Gold prices plummet: fastest drop in 40 years

Global gold prices have plummeted, showing the fastest decline in four decades.

Reuters reports this.

As of the morning of March 23, gold quotes were $4.203 per ounce. During trading, the price dropped to $4.098, indicating high market volatility.

In the week from March 16 to 20, gold lost more than 10% of its value. Analysts are calling it the steepest drop since 1983.

Compared to its peak in January 2026, when the price reached $5,594 per ounce, gold has fallen by about 25%.

Financial experts are recording a change in investor sentiment. Large players are actively exiting gold assets and looking for alternative instruments.

Analysts also note that gold is losing its status as a “safe haven” for preserving capital.

Tim Waterer, chief analyst at KCM Trade, attributes the decline to the escalating situation around Iran. The conflict in the region is affecting global markets and energy.

Oil prices are hovering around $100 a barrel, changing expectations about monetary policy, with investors increasingly willing to accept rate hikes rather than cuts.

As previously reported, attacks on energy infrastructure in the Persian Gulf have sharply increased oil and gas prices and could trigger a worst-case scenario for the global fuel market.

Recall that world oil prices exceeded $100 per barrel amid the aggravation of the situation in the Middle East.