Analysis: Gold experiences its largest single-week decline in 43 years, with the rebound being short-lived

SmartContractAuditor · 2026-03-21T01:01:15+00:00

The gold market experienced a sharp decline, with intraday prices briefly breaking below $4,500, marking the largest single-week drop since 1983. Both spot gold and silver fell significantly, with cumulative declines exceeding 10% and 15% respectively.

SmartContractAuditor

2026-03-21 01:01:15

Abstract generation in progress

Odaily Planet Daily reports that according to Gate Data, the gold rebound was short-lived, with an intraday V-shaped reversal, falling more than 5% from the daily high and breaking below the important support level of $4,500. This week, gold plummeted over 10%, reaching a seven-week low, marking the largest weekly decline since March 1983. As of Friday (March 20) after the New York close, spot gold fell 3.42% to $4,491.67 per ounce, with a weekly decline of over 10%; COMEX gold futures dropped 2.47% to $4,492 per ounce, down more than 11% for the week. Spot silver declined 6.8% to $67.897 per ounce, with a weekly drop of over 15%; COMEX silver futures fell 4.78% to $67.810 per ounce, down more than 16% this week.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.