New Delhi, March 19, 2026: A sharp sell-off in precious metals unsettled investors as gold declined by over ₹11,000 and silver fell by ₹34,000, triggering lower circuit limits on Multi Commodity Exchange of India and intensifying pressure across commodity markets.
Sharp Fall Shocks Investors
On the MCX:
Gold (April 2026 contract) dropped around 6.87%
Prices fell to approximately ₹1,42,500 per 10 grams
Intraday range: ₹1,52,449 (high) to ₹1,41,121 (low)
Silver recorded a steeper correction, falling by ₹34,000 per kg, reflecting heightened volatility and forced liquidation.
What Triggered the Crash?
Key Support Breakdown
Market expert Ajay Kedia stated that once gold slipped below the critical ₹1,47,000 support level, it led to:
Aggressive selling
Stop-loss triggers
Rapid unwinding of positions
This accelerated the downward momentum in prices.
Global Macro Pressure
The decline is linked to broader global factors:
Persistently high interest rates
Strengthening US dollar
Capital shifting toward yield-generating assets
As non-yielding assets, gold and silver faced sustained selling pressure.
Profit Booking After Rally
Precious metals had witnessed a strong rally in 2025
Institutional investors engaged in large-scale profit booking
This contributed to the sharp correction.
Margin Calls and Circuit Limits
Traders faced margin pressures
Forced position closures increased selling intensity
Lower circuit limits on MCX amplified market panic
City-Wise Price Snapshot (India)
Gold (24K): ~₹1.43–1.44 lakh per 10 grams
Silver: ~₹2.21 lakh per kg
Major cities including Delhi, Mumbai, Jaipur, Indore, and Lucknow reflected similar pricing trends, indicating a broad-based correction.
