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BUSINESS • 21/03/2026 11:59 AM

Gold Prices See Biggest Weekly Drop Since 1983

ISTANBUL, March 21 (Bernama-Anadolu) -- The price of gold saw the biggest weekly drop since 1983, decreasing more than 10 per cent to below US$4,500 threshold on Friday.

Hovering between US$4,477.5-US$4,735.81 per ounce on Friday, gold price is at US$4,509.08 as of 1940GMT, down 3 per cent on a daily basis, Anadolu Ajansi reported.

Gold prices saw significant drop amid escalating West Asia tensions, which push energy prices up, cause inflationary concerns and decrease hopes for near-term interest rate cuts.

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This week, the Fed, the European Central Bank, the Bank of England and the Bank of Japan kept interest rates constant warning that the war may increase prices globally.

-- BERNAMA-ANADOLU

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