Gold, Silver Plunge Over 5% on MCX Amid Strong US Dollar, Iran-US War

• Gold and silver prices in India fell sharply on March 23 due to a strengthening US dollar and rising crude oil prices.
• Both commodities saw a significant sell-off on MCX, with prices dropping up to 5.50 percent.
• Gold futures for April 02 expiry fell 5 percent to Rs 1,37,924 per 10 grams; silver futures for May 05 plunged 5.41 percent to Rs 2,14,500 per kg.
• In Mumbai, 24K gold was Rs 1,45,960 per 10 grams, and 22K gold was Rs 1,33,790 per 10 grams.
• International market rates, import duties, taxes, and exchange rate fluctuations primarily influence gold prices in India.