Gold and Silver Prices Dip Amid Rising Tensions

Gold and Silver Prices Report - March 12, 2026

Market Update

The global gold market saw a decrease in prices on March 12, with a 0.39% drop in the spot gold rate to $5,159 per ounce. This decline below the $5,200 level marks a shift in market sentiment. In contrast, the spot silver rate increased by 0.12% to $85.65 per ounce.

Inflation and Interest Rates

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The release of monthly US inflation data has dampened expectations of interest rate cuts by the Federal Reserve. Core US inflation remained subdued at the start of the year, but rising forward-looking inflation concerns have lowered the chances of a reduction in borrowing costs. The Federal Reserve is scheduled to hold its policy meeting later in March, where policymakers are expected to keep interest rates unchanged.

Middle East Conflict and Oil Prices

The ongoing conflict in the Middle East has intensified volatility in global energy markets, with crude prices rising for a second straight session. The US has continued its airstrike campaign on Tehran, while Israeli forces are carrying out strikes across Iran as well as in Lebanon.

Gold and Silver Prices Outlook

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Despite elevated geopolitical tensions, gold prices remain under pressure due to broader macroeconomic factors outweighing safe-haven demand. Analysts expect gold prices to remain in the $5,000–$5,300 zone, with strong buying interest visible in the $5,000–$5,100 support band. The medium- to long-term outlook for silver prices remains constructive, with prices potentially retesting previous highs above $100–$110.

Technical Analysis

COMEX Gold is currently trading in the $5,000–$5,300 zone, while COMEX Silver is trading near the $80–$90 range. Strong buying interest is evident in the $76–$80 support zone for silver, with a sustained move above $90–$95 potentially reigniting bullish momentum.