Spot gold has almost wiped out all of this year's gains.

K-LinePoet · 2026-03-24T03:40:12+00:00

On Monday, spot gold prices nearly returned to last year's year-end levels. Amid Middle East conflicts and rising oil prices, inflation risks have increased, suppressing the possibility of rate cuts. Gold has fallen for eight consecutive days, recording its largest single-week decline since 1983. Analysts suggest a potential short-term rebound, with the key depending on Trump's actions.

K-LinePoet

2026-03-24 03:40:12

Abstract generation in progress

Gold futures briefly reached $4,320.30 per ounce on Monday—less than a dollar above last year’s closing price, nearly erasing all of this year’s gains. Meanwhile, the conflict in the Middle East has lasted four weeks, and the US and Iran have exchanged threats of new attacks. Since the outbreak of hostilities, rising oil prices have increased inflation risks and reduced the likelihood of the Federal Reserve and other central banks cutting interest rates in the near term. This is a negative factor for gold, which has fallen for eight consecutive trading days and just posted its largest weekly decline since 1983. Capital.com analyst Kyle Rodda said that, due to technical reasons, “gold is likely to see a rebound in the short term,” largely depending on whether “Trump can follow through on his threat to target Iranian power plants.”

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.