Gold Prices Turn Volatile as War-Driven Selling Gives Way to Fresh Buying Interest

Gold prices witnessed sharp fluctuations as investors sold holdings to offset losses during geopolitical tensions, but renewed stability signals have triggered a recovery in bullion rates globally and domestically

Pune | 26 March, 2026: Gold markets have experienced significant volatility in recent weeks, driven largely by global geopolitical tensions and shifting investor sentiment. During the peak of uncertainty, investors offloaded gold holdings to compensate for losses incurred in equity markets and bonds, leading to a sharp decline in prices.

In the international market, gold prices, which stood at around $5,500 per ounce before the conflict, dropped to nearly $4,000 per ounce amid heavy selling pressure. However, with signs of easing tensions, prices have gradually recovered to around $4,500 per ounce.

In India, similar trends were observed in the domestic bullion market. Prior to the instability, 24-carat gold was trading at approximately ₹1.70 lakh per 10 grams. The price later fell sharply to nearly ₹1.32 lakh, reflecting the global downturn. However, recent sessions have seen a rebound, with prices climbing back to around ₹1.46 lakh per 10 grams.

Market experts, including jeweller Amit Modak, noted that rising bond yields during the crisis encouraged investors to shift away from gold. However, after signals from Donald Trump indicating a pause in escalation, equity markets stabilized and bond yields softened, prompting renewed buying in gold and silver.Silver prices also mirrored this trend, witnessing fluctuations before rising again alongside gold. Traders believe that if geopolitical stability continues, precious metals may see steady upward movement in the coming weeks.

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