The decline in gold and silver prices is primarily caused by a hawkish stance from the US Federal Reserve combined with a strong US dollar, which has dampened global investor demand and pressured prices downward.

CURRENT STATE

As of March 20, 2026, gold prices in India and globally have shown a mild to moderate decline, with 24K gold trading near ₹1.50 lakh per 10 grams after a ₹7,140 drop, while silver prices have fallen more sharply to about ₹2.59 lakh per kilogram. Despite some intraday recoveries in futures, the overall trend reflects weakening investor sentiment due to global monetary policy and currency strength.

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