Gold tumbled $84 on Tuesday to $4,482 per troy ounce, extending a brutal stretch for the precious metal that has now shed nearly 4% over the past week as a cascade of bearish macro forces converged to crush investor appetite for the safe-haven asset.

Gold closed higher on Monday, gaining $27.20, or 0.60%, to settle at $4,570 per troy ounce — snapping a four-session losing streak that had erased $180 from the metal’s value last week. The session offered a measure of relief for bullion bulls, though analysts cautioned that the drivers lifting prices remain fragile.

Gold futures plunged $111 on Friday in one of the sharpest single-session declines of the year, as a toxic combination of failed Iran diplomacy, surging oil, a strengthening dollar, and Treasury yields hitting their highest levels of 2026 overwhelmed the metal from multiple directions simultaneously.

Gold suffered its third consecutive session of losses on Thursday, dropping $47 per ounce in a sell-off that extended the metal's retreat from its all-time highs and pushed prices deeper into correction territory.

Gold extended its losing streak on Wednesday, with the precious metal sliding to around $4,680 per ounce as a pair of hotter-than-expected U.S. inflation reports extinguished what little hope remained for Federal Reserve rate cuts this year.

The Bureau of Labor Statistics delivered an unwelcome surprise Tuesday morning when its April Consumer Price Index report showed headline inflation climbing 0.6% on the month, nudging the annual rate to 3.8% — one tenth of a percentage point above the 3.7% consensus forecast.

Gold futures extended their recent winning streak Monday, posting a fourth higher close in five sessions. The contract settled at $4,745 per ounce, up $21.90, or 0.48%, on the day, a solid if measured advance that nonetheless understated the session’s drama.

Gold traded higher on Friday amidst a weaker US dollar and despite a strong labor market in the US. Today, gold futures traded higher by $19.80 or 0.42% today closing at $4,730.70. Silver futures climbed back above $80 after today’s gain of $0.68 or 0.85% taking silver futures to $80.86.

Gold futures settled modestly lower on Thursday, with the front-month COMEX contract shedding roughly $6 to close near $4,685 per troy ounce — a decline of just 0.13% on the day.

Gold staged one of its most dramatic single-session rallies in recent memory on Tuesday, adding $135 per troy ounce to close at a fresh multi-week high, as news of renewed diplomatic engagement between Iran and Western powers sent shockwaves across global commodity markets.