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Gold-Silver Price Today 23 April 2026: A sharp fall in the prices of both gold and silver was recorded on the Multi Commodity Exchange (MCX) on April 23. In early trade, gold fell by more than half a percent to around ₹ 1,51,947 per 10 grams, while silver fell by almost 2% to trade at ₹ 2,43,856 per kilogram. Let us tell you those five reasons which are responsible for the fall in the prices of gold and silver.

US dollar strength

Many global and economic reasons are being cited behind this decline. The first big reason is the strength of the US dollar. Due to slight increase in dollar index, pressure on gold increased, because in strong dollar gold becomes expensive and its demand decreases.

Sharp rise in crude oil prices

The second reason is the sharp rise in crude oil prices. Brent crude oil prices rose nearly 2% to above $103 a barrel. Due to oil becoming expensive, the demand for dollars increases in the global market, which has a negative impact on gold.

Ongoing tension between America and Iran

The third reason is geopolitical tensions, especially the ongoing tension between the US and Iran. Although the ceasefire has been extended, reports of disputes and confrontations over ships in the Strait of Hormuz remain uncertain. This has increased market instability.

Little hope of interest rate cuts

The fourth reason is that the expectation of interest rate cuts by the US Federal Reserve (FED) has reduced. Due to rising inflation and oil prices, it is now believed that the rate cut may be postponed, which is a negative sign for gold.

profit booking in gold

The fifth reason is that gold had already shown a strong rally in recent weeks, but now it is seeing a decline due to profit booking and pressure.

However, from a long-term perspective, the position of gold is still considered strong. There has been a decline in gold since the global tension started from February 28, but so far this year it has given a return of about 14%. Last year, a sharp increase of about 75% was seen in it. In comparison, the main stock market index Nifty 50 has fallen by about 7% so far this year.