Gold, silver and platinum resumed recent declines this week, plunging as investors continue to retreat from safe-haven precious metals as the war in Iran continues.
price of spot gold It fell 7.8% to $4,126.36.80 shortly after 7:30 a.m. London (3:30 a.m. ET) on Monday.
gold futures fell about 10% to $4,119.10, the lowest level so far in 2026.
gold spot.
The yellow precious metal fell about 10% last week, its worst rally since September 2011. Spot gold is currently down about 25% since hitting a record high of $5,594.92 an ounce at the end of January.
spot silverMeanwhile, it fell 8.3% to $62.24, its lowest level this year and almost half of the $117 it hit on February 28, when the Iran war began. silver futures It was trading 11.7% lower at $61.66 on Monday.
silver futures.
The decline extends to other precious metals as well. platinum Futures plunged 10.6% to $1,760.90. palladium It fell 6.7% to $1,347.50.
The retreat from gold, traditionally seen as a key safe-haven asset during market turmoil, is consistent with the ongoing risk-off sentiment in markets as the Iran conflict raises concerns about inflation and rising energy prices.
Market strategists recently told CNBC that the prospect of higher interest rates as a result of the war could prompt investors to buy government bonds at the expense of lower-yielding precious metals.
But euro zone government bond yields rose again in early trading on Monday as the latest escalation in the conflict left investors with little hiding place.
