Gold Plunges in 'Brutal Flush,' Defying Safe-Haven Status Amid Geopolitical Tensions
The gold market is reeling from one of its most severe sell-offs in decades, with prices tumbling more than 10% last week in what analysts are calling a 'brutal flush.' Spot gold plunged to around $4,288 per ounce, marking its worst weekly performance since 1983, according to JPMorgan. The sharp decline has erased nearly all of the precious metal's gains for the year, with some analysts estimating the rout has wiped out trillions in market capitalization globally. The sell-off presents a paradox, as it coincides with heightened geopolitical tensions involving the U.S. and Iran. Typically a safe-haven asset during crises, gold instead fell sharply, only finding a slight reprieve after President Trump delayed planned strikes on Iranian energy facilities. The primary drivers of the decline are a powerfully strong U.S. dollar and surging Treasury yields, which have triggered a rapid repricing of the non-yielding metal. The crash has had immediate and severe consequences across global markets. In India, prices on the Multi Commodity Exchange crashed nearly 9% in a single day to around ₹1.33 lakh per 10 grams. Thailand saw prices drop by 3,850 baht. The pain has extended to gold mining companies, which now face a squeeze from falling metal prices and soaring energy costs, threatening their recent bull run. As of March 24, 2026, prices have shown tentative signs of stabilization, with international spot gold trading around $4,418 per ounce and domestic Indian 24K gold near ₹1.35 lakh. However, the dramatic drop represents a decisive test for investor appetite. Analysts are now divided on whether the precious metal will continue its decline or begin to recover, with the market's direction hinging on the path of the dollar, interest rates, and ongoing global tensions.
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gold price today: Has gold price free fall erased $7.3 trillion of market cap since US Iran war, and will precious metals continue to drop or rise again? Analysts insights, market outlook and what should investors do now - The Economic Times
Has gold price free fall erased $7.3 trillion of market cap since US Iran war, and will precious metals continue to drop or rise again? Gold fell to a four-month low, declined about 22% from peak, and reacted to dollar strength, oil price changes, and rate expectations.
Gold Price Today [24 March, 2026]: Gold Stabilizes at $4,418 After Sharp Decline; Domestic Rates Plunge to ₹1.35 Lakh/10g | Check City-Wise Rates of 24K, 22K & 18K
Gold Price Today, 24 March 2026: Gold prices have stabilized after a significant weekly decline, with international spot gold trading at approximately $4,418.36 per ounce, recovering slightly from recent four-month lows. In the Indian domestic market, 24K gold has plunged to around ₹1.35 ...
Gold’s second-biggest single-day drop in about four years could set up the most decisive test yet for investor appetite in precious metals. Prices of the metal on the Multi Commodity Exchange plunged nearly 9% intraday to around ₹1.33 lakh per 10g, erasing almost all of its gains so far ...
Spot gold tumbled to about $4,288 per ounce, following a more than 10% decline last week, its worst weekly performance since 1983. "This is an extremely brutal flush," Greg Shearer, head of base and precious metals strategy at JPMorgan, said on Friday.
Stock NewsBusinessExecutive TradesInsights & GuidesInvestingEducationMarketMarket NewsTechnical IndicatorsTechnology ... The gold price fell again on 24 March, extending last week’s drop. A strong US dollar and rising Treasury yields are driving a brutal flush and quick repricing.
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