India, March 19 -- Gold and silver staged an extraordinary rally, reaching historic milestones, with gold peaking at an all-time high of around $5,420 per ounce, while silver surged to nearly $116 per ounce, a phase that reflected intense investor demand for safe-haven assets.

However, the bullish momentum saw a sharp reversal by late January amid shifting geopolitics that tempered rate-cut expectations, followed by the onset of the Middle East conflict, which created another layer of volatility, though initially these geopolitical risks had supported metal prices.

On March 19, 2026, gold fell by about 2.7 percent to around $4,687 per ounce, while silver saw a sharper decline of nearly 5 percent to trade near $71 per ounce, driven by a ...