Gold slipped on Thursday as a record coordinated oil reserve release from the International Energy Agency introduced a note of policy resolve into markets that had been pricing in unmitigated supply chaos. Gold futures declined by nearly $100 today and are now trading around $5,092.

Gold futures pulled back sharply on Monday, declining $32.60 to $5,148.70 per troy ounce, though the contract recovered meaningfully from a session low of $5,021.20 as buyers stepped in amid the day's volatility.

Gold and silver rallied sharply on Tuesday, with spot gold climbing roughly 1.06% to settle at $5,192 per ounce. Silver outpaced its sister metal, surging more than 1.48% to an intraday high near $90.00 before closing at $88.26, a price that represents nearly a tripling in value year-over-year.

Gold fell today as oil prices went on a wild ride, reaching $119 per barrel before selling off and settling at $94.70. Gold futures declined by $32.60 as of time of writing to trade at $5,148.70, well off the lows of the day which came in at $5,021.20.

Gold opened the week under moderate pressure, with spot prices trading around $5,408 per ounce on Monday, March 2. The metal had entered the week carrying momentum from a strong recent run, though markets were already on edge amid unresolved geopolitical tensions in the Middle East.

Gold has been trading with whipsaw volatility this week as two powerful and competing forces collide: a fast-escalating military conflict in the Middle East and a string of pivotal U.S. economic reports that could reshape the Federal Reserve’s rate path for the remainder of the year.

Gold prices edged higher in Wednesday trading as a pullback in the U.S. dollar offset mixed signals from the American labor market, while the widening military conflict between the United States, Israel, and Iran continued to drive robust safe-haven demand for the precious metal.

Precious metals took a pronounced hit on Tuesday, March 3, 2026, as both gold and silver reversed course following weeks of record-breaking gains. Gold was trading at $5,161 per ounce as of 10:00 a.m. Eastern Time — a decline of $177 from the prior session — while silver fell to $82.46 per ounce at 8:45 a.m. ET, representing a steep drop of $11.80 from the same time on Monday.

In the pre-dawn hours of Saturday, February 28, 2026, coordinated US and Israeli airstrikes — codenamed Operation Roaring Lion and Operation Epic Fury respectively — struck military installations, leadership compounds, and nuclear-linked facilities across Iran.

A special Sunday report of The Gold Forecast