Spot gold breaks below $4,500, spot silver falls nearly 7% intraday

MarsBitNews · 2026-03-21T02:02:49+00:00

Spot gold and silver prices plummeted sharply due to a stronger US dollar and escalating market concerns about inflation and rising interest rates amid the possibility of the United States deploying ground forces in Iran. The market is experiencing severe volatility, with expectations for rapid consolidation but an uneven process ahead.

MarsBitNews

2026-03-21 02:02:49

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Mars Finance News, March 21 — According to market data, spot gold fell below the $4,500 per ounce level, dropping over 3% intraday. Spot silver declined nearly 7% intraday, currently at $67.845 per ounce. On the news front, the strengthening dollar and reports that the U.S. has prepared detailed plans to deploy ground troops in Iran have heightened market concerns about rising oil prices, inflation, and the subsequent increase in interest rates. Independent precious metals trader Tai Wong said, “As market concerns grew before the weekend, gold and silver prices were dragged lower. After a sharp correction this week due to rate hike fears, precious metals are especially volatile. Prices are expected to consolidate quickly, but the process will be full of twists and turns.” Major global brokerages believe that the likelihood of rate hikes by the European Central Bank and the Bank of England is increasing, possibly as early as April. The Federal Reserve held interest rates steady on Wednesday and forecast higher inflation, with Chair Powell stating that due to the impact of the war, the future policy path faces extraordinary uncertainty.

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