Gold, silver, and platinum have taken a significant hit this week. Prices are dropping as investors shy away from these precious metals, usually seen as safe havens, especially with ongoing tensions in Iran.
As of Monday morning in London, spot gold was down 7.8%, priced at $4,126.36. Gold futures fell even harder, losing nearly 10%, marking their lowest point in 2026 at $4,119.10.
This week has been tough for gold; it lost almost 10% in just seven days. This represents its worst performance since September 2011. Since reaching a high of $5,594.92 per ounce at the end of January, gold has now dropped about 25%.
Meanwhile, silver isn’t faring much better. Spot silver hit $62.24, down 8.3%, which is nearly half of its price from when the conflict started in February. Silver futures also dropped, trading at $61.66.
In addition to gold and silver, platinum futures plummeted by 10.6% to $1,760.90. Palladium saw a 6.7% decline, reaching $1,347.50.
The dip in these precious metals mirrors a broader market trend. Investors are worried about rising inflation and energy prices due to the conflict in Iran. This risk-averse attitude has driven many to consider government bonds, especially as higher interest rates loom.
Interestingly, bond yields in the eurozone have risen again, indicating that the current geopolitical climate is creating uncertainty across markets.
Expert analysts suggest this shift could continue. The escalating situation in Iran may keep investors on edge, seeking safer investment options rather than traditional havens like gold. A recent survey by the World Gold Council found that many investors now view gold less favorably, with only 40% considering it a reliable hedge against inflation.
In summary, the precious metals market is experiencing a tough time amid global tensions and shifting investor sentiment.
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