Gold's Steepest Weekly Decline Since 1983: Is Its Safe Haven Status Diminishing?

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Gold's Steepest Weekly Drop Since 1983: Safe Haven Losing Luster?

International gold prices fell sharply, witnessing its highest weekly fall

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News18•21-03-2026, 10:35

Gold's Steepest Weekly Drop Since 1983: Safe Haven Losing Luster?

•International gold price fell sharply below $4500 per ounce, marking its biggest weekly fall since 1983.
•COMEX gold futures traded at Rs 4,492 per ounce with a 2.47% fall.
•Strong US dollar, rising inflation, and surging oil prices are dampening demand for commodities despite the Iran-US war.
•COMEX silver futures plunged almost 5% in a single day, falling below $70 per ounce.
•The 1983 fall was triggered by the US Federal Reserve's decision to raise interest rates to control inflation, making other assets more attractive.

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