Gold’s Safe Haven Status Challenged as Prices Drop 18% From Peak

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2026-06-07 01:12:02

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Gold prices have plunged to three-month lows, erasing all gains since January's rally. The metal now trades near $4,327/oz—a 3.3% decline—despite geopolitical tensions and inflation concerns that typically buoy demand.

February's oil price surge to $93/barrel during US-Iran tensions failed to support precious metals. This divergence questions gold's traditional role as a hedge, with institutional flows shifting toward digital assets like Bitcoin and Ethereum during market turbulence.

Analysts note silver's parallel retreat from its $121/oz high. 'When both metals fall amid classic tail-risk events, it signals structural change,' observes Bull Theory's market strategists.

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