Mumbai, March 21: This week has seen a significant decline in gold prices, with a drop of ₹12,766 per 10 grams. This marks the largest weekly decrease since January. So far in March, gold prices have fallen by ₹15,330.
The recent decline in gold and silver prices is unprecedented in recent months. Factors such as rising crude oil prices, a strengthening dollar, and escalating tensions in the Middle East have adversely affected the gold and silver markets. The U.S. Federal Reserve has advised caution due to the Middle East tensions, leading to a shock for investors who were hoping for interest rate cuts. On Friday, gold prices plummeted to ₹145,570.
Biggest Weekly Decline Since January 2026
This week alone, gold prices have recorded a drop of ₹12,766 per 10 grams, the largest weekly decline since January. If this trend continues throughout March, it will be the first month in 15 months where only selling has occurred in gold.
Silver is also under pressure, with prices on Friday reaching ₹228,871 per kilogram. This week, silver prices fell by ₹29,645, following a significant drop of ₹69,047 in the last week of January.
Are Gold and Silver Still Safe Investments?
Commodity expert Manav Modi from Motilal Oswal Services attributes the decline in gold and silver prices to the rise in the U.S. dollar and treasury yields.
This week, crude oil prices reached a four-year high. Supply chain disruptions are expected to increase inflation, prompting central banks worldwide to raise interest rates. The Reserve Bank of Australia has already increased rates, while the European Central Bank, Swiss National Bank, and Bank of Japan have indicated a decreasing likelihood of rate cuts.
(Note: This is not investment advice. The fluctuations in gold and silver prices are influenced by various factors. The opinions presented by experts are personal. Live Hindustan does not recommend buying or selling gold and silver based on this information.)
My name is Ganpat Singh Choughan. I am an experienced content writer with 7 years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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