Gold Price Trend | Spot Gold Breaks Below $4500, Likely to Record Largest Weekly Drop Since 1983

SighingCashier · 2026-03-20T19:50:34+00:00

Market predictions show a 50% probability of a US Federal Reserve rate hike in October, with the dollar exchange rate rising to 99.79. Gold prices came under pressure and fell below $4,500, with spot gold trading at $4,496.8, down 3.31%. Escalating tensions in Iran have driven up energy prices, leading to inflation concerns and rising bond yields. US stocks continue to decline, with the Dow index falling over 500 points. Spot silver prices dropped to $67.69 at one point, and gold has declined over 9% for the week, potentially marking the largest single-week decline since 1983.

SighingCashier

2026-03-20 19:50:34

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Latest market forecasts indicate a 50% chance of a Federal Reserve rate hike in October. The US dollar index briefly rose to 99.79, up 0.56%. Gold priced in USD came under pressure, with spot gold falling below $4,500 during New York trading hours, currently at $4,496.8 per ounce, down 3.31%.

Escalating tensions in Iran have boosted energy prices, fueling inflation concerns and pushing up bond yields in Europe and the US. On Friday, US stocks continued to be under pressure, with the Dow Jones Industrial Average falling more than 500 points in the late session. Financial assets were broadly sold off, and gold was no exception.

Spot silver briefly dropped to $67.69 per ounce during the day, currently at $68.0595, down 6.53%.

Gold is expected to record its largest weekly decline since 1983. This week, spot gold has fallen more than 9% so far and is on track for its eighth consecutive trading day of decline, the longest streak since October 2023.

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