Gold, Silver Rate Today Live Updates: Gold and silver prices have been fluctuating in India since the start of the US-Israel-Iran war. On Monday, March 23, gold prices fell by over Rs 12,200 to reach Rs 1,35,141 per 10 grams, down sharply from the previous close of Rs 1,47,340, according to the Indian Bullion and Jewellers Association (IBJA). On the Multi Commodity Exchange (MCX), gold futures dropped by Rs 5,521, or 3.82 per cent, to Rs 1,38,971 per 10 grams, compared to the previous close of Rs 1,44,492 per 10 grams.
Meanwhile, gold touched an all-time high of Rs 1,80,779 per 10 grams recorded on January 29 this year.
Meanwhile, data from GoodReturns showed 24-carat gold trading at Rs 1,40,020 per 10 grams.
“Gold and silver have not lost their safe-haven character. However, their recent behaviour is being driven more by global liquidity conditions than by traditional risk aversion. The market is currently experiencing a dollar liquidity squeeze, triggered by elevated energy prices and rising US bond yields. This has increased the global demand for dollars, tightening financial conditions. In such an environment, investors are often forced to raise cash and reduce leverage, leading to the selling of even traditional safe-haven assets like gold. This should not be interpreted as a failure of gold as a hedge, but rather as a phase where liquidity stress temporarily overrides its defensive appeal,” said Anindya Banerjee, Head of Commodity and Currency Research, Kotak Securities.
Gold, Silver Rate Today Live Updates: MCX Gold Crashes Over Rs 40,000 From Peak, Silver At 2.25 Lakhs Amid Iran War; Should You Buy?
