Gold and silver just plummeted! The US dollar soared

CryptocurrencySniper · 2026-03-09T01:39:45+00:00

Spot gold and silver have recently fallen sharply, with gold prices dropping below $5050 per ounce at one point, and silver falling over 4%. The US dollar index rose to 99.5, and non-US currencies generally declined. Market focus is on energy prices and the Federal Reserve policy outlook, as uncertainties from the US-Iran conflict make investors cautious.

CryptocurrencySniper

2026-03-09 01:39:45

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【Introduction】Spot gold and silver plunge! Spot gold drops $150 in a short-term dive, losing the $5,050 per ounce level

On March 9th, at the opening, spot gold and spot silver retraced their earlier gains, both experiencing a sharp plunge!

Spot Gold Sharp Drop

Gold prices opened high but quickly fell. As of the latest report, the decline exceeds 2%, with a low of $5,027.81 per ounce.

Meanwhile, spot silver fell over 4% intraday, temporarily dropping below $81 per ounce, currently at $81.507 per ounce.

Precious metals prices all declined, with spot palladium down over 3%, at $1,562.75 per ounce.

US Dollar Index Rises to 99.5

Non-USD Currencies Under Pressure

The US Dollar Index rose to 99.5 during Monday’s Asian session, gaining 0.6% intraday.

Most non-USD currencies declined under pressure. The euro against the dollar (EUR/USD) fell 0.8% to 1.1524; GBP/USD dropped 0.77% to 1.331; AUD/USD declined 0.86% to 0.697; USD/JPY rose 0.38% to 158.36.

Investors are waiting for a key answer: Will the US-Iran conflict be resolved quickly? Over the weekend, market news caused oil prices to surge today, benefiting the dollar and putting continued pressure on gold prices.

This week, market focus remains on energy prices and Federal Reserve policy outlook. Considering the coexistence of inflationary pressures and economic slowdown risks, along with non-farm payroll data impacts, employment market volatility, and geopolitical shocks, the Fed faces a dilemma and has maintained its rate cut stance for now.

(Source: China Fund News)

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