Gold Rate Today: As the tensions in the Middle East enter the third week, gold and silver rates on Monday traded mixed in the early morning. According to the reports, spot gold rate fell more than 1 percent during early Asian trading hours, slipping below the USD 5,000 level. The yellow metal touched an intraday low of USD 4,971.30 on Monday. Meanwhile, spot silver plunged 2.23 percent to USD 79.5 per ounce on March 16.

It is important to note that the ongoing conflict involving Iran, Israel and the United States has kept financial markets on edge, leading to fluctuations in the price of the yellow metal. As per the data released by the Indian Bullion and Jewellers Association (IBJA), the price of 24-carat gold dropped to Rs 1,58,399 per 10 grams by the close of trading on Friday. Since bullion markets remain closed on Saturday and Sunday, these prices are expected to stay unchanged over the weekend. As per the data, 24-carat gold is priced at Rs 1,58,399 per 10 grams, 22-carat gold at Rs 1,45,093 per 10 grams, and 18-carat gold at Rs 1,18,799 per 10 grams.