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From safe haven to sell-off: Silver prices crash 6% today as US-Iran war spook investors: Key levels to watch

Silver prices fell sharply on March 23, with MCX silver down 6% and gold down 5%, amid rising geopolitical tensions and global market instability. Spot silver and gold prices also declined, influenced by higher oil prices and shifting interest rate expectations, affecting demand for precious metals.

Mar 23, 2026 &03352323202631; 03:35 UTC www.livemint.com Trending 4/5

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Negative for markets

Sentiment score: -65/100

Moderate impact Short-term (days)

WHAT THIS MEANS

Silver prices crashed 6% on March 23 amid US-Iran geopolitical tensions, with gold declining 5%. Despite traditional safe-haven demand during crises, precious metals sold off due to higher oil prices and shifting interest rate expectations that reduced their appeal.

AI CONFIDENCE

72% High

SENTIMENT GAUGE

NEWS POWER SCORE

AFFECTED ASSETS

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Gold Futures

GC=FCommodity

Expected to decline

Gold down 5% on March 23; geopolitical tensions typically support gold, but rising rates and oil prices created offsetting headwinds

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Oil (WTI Crude)

CL=FCommodity

Expected to rise

Oil prices rising, contributing to inflation concerns and reducing real returns on precious metals

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10-Year Treasury Yield

^TNXBond

Expected to rise

Implied higher interest rate expectations reduce demand for non-yielding precious metals

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Euro / US Dollar

EURUSDCurrency

High volatility expected

Geopolitical tensions and shifting rate expectations create currency volatility

PRICE HISTORY

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⚡ SUGGESTED ACTION

Avoid chasing 'safe-haven' narratives in precious metals during this environment. The sell-off despite geopolitical tensions signals that macro factors (rates, inflation) are overriding crisis premiums. Monitor support levels; further breaks could accelerate selling. Consider waiting for stabilization before entry.

KEY SIGNALS

Precious metals failed to rally despite geopolitical crisis (broken safe-haven narrative)Rising oil prices and rate expectations dominating over geopolitical risk premium6% silver decline suggests profit-taking or forced liquidation in leveraged positionsGold's 5% drop indicates broad-based commodity weakness, not selective precious metal strength

SECTORS INVOLVED

CommoditiesPrecious MetalsEnergy

Analysis generated on Mar 23, 2026 at 03:41 UTC

Disclaimer: This analysis is generated by artificial intelligence for informational purposes only and does not constitute financial advice, investment recommendation, or solicitation. Original reporting by Livemint. Always conduct your own research and consult a qualified financial advisor before making investment decisions.

From safe haven to sell-off: Silver prices crash 6% today as US-Iran war spook investors: Key levels to watch

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