Gold posts steepest monthly decline in nearly two decades
Global gold prices fell sharply in March 2026, marking the steepest monthly decline since the 2008 financial crisis, Qazinform News Agency reports.
According to Anadolu Agency, the price of gold per ounce dropped by 11.3% over the month. The market came under pressure from a combination of global factors, including geopolitical tensions and shifting investor expectations.
In particular, escalating tensions in the Middle East drove up energy prices, intensifying inflation risks. Against this backdrop, market participants began to reassess expectations for US monetary policy, anticipating a more hawkish stance from the Federal Reserve.
An additional factor was the strengthening of the US dollar, which once again emerged as a key safe-haven asset amid uncertainty. At the same time, rising US bond yields increased the attractiveness of yield-bearing instruments, reducing demand for gold.
As a result, gold prices fell to $4,099.52 per ounce, the lowest level in several months.
Ole Hansen, head of commodity strategy at Saxo Capital, noted that the current situation reflects not a traditional demand-driven crisis but rather supply-side inflationary pressure. Under such conditions, he said, gold temporarily loses its safe-haven appeal, giving way to the US dollar, which investors use to preserve liquidity.
Earlier, Qazinform News Agency reported that precious metals futures recorded a sharp decline during trading.
