Precious Metals Set for Worst Monthly Performance in Over a Decade

Deep News03-31 03:10

March is shaping up to be the worst month for precious metals in years. Gold and silver futures have retreated sharply from record highs as investors reassess the outlook for interest rates, cash in on profitable positions, and raise funds to cover losses from misjudged trades amid escalating tensions between Iran and the United States.

Gold futures have fallen by more than 13% so far this month, shedding over $700 per ounce. In dollar terms, this would mark the steepest monthly decline on record; in percentage terms, it would be the largest drop since the market crash of October 2008.

Silver futures are also on track for their biggest monthly dollar decline ever, having already fallen more than $22 with just one trading day remaining in March. On a percentage basis, the decline stands at 24%, the largest since September 2011.

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