Gold prices have been surging since last August, a trend that gained serious momentum in early 2026 as global instability grew. But in more recent weeks the price of the precious metal has faltered. What’s behind the dip, and where might volatile gold prices head next?
Geopolitics is moving fast. By 8 April, with a 14 day US-Israel-Iran ceasefire agreed overnight, the price of a troy ounce of gold had jumped to $4,794 (£3,568). The day before in early trades it had been almost $100 less at $4,687. These are historically extremely high levels – this time last year, gold was trading just under $3,000/oz – but something of a sell-off versus 2026 so far. A quick recap of how we got here. Gold's meteoric rise After rising sharply all through the first month of this year, breaking records as it went, the price of gold soared through the $5,000 barrier on 2...
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