Gold, Silver Rates Today LIVE: Crash In Precious Metals Worsens! Gold Falls By Rs 1,800, Silver Drops Rs 7,500

Gold rates and silver rates in India crashed hard in the early hours of June 23rd, 2026, due to weak global trends. MCX gold price nosedived by nearly Rs 1,400 or 1% to trade around Rs 1,46,750 per 10 grams. While MCX silver crashed by over Rs 6,150 or 2.7% to trade below Rs 2,28,200.

Spot gold has plunged by 1% to struggle around $4,150 per ounce and spot silver has crashed by over 2% to fall below $64 per ounce.

This comes after crude oil prices rebounded mildly. US WTI Crude Oil reclaimed the $74 per barrel mark after falling by 4% in the early hours of June 23, 2026. Brent Crude also recovered to near $78 per barrel after dropping by nearly 3.5%.

Among the latest developments, US President Donald Trump has issued a new warning to Iran. Trump told reporters, if Iran does not comply with the peace agreement or "if they're not behaving. I will do what I have to do."

The US-Iran peace talks are at the heart of attention for the global market, which is expected to ease geopolitical tensions and curb the global energy crisis.

President Donald Trump threatened fresh military action if Hezbollah continues its attacks on Israel and warned Tehran against shutting the Strait of Hormuz again. At the same time, Iranian media reported that Tehran had suspended negotiations in response to Trump's remarks, although sources familiar with the discussions said talks were still underway. Gold was also weighed down by expectations of tighter monetary policy after the Federal Reserve left interest rates unchanged last week while adopting a more hawkish tone. Nine of the Fed's 19 policymakers now anticipate at least one rate increase this year, with investors pricing in a potential hike as soon as September, as per Trading Economics.

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