Gold Slides Below USD5,100

RunWithRugs · 2026-03-10T22:28:06+00:00

Spot gold prices fell below $5,100 per ounce as investors reacted to a strengthening U.S. dollar and rising inflation concerns, retreating from recent highs amid geopolitical tensions and energy price surges.

RunWithRugs

2026-03-10 22:28:06

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(MENAFN) Spot gold dropped beneath the $5,100 per ounce mark on Monday, retreating from earlier peaks as investors adjusted their portfolios in response to a surging U.S. dollar.

The precious metal, which experienced a brief spike following “joint strikes on Tehran” earlier this month, lost its momentum as market focus shifted to ongoing inflation pressures and the Federal Reserve’s anticipated policy decisions.

Gold prices fell by 1.55% to $5,090 per ounce as of 08:30 GMT, after dipping to $5,015 earlier in the day. Meanwhile, the U.S. dollar index rose 0.55% to 99.5.

Crude oil prices surpassing $100 per barrel for the first time since 2022 has intensified worries over a resurgence in global inflation, prompting traders to scale back expectations for interest rate reductions.

Rising energy expenses, coupled with a stronger dollar, have historically exerted downward pressure on non-yielding assets like gold, making it costlier for investors using other currencies.

Despite “the escalating war with Iran” and supply disruptions in the Strait of Hormuz supporting a baseline for prices, the market is currently undergoing a phase of consolidation.

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