Gold tumbled 2% to $4,570 per ounce on Friday, on track for its largest weekly decline since 1983, as escalating Middle East tensions sent energy prices soaring and dashed hopes for near-term interest rate cuts. Prices extended their decline after reports that the Pentagon is deploying three warships and thousands of Marines to the region, prompting traders to price in a 50% chance of a Federal Reserve rate hike by October amid fears of sustained inflation. The safe-haven metal has fallen every week since the US-Israel strikes on Iran last month, pressured by rising Treasury yields, a stronger dollar, and profit-taking as investors liquidated positions to offset losses elsewhere. Earlier this week, the Federal Reserve, European Central Bank, Bank of England, and Bank of Japan held rates steady but signaled readiness to tighten policy further if inflationary pressures persist.

Gold fell to 4,488.72 USD/t.oz on March 20, 2026, down 3.48% from the previous day. Over the past month, Gold's price has fallen 14.13%, but it is still 48.45% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Gold reached an all time high of 5608.35 in January of 2026. Gold - data, forecasts, historical chart - was last updated on March 21 of 2026.

Gold fell to 4,488.72 USD/t.oz on March 20, 2026, down 3.48% from the previous day. Over the past month, Gold's price has fallen 14.13%, but it is still 48.45% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gold is expected to trade at 5042.03 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 5457.53 in 12 months time.



Price Day Month Year Date
Gold 4,488.72 -161.79 -3.48% -14.13% 48.45% Mar/20
Silver 67.60 -5.191 -7.13% -23.35% 104.76% Mar/20
Copper 5.34 -0.0905 -1.67% -7.58% 5.22% Mar/20
Steel 3,148.00 15.00 0.48% 3.79% -0.25% Mar/20
Lithium 149,000.00 -3500 -2.30% -1.97% 100.54% Mar/20
Platinum 1,970.50 26.80 1.38% -8.46% 101.75% Mar/20
Iron Ore 105.89 0.25 0.24% 6.67% 3.81% Mar/20



Related Last Previous Unit Reference
United States Gold Reserves 8133.46 8133.46 Tonnes Dec 2025
Russia Gold Reserves 2326.52 2329.63 Tonnes Dec 2025
Italy Gold Reserves 2451.87 2451.84 Tonnes Dec 2025
India Gold Reserves 880.18 880.18 Tonnes Dec 2025
Germany Gold Reserves 3350.25 3350.25 Tonnes Dec 2025
France Gold Reserves 2437.00 2437.00 Tonnes Dec 2025
China Gold Reserves 2306.30 2303.50 Tonnes Dec 2025
United States Inflation Rate 2.40 2.40 percent Feb 2026
United States Fed Funds Interest Rate 3.75 3.75 percent Mar 2026

Gold
Gold is mostly traded on the OTC London market, the US futures market (COMEX) and the Shanghai Gold Exchange (SGE). The standard future contract is 100 troy ounces. Gold is an attractive investment during periods of political and economic uncertainty. Half of the gold consumption in the world is in jewelry, 40% in investments, and 10% in industry. The biggest producers of gold are China, Australia, United States, South Africa, Russia, Peru and Indonesia. The biggest consumers of gold jewelry are India, China, United States, Turkey, Saudi Arabia, Russia and UAE. The gold prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our gold prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
4488.72 4650.51 5608.35 34.83 1968 - 2026 USD/t oz. Daily

News Stream
Gold Set for Biggest Weekly Drop Since 1983
Gold tumbled 2% to $4,570 per ounce on Friday, on track for its largest weekly decline since 1983, as escalating Middle East tensions sent energy prices soaring and dashed hopes for near-term interest rate cuts. Prices extended their decline after reports that the Pentagon is deploying three warships and thousands of Marines to the region, prompting traders to price in a 50% chance of a Federal Reserve rate hike by October amid fears of sustained inflation. The safe-haven metal has fallen every week since the US-Israel strikes on Iran last month, pressured by rising Treasury yields, a stronger dollar, and profit-taking as investors liquidated positions to offset losses elsewhere. Earlier this week, the Federal Reserve, European Central Bank, Bank of England, and Bank of Japan held rates steady but signaled readiness to tighten policy further if inflationary pressures persist.
2026-03-20
Gold is down by 2.02%
Gold decreased 2.02% to 4556.62 USD/t.oz
2026-03-20
Gold Heads for Sharp Weekly Drop
Gold held below $4,700 per ounce on Friday following a steep two-day selloff, and was on track for a sharp weekly decline as surging energy prices driven by the Middle East conflict stoked inflation concerns and dampened expectations for interest rate cuts. Higher energy prices and intensifying inflationary pressures prompted investors to rotate into the dollar and Treasuries at the expense of safe-haven metals. The energy-driven shock forced traders to reassess the policy outlook after a wave of hawkish signals from major central banks. The Fed kept rates unchanged, signaling no rate cuts until inflation clearly eases. At the same time, the ECB, BOJ, and BOE also left rates steady but struck more hawkish tones, indicating a bias toward tighter policy. Markets have now pushed back expectations for Fed rate cuts to 2027 and are pricing in two rate hikes each from the ECB and BOE this year, further weighing on gold’s appeal.
2026-03-20