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Gold declines 26.4% globally since 2026
Gold prices have experienced a significant decline since the beginning of 2026, dropping by 26.4% worldwide. They fell from a high of approximately $5,600 per ounce in January to around $4,120 in October. Similarly, in the local market, prices decreased from 7,180 pounds to about 6,125 pounds per gram. The primary reason for this decline is the rise in global inflation, which has led to prospects of increased U.S. interest rates, putting pressure on gold prices as it is a non-yielding asset. The Federal Reserve raised interest rates once by 0.25% this year, after keeping them steady in previous meetings. Ongoing inflation and fluctuating interest rate expectations remain key factors negatively impacting gold prices.
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