Silver plunges nearly Rs 19,000/kg, gold at Rs 1.46 lakh/10g after US Fed’s hawkish tone. What should your strategy be?

Gold and silver prices nosedived on the Multi-Commodity Exchange of India on Thursday after the US Federal Reserve on Wednesday left its benchmark interest rate unchanged at 3.5% to 3.75%. The US Federal Reserve struck a hawkish tone, suggesting less urgency to cut rates.

MCX silver futures due May 2026 were down Rs 18,960 or 8% to Rs 2,29,234 per kg. Meanwhile, gold futures for April 2026 delivery declined Rs 6,268 or 4% to Rs 1,46,757 per 10 grams.

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How should you trade gold?

On the downside, immediate support is placed in the Rs 2,40,000–Rs 2,38,000 range. A breakdown below this band could accelerate the fall toward Rs 2,31,000, which remains an important structural support level. Overall, the near-term bias remains cautious, with geopolitical risks and broader uncertainty continuing to influence sentiment.

On the downside, immediate support is placed at Rs 1,50,000. A breach below this level could trigger extended profit booking and drag prices toward the Rs 1,47,000 mark. Overall, the near-term bias remains buy-on-dips as long as prices continue to hold above key support, with macro uncertainty and geopolitical developments likely to keep volatility elevated.

Gold, Silver rates today, 19 March, across major cities

Gold price today in Delhi

Standard gold (22 carat) prices in Delhi stand at Rs 1,15,792 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,26,382 per 8 grams.

Gold price today in Mumbai

Standard gold (22 carat) prices in Mumbai stand at Rs 1,15,672 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,26,192 per 8 grams.

Gold price today in Chennai

Standard gold (22 carat) prices in Chennai stand at Rs 1,16,552 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,27,152 per 8 grams.

Gold price today in Hyderabad

Standard gold (22 carat) prices in Hyderabad stand at Rs 1,15,672 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,26,192 per 8 grams.

(Data reflects prevailing physical market rates; verify with local dealers for real-time pricing.)

Gold Silver Rate Today Live Updates: Silver drops Rs 4,000, gold slips Rs 1,300 after Fed’s hawkish stance; check physical rates in Delhi, Mumbai and other major cities

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)