Overview
- After a drop of roughly 20% from early‑March highs, gold showed a small early‑week bounce to about €3,976 per ounce, roughly 1% above the prior day.
- A stronger US dollar and bets on higher interest rates have pulled investors toward yield and away from bullion that earns no interest.
- Turkey’s central bank added supply to the market with about 58–60 tonnes of disposals in March, much of it via short‑term gold‑for‑currency swaps that Bloomberg says routed some metal through Bank of England vaults.
- Exchange‑traded gold products saw heavy outflows in March, with Bloomberg tracking more than 85 tonnes leaving, as institutions locked in gains after the multi‑month rally.
- Most analysts frame the slide as a correction rather than a lasting turn, while noting silver’s steeper retreat underscores the sector’s high volatility.