Gold and silver in freefall as investors flee safe haven metals trade
Gold, silver and platinum continued their recent sales and fell sharply this week as investors continued to withdraw from precious metals as a safe haven due to the ongoing war in Iran.
Price spot gold It was down 7.8% at $4,126.36.80 shortly after 7:30 a.m. (3:30 a.m. ET) in London on Monday.
Gold futures down almost 10% to $4,119.10; This is the lowest level seen so far in 2026.
Golden dot.
The precious yellow metal lost almost 10% last week, its worst performance since September 2011. Spot gold has lost nearly 25% since reaching a record high of $5,594.92/ounce in late January.
spot silverMeanwhile, it fell 8.3% to $62.24; This was its lowest since the beginning of the year and nearly half the $117 level it was on Feb. 28, when the Iran war began. Silver futures It was trading at $61.66 on Monday, down 11.7%.
Silver futures.
Sales spread to other precious metals as well platinum Futures fell 10.6% to $1,760.90. palladium It fell 6.7% to $1,347.50.
The pullback from gold, traditionally seen as an important safe-haven asset in times of market turmoil, is in line with the ongoing risk-off sentiment in markets as the Iran conflict fuels concerns about inflation and rising energy prices.
The prospect of higher interest rates as a result of the war could boost government bond holdings among investors at the expense of non-yielding precious metals, market strategists recently told CNBC.
But euro zone government bond yields rose once again in early trading on Monday as the latest escalation in the conflict left investors with little room to hide.
