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Gold, Silver Rate Today Highlights: Gold prices up, but as crude oil prices weigh on Fed rate cut hopes

Gold, Silver Rate Today Highlights: Amidst the ongoing geopolitical tensions, the Middle East conflict and the US-Iran war, gold a...

The Times of India | Mar 17, 2026, 16:09:21 IST

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16:09 (IST), Mar, 17

Gold, Silver Rate Today: Focus on oil and FOMC

Spot gold is currently trading with a gain of 0.25% at $5022. Yesterday, the metal fell by 0.10% to $5009 as the US industrial production data (February) at 0.20% growth beat the estimate of 0.10% growth. NAHB housing index at 38 in March beat the forecast of 37.

Crude oil was lower as the US treasury secretary Bessent said some ships passed through the Strait of Hormuz, however oil is up again today as the regional war rages on. Growing risk to transit through Bab El-Mandeb Strait will further increase geopolitical risk premium embedded in oil.

Elevated oil prices and firm Dollar may keep upside in gold prices contained, though FOMC monetary policy decision due tomorrow may ease downside pressure to some extent briefly.

Support is at $4965/$4900. Resistance is at $5050/$5125, says Praveen Singh, Head of Commodities, Mirae Asset ShareKhan.

16:08 (IST), Mar, 17

Gold, Silver Rate Today: Higher energy prices may delay rate cuts

“Gold traded near $5000, marginally higher, but continues to witness range-bound volatility as markets remain cautious ahead of the US Fed policy decision due tomorrow late evening. Expectations from the Fed remain subdued, with little scope for dovish commentary, especially as elevated crude oil prices keep inflationary pressures intact.

Higher energy prices may delay rate cuts, which is limiting upside in gold and keeping the broader trend weak on charts. On MCX, gold is expected to trade within a range of ₹154000–₹158000, with a slight negative bias unless a supportive trigger emerges from the Fed outcome,” says Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

13:08 (IST), Mar, 17

Gold, Silver Price Today: Investors turn to safe haven assets

Gold and silver prices surged at the opening of trading on the Multi Commodity Exchange (MCX) on Tuesday as investors turned to safe-haven assets amid rising tensions in the Middle East involving the United States, Israel and Iran. The geopolitical uncertainty has kept crude oil prices elevated, with Brent remaining above $100 per barrel.

MCX silver futures for May 2026 delivery climbed by Rs 4,932, or 1.7%, to Rs 2,61,457 per kg. Gold futures for April 2026 delivery also moved higher, advancing by Rs 1,260, or 1%, to Rs 1,56,996 per 10 grams.

The rise in bullion prices came even as the US dollar strengthened slightly, which typically makes dollar-priced metals more expensive for buyers using other currencies. Crude oil prices also stayed firm above the $100 per barrel mark, as the ongoing US-Israel conflict with Iran has largely restricted movement through the Strait of Hormuz, causing a significant disruption to global energy supplies.

In international markets, gold prices remained relatively stable. During early trading hours, spot gold inched up 0.1% to $5,007.61 per ounce as of 0110 GMT, while US gold futures for April delivery gained 0.2% to $5,011.70. Spot silver, however, edged down 0.2% to $80.58 per ounce.

11:15 (IST), Mar, 17

Gold, Silver Price Today: MCX Silver futures rise

MCX silver futures for May 2026 delivery rose by Rs 4,932, or 1.7%, to reach Rs 2,61,457 per kg. Gold futures for April 2026 delivery also moved higher, increasing by Rs 1,260, or 1%, to Rs 1,56,996 per 10 grams.

These gains came even as the US dollar edged higher, which typically makes dollar-priced bullion costlier for investors using other currencies. Oil prices also stayed elevated, remaining above $100 per barrel as the ongoing U.S.-Israeli conflict with Iran has largely kept the Strait of Hormuz restricted, resulting in the largest disruption to global oil supplies on record.

11:15 (IST), Mar, 17

Gold, Silver Price Today: Gold outlook

Rishi Raj Deva, Associate at Kredere Wealth, told ET that gold has retreated to the key support level of $5,000 after reaching a peak of around $5,595 in January. With the US Federal Reserve’s policy meeting currently in progress and interest rates widely expected to remain unchanged in the 3.5–3.75% range, he said the upcoming dot plot will play a crucial role in indicating whether inflation driven by the ongoing conflict could lead policymakers to delay interest rate cuts further.

He added that if the median projection shifts from one expected rate cut to none in 2026, both gold and silver could come under fresh pressure. Deva also noted that silver’s decline over four consecutive sessions to around $80 reflects concerns about industrial demand in addition to the uncertainty created by geopolitical tensions.

11:13 (IST), Mar, 17

Gold, Silver Rate Today: Gold, silver ETFs jump

Gold and silver exchange-traded funds (ETFs) jumped by nearly 6% on Tuesday after bullion prices opened significantly higher on the MCX. Demand for safe-haven assets strengthened as tensions in the Middle East intensified, involving the United States, Israel and Iran. Crude oil prices remaining above $100 per barrel added to the uncertainty in global markets.

Among the 18 silver ETFs, Axis Silver ETF recorded the strongest gain, touching an intraday high of Rs 257.4, marking a rise of about 6% from its previous close of Rs 242.39. Angel One Silver ETF advanced 5%, while the remaining 16 silver ETFs posted gains ranging between 3% and 4% during the session.

Meanwhile, all 25 gold-based exchange-traded funds registered gains, rising between 1% and 3% on Tuesday.

09:10 (IST), Mar, 17

Gold, Silver Rate Today: US Fed meet weighs on gold prices

US President Donald Trump once again urged other countries to help reopen the Strait of Hormuz, expressing frustration that none had stepped forward to provide support.

Rising crude oil prices tend to push inflation higher by increasing transportation and manufacturing expenses. Although gold is often viewed as a hedge against inflation, higher interest rates generally make yield-bearing assets more attractive, which can weaken demand for the precious metal.

The US Federal Reserve is broadly expected to keep interest rates unchanged for the second consecutive meeting when it releases its policy decision on Wednesday.

09:08 (IST), Mar, 17

Gold, Silver Rate Today: Gold had retreated earlier

Gold prices retreated during the first 24 hours of trading this week, reflecting the market’s positive reaction to remarks made by Iran’s foreign minister, according to Ilya Spivak, head of global macro at Tastylive.

"Gold prices pulled back in the first 24 hours of ⁠trade this week. That seems to echo the markets' positive response to Iran's foreign minister's comments... In response, crude oil pulled back, yields ticked lower, and the US dollar gave back some recent gains as stocks rose," Spivak said.

Iran’s Abbas Araghchi said on Monday that the Strait of Hormuz has not been completely closed to all vessels, with some ships continuing to pass through the strategic waterway.

Despite this, oil prices remained above $100 per barrel as the ongoing US-Israeli conflict with Iran has largely kept the strait restricted, leaving tankers stranded for weeks and creating what is considered the largest disruption to global oil supplies on record.

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09:07 (IST), Mar, 17

Gold, Silver Rate Today: Gold prices move up

Gold prices moved slightly higher on Tuesday, supported by easing concerns about extended disruptions to oil shipments, while investors evaluated the broader economic implications of the Middle East conflict ahead of several central bank policy announcements expected this week.

Spot gold rose 0.4% to $5,023.19 per ounce as of 0251 GMT. Meanwhile, US gold futures for April delivery increased 0.5% to $5,027.20.

14:53 (IST), Mar, 16

Gold, Silver Price Today: Gold down as higher oil prices weigh on the metal

Spot gold fell 1.2% to close at $5019 on Friday as the US Dollar strengthened. The yellow metal was down by around 3% for the week ending March 13.

US data released on Friday were mixed: annualized Q4 GDP came in at 0.7% (forecast 1.4%) whileGDP Price Index at 3.8% was hotter-than-expected (forecast 3.6%). Core PCE price index was up 0.4% m-o-m in January (forecast 0.4%), while the Index rose 3.1% y-o-y (forecast 3.1%). Real personal spending was up by 0.1% in January (forecast 0% as January durable goods orders trailed the estimate. University of Michigan consumer sentiment fell from 56.6 to 55.5 in the prel. March reading, though the data beat the estimate of 54.80. Both short-term and long-term inflation expectations eased. JOLTs job openings rose form 6550K in December to 6946K in January Vs the estimate of 6750K jobs.

Gold is currently trading with a loss of around 0.50% at $4992 as high oil prices reduce rate cut odds.

Today's US data include industrial production.

Firm oil and strong Dollar will keep the metal under pressure in short term. Support is at $4840. Resistance is at $5050/$5125, says Praveen Singh, Research Analyst,Mirae Asset ShareKhan.

13:55 (IST), Mar, 16

Gold, Silver Price Today: Gold prices could remain volatile

Christopher Wong, a strategist at OCBC, said gold prices could remain volatile in the short term as markets reassess the likely course of U.S. Federal Reserve policy and the outlook for real yields.

"In the near term, (gold's) price action may remain choppy as markets reassess the Fed policy path and the trajectory of real yields," Wong said.
The US Federal Reserve is broadly expected to keep interest rates unchanged for the second consecutive meeting when it announces its decision on Wednesday.

Meanwhile, US President Donald Trump said on Sunday that his administration is in discussions with seven countries about providing support to safeguard the Strait of Hormuz.

Trump also warned that additional strikes could be carried out on Iran’s key oil export hub, Kharg Island, and indicated that he was not yet prepared to reach an agreement to end the conflict.

He further said that countries heavily dependent on Gulf oil should take responsibility for ensuring the security of the strait.
In other precious metals, spot silver edged up 0.1% to $80.62 per ounce. Spot platinum climbed 1.8% to $2,060.32, while palladium advanced 1.6% to $1,576.41.

12:53 (IST), Mar, 16

Gold, Silver Price Today: Gold prices have started taking some breather

Gold prices declined to $5000 as rising energy prices strengthened the US dollar and heightened concerns that Fed may delay interest rate cuts. Market expectations for a rate reduction at the March meeting have now largely faded, while the probability of rate cuts later this year has dropped to ~ 80%. Market participants positioning also reflected increasing caution, with gold-backed ETF holdings declining by nearly 31 tonnes so far this month as participants trimmed exposure amid rising uncertainty. Silver prices followed a similar trajectory, slipping to around $80 alongside broader weakness in precious metals. Pressure in bullion is majorly because markets remained focused on the inflationary risks stemming from the ongoing U.S.-Israel conflict with Iran.

The conflict showed few signs of easing after the US and Israel reportedly struck a key Iranian export terminal over the weekend, prompting strong retaliation threats from Tehran. Meanwhile, crude oil prices remained elevated above $100, although they pared some gains after U.S. President Trump stated that talks were underway to form a coalition aimed at reopening a critical shipping route blocked by Iran. Despite President Trump suggesting that the war could end soon, Tehran has repeatedly rejected such claims.

Overall, gold prices have started taking some breather since the conflict began as concerns about prolonged inflation and higher-for-longer interest rates overshadowed safe-haven demand, with market attention this week turning to key central bank decisions including the Fed, BOJ, ECB, BOE, and China’s LPR announcements, says Manav Modi Commodities Analyst Motilal Oswal Financial services Ltd.

11:57 (IST), Mar, 16

Gold, Silver Rate Today: Headwinds for gold

"If higher energy prices push inflation higher and the Fed stays cautious about cutting rates, that could keep real yields elevated, which tends to be a headwind for gold," Christopher Wong, a strategist at OCBC told Reuters.

09:51 (IST), Mar, 16

Gold, Silver Rate Today: Gold, silver prices drop

Gold and silver prices began Monday with sharp losses on the Multi Commodity Exchange of India as surging energy costs weakened expectations of near term interest rate cuts in the United States due to rising inflation concerns. Worries that the Federal Reserve may find it difficult to reduce rates if oil prices remain high have partly reduced gold’s appeal as a safe haven.

Crude oil prices stayed above $100 per barrel as the US-Israeli conflict with Iran moved into its third week, keeping energy markets under strain.

On the MCX, silver futures for May 2026 delivery dropped Rs 4,335, or 1.7%, to Rs 2,55,101 per kg. Gold futures for April 2026 delivery also declined, falling Rs 1,811, or 1.1%, to Rs 1,56,655 per 10 grams.

09:15 (IST), Mar, 16

Gold, Silver Rate Today: Gold, silver for portfolio diversification

Vijay Kuppa, CEO of InCred Money, said gold and silver continue to play an important role in portfolio diversification even though prices may fluctuate in the short term.

"Gold and silver earn their place not because of what they return in isolation, but because of how they behave relative to everything else," he said, noting that these metals typically have a low correlation with equities and can serve as a safeguard against currency depreciation.

He also said that the broader commodities market has been affected by supply chain disruptions and changes in trade routes linked to the ongoing conflict. However, he advised investors not to try to time movements in the bullion market and instead maintain a long-term allocation to these assets.

09:14 (IST), Mar, 16

Gold, Silver Rate Today: Why gold prices dropped last week

Bullion prices in domestic markets remained under strain last week. On the Multi Commodity Exchange, silver tumbled by Rs 8,850, marking a decline of 3.3 per cent, while gold fell by Rs 3,168, a drop of about 2 per cent.

According to Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, gold slipped below its recent consolidation band on Friday and closed the week with a decline of nearly 2 per cent. The weakness was largely driven by the strengthening U.S. dollar and increasing expectations that global central banks could postpone interest rate cuts amid rising crude oil prices.

He further said that prices of the yellow metal declined even as riskier assets such as equities experienced a broad sell-off. This was because traders and investors may have chosen to lock in profits at higher levels or may have been compelled to sell due to specific requirements such as margin calls.

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09:12 (IST), Mar, 16

In the week ahead, focus will remain in the Middle East region as any signs of further escalation or de-escalation may led to increased volatility in the financial markets

 

- Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd

09:11 (IST), Mar, 16

Gold, Silver Rate Today: Oil prices stay above $100

The US dollar inched lower, which made commodities priced in the currency, including bullion, more affordable for investors using other currencies. Yields on the benchmark 10-year US Treasury also declined, improving the attractiveness of gold, which does not offer interest returns.

Meanwhile, oil prices stayed above $100 per barrel as the US-Israeli conflict with Iran moved into its third week. The fighting has put critical oil infrastructure at risk and kept the Strait of Hormuz closed, marking the largest disruption to global energy supplies on record.

09:10 (IST), Mar, 16

Gold, Silver Rate Today: Gold prices slip in international markets

Gold prices slipped slightly on Monday as expectations for near term interest rate cuts in the United States weakened amid elevated energy costs, although losses were capped by a softer US dollar.

Spot gold declined by 0.2% to $5,007.58 per ounce as of 0240 GMT. Meanwhile, U.S. gold futures for April delivery dropped 1% to $5,011.10.

Gold, Silver Rate Today Highlights: Market participants are expected to remain attentive to the evolving conflict in West Asia, as any indication of escalation or easing in tensions could lead to sharp fluctuations across financial markets, experts have said. Investors will also track several important central bank policy meetings scheduled during the week. The US Federal Reserve is set to announce its policy decision on Wednesday. This will be followed by announcements from the European Central Bank and the Bank of England on Thursday, and the People's Bank of China set to take a decision on Friday. All these will have an impact on gold and silver prices.

(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
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