Gold Slips From 3-Week High, Oil Near 7-Month High: Commodity Market Quick Wrap (Feb 24, 2026) 

Today’s commodities story was simple:

Gold paused. Oil stayed strong. Silver stayed calm.

1) Gold: profit-booking after a hot run

Gold dropped over 1% after touching a three-week high, mainly because:

• the US dollar strengthened, and

• traders booked profits after the recent rally. 

Verified levels (global):

• Spot gold: about $5,172/oz (down ~1.1%)

• US gold futures: about $5,191/oz 

India reference (MCX, April futures):

• MCX Gold: around ₹1,60,615 per 10g (down ~0.55%) 

2) Silver: steady, but still sensitive

Silver also eased in global trade, while MCX silver stayed in the ₹2.64 lakh/kg zone. 

MCX Silver (March): around ₹2,64,327 per kg (near-flat/down slightly) 

3) Crude oil: near 7-month highs (geopolitics doing the heavy lifting)

Oil stayed strong because traders are watching US-Iran tension and the next round of talks, with risk of disruptions keeping a “risk premium” in prices. 

Verified levels:

• Brent: about $71.97/bbl

• WTI: about $66.76/bbl 

Nishi’s ultra-easy takeaway

• Gold moved like a “cool-down” after a sprint (profit-booking + dollar). 

• Oil moved like a “headline market” (geopolitics). 

• Silver stayed in the middle—stable, but watch volatility.

What to watch next (simple checklist):

• Dollar strength (gold reacts fast) 

• US-Iran headlines + talks timeline (oil reacts faster) 

Disclaimer: Educational market explainer only, not investment advice.