Gold prices extended their decline on Monday, falling to their lowest level in nearly two weeks as selling pressure continued across precious metals markets.
Spot gold dropped 0.8% to $4,417.04 per ounce by 4:06 GMT (7:06 a.m. Baghdad time), reaching its lowest level since Aug. 19. The decline follows a sharp selloff on Friday, when gold lost more than 3% in a single session.
U.S. gold futures also moved lower, falling 1.4% to $4,466.80 per ounce.
The weakness was not limited to gold. Other precious metals also came under pressure during trading.
Spot silver slipped 0.4% to $66.10 per ounce, while platinum fell 1.3% to $1,797.03 per ounce. Palladium recorded the largest decline among the major precious metals, dropping 2.5% to $1,386.96 per ounce.
The broad-based losses suggest investors were reducing exposure across the precious metals sector after last week’s sharp market movements.
Despite the recent pullback, gold remains one of the most closely watched safe-haven assets, and traders continue to monitor economic data, interest rate expectations, and global market developments for signals that could influence future price direction.
For now, the precious metals market remains under pressure, with gold trading at its lowest level in nearly two weeks and other metals also posting notable declines.
