Gold Prices Retreat as Crude Surge Triggers Haven Rotation
By HDFC SKY | Updated at: Mar 16, 2026 04:42 PM IST
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Gold prices are currently retreating as a massive unwinding of positions takes hold, triggered by the surge in crude oil prices. We are seeing a distinct rotation in haven demand; investors are shifting capital away from precious metals and into the US Dollar and bonds. This transition is driven by expectations that global central banks will pause interest rate adjustments to combat the inflationary ‘tax’ of energy supply disruptions stemming from the US-Iran conflict.
Furthermore, we are witnessing a classic ‘liquidity grab’ where investors are liquidating profitable gold positions to offset losses in other volatile asset classes. In India, gold and silver are showing clear signs of exhaustion as crowded trades unwind ahead of the financial year-end.
For the near term, one should track the following technical thresholds:
- MCX Gold (per 10g): Support at Rs. 153,900; Resistance at Rs. 159,450.
- COMEX Gold (per oz): Support at $4,840; Resistance at $5130.
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Please Note: The information shared is intended solely for informational purposes and does not make any investment recommendations
