Gold and silver prices crashed on the Multi Commodity Exchange (MCX) on June 18, 2026. Gold futures dropped by nearly Rs 1,800. Silver prices plummeted by as much as Rs 6,000.
The US Federal Reserve maintained current interest rates while signaling potential future hikes. This decision strengthened the US dollar and reduced the appeal of non-yielding assets.
A peace agreement between the US and Iran further eased geopolitical tensions. This diplomatic breakthrough reduced the global safe-haven demand for precious metals.