Overview
- During early trading Monday, spot gold tumbled as much as 8.7% to $4,099 before rebounding to roughly $4,280, according to Europa Press.
- Later in the session, futures fell about 4.1% to $4,416.51 and spot slipped 2.7% to $4,366.94, setting the year’s lowest readings and extending multi‑session losing streaks, EL CEO reported.
- Last week’s break below $5,000 left prices more than 23% under the January 29 record of $5,595, with 2026 performance down about 0.6% as of March 23.
- EL CEO attributed the latest weakness to reduced risk aversion after President Donald Trump paused planned strikes on Iran and touted progress toward a possible resolution in the region.
- The decline pressured Mexican miner Industrias Peñoles, whose shares fell 2.88% to 785.30 pesos, deepening a year‑to‑date slide to 16.72%.