On April 20, 2026, gold and silver prices dropped sharply, each declining by 2.5%. The COMEX gold rate fell to $4,780 per ounce, while COMEX silver plunged to $78.75 per ounce.
This drop comes amid broader market pressures. Spot gold decreased to $4,792.89 per ounce by 0930 GMT, reflecting a low not seen in a week. Similarly, spot silver traded at $79.39 per ounce after losing 1.8%.
Since the beginning of the US-Iran war in late February, gold has declined approximately 9%, while silver has suffered an even steeper loss of around 14%. This ongoing conflict has created significant volatility in precious metals markets.
The strengthening US dollar has been a crucial factor affecting these declines—higher oil prices have also raised inflation expectations, further pressuring gold and silver valuations.
As geopolitical tensions continue to escalate in the Middle East, analysts are closely monitoring their impact on commodity prices. Investors are particularly concerned about how these dynamics may evolve in the coming weeks.
Details remain unconfirmed regarding future price movements as market participants assess both geopolitical developments and economic indicators.
