23 Hrs
Source:
Sky News
Gold market drops from 5600 to 4300
Gold prices have declined from their all-time high of nearly $5,600 per ounce at the beginning of the year, now approaching around $4,300, representing a decrease of approximately 25%. This drop reflects market turbulence associated with geopolitical volatility, interest rate hikes, the strength of the dollar, and reduced purchases by central banks—especially with India’s restrictions on gold imports. Nonetheless, major financial institutions expect gold prices to rebound above $5,400 by the end of the year, citing backing from central bank reserves and China's ongoing gold purchases.
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