the week ending March 13.
Natco Pharma will launch its Semaglutide injection (multi dose vials) in the domestic market on Saturday.