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2026-03-23 15:19:36
Gold prices plunged over 8% to a four-month low, nearing the 200-day moving average, as inflation concerns fueled expectations of a rate hike. 1. Gold prices continued their decline on Monday, falling over 8% to $4121.71 per ounce as of 3:15 PM, marking the ninth consecutive trading day of losses and reaching a new low since November 25, 2025. Since hitting a record high of $5596.33 on January 29, gold prices have fallen by approximately 26%. The 200-day moving average at $4089.82 per ounce is a key support level. 2. With the Iranian conflict entering its fourth week and oil prices hovering above $100, market expectations have shifted from rate cuts to potential rate hikes. Analysts point out that this has weakened gold's appeal from a yield perspective. Gold's high liquidity has become a disadvantage in the current climate of heightened risk aversion, with investors closing some of their gold positions to meet margin calls on other assets. 3. Market expectations for a Federal Reserve rate hike this year have risen sharply. According to the CME Group's FedWatch tool, interest rate futures indicate a greater likelihood of a Fed rate hike than a rate cut by the end of 2026. 4. Other precious metals also fell sharply: spot silver once dropped more than 10% to $60.96, a new low since December 12; spot platinum also once fell 10% to $1724.72 per ounce.
